MIRA INFORM REPORT
|
Report
Date : |
27.11.2006 |
IDENTIFICATION
DETAILS
|
Correct
Name : |
RAMANI AUTOMATION SYSTEM PRIVATE LIMITED |
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Registered
Office : |
1132, Sector 34-C, Chandigarh - 160 022, Punjab |
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Country
: |
India |
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Financials
(as on) : |
31.03.2006 |
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Date
of Incorporation : |
07.04.2000 |
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Com.
Reg. No.: |
16-23593 |
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CIN
No.: [Company
Identification No.] |
U34300CH2000PTC023593 |
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TAN
No.: [Tax
Deduction & Collection Account No.] |
PTLR10163G |
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Legal
Form : |
Private Limited Liability Company |
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Line
of Business : |
Manufacturers of Automation System, Agriculture Machinery,
Tools and Gauges Instruments, etc. |
RATING & COMMENTS
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MIRA’s
Rating : |
Ba |
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 25000 |
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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 well established and reputed company having
satisfactory track. Directors are reported as experienced and respectable
businessmen. Their trade relations are fair. Business is active. Payments are
usually correct and as per commitments. The company can be considered normal for business dealings
at usual trade terms and conditions. |
LOCATIONS
|
Registered
Office : |
1132, Sector 34-C, Chandigarh- 160 022, Punjab, India
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Tel.
No.: |
91-172-2661114 / 2571971 |
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Fax
No.: |
91-172-2603732 |
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E-Mail
: |
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Website
: |
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Factory
1 : |
140,
Industrial Area, Phase-II, Panchkula- 134 113, Haryana, India |
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Tel.
No.: |
91-172-2592105/
2591971/ 266114 |
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Fax
No.: |
91-172-2591971 |
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E-Mail
: |
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Website
: |
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Area : |
2 acres |
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Location : |
Owned |
DIRECTORS
|
Name : |
Mr. Hari Om Verma |
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Designation
: |
Chairman Cum Managing Director |
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Address
: |
House No. 1132, Sector 34-C, Chandigarh- 160034, Punjab,
India |
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Date
of Appointment : |
07.04.2000 |
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Name : |
Mr. Rahul Verma |
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Designation
: |
Director |
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Address
: |
House No. 1132, Sector 34-C, Chandigarh- 160034, Punjab,
India |
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Date
of Appointment : |
07.04.2000 |
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Name : |
Mr. Manik Verma |
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Designation
: |
Director |
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Address
: |
House No. 1132, Sector 34-C, Chandigarh- 160034, Punjab,
India |
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Date
of Appointment : |
07.04.2000 |
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Name : |
Mr. Siya Nand Verma |
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Designation
: |
Director |
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Address
: |
VPO, Harnaul, Jagadhri – 135 103, Haryana, India |
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Date
of Appointment : |
07.04.2000 |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Hari
Ram Verma |
|
50100 |
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Mr. Rahul
Verma |
|
20100 |
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Mr. Manik
Verma |
|
20100 |
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Mr. Siya
Nand Verma |
|
10100 |
|
Hari Om
Verma & Sons [HUF] |
|
20100 |
BUSINESS DETAILS
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Line
of Business : |
Manufacturers of Automation System, Agriculture Machinery,
Tools and Gauges Instruments, etc. |
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Products
: |
Automatic
Torch Cleaning System for Welding Robots. Automatic
Inspection & Bolt Pressing Machine for Connecting Rod of Maruti - 800. Automatic
Spot Facing Machine for Connecting Rod of Maruti - 800. Machines
for Assembling & Manufacturing of Radiators for Cars . Welding
Fixtures for Welding of Main Chassis of Hero Honda Motor Cycles. Tube
Re-Cut Machine for Heater Core of Zen & Matiz. Header
Setter Machine for Heater Core of Zen & Matiz. Tank
Clinching Machine for Heater Core of Zen & Matiz Assembly
Fixture for the Welding of New Models of Hero Honda Motor Cycles. Automatic
Bolt Tightening & Marking Machine for Brake Calipers. 9 -
Points Crimping Machine for Power Booster of Car Brakes. All
Combined Crimping Machine ( 4 Machines in one ) , for Power Boosters of Car
Brakes. Inner
Cutting Machines for Control Cables Manufacturing Industry Automatic
Continuous Spring Coiling Machines for Outer Springs of Automotive Control
Cables etc. Pipe
Bending Checking Fixture for Instrument Panel Pipes. Automatic
Multi Head Drilling Machine for Instrument Panel Pipes. Leakage
Testing Machine for Automotive Exhaust Systems. Conveyorised
Rod Assembling Machine Pneumatic
Hole Punching Machine Pneumatically
Powered Circlip Pressing Machine Pneumatic
Assembling & Pressing Machines for Parts. Conveyorised
Spray Coating System for Polyurethane Paint, along with Baking Oven. Automatic
Condom Vending Machines , for Dispensing of Condoms Straightening
Machine, with Decoiler & Auto Coiler with Traverse System Automatic
Grease Injection Machine for Brake Calipers Reel Let
- off Machines for Hose Pipes Industry. Sheath
Stripper, Sheet Duster, Mandrel Inspection & other Special Machines for
Rubber Hose Pipes Manufacturing Industry. Rotary
Finishing & Winding Machine with 10 ft. Diameter Automatic Rotary Table. Gang
Drilling Machines having upto 22 Drilling Heads. Pneumatically
Powered Transfer Moulding Machines for Rubber Profiles. Pneumatically
Powered Compression Moulding Machines for Rubber. Automatic
Link Breaking Machine with 7 Stations & 7 Ac Drives. Automatic
Shooting & Crimping Machines for Shock Absorber Manufacturing. Design
& Development of Automatic Circular Cutting Machines for Leather Straps
for Shoe Industry. Design
& Manufacturing of Machine for size cutting for Laminates ( Sunmica
Sheets). Development
& Manufacturing of Rolling Machines for Manufacture of Outer Springs of
Clutch / Brake Wires for Automobiles. Development
& Manufacturing of Automatic Spring Coiling Machines for Outer of Clutch
/ Brake Wires for Automobiles. Designing
& Manufacturing of Pointing Machine for Cable Industry. Double
Spindle Gear Tooth Rounding Attachment for Doubling the Capacity. Development
& Manufacturing of High Precision Components for Safety Alarm System for
Aircrafts. (a Defense Requirement) Reel Wind
- Up Machines for different sizes of Reels, for Rubber Hose Pipes
Manufacturing Industry. Automation System Agricultural Machinery Tools and Gauges Instruments |
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Terms
: |
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Selling : |
Cash and Credit up to 45 days |
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Purchasing : |
L/C, Cash and Credit up to 60 days |
GENERAL INFORMATION
|
Trade
References : |
Hilex India Private Limited BPL Automation Private Limited Dhinan India Limited |
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Customers
: |
Wholesalers End Users |
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No. of
Employees : |
200 |
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Bankers
: |
Bank of Punjab |
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Address:
|
Sector – 11, Panekkula- 134 113, Haryana, India |
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Banking Relations : |
Satisfactory |
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Auditors
: |
Jaideep Sharma and Company Chartered Accountants |
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Address
: |
SCO 847, NAC Manimajra- 160 101, Chandigarh, India |
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Tel.
No.: |
91-172-25075614 |
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Sister
Concerns : |
Ø Raman Engineering Technologies Line of Business: Manufacturers of
Machinery |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs. 10/- |
Rs. 2.500 millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
120500 |
Equity Shares |
Rs. 10/- |
Rs. 1.205 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS
FUNDS |
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1] Share
Capital |
1.205 |
1.205 |
1.229 |
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2]
Reserves & Surplus |
0.200 |
0.200 |
0.200 |
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3] Share
Application Money |
0.024 |
0.024 |
0.000 |
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4]
(Accumulated Losses) |
5.023 |
3.807 |
3.057 |
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NETWORTH
|
6.452 |
5.236 |
4.486 |
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LOAN
FUNDS |
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1]
Secured Loans |
1.198 |
0.300 |
-- |
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2]
Unsecured Loans |
1.235 |
2.587 |
3.257 |
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TOTAL
BORROWING
|
2.433 |
2.887 |
3.257 |
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DEFERRED
TAX LIABILITIES |
0.731 |
0.616 |
0.463 |
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TOTAL
|
9.616 |
8.739 |
8.206 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
|
6.747 |
5.199 |
3.703 |
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CURRENT ASSETS, LOANS & ADVANCES
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Inventories
|
1.001
|
2.961
|
1.725
|
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Sundry Debtors
|
1.368
|
0.452
|
0.324
|
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Cash & Bank Balances
|
0.138
|
0.149
|
0.666
|
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Loans & Advances
|
12.396
|
10.560
|
11.110
|
Total Current Assets
|
14.903 |
14.122 |
13.825 |
|
Less : CURRENT LIABILITIES & PROVISIONS
|
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Current Liabilities
|
10.885
|
10.200
|
8.913
|
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Provisions
|
1.155
|
0.389
|
0.419
|
Total Current Liabilities
|
12.040 |
10.589 |
9.332 |
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Net
Current Assets
|
2.863 |
3.533 |
4.493 |
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MISCELLANEOUS EXPENSES
|
0.006 |
0.007 |
0.010 |
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TOTAL
|
9.616 |
8.739 |
8.206 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
Sales Turnover [including other income]
|
26.132 |
13.298 |
18.919 |
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|
|
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Profit/(Loss) Before Tax
|
1.995 |
1.192 |
1.100 |
Provision for Taxation
|
0.665 |
0.283 |
0.283 |
Profit/(Loss) After Tax
|
1.330 |
0.909 |
0.817 |
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Total Expenditure
|
24.137 |
12.105 |
29.747 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
PAT / Total Income
|
(%)
|
5.08
|
6.83
|
4.32
|
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Net Profit Margin
(PBT/Sales) |
(%) |
7.63
|
8.96
|
5.81
|
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Return on Total Assets
(PBT/Total
Assets} |
(%) |
9.21
|
6.16
|
6.28
|
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|
Return on Investment (ROI)
(PBT/Networth) |
|
0.30
|
0.22
|
0.24
|
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|
Debt Equity Ratio
(Total
Liability/Networth) |
|
2.24
|
2.57
|
2.81
|
|
|
|
|
|
|
Current Ratio
(Current
Asset/Current Liability) |
|
1.23
|
1.33
|
1.48
|
LOCAL AGENCY FURTHER INFORMATION
|
Name of the company |
RAMANI AUTOMATION SYSTEMS [PRIVATE]
LIMITED, CHANDIGARH |
|
Presented By |
Fiat Sundaram Auto Finance Limited,
No. 21, Patullos Road, Chennai – 600002 |
|
1) Date and description of instrument
creating the change |
Loan Agreement dated 30.03.2002 Loan Agreement No. HP – 0097 |
|
2) Amount secured by the charge/amount
owing on the securities of charge |
Rs. 0.223 million and Rs. 0.023
million |
|
3) Short particular of the property
charged. If the property acquired is subject to charge, date of the acquired
of the property should be given |
On the security of 1. No. 2002 Mod
Fiat Palio 1.2 Car, bearing E. No. 0029475, Ch. No. 0802419 as mentioned in
the Ist schedule enclosed copy of the loan agreement |
|
4) Gist of the terms and conditions
and extent and operation of the charge. |
The total amount of Rs. 0.223 million
is repayable in 24 equal monthly installments of Rs. 0.009 million each. The Ist hiremoney falls due ib 30.03.2002 |
|
5) Name and Address and description
of the person entitled to the charge. |
Fiat Sundaram Auto Finance Limited,
No. 21, Patullos Road, Chennai – 600002 |
About Company:
Ramani Automation Systems Private Limited, is a company,
which was formed, basically keeping in view the utter need of Import
Substitution for Indian industry. The fact of problems in balance of payments;
Rising costs of Imported Machineries ; Devaluation of Indian Rupee and the
emphasis of Government of India, on Indigenisation have all further enhanced
the importance of this company.
The company is definitely contributing to the foreign
Exchange savings, by way of reducing the flow of precious foreign exchange
required for the import of equipments materials. Further the initial cost of
machineries & the running cost of maintenance & spares is also
guaranteed to be much lower, as compared to the cost of imported ones.
The company is headed by Mr H. O. Verma who is basically a
Mechanical Engineer with thirty long years practical experience in reputed
engineering organizations his last job was has the Head of Technical operations
of Rs 1500 millions High-Tech. Project of JCT Electronics (Mohali) S.A.S Nagar
District Ropar (Pb), setup in collaboration with Hitachi Limited, Japan.
After hard working on his job for 23 years the present
enterprise is the brain child of Mr H. O. Verma's acumen and innovative
entrepreneurial mind. For discussions with equipment supplier and others he
traveled abroad quite frequently and had been to Japan, Germany, Finland,
Singapore, Hongkong, England, Switzerland and Bangkok etc. several times, which
has given him good exposure of industrial work cultures in Europe and Japan.
