MIRA
INFORM REPORT
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Report Date : |
22.08.2007 |
IDENTIFICATION DETAILS
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Name : |
HIND TOOLS |
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Registered Office : |
G – 4, Industrial Area, MIDC Ambad, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1988 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
NSKH1075E |
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PAN No.: [Permanent
Account No.] |
AABFH8890G |
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Legal Form : |
Partnership Concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturers and Exporters of Press Tools, Press Components, Jigs,
Fixtures, Dies, Moulds and Sub-assemblies of Auto and Electrical Products. |
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 : |
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 dealing at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
G – 4, Industrial Area, MIDC Ambad, |
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Tel. No.: |
91-253-6601357/ 2384115/ 6611853/ 855 |
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Mobile No.: |
91-9225119656 |
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Fax No.: |
91-253-2380176 |
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E-Mail : |
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Website : |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. J H Singh |
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Designation : |
Partner |
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Date of Birth/Age : |
60 years |
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Qualification |
Under Graduate |
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Experience : |
Around 35 years |
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Name : |
Mr. R D Singh |
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Designation : |
Partner |
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Date of Birth/Age : |
48 years |
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Qualification : |
Under Graduate |
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Experience : |
Around 25 years |
KEY EXECUTIVES
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Name : |
Mr. Vivek Singh |
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Designation : |
Chief Executive Officer |
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Mobile No.: |
91-9225119656 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Press Tools, Press Components, Jigs,
Fixtures, Dies, Moulds and Sub-assemblies of Auto and Electrical Products. |
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Exports : |
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Products : |
v
Press Tools v
Press Components v
Jigs v
Fixtures v
Dies v
Moulds v
Sub-assemblies of Auto v
Electrical Products |
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Countries : |
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Imports : |
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Products : |
Machinery |
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Countries : |
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Terms : |
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Selling : |
Credit (60 days – 90 days) |
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Purchasing : |
Credit (60 days – 90 days) |
GENERAL INFORMATION
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Customers : |
v Schneider Electric India Limited. v Asea Brown Boveri Limited. v Siemens India Limited. v Crompton Greaves India Limited. v MSS India Limited. v VIP Industries v Samsonite India Limited. v Munjal Auto Industries Limited.(Hero Honda group) v Blow Plast Ergonomics Limited v Hema Engg. Limited.(For TVS Motors) v Technico Industries Limited. (For Maruti Suzuki) v Haldex Midland Air Break Systems ( |
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No. of Employees : |
20 (Office: 2; Factory: 18) |
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Bankers : |
Central Bank of |
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Facilities : |
The concern reported to enjoy some facilities from its banker |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
UMA Enterprises Line of Business: Manufacturers of different tools. |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.500 millions |
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Borrowed : |
- |
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Total : |
Rs. 1.500 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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18.000 |
15.000 |
Expected Sales (2007-08): Rs. 20.000 millions
LOCAL AGENCY FURTHER INFORMATION
Website details attached:
Subject, a vision of Mr. J. H. Singh, started in the
year 1988 as a partnership firm with only 4 workers .Ambition, coupled with
sincerity and dedication, the company grew slowly and steadily over the years
and today stands as a reputed and well known organization in its field.
They are situated at Nashik about 170 Km. North east of Mumbai (the
financial capital of
They are a manufacturing company with complete in-house design and built-in
capabilities for manufacturing Press Tools, Press Components, Jigs, Fixtures,
Dies, Moulds and Sub-assemblies of Auto & Electrical Products. Except for
the tool room activities which are undertaken at UMA Enterprises, their sister
concern, all the other manufacturing processes are carried out at their own
premises.
Management
Mr. Jai Hind
Singh (Founder)
A hardworking enterprising entrepreneur who dared to dream. His dream
today stands as a concrete reality in the shapes of Hind Tools and Uma
Enterprises. With a strong foundation of having spent 30 years in the tool room
at various organizations, he is the guiding force behind the company's
continuous and sincere endeavors. An expert at tools, he bears no inhibitions
in soiling hands at the machines and is personally actively involved in the
tool room.
