MIRA
INFORM REPORT
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Report Date : |
24.10.2008 |
IDENTIFICATION DETAILS
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Name : |
1 FUTURE INTERNATIONAL |
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Registered Office : |
4/1, |
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Country : |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
1955 |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Trader and Exporters of Stainless Steel Bars, Stainless Steel Flanges,
Stainless Steel decorative tubes, stainless steel threaded bars, stainless
steel wires and tubes. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 5000 |
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Status : |
Small and unknown |
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Payment Behaviour : |
Slow and delayed |
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Litigation : |
Clear |
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Comments : |
Subject appears to be small and unknown concern. The management remained non-cooperative during our several attempts. Payments are reported as slow and delayed. Initially, the concern can be considered for any business dealings on
sage and secured trade terms and conditions, only. |
INFORMATION PARTED BY
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Name : |
Mr. Harish Munot |
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Designation : |
Partner |
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Contact No.: |
91-9820882448 |
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Date : |
22.10.2008 |
LOCATIONS
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Registered Office : |
4/1, |
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Tel. No.: |
91-22-23820233 / 23898829 / 56362725 |
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Mobile No.: |
91-9821091891 |
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Fax No.: |
91-22-23823697 / 23871507 |
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E-Mail : |
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Website : |
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Area : |
500 sq. ft. |
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Location: |
Owned |
PARTNERS
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Name : |
Mr. Manoj M. Munot |
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Designation : |
Partner |
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Qualification : |
B.COM |
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Name : |
Mr. Harish Munot |
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Designation : |
Partner |
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Qualification : |
B.COM |
BUSINESS DETAILS
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Line of Business : |
Trader and Exporters of Stainless Steel Bars, Stainless Steel Flanges,
Stainless Steel decorative tubes, stainless steel threaded bars, stainless steel
wires and tubes. |
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Products : |
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Stainless Steel as
per AISI-304, 304L, 316, 316L, 321, 4510, 310 grade etc. ·
Carbon Steel ( Alloy
Steel, EN series) ·
Copper, Brass,
Almunium, Phosphor Bronze, Monel, Nickel, INCONEL, Hast Alloy, Titanium and
any other type of metals in ASTM, BSS, ISS and all other international grades
in the shape of: -
Sheets -
Plates -
Coils -
Strips -
Plates -
Rounds -
Pipe -
Tubes -
Hex -
Squares -
Wires -
Circles -
Flanges |
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Exports : |
Stainless Steal |
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Countries : |
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Middle-East,
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Europe, ·
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Gulf and
Asian countries. |
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Imports : |
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Products : |
Steal |
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Countries : |
European Countries |
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Terms : |
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Selling : |
L/C Credit (30days) |
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Purchasing : |
L/C Credit (30days) |
GENERAL INFORMATION
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No. of Employees : |
6 |
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Bankers : |
Bank of Opera House. |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Vijay Bansal and Associates, Chartered Accountants. |
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Associates/Subsidiaries : |
1 Metal Aids |
CAPITAL STRUCTURE
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Capital Investment [Estimated] : |
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Owned : |
Rs. 1.000 Million |
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Borrowed : |
-- |
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Total : |
Rs. 1.000 Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2008 |
31.03.2007 [Estimated] |
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Sales Turnover |
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30.000 |
20.000 |
Expected Sales (2008-09) : Rs. 45.000 Millions
LOCAL AGENCY FURTHER INFORMATION
Trade Reference
- Larsen and Tubro
- Jindal Stainless Limited
- U. P. Steels Limited
- Steel Cast India Limited
- Electrosteel Limited
- BHEL
As Per Website
Profile
Fabricating Pipe fittings of all types in SS, CS, Copper, Brass
etc. These are manufactured in the form of Elbow, Tee, Reducer, Coupling and
Union Bend etc. Besides these, they also manufacture any type of engineering
items as per drawing.
Export
Markets
An expansion in countries like
Quality
As manufacturers, exporters and suppliers, it is their prime duty to see that
the international quality standards are met in their company. At Valsad,
Infrastructure
Metal Aids India is well-equipped with qualified and efficient personnel for inspection
purposes. Associated with a Govt. approved lab, they make sure that the
materials supplied by them are as per the required specification. A mainly
automatic line of machinery with excellent efficiency assists them in the
production of a global level product range. There is lot more to be mentioned
if you contact them for further information.
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 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.79 |
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UK Pound |
1 |
Rs.81.27 |
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Euro |
1 |
Rs.63.91 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
2 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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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 |
YES |
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--AFFILIATION |
YES/NO |
YES |
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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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22 |
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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