MIRA INFORM REPORT

 

 

 

Report Date :

16.09.2008

 

IDENTIFICATION DETAILS

 

Name :

DEEPA SOLAR LIGHTING SYSTEMS

 

 

Registered Office :

No. 19, 4th ‘C’ Main, Mahalakshmi Layout, Opposite Bnes College, Bangalore – 560 086, Karnataka

 

 

Country :

India

 

 

Financials (as on) :

31.03.2008

 

 

Year of Establishment :

2002

 

 

IEC No.:

0706004540

 

 

PAN No.:

[Permanent Account No.]

AALPH9720M

 

 

Legal Form :

Sole Proprietory Concern

 

 

Line of Business :

Manufacturer, Exporter and Importer of Solar Lighting System.

 

 

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 10000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well-established concern having steady business. 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. K.L.H. Raya

Designation :

Proprietor

Contact No.:

Mobile no.91-9845161187

Date :

15.09.2008

 

 

LOCATIONS

 

Registered Office/ Factory :

No. 19, 4th ‘C’ Main, Mahalakshmi Layout, Opposite Bnes College, Bangalore – 560 086, Karnataka, India.

Tel. No.:

91-80-23594462

Mobile No.:

91-9845161187

Fax No.:

91-80-23596942

E-Mail :

info@deepasolar.com

Website :

www.deepasolar.com

www.indiamart.com/deepasolarlighting

Area :

3000 sq ft (Office + Factory)

Location :

Leased 10 Years

 

 

SOLE PROPRIETOR

 

Name :

Mr. K.L.H. Raya

Designation :

Proprietor

Date of Birth/Age :

40 Years

Qualification :

B.E., PGDEM, VU3NWR

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Exporter and Importer of Solar Lighting System.

 

 

Products :
  • Solar Lanterns
  • Solar Water Heaters
  • Solar Garden Lighting
  • Solar Energy System
  • Solar Power Plants
  • Solar Chargers and Caps
  • Solar Home Lighting System
  • Solar Street Lighting System

 

 

Brand Names :

DEEPA

 

 

Exports :

 

Products :

Solar Lighting System

Countries :

European Countries

 

 

Imports :

 

Products :

Raw Material

Countries :

China, Germany

 

 

Terms :

 

Selling :

L/C, Credit 15 days or T/T

 

 

Purchasing :

L/C, Credit 30 days or T/T

 

 

GENERAL INFORMATION

 

Suppliers :
  • Bharat Heavy Electrical Limited, Blore
  • Kotak Urja, Mumbai
  • Nisaki Technology, Blore

 

 

Customers :

Wholesalers and End Users

 

  • Iit Chennai
  • Bharat Electronics Limited
  • Wipro –Bangalore.
  • Siemens - M. G. Road-Bangalore
  • Velenkani Software Complex-Electronic City-Bangalore.
  • Iisc Bangalore.
  • Namdhari Seeds Private Limited –Bidadi
  • B.E.L.-Bangalore.
  • Prestige Group – Bangalore
  • Wockhdart Hospital Bangalore
  • Dhyanapeeta Charitable Trust – Bangalore
  • Agni Aviation – Bangalore
  • Command Hospital Air Force Bangalore.
  • Bwssb – Bangalore
  • St.Patrics Cemetry – Bangalore
  • Pes College Of Engineering-Hosur Road-B’lore
  • Ramana Maharshi Seva Trust- Hosur Road Bangalore.
  • Science Park – Magadi Road Bangalore.
  • Brothers Of Holy Cross-St. Marks Road- B’lore.
  • Depaul Residential International School- Mysore
  • R.L. Jalappa Institute Of Technology- Doddaballapur B’lore Rural
  • St. Xavier’s Cathedral Church-Bangalore
  • Shakunthala Patil Residential School-Humnabad.
  • Sri Rakum School For The Blind- Indiranagar-B’lore
  • Sri Devaraj Urs Educational Trust-Tamaka- Kolar
  • B. C. M. Hostels--B’lore Urban And Rural
  • Twinklers School-Kanakapura Road-B’lore
  • Zilla Panchayath Madikeri
  • Zilla Panchayath Bangalore Urban
  • Devraj Urs. International Residential School-D. Ballapur-B’lore Rural.
  • Sambhram Institute Of Technology And Sambram Roost- Hesraghatta Road-B’lore.
  • Iafri –Magadi Road
  • St.Joseph’s Convent –Ananthpura A.P

 

 

No. of Employees :

40

 

 

Bankers :

State Bank of Mysore, Mahalashmi Layout Branch, Bangalore – 86.

ICICI Bank, Rajaji Nagar

 

 

Facilities :

CC – Rs.2.000 Millions (State Bank of Mysore)

 

 

 

Banking Relations :

Satisfactory

 

 

Auditors :

 

Name :

Mr. Bhusan and Company

Chartered Accountants

(Mr. Nagabhushan)

Address :

Karnataka

 

 

Associates/Subsidiaries :

NIL

 

 

CAPITAL STRUCTURE

 

 

Capital Investment :

 

Owned :

Rs.2.000 Millions (Estimated)

Borrowed :

--

Total :

Rs.2.000 Millions (Estimated)

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

 

 

31.03.2008

Sales Turnover

 

 

40.000

 

 

 

 

 

Expected Sales (2008-09): Rs.60.000 Millio

 

 

LOCAL AGENCY FURTHER INFORMATION

 

TRUSTSEAL ACCEPTANCE CHART

 

Existence Verification

 

Name

DEEPA SOLAR LIGHTING SYSTEMS

Address

No. 19, 4th ‘C’ Main, Mahalakshmi Layout, Opposite Bnes College, Bangalore – 560 086, Karnataka, India.

Phone/ Mobile Numbers

91-80-23594462/ 91-9845161187

Fax Numbers

91-80-23596942

Electricity Bill

N 3 EH 28645, N3 EH 28647-A

 

 

Statutory Approvals

 

Legal Status of Firm

Proprietorship Firm

Income Tax Registration

AALPH9720M

Service Tax Registration

AALPH9720M FT 001

VAT/ TIN Registration

2790361727

Import Export Code

0706004540 dated 01.06.2006

Name of Bank

State Bank of Mysore

Current Account Number

64016606086

Account Since

2 Years

 

 

Credibility Factors

 

IndiaMART Client Since

3 Years

Year of Establishment

2002

 

 

Trade Affiliations

 

SSI Registration

0801AB04776/ PMT/TINY dated 07.11.2003

Govt. Recognised Export House Status

Approved by MNER, Government of India

 

 

Standards & Certifications

 

Quality Management Systems

ISO : 9001

Environment Management Systems

ISO 14001, OHSAS 18001

 

 

TRADE REFERENCES:

 

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.94

UK Pound

1

Rs.82.84

Euro

1

Rs.65.95

 

 

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

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions