MIRA
INFORM REPORT
|
Report Date : |
15.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
RELIABLE STEEL DISTRIBUTORS |
|
|
|
|
Registered Office : |
29-B, Nakoda Bhavan, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2011 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.7.000 Millions |
|
|
|
|
Year of Establishment : |
1980 |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of Stainless Steel Pipes and Tubes, Carbon
Steel Pipes and Tubes etc. |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
||
|
|
|
|
|
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
|
Maximum Credit Limit : |
USD 28000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established partnership concern having satisfactory
track. Partners are reported to be experienced and respectable businessmen.
Trade relations are reported as fair. Business is active. Payments are
reported to be regular and as per commitments. 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) |
|
|
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. Nawaz Abdul |
|
Designation : |
Sr. Marketing Manager |
|
Contact No.: |
91-9819740913 |
|
Date : |
12.09.2011 |
LOCATIONS
|
Registered Office/ Warehouse : |
29-B, Nakoda Bhavan, |
|
Tel. No.: |
91-22-23871561/ 23829424/ 23898241 |
|
Mobile No.: |
91-9819740913 (Mr. Nawaz Abdul) |
|
Fax No.: |
91-22-23859458 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
350 sq. ft. |
|
Location : |
Owned |
PARTNERS
|
Name : |
Mr. Naresh Mehta |
|
Designation : |
Partner |
|
Age : |
44 Years |
|
Qualification : |
B.Com |
|
|
|
|
Name : |
Mr. Mahendra Kumar S.Mehta |
|
Designation : |
Partner |
|
Age : |
63 years |
|
Qualification : |
B.Com |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Stainless Steel Pipes and Tubes, Carbon Steel
Pipes and Tubes etc. |
|
|
|
|
Products : |
v
Stainless
Steel Seamless Pipes And Tubes v
Carbon
Steel Pipes And Tubes v
Alloy
Steel Seamless Pipes And Tubes v
Coil
Sheet Plates v
Pipes
Fittings v
Flanges v
Fasteners v
Angle
Channels And Bars |
|
|
|
|
Exports : |
|
|
Products : |
v
Pipes
and Tubes v
Fittings
|
|
Countries : |
v
v
European
Countries |
|
|
|
|
Imports : |
|
|
Products : |
v
Raw
Material |
|
Countries : |
v
v
v
v |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit (30 Days) |
|
|
|
|
Purchasing : |
L/C, Cash and Credit (30 Days) |
GENERAL INFORMATION
|
Customers : |
v End Users v OEM’s v Manufacturing
Companies |
|
|
|
|
No. of Employees : |
50 (Approximately) |
|
|
|
|
Bankers : |
|
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mr. Pawar and Company Chartered Accountant |
|
Address: |
|
|
|
|
|
Sister Concerns: |
Reliable Pipes and Tubes Limited Address: 29-B, Nakoda Bhavan, Activity: Manufacturer, Exporter and Supplier of Stainless Steel Pipes
and Tubes, Carbon Steel Pipes and Tubes etc. |
CAPITAL STRUCTURE
As on 2011
|
Capital Investment : |
|
|
Owned : |
Rs.7.000 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs.7.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sales Turnover |
450.000 |
400.000 |
350.000 |
|
|
|
|
|
Expected Sales (2011-2012) : Rs.500.000 Millions
The above information has been parted by Mr. Nawaz Abdul.
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
LOCAL AGENCY FURTHER INFORMATION
AS PER WEBSITE
Profile:
Subject is
professional suppliers in
Around 30 years back Reliable started
trading business supplying Steel Pipes and plates to the domestic market. Later
it Started Importing International grades materials to meet the critical
requirement of domestic consumers. Presently Reliable is
a proactive organization centralizing its Manufacturing, Importing, Trading and
Exporting activities under one roof. The aim is to provide complete business
solution along with Reliability, Efficiency and Creativeness to worldwide
clients at best competitive price and minimum delivery schedule. Reliable
has it existence since 1975 loaded with vast
experience of more than three decades towards engineering raw material and
other related field. They believe the excellent background and experience can
bring you more than you expect.
Covering from the areas of trading, importing, manufacturing
and exporting Reliable can comprehensively respond
to customer's requirements stage by stage and always tries to give full
responsibility to the customer in every field.
Reliable is
continuously developing innovative technology in each business field and trying
to maximize customer satisfaction by materializing
"The best value creating company" and opening a
new Engineering culture of the 21C.
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.47.84 |
|
|
1 |
Rs.75.40 |
|
Euro |
1 |
Rs.65.68 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.