MIRA
INFORM REPORT
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Report Date : |
14.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
Eskay Battery Industries |
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Registered Office : |
D-21 , First Gate , Gokul Road , Hubli 580030 Karnataka |
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Country : |
India |
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Year Of Establishment : |
1992 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRE04446B |
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PAN No.: [Permanent
Account No.] |
AAAFE4293K |
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Legal Form : |
Partnership Concern with an unlimited liability of the partners |
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Line of Business : |
Manufacturer of Battery, Battery Plates , Lead Oxide , Lead Parts and
related Battery parts . |
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 10000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well –established and reputed concern having satisfactory
track. Partners are reported as experienced and respectable businessmen.
Trade relations are reported as fair. Business is active .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 : |
D-21 , First Gate , Gokul Road , Hubli , 580030 , Karnataka , India |
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Tel. No.: |
91-836 -2331610/2281224 |
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Website : |
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Factory : |
3 Manufacturing Units located in the Golul Industrial Estate
Hubli. |
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Area : |
Each Units 3000 sq. ft. |
PARTNERS
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Name : |
Mr. Anil Mahendrakar |
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Designation : |
Partners |
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Date of Birth/Age : |
46 Years |
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Qualification : |
Electrical Engineer |
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Experience : |
15 Years |
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Mobile No.: |
91-9448116783 |
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Name : |
Mrs. Nanda |
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Designation : |
Partners |
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Date of Birth/Age : |
42 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Battery, Battery Plates , Lead Oxide , Lead Parts and
related Battery parts . |
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Products : |
Ø All kinds of batteries
including lead acid , lead oxide , lead alloy , gray oxide batteries Ø Heat Chilled
Battery Ø Automotive
Batteries Ø UPS Batteries Ø Inverter
Batteries Ø Computer
Batteries Ø Battery Plates
and other battery parts. |
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Terms : |
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Selling : |
Against Payment |
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Purchasing : |
Against Payment |
GENERAL
INFORMATION
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Suppliers : |
A P L Industriers (Bangalore) Indian Metal Industries (Bangalore) |
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Customers : |
Kannan Batteries (Bangalore) New Power Pack (Bangalore / Mysore ) |
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No. of Employees : |
32 People |
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Bankers : |
Sangli Bank Limited, Hubli |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
K. Jayaram Sagar Chartered Accountant |
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Address : |
Hubli |
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Memberships : |
NKSSIA (North Karnataka Small Scale Industries Association ) |
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Associates/Subsidiaries : |
S .K .Auto Electric Works (Hubli) |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.2.500 millions |
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Borrowed : |
-- |
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Total : |
Rs.2.500 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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4.000 |
3.000 |
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Profit/Loss for the year |
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10 % to 15 % |
10% to 15% |
Average value of Inventories at any give time about 0.500 million
LOCAL AGENCY
FURTHER INFORMATION
Company Profiles:
They are an eminent manufacturer of durable batteries and firmly
believe in the above stated fact. Quality is they forte and this is where they
hold the edge over their competitors in this fiercely competitive domain. Their
immaculate product range includes all
types of Batteries, including the UPS Batteries, and Inverter Batteries. Products are embraced with durability,
user-friendliness, automatic actions, efficiency, and low-operating costs. With
a blend of the state-of-the-art infrastructure and a diligent workforce, they
have continuously engaged them selves in being a distinguished name in their
arena. Customer satisfaction is their prime objective and e constantly strive
for producing world class quality products.
AS Infrastructure
There company is equipped with a sound infrastructure and diligent workforce.
The company manufactures its products by utilizing the latest machinery and
quality raw materials. They believe that for a successful organization, an
appropriate amalgamation of the workforce and machinery is a prerequisite.
Constant innovation and a rigorous quality check are the two pillars on which
there organization remains stable. Their motto of customer satisfaction has
fetched us their trust, which motivates their spirits in any situation.
As Philosophy:
The slogan of customer
gratification is the reason for their phenomenal success. Constant
improvisation and an undying passion to succeed are the keys to their huge
market catering to diverse sectors of the clients. Subject practice high
ethical standards in both trading as well as manufacturing activities, also
consider the fact that in today's changing world, technology can get outdated
in a moment; therefore, all their employees are well-versed with the dynamic
market trends along with a constant guard against any obsolete technology.
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.42.79 |
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UK Pound |
1 |
Rs.84.90 |
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Euro |
1 |
Rs.57.79 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
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 |
YES |
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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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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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