MIRA INFORM REPORT
|
Report Date : |
25.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
R P ELECTRONICS |
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Registered
Office : |
B-7/2, Okhla Industrial Area-II, New Delhi – 110 020 |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Year of
Establishment : |
1973 |
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Capital
Investment / Paid-up Capital : |
Rs.25.000 millions (Estimated) |
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TIN No.: |
07120049876 |
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PAN No.: [Permanent Account No.] |
AAAFR4909H |
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Legal Form : |
Partnership concern with an unlimited liability of the partners |
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Line of Business
: |
Importer, Exporter and Trader, Marketing and Distribution house engaged in promoting business of "Nippo" range of products, being variety of "AAA', 'AA', 'C' and 'D' size Batteries/Torches manufactured under licence of Matsushita Electric Industries, Japan. Emergency Lights, Brass Torches. |
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No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (47) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 100000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an
established partnership concern having satisfactory track record. Trade relations are
fair. Business is active. Payment terms are reported as usually correct. The concern can
be considered 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 – December 1, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
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 |
INDIAN ECONOMIC OVERVIEW
India’s current account deficit for the fiscal third quarter ended
September 2013 narrowed to $4.2 billion or 0.9 % of the gross domestic product
from $31.9 billion or 6.5 % of GDP a year earlier, thanks to a pick-up in
exports and moderation in gold imports. Manufacturing activity and new orders
in India showed their strongest growth in a year in February. The news comes as
a relief after data showed Asia’s third largest economy grew by a
slower-than-expected 4.7 % annually in the three months through December. The
HSBC Manufacturing Purchasing Managers’ Index which gauges the business
activity of India’s factories but not its’ utilities, rose to 52.5 in February,
its highest in a year from 51.4 in January. Overall new orders for factory
goods which rose to a one-year high of 54.9 contributed to the surge. China has
emerged as India’s biggest trading partner in the current financial year
replacing the United Arab Emirates and pushing it to the third spot.
India-China trade has reached $49.5 billion with a 8.7 % share in India’s total
trade. The US comes second at $46 billion with 8.1 % share during the first
nine months of the current financial year.
The Reserve Bank of India has granted an additional nine months to the
public to exchange currency notes printed before 2005 including Rs 500 and Rs
1,000 denominations, pushing the deadline to January 1, 2015. A day before
dates for the Lok Sabha polls were announced, the government decided to hike
interest rates on fixed deposit schemes offered by post offices up to 0.2 per
cent. The new rates will be effective April, 1. The Supreme Court will resume
hearing on March, 11 Nokia’s appeal against a ruling over transferring
ownership of its local mobile phones plant which is the subject of a tax
dispute to Microsoft Corp.
In the last days of the current Government, another scam has surfaced.
The defence ministry has ordered a probe into Hindustan Aeronautics Limited’s
contracts from Britain’s Rolls-Royce Holdings worth at least $ 1.2 billion. The
Central Bureau of Investigation will look into allegations that over $80
million was paid in kickbacks in a deal signed in 2011. India has asked Boeing
Co. to find a solution for problems with state-owned Air India’s 787
Dreamliners. The aircraft has experienced a series of malfunctions since its
debut in 2011.
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. Ramesh Kapoor |
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Designation : |
Manager |
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Contact No.: |
91-9873590305 |
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Date : |
19.03.2014 |
LOCATIONS
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Registered Office : |
B-7/2, Okhla Industrial Area-II, New Delhi – 110 020,
India |
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Tel. No.: |
91-11-40500800/ 14 |
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Mobile No.: |
91-9873590305 (Mr. Ramesh
Kapoor) |
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Fax No.: |
91-11-41704942 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Branch Office 1 : |
III M-30C, Nehru Nagar, Ambedker
Road, Ghaziabad – 201 001, Uttar Pradesh, India |
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Branch Office 2 : |
S.S. Tower, New Colony Behind
Jayanti Bazar Jaipur – 302 001,
Rajasthan, India |
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Branch Office 3 : |
Godown No.2, Manocha
Building, Hissar Road, Rohtak – 124 001, Haryana,
India |
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Branch Office 4 : |
Village-Pabhat, Chandigarh
Ambala Road, Zirakpur – 140
603, Punjab, India |
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Branch Office 5 : |
SCO 823, Shivalik Inclave, NAC Manimajra Chandigarh – 160 101, India |
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Branch Office 6 : |
126-A, Gandhi
Nagar, Jammu – 180 001, Jammu
and Kashmir, India |
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Branch Office 7 : |
Sector-1, Parwanoo – 180 004, Himachal Pradesh, India |
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Branch Office 8 : |
Shop No Shivprsad Building, Gat No.189, H.No.1-A-32, Near
Hindustan Leave Co, Saswar Road, Phursunigtal Haveli, Pune – 412 308, Maharashtra, India |
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Branch Office 9 : |
251, Jalupura, S.C.
