MIRA
INFORM REPORT
|
Report Date : |
02.11.2006 |
IDENTIFICATION
DETAILS
|
Name : |
KARNATAKA
IRON WORKS |
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Registered Office : |
Balmatta
Road, Mangalore – 575002, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1947 |
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Legal Form : |
Sole
Proprietory Concern |
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Line of Business : |
Fabricators
and Machinery Manufacturers – Focussing on Fish Metal & Oil Plant
Machinery. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
40000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Usually
correct |
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Litigation : |
Clear |
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Comments : |
Subject
is an established concern and expects to do better in the current year. Trade relations are fair. Payments are usually correct and as per
commitments. The
concern can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office/ Factory : |
Balmatta
Road, Mangalore – 575002, Karnataka, India |
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Tel. No.: |
91-824-2212500 |
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Mobile No.: |
91-9448452500 |
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Fax No.: |
91-824-4252500 |
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E-Mail : |
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Area : |
1000
sq. ft. [Factory - 6000 sq. ft.] |
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Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr.
John J. Amanna |
|
Designation : |
Sole
Proprietor |
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Date of Birth/Age : |
65
years |
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Qualification : |
Matric |
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Experience : |
40
years |
BUSINESS DETAILS
|
Line of Business : |
Fabricators
and Machinery Manufacturers – Focussing on Fish Metal & Oil Plant
Machinery. |
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|
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Exports to : |
African
Countries, U.A.E., Maldives, etc. |
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Terms : |
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Selling : |
Sight
L/C against Payment |
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Purchasing : |
Against
Payment |
GENERAL
INFORMATION
|
Suppliers : |
M. M.
Gears, Coimbatore, India Karnataka
Engineering Enterprises, Bangalore, Karnataka, India |
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|
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Customers : |
Island
Enterprise, Maldives Alamoudi
Marine Products, Yemen Eastern
Provincial Livestock, South Africa |
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No. of Employees : |
15 |
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Bankers : |
Corporation
Bank Pandeshwar
Branch, Mangalore |
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Banking Relations : |
Satisfactory
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Auditors : |
Chandramohan
K. Y. Y. & Company Mangalore |
CAPITAL STRUCTURE
|
Capital
Investment : |
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Owned : |
Rs.
10.000 millions |
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Borrowed : |
- |
|
Total : |
Rs.
10.000 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
|
Particulars |
31.03.2007 [Projected] |
31.03.2006 |
31.03.2005 |
|
Sales Turnover |
15.000 |
2.000 |
1.500 |
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Inventories |
3.000 |
N.A. |
N.A. |
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Export Value |
10.000 |
N.A. |
N.A. |
Profitability indicated around 15%
LOCAL AGENCY
FURTHER INFORMATION
Technical
Collaborator from :
>
C.F.T.R.I., Mysore
WEBSITE
DETAILS
Fish
Meal & Oil Plant Machinery dominates Fish Meal and Fish Oil production
industry. This is a pioneer industry, which is working with dedication and
commitment since its establishment in 1947. Their company wholly deals in Fish
Meal (for Poultry, Cattle and Prawn feed) and Fish Oil and exports them
globally under the banner of 'Karnataka
Iron Works'.
Their
company owns a well-planned and well-equipped automated manufacturing plant to
provide quality products to their customers without giving them any chance for
complaint.
|
Their
Manufacturing Unit Consists of |
Screw
Conveyor, Cooker, Double Screw Press, Rotary Steam Dryer, Cyclone Separator,
Hammer Mill and Smallest Boiler. All with Motors, Starters, Gears, Pulleys,
Belts, etc. |
|
Factory
and Power |
60
Feet x 40 Feet HP 50 |
|
Raw
Material Used |
Sardine
or Oily Fish (raw) and Fish waste from Canning Factory. |
|
Finished
Products |
Fish
Meal and Fish Oil |
|
Usage
of Their Products |
Fish
Meal for Poultry, Cattle and Prawns Feed. Fish Oil is used for Soap, Paint
and Leather Tanning Industries. |
|
Profitability |
One
can recover the investment within 6 months provided raw Fish and Fish Waste
is available |
Fish Oil
is widely used for Soap, Paint and Leather Tanning Industries. Their technical
know-how is from C.F.T.R.I and N.R.D.C. They have successfully commissioned 19
plants in the Domestic as well as International Market.
To the
continuous efforts towards growth, progress and establishment, Fish Meal & Oil
Plant Machinery has a big workforce with all levels of skilled and semi-skilled
workers, technicians and a dedicated and experienced team of engineers,
marketing personnel, skilled technicians and supporting professionals to take
their company on the high.
COMPANY
PROFILE
|
Business Type |
Exporter, Manufacturer |
|
Primary Competitive Advantages |
Enters machine made by best Indian
Product. And it gives trouble-free service for years together and it is very
economic. Easy to operate. |
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Year of Establishment |
1947 |
|
Product Range |
Fish Meal (Poultry, Cattle and Prawn
feed), Fish Oil for Soap, Paint and Leather Tanning Industries. |
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.85.69 |
|
Euro |
1 |
Rs.57.32 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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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 |
NO |
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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 |
|
45 |
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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