Vivek Singh (Chief
Executive Officer)
A mechanical engineer, he joined the organization in the year 1996 and
has since then been responsible for undertaking large scale modernization
programmes. With sound technical know-how and crisp management techniques, he
has brought about a complete face lift in the company. He today heads a team of
dedicated staff members who constantly strive for better quality and enhanced
customer satisfaction
Bhumika Singh
(Management Representative)
A fresh entrant in the organization, her responsibility domain stretches
to include ensuring that the established Quality Systems is implemented and
maintained in accordance with the International standards and reporting on the
performance of the Quality system to the top management for review and as a
basis for improvement of the System. An enthusiastic worker, she sees to the
proper functioning of the entire system smoothly and without hiccups. In
addition to this, she also looks after the export division of the company.
Quality Systems
They have adopted a Total Quality Management (TQM) approach, centered on quality, based on the participation of all the members and aiming at long term success through customer satisfaction and benefits to all members of the organization and to their clients.
Quality at their company starts with their design review meetings where the internal quality requirements are discussed. Process flows are developed and quality control plans are established. Every production operation is evaluated for the optimum level of efficiency to promote continuous improvement. The analytical approach assists their efforts to lower costs, increase efficiency and improve quality to their customers as they try and compete in a global market.
Quality
Policy & Quality Objectives
Quality
Certification
Infrastructure
They bring to you world class products with the help of the following infrastructure facilities at their disposal:-
Their expert team at Hind Tools keeps a keen watch over the latest machines in the market and they keep updating their infrastructure facilities as and when required. Apart from preventive maintenance of the machines at regular schedules, they also carryout Machine Capability Tests at routine intervals to insure consistency in production.
Accolades
They have achieved many milestones since their inception in the year
1988. Their customers have also recognized their achievements with various
Quality awards and Certification from time to time, including The Award of
Excellence as a Vendor by Crompton Greaves India Limited., Nashik,
consecutively for the years 1988 and 1999.
Associates
Expansion in their work circumference came
about in the year 1994 when their sister concern, UMA ENTERPRISES, became
operational. At the time of its inception, its major chunk of work comprised of
job work activities but within a year's time its work profile changed into a
full fledged Tool room.
Uma Enterprise took upon itself, the extremely challenging responsibility of
Design, Development and manufacturing of a large and diverse variety of Tools.
This sister concern of theirs has successfully manufactured tools for such
diverse industries as Electrical, Automobile, Furniture, Aeronautical, Luggage
and various Engineering industries, to name a few. At Uma Enterprise, they make
the following different kinds of tools:-
- Progressive
Tools
- Progressive
Combination Blanking Tools
- Compound
Tools
- Deep Drawing
Tools
- Forming Tools
- Bending Tools
- Plastic
Injection Moulds
Their team at Uma enterprises, guided and encouraged by Mr. J.H. Singh
takes pride in each of its creations, which have become a benchmark of
precision, and is currently playing a pivotal role in further augmenting their
highly Quality Conscious image.
Product and
Services
The efficiency and dedication to quality of their team of staff and workers
at the subject clearly manifests itself in their world-class products. Each of
their outgoing products is a benchmark of precision and efficiency and a result
of hours of sincere hard work put in by their team.
It is their policy to put every product through a number of checks and tests
before it is finally dispatched, to ensure 100% zero defect final products.
Their range of Product and Services include:-
- Design and Manufacturing of Press Tools, Jigs and Fixtures
- Manufacturing of Press Components
- Manufacturing of Sub-assemblies
Clientele
They serve a wide variety of customers who manufacture industrial and
consumer products in diverse industries. Well established names of the industry
prefer to work with them because of their record of consistently delivering
High Quality Products, on time and at a competitive price.
Their customers have expressed their satisfaction in working with them.
Their policy of obtaining feedback from their customers from time to time and
their open attitude of listening to their complaints and grievances has put them
on the "Most-Preferred" list of most of their customers.
It is their policy to keep in touch with their customers, constantly, and
strive to meet their expectations.
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. 41.06 |
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1 |
Rs. 81.41 |
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Euro |
1 |
Rs. 55.34 |
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 |
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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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. |
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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