MIRA INFORM REPORT

 

 

Report Date :

12.01.2011

 

IDENTIFICATION DETAILS

 

Name :

KHANNA EXIM

 

 

Registered Office :

N-107, (1st Floor), Greater Kailash, Part – 1, New Delhi – 110048

 

 

Country :

India

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

13.02.1996

 

 

IEC No.:

0595059902

 

 

PAN No.:

[Permanent Account No.]

AHHPK0776D

 

 

Legal Form :

Sole Proprietory Concern

 

 

Line of Business :

Manufacturer’s Representatives and Indenting Agent of Semiconductors, Photovoltaic, Polymers 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

 

Maximum Credit Limit :

USD 4000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established concern having satisfactory track. 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

 

Country Name

Previous Rating

(31.12.2009)

Current Rating

(01.04.2010)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

INFORMATION PARTED BY

 

Name :

Mr. Jitin Rai Khanna

Designation :

Proprietor

Contact No.:

91-9650012250

Date :

11.01.2011

 

 

LOCATIONS

 

Registered Office :

N-107, (1st Floor), Greater Kailash, Part – 1, New Delhi – 110048, India

Tel. No.:

91-11-29247734 / 23324177

Fax No.:

91-11-29237734

E-Mail :

jrk@khannaexim.com

Website :

http://www.khannaexim.com

Area :

2000 sq. ft. (Office + Residence)

Location :

Owned

 

 

SOLE PROPRIETOR

 

Name :

Mr. Jitin Rai Khanna

Designation :

Proprietor

Address :

N-107, (1st Floor), Greater Kailash, Part – 1, New Delhi – 110048, India

Date of Birth/Age :

36 Years

Qualification :

MBA

Experience :

14 Years

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer’s Representatives and Indenting Agent of Semiconductors, Photovoltaic, Polymers 

 

 

Brand Name :

MACTAC – USA

FUJI FILMS – BALGIUM

 

 

Terms :

 

Selling :

Cash and Credit (30 Days)

 

 

Purchasing :

Cash and Credit (30 Days)

 

 

GENERAL INFORMATION

 

No. of Employees :

10

 

 

Bankers :

Citi Bank Limited, Delhi

 

 

 

Banking Relations :

--

 

 

CAPITAL STRUCTURE

 

Capital Investment :

 

Owned :

Rs. 1.000 Million [Estimated]

Borrowed :

---

Total :

Rs. 1.000 Million [Estimated]

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

 

31.03.2010

31.03.2009

 

 

 

 

Sales Turnover

 

9.000

7.000

 

 

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

TRADE REFERENCE

 

  • Moser Baer
  • Reliance

 

 

AS PER WEBSITE DETAILS

 

PROFILE

 

Since 1995 subject has been serving various Indian industries and has been delivering consistently high business growth for overseas companies to whom they are representing. Their customers in India include both private and government owned organizations and their Principal companies are from all over the world from countries like China, UK, Germany, USA, EU, Russia etc.

 

PRODUCTS

1. Semiconductors 


They are managing a wide range of products in the Semiconductor Industry for the Indian market. The portfolio includes Silicon wafers of all types (EPI, SOI, FZ, Solar, GaAs, Saphire, Schottky  etc), Silicon chips, Quartz ware, quartz wool, Glass to metal seals, Ceramic to meal seals, metal to metal hermetic seals, near net forging by orbital cold forging, ceramic housings, metallized ceramics, End seals, Disc springs, Molybdenum Fabricated in various forms like Disc, Boats, Sheets, wire, plates, foil, powder etc,TZM, Tungsten in various form(Electrodes, contact points, sheet, coil etc)  for use in Defense/Nuclear/Automotive/engineering Industry, sputtering Targets, Nano materials, Tantalum, Niobium, Lead Frame, Epoxy Molding Compound, Bonding wire, Glass wafers for MEMS and variety of other products. Below, Getter, Special steel, Thoriated tungten wire, Tungsten electrode, Vacuum Interruptors and its components, Tape and reel.


2. Photovoltaics


This is a Industry where they are very well connected globally and ofcourse with whole of the Indian market. The products they are associated with are  EVA for lamination of cells in Modules, TPT film used as a back film in PV Modules,  Solar wafers for solar cells, Semiconductor reject wafers for solar cells, Tops, tails of Ingots, Special glass with a high transmission for use in PV Modules(tempered/toughened/raw/annealed), Silicon wafers for solar cell application, Silver paste for solar cells., Anodized Aluminium Frame


3. Filter Media


This is a field where they have a rich experience of last 5 decades. Infact their parent company was the first in India to introduce top German companies and were the pioneers in India to establish the Indian Automobile Filter Industry. In the past they were also managing the organization called INFILCO(Indian National Filtration Congress) which will be revived soon having members of the Filter Industry from all over India. They are managing all kinds of filter media used in variety of applications like Industrial filter media, automobile filter media, HVAC, Paint booth,  Breweries, etc., The filter media are nonwovens, Meltblwon, Spunbound, Filter paper and variety of other types used.


4. Polymers


PP, HDPE, LDPE, Engineering plastics, compounds, for use in automobiles, house appliances, Nuclear, defense and aerospace industry.

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.32

UK Pound

1

Rs.70.54

Euro

1

Rs.58.70

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

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

 

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

-

NB

                                       New Business

-

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.