MIRA
INFORM REPORT
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Report No. : |
348613 |
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Report Date : |
04.11.2015 |
IDENTIFICATION DETAILS
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Name : |
SHRI HARI FORGING PRODUCTS |
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Registered
Office : |
Plot No. B-30, Metal Colony, Ambabari,
Jaipur – 302810, Rajasthan |
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Tel. No.: |
91-141-2335903 |
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Country : |
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Financials (as
on) : |
31.03.2015 |
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Year of
Establishment: |
2005 |
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Capital
Investment / Paid-up Capital : |
Not Divulged |
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TIN No.: |
Not Available |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Sole Proprietary Concern |
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Line of Business
: |
Manufacturer of Structural items for power transmission,
telecommunication line and distribution line. |
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No. of Employees
: |
30 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (44) |
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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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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established proprietary concern started in the year 2005
having satisfactory track. The firm promoted by Mr. Shrikant Sharma, is based
in Jaipur (Rajasthan). Subject is engaged in the business as manufacturer of structural items
for power transmission, telecommunication line and distribution line. The concern is progressing well. Turnover achieved by the concern is
decent. Moreover, this rating strength is partially offset by concern’s
exposure to intense competition in the highly fragmented transmission and
distribution products industry. Their trade relations are reported as fair. Business is active.
Payments are reported as slow but correct. The concern can be considered normal for business dealings at usual trade
terms and condition. |
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 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
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 |
EXTERNAL AGENCY RATING
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Rating Agency Name |
CRISIL |
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Rating |
Long Term Rating=B+ |
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Rating Explanation |
High risk of default. |
|
Date |
20.07.2015 |
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Rating Agency Name |
CRISIL |
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Rating |
Short Term Rating=A4 |
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Rating Explanation |
Minimal degree of safety and carry high credit risk. |
|
Date |
20.07.2015 |
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
31-03-2015.
INFORMATION PARTED BY
|
Name : |
Mr. Rajeev Badaya |
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Designation : |
Accounts and Admin Manager |
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Contact No.: |
91-9829030742 |
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Date : |
03.11.2015 |
LOCATIONS
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Registered Office : |
Plot No. B-30, Metal Colony, Ambabari,
Jaipur – 302810, Rajasthan, India |
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Tel. No.: |
91-141-2335903 |
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Mobile No.: |
91-9829030742 (Mr. Rajeev Badaya) |
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Fax No.: |
91-141-2335903 |
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E-Mail : |
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Website: |
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Area : |
2000 sq. ft. |
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Location: |
Owned |
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Locality: |
Commercial |
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Corporate Office : |
North Avenue, ARG Building, III Floor, Office No 308, VKIA
Road No 9A, Sikar Road, Jaipur – 302013, Rajasthan, India |
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Tel. No.: |
91- 141-4038171 , 2333585 |
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E-Mail : |
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Factory : |
3052/01, Kaladera Industrial Area, Kaladera, Chomu, Jaipur
– 303801, Rajasthan,
India |
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Tel. No.: |
91- 141-3292111 |
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Area : |
4000 sq. ft. |
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Location: |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Shrikant Sharma |
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Designation : |
Proprietor |
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Date of Birth/Age : |
33 Years |
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Qualification : |
MBA |
KEY EXECUTIVES
|
Name : |
Mr. Rajeev Badaya |
|
Designation : |
Accounts and Admin Manager |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Structural items for power transmission,
telecommunication line and distribution line. |
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Products : |
·
Transformers Structures ·
Top Brackets ·
Guarding Cross Arms |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
L/C |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users
· Ashoka Buildcon Limited, Nashik · Aster Teleservices Private Limited · AVP Infra Limited., Delhi · Bajaj Electricals, Mumbai · Balaji Industrial Products, Jaipur · D.B. Shapriya Construction Limited, Mumbai · EMCO Limited · Diamond Power Infrastructure (South Africa), Gujarat · Fedders Lloyd Corporation Limited, Delhi · Funity Technologies · Genus Power Infrastructures Limited., Jaipur |
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No. of Employees : |
30 (Approximately) |
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Bankers : |
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Auditors : |
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Name : |
Rajeev Badaya and Company Chartered Accountants |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Group Companies: |
·
Shri Hari Forgin Private Limited ·
Shri Hari Engineers and Structurals |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Divulged |
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Borrowed : |
Not Divulged |
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Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
in Rupees Million]
|
Particulars |
|
31.03.2015 |
31.03.2014 |
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Sales Turnover (Approximately) |
|
300.000 |
260.000 |
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Expected Sales ( 2015 - 2016 ) : Rs.1000.000 Million (Due to more orders
received from client)
The above information has been parted by Mr. Rajeev Badaya (Accountant
and Admin 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 Million]
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2014 |
31.03.2015 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales (Approximately) |
260.000 |
300.000 |
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|
|
15.385 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
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2 |
Constitution of the entity -Incorporation details |
Yes |
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3 |
Locality of the entity |
Yes |
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4 |
Premises details |
Yes |
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5 |
Buyer visit details |
-- |
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6 |
Contact numbers |
Yes |
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7 |
Name of the person contacted |
Yes |
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8 |
Designation of contact person |
Yes |
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9 |
Promoter’s background |
Yes |
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10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
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11 |
Pan Card No. of Proprietor / Partners |
No |
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12 |
Voter Id Card No. of Proprietor / Partners |
No |
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13 |
Type of business |
Yes |
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14 |
Line of Business |
Yes |
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15 |
Export/import details (if applicable) |
No |
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16 |
No. of employees |
Yes |
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17 |
Details of sister concerns |
Yes |
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18 |
Major suppliers |
Yes |
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19 |
Major customers |
Yes |
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20 |
Banking Details |
Yes |
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21 |
Banking facility details |
Yes |
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22 |
Conduct of the banking account |
Yes |
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23 |
Financials, if provided |
Yes |
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24 |
Capital in the business |
No |
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25 |
Last accounts filed at ROC, if applicable |
No |
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26 |
Turnover of firm for last two years |
Yes |
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27 |
Reasons for variation <> 20% |
Yes |
|
28 |
Estimation for coming financial year |
Yes |
|
29 |
Profitability for last three years |
No |
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30 |
Major shareholders, if available |
No |
|
31 |
External Agency Rating, if available |
Yes |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
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.65.45 |
|
|
1 |
Rs.100.96 |
|
Euro |
1 |
Rs.72.10 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
SUD |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
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|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILITY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
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--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
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--RBI |
YES/NO |
NO |
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--EPF |
YES/NO |
NO |
|
TOTAL |
|
44 |
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.