|
Report Date : |
13.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
HARIOM ELECTRONICS |
|
|
|
|
Registered
Office : |
323/B, Basement 1 to 5, Opposite
Lucky Restaurant, Industrial Estate, GIDC, Makarpura, Vadodara – 390 010, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Year of
Establishment : |
December 2002 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. (0.213) Millions |
|
|
|
|
IEC No.: |
3412003492 |
|
|
|
|
VAT TIN No.: |
24191602432 |
|
|
|
|
CST TIN No: |
24691602432 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AFSPP6744H |
|
|
|
|
Legal Form : |
Sole Proprietary Concern |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter, Trader and Importer of all type of Precision
Load Cells, Force Sensors, Tension Transducers, Strain Guages, etc.. |
|
|
|
|
No. of Employees
: |
7 (Approximately) , (In Office 2 + In Factory 5) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Small Concern |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a small proprietary concern in its field. Its scale of
activities are limited. The concern has achieved better growth in its
turnover during 2013. Trade relations are reported as fair. Business is
active. Payments are reported to be slow but correct. The concern can be considered for small business dealings with some
cautions. |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Kamlesh |
|
Designation : |
Chief Executive Officer |
|
Contact No.: |
91-265-2651731 |
|
Date : |
03.07.2013 |
LOCATIONS
|
Registered Office / Factory : |
323/B, Basement 1 to 5, Opposite
Lucky Restaurant, Industrial Estate, GIDC, Makarpura, Vadodara – 390 010, |
|
Tel. No.: |
91-265-2651731/ 6548852 |
|
Mobile No.: |
91-9925025852 (Mr. Kamlesh) 91-9825275852 (Mr. N.I. Rana) |
|
Fax No.: |
91-265-2651731 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Rented |
|
Area : |
5000 sq.ft |
SOLE PROPRIETOR
|
Name : |
Mr. N.I. Rana |
|
Designation : |
Proprietor |
|
Address : |
C-27, Neelkanth Society, Behind Sonapark, Makarpura, Vadodara -
390010, |
|
Date of Birth/Age : |
01.06.1960 |
|
Qualification : |
Under Graduate |
|
Experience : |
22 Years |
KEY EXECUTIVES
|
Name : |
Mr. Kamlesh |
|
Designation : |
Chief Executive Officer |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter, Trader and Importer of all type of Precision
Load Cells, Force Sensors, Tension Transducers, Strain Guages, etc.. |
|
|
|
|
Products : |
· Automation Load Cell · Pan Cake Load Cell · S Beam Load Cell · Shear Beam Load Cell · Crane Load Cell ·
· Weigh Load Cell ·
Batch Controller |
|
|
|
|
Exports : |
|
|
Products : |
All types of Load Cells and Sensors |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Communication Cables |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS
(Per
Year)
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
All types of Load cells, Force Sensors, Tension Transducers, Strain
Guages, Industrial Sensors and Instrumentation and Controllers of Hariom
Electronics make and Brand |
Nos |
NA |
1,00,000 |
12000 to 35000 |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers, End Users and OEM’s |
|
|
|
|
No. of Employees : |
7 (Approximately), (In Office 2 + Factory 5) |
|
|
|
|
Bankers : |
·
Axis Bank, Manjalpur Branch, Vadodara, ·
State Bank of India, SME Branch, Makarpura
Industrial Estate, VCCI Building, Makarpura, Vadodara - 390010, Gujarat,
India Contact
No : 91-265-2647450 / 2638435 |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
J.M. Babari and Company Chartered Accountants |
|
Address : |
Helix Complex, Sayajigunj, Vadodara, |
|
|
|
|
Memberships (31.03.2012) : |
Vadodara Chamber of Commerce and Industries |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. (0.213) Millions |
|
Borrowed : |
-- |
|
Total : |
Rs. (0.213) Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
31.03.2013 |
|
Sales Turnover (Approximately) |
5.400 |
