MIRA
INFORM REPORT
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Report Date : |
11.08.2007 |
IDENTIFICATION DETAILS
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Name : |
V K ENGINEERS |
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Registered Office : |
Plot No. I/5/A, GIDC Estate, Phase II, Near Vinzol Railway Crossing,
Vatva, Ahmedabad – 382 445, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1994 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and
Exporter of Rotogravure Printing Machine up to 10 colors, Rotogravure
Printing Machine with online lamination, Laminating/Coating Machine, Heavy
Duty Drum Type Slitter Rewinder Machine, Light Duty Drum Type Slitter
Rewinder Machine, Light Duty Shaft Type Slitter Rewinder Machine Core Cutting Machine, Winding/Unwinding Machine |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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. |
Small |
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Maximum Credit Limit : |
USD 2400 |
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Status : |
Small Concern |
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Payment Behaviour : |
Slow and Delayed |
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Litigation : |
Clear |
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Comments : |
Subject is a
small concern having moderate track. Payments are reported as slow and
delayed. The concern can be considered for small to mediocre business
dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office /Factory : |
Plot No. I/5/A, GIDC Estate, Phase II, Near Vinzol Railway Crossing,
Vatva, Ahmedabad – 382 445, |
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Tel. No.: |
91-79-25890104 |
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Mobile No.: |
91-9879560154/ 9427310325 |
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Fax No.: |
91-79-25895340 |
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E-Mail : |
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Area : |
500 sq. yards |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Valji Makwan |
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Designation : |
Sole Proprietor |
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Date of Birth/Age : |
47 Years |
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Qualification : |
Under Graduate |
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Experience : |
20 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and
Exporter of Rotogravure Printing Machine up to 10 colors, Rotogravure Printing
Machine with online lamination, Laminating/Coating Machine, Heavy Duty Drum
Type Slitter Rewinder Machine, Light Duty Drum Type Slitter Rewinder Machine,
Light Duty Shaft Type Slitter Rewinder Machine Core Cutting Machine, Winding/Unwinding Machine |
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Products : |
§
Rotogravure Printing Machine up to 10 colors §
Rotogravure Printing Machine with online
lamination §
Laminating/Coating Machine §
Heavy Duty Drum Type Slitter Rewinder Machine §
Light Duty Drum Type Slitter Rewinder Machine §
Light Duty Shaft Type Slitter Rewinder Machine
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Core Cutting Machine
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Exports : |
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Products : |
Rotogravure Printing
Machine up to 10 colors, Rotogravure Printing Machine with online lamination,
Laminating/Coating Machine, Heavy Duty Drum Type Slitter Rewinder Machine,
Light Duty Drum Type Slitter Rewinder Machine, Light Duty Shaft Type Slitter
Rewinder Machine, Core Cutting Machine,
Winding/Unwinding Machine |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit upto 15-45 days basis |
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Purchasing : |
Cash and Credit upto 30-45 days basis |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
About 10-20 |
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Bankers : |
Vatva Branch, Ahmedabad, |
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Banking
Relations : |
Unknown |
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Sister Concern : |
Ahmedabad, Line of Business: Manufacturer and Exporter of Rotogravure Printing Machine up to 10 colors, Rotogravure Printing Machine with online lamination, Laminating/Coating Machine, Heavy Duty Drum Type Slitter Rewinder Machine, Light Duty Drum Type Slitter Rewinder Machine, Light Duty Shaft Type Slitter Rewinder Machine, Core Cutting Machine, Winding/Unwinding Machine |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 0.600 million (Estimated) |
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Borrowed : |
Nil |
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Total : |
Rs. 0.600 million (Estimated) |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 (Estimated) |
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Sales Turnover |
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6.500 |
6.000 |
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LOCAL AGENCY FURTHER INFORMATION
As Per Web:
Profile
Subject is a leading company engaged as a manufacturer and
exporter of a wide variety of Converting Machines for Flexible Packaging Industries
and caters to a wide variety of customers for their specific needs. The
flexibility in designs coupled with the competitive prices have given us a
distinct reputation in the entire market. The production procedures are
operated by a team of technicians who have long working experience in their
respective fields. With the flexible packaging industry growing at a tremendous
speed, the need of highly sophisticated and maintenance free printing and
converting machines have become mandatory. They, therefore, incorporate
technical modifications in order to provide good performances and prolific
results.
They are the manufacturer and exporter of the following product range:
§
Rotogravure Printing Machine up to 10 colors
§
Rotogravure Printing Machine with online
lamination
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Laminating/Coating Machine
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Heavy Duty Drum Type Slitter Rewinder Machine
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Light Duty Drum Type Slitter Rewinder Machine
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Light Duty Shaft Type Slitter Rewinder Machine
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Core Cutting Machine
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Winding/Unwinding Machine
Objective
Customer satisfaction is prime objective and takes all the essential measures
to achieve it at the highest scale. They pay immediate attention to give prompt
service to customers both during and after the installation of the machinery.
Their management is committed to provide superior quality in all the phases of
operation in order to retain our respectable position in the market.
Potential
With quality as our first priority, they dedicate us to total quality
management. The manufacturing process is scrutinized at every level and special
emphasis is laid on detecting the minor faults. They strive to exceed the
expectation of our customers by bringing improvements and innovations in the
design of the products. This has been possible due to strong infrastructure
with state-of-the-art equipments installed in our production house and a fully
facilitated quality check unit. They constantly upgrade existing machines and
purchase the new ones for the consistent delivery of quality products. They have
a strong and an experienced team who has the ability to understand the
requirements of our customers and design products in exact accordance.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.40.67 |
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1 |
Rs.82.12 |
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Euro |
1 |
Rs.55.60 |
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 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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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 |
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39 |
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. |
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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