MIRA
INFORM REPORT
|
Report Date : |
28.10.2006 |
IDENTIFICATION
DETAILS
|
Name : |
SAIFI
INDUSTRIES |
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|
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Registered Office : |
E –
13, Site – C [U.P.S.I.D.C.] Industries Area, Surajpur, Greater noida, Uttar
Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
2003 |
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Legal Form : |
Sole
Proprietory Concern |
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Line of Business : |
Manufacturers
of Tool Room Equipments |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
|
Maximum Credit Limit : |
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Status : |
Moderate
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Payment Behaviour : |
Slow
but correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a small concern in it’s business. Trade relations are fair. Payments are
reported as slow but correct. The
concern can be considered for small to mediocre business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
E –
13, Site – C [U.P.S.I.D.C.] Industries Area, Surajpur, Greater noida, Uttar
Pradesh, India |
|
Tel. No.: |
91-120-2560213 |
|
Mobile No.: |
91-9810524290 |
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Fax No.: |
91-120-2560213 |
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Area : |
2500
sq. ft. |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr.
Mohammad Ashfaq |
|
Designation : |
Proprietor
|
|
Address : |
Noida |
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Date of Birth/Age : |
26
Years |
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Qualification : |
MBA |
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Experience : |
7
Years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers
of Tool Room Equipments |
|
|
|
|
Products : |
Ø
CD Manufacturing Machine Equipments Ø
Jack Assemblies Ø
Intermediate Frames for Engine Testing Ø
Cement Ø
Sugar Ø
Paper Mills Ø
Fertilizer Ø Textile
Plants Pressure Vessels |
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|
|
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Terms : |
|
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Selling : |
L/C,
Cash or Credit [30 days] |
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|
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Purchasing : |
Cash,
Credit or at Sight |
GENERAL
INFORMATION
|
Customers : |
Manufacture,
Wholesalers, Retailers and End users Ø Moser Baer Ø AVL India
Private Limited Ø BS
Technologies Ø
Flex Engineering Limited |
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|
|
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No. of Employees : |
26 |
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|
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Bankers : |
Punjab
National Bank Bhikaji
Cama Place, New Delhi |
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Banking Relations : |
Unknown
|
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|
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Auditors : |
Arun
Ahuja and Company New
Delhi |
CAPITAL STRUCTURE
|
Capital
Investment : |
|
|
Owned : |
Rs.
1.500 Millions |
|
Borrowed : |
-- |
|
Total : |
Rs.
1.500 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
|
Particulars |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales Turnover |
8.000 |
7.400 |
7.000 |
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|
|
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Profit/Loss for the year |
0.200 |
0.175 |
0.150 |
Projected
Turnover for Current Year [2006-07] Rs. 10.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Trade
Reference
Ø
Roto
Pumps Limited, Ghaziabad
Ø
Escorts
Limited
Saifi
Industries is a manufacturer, exporter and importer of CD Manufacturing Machine Equipments, Jack
Assemblies, Intermediate Frames for Engine Testing, Cement, Sugar, Paper Mills,
Fertilizers, and Textile Plants Pressure Vessels. Established
in the year 2003, they have grown at a very steady rate to create a place for
their selves in the market.
The
market dynamics have immensely changed over the years and has become very
quality driven. The clients these days are well informed about the products
they want to purchase and usually go for a market research before buying them.
There are a lot of manufacturers delivering the same product range, which makes
the competition in the market very intensive. In such a scenario, they have
been among the key players in the market by offering high quality products at
competitive prices.
Their
products are exported all over the world. They plan to expand their markets in
the international sector and have a wider global presence at the same time also
concentrating on the domestic markets.
Quality
Assurance
All
their products are produced under strict international quality assurance
methods. They use high quality raw materials in the production process acquired
from reliable sources. All their products pass through stringent quality
methods conducted by their in-house specialists. Even the slightest of the
defective products do not find a way in the market.
Infrastructure
They have a very sound infrastructure which is as per the international
standards. They employ competent and dedicated employees and conduct their
operations with honesty and integrity. They are a very well knit unit and
believe in achieving the set goals with honesty and integrity. Their employees
are the core of the organisation.
Company Profile
|
Business Type |
Exporter ,
Manufacturer , Importer |
|
Sales Volume |
Rs. 8.0 Millions |
|
No of Staff |
4 |
|
Year of
Establishment |
2003 |
|
Export Markets |
Worldwide |
|
Investment on
Manufacturing Equipment |
Rs. 40 millions |
|
No of Engineers |
2 |
|
Monthly
Production Capacity |
Above
Rs. 5 /- |
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.44.93 |
|
UK
Pound |
1 |
Rs.85.71 |
|
Euro |
1 |
Rs.57.34 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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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 |
YES |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
37 |
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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