MIRA
INFORM REPORT
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Report Date : |
06.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
HEAT COOL FIN INDUSTRIES |
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Registered Office : |
Plot No. 1002 / 2E, IV Phase, G.I.D.C., Vapi – 396195, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1991 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
SRTH00439F |
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PAN No.: [Permanent
Account No.] |
AABFH9222Q |
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Legal Form : |
Subject is a Proprietory Concern. |
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Line of Business : |
Manufacture Heat Exchangers Equipment Heat Exchangers, Finned Tube
Heat Exchangers, Fin Tubes Industrial Condensers, Industrial Chillers, Reaction Vessels and Pressure Vessels |
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 6000 |
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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 steady business. 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 : |
Plot No. 1002 / 2E, IV Phase, G.I.D.C., Vapi – 396195, Gujarat |
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Tel. No.: |
91-260-2423047 / 2431063 / 2428399 |
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Mobile : |
91-9824130918 |
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Fax No.: |
91-260-2431166 / 2428399 |
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E-Mail : |
heatcool@rediffmail.com |
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Website : |
http://www.indiamart.com/heatexchanger/ |
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Area : |
3000 Sq. fts. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. P. Venugopalan |
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Designation : |
Proprietor |
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Date of Birth/Age : |
56 Years |
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Qualification : |
Graduate |
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Experience : |
30 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacture Heat Exchangers Equipment Heat Exchangers, Finned Tube
Heat Exchangers, Fin Tubes Industrial Condensers, Industrial Chillers, Reaction Vessels and Pressure Vessels |
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Terms : |
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Selling : |
Cash, Credit (30 to 60 Days ) |
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Purchasing : |
Credit (30 to 60 Days ) |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
15 |
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Bankers : |
Punjab National Bank Vapi, Gujarat |
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Facilities : |
Cash Credit Rs.3.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Gopal Krishnan Nair and Company Chartered Accountant |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.1.500 millions |
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Borrowed : |
Rs.3.000 millions |
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Total : |
Rs.4.500 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
38.000 |
35.000 |
30.000 |
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Expected Sales (2007-08) : Rs.40.000 millions
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCE :
Ø Birla Cellular
Limited, Kosamba, Gujarat
Ø Blue Star Limited,
Mumbai
Ø Micro Ink Limited,
Mumbai
Ø Atul Limited, Vapi
Ø Bilak Industries
Limited, Vapi
Ø Persticrip
Industries Limited, Mumbai
Web Details Attached :
Company Profile :
Since its establishment in the year 1991, the company has emerged as a
market leader in the manufacture of heat transfer equipment. The company has
always striven to provide the best to its customers, and is guided by the
principles of diligence, supreme quality and Total customer satisfaction. It
derives its strength from well experienced and motivated team of qualified
engineers. At Heat-Cool, concern are known for developing highly competitive
products of super quality for its valuable customers. It’s impressive price
range and customer-friendly services have made they a popular name in the
market.
The Company have carefully developed their range of products to ensure genuine
business with their renowned clients. It’s exhaustive range of products satisfy
the diverse customer needs. The company focuses on quality and thus has
designed a host of products that includes:
» Heat Exchangers
» Finned Tube Heat Exchangers
» Fin Tubes
» Industrial Condensers
» Industrial Chillers
» Industrial Radiators
» Reaction Vessels
» Pressure Vessels
At Heat - Cool Fin Industries, quality is not a norm but a habit. It’s prime
focus is on producing and delivering high quality products that would make
their customers happy. The Company subscribe to stringent quality checks that
are in compliance with international standards. It’s thrust for quality has carved
a niche in the domestic and export market.
OUR HI-TECH INFRASTRUCTURE
The company possesses state of the art technology and infrastructure. The
manufacturing unit comprises of the latest advanced machinery and equipment. At
regular intervals Concern keep updating their unit with the most advanced
techniques, to deliver the best to their customers. Besides the hi-tech
machines, Concern treasure a team of highly skilled, dedicated and diligent
workforce, who have always been the vital components of the organization.
CLIENTS
Concern impressive price range and customer-friendly services have made them a
popular name in the Indian market. Concern strength is its wide network, which
covers all major cities in India. Concern has major companies among its
clients, and presently concern is looking to expand concern network by covering
more cities and towns in India.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.88 |
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UK Pound |
1 |
Rs.84.22 |
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Euro |
1 |
Rs.57.27 |
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 |
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 |
NO |
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TOTAL |
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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
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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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