MIRA INFORM
REPORT
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Report Date : |
01.03.2011 |
IDENTIFICATION DETAILS
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Name : |
STELCO STEEL CENTRE |
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Registered Office : |
# 10E, |
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Country : |
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Date of Incorporation : |
Not Disclosed |
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Com. Reg. No.: |
Not Disclosed |
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Legal Form : |
Partnership Concern |
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Line of Business : |
Importers , Dealers & Distributors of Hardware |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment
Behaviour : |
Unknown |
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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) |
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b1 |
b1 |
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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
Name : Mr. M Karnaharam
Designation : Partner
Contact No. : (00 94 11)243 4216
Date : 25.02.2011
GENERAL- Basic information at a
glance
|
Name of Subject of Inquiry |
: |
STELCO STEEL CENTRE |
|
Legal Form & Status |
: |
Partnership Concern (In Operation) |
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Managing Partner |
: |
Mr. Gangadaran Mr. Karnaharan |
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Primary Line of Business |
: |
Importers , Dealers
& Distributors of Hardware |
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Office & Place of Business |
: |
# 10E, Tel No: (00 94 11)243
4216; 238 1313 Tel/Fax No:(00 94 11) 247 2479 Location : Owned |
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No. of Employees |
: |
Approx. 05 |
COMPANY DETAILS- Registration and Shareholder Details
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Registration No |
: |
Not disclosed |
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Date of Registration |
: |
Not disclosed |
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Registered Office |
: |
# 10E, |
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Proprietor |
: |
Gangadaran |
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Auditors |
: |
Not Disclosed |
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Company Secretaries |
: |
Not applicable |
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Bankers |
: |
Not Disclosed |
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CURRENT INVESTIGATION
HISTORY:
The Subject Company POWER STEEL is
a Proprietorship Concern in operation as General Merchants of importing &
distribution of hardware. The Proprietor, Mr.Gangadaran declined to provide any
details up to now. He says that his concern is dealing with sufficient number
of exporters and clientele.
The Proprietorship/ Partnership
companies are being registered at the Provincial Registrar of Companies and
when the owner does not provide the registration details it is not possible to
extract such details from the Registrar’s office.
Location:
The subject concern is located at the client given address # 10E,
Trading Terms:
Purchasing Term : Cash, Credit (30-90 Days)
Selling Terms : Cash, Credit (30-90 Days)
OPERATIONAL DETAILS:
General:
The subject company’ primary line of business is Importing and distribution of hardware items.
Products:
Zinc Coated Steel Sheets; Round/ Square/ Rectangle Tubes; Galvanises
Pipes; Scaffolding Clamps;
M.S. Angle Iron / Plates etc.
Importing Countries:
Importing Products:
Hardware
Employees:
Approx.05 employees.
Financial Data:
The Company has declined to provide
information on its Finances and also operational details.
In Sri Lanka, Private Limited
Liability/Proprietorship/Partnership Companies do not publish their Accounts
for Public use, other than the Shareholders
Credit
Recommendations:
Since no financial information has been forthcoming from the company, it is not possible to comment on the merits or otherwise of the company.
No computerised
data bases exist to make checks whether the promoters or the company has any
legal action or lawsuit initiated against any of them but informal (but not
in-depth) checks do not indicate any such cases in the public knowledge.
ANALYSIS - Appraisal and Rating of
Subject Company
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Rating: |
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Market Situation |
Competitive |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.18 |
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|
1 |
Rs.72.79 |
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Euro |
1 |
Rs.62.15 |
RATING EXPLANATIONS
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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 |
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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 |
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.