MIRA
INFORM REPORT
|
Report Date : |
13.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SHREE KRISHNA ENGINEERING COMPANY |
|
|
|
|
Registered Office : |
73-74, D. D. U. Market, Hauz Quazi, New Delhi 110006. |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2008 |
|
|
|
|
Year of Establishment : |
1974 |
|
|
|
|
IEC No.: |
0502075012 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
07320061309 |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAAFS0212J |
|
|
|
|
Legal Form : |
Partnership Concern With an Unlimited Liability of the Partner |
|
|
|
|
Line of Business : |
Manufacturer of Anchor
Fasteners, Hand Tools, etc. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 6000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established concern having satisfactory track. Trade
relations are fair. Payments are usually correct and as per commitments The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Chetan Arora |
|
Designation : |
Partner |
|
Date : |
03.10.2008 |
LOCATIONS
|
Registered Office : |
73-74, D. D. U. Market, Hauz Quazi, New Delhi 110006. |
|
Tel. No.: |
91-11-23233034, 23239218 |
|
Mobile No.: |
91-9868700301/9868083990 |
|
Fax No.: |
91-11-23233034 |
|
E-Mail : |
|
|
Website : |
www.lovelyfasteners.com
/ www.lovelytools.com |
|
Area : |
200 sq mt. |
|
Location : |
Owned |
|
|
|
|
Head Office : |
52, Kanti Nagar, New Delhi 110052 India. |
|
Tel No : |
91-11-22097767, Mo. 91-9868700301 |
|
Area : |
250 sq mt |
|
Location : |
Owned |
PARTNERS
|
Name : |
Mr. Chetan Arora |
|
Designation : |
Partner (Chief Executive Officer ) |
|
Date of Birth/Age : |
30 Years |
|
Qualification : |
M B A |
|
Experience : |
7 Years |
|
|
|
|
Name : |
Mr. Shyam Sunder Arora |
|
Designation : |
Partner |
|
Date of Birth/Age : |
56 Years |
|
Qualification : |
Graduate |
|
Experience : |
26 Years |
|
|
|
|
Name : |
Mr, Chender Mohan Arora |
|
Designation : |
Partner |
|
Date of Birth/Age : |
45 Years |
|
Qualification : |
ITI |
|
Experience : |
22 Year |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing Anchor Fasteners, Hand Tools. |
|
|
|
|
Products : |
|
|
|
|
|
Brand Names : |
LOVELY |
|
|
|
|
Exports : |
|
|
Products : |
|
|
Terms : |
|
|
Selling : |
L/C, Cash / Credit |
|
|
|
|
Purchasing : |
Cash / Credit |
GENERAL
INFORMATION
|
Suppliers : |
Own Manufacturing |
|
|
|
|
Customers : |
|
|
|
|
|
No. of Employees : |
20 |
|
|
|
|
Bankers : |
HDFC Bank Limited, Delhi- 110006. |
|
|
|
|
Banking
Relations : |
Normal |
|
|
|
|
Associates/Subsidiaries : |
Group Sales Turnover : Rs.15.000 Millions Group Employees : 35 |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 1.200 Millions |
|
Borrowed : |
NA |
|
Total : |
Rs. 1.200 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
31.03.2008 |
31.03.2007 |
|
Sales Turnover |
|
7.700 |
6.000 |
|
|
|
|
|
|
Profit/Loss for the year |
|
12 % |
12 % |
Expected Sales (2008-09) : Rs.10.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
|
Parameters |
Detail |
|
|
|
|
Existence Verification |
|
|
Name |
SHREE KRISHNA ENGINEERING COMPANY |
|
Address |
73-74, D. D. U. Market, Hauz Quzi, New Delhi 110006. Daman And Diu. |
|
2nd Address |
52, Kanti Nagar, New Delhi 110052. |
|
Phone / Mobile Numbers |
91-11-23233034, 23239218 |
|
Fax Number |
91-11-23233034 |
|
|
|
|
Statutory Approvals |
|
|
Legal Status of Firm |
Partnership Company. |
|
Income Tax Registration |
AAAFS0212J |
|
VAT / TIN Registration |
07320061309 |
|
Import Export Code |
0502075012 |
|
Name of Bank |
HDFC Bank Limited. New Delhi- 110006. |
Profile :
The headquarters of LOVELY Group of India is located at Delhi in India.
