MIRA
INFORM REPORT
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Report Date : |
20.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
NARGOLKAR
HEAVY PRESSING |
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Registered Office : |
Plot
No. B-27, MIDC, Walunj, Aurangabad-431133, Maharashtra, India. |
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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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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEN03724A |
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Legal Form : |
Partnership
Concern with an Unlimited Liability of the partners. |
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Line of Business : |
Manufacturer
of Welded Brake Shoes Assemblies, Parking Lever Systems, Sheet metal
stampings, Washers, Tars and Dies. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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
30000 |
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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 a well established concern having satisfactory track. Trade relations are
fair. Financial position is satisfactory. Payments are usually correct and as
per commitments. The
concern can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
Plot
No. B-27, MIDC, Walunj, Aurangabad-431133, Maharashtra, India. |
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Tel. No.: |
91-240-2244680/81 |
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Email: |
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Area : |
12000sq,ft |
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Location : |
Leased
(from MIDC) |
SOLE PROPRIETOR/PARTNERS/DIRECTORS
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Name : |
Mr.
Abhijeet Nargolkar |
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Designation : |
Partner |
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Date of Birth/Age : |
33
years |
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Qualification : |
Graduate |
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Experience : |
15
years |
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Name : |
Mr.
Shashikant Nargolkar |
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Designation : |
Partner |
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Date of Birth/Age : |
60
years |
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Qualification : |
Under
Graduate |
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Experience : |
35
years |
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Name : |
Mr.
Chandrashrkhar Gondhlekar |
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Designation : |
Partner |
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Date of Birth/Age : |
45
years |
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Qualification : |
C.A. |
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Experience : |
20
years |
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Name : |
Mrs.
Netras Gondhlekar |
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Designation : |
Partner |
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Date of Birth/Age : |
40
years |
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Qualification : |
Graduate |
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Experience : |
15
years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer
of Welded Brake Shoes Assemblies, Parking Lever Systems, Sheet metal
stampings, Washers, Tars and Dies |
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Terms : |
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Selling : |
Credit
(60 days and 90 days) |
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Purchasing : |
Credit
(30 days and 60 days) |
GENERAL
INFORMATION
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Customers : |
End
Users |
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No. of Employees : |
20 |
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Bankers : |
Shamrao
Vithal Co-operative Bank Limited, Aurangabad |
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Facilities : |
The
concern is reported to enjoy some facilities from its bank. |
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Banking Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
4.000 millions |
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Borrowed : |
Rs.
4.000 millions |
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Total : |
Rs.
8.000 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 |
40.000 |
47.340 |
32.040 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References
- Baja Auto Limited, Pune.
ISO 9001-200 Certified Company
Mission Statement
· To Provide cost effective time bound solutions of optimum quality to their c
- To reduce imput cost of their customer
- To fulfil and satify the technical needs of their customer
- To achieve the No 1 status in the eyes of their customer.
The Team
· Mr. Shashikant Nargolkar—Managing Director
· Mr. Abhijit Nargolkar—Product Development
· Mr. Chandrashekar Gondhalekar-Accounts
· Mr. Shashikant Gondhalekar-Administration
Market summary
A change in economies and a labialisation of
policies has projected the need organisation which can provide time bound and
cost effective solutions for helping them to reduce cost and time required for
their operations and there their bottom limes
Competition
Their competition comes from similar sized
organisations but their advantage1 ability to process the needs faster and more
efficiently leading to cost advcovering all quality aspects. They firmly
believe in envisioning future problem arise for their customer resulting in
savings of great magnitude in time and m.
Goals & Objectives
·
To
increase their turnover every year by 30%
·
To
increase their share to 70 % for all their services provided to an organisation
·
To be
at the top of the dependable and reliable organisation list of their c
·
Turnover
figures for last 3 years
Available Resources
·
A well
equipped tool room for day-to-day activities and dedicated tool roor available
for large-Scale requirements
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A team
of dedicated and experienced individuals to handle all areas of wo
·
Backed
by a strong financial backbone for necessary organisational suppot
·
Sheet
metal press capacity-10 Tonnes to 300 Tonnes(30 No)
·
Un-
utilized capacity-1 million expandable to 2millon strokes
·
Special
purpose welding machines-up to kva(10 No)
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.44.86 |
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UK
Pound |
1 |
Rs.84.97 |
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Euro |
1 |
Rs.57.59 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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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 |
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 |
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 |
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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TOTALs |
|
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
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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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