MIRA INFORM REPORT

 

 

Report No. :

348605

Report Date :

06.11.2015

 

IDENTIFICATION DETAILS

 

Name :

VICTOR AGENCIES

 

 

Registered Office :

N-37, Greater Kailash, Part One, New Delhi – 110048

Tel. No.:

91-11-29235180/ 29232907

 

 

Country :

India

 

 

Financials (as on) :

31.03.2015

 

 

Year of Establishment :

1998

 

 

Capital Investment :

Rs. 50.000 Million

 

 

IEC No.:

0599003219

 

 

TIN No.:

Not Available

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

Not Available

 

 

PAN No.:

[Permanent Account No.]

AATPK58336

 

 

Legal Form :

Sole Proprietary Concern

 

 

Line of Business :

Trader, Distributor and Importer of Speciality Chemicals Products.

 

 

No. of Employees :

50 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (47)

 

RATING

STATUS

 

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

 

Maximum Credit Limit :

USD 142800

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a proprietary concern established in the year 1998. It is the distributor and importer of speciality chemical products.

 

Mr. Jai Sharma (Business Manager) claimed that the concern has achieved sales turnover of Rs. 850 million for the year 2015 and the same has decreased from Rs. 1000 million for the year 2014, due to market fluctuation.

 

However, the concern has good and reputed customer and supplier base.

 

Trade relations are reported as fair. Business is active. Payment terms are usually correct.

 

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 – March 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

NOT AVAILABLE

 

 

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. Jai Sharma

Designation :

Business Manager

Contact No.:

91-9811871463

Date :

04.11.2015

 

 

LOCATIONS

 

Registered Office :

N-37, Greater Kailash, Part One, New Delhi – 110048, India

Tel. No.:

91-11-29235180/ 29232907

Mobile No.:

91-9811871463 (Mr. Jai Sharma)

Fax No.:

91-11-29235180

E-Mail :

info@victoragencies.com

Website :

http://www.victoragencies.com

 

 

Corporate Office :

Advant Navis Business Park, Suite 1106, 11th Floor, Plot 7, Sector -142, Expressway, Noida (Delhi NCR) – 201301, Uttar Pradesh, India

Tel. No.:

91-120-4193943 / 949

Fax No.:

91-120-4193950

 

 

Branch Office 1 :

Plot No. 59, 15/7, Mile Stone Badkal Chowk, Mathura Road, Faridabad-121002, Haryana, India

 

 

Branch Office 2 :

Suit No. 206, 2nd Floor, Hubtown VIVA, Western Highway, Jogeshwari (East), Mumbai-400060, Maharashtra, India

Tel. No.:

91-22-28387039

Fax No.:

91-22-67080666

 

 

SOLE PROPRIETOR

 

Name :

Mr. Vinod Karwa

Designation :

Proprietor

Date of Birth/Age :

60 Years

Qualification :

Graduate

 

 

KEY EXECUTIVES

 

Name :

Mr. Jai Sharma

Designation :

Business Manager

 

 

BUSINESS DETAILS

 

Line of Business :

Trader, Distributor and Importer of Speciality Chemicals Products.

 

 

Brand Names :

--

 

 

Agencies Held :

--

 

 

Exports :

 

Products :

Speciality Chemicals

Countries :

·         UAE

USA

France

 

 

Imports :

 

Products :

Chemicals

Countries :

·         USA

China

France

New Zealand

 

 

Terms :

 

Selling :

Cash, L/C and Credit (30 days, 60 days and 90 days)

 

 

Purchasing :

Cash, L/C and Credit (30 days, 60 days and 90 days)

 

 

GENERAL INFORMATION

 

Suppliers :

Company Name:

DSM Coating Resins

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

·         Trust Chem Company Limited, China

 

 

Customers :

End Users and OEMs

 

Company Name:

Asian Paints Limited

Name of the Person (Designation):

Not Divulged

Contact Number:

Not Divulged

Since how long known:

Not Divulged

Maximum limit dealt:

Not Divulged

Experience:

Not Divulged

Remark

Not Divulged

 

·         Hexion, USA

 

 

No. of Employees :

50 (Approximately)

 

 

Bankers :

Bank Name:

Central Bank of India

Branch:

Janpath, New Delhi, India

Person Name (with Designation):

Not Divulged

Contact Number:

91-11-22612008 (Number Ringing)

Name of Account Holder:

Not Divulged

Account Number:

Not Divulged

Account Since (Date/ Year of A/c Opening):

Not Divulged

Average Balance Maintained (Optional):

Not Divulged

Credit Facilities Enjoyed (CC/OD/Term Loan):

Not Divulged

Account Operation:

Not Divulged

Remarks: Not Divulged

 

 

Facilities :

--

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Chordiya and Company

Chartered Accountants

Address :

Delhi, India

 

 

Memberships :

--

 

 

Collaborators :

--

 

 

Associates/Subsidiaries :

·         Victor Colour Coatings Private Limited

Line of Business: Manufacturing of Industrial and Speciality Paints

 

·         Sanauto Engineers (India) Private Limited

Line of Business: Manufacturing of Auto Electrical Components and Engineering Components

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2015

 

Capital Investment :

 

Owned :

Rs. 50.000 Million

Borrowed :

--

Total :

Rs. 50.000 Million

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

 

PARTICULARS

 

31.03.2015

31.03.2014

31.03.2013

Sales Turnover (Approximately)

850.000

1000.000

950.000

 

(Due to Market down)

 

 

 

The above information has been parted by Mr. Jai Sharma (Business 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

31.03.2013

31.03.2014

31.03.2015

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Sales Turnover (Approximately)

950.000

1000.000

850.000

 

 

5.263

(15.000)

 

 

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

No

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

Yes

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

Yes

19

Major customers

Yes

20

Banking Details

Yes

21

Banking facility details

No

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last three years

Yes

27

Reasons for variation <> 20%

Yes

28

Estimation for coming financial year

No

29

Profitability for last three years

No

30

Major shareholders, if available

No

31

External Agency Rating, if available

No

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, India Prisons Service, Interpol, etc.

 

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. 65.68

UK Pound

1

 Rs. 101.02

Euro

1

Rs.  71.35

 

 

INFORMATION DETAILS

 

Information Gathered by :

PPT

 

 

Analysis Done by :

AMR

 

 

Report Prepared by :

IND

 

 

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

--PROFITABILITY

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

YES

--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

 

--

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.