MIRA
INFORM REPORT
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Report Date : |
24.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
GAGAN INTERNATIONAL |
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Registered Office : |
Miller Ganj, Street No.3, G T Road, Ludhiana – 141003, Punjab |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1996 but export started in 2004 |
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IEC No.: |
3003005651 |
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TIN No.: |
03291116994 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JLDG02295G |
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PAN No.: [Permanent
Account No.] |
AMDPS1597H AGJPG0650P |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Oil Mill Machinery Parts Like Oil
Expellers etc. |
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 15000 |
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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 commitments. 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. Goyal’s Brothers |
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Date : |
02.09.2008 |
LOCATIONS
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Registered Office/ Factory : |
Miller Ganj, Street No.3, G T Road, Ludhiana – 141003, Punjab, India |
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Tel. No.: |
91-161-4622134 |
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Mobile No.: |
91-9814722255/ 9915266000 |
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Fax No.: |
91-161-4625134 |
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E-Mail : |
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Website : |
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Area : |
1000 sq. yds |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Gagan Kumar Goyal |
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Designation : |
Proprietor |
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Address : |
Ludhiana |
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Date of Birth/Age : |
25 years |
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Qualification : |
Mechanical Engineer |
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Experience : |
3 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Oil Mill Machinery Parts Like Oil
Expellers etc. |
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Products : |
Ø Steel
Shaft Ø Chamber
Barrel Ø Cone
Point Ø Double
Helical Gears Ø Hard
Facing Electrodes Ø Worms
And Collars Ø Pulleys
And Belts Ø Barrel
Bars Ø Steel
Casting Ø Investment
Casting Ø Sugar
Mill Spare Parts Ø Industrial
Forgings |
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Exports : |
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Products : |
Oil Mill Machinery Spares |
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Countries : |
Ø USA Ø Germany Ø France Ø Malysia Ø Indonesia Ø Libya Ø Zambia Ø UK |
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Imports : |
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Products : |
Machinery |
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Countries : |
China |
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Terms : |
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Selling : |
Cash and Credit (30 days) |
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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 : |
24 (Office – 4 and Factory – 20) |
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Bankers : |
Allahabad Bank, Link Road, Ludhiana |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Amandeep and OCmpany Chartered Accountant |
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Address : |
Ludhiana, Gujarat, India |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.3.000 Millions |
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Borrowed : |
- |
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Total : |
Rs.3.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
SUMMARISED
FIGURES
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Particulars |
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31.03.2008 |
31.03.2007 |
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Proprietors Capital |
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3.000 |
2.210 |
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Current Liability |
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23.610 |
22.280 |
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Fixed Assets |
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13.200 |
12.910 |
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Inventories |
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4.500 |
5.000 |
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Cash and Credit Balance |
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1.146 |
1.110 |
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Misc. Expenses |
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0.080 |
0.005 |
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Sales Turnover |
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20.000 |
18.000 |
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Profit Before Tax |
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0.013 |
0.012 |
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Details |
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Existence
Verification |
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Name |
GAGAN INTERNATIONAL |
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Address |
Miller Ganj, Street No.3, G T Road, Ludhiana – 141003, Punjab, India |
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Tel. Number |
91-161-4622134 |
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Mobile Number |
91-9915266000 |
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Fax No.: |
91-161-4625134 |
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Electricity Bill |
Electricity Bill is in Name of Company Oil Mill Machinery Parts Etyc. |
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Statutory
Approvals |
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Legal Status of Firm |
Proprietorship (Mr. Gagan Kumar Gayal, Age – 25 years) |
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Income Tax Registration |
AGJPG0650P |
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VAT/ TIN Registration |
03291116994 |
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Import Export Code |
3003005651 |
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Name of Bank |
Allahabad Bank, Link Road, Ludhiana |
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RBI Code Number |
AGJPG0650P |
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Credibility
Factors |
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IndiaMART Client Since |
New Member |
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Years of Establishment |
1996 But Export Stated In 2004 |
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Trade
Affiliations |
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SSI Registration |
Nil |
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Govt. Recognised Export House Status |
Engineer Export Promotion Council |
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Standards &
Certifications |
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Quality Management Systems |
Yes Maintaining Full Quality Control |
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Environment Management Systems |
Nil |
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Safety Certificates |
Yes Maintaining Full Quality Control |
Trade Reference:
Ø Goyum Screw Press
Ø Gurtej Engineer Works, Ludhiana
Website Details:
Profile:
Since its inception 40 years
back, Company has built its reputation gradually in the international market
specifically in the engineering products industry. They manufacture and export
a host of products that serve numerous industrial applications. The all
encompassing range of their products comprise of Shafts, Chamber Barrel/press
cage, Cone Point, Double Helical Gears / gears, Hard Facing Electrodes, Worms
and Collars, Pulleys and Belts, Barrel Bars/Cage Bars, Steel Casting,
Investment Casting, Sugar Mill Spare Parts and Forgings.
They are empowered with a well oiled manufacturing facility that churns out an
impeccable range of products that is durable and reliable. The company works
under deadlines and has the expertise in adhering to strict work schedules.
They can manufacture the products in bulk quantities to meet the growing
demands of their customers.
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.45.72 |
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UK Pound |
1 |
Rs.84.81 |
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Euro |
1 |
Rs.67.60 |
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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