MIRA
INFORM REPORT
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Report Date : |
06.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
HEATRON
INDUSTRIAL HEATERS |
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Registered Office : |
SM
159, Industrial Estate, Baikampady,
Manglore – 575011, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1996 |
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Legal Form : |
Sole
Proprietory Concern. |
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Line of Business : |
Manufacturers
of Domestic and Industrial Heaters, Temperature Controllers, Furnaces and
Ovens. |
RATING & COMMENTS
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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 |
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Maximum Credit Limit : |
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Status : |
Small
concern |
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Payment Behaviour : |
Usually
correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established but small concern. It’s trade relations are fair.
Payments are usually correct and as per commitments. The
concern can be considered for small to mediocre business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
SM
159, Industrial Estate, Baikampady,
Manglore – 575011, Karnataka, India |
|
Tel. No.: |
91-824-2408217
/ 2243603 |
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Mobile No : |
91-9448992755,9845084217 |
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Fax No.: |
91-824-2408217 |
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E-Mail : |
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Area : |
800
sq. ft. |
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Location : |
Owned |
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Factory
1 : |
Baikampady
Industrial Estate, Manglore – 575011,
Karnataka, India |
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Area : |
1200
sq. ft. |
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Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. K.
Ramesh Rao |
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Designation : |
Proprietor
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Date of Birth/Age : |
33
Years |
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Qualification : |
Diploma
in Electrical Engineering |
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Experience : |
10
Years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers
of Domestic and Industrial Heaters, Temperature Controllers, Furnaces and
Ovens. |
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|
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Products : |
Industrial and Domestic Heaters, Panels, Ovens, Furnaces, Temperature
Controller, Air Heaters, Cartridge Heaters, Thermocouples etc. |
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Terms : |
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Selling : |
Local
45 days |
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Purchasing : |
Local
30 days |
GENERAL
INFORMATION
|
Suppliers : |
v
Ashley
Insulations – Chennai v
Chande
Enterprises – Chennai v
Wilson
Metal Mart – Coimbatore |
|
|
|
|
Customers : |
v
Finolux
Industries Limited – Goa v
Finolux
Cables Limited – Goa v
Ramson
Industries – Goa |
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|
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No. of Employees : |
20 |
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Bankers : |
Vijaya
Bank, Baikambady, Mangalore – 575011 |
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Facilities : |
Cash
Credit : Rs. 0.100 millions |
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Banking Relations : |
Satisfactory
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Auditors : |
I. V.
Sharma Chartered
Accountants Bangalore
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Associates/Subsidiaries : |
v
Rechane
Services v
Heatron
Industrial Electricals |
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Membership : |
Kassia
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CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
1.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs.
1.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover |
|
1.600 |
1.400 |
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Profit/Loss for the year |
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0.140 |
0.098 |
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Average
value of Inventories : Rs. 0.2 – 0.3 millions
LOCAL AGENCY
FURTHER INFORMATION
About Heatron Industrial Heaters
They are extremely pleased to introduce their selves as pioneers in innovative
Heating Element, designs and solutions. Specializing in high quality with
technology machineries and materials. They started with a group of dedicated
professionals and trained team of workers who enabled best productions for
Industrial and Domestic Heaters. They are proud manufacturer of quality proven
Heaters and Furnaces. In a short span of time they have been able to offer
their esteemed customers with supreme heating solutions upto the Global
Standards in terms of quality.
Products
They are manufacturer of Industrial and Domestic Heaters, Panels, Ovens,
Furnaces, Temperature Controller, Air Heaters, Cartridge Heaters, Thermocouples
etc. In these sheer hard working years they have acquired a very vast
experience in dealing with heating elements and its solutions. They continually
strive to improve their standard as well as their products, according to the
changes in time and technology.
Mission
Viewing the faster development in the market, their mission is to provide
innovative products, which are more economical and user friendly to fulfill the
needs and requirements of the customers.
Quality
Each and every member of their professional team takes responsibility for
producing and maintaining the highest quality products available on the market
today. They are committed to providing quality products and services by
continuous improvement. They define all requirements in partnership with their
customers and they conform to them consistency.
Services
Their fundamental commitment is to total customer satisfaction by furthering
business interests. They are also committed to maintaining their position. They
have been rendering their sales and after sales services through their
best-selected team of executives and distributors.
Company
Profile
|
Business Type |
Exporter ,
Manufacturer |
|
Primary
Competitive Advantages |
Timely shipments of Industrial Heaters
with finest quality. |
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No of Staff |
16 |
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Year of
Establishment |
1996 |
|
OEM Service
Provided |
Yes |
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Production Type |
Manual |
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No of Engineers |
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.44.65 |
|
UK
Pound |
1 |
Rs.85.03 |
|
Euro |
1 |
Rs.56.98 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--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 |
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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 |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
38 |
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 |
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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 |
|
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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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