His son Er Rahul Verma is also one of the Directors of the Ramani Automation
Systems (Private) Limited. Being a computer engineer he is well connected with
the global industrial houses and has developed an online liaison with number of
MNC's. The enterprise responds to the challenges from Multinational Automobile
Giants like M/s DELPHI Automotive Systems a hundred percent subsidiary of
General Motors of U.S.A.
In recognition of Mr. H. O. VERMA's performance as an
outstanding entrepreneur for the year 1998, National Award was conferred by
Government of India.
The main
activities of the company are listed below :-
·
Project
Planning, Engineering, Monitoring , Scheduling & Implementation.
·
Import
Substation of Equipments , Machinery , Products etc. Development &
Manufacturing.
·
Design
Engineering ; Design, Development of new Products.
·
Plants
Up-Gradation & Capacity Enhancement.
·
Expansions
in Existing Plants.
·
Automation
of Processes & Material Handling Systems.
·
Design,
Development , Manufacturing & Supply of Jigs, Fixtures Tools, Gauges &
so many other manufacturing aides required for mass production
·
Design, Development
& Manufacturing of Electronic Control modules for various applications,
against specific orders.
·
Design &
Manufacturing of Dies & Moulds for Sheet metal as well as Plastics.
·
The
projects once taken are implemented with efficiency , speed & Economy as
per the time schedule.
Areas of
Specialization :
>
Project
Engineering & Projects Development & Implementation.
>
Design
Engineering.
>
Projects
for Cost Reduction & Capacity Enhancement etc.
>
Monitoring
of Progress & Supervision of Plants during their implementation .
>
Import
Substitution & Special Purpose Machinery Developments.
>
Development
of New Projects & New Products.
>
Plant
Maintenance , specialization in Mechanical , Hydraulics / Pneumatics &
Robotics etc.
>
Tool
Designing, Jigs , Fixtures , Test Systems , Inspn. Gauges etc.
>
Plant
Engineering.
Infrastructure
Cylindrical
Grinders
Surface
Grinders
Milling
Machines
Centre
Lathes
Power Press
10 tons.
Power
Hacksaw
Drilling
Machines
Spot
Welding Machine
Air
Compressor
Powder
Coating Plant
Facilities with their
associates : -
CNC Boring & Milling Machine
Electrical Discharge Machine ( EDM )
CNC Wire Cut machine
Tool & Cutter Grinder
Centreless Grinder
Electronic Instruments for Testing
Design Engineering (Conventional & Auto Cad Systems ) :
>
Tool
Designing
>
Products
Designing
>
Designing
& Drafting
Electronics Maintenance : All necessary facilities for repairs, Maintenance
& Up-Gradation of CNC controls & Indigenization of old Imported systems
are available. Some of them are listed below :
Microprocessor Development System
Oscilloscope
PROM Programmer
I C Tester
Logic Probe
PC with Auto CAD
Diagnostic Cards
PROM Eraser
Inspection
Equipments:
Ø
Dial
Bore Gauge
Ø
Vernier
Height Gauge
Ø
Vernier
calipers
Ø
Micrometers
Ø
Dial
vernier Calipers
Ø
Digital
Micrometer
Ø
Digital
Vernier Caliper
Ø
Dial
thickness Gauge
Ø
Dial
Indicators & Testers
Inspection
Facilities :
In addition
to their own facilities, they have an access to High Precision facilities,
available in and around Chandigarh, such as Universal Measuring machine, Jig
Boring machine, Jig Grinding Machine, & other specialized facilities, as
and when required by them.
Trade
Reference :
Delphi
Automotive Systems Limited (General Motors U.S.A)
The Gates
Rubber Company of U.S.A.
Nishikawa
Rubber Company, Japan
Sachs India
(Mannesmann Group, Germany)
Gabriel
India Limited, Pune & Bangalore
Hero Honda
Motors Limited
Remsons
Industries
Shah
Concabs Limited
Anfilco
Escorts
Arvin
Exhaust - Chennai
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.44.65 |
|
UK Pound |
1 |
Rs.87.23 |
|
Euro |
1 |
Rs.58.96 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP
CAPITAL |
1~10 |
5 |
|
OPERATING
SCALE |
1~10 |
5 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT
LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
|
|
DEMERIT
POINTS |
|
|
|
--BANK
CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER
ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT
POINTS |
|
|
|
--SOLE
DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT
ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER
MERIT FACTORS |
YES/NO |
YES |
|
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 |
|