MIRA
INFORM REPORT
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Report Date : |
16.08.2007 |
IDENTIFICATION DETAILS
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Name : |
TRIVENI MACHINE TOOLS |
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Formerly Known As : |
PARVATHA INDUSTRIES |
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Registered Office : |
8A, Parvatha Industrial Complex, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1987 |
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Legal Form : |
Partnership Concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturer and Exporter of all types of Wrapping Machines and Hydrofracturing Units. |
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 : |
Usually Correct |
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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 commitments.
Nothing adverse reported. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office/ Factory : |
8A, Parvatha Industrial Complex, |
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Tel. No.: |
91-80-28384732 |
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Fax No.: |
91-80-57654575 |
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Website: |
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Area : |
4000 Sq. fts. |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. P. Ganesh |
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Designation : |
Partner |
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Mobile No.: |
91-94448366544 |
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Date of Birth/Age : |
42 years |
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Qualification : |
B. E. (Mech) |
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Experience : |
15 years |
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Name : |
Mr. Gomagan |
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Designation : |
Partner |
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Date of Birth/Age : |
36 years |
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Qualification : |
DME |
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Experience : |
6 years |
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Name : |
Mr. Tirumagan |
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Designation : |
Partner |
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Date of Birth/Age : |
34 years |
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Qualification : |
DME |
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Experience : |
5 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of all types of Wrapping Machines and Hydrofracturing Units. |
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Exports to: |
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Terms : |
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Selling : |
Advance, On Delivery Payment |
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Purchasing : |
Credit (30 days) |
GENERAL INFORMATION
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Suppliers : |
v
J K H Enterprises ( v
United Bearings ( v
Ambica Trading Company ( |
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Customers : |
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No. of Employees : |
25 (Production/Technical: 20; Other : 5) |
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Bankers : |
Canara Bank Vidyaranyapuram, |
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Facilities : |
Mostly operating on own funds. |
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- |
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Banking
Relations : |
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Auditors : |
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Name : |
Industrial Business Services Chartered Accountants |
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Address : |
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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 millions |
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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3.500 |
3.000 |
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Profit/Loss for the year |
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Indicated as 15% |
Indicated as 15% |
Average Value of Inventories at any given time: Rs. 1.500 millions
LOCAL AGENCY FURTHER INFORMATION
History
The subject was established as “Parvatha Industries” in 1987, Name changed
to “Triveni Machine Tools” with effect from 2003.
Business
Subject is the manufacturer of special purpose machines. Currently
focusing on Advanced, Automatic and customized Wrapping System.
Application Areas include
Processed food
products
Healthcare
Products
Cosmetics and
Toiletries
Drugs and Pharma Products
Audio / Video
Cassettes
Tobacco Products
Website details attached:
Profile
Subject established in the year 1978, is a leading
manufacturer and exporter of all types of Wrapping Machines and Hydrofracturing Units. Based in the
Products
At subject they
specialize in manufacturing premium quality Hydrofracturing Units and Wrapping Machines. The Wrapping Machines manufactured
at their unit have a distinct advantage over others in the sense that
both the packet moving path as well as other guards of their Wrapping Machines
is coated with Stainless Steel Material.
Hydrofracturing
Hydrofracturing is a process by which dry low yielding bore
well can be rejuvenated by pressurizing water into it which then opens out and
cleans out the non water producing veins, thereby opening a clear path for
water to flow into the well from outlying under water resources in the rock
formations. Fractures in the bore wells can be identified by down hole Camera.
Dry or relatively dry wells maybe induced to produce water if water exists in
the area around the bore well and it is accessed by Hydrofracturing. This is
accomplished by setting a tool called packer into the well. This packer seals
the well at a desired depth and allows water to be pumped through a pipe
passing through the packer. The water is then pumped through a pipe located at
ground level and a pressure upto 3000 PSI is developed in the well thus forcing
water into existing fractures at a rate faster than the fracture can accept it
thereby opening, clearing and extending the fracture paths by which overall
yield is improved.
Clients
Satisfied Customers List
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I.T.C. LIMITED |
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2. H.D.C.F. ( |
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3. GODFREY PHILLIPS INDIA LIMITED. |
MUMBAI |
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4. G.T.C. |
MUMBAI |
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5. NEPAL TOBACCO CO., |
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6. N. RANGA RAO and SONGS |
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7. GOPALA KRISHNA and SONS |
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8. SHUBHAM INDUSTRIES |
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9. PERFECT BLENDS ( |
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10. UNITED TABACCO CO LIMITED., |
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11. TOBACCO (BD) LIMITED., |
BANGALADESH |
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12. MALHOTRA SHAVING PRODUCTS |
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13. MEDREICH STERILAB |
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14. GLEN MARK LABORATORIES PRIVATE.
LIMITED. |
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15. HEINZ |
MUMBAI (Glucon - D) |
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16. KANIN INDIA PRIVATE. LIMITED. |
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17. LASER SHAVING PRODUCTS LIMITED. |
HIMACHAL PRADESH (Blades) |
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18. CANADIAN LIGHTS |
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19. HALIDON MARKETING |
CHENNAI (Dates Packets) |
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20. THE BELL MATCH COMPANY (BUNDLE
WRAPPING MACHINE) |
SIVAKASI (Match box Packets) |
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21. MODERN MATCH FACTORY (BUNDLE WRAPPING
MACHINE) |
SIVAKASI (Match box |
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. 41.09 |
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1 |
Rs. 81.46 |
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Euro |
1 |
Rs. 55.16 |
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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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 |
NO |
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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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43 |
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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