MIRA
INFORM REPORT
|
Report Date : |
01.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
PROSOUND PRODUCTS |
|
|
|
|
Registered Office : |
Unit No. 25/31, SDF – I, Seepz, Andheri (East), Mumbai – 400 096,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2008 |
|
|
|
|
Year of Establishment : |
1990 |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
|
|
|
|
Line of Business : |
Manufacturer, Exporter and Importer of Sound Equipments. E.g.
Amplifiers and Mixers, Recording and Dubbing Equipments. |
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 2500 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established concern having satisfactory track. Partners are experienced, respectable and resourceful businessmen. Their trade relations are fair. Payments are correct and as per commitment. The concern can be considered good for normal business dealings at usual trade term and conditions. |
INFORMATION PARTED
BY
|
Name : |
Mrs. Jaya |
|
Designation : |
Accounts Executive |
|
Date : |
27.08.2008 |
LOCATIONS
|
Registered Office : |
Unit No. 25/31, SDF – I, Seepz, Andheri (East), Mumbai – 400 096,
Maharashtra, India |
|
Tel. No.: |
91-22-28291719/ 28290828 |
|
Fax No.: |
91-22-28292151 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1800 Sq. ft. |
|
Location : |
Rented |
|
|
|
|
Factory : |
Unit No. 31, 178, SDF – I, Seepz, Andheri (East), Mumbai – 400 096,
Maharashtra, India |
|
Area : |
1800 Sq. ft. |
|
Location : |
Leased |
PARTNERS
|
Name : |
Mr. Pradeep Ahuja |
|
Designation : |
Partner |
|
Qualification : |
B.E. |
|
|
|
|
Name : |
Mr. N S Ahuja |
|
Designation : |
Partner |
|
Qualification : |
B.E. |
|
|
|
|
Name : |
Mr. Sandeep Ahuja |
|
Designation : |
Partner |
|
Qualification : |
B.E. |
|
|
|
|
Name : |
Uni Sound Private Limited |
|
Designation : |
Partner |
|
|
|
|
Name : |
Mr. Amarnath N.
Ahuja |
|
Designation : |
Partner |
|
Date of Birth/Age : |
63 Years |
|
Qualification : |
B.E.
(Electricals) |
|
Experience : |
39 Years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Sound Equipments. E.g.
Amplifiers and Mixers, Recording and Dubbing Equipments. |
|
|
|
|
Products : |
v
Commercial/Installation
Audio Amplifiers v
Modular Audio
Mixing Consoles |
|
|
|
|
Brand Name : |
Marshall |
|
|
|
|
Exports : |
|
|
Countries : |
v UK v USA v France v Spain v Germany v Italy v Far East
Countries v The Netherlands v Argentina |
|
|
|
|
Imports : |
|
|
Countries : |
v France v China v USA v Japan v Hong Kong v Singapore v Taiwan v UK |
|
|
|
|
Terms : |
|
|
Selling : |
Credit (Advance) |
|
|
|
|
Purchasing : |
Credit (30-90 days) |
GENERAL
INFORMATION
|
Suppliers : |
v Kamil Electronics, Japan v Tokyo Electrical Company, Japan |
|
|
|
|
Customers : |
v Corporates v Wholesalers v Manufacturers |
|
|
|
|
No. of Employees : |
Total : 235 (Office : 35, Factory : 200) |
|
|
|
|
Bankers : |
v Indian Bank Overseas Branch, Lawrence and Mayo Building, D. N. Road, Mumbai – 400 001, Maharashtra, India v Bank of India Seepz Branch, Mumbai – 400 093, Maharashtra, India v Citi Bank Seepz Branch, Mumbai – 400 093, Maharashtra, India |
|
|
|
|
Facilities : |
Fund Based and NFB – Rs. 200.000 millions |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Dhirajlal Desai and Company Chartered Accountants Mumbai, Maharashtra, India Shreekant Kulkarni and associates Chartered Accountants |
|
|
|
|
Associates: |
v Unisound Private Limited, Seepz, Andheri, Mumbai, v Prolite and Sound, Seepz, Andheri, Mumbai, v Ahuja Plus, New Delhi |
|
|
|
|
Group Companies : |
v Ahuja Radios v Audioplus Group Turnover: Rs. 1000.000 millions |
CAPITAL STRUCTURE
As on 31.03.2005
|
Capital Investment : |
|
|
Owned : |
Rs. 0.500 million |
|
Borrowed : |
-- |
|
Total : |
Rs. 0.500 million |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
|
31.03.2008 |
|
Sales Turnover |
|
|
800.000 |
LOCAL AGENCY
FURTHER INFORMATION
As Per Website
Details
Subject is the preferred ODEM partner for many of the world’s leading Professional Audio Brands. Offering varied services from design and prototyping, through manufacturing and supply chain management, Subject is dedicated to delivering value through low-cost but high-efficiency, specialized Pro-Audio Solutions.
Established in 1976, Subject is part of the Ahuja Group of Companies. Established in 1940 by Mr. Amarnath Ahuja, the Group today has strength of over 1200 professionals. With an annual turnover of over US $ 40 Million, the Ahuja Group is a leader in the Indian Professional Audio market.
Whilst the other Group companies specialise in various activities in the Pro Audio industry, Subject focuses on offering customers ODM and OEM solutions for a range of Commercial/Installation Products, Electronic MI Products and DJ Sound and Lights.
The consistent commitment to world-class manufacturing
practices and quality standards have won us several prestigious Export and
Quality Achievement awards including the Award for Excellence in Electronics
from the Government of India.
Original Design and Manufacturing Services form the core of the
operations. They leverage the experience of more than 60 years in the Pro-Audio
industry to form a result-oriented partnership with the customers.
To guarantee the success they must first and foremost ensure the success
of the customers even in the most challenging of business climates. Whether
customers require assistance with one vital aspect of a product's development,
or a comprehensive outsourced solution for its entire lifecycle, PROSOUND is
well positioned to deliver.
They support a wide variety of customer requirements, from converting
ideas into products to re-engineering for cost reduction.
THE PROSOUND OD/OEM solution encompasses the complete spectrum of a
technology product lifecycle:
Products
PROSOUND manufactures a large variety of products for the
select and trusted group of customers. They understand the specialized needs of
each of the customer and do the utmost fulfill them.
They are a niche market supplier and take pride in having
over the years developed expertise in manufacturing products targeted for the
Professional Audio and Electronic MI market.
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 :
The 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.
The 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. 44.21 |
|
UK Pound |
1 |
Rs. 79.76 |
|
Euro |
1 |
Rs. 64.72 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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, they have no basis upon which to
recommend credit dealings |
No Rating |
|