MIRA
INFORM REPORT
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Report Date : |
11.01.2011 |
IDENTIFICATION DETAILS
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Name : |
MULTICAB CORPORATION |
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Registered Office : |
Shop No. 1, Lawyers Chambers, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Year of Establishment : |
1996 |
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PAN No.: [Permanent
Account No.] |
AACPJ5382N |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Trader and dealer of cable wires, welding equipments and communication
equipments. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (49) |
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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 records. Trade relations are reported as fair. Business is active.
Payments are reported to be usually correct and as per commitments. 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
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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 : |
Mr. Girish Choudhary |
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Designation : |
Senior Accounts Manager |
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Contact No : |
91-9822609846 |
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Date : |
06.01.2011 |
LOCATIONS
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Registered Office : |
Shop No. 1, Lawyers Chambers, Picketroad, Kalbadevi, Mumbai – 400002, |
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Tel. No.: |
91-22-22059584 / 22082511 / 22087501 / 22077167 |
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Mobile No.: |
91-9822609846 (Mr. Girish Choudhary) |
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Fax No.: |
91-22-22033498 / 22059583 |
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E-Mail : |
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Website : |
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Area : |
450 Sq. ft. |
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Location : |
Rented |
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Warehouse : |
Chandanwadi, Near Marinelines Station, Mumbai – 400002, |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. Mahendra M. Jain |
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Designation : |
Proprietor |
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Date of Birth/Age : |
52 Years |
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Qualification : |
B. Com |
KEY EXECUTIVES
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Name : |
Mr. Girish Choudhary |
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Designation : |
Senior Accountant |
BUSINESS DETAILS
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Line of Business : |
Trader and dealer of cable wires, welding equipments and communication
equipments. |
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Agencies Held : |
Poly Cab Wires Private Limited |
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Terms : |
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Selling : |
Cash and Credit (30 days / 60 days / 90 days) |
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Purchasing : |
Cash and Credit (30 days / 60 days / 90 days) |
GENERAL INFORMATION
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Customers : |
v
Wholesalers v
Retailers v
Toyo Engineering India Limited v
Larsen and Toubro v
B. K. Birla Group of Companies v
Asian Paints v
Lupin Pharmaceuticals, Inc. v
Crompton Greaves |
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No. of Employees : |
30 (In office) (Approximately) |
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Bankers : |
Bank of Kalbadevi Branch, Mumbai – 400002, |
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Facilities : |
CC (Rs. 30.000 millions) |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Narendra Dave and Company Chartered Accountant |
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Address : |
Mumbai, |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
About Rs. 5.000 millions (Approximately) |
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Borrowed : |
-- |
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Total : |
About Rs. 5.000 millions (Approximately) |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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Sales Turnover |
800.000 (Approximately) |
830.000 |
930.000 |
Expected Sales (2010-11): Rs. 900.000 millions (Approximately)
LOCAL AGENCY FURTHER INFORMATION
Trade References
v
Toyo Engineering India Limited
v
Lupin Pharmaceuticals, Inc.
v
Crompton Greaves Limited
WEBSITE DETAILS :-
ABOUT US :-
They are a major
distributors and stockiest of wires and cables with an annual sale of
38 U S Million Dollars. They have an experience of two decades in this
industry, having one of the widest ranges of cables ready for immediate
dispatch. They are having a dedicated team of 50 people man power supporting
them. In the fast industrial expansion and economic growth, it is necessary to
produce and supply power in large volume to consistently maintain high growth
rate. For bulk power supplying, it is essential while transmitting bulk power,
logistic and safety must be paid additional attention. For supplying bulk
power, underground power supply through cable is an ideal solution.
Understanding this, a well-established and reputed company, Multicab
Corporation, distributes a wide range of supreme cables across
Since 1995, Subject has been
dedicated to providing exceptional service in the supply of electrical cables
and cable accessories. Today, They are a market leader.
They, offer an extensive range of contemporary EHV Cables, M.V - HT XLPE, LT XLPE Power Cable, LT PVC Copper Control Cable, FRLS/HR PVC Copper Cable, Instrumentation /Signal Cable, PVC Copper Flexible Wire, Telecommunication Cables, Co-Axial Cables approved by BS and other Standards. Their Cables are dispatched according to exact requirements of customers. Quality and cost-effective Electric xlpe Cables are widely preferred by customers. They procure Cables from renowned manufacturers to ensure perfect ness and excellence of Electrical EHV Cables. For long time, our company has been steadily but surely achieving 15 percent growth per annum, which is good sign for company and its valuable customers.
In addition to manufacturing new cable designs to exact client specification
with low minimum order quantities and short lead times, They can also improve
and modify many existing cable types to provide cost effective solutions.
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] 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. 45.44 |
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1 |
Rs. 70.61 |
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Euro |
1 |
Rs.58.63 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
6 |
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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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49 |
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.