MIRA
INFORM REPORT
|
Report Date : |
9th
June, 2006 |
IDENTIFICATION
DETAILS
|
Name : |
ADVANCE
VENTILATION PRIVATE LIMITED |
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Registered Office : |
Q-26, Model Town - I, Delhi - 110 009 |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
21.05.1981 |
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Com. Reg. No.: |
55-11757 |
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CIN No.: [Company
Identification No.] |
U74899DL1981PTC011757 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELA01474E |
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PAN No.: [Permanent
Account No.] |
AAACA2149R |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Manufacturer
of Plant and Equipment, Fabrication and other Accessories for Air Pollution,
P and V Systems etc. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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Maximum Credit Limit : |
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Status : |
Moderate
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Payment Behaviour : |
Slow
by average 30 days |
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Litigation : |
Clear |
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Comments : |
Subject
is an established company having moderate track. The company’s profit margin
is very low. Payments are reported as slow by average 30 days. Trade
relations are fair. The company’s business is growing. It can
be considered normal for business dealings at usual trades terms and
conditions. It can
be regarded normal for a long – term association. |
LOCATIONS
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Registered Office : |
Q-26, Model Town - I, Delhi - 110 009 |
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Tel. No.: |
91-11-27114022/27658707/27415909 |
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E-Mail : |
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Website : |
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Delhi Office |
610; P.P.Towers, Netaji Subhash Place,
Pitampura, Delhi–110 034 |
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Tel.
No.: |
91-11-27355795
/ 96 |
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Fascimile |
91-11-27355796 |
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Factory
1 : |
101, 516 HSIDC Industrial Estate, Kundli -
131 028 (Adjoining DELHI's North Border) District - Sonepat (Haryana) |
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Tel.
No.: |
91-130-2219092-96
(from NCR try with 95130) |
DIRECTORS
|
Name : |
Mr.
Chaudhary K S |
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Designation : |
Director
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Address : |
Q-26, Model Town - I, Delhi - 110 009 |
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Date of Birth/Age : |
03.01.1954 |
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Date of Appointment : |
14.12.1996 |
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Name : |
Mr. A
K Chaudhary |
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Designation : |
Director
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Address : |
Q-26, Model Town - I, Delhi - 110 009 |
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Date of Birth/Age : |
06.04.1959 |
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Date of Appointment : |
21.05.1981
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MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
|
Mr. A
K Chaudhary |
59460 |
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Ms.
Shushma Chaudhary |
45550 |
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Mr. S
K Chaudhary |
103240 |
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Ms.
Sangeeta Chaudhary |
51250 |
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Mr.
Agarwal Lila Dhar |
10000 |
|
Mr.
Shashi Chaudhary |
22000 |
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Ms.
Chaudhary Priyanka |
12500 |
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Mr.
Chaudhary Bharat Lal |
13000 |
|
M/s. K
R Fincap Private Limited |
8000 |
|
M/s.
Rahul Finlease Private Limited |
20000 |
|
M/s.
Sekhawati Finance Private Limited |
8000 |
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Mr.
Sushil Kumar |
9900 |
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Mr.
Rajesh Bindal |
11000 |
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Mr.
Murli Dhar |
12600 |
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Mr.
Krishna Kumar |
16500 |
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Mr.
Surender Kumar Chaturevedi |
7000 |
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Mr.
Kanshi Ram Aggarwal |
5000 |
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Mr.
Arun Kumar Aggarwal |
10000 |
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M/s.
Suma Finance & Investment Limited |
50000 |
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Mr.
Raj Kumar |
7000 |
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Mr.
Manoj Kumar |
8000 |
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Mr.
Kishan Kuamr |
10000 |
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Ms.
Lara Rani |
10000 |
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Ms.
Kanta Rani |
10000 |
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Mr.
Prem Chand |
10000 |
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Ms.
Saroj Goyal |
15000 |
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Mr.
Shankar Lal |
5000 |
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Mr.
Raj Bala Goyal |
15000 |
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Mr.
Raj Bala Mittal |
15000 |
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Mr.
Ram Avtar Mitta; |
20000 |
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Ms.
