MIRA
INFORM REPORT
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Report Date : |
23.08.2007 |
IDENTIFICATION DETAILS
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Name : |
DYNAMIC HYDROFAB |
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Registered Office : |
B – 195, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1997 |
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IEC No.: |
050266407 dt 21.01.2003 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer, Importer and Exporter of Hydrolic Cylenders, Presses and
Power Packs |
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 32000 |
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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 and reputed concern having satisfactory track.
Trade relations are fair. Payments are usually correct and as per
commitments. The concern can be considered good for normal business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
B – 195, |
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Tel. No.: |
91-11-65161841 / 27890388 |
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Mobile No.: |
91-9350184284 |
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Fax No.: |
91-11-27890388 |
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E-Mail : |
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Website : |
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Area : |
525sq.mts. |
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Location : |
Owned |
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SOLE PROPRIETOR
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Name : |
Mr. P S Bajwa |
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Designation : |
Chief Executive Officer |
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Date of Birth/Age : |
35 years |
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Qualification : |
Graduate |
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Experience : |
12 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Hydrolic Cylenders, Presses and
Power Packs |
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Products : |
˛
Industrial ˛
Earth Moving ˛
Tipping cylinders ˛
Automobile ˛
Hydraulic Cylinders ˛
Power Packs ˛
Hydraulic Presses |
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Exports : |
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Products : |
15% |
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Countries : |
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Imports : |
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Products : |
20% Pre Honed Tube of st 52 materials, en 8d hard chrome plated shafts
and PU seals |
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Countries : |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
PRODUCTION STATUS
Capacity to increase production by: 25%
GENERAL INFORMATION
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Suppliers : |
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DLI Seals, ˛
Course Group, |
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Customers : |
Automobiles, Earthmoving, Railways, Power Plants, Steels Plants –
Industries |
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No. of Employees : |
25 |
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Bankers : |
Canara Bank Chankya Puri, |
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Banking
Relations : |
Satisfactory |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.8.000 millions |
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Borrowed : |
-- |
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Total : |
Rs.8.000 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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50.000 |
45.000 |
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Profit/Loss for the year |
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12% |
12% |
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Expected Sales (2007-08) : Rs.60.000 millions
LOCAL AGENCY FURTHER INFORMATION
Website Details
Attached
Company Details
Subject established in 1997, a proprietorship firm owned by
P S Bajwa having its office and works at B 195, Libaspur Road Samaipur Delhi
110042 is a reputed organization believes in quality service and products.
Subject has specialized in making Hydraulic cylinders for more than 7 years.
From the beginning, quality has been their main goal. Now they are one of the
most professional Manufacturers & Exporters in this field. Their products
include Heavy-duty Double action Hydraulic Cylinder (Industrial type),
Hydraulic Cylinder (Automobile), multistage / telescopic Double Action
Hydraulic cylinder, Truck tipping / Car carrier System, AC/DC Power Pack. Firm
starts with a small budget, but now their turn over is approximately 25.000
millions (US$ 555550) during these years endeavors by developing their profile,
they are not only successful in the Indian market, but also enjoy strong sales and
a good reputation in abroad (
Providing high efficiency and high output, top quality and competitive
price is still their consistent aim to customer. They also supply their product
to meet your production requirement. Your right choice and satisfaction are
always their succession. Production capacity of hydraulic cylinder in all size
and design is presently 300 nos per month. Subject supplying these cylinders to
OEMs and some direct customers
Subject started manufacturing tipping cylinders for dumper in 2001 and
successfully supplying to OEM. Their range of tipping cylinder is from 5 ton
payload to 50 tons payload for under body and front end tipper. They are 4th
in the queue manufacturing front end tipping cylinders in
Infrastructure is the
mainstay
Subject have well qualifies staff. They have a state of art production
facility, equipped with technically advanced machines and equipment. The machines
are regularly serviced and maintained, to ensure efficient and flawless
production. The machines are manned by personnel who are well trained and
experienced in their field of activity
Motto
Customer satisfaction and quality products are the main business
approach of the company. Quality without compromise is company's motto. Company
highly qualified and experienced team of R&D engaged continues research,
development and upgradation of products using latest technology. Its products
have to pass through a series of strict quality control test during
manufacturing. Their specialties /quality manufacturing of hydraulic cylinders
Cylinder are made as per ISO standard Directly Imported pre honed tube of ST 52
material, EN8D hard chrome plated shafts and imported PU seals are used. All
cylinders are tested in factory before dispatch as per ISO
List of
Machineries
Type
of Machine Make
qty
1. Lathe
Machine 16 feet Kirloskar
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2. Lathe
Machine 16 feet Preet
Lathe 1
3. Lathe
Machine 12 feet Kirloskar
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4. Lathe
Machine 8 feet H.M.T.
1
5. Lathe
machine 8 feet Preet
Lathe 1
6. Welding
Rectifier 400amp
7. MIG
Welding Machine 400A L&T
1
8. Inverter
based welding Techno
Crate (Mumbai) 1
9. Band Saw
8” Laxon
2
10. Honing
Machine 2000mm Self
made 1
11. Honing
Machine 1200mm
(Accuracy 0.02mm and surface finish 0.02ra) Self
made (improved model) 1
12. Cylinder Testing
Ridge 2000 stroke capacity Self 1
13. Precision measuring tools
miscellaneous
Three-bore gauges capacity up to 1000 mm in length
Micrometers, verniers and other testing Instruments
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.41.01 |
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1 |
Rs.81.39 |
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Euro |
1 |
Rs.55.30 |
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 |
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 |
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 |
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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