MIRA
INFORM REPORT
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Report Date : |
19.09.2011 |
IDENTIFICATION DETAILS
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Name : |
FCML PROJECTS |
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Registered Office : |
A-217, Okhla
Industrial Area, Phase -1, New Delhi - 110020 |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Year of Establishment : |
1996 |
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Capital Investment : |
Rs. 140.000
Millions |
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Legal Form : |
Partnership
Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Trader and Exporter of Sanitary Products. |
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No. of Employees : |
180 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (51) |
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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 560000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established partnership concern having fine track.
The concern is doing well. Partners are reported to be experienced,
respectable and resourceful businessmen. Trade relations are reported as
fair. Business is active. Payments are reported to be regular 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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
India |
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
|
Name : |
Mr. Deepak Sharma |
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Designation : |
Accounts Head |
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Contact No.: |
91-9350616405 |
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Date : |
16.09.2011 |
LOCATIONS
|
Registered
Office/ Head Office / Factory 1 : |
A-217, Okhla
Industrial Area, Phase -1, New Delhi – 110020, India |
|
Tel. No.: |
91-11-26372701 |
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Fax No.: |
91-11-26818113 |
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Mobile No: |
91-9350616405
(Mr. Deepak Sharma) |
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E-Mail : |
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Website: |
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Area: |
600 Sq.ft |
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Location: |
Owned |
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Showroom: |
Ø
Sultanpur
Chowk, Tel. No.: 91-11-26800482/26800492 Ø
M-67,
M Block Market, G. K. II, New Delhi-110048 Tel. No.: 91-11-40536612/14 Ø
32, Tel. No.: 91-44-55335550-2 Ø
65
Khan Market, New Delhi All showroom
Premises are Rented. |
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|
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Branch: |
Located At Ø
Arun
Chambers, Tardeo Road, Mumbai – 400034, Maharashtra, India Ø
Model
School Road, Thousand Light, Chennai Ø
35A Pappa
Complex, 17 Cross Cmti Road, Bangalore, Karnataka, India All premises are
rented. |
PARTNERS
|
Name : |
Mr. Nirmal
Khandelwal |
|
Designation : |
Managing Partner |
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Address : |
C-783, New
Friends Colony, |
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Date of
Birth/Age : |
60 Years |
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Qualification
: |
B.Com |
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Experience : |
40 Years |
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Name : |
Mr. Abhinav
Khandelwal |
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Designation : |
Partner |
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Address: |
C-783, New
Friends Colony, |
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Age: |
37 Years |
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Qualification: |
B.com , MBA |
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Experience: |
17 Years |
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Name : |
Mrs. Madhu
Khandelwal |
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Designation : |
Partner |
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Address: |
C-783, New
Friends Colony, |
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Age: |
58 Years |
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Qualification: |
B.com, MBA |
KEY EXECUTIVES
|
Name : |
Mr. Deepak Sharma |
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Designation : |
Accounts Head |
BUSINESS DETAILS
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Line of
Business : |
Trader and Exporter of Sanitary Products. |
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Exports : |
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Products: |
Sanitary Products |
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Countries : |
·
·
UK ·
Dubai ·
Sri
Lanka |
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Imports : |
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Products: |
Sanitary Products |
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Countries : |
·
Germany
·
·
·
UK ·
Canada |
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Terms : |
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Selling : |
L/C, Cash, Credit
, CAD |
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Purchasing : |
L/C, Cash, Credit
, CAD |
GENERAL INFORMATION
|
Customers : |
Ø
Retailers
Ø
Hotels Ø
ITC
Hotel, Gurgaon Ø
Uppal
Housing Private Limited, NBCC Bld., Lodhi, New Delhi |
|
|
|
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Supplier : |
Ø
Gessi
Ispa, Italy Ø
Laufen,
Switzerland |
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No. of
Employees : |
180 (in office + in
showroom + in branches) |
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|
|
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Bankers : |
Ø
ICICI
Bank, Connaught Place, New Delhi, India |
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Facilities : |
Total Facility
of Rs.230.000 Millions |
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Banking Relations : |
-- |
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Auditors : |
P.K. Behl And
Company Chartered Accountant |
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Address: |
108, Jama Masjid,
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Tel. No.: |
91-11-23268305 /
23277698 |
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Sister
Concern: |
·
Ajanta
Trading Company, Address: 3607, Chawri Bazar, ·
FCML
Distributors Private Limited Address: A 217, Okhla Industrial Area, 110 020, New Delhi-India ·
FC2
Life Style Retail Private Limited ·
FCML
Surfaces Private Limited |
CAPITAL STRUCTURE
|
Capital
Investment : |
|
|
Owned : |
Rs. 140.000
millions |
|
Borrowed : |
--- |
|
Total : |
Rs. 140.000
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
31.03.2011 |
31.03.2010 |
|
Sales Turnover (Approximately) |
|
720.000 |
630.000 |
Expected Sales (2011-2012) : Rs. 900.000 Millions
The above information has been parted by (Mr. Deepak Sharma – Accounts
Head )
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCES:-
Ø
ITC
Hotel, Gurgaon
Ø
Uppal
Housing Private Limited
Ø
Gessi
Ispa, Italy
Ø
Laufen,
Switzerland
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. 47.46 |
|
|
1 |
Rs. 74.95 |
|
Euro |
1 |
Rs. 65.79 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
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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 |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
51 |
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 |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.