MIRA
INFORM REPORT
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Report Date : |
29.11.2008 |
IDENTIFICATION DETAILS
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Name : |
GADSEC SOLUTIONS |
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Registered Office : |
C – 1/002,
Printers Apartment, Sector – 13, Rohini, |
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Country : |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1998 |
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Legal Form : |
Partnership
concern with an unlimited liability of the partners |
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Line of Business : |
Manufacturer and Supplier
of Security and Safety Equipments |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Maximum Credit Limit : |
USD 50000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern. Its payments are reported as
slow. The concern can be considered for small business dealings at usual
trade terms and conditions. |
INFORMATION PARTED BY
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Name : |
Mr. Amitabh Sharma |
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Designation : |
Partner |
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Contact No.: |
91-9811143210 |
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Date : |
27.11.2008 |
LOCATIONS
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Registered Office : |
C – 1/002,
Printers Apartment, Sector – 13, Rohini, |
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Tel. No.: |
91-11-27043789/27551745 |
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Mobile No.: |
91-9811143210
[Mr. Amitabh Sharma] |
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Fax No.: |
91-11-27043789 |
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E-Mail : |
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Website : |
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Area: |
1000 Sq. fts. |
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Location : |
Owned
(Residential) |
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Factory : |
Khasra No. 1147, |
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Tel. No.: |
91-11-27043789 |
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Area : |
2500 sq. ft. [Rented] |
PARTNERS
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Name : |
Mr. Amitabh
Sharma |
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Designation : |
Partner |
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Address : |
C – 1-002,
Printers Apartment, Printed Cooperative Housing Society, Sector – 13, Rohini,
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Date of Birth/Age : |
36 Years |
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Qualification : |
Graduate |
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Experience : |
16 Years |
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Mobile No.: |
91-9811143210/9811017522 |
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Tel. No. |
91-11-27551745 |
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Name : |
Mr. Vinay Sharma |
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Designation : |
Partner |
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Address : |
C – 1-002, Printers
Apartment, Printed Cooperative Housing Society, Sector – 13, Rohini, |
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Date of Birth/Age : |
40 Years |
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Qualification : |
Graduate |
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Experience : |
18 Years |
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Tel. No. |
91-11-27551745 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and
Supplier of Security and Safety Equipments |
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Products : |
v
Card
Access Control v
Digital
Video Recorder v
Monitor
v
Fire
Alarm Panel v
Automatic
Fire Extinguisher v
Auto
Iris Zoom Lens v
C v
Control
Unit v
Eight
Zone Expandable Alarm v
Passive
Infrared Detector v
Six
Zone Alarm Panel v
Surveillance
Equipment v
Wireless
Security v
Motion
Detectors v
Glass
Break Detectors v
Photoelectric
Sensors v
Fire
& Smoke Detectors v
Passive
Infrared Detector |
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Agencies Held : |
v
HIK Vision – v
Dahua – v
Samsung v
Panasonic |
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Imports : |
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Countries : |
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Terms : |
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Selling : |
Cash Against
Delivery and Credit (60 to 90 days) for Government Agencies |
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Purchasing : |
On Document
against Payment Basis, T/T |
GENERAL INFORMATION
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Customers : |
v
Punjab
National Bank v
State
Bank of v
Union
Bank of v
State
Bank of v
State
Bank of Bikaner & Jaipur v
Bank
of v
Central
Bank of v
Allahabad
Bank v
Bank
of v
Syndicate
Bank v
Punjab
& Sind Bank v
Indian
Bank v
Oriental
Bank of Commerce v
Bank
of v
Bank
of Tokyo-Mitsubishi Limited v
Deutsche
Bank v
Kangra
Co-Operative Bank Limited v
Dena
Bank v
Central
Industrial Security Force, Ministry of Home Affairs v
Police
Head Quarter, Rajasthan v
National
Thermal Power Corporation (NTPC) v
Hungarian
Embassy v
Escorts
Limited v
Whirlpool
India Limited v
Exxon
Mobil Company Limited v
Safdarjung
Motors (Hyundai Motors) v
Mothersons
Sumi Infotech Designs Limited v
Reliance
Industries Bhilwara Group v
Department
of Telecommunication v
Defence
Institute of Fire Research v
Asian
Paints v
Air
Vice Marshal (Residence) v
Air
Commodore (Residence) v
Quarter
Master General's (Residence) v
Vikas
Chains & Jewellery Private Limited (All showrooms in v
Goel
Sons Jewellers Private Limited v
Capital
Foods Limited v
Keshav
Sehkari Bank v
Whirlpool
of |
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No. of Employees : |
Around 18 |
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Bankers : |
Bank of |
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Facilities: |
C/C Rs. 4.000
Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Rajkaran Jakad and Associates Chartered Accountants |
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Address : |
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Associates/Subsidiaries
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AV Solutions Private Limited Address: C –
1/002, Printers Apartment, Sector – 13, Rohini, |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 5.000 Millions |
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Borrowed : |
Rs. 5.000 Millions |
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Total : |
Rs. 10.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
35.000 |
15.000 |
17.500 |
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Profit/(Loss) Before Tax |
NA |
NA |
0.831 |
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Provision for Taxation |
NA |
NA |
0.081 |
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Profit/(Loss) After Tax |
NA |
NA |
0.750 |
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Import Value |
NA |
NA |
6.125 |
Expected Sales (2008-09) : Rs. 80.000 Millions
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
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PAT / Total Income |
(%) |
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4.29 |
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Net Profit Margin (PBT/Sales) |
(%) |
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4.75 |
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Return on
Investment (ROI) (PBT/Networth) |
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37.50 |
LOCAL AGENCY FURTHER INFORMATION
Items Dealing In
v
Cash Bag Alarm System
v
'BONPET' - Automatic Fire Extinguisher
v
Microprocessor Based/Conventional Security Alarm
System
v
Microprocessor Based/Conventional Fire Alarm
System
v
Fire Extinguishing Media viz. Sprinklers &
Wet Riser, Extinguishers
v
Central Monitoring Station (CMS)
v
Ultra Violet Lamp for Detection of Forged
Documents
v
CCTV System/Digital Video Recording System
v
Metal Detectors (HHMD & DFMD)
v Access
Contro System
Trade References:
v State Bank of
v Bank of
v Indian Bank
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 49.84 |
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|
1 |
Rs. 76.81 |
|
Euro |
1 |
Rs. 64.38 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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33 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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