MIRA
INFORM REPORT
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Report Date : |
23.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
GURU NANAK ELECTRIC WORKS |
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Registered Office : |
Inside Oswal Agro Compound, Backside Oswal Wollen Mill, G T Road, Ludhiana
– 141 003, Punjab |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1998 |
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IEC No.: |
3008000983 |
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PAN No.: [Permanent
Account No.] |
ACFPS3274D |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Battery Charges |
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 12500 |
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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. Trade
relations are fair. Payments are usually correct and as per commitment. Nothing adverse reported. The concern can be considered normal for business dealings at usual
trade terms and conditions |
INFORMATION PARTED
BY
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Name : |
Mr. Avtar Singh |
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Designation : |
Proprietor |
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Contact No.: |
91-9814090227 |
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Date : |
06.09.2008 |
LOCATIONS
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Registered Office : |
Inside Oswal Agro Compound, Backside Oswal Wollen Mill, G T Road,
Ludhiana – 141 003, Punjab, India |
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Tel. No.: |
91-161-5027517 |
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Mobile No.: |
91-9814090227 |
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Fax No.: |
91-161-5027517 |
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E-Mail : |
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Website : |
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Area : |
600 sq yds |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Avtar Singh |
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Designation : |
Proprietor |
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Address : |
Ludhiana |
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Date of Birth/Age : |
38 Years |
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Qualification : |
ELEC. ENGG |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Prop and Family Members |
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25,00,000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Battery Charges |
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Exports : |
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Products : |
Battery charger and Transformers |
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Countries : |
Iraq |
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Terms : |
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Selling : |
Cash and Credit (30 days) |
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-- |
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Purchasing : |
Cash and Credit (30 days) |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
17 (Office-5, Factory- 12) |
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Bankers : |
State Bank of Bikaner and Jaipur, Ludhiana |
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Facilities : |
Limit 2.500 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
B.R. Rattan and company Chartered Accountant |
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Address : |
Ludhiana |
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]
SUMMARISED RESULTS
(Balance Sheet)
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
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Proprietor’s
Capital |
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2.500 |
2.410 |
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Fixed Assets
[Net Block] |
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4.200 |
3.910 |
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Current Assets,
Loans & Advances |
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Cash & Bank Balances |
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0.246 |
0.210 |
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Current
Liabilities & Provisions |
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Current Liabilities |
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6.610 |
6.280 |
PROFIT & LOSS
ACCOUNT
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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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12.000 |
11.500 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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12.000 |
11.500 |
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Profit/(Loss) Before Tax |
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0.905 |
0.859 |
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Provision for Taxation |
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-- |
-- |
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Profit/(Loss) After Tax |
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0.905 |
0.859 |
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Total Expenditure |
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11.095 |
10.641 |
KEY RATIOS
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
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PAT / Total Income |
(%) |
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7.54 |
7.46 |
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Net Profit Margin (PBT/Sales) |
(%) |
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7.54 |
7.46 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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20.35 |
20.84 |
LOCAL AGENCY
FURTHER INFORMATION
Trustseal Acceptance
Chart
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Existence Verification |
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Name |
Guru Nanak Electric Works |
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Address |
Inside Oswal Agro Compound, Backside Oswal Wollen Mill, G T Road,
Ludhiana – 141 003, Punjab, India |
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Phone/ Mobile Numbers |
91-161-5027517, 91-9814090227 |
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Fax Numbers |
91-161-5027517 |
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Electricity Bill |
Electricity Bill is in Name of Company |
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Statutory Approvals |
Proprietorship Company |
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Legal Status of Firm |
Mr. Avtar Singh Aged 38 Years |
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Income Tax Registration |
ACFPS3274D |
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VAT/ TIN Registration |
3321009744 |
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Import Export Code |
3008000983 |
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Name of Bank |
State Bank of Bikaner and Jaipur, Ludhiana |
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RBI Code Number |
ACFPS3274D |
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Credibility Factors |
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IndiaMART Client Since |
New Member |
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Years of Establishment |
1998 |
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Trade Affiliations |
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Govt. Recognised Export House Status |
Export Promotion Council |
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Standards & Certifications |
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Quality Management Systems |
Yes Maintaining Full Quality Control As Per |
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Safety Certificates |
Yes Maintaining Full Quality Control As Per |
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 :
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.45.40 |
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UK Pound |
1 |
Rs.83.15 |
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Euro |
1 |
Rs.65.74 |
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 |
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 |
NO |
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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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