Expected Sales ( 2013-2014 ) : Rs. 7.500 Millions
The above information has been parted by Mr. Kamlesh (Chief Executive
Officer)
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital (Proprietor’s Capital) |
|
(0.213) |
(0.334) |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
(0.213) |
(0.334) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.053 |
0.082 |
|
|
2] Unsecured Loans |
|
0.460 |
0.400 |
|
|
TOTAL BORROWING |
|
0.513 |
0.482 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
0.300 |
0.148 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.284 |
0.326 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.635 |
0.561 |
|
|
Sundry Debtors |
|
1.133 |
1.174 |
|
|
Cash & Bank Balances |
|
0.085 |
0.097 |
|
|
Other Current Assets |
|
0.115 |
0.001 |
|
|
Loans & Advances |
|
0.070 |
0.035 |
|
Total
Current Assets |
|
2.038 |
1.868 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
2.001 |
1.802 |
|
|
Other Current Liabilities |
|
(0.014) |
0.225 |
|
|
Provisions |
|
0.035 |
0.019 |
|
Total
Current Liabilities |
|
2.022 |
2.046 |
|
|
Net Current Assets |
|
0.016 |
(0.178) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
0.300 |
0.148 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
2.895 |
2.443 |
|
|
|
Other Income |
|
0.001 |
0.022 |
|
|
|
TOTAL |
|
2.896 |
2.465 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
1.687 |
1.397 |
|
|
|
Labour Charges |
|
0.211 |
0.397 |
|
|
|
Carting and Freight Charges |
|
0.006 |
0.036 |
|
|
|
Electricity Charges |
|
0.039 |
0.102 |
|
|
|
Factory Rent |
|
0.135 |
0.000 |
|
|
|
Wages |
|
0.287 |
0.070 |
|
|
|
Advertising Expenses |
|
0.044 |
0.036 |
|
|
|
Bank Charges |
|
0.008 |
0.014 |
|
|
|
Bank Interest |
|
0.011 |
0.000 |
|
|
|
Calibration Charges |
|
0.008 |
0.000 |
|
|
|
Computer Expenses |
|
0.007 |
0.000 |
|
|
|
Depreciation |
|
0.053 |
0.061 |
|
|
|
Drinking Water Expenses |
|
0.004 |
0.007 |
|
|
|
Electrical Repairs |
|
0.003 |
0.000 |
|
|
|
Exhibition Expenses |
|
0.000 |
0.079 |
|
|
|
Insurance Expenses |
|
0.000 |
0.000 |
|
|
|
Interest on Professional Tax |
|
0.002 |
0.000 |
|
|
|
Interest on VAT / IST |
|
0.000 |
0.000 |
|
|
|
Kasar and Discount |
|
0.000 |
(0.003) |
|
|
|
Membership and Subsription Expenses |
|
0.000 |
0.005 |
|
|
|
Miscelleneous Expenses |
|
0.007 |
0.005 |
|
|
|
Office Expenses |
|
0.011 |
0.005 |
|
|
|
Poatage , Courier and Angadia |
|
0.007 |
0.012 |
|
|
|
Printing and Stationery |
|
0.014 |
0.006 |
|
|
|
Professional Charge |
|
0.010 |
0.000 |
|
|
|
Professional Tax |
|
0.002 |
0.000 |
|
|
|
Repairs and Maintanance |
|
0.003 |
0.000 |
|
|
|
Salary |
|
0.024 |
0.000 |
|
|
|
Sales Promotional expenses |
|
0.009 |
0.000 |
|
|
|
Telephone Expenses |
|
0.024 |
0.028 |
|
|
|
Tender Fee |
|
0.010 |
0.000 |
|
|
|
Vehicle Expenses |
|
0.022 |
0.009 |
|
|
|
TOTAL |
|
2.648 |
2.266 |
|
|
|
|
|
|
|
|
|
NET
PROFIT |
|
0.248 |
0.199 |
|
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
Yes |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
two years |
Yes |
|
13] |
Reasons for variation
<> 20% |
--------- |
|
14] |
Estimation for coming
financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if
applicable) |
Yes |
|
21] |
Market information |
-------- |
|
22] |
Litigations that the firm
/ promoter involved in |
-------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
-------- |
|
26] |
Buyer visit details |
-------- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
No |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
No |
|
31] |
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
32] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
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. 59.90 |
|
|
1 |
Rs. 90.88 |
|
Euro |
1 |
Rs. 78.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLV |
|
|
|
|
Report Prepared
by : |
|
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.