MIRA
INFORM REPORT
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Report Date : |
23.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
SPAN
ASSOCIATES |
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Registered Office : |
Tarkar
Products Compound, Hadapsar Industrial Estate, Pune-411013, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1978 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNES11355B |
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PAN No.: [Permanent
Account No.] |
AAEFS2496Q |
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Legal Form : |
Partnership
Concern with an Unlimited Liability of the Partners |
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Line of Business : |
Manufacturer
of Coolant Filteration Systems |
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 : |
USD
120000 |
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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. Payments are usually correct and as per commitment. The
concern is doing well. It can
be considered good for any normal business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered Office : |
Tarkar
Products Compound, Hadapsar Industrial Estate, Pune-411013, Maharashtra |
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Mobile No.: |
91-29822002303/
9850088771 |
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Factory
1 : |
Shed
No.6, Tarkar Products Compound, Hadapsar Industrial Estate, Pune-411013,
Maharashtra, India |
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Tel.
No.: |
91-20-26812284 |
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Fax
No.: |
91-20-26876006/
26874571 |
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E-Mail
: |
vgk@pn2.vsnl.net.in/ spanfilter@vsnl.net/ info@spanassociates.co.in |
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Factory
2 : |
Plot
No.29, Industrial Town Planning Scheme, Hadapasar II, Pune-411013,
Maharashtra, India |
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Tel.
No.: |
91-20-26872024/
26816237 |
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Fax
No.: |
91-20-26874455 |
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E-Mail
: |
vgk@pn2.vsnl.net.in/ spanfilter@vsnl.net/ info@spanassociates.co.in |
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Factory
3 : |
Plot
No.21/3, Behind Kwality Bakery, Hadapsar Industrial Estate, Pune-411013,
Maharashtra, India |
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Tel.
No.: |
91-20-26814277 |
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E-Mail
: |
vgk@pn2.vsnl.net.in/ spanfilter@vsnl.net/ info@spanassociates.co.in |
PARTNERS
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Name : |
Mr. V.
G. Kelkar |
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Designation : |
Partner |
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Date of Birth/Age : |
52
years |
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Qualification : |
Graduate |
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Experience : |
30
years |
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Name : |
Mrs.
Shree Kelkar |
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Designation : |
Partner |
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Date of Birth/Age : |
44
years |
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Experience : |
20
years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer
of Coolant Filtration Systems |
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Products : |
Product
Range Ø
Filtration
Systems Ø
Chilling
units Ø
Coolant
Pumps Ø
Dust
Collectors Filtration
Products Ø
Gravity
Filters Ø
Pressure
Filters Ø
Coolant
Pumps Ø
Vacuum
Filters Ø
Oil
Skimmers Oil Ø
Magnetic
Filters Ø
Conveyors Other
Products Ø
Magnetic
Separators Ø
Paper
Band Filters Ø
Vortex
Cleaners Ø
Chip
Conveyors Ø
Centrifuges Ø
Oil
Skimmers Ø
Compact
Band Filters Ø
Upflow
Filters Ø
Vacuum
Band Filters Ø
Auto
Belt Filters Ø
Self
Cleaning Wedge Wire Filters Ø
Oil
Cooling Units Ø
Centralized
Filtration Systems Ø
Centralized
Cooling Units Ø
Roll
Coolant Filtration Systems Ø
Coolant
Disposal Units Ø
Candle
Type Magnetic Separators Ø
Cartridge
Filters Ø
Air
Dust Collectors Ø
Bag
Type Filter Ø
Wedge
Wire Vacuum Drum Conveyor Ø
Filtration
Systems for Phosphating Solutions Ø
Impulse
Jet Type Air Dust Collector |
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Exports to : |
U.K.,
Middle East, China, Asian Countries |
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Imports from : |
France,
Germany |
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Terms : |
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Selling : |
Credit
(30 days) |
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Purchasing : |
Credit
(30 days) |
GENERAL
INFORMATION
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Customers : |
End
Users and OEM’s Ø
Cold
Rolling Mills Ø
Automotive
Sector Ø
Engineering
Industries Ø
Machine
Tool Manufacturers Ø
Bearing
Industries Ø
Wire
Drawing Applications Cold
Rolling Mills O.E.
Customers: Ø
Flat
Product Equipment Limited, Mumbai Ø
MECON,
Ranchi Ø
Multiform
Machinery, Mumbai Cold
Rolling Mills: Ø
Bhushan
Steels Limited Ø
Bhushan
Steels Limited, Calcutta Ø
Bhushan
Steels Limited, Khopoli Ø
JISCO,
Tarapur Ø
EBG,
Nashik Ø
Uttam
Steels Limited, Khopoli Ø
Hero
Cycles, Ludhiana Ø
Tube
Products of India, Chennai Ø
TISCO,
Jamshedpur Ø
Jindal
Aluminium Limited Export Ø
Kandil
Steel Complex, Egypt Ø
Somico,
Egypt Ø
R.
M. Steels, Bangladesh Ø
Appollo
Steels, Bangladesh Ø
S.
