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Report Date : |
16.05.2012 |
IDENTIFICATION DETAILS
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Name : |
PHILIPS METAL INDUSTRIES |
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Registered
Office : |
37, |
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Country : |
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Year of Establishment : |
1997 |
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Capital
Investment / Paid-up Capital : |
Not Divulged |
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IEC No.: |
0305042670 |
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PAN No.: [Permanent Account No.] |
AABFP4462C |
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Legal Form : |
Partnership Concern with an unlimited liability of the partners. |
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Line of Business
: |
Trader and Distributor of Stainless Steel, Alloy Steel, Carbon Steel,
Pipes, Pipes Fittings, Flanges, Plates |
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No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (31) |
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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 |
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Comments : |
Subject is a well established partnership concern having moderate
track. Mr. Husan (Supervisor) has provided to us the general information and denied
to disclose the financial details. However, trade relations are reported as
fair. Business is active. Payments are unknown. The concern can be considered for business dealings with some caution.
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NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY (General Details)
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Name : |
Mr. Husan |
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Designation : |
Supervisor |
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Contact No.: |
91-22-23820045 |
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Date : |
15.05.2012 |
LOCATIONS
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Registered Office : |
37, |
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Tel. No.: |
91-22-23820045 |
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Fax No.: |
91-22-66109349 |
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E-Mail : |
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Website : |
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Area : |
500 Sq. ft. |
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Location : |
Owned |
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Factory 1 : |
Plot 1301/1302, Kalamboli Stockyard, Kalamboli, New Mumbai, |
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Location : |
Owned |
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Factory 2 : |
124, Steel Carrier complex, Dahisarmori
Road, Dist. Panvel, New Mumbai, Maharashtra, India. |
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Tel. No.: |
91-22-23820045 / 23820046 |
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Fax No.: |
91-22-23824659 |
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Location : |
Leased |
PARTNERS
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Name : |
Mr. Mukesh G Jain |
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Designation : |
Partner |
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Qualification : |
B.Com |
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Name : |
Mr. Kanti K Jain |
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Designation : |
Partner |
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Qualification : |
B.Com |
KEY EXECUTIVES
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Name : |
Mr. Husan |
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Designation : |
Supervisor |
BUSINESS DETAILS
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Line of Business : |
Trader and Distributor of Stainless Steel, Alloy Steel, Carbon Steel,
Pipes, Pipes Fittings, Flanges, Plates |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
Alloy Steel |
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Countries : |
·
·
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers and End Users |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
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Banking
Relations : |
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Auditors : |
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Name : |
P C Surana and Company Chartered Accountants |
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Address : |
Mumbai |
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Mobile No.: |
91-9820468161 |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Divulged |
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Borrowed : |
-- |
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Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
in Rupees Millions]
NOT DIVULGED
The above information has been parted by Mr. Husan
Note : Sole Proprietory and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry
Records.
LOCAL AGENCY FURTHER INFORMATION
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Available
in Report [Yes/No] |
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Year
of Establishment |
Yes |
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Locality
of the Firm |
Yes |
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Construction
of the firm |
Yes |
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Premises
details |
Yes |
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Type
of Business |
Yes |
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Line
of Business |
Yes |
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Promoters
background |
Yes |
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No.
of Employees |
Yes |
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Name
of Person Contacted |
Yes |
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Designation
of contact person |
Yes |
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Turnover
of firm for last three years |
No |
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Profitability
for last three years |
No |
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Reasons
for variation <> 20% |
- |
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Estimation
for coming financial year |
No |
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Capital
the business |
No |
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Details
of sister concerns |
No |
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Major
Suppliers |
No |
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Major
Customers |
No |
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Payment
Terms |
Yes |
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Export
/ Import Details [If Applicable] |
Yes |
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Market
Information |
- |
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Litigations
that the firm / promoter involved in |
- |
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Banking
Details |
Yes |
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Banking
Facility Details |
No |
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Conduct
of the banking account |
- |
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Buyer
visit details |
- |
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Financials,
if provided |
No |
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Incorporation
details, if applicable |
No |
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Last
accounts filed at ROC |
No |
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Major
Shareholders, if applicable |
No |
AS PER WEBSITE DETAILS:
HISTORY
A journey of 1000 miles starts with a single step
A journey that started almost 2 decades back.
They have walked a long way and with each step they have left an everlasting
impression in the minds of there customers. In there journey they have overcome
many obstacles to be one of the most reliable and trusted company globally.
Achieving the unachievable, doing things which
seems impossible, but with true integrity and withstanding there values,
principles makes them a true leader. Today the future looks more promising to
march in a direction that leads to the door of every customer who has anything
to do with only one thing: METALS
Indian steel industry plays a significant role
in the country’s economic growth. The major contribution directs the attention
that steel is having a stronghold in the traditional sectors, such as
infrastructure and constructions, automobile, transportation, industrial
applications etc.
Moreover, steel variant stainless steel is finding
innovative applications due to its corrosion resistive property.
The country has acquired a central position on
the global steel map with its giant steel mills, acquisition of global scale
capacities by players, continuous modernization and up gradation of old plants,
improving energy efficiency, and backward integration into global raw material
sources. Global steel giants from across the world have shown interest in the
industry due to its phenomenal performance. For instance - the crude steel
production in
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.53.84 |
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|
1 |
Rs.86.72 |
|
Euro |
1 |
Rs.69.17 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
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|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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31 |
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 |
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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 |
|
- |
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.