MIRA INFORM REPORT
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Report Date : |
12th May, 2006 |
IDENTIFICATION DETAILS
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Name : |
MARUTI
ENGINEERS |
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Registered Office : |
Umakant
Pandit Udyog Nagar, Behind Gadhia Estate, Rajkot-360004, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1973 |
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Legal Form : |
A
Partnership Concern with limited liability of the partners |
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Line of Business : |
Manufacturer
& Exporter of IC Engine Valves. Intel/Exhaust Engine Valves |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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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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Maximum Credit Limit : |
USD 100000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established and reputed concern having satisfactory track. Partners
are reported as experienced and respectable businessmen. Their trade
relations are reported as fair. Business is active. Payments are reported as
usually correct and as per commitments. The concern can be considered normal
for business dealings for normal trade terms and conditions |
LOCATIONS
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Registered Office/
Factory/ Godown/ Admn. Office : |
Umakant
Pandit Udyog Nagar, Behind Gadhia Estate, Rajkot-360004, Gujarat |
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Tel. No.: |
91-281-2388921 |
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Fax No.: |
91-281-2363623 |
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Area : |
500
Sq. mtrs |
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Location : |
Owned |
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PARTNERS
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Name : |
Mr.
Babubhai Jivrajbhai Patel |
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Designation : |
Partner |
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Name : |
Mr.
Jayesh Patel |
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Designation : |
Partner |
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Name : |
Mr.
Mahesh Rupabhai Zanjrukiya |
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Designation : |
Partner |
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KEY EXECUTIVES
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Name : |
Mr.
Jayesh Patel |
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Designation : |
Chief
Executive Officer |
BUSINESS DETAILS
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Line of Business : |
Manufacturer
& Exporter of IC Engine Valves. Intel/Exhaust Engine Valves |
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Products : |
PRODUCT
RANGE : - Diameter : 5mm-35mm. - Length : 24mm-300mm. MATERIAL : - Mild Steel, Alloy Steel, Stainless
Steel, Brass, Copper as per specification etc. |
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Exports to : |
U.S.A.,
U.K. & Middle East |
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Imports of: |
Metal
Scrape |
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Imports from : |
Europe,
U.S.A. & Middle East |
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Terms : |
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Selling : |
L/C,
DP, Cash & Credit upto 60 days |
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Purchasing : |
L/C,
DP, DA-60 days & Bank through |
PRODUCTION STATUS
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Particulars |
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Installed Capacity |
Actual Production |
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NA |
As per orders |
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GENERAL INFORMATION
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Suppliers: |
M/s.
British Steel Limited, U.K. |
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Customers : |
Local
Traders & Export Market |
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No. of Employees : |
Office
5, Factory 80. Total 85 |
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Bankers : |
State
Bank of Saurashtra Main
Branch, Rajkot-360001 |
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Credit Limits : |
Rs.
5.000 millions |
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Banking Relations : |
Satisfactory |
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Auditors : |
NA |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.
25.000 millions |
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Borrowed : |
-- |
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Total : |
Rs.
25.000 millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
100.000 |
85.000 |
70.000 |
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Gross Profit for the year |
15.000 |
11.750 |
10.500 |
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Net Profit for the year |
8.000 |
8.500 |
7.000 |
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Export Value |
Rs. 70.000 millions approx |
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- |
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Import Value |
Rs. 50.000 millions |
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Subject
expects to achieve a turnover of Rs. 125.000 millions for the coming year
Average
Stock maintained: Rs. 10.000 millions
LOCAL AGENCY FURTHER INFORMATION
COMPANY
PROFILE
Manufacturers
& Exporters of : Hex head bolts Double hex head bolts and nuts Hex flange
bolts and flange nuts Socket cap bolts and Socket set screws Hot forged bolts
as per your sample and specification etc.
PRODUCT
RANGE : - Diameter : 5mm-35mm. - Length : 24mm-300mm.
MATERIAL
: - Mild Steel, Alloy Steel, Stainless Steel, Brass, Copper as per
specification etc.
Subject is manufacturers& exporters of IC engine valves since 1973 in india. We are supplying precision quality engine valves to many leading Indian exporters for U. S., U. K. Middle east etc. Market for long time
Subject
is also manufacturers& exporters of
Hex head bolts Double hex head bolts and nuts Hex flange bolts and flange nuts
Sockets cap bolts and Sockets set screws, Hot forged bolts as per Customers’s
sample and specifications
Subject
is also manufacturers& exporters of
all types of Jewellery Making and Watch case, Natural diamond tools, Knives,
Blades and Cutter, Diamond, Machinery, Jewellery etc.
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Company: |
Maruti
Engineers |
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Umakant
Pandit Udyognagar, Behind Gadhia Estate, |
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RAJKOT |
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India |
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360
004 |
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91-0281-388921 |
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91-0281-363623 |
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Jayesh
Patel |
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Marketing |
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Manufacturer |
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50
- 100 |
Inlet/Exhaust Engine Valves
Specifications: Manufacturers of precision engine valves made with Single
Metal, Bi-Metal(2pc.Construction) in size range of 6mm~20mm Diameters and
weight range of 8g
Company Profile
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Products/Services
We Offer: |
Engine
valves |
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Business
Type: |
Manufacturer |
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Industry
Focus: |
Engine
Parts & Mounts , |
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Geographic
Markets: |
North
America |
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No.
of Employees: |
51
- 100 People |
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Annual
Sales Range (USD): |
US$1
Million - US$2.5 Million |
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Certificates: |
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Year
Established: |
0 |
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Legal
Representative/CEO: |
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Contact
Information
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Company
Name: |
Maruti
Engineers |
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Contact
Person: |
Mr
Jayesh Patel |
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Address: |
Umakant
Pandit Udyognagar, Behind Gadhia Estate,, RAJKOT, Gujarat, India |
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Zip: |
360
004 |
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Telephone: |
91
281 2388921 |
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Fax: |
91
281 2363623 |
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
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Indian Rupees |
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US
Dollar |
1 |
Rs.45.30 |
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UK
Pound |
1 |
Rs.78.45 |
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Euro |
1 |
Rs.54.88 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
5 |
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--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 |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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50 |
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
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STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely
sound financial base with the strongest capability for timely payment of
interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is
considered normal. Capable to meet normal commitments. |
Satisfactory |
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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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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 |
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<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit not recommended |