In 1952, Late Sh. Girdhari Lal Arora, founder of the Company, breaking away the
tradition, came in the business of Hardware. He started manufacturing Cycle
Parts in Jalandhar (Punjab, India), with his 4 sons’: Sh. Kamal Kishor Monga,
Sh. Pran Nath Arora, Late Sh. Gopal Krishan Monga and Sh. Sham Sunder Arora.
Way back in 1966, he with his 2 son’s: Sh. Pran Nath Arora and Sh. Sham Sunder
Arora started other manufacturing unit in Delhi for manufacturing Hand Tools,
Expansion Fasteners and other hardware items, thus opening the first page of
the history of LOVELY Group. To date, LOVELY Group possesses
fully automated manufacturing unit, a force of well-trained employees and the
complete building fixing systems. Two product modules have been formed: Fixing
systems (expansion fasteners) and Hand Tools. In accordance with the notions of
"innovation" and "high quality" of Indian LOVELY Group,
this company has been developing and exploring and has become outstanding in
the same trade with its perfect product design and excellent service system.
The building fixing system of LOVELY has realized the creative ideas of
designers with its perfect product structure. It has also established numerous
sales channels to provide customers with overall technical training and
thoughtful technical consultancy. They are convinced that only best raw
material and best technology can produce best products. It is their wish that
they can become the best cooperative partner anywhere in the World.
The Subject:
LOVELY, a renowned name in the construction industry is present on the world
stage for more than 50 years now, representing its worldwide recognition
towards the innovation and quality. Late Sh. Girdhari Lal Arora, born in Lahore
(now in Pakistan) in 1914, laid the foundation stone of LOVELY Empire in
1952, in the name of M/s. Hind Vir Industries, at Jalandhar in the State of
Punjab, India. In the year 1966, M/s. Hind Vir Industries opened another branch
at Delhi, India. And in 1974, subject came into being at Delhi, India
with LOVELY as its Trademark and Brand Name. It started manufacturing
Hacksaw Frame, Chisel, Holder-Bit (Drill), Expansion Fasteners & so on.
This Product Line is growing day-by-day, with the GRACE OF GOD and QUALITY AT
CORE.
Now, Third Generation having professional education in their hand, experience
of their elders and fire under their belly’s has also entered LOVELY Group.
Now LOVELY Group is producing more than 200 types of products, with more
than 1000 shapes and sizes. LOVELY Group, which started as a small factory,
more than 50 years ago, now has big manufacturing units and trading outlets of
its own and a vast network of distributors, dealers and retailers all over
India and Nepal, with their Head Office in Delhi (India).
Innovative thinking, personal responsibility, use of latest technology,
seriousness, uncompromising qualities and services and reliability are a few
terms which can be directly associated with LOVELY products and company. All
the LOVELY products are users friendly, as they are designed while keeping the
needs and wants of the end user in minds.
The LOVELY research and development center is responsible for all the products
of LOVELY, which can also be called as variants or the more advance
developments or as complete new solutions. These high quality products are the
result of the LOVELY latest product testing technology and the team of experts
working towards it. Fixing technology is a process of constant innovation and
development, of record-breaking technology, in their research center.
Since the innovation and development of the world famous nylon sleeve (plugs), nearly 40 years back, LOVELY has produced many new revolutionary-Fixing Products and Tools (Hacksaw Frames, etc.). A continual exchange of information between professional, users, technical and research institutions guarantees the latest state of - the - art. And today we supply more than thousand anchor types all over world.
For their customers They provide a complete range of services:
- LOVELY information: this includes product catalogue, technical data.
- LOVELY advisory service: this includes on site fixings advice, special project advice, telephone technical information support and on-site testing.
- LOVELY delivery service: which ensures fast order processing and delivery.
- LOVELY has a very well trained and a competitive sales team, comprising of technical experts, which ensures the qualities service and the information reliability for the customers.
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 records 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.48.72 |
|
UK Pound |
1 |
Rs.82.17 |
|
Euro |
1 |
Rs.65.90 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|