MIRA
INFORM REPORT
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Report Date : |
23.08.2007 |
IDENTIFICATION DETAILS
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Name : |
SHIVAM CAST
PRODUCTS |
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Registered Office : |
139, GIDC, Vithal Udyog Nagar, Vallabh Vidhyanagar, Anand
- 388 121, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2000 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and
Exporters of Raw & Machined Ferrous and Non Ferrous Castings and Tantalum,
Niobium 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 40,000 |
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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 concern having satisfactory track. Trade relations are fair. Financial
position is satisfactory. Payments are usually correct and as per
commitments. The concern can
be considered normal for business dealings at usual trade terms and
conditions. Input for this
report was parted by Mr. Dhimant Patel, Proprietor of the concern. |
LOCATIONS
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Registered Office : |
139, GIDC, Vithal Udyog Nagar, Vallabh Vidhyanagar, Anand
- 388 121, |
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Tel. No.: |
91-2692-231195 / 232299 |
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Mobile No.: |
91-9824316679 |
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Fax No.: |
91-2692-231195/236454 |
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E-Mail : |
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Website : |
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Area : |
Admg.Apx.1,500.Sq.Ft. |
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Location : |
Owned |
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Works / Administrative Office : |
139, GIDC, Vithal Udyog Nagar, Vallabh Vidhyanagar, Anand
- 388 121, |
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Tel. No.: |
91-2692-231195 |
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91-9824316679 / 2692395135 |
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Fax No.: |
91-2692-231195 / 236454 |
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E-Mail : |
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Website: |
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Area : |
25,000.Sq.Ft. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Dhimant M.
Patel |
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Designation : |
Proprietor |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporters of Raw & Machined Ferrous
and Non Ferrous Castings and Tantalum, Niobium Products |
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Products : |
Ø
Manufacturer
& Exporter Of Valves Ø
Bellows, Expansion
Joints & Corrugated Hoses Ø
Bellows &
Expansion Joints & Corrugated Hoses |
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Exports : |
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Countries : |
Europe, |
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Imports : |
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Products : |
Capital Goods, Components and Spares |
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Countries : |
Europe, |
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Terms : |
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Selling : |
L/C, Cash, Credit ( 60 - Days ) |
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Purchasing : |
Against L/C, DA |
GENERAL INFORMATION
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No. of Employees : |
35 |
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Bankers : |
Vallabh Vidyanagar Branch |
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Facilities : |
Credit Limits : Rs. 5.000 millions |
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Banking Relations
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Satisfactory |
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Memberships : |
VUIA |
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 10.000 millions |
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Borrowed : |
--- |
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Total : |
Rs.10.000 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
60.000 |
50.000 |
40.000 |
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Gross Profit |
NA |
5.000 |
4.000 |
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Net Profit |
NA |
0.800 |
0.600 |
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Export Value |
NA |
20.000 |
NA |
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Import Value |
NA |
USD 25000 |
NA |
Average Stock maintained:
Rs.5.000 millions per month.
Expected Sales (2007-08) : Rs. 80.000 millions
LOCAL AGENCY FURTHER INFORMATION
HISTORY
Established as a Proprietary Concern in the year, 2000
at the above address in Vithal Udyognagar, at Anand, in
ACTIVITY
Cast Iron Casting, Casting Product, Expansion Bellows, Non-Ferrous Metal, Precision Machine, Stainless Steel, Steel Castings
Manufacturers of
Bellows / Expansion Joints & Corrugated Hoses, Castings, etc.
Manufacturer of
different valves such as ball valves, plug valves, butterfly valves, diaphragm
valves, flush bottom valves, check valves, spargers & pipe fittings, sight
glasses, ptfe bellow, diaphragm for rings, valve seats & such components In
Different LINED Material.
Cast Iron, S.G. Iron, Cast Steel, Stainless Steel, HRCS,
Alloy 20, Ni-Resist, Ni-Hard, Hastelloy B & C, Metallic And Non-Metallic
Expansion Bellows
CEO, and Proprietor,
Mr. DHIMANT M. PATEL -is well experienced and financially sound, enjoys better
credits and reputation in the market.
Subject seems to be
progressive.
Profile
They are a leading manufacturer and exporter dealing into various Castings,
Machining and Bellows. Known as Shivam Cast Products, they are basically
located in Anand. Cast Iron, Ductile Iron, Cast Steel, Stainless Steel,
Non-Ferrous Metals (Aluminum, Phosphorus Bronze, Brass, Gunmetal), Heat
Resistance Cast Steel, Ni-Resist & Ni-Hard and Hastelloy C & B – these
are their main products. In addition, they also supply Tantalum & Niobium
rods, plates, sheets, wire and coil. Their company is well reputed as a quality
brand in the market. With most updated technologies, they are providing best
quality to their clients at best reasonable prices.
Products
·
Castings – Cast Iron, S.G. Iron, Cast Steel, SS
304, SS 316, HRCS, Alloy 20, Ni-Resist, Ni-Hard, Hastelloy B.
·
Machining – Workshop for precision machining of
castings.
- Bellows – Metallic, Multiply Expansion Bellows/Joints and Hose Assemblies in all grades of Stainless Steel and Super Alloys
.
Key Features
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Premium quality.
·
Separate customer service department.
·
Latest production facilities.
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Economical production.
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Competitive pricing.
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Proper quality inspections.
·
Minimum casting scrap and upgrading yield.
Being a reputed name in the industry, they are extremely
concerned about their quality parameters and customer's