Pushpa Devi |
10000 |
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Mr.
Ranjit Singh |
20000 |
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Mr.
Ram Nathu |
20000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of Plant and Equipment, Fabrication and other Accessories for Air Pollution,
P and V Systems etc. |
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Product |
v Industrial Ventilation &
Process Air Handling Fans (Centrifugal & Axial) v Acid Fume Scrubbers v Industrial Air Circulating (
Mancooler ) Fans v Custom Designed and Built
Special Purpose Fans v Industrial Dryers and Its
Sub-Components, and Equipments. v Industrial / Process Air Conditioning,
and Refrigeration System & Equipments v Pulsejet ( Pleated Filter ) Bag Dust Collectors v Air Pressurization / Dust
Proofing and Ventilation Systems. (with or without evaporative air cooling
section). v Evaporative Air Cooling
Machines ( Using Humi-Pad Fill Pack System) Machines.
v
Environmental
Control Systems. |
GENERAL
INFORMATION
|
Client |
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No. of Employees : |
120 |
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Bankers : |
Punjab
National Bank |
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Facilities : |
Secured
Loan From
Punjab National Bank – Rs. 4.079 Millions |
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Banking Relations : |
Satisfactory
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Auditors : |
Sanjay
K Gupta & Company Chartered
Accountant |
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Address: |
C –
24, C C Colony, Opposite R P Bagh, Delhi – 110007 |
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Tel. No.: |
91-11-27436526
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
750000 |
Equity
Shares |
Rs. 10/- Each |
Rs. 7.500 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
650000 |
Equity
Shares |
Rs. 10/- Each |
Rs. 6.500 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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6.500 |
6.000 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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2.309 |
1.839 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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8.809 |
7.839 |
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LOAN FUNDS |
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1] Secured Loans |
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12.874 |
7.417 |
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2] Unsecured Loans |
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1.960 |
2.379 |
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TOTAL BORROWING |
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14.834 |
9.796 |
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DEFERRED TAX LIABILITIES |
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0.107 |
0.028 |
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TOTAL |
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23.750 |
17.663 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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11.303 |
7.295 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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8.351 |
5.482 |
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Sundry Debtors |
|
2.955 |
2.113 |
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Cash & Bank Balances |
|
12.424 |
8.524 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
|
3.063 |
0.583 |
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Total Current Assets |
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26.793 |
16.702 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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14.214 |
6.309 |
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Provisions |
|
0.192 |
0.131 |
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Total Current Liabilities |
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14.406 |
6.440 |
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Net Current Assets |
|
12.387 |
10.262 |
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MISCELLANEOUS EXPENSES |
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0.060 |
0.106 |
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TOTAL |
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23.750 |
17.663 |
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PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
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Sales Turnover [including other income] |
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63.286 |
38.281 |
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Profit/(Loss)
Before Tax |
|
0.741 |
0.405 |
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Provision
for Taxation |
|
0.271 |
0.145 |
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Profit/(Loss)
After Tax |
|
0.470 |
0.260 |
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Export
Value |
|
5.170 |
NA |
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Import
Value |
|
0.381 |
NA |
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Total
Expenditure |
|
62.543 |
37.875 |
KEY
RATIOS
|
PARTICULARS |
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|
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
|
0.74 |
0.67 |
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Net
Profit Margin (PBT/Sales) |
(%) |
|
1.17 |
1.05 |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
1.94 |
1.68 |
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Return
on Investment (ROI) (PBT/Networth) |
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0.08 |
0.05 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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3.31 |
2.07 |
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Current
Ratio (Current
Asset/Current Liability) |
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1.85 |
2.59 |
LOCAL AGENCY
FURTHER INFORMATION
Fixed
Assets
v
Building
v
Furniture
& Fixture
v
Plant
& Machinery
v
Vehicles
v
Office
Equipment
As
per Website Details:
About Us
Advance
Ventilation (P) Limited, is a complete HVAC (Humidification, Ventilation, and
Air conditioning) company. They have come a long way with a substantial growth
ever since its inception in the year 1981. It is a group of highly dedicated
customer oriented, and committed people, who are eveready for providing
solution systems in the field of Industrial ventilation, air handling, air
pollution control and Air conditioning & Refrigeration.
