MIRA
INFORM REPORT
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Report Date : |
21.02.2011 |
IDENTIFICATION DETAILS
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Name : |
A-1 ELECTRICALS |
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Registered
Office : |
20, Alankar Chambers, Near Trikon Baug, Dhebar Chowk, Rajkot-360001, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Year of
Establishment : |
2006 |
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Legal Form : |
Sole Proprietary Concern. |
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Line of Business
: |
Manufacturer and exporter of power cable accessories and OEM products
for automobile. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 20000 |
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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 an established proprietory concern having satisfactory
track. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct. The concern can be considered normal for business 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
|
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 : |
Mr. Gandhi |
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Designation : |
Proprietor |
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Contact No.: |
91-9374820257 |
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Date : |
01.02.2011 |
LOCATIONS
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Registered Office / Factory : |
20, Alankar Chambers, Near Trikon Baug, Dhebar Chowk, Rajkot-360001,
Gujarat, India |
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Tel. No.: |
91-281-2581855 |
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Mobile No.: |
91-9374820257 (Mr. N. J. Gandhi) |
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Fax No.: |
91-281-2582486 |
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E-Mail : |
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Website : |
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Area : |
500Sq.ft. |
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Location : |
Owned |
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Distributors
Located At: |
For India : Ř Industrial
Products Agency, Gujarat India Ř Neminath Electricals,
Gujarat India For Far East
Region : Ř Cable
Accessories Networks Private Limited, Singapore For United
Kingdom : Ř Switchger and
Cable Accessories Limited Ř Top Cable
Accessories Limited For African
Region : Ř Doshi and Company
(Electrical) Limited, Kenya For Middle East
Region : Ř Electriway LLC,
UAE Ř Mostafa Bin
Abdullatif Group LLC, UAE Ř Muscat
Electrical and Switchgear Trading Company LLC, UAE Ř Global Power
Systems |
SOLE PROPRIETOR
|
Name : |
Mr. N. J. Gandhi |
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Designation : |
Proprietor |
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Qualification : |
Bsc |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and exporter of power cable accessories and OEM products
for automobile. |
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Exports : |
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Products : |
Power Cable Accessories |
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Countries : |
Ř Dubai Ř Iran Ř Iraq Ř France Ř Germany Ř United Kingdom |
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Terms : |
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Selling : |
Cash, Credit (30 days) |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
10(In Office-3 and In Factory-7) (Approximately) |
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Bankers : |
State Bank of India, Branch Dhebar Chowk, Rajkot, Gujarat, India. |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Unadekat and Company Chartered Accountant |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 5.000 millions (Approximately) |
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Borrowed : |
-- |
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Total : |
Rs. 5.000 millions (Approximately) |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2010 |
31.03.2009 |
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Sales Turnover |
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20.000 |
35.000 |
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(Recession) |
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Expected Sales (2010-2011) : Rs.45.000 millions
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCES
Ř Ariva – France
Ř Mitsubishi
WEB SIDE DETAILS
Subject was established in 2006, as a dedicated manufacturer and
supplier of power cable accessories and OEM products for automobile, oil and
gas and engineering sectors.
Their range of products includes
the following:
Ř
Industrial cable glands - A1/A2, BW and
CW gland kits
Ř
Cable glands for hazardous areas
Ř
Wiping glands and top hat gland kits
for power cable terminations
Ř
Copper and aluminum compression
terminals and splices
Ř
Insulated copper pin, ring and spade
terminals
Ř
Heat shrink joint and termination kits
for LV and MV power cables
Ř
Heat shrink tubings, breakouts, right
angle boots, straight boots and end caps
Ř
MV screened pre moulded separable
elbows and splices
Ř
Cable cleats
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Polymeric insulators
Ř
Overhead line compression and bolted
connectors and accessories
Ř
Custom made items from brass, copper
and aluminum metal by forging or casting process as per client requirements and
drawings
Subject has an extensive application engineering experience for
all of the above products and can therefore ensure the product recommendations
and the products supplied, are entirely fit for purpose - and provide a life
time trouble free service.
A quality management system ensures that, at all stages of
manufacturing process, from incoming raw material, to final assembly, rigorous
inspection tests are carried out to ensure the finished products meet or
surpass the design and performance requirements.
Subject is very active in promoting its products through distributors and to major utilities in a wide range of export markets, including Africa, the Middle East and Europe.
They strive to exceed customers expectations by providing quick
response to all enquiries, technically competent product recommendations,
competitive pricing and on time, every time, delivery performance
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.18 |
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|
1 |
Rs.73.04 |
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Euro |
1 |
Rs.61.43 |
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 |
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.