MIRA INFORM REPORT

 

 

Report No. :

500618

Report Date :

30.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

ROYAL CANADIAN STEEL INC

 

 

Registered Office :

70 Titan Rd, Brampton, L6T 4A3

 

 

Country :

Canada

 

 

Financials (as on) :

2016

 

 

Date of Incorporation :

1990

 

 

Legal Form :

Corporation

 

 

Line of Business :

Subject is engaged in business includes the marketing of semifinished metal products.

 

 

No. of Employees :

35

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

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

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Canada

A11

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

CANADA - ECONOMIC OVERVIEW

 

Canada resembles the US in its market-oriented economic system, pattern of production, and high living standards. Since World War II, the impressive growth of the manufacturing, mining, and service sectors has transformed the nation from a largely rural economy into one primarily industrial and urban. Canada has a large oil and natural gas sector with the majority of crude oil production derived from oil sands in the western provinces, especially Alberta. Canada now ranks third in the world in proved oil reserves behind Venezuela and Saudi Arabia and is the world’s sixth-largest oil producer.

The 1989 Canada-US Free Trade Agreement and the 1994 North American Free Trade Agreement (which includes Mexico) dramatically increased trade and economic integration between the US and Canada. Canada and the US enjoy the world’s most comprehensive and highly balanced bilateral trade and investment relationship, with merchandise trade of $544 billion in 2016, services trade of over $80 billion, and two-way investment stocks of nearly $700 billion. Over three-fourths of Canada’s exports are destined for the US each year. Canada is the largest foreign supplier of energy to the US, including oil, natural gas, and electric power, and a top source of US uranium imports.

Given its abundant natural resources, highly skilled labor force, and modern capital stock, Canada enjoyed solid economic growth from 1993 through 2007. The global economic crisis of 2007-08 moved the Canadian economy into sharp recession by late 2008, and Ottawa posted its first fiscal deficit in 2009 after 12 years of surplus. Canada's major banks emerged from the financial crisis of 2008-09 among the strongest in the world, owing to the financial sector's tradition of conservative lending practices and strong capitalization. Since the fall in world oil prices in 2014, Canada has achieved modest economic growth.

 

Source : CIA

 

 

STATUTORY INFORMATION

 

Legal Name:

ROYAL CANADIAN STEEL INC

Trade Name:

ROYAL CANADIAN STEEL INC

ID:

NA

Date Created:

1990

Date Incorporated:

1990

Legal Address:

70 Titan Rd

Brampton, L6T 4A3

Canada

Operative Address:

70 Titan Rd

Brampton, L6T 4A3

Canada

Telephone:

(905) 454-7274

Fax:

(905) 454-7274

Legal Form:

CORPORATION

Email:

-

Registered in:

CANADA

Website:

www.steelspider.com

Contact:

Feroz Ali Jessani - President & Board Member

Staff:

35

Activity:

NAICS 1: Metal Service Centers and Other Metal Merchant Wholesalers

SIC 1: Steel

Banks:

The company does not disclose its banking details.

 

History:

The company was founded in 1990.

 

PRINCIPAL ACTIVITY

 

 

The Company's line of business includes the marketing of semifinished metal products.

Products/Services description:

The company offers Secondary and Excess Prime Steel: Stainless Steel, Cold Rolled Steel, Galvanized Steel and other types of steel products.

Brands:

ROYAL CANADIAN STEEL

Sales are:

Wholesale

Clients:

Metal Cans And Closures Private Limited

Dong Hung Steel Company Limited

Suppliers:

NA

Operations area:

National and International

The company exports to

INDIA

VIETNAM

The subject employs

35 employees

Payments:

Regular

 

 

LOCATION

 

Headquarters :

70 Titan Rd

Brampton, L6T 4A3

Canada

Comments on Address:

-

Branches:

No other branches were found.

Related Companies:

The company´s website says that it has offices in China, Pakistan and India. However, no addresses are mentioned.

 

 

 

 

GROUP STRUCTURE AND SUBSIDIARY COMPANIES

 

Listed at the stock exchange:

NO

Capital:

NA

Shareholders:

The company does not disclose information on shareholders. We were not able to confirm major holders.

Management:

Feroz Ali Jessani - President & Board Member

Anwar Jessani - Board Member

Karim Jessani

 

 

 

FINANCIAL INFORMATION

 

 

The company does not make its financial statements public. The following information has been provided by private sources:

 

 

USD 2016

 

Gross Sales

26.500.000

Cash flow

Normal

 

 

LEGAL FILINGS

 

 

 

CASES

No records found.

 

 

OFAC

Sanctions List Search

The company is not listed in the OFAC list.

 

 

 

 

SUMMARY

 

 

Founded in 1990, Royal Canadian Steel Inc is a mid-sized organization in the metals service centers industry located in Brampton, Canada.

 

It has approximately 35 full-time employees and generates an estimated $26.5 million in annual revenue.

 

The company operates nationally and internationally, mainly exporting to India and Vietnam.

 

It is ACTIVE in business with no negative records.

 

 

RISK INFORMATION

 

 

 

DEBTS

Controlled

PAYMENTS

Regular

CASH FLOW

Normal

STATUS

Active

 

 

INTERVIEW

 

NAME

Theresa

POSITION

Purchasing

COMMENTS

She confirmed the name of the company, the address of the headquarters and location and the date of creation of the company. She was reluctant to provide further information.

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

INR 65.04

UK Pound

1

INR 92.28

Euro

1

INR 80.62

CAD

1

INR 50.47

 

Note : Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

KET

                                                


 

RATING EXPLANATIONS

 

Credit Rating

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

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 are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

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.