MIRA
INFORM REPORT
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Report Date : |
17.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
BRASS HOUSE INDIA |
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Registered Office : |
C – 96, Gandhi Nagar, Moradabad – 244 001, Uttar Pradesh. |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1990 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Brass Wares. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 10000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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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
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Name : |
Mr.S.K.Goel |
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Designation : |
Chief Executive Officer |
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Contact No.: |
91-9837200256 |
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Date : |
30.08.2008 |
LOCATIONS
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Registered Office : |
C – 96, Gandhi Nagar, Moradabad – 244 001, Uttar Pradesh,India. |
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Tel. No.: |
91-591-2313326 / 2490576 |
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Mobile No.: |
91-9837200256 (Mr.S.K.Goel) |
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Fax No.: |
91-591-2490576 / 2493537 |
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E-Mail : |
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Website : |
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Factory cum Showroom : |
Akhilesh Theatre ,Adjacant to Post Office,Moradabad ,Uttar Pradesh,India |
SOLE PROPRIETOR
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Name : |
Mrs.Vibha Goel |
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Designation : |
Proprietor |
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Age : |
56 years |
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Qualification : |
Post Graduate |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Brass Wares. |
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Products : |
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Exports : |
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Products : |
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Countries : |
v U.S.A v Russia v Europe |
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Imports : |
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Products : |
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Terms : |
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Selling : |
L/C ,Cash and Credit |
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Purchasing : |
L/C ,Cash and Credit |
GENERAL
INFORMATION
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Customers : |
v End Users v Local Customers |
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No. of Employees : |
25 (Office + Factory) |
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Bankers : |
v Allahabad Bank,
International Branch Moradabad, Uttar
Pradesh, India |
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Facilities : |
The concern do not enjoy facility from its bankers. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Ajit Aggarwal and Associates Chartered Accountants |
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Address : |
Moradabad, Uttar Pradesh, India |
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Tel. No.: |
91-591-2320248 |
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Memberships : |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs 2.000 millions |
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Borrowed : |
0.000 |
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Total : |
Rs 2.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
10.000 |
10.000 |
8.700 |
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Profit/Loss for the year |
NA |
1.750 |
1.500 |
Expected Sales (2008-09) : Rs.10.000 millions
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCES:
v
AFONOJON OF (U.S.S.R)
As per website
details:
About Them
Subject offers a diverse range of products under a single roof at the most
competitive prices. They are a leading and renowned manufacturer and exporter
of EPNS Ware, Brass Hardware, Wood Carvings, Nautical Gifts, Herbal Products,
etc. They are an importer of the raw materials and scraps required for the
manufacture of their products, from the markets of USA and Europe. Ever since
their inception in 1990, there has been no looking back for them and they have
crossed every hurdle with much ease. This has become possible due to the
unalterable trust and tremendous support of their clients. It is due to their
satisfaction, that they have grown from strength to strength. They are known
for their authentic trade practices and regular introduction of innovative and
improved products.
Product Range
Meticulous attention is paid to their products, which determine the image of
their company in the marketplace. It is due to these products that they succeed
in withstanding the cut-throat competition and earning a competitive edge over
others.
Their
Infrastructure
They are backed by a team of diligent and efficient set of employees and
ultra-modern machineries as a part of their infrastructure. These form the
backbone of Brass House India, smoothening their operations and opening up all
the channels of their growth and advancement. Regular training and interaction
sessions, periodic salary hikes and attractive perks help them to yield the
desired results from their employees. Their machineries go through thorough lubrication
and the old ones are replaced with new and improved ones. It is due to their
world-class infrastructure that they are able to make rapid progress in the
international market.
Their Quality
Premium and flawless quality products form the hallmark of Brass House India.
Stern and top-notch quality checks are conducted at every level, right from the
manufacturing procedure till the final product is ready for delivery. These are
at par with the national and international standards and thus, there remains no
room for even the slightest of defects. This results in zero-defect and high
quality products for their esteemed customers, who deserve only the best.
- Reasonable
and competitive prices - the best in the industry
- Ability to
live up to the expectations of their customers
- Strict
adherence to the industrial norms and global quality standards
- Perfect
combination of skilled and devoted personnel as well as state-of-the-art
machineries
- Unparalleled
quality products manufactured following rigorous quality checks.
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.46.63 |
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UK Pound |
1 |
Rs.83.76 |
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Euro |
1 |
Rs.66.49 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
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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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
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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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