MIRA
INFORM REPORT
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Report Date : |
23.04.2011 |
IDENTIFICATION DETAILS
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Name : |
METAL TRADING CORPORATION |
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Registered
Office : |
39, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Year of
Establishment : |
1979 |
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Com. Reg. No.: |
C/WI-4183 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM215105D |
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PAN No.: [Permanent Account No.] |
AAEFM6045K |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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Line of Business
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Importers and Exporters of Stainless Steel and Nickel
Alloys |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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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 36000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established concern having satisfactory track. Partners are experienced, respectable and resourceful businessmen. Their trade relations are fair. Payments are correct and as per commitments. The concern can be considered good for normal dealings at usual trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Ms. Pragati |
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Designation : |
P.A. |
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Date : |
21.04.2011 |
LOCATIONS
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Registered Office : |
39, |
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Tel. No.: |
91-22-56362618 / 66362618 |
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E-Mail : |
mtc@bom4.vsnl.net.in |
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Website : |
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Location : |
Owned |
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Branch : |
35, Krishna Bhuvan, 203 / 204, 2nd
Floor, 1st |
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Tel. No.: |
91-22-23883922 / 23801334 / 56362577 |
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Fax No.: |
91-22-23883937 |
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E-Mail : |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Vijay M. Bhansali |
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Designation : |
Partner |
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Date of Birth/Age : |
35 Years |
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Qualification : |
M. Com |
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Experience : |
10 Years |
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Name : |
Mr. Maneklal S. Bhansali |
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Designation : |
Partner |
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Date of Birth/Age : |
57 Years |
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Qualification : |
H. S. C. |
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Experience : |
27 Years |
KEY EXECUTIVES
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Name : |
Ms. Pragati |
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Designation : |
P.A. |
BUSINESS DETAILS
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Line of Business : |
Importers and Exporters of Stainless Steel and Nickel
Alloys |
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Exports : |
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Products : |
Metal |
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Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
Credit (30 Days/ 60 Days), (Cheque) |
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Purchasing : |
Credit (30 Days/ 60 Days), (Cheque) |
GENERAL INFORMATION
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Suppliers : |
As on 31.03.2009 · Lucky Recycling Limited Mr. Almbar · Thyssen Krupp VDM Gmbh Tel No.: 49-2392-552830 Fax No.: 49-2392-552855 ·
Vitshokstraat1, Zwijndrecht
B-2070 Tel No.: 32-3-2522000
Fax No.: 32-3-2525351 |
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Customers : |
End Users As on 31.03.2009 ·
Bhabha Atomic Research Centre ·
Fertilizers and Chemicals Travancore
Limited ·
Cochin Shipyard Limited ·
FACT Engineering and Design
Organization ·
Hindustan Zinc Limited ·
HMT Limited |
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No. of Employees : |
12 (Approximately) |
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Bankers : |
Punjab National Bank, Nal Bazar Branch |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Manish Kothari and Company Chartered Accountants |
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Address : |
3A/28, R.M.L. Nagar, 306, L.B.S Marg, Kurla (West), Mumbai
– 400070, |
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Associates/Subsidiaries : |
Sister Concern:
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CAPITAL STRUCTURE
As on 31.03.2010
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Capital Investment : |
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Owned : |
Rs. 9.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 9.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
31.03.2011 (Approximately) |
31.03.2010 |
31.03.2009 |
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Sales Turnover |
240.000 |
200.000 |
180.000 |
LOCAL AGENCY FURTHER INFORMATION
Trade References:
- Lucky
Recycling Limited
- Thyssen Krupp
vdm gmbh
Profile:
Subject offers a one-stop-shopping plan for customers of High Performance Alloys and Stainless Steel.
Subject are specialists in High Alloy
Products particularly Nickel Alloys & Stainless Steels for the Fine
Chemicals, Fertilisers, Pharmaceutical, Agro-chemical, Petrochemical, Refining and
Chemical Process Industries.
They have a complete product line in Alloy 200/201 (commonly known as Nickel
200/201), Alloy C-22 (commonly known as Hastelloy C-22), Alloy C-276 (commonly
known as Hastelloy C-276), Alloy 825 (commonly known as Inconel 825),, Alloy
400 (commonly known as Monel 400), Alloy 600(commonly known as Inconel 600),
Alloy 625 (commonly known as Inconel 625), Alloy 800/800H/800HT (commonly known
as Incolloy 800/800H/800HT), as well as Titanium & various grades of
Stainless Steel in sheet, plate, pipe & bar. In addition they stock welding
products in Alloy C-22, Alloy C-276 Alloy 400, Alloy 600, Alloy 625 and Alloy
825.
All the Nickel Alloy products imported are of prime quality with correlating
Mill Test Certificate.
Subject manufactures welded pipes, pipe-fittings, flanges and fasteners in
Nickel Alloys from subcontractors. Forms and quantities not readily available
from stock can be produced in short periods of time.
Subject has an excellent reputation for supplying the highest quality
materials, immediate response to enquiries and delivery of materials promptly
and efficiently. They are dedicated to
constantly improving sources and quality.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.30 |
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|
1 |
Rs.72.92 |
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Euro |
1 |
Rs.64.69 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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 |
NO |
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--AFFILIATION |
YES/NO |
YES |
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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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46 |
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 |
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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NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.