MIRA
INFORM REPORT
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Report Date : |
04.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
HABARI IMPEX |
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Registered Office : |
201, Vardhaman Complex, Fitwell Compound, L B S Marg, Vikhroli (West),
Mumbai – 400 083, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 (Estimated) |
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Year of Establishment : |
1983 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Bicycle and Bicycle components |
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 3000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Ms. Smita, Computer Operator parted some details in absence of Mr.
Paresh Mehta who is out of Mumbai and shall return after 15 days. Subject appears to be a small merchant exporters. Trade relations are
fair. Payments are reported as slow but correct. The concern can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Smita |
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Designation : |
Computer Operator |
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Contact No.: |
91-9892789184 |
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Date : |
02.10.2008 |
LOCATIONS
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Registered Office / Factory: |
201, Vardhaman Complex, Fitwell Compound, L B S Marg, Vikhroli (West),
Mumbai – 400 083, Maharashtra, India |
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Tel. No.: |
91-22-67974779 |
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Mobile No.: |
91-9892789184 (Ms. Smita) |
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Fax No.: |
91-22-25795779 |
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E-Mail : |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Paresh Mehta |
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Designation : |
Proprietor |
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Age : |
42 years |
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Qualification : |
Graduate |
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Experience : |
20 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Bicycle and Bicycle components |
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Products : |
· Bicycles and Bicycle spare parts · Soaps and detergents · Naphthalene balls · Plain sheet glass · P.V.C. Leather · Agriculture items · Mineral and Ore · HMS(Heavy Melting Sheet)1 and 2 Scrap · Bearing · Bikes |
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Exports : |
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Products : |
Bicycle Parts |
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Countries : |
East Africa |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash |
GENERAL
INFORMATION
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Customers : |
Retailers, Wholesalers |
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No. of Employees : |
2 |
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Bankers : |
Bank of India, Ghatkopar, Mumbai, Maharashtra, India |
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Facilities : |
The concern enjoy some Cash Credit facility from its bankers. |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Phatichand and Company Chartered Accountants |
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 0.500 million (Estimated) |
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Borrowed : |
--- |
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Total : |
Rs. 0.500 million (Estimated) |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 (Estimated) |
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Sales Turnover |
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3.000 |
LOCAL AGENCY
FURTHER INFORMATION
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Additional
Requirement of Indiamart for Trust-Seal |
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IEC Code : 0395003831 |
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PAN / TAN :aadpm9856f |
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Bank Name : Bank
of India |
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Bank Address : Ghatkopar
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Account Since :2007 |
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WEBSITE DETAILS:-
The concern is an
eminent exporter and distributor of a diverse range of products for various industrial,
commercial and domestic requirements. Their range includes industrial and
engineering products, cosmetics, bicycle, apparels, chemicals, agricultural
products, etc.
Now, they have expanded their business operations to a paramount position. Innovation
and improvement are the core competence of their manufacturing policies. At the
same time, they ensure to follow the prescribed international norms for
quality. They also provide customized solution to their clients.
Their commitment for excellence and passion for quality products has shown them
the way to growth and prosperity. By being globally accepted, they have proved
their products are in conformation with the international standards.
Further, they are
capable of meeting bulk market demands.
Products
In their due course
of business, their consistent efforts have propelled them to expand their
product gamut. They are one of the leading exporters, wholesale supplier and
distributors of bicycles and bicycle spare parts, detergent powders and bathing
soaps. Leveraging on their long industry standing and vast resources, they hold
an in-exhaustive range of other products namely; P.V.C. leather, mineral and
ore, HMS(heavy melting sheet)1and2 scrap, soaps and detergents etc.
· Bicycles and Bicycle spare parts
· Soaps and detergents
· Naphthalene balls
· Plain sheet glass
· P.V.C. Leather
· Agriculture items
· Mineral and Ore
· HMS(Heavy Melting Sheet)1 and 2 Scrap
· Bearing
· Bikes
Bicycle Spare
Parts
Their Bicycle Spare
Parts includes:
· Tyres and Tubes, Saddle, Forks, Hubs, Triple and single chain wheels
· Rims, Chains, Spokes, Valves, Gear (free wheel single and 6 speed)
· Axle, Cups, Pedals, Brakes, Bells, Chain covers (full and half)
· Locks, Carrier, Mud guard, Stand, Mirror, Air pumps, Tool bags
· Frames
Quality
They are a
well-established enterprise and professionally, with a robust infrastructure.
They utilize the most modern technology in making the equipment. They follow a
comprehensive system of quality control and ensure that every product is
thoroughly checked and inspected, before finally being delivered.
They are committed to furnish superior quality products at economical price
with schedule consistency. It is their endeavor to follow the principles of
total quality management. The concern has developed quality objectives and work
plans for quality management. They follow stringent quality control norms by
reviewing and monitoring each product.
Each product of their range is tested as per the internationally accepted
standards using various test procedures. In addition, they also facilitates specific testing as per the client's requirement.
For quality control, they have a team of quality checking staff.
Product's Features
Products they trade
showcase the exuberance of innovative ideas fused with required detailing. Each
product has a distinct visual appeal,
durability, material integrity and offers a brilliant synthesis of form and
function. They constantly keep their selves abreast with the latest trends
so that they can incorporate the ideas in their procurement process.
Furthermore, features like quality, durability, customized packaging and
on-schedule delivery of their products, have carved a niche for them in the
marketplace.
Customized Products
Leveraging on their
extensive resource network and industry experience, they are highly competent
to undertake every kind of customized product order. They invite suggestions
and specifications from their clients to deliver products as per their exact
specifications and requirements.
Coordination with
Clients
Their strong team of
sales executives work in close co-ordination with their clients to understand
their specific requirements and deliver products in exact accordance. Further,
they constantly strive to gauge the market potential, demand and latest trends
of the market so as to come out with innovative range of products and gain a
competitive advantage.
Patronage
Along with a
sustainable presence in the domestic market, they have met the rising demands
of their foreign clients and have established their niche market there. They
nurture a pool of high profile clients in UK, Portugal, USA, Canada and African countries.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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 concern 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 concern’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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.88 |
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UK Pound |
1 |
Rs.82.97 |
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Euro |
1 |
Rs.64.99 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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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 |
YES |
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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 |
YES |
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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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35 |
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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