MIRA
INFORM REPORT
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Report Date : |
10.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
PARAS
MOTOR MANUFACTURING COMPANY |
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Registered Office : |
A-318,
Daman Indl. Estate, Somnath, Daman – 396210, U.T. of Daman &Diu. |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
2001 |
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Com. Reg. No.: |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMP16791F |
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PAN No.: [Permanent
Account No.] |
AADFP2489B |
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Legal Form : |
Partnership concern with an unlimited liability of the
partners |
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Line of Business : |
Manufacturing
& Sales of Three Phase Introduction Motors |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
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 : |
USD40000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established concern having satisfactory track. Trade relations are
fair. General financial position is satisfactory. Payments are usually
correct and as per commitment. The
concern can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
A-318,
Daman Indl. Estate, Somnath, Daman – 396210, U.T. of Daman &Diu.
India. |
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Tel. No.: |
91-260-2243875
/ 2242891 |
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Fax No.: |
91-260-2242891 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Administration
Office : |
32-A,
Vidya Villa compound, Old Nagardas Road, Andheri (E) |
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Tel.
No.: |
91-22-28325028
/ 28324837 |
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Fax
No.: |
91-22-28380947 |
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E-Mail
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Website: |
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Location : |
Owned |
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Godown: |
Unit-1,
Daman Indl. Estate, Somnath, Daman – 396210, U.T. of Daman & Diu. India |
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Area : |
5000
sq. ft. |
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Location : |
Owned |
PARTNERS
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Name : |
Mr.
Siddharth .G. Desai |
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Designation : |
Managing
partner |
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Address : |
Mumbai |
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Name : |
Mr.
Kishor .G. Desai |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Manufacturing
& Sales of Three Phase Introduction Motors. |
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Imports from : |
Europe,
U.S.A. Japan |
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Terms : |
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Selling : |
L/C,
Cash / Advance & Credit (30 days) |
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Purchasing : |
L/C,
Cash / Credit (30 days) |
PRODUCTION
STATUS
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Particulars |
Installed Capacity
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Actual Production |
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An in house pattern making and foundry
with capacity of 150. Tonnes |
As per, order |
GENERAL
INFORMATION
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Suppliers : |
Ø
Hansen Ø
Emerson Ø
Leeson Ø
Lincoln Ø
Marathon Ø
Reliance Ø
Reuland Ø
Siemens Ø
Teco Ø
Toshiba Ø
U.S.
motors and control, Inc. |
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Customers : |
Ø
Voltas Ø
Blue
Star Ø
HMT Ø
WIDIA Ø
Bajaj
Electrical Ø
Trumac Ø
Mihir
Engineers Ø
Telco Ø
Reliance
Industries Ø
Lohia Ø
Kolsite Ø
Killick Ø
Nikson |
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No. of Employees : |
65 |
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Bankers : |
State
Bank OF India Somnath
Branch, Daman-396210, Andheri
East Branch, Mumbai-400069 |
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Facilities : |
Rs.5.000
Million |
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Banking Relations : |
Satisfactory |
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Auditors : |
Not
Available |
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Associates/Subsidiaries : |
M/S
Hindustan Motor Manufacturing Company |
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Address: |
32-A,
Vidya Villa compound, Old Nagardas Road, Andheri (E), Mumbai-400069, India. |
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Tel. No.: |
91-22-28201316
/ 28360651 / 28380080 / 28380081 |
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Fax No.: |
91-22-28380947 |
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E-Mail: |
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Website: |
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CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
10.000 Million |
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Borrowed : |
- |
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Total : |
Rs.
10.000 Million |
FINANCIAL DATA
[all figures are in Rupees
Millions]
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Particulars |
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31.03.2006 |
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Sales Turnover |
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50.000 |
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Import Value |
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10.000 |
Average
stock maintained : Rs.5.000 Millions p.m.
LOCAL AGENCY
FURTHER INFORMATION
As
per Website:
Subject
is one of the leading Elecric Motors manufavturer in India having ISO 9001
certification. They have experience of over more than 28 years in design,
development and manufacturing of electric motors.
Hindustan
Motors Manufacturing co. caters the need of machine tools, blowers and fans,
air-conditioners, compressors,material handling equipment, cranes and hoist,
textile machinery,cement plant, pharmaceutical machinery, packing machinery,
construction equipment, general engineering applications and wide range of
application.
About
Us:
The
early days
All they
had was their qualification, their experience and load of entusiasm. Ans a tiny
rented place. Today those very engineers.
Who
started with a dream, have made their dream a reality- with Hindustan Motor Mfg
co.,(HMM)
A
company with its own
Factories,
shops with the latest technology; sophisticated labs;
Office
premises and supporting technical staff.
That’s
not all; the future is secured as well; with new factory at
Daman
and Vapi, Gujarat well spread over 8 acres of land and
House
the factory as well as staff quarters.
A bright
horizon
At HMM,
the future is bright and focused. Growth is not an event;
It’s a
process and HMM has plans. A major expansion program to achieve new
Level of
self sufficiency that includes:
Ø
Tool
room
Ø
An
in house pattern making and foundry with capacity of 150 tonnes
Ø
New
sophisticated product machinery
Ø
Stamping
and lamination facility
Ø
Pressure
die casting facility
As an
advantage of its in house facilities, HMM is capable of taking every challenge
of the market in terms of production,both quality and qualitywise. The factory
produces it’s own tooling, pattern mould, jigs and fixtures. As a result of
this HMM offers its range of products in a very short time at very compitative
prices. A drem is a goal with an objective. HMM hopes to continue its
contribution to overall natural resources.
Product
perfaction:
Rang of
products to suit all kind of industrial needs. And the rang is compelete motors
with standard ratings and duty cycles; 3 phases as well as single phase squirrel
cage motor with standard speeds and various construction.
Ø
Three
phase motors from 0.093 KW to 90 KW
Ø
Single
phase motors
Ø
Gear
motors from 0.12 KW to 7.5 KW, 16-400 RPM
Ø
Flame
proof motors from 0.093 KW to 22 KW
Ø
Crane
duty motor
Ø
Inverter
duty motors
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Motors
for special supply condition
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Textile
motors(loom motors, card motors and ring frame motors)
Ø
Torque
motors
Ø
Low
vibration motors
Ø
Cooling
tower motors
Ø
Break
motors
Ø
Vibratory
motors
Ø
Special
motors
HMM caters the need of machine tools blowers and fans, air-conditioners, compressors, material handling equipment, cranes and hoist, textile machinery, cement plant, pharmaceutical machinery, packaging machinery construction equipment, general engineering applications and wide rang of applications.
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
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Currency |
Unit
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Indian Rupees |
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US
Dollar |
1 |
Rs. 44.90 |
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UK
Pound |
1 |
Rs. 85.91 |
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Euro |
1 |
Rs. 57.78 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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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 |
6 |
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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 |
NO |
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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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47 |
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
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RATING |
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 |
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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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