MIRA INFORM REPORT

 

 

Report Date :

21.01.2011

 

IDENTIFICATION DETAILS

 

Name :

DEEPAK FASTENERS (AUSTRALIA) PTY LTD

 

 

Registered Office :

Factory 1a, 50 Rooks Road, Nunawading, Vic 3131

 

 

Country :

Australia

 

 

Date of Incorporation :

27.09.2007

 

 

Legal Form :

Proprietary company

 

 

Line of Business :

subject operates in the import and distribution of fasteners

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

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 – June 30, 2010

 

Country Name

Previous Rating

                   (01.04.2010)                  

Current Rating

(30.06.2010)

Australia

a1

a1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

                                                                                                

REGISTERED NAME      

 

DEEPAK FASTENERS (AUSTRALIA) PTY LTD

ACN: 127 740 210

ABN: 61 127 740 210

 

 

CORPORATE SEARCH

 

Incorporation State: VIC

 

Incorporation Date: 27 SEP 2007

 

Registered Office

FACTORY 1A,

50 ROOKS ROAD,

NUNAWADING

VIC 3131

 

Current Directors Total: 4

 

CARL BARRY NAISH – appointed: 27 SEP 2007

4 ROSEMONT Crescent KALORAMA, Victoria 3766

DOB: 23 DEC 1955 Male

 

SANJEEV KALRA – appointed: 27 SEP 2007

DOB: 13 MAR 1964

Resident overseas

 

KAILASH CHANDER KALRA – appointed: 27 SEP 2007

DOB: 14 MAR 1938

Resident overseas

 

DEEPAK KALRA – appointed: 27 SEP 2007

DOB: 09 MAY 1966

Resident overseas

 

Current Secretaries Total: 2

CARL BARRY NAISH – appointed: 27 SEP 2007

SANJEEV KALRA – appointed: 27 SEP 2007

 

Shares Issued

1000000

 

Paid Amount

$1,000,000


 

Shareholders Total: 1

DEEPAK FASTENERS LTD holds1 1,000,000 shares

 

                                               

BUSINESS STRUCTURE

 

TRADING ADDRESS                 67 to 69 Licola Cres

                                                DANDENONG SOUTH, VIC 3175           

 

POSTAL ADDRESS                   PO Box 4593
Dandenong South
Victoria. 3164               

 

TELEPHONE                             (613) 9894 0026

 

TRADING STYLE                       UNBRAKO

 

HOLDING ENTITY                      DEEPAK FASTENERS LTD

 

BANK                                       HSBC

                                               

EMPLOYEES                            20        

 

 

BACKGROUND

 

The subject was incorporated in Victoria on 27 September 2007 under the current style.

 

Operations commenced as a new venture in 2007.

 

Group operations were founded in India in 1956 and have grown to become the Largest Industrial Fasteners Manufacturer in India.

 

 

OPERATIONS

 

The subject operates in the import and distribution of fasteners.

 

Activities are conducted from premises located at the above listed trading address.

 

 

ADVERSE

                                               

A search of the failed to trace any litigation listed against the subject at that date.

 

 

FINANCES

 

During the current interview conducted with the subjects Financial Controller, Con he advised that for the last financial year ended 31 March 2010 the subject traded profitably and recorded revenue of $3,000,000.

 

A similar result is forecast for the current financial year ending 31 March 2011.

 

The subject maintains no overdraft facilities as all operations are funded through the internal cashflows of the company.

 

Further details pertaining to the subject’s financial position were unable to be obtained for the current enquiry.

 

 

TRADE SURVEY

 

The subject is noted to import most requirements. A trade survey on the subject traced the following accounts:

 

1.(VI Sa) Nominated supplier failed to respond to correspondence despite chasing.

 

 

SUMMARY

 

The subject was incorporated in Victoria on 27 September 2007 under the current style.

 

Operations commenced as a new venture in 2007.

 

For the last financial year ended 31 March 2010 the subject traded profitably and recorded revenue of $3,000,000.

 

A similar result is forecast for the current financial year ending 31 March 2011.

 

The subject maintains no overdraft facilities as all operations are funded through the internal cashflows of the company.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.58

UK Pound

1

Rs.72.73

Euro

1

Rs.61.45

 

 

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

 

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%)

 

 

 

 

 

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.