Alam, Bangladesh Automotive
Sector Ø
Two
Wheeler Manufacturers: Ø
Hero
Honda Motors Limited, Gurgaon Ø
Hero
Honda Motors Limited, Dharuhera Ø
Bajaj
Auto Limited, Pune Ø
Bajaj
Auto Limited, Aurangabad Ø
Kinetic
Honda Motors Limited, Indore Ø
Kinetic
Engineering Limited, Pune Ø
TVS
Suzuki Limited, Hosur Ø
LML,
Kanpur Ø
Honda
Motors Limited, Delhi Ø
Birla
Yamaha Limited Ø
Four
Wheeler Manufacturers: Ø
Telco,
Pune Ø
Telco,
Jamshedpur Ø
Ashok
Leyland, Chennai Ø
Ashok
Leyland, Hosur Ø
Maruti
Udyog Limited, Delhi Ø
Hindustan
Motors Limited, Indore Ø
Heavy
Vehicles Factory Ø
Mahindra
& Mahindra, Mumbai Ø
Mahindra
& Mahindra, Nashik Ø
Premier
Automobiles Ø
Punjab
Tractors Ø
Eicher
Tractors Ø
Escorts
Tractors Ø
Bharat
Earthmovers Limited Engineering
Industries Ø
Cummins
India Limited, Pune Ø
Tata
Cummins Limited, Jamshedpur Ø
Kirloskar
Oil Engines Limited, Pune Ø
Larsen
& Taubro Limited Ø
Gabriel
India Limited, Pune/ Nashik Ø
Vickers
Systems International Ø
MICO,
Banglore Ø
Axles
India Limited Ø
Bharat
Forge Limited, Pune Ø
Brakes
India Limited Ø
Bharat
Geers Limited Ø
Crompton
Graves Limited Ø
Toyoda
Kirloskar Auto Products Limited Ø
Shriram
Pitsons Limited Ø
Lucas
TVS Limited, Chennai Machine
Tool Manufacturers Ø
Widia
India Limited, Bangalore Ø
HMT,
Pinjore/ HMT, Bangalore Ø
HMT,
Hyderabad Ø
HMT,
Ajmer/ HMT, Ernakulam Ø
Telco
Automation Limited, Pune Ø
Bajaj
Auto Limited (Machine tool division) Ø
Lokesh
Machine Tools, Hyderabad Ø
Micromatic
Grinding, Gaziabad Ø
Parishudh
Machine Tools, Gaziabad Ø
PMT,
Pune Ø
Bharat
Fritz Werner Limited, Bangalore Ø
Nagel
Machine Tools, Bangalore Ø
Gehring
India Limited, Kanpur Ø
EMA
India Limited, Kanpur Ø
Premier
Automobiles Limited (Machine Tool Division), Pune Ø
Laxmi
Machine Works Limited, Coimbatoore Ø
Alex
Machine Tools, Mumbai Ø
TAL
Manufacturing Solutions Bearing
Industries Ø
SKF
Bearings Limited Ø
FAG
Bearings Limited, Baroda Ø
TIMKEN
Limited, Jamshedpur Ø
NRB
Bearings Limited Ø
Antifriction
Bearings Corporation Limited, Lonavala Ø
JSK
Bearings Limited Ø
INA
Bearings Limited Wire
Drawing Applications Ø
Precision
wires, Silvassa Ø
Atlas
wires, Silvassa Ø
Polycab
wires, Daman Ø
Venus
wires, Khopoli Ø
GK
Winding wires, Noida |
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No. of Employees : |
40 |
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Bankers : |
Central
Bank of India Pune
City Branch |
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Facilities : |
The
concern reported to enjoy some facilities from it’s bankers. |
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Banking Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Ø
Sea
Pumps, Pune, India Ø
Span
Filtermist, Pune, India |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.20.000
millions |
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Borrowed : |
Rs.10.000
millions |
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Total : |
Rs.30.000
millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
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Particulars |
|
31.03.2006 |
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Sales Turnover |
|
190.000 |
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Export Value |
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38.000 |
Group
Sales: Rs.250 millions
Expected
Sales (Group): Rs.300 millions
Expected
Sales March 2006: Rs.140.000 millions
LOCAL AGENCY
FURTHER INFORMATION
Web
Site Details:
Ø
ERP
Package installed for Inter Department Communication
Ø
Facilities
And Equipments for Customer Communication
Ø
More
than 40000 Sq.Ft. of Floor Space
Ø
20
Engineers and 30 Factory Workers
Ø
Manufacturing
Facilities include, Hydraulic Cutting and Behind Machines, Lathes, Milling
Machines, Radial Drilling Machines, Welding Machines, Compressor, Gensets.
Ø
In
House Fabrication, Machining, Electrical Wiring, Piping Facilities
Ø
Established
on 16th June 1978 by Mr. V.G. Kelkar
Ø
Largest
Manufacturer of Coolant Filtration System in India
Ø
Pioneers
of Roll Coolant System Manufacturers in India Without Consumable Media
Ø
Produced
more than 5000 Coolant Filtration of Various Capacities
Ø
Five
Production Units
Ø
Fully
Computerised Engineering office
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
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.44.75 |
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UK
Pound |
1 |
Rs.85.14 |
|
Euro |
1 |
Rs.57.55 |
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 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
|
54 |
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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