MIRA
INFORM REPORT
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Report Date : |
22.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
RAJ INDUSTRIAL CORPORATION |
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Registered Office : |
29/14, Street, No. 6, Anand Parbat Industrial Area, New Delhi – 110
005 |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1960 |
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IEC No.: |
*0503017159 |
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PAN No.: [Permanent
Account No.] |
AAAFR4311D |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturer and Exporter of Sheet Metal Parts and Components |
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 13000 |
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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 satisfactory track
records. Trade relations are fair. Payments are usually correct and as per
commitments. It can be considered normal for business dealings at usual trade terms
and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Sahaj Sehgal |
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Name : |
Mr. Sanjeev Sehgal |
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Designation : |
Partner |
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Date : |
17.09.2008 |
LOCATIONS
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Registered Office / Factory: |
29/14, Street, No. 6, Anand Parbat Industrial Area, New Delhi – 110
005, India |
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Tel. No.: |
91-11-28763683 |
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Mobile No.: |
91-9810034949 / 9958958599 |
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Fax No.: |
91-11-28764732 |
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E-Mail : |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Rajeev Sehgal |
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Designation : |
Partner |
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Date of Birth/Age : |
47 years |
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Qualification : |
B. Com |
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Experience : |
24 years |
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Name : |
Mr. Sanjeev Sehgal |
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Designation : |
Partner |
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Date of Birth/Age : |
45 years |
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Qualification : |
B. Tec |
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Experience : |
22 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Sheet Metal Parts and Components |
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Products : |
· Sheet Metal Parts · Precision Turned Parts · Automotive Spare Parts · Deep Drawn Components · CNC Turned Components · General Engineering Components · Forged Machined Components · Aluminium Forgings · Steel Springs |
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Exports : |
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Products : |
· Sheet Metal Parts · Precision Turned Parts · Automotive Spare Parts · Deep Drawn Components · CNC Turned Components · General Engineering Components · Forged Machined Components · Aluminium Forgings · Steel Springs |
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Countries : |
Asian Countries |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS
Capacity to increase production by: 50%
GENERAL INFORMATION
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Suppliers : |
Own Manufacturing |
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Customers : |
· Agricultural Equipment · Electrical Equipment · Aeronautical · Defence · Railways · Ordinance Factories · Machinery Builders · Automobile An ISO 9001 : 2000 Certified Concern |
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No. of Employees : |
40 |
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Bankers : |
Canara Bank, Shakti Nagar, Delhi, India |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.500 millions |
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Borrowed : |
---- |
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Total : |
Rs. 2.500 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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30.000 |
25.000 |
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Profit/Loss for the year |
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12% |
12% |
Expected Sales (2008-09): Rs.40.000 millions
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Detail |
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Existence Verification |
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Name |
RAJ INDUSTRIAL CORPORATION |
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Address |
29/14, Street, No. 6, Anand Parbat Industrial Area, New Delhi – 110
005, India |
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Phone Numbers |
91-11-28763683 |
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Fax Number |
91-11-28764732 |
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Statutory Approvals |
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Legal Status of Firm |
Partnership Firm |
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Income Tax Registration |
AAAFR4311D |
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VAT / TIN Registration |
*07680069453 |
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Import Export Code |
*0503017159 |
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Name of Bank |
Canara Bank, Shakti Nagar, Delhi, India |
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Creditability Factors |
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India Mart Client Since |
1960 |
WEBSITE DETAILS:-
Subject leverage on their well developed marketing network and trade
extensive variety of engineering components. Their range includes precision
turned components, CNC turned components, sheet metal parts, deep drawn components
and forgings that meet specific requirement of the clients.
In depth knowledge of the market and long trading expertise has enabled them to
establish direct alliance with leading and quality conscious manufacturers of
various products that they offer.
This not only ensures flawless range of end products but also their easy
availability at market leading prices. Their judicious investment to streamline
and expand their trading capabilities enables them to meet the ever growing
demand for high precision CNC turned components and fasteners. Quality being
their forte, they ensure that their products conforms to industry defined
standard.
Apart from quality, they pay highest of importance on extending prompt response
to their customers requirement. Their progressive business approach enables
them to understand customers’ requirements and offer products as required
within minimum lead time. For each of transaction, they accept payments from
clients through various payment modes viz. cash, demand draft, L/C, T/T etc.
Business Values
· Value of faith with employees and business associates.
· Value of customer’s time.
· Honesty in dealings.
· Committed approach with their customers.
· Value of money spent by the customer.
Mission:
To
consistently maintain a positive growth in trading of engineering components
and ensure consistency of quality and cost to client across the globe.
Components
They Offer
They work towards meeting the vast need of engineering equipment across different
industries. Their range of components includes Sheet Metal Parts:
· Deep Drawn Components
· Precision Turned Parts
· Automotive Spare Parts
· CNC Turned Components
· General Engineering Components
· Aluminium Forgings
· Forged Machined Components
· Steel Springs and more.
Procured from
quality certified manufacturers, all their products are:
· Resistant
· Corrosion
· Dimensionally accurate
· Durable
· Precise in dimension
· Smooth in finish
· Quality approved
Their unflinching hard-work in the pursuit of excellence makes them
offer qualitative products that conform to various international standards.
Industries
They Cater To
Making the best use of their trading expertise, they cater to diverse
segments wherein their range of products are used. The different industries they
cater to are:
· Agricultural equipment
· Electrical equipment
· Aeronautical
· Defence
· Railways
· Ordnance Factories
· Machinery builders
· Automobile
Their products are turned on sophisticated machines that provide them.
Team
They are a fast growing and trusted trader of engineering components,
supported by a group of expert marketing and procurement officials, experienced
engineers and trading specialists, who help them to procure and deliver a large
range of products as per the exact specifications of their clients. Good market
exposure, in depth product knowledge and a smart approach of out teams members
as enables them to mark their presence across the domestic and international
market.
It is the expertise of their teams that enables them to meet the requirements
of Defence, Railways, DGS and D, Ordnance Factories, Automobile Industries,
international buyers and others.
Quality Compliance
They are an ISO 9001:2000 certified concern,
operating of defined quality norms. Be it procurement, packaging or delivery
all their processes are monitored for effective quality governance. Their well
defined approach and association with leading as well as quality conscious
manufacturers help them to deliver flawless components.
It is their team of procurement specialists who put in measured efforts to
ensure that the products sourced are of approved quality and are throughly
assessed at manufacturer's premise for necessary quality parameters.
Warehousing And
Packaging
They possess a spacious warehouse to store the procured products in
bulk. The extensive capacity to store inventory enables them to fulfill the
large / orders speedily. Their effective logistic process and ware-house
management system, eases the dispatch process.
Moreover, they are also sup[ported by a packaging team, which inspects products
packaging and meets client's packaging specifications. Thus assuring that the
orders are transported in original conditions to the clients. They facilitate
their clients with custom packaging, wherein they can individual or bulk pack
orders as per client's specifications.
Why
Them?
Some of the unique
features that set their concern apart from other market players are:
· Stringent quality checks of procured products before dispatch
· Wide market network to ensure easy availability of products
· Adherence to quality standards
· Efficient distributor network
· Capacious warehouse
· On time delivery
· Competitive prices
· prompt response to client query
CMT REPORT
(Corruption, Money Laundering and 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.32 |
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UK Pound |
1 |
Rs.83.57 |
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Euro |
1 |
Rs.65.90 |
SCORE and 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 |
YES |
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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 and 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 and 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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