Road Jaipur – 302 001,
Rajasthan, India |
PARTNERS
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Name : |
Mr. R.P. Khaitan |
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Designation : |
Partner |
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Address : |
W-58, Greater
Kailash, Part-11 New Delhi – 110 048, India |
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Name : |
Mr. G.K. Jiwarajka |
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Designation : |
Partner |
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Address : |
W-58, Greater
Kailash, Part-11 New Delhi – 110 048, India |
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Name : |
Mr. K.K. Jiwarajka |
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Designation : |
Partner |
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Address : |
161, N.W.C. Grand Parade Apartment,
August Kranti Marg, Mumbai – 400 036, Maharashtra, India |
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Name : |
Mr. S.K. Jiwarajka |
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Designation : |
Partner |
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Address : |
161, N.W.C. Grand Parade Apartment,
August Kranti Marg, Mumbai – 400 036, Maharashtra, India |
KEY EXECUTIVES
|
Name : |
Mr. Ramesh Kapoor |
|
Designation : |
Manager |
BUSINESS DETAILS
|
Line of Business : |
Importer, Exporter and Trader, Marketing and Distribution house engaged in promoting business of "Nippo" range of products, being variety of "AAA', 'AA', 'C' and 'D' size Batteries/Torches manufactured under licence of Matsushita Electric Industries, Japan. Emergency Lights, Brass Torches. |
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Terms : |
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Selling : |
Cash and Credit (30 days) |
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Purchasing : |
Cash and Credit (30 days) |
GENERAL INFORMATION
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Customers : |
Retailers and Others |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
Canara Bank, 74, Janpath, New Delhi – 110 001, India |
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Banking
Relations : |
-- |
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Auditors : |
Not Available |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
AS ON 31.03.2013
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Capital Investment : |
|
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Owned : |
Rs.25.000 millions (Estimated) |
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Borrowed : |
-- |
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Total : |
Rs.25.000 millions (Estimated) |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
31.03.2013 |
31.03.2012 |
|
Sales Turnover (Approximately) |
|
300.000 |
250.000 |
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The above information has been parted by Mr. Ramesh Kapoor (Manager).
Note : Sole Proprietary and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry.
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
|
31.03.2012 |
31.03.2013 |
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|
(INR in Mlns) |
(INR in Mlns) |
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Sales Turnover (Approximately) |
|
250.000 |
300.000 |
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|
20.000 |
LOCAL AGENCY FURTHER INFORMATION
|
Check
List by Info Agents |
Available
in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
No |
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5) Type of Business |
Yes |
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6) Line of Business |
Yes |
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7) Promoter’s background |
No |
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8) No. of employees |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for last two years |
Yes |
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12) Profitability for last three years |
No |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
No |
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15) Capital in the business |
Yes |
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16) Details of sister concerns |
Yes |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
Yes |
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20) Export / Import details (if
applicable) |
No |
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21) Market information |
-- |
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22) Litigations that the firm / promoter
involved in |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
No |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
Yes |
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28) Incorporation details, if applicable |
No |
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29) Last accounts filed at ROC |
No |
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30) Major Shareholders, if available |
No |
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31)
Date of Birth of Proprietor/Partner/Director, if available |
No |
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32)
PAN of Proprietor/Partner/Director, if available |
No |
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33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
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34)
External Agency Rating, if available |
No |
PROFILE:
Subject was incorporated in 1973 by Shri S.R. Jiwarajka and Shri
R.P. Khaitan, having vast experience in Electronics with group turnover
exceeding 10000.000 millions with the purpose of providing portable energy to
million of consumers in rural and urban India. In North Zone subject is three
decades old Marketing and Distribution house engaged in promoting business of
"Nippo" range of products, being variety of "AAA', 'AA', 'C' and
'D' size Batteries/Torches manufactured under licence of Matsushita Electric
Industries, Japan. Subject besides establishing Nippo range of products is also
involved in Marketing of Emergency Lights, Brass Torches, to improve quality of
life of numerous consumers in both urban and rural areas. To further augment
its Mission, now Subject is expanding to include Men's grooming products in its
portfolio. Men grooming range is fastest growing market worldwide with growth
rate of above 20% per annum. Newly inducted in portfolio are, "Glide"
range of Razors product of American Safety Razor Co. Having No.3 position
worldwide, while providing know-how to 64 countries. Now with its strong
infrastructure, Global quality products and services subject is committed to
enhance quality of life of million of consumers in rural as well urban India.
The other sister concerns in the East "Radiohms Agencies" and in the
West "Associated Electrical Agencies" are similarly devoted to
rendering services to consumer benefits. Nippo is the household name for
batteries in India, manufactured by Indo National Limited in India in the
state-of-the -art factories situated at Nellore and Tada in Andhra Pradesh
under technical and financial collaboration with Matsushita Electric Industries
Co., Japan. For close to 3 decades the range of products has found its way
across the country into Transistors, Personnel Stereos, Torch Lights, Remote
Controls, Wall Clocks, Toys and more. Touching the lives of several million
across economic segments from big cities to the tiniest villages. A name that
has stood for quality, consistency, safety, value for money, leadership,
responsibility and of course performance that is second to none.
Products:
Manufacturer and Exporter of Shaving Products: Women's
Razors, Men's Razors. Batteries: Nippo Batteries, Dry Cell Batteries, AA
Batteries Emergency Lights: Emergency Light DS 8166, Emergency Light DL 828.
Torches: Nippo Torches, Brass Torches, Salora Torches, Plastic Torches. Infant
Range: Baby Feeding / Teething Products, Baby Feeding Spoons / Forks, Baby
Teething Toys.
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 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.60.70 |
|
|
1 |
Rs.100.11 |
|
Euro |
1 |
Rs.83.81 |
INFORMATION DETAILS
|
Report Prepared
by : |
SMN |
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 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
47 |
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.