It is a
specialist company in this field of application engineering and its working
strategy is from concept to commissioning. Enroute its journey of 22 years,
while it has accomplished many Industrial air handling and ventilation projects
for various medium and large scale manufacturing units / process plants; it has
also resolved many of their problems successfully. Advance Ventilation Pvt.
Limited have designed, and manufactured many indoor environmental control
system and have given engineering solution systems for most typical problems..
Advance
Ventilation (P) Limited work through the first principles of science and
engineering; and therefore every resulting design and selection of
environmental control system is virtually a complete one and a success system.
Industrial
air handling fans / blowers are their in-house designed and manufactured
products. These equipments are the heart of the ventilation and air handling
systems and therefore are sized and selected with utmost care. They custom
design and manufacture the air handling fans of all types such as; CENTRIFUGAL,
AXIAL FLOW, CENTRIFUGAL-AXIAL (combine); in single stage and 2-stage design,
and in various other configuration also.
The
rotary assemblies of these fan / blowers are both statically and dynamically
balanced for smooth operation in its application. This job of dynamic balancing
is done in house on the State of the Art DYNAMIC BALANCING machine (SCHENCK
AVERY make) which is a microprocessor based equipment.
Ours
is an ISO 9001 : 2000 certified unit, and thereby is committed "To
establish customer satisfaction through team work by producing quality
Humidification; Industrial Ventilation; Air conditioning and Air pollution
control equipment / systems, meeting the customer requirement and with a
commitment of continual improvement" .
Product
Apart from the above, they are a
systems house / franchisee of India's # 1 Air conditioning and Refrigeration
products / systems company , Bluestar Limited; and thereby will be providing
you with a complete range of Industrial Air conditioning & Refrigerating
machines / systems.
So, they are a complete HVAC company, and ONE STOP
SHOPPE for all the needs.
Facilities
Manufacturing Facilities
- MIG WELDING machine; 300
amps
- TIG WELDING machine 250 amps.
- L & T surface Hardening kit.
- Hydraulic press brake-40 tons capacity
2 mm x 2500 mm wide, NUGEN make.
- Hydraulic shear machine 40 tons, L-325,
3.15 mm x 2500 mm wide, NUGEN make.
- Shot Blasting Machine 'MEC' make.
- Shop mounted DYNAMIC BALANCING machine
of ‘SCHENCK AVERY’ make. Capacity : 1500 kgs rotating mass 2000 mm
diameter.
- Air Plasma Steel/metal cutting machine.
- DG set, Kirloskar, 40 KVA. • DG set, 5
KVA, and 10 KVA.
- Portable power drill and torque spanner
for application of tek screws.
- Electrical Power hand tools : ˝ inch
dia hole drill machine. 3/8 inch dia hole drill machine.
- Hammer drill Portable power ‘BOSCH’.•
3-Roll sheet bending machine. • Hand Press C. type (2500 mm wide).
- Sheet pressing/folding (manual)
machine.
- Portable (power) Drilling machine
(pillar type), for & upto 1.5 inch diameter hole drilling. Drilling
machines, for & upto ˝ inch, 3/8 inch, & 1 diameter hole
drillings.
- Air Compressor ELGI make with 5 HP
motor.
Testing
Facilities
- Test-bed for performance
testing of Centrifugal air fans.
- Meggar (electrical ; IRV for
testing).
- Tong-tester (for current
measurement).
- Multimeter (for amperage,
voltage).
- Vane-anemometers for
measurement of air flow rates
Lawrance & Mayo : 1 no.
Imported : 1 no. - Barometer (mercury in glass).
- Vibration analyzer ‘ABRO’ make,
complete with stroboscope, and its computation calculator.
- Techo-meter (for rotational speed
measurement).
- Manometers.
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 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.45.92 |
|
UK
Pound |
1 |
Rs.84.62 |
|
Euro |
1 |
Rs.58.03 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--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 |
|
TOTAL |
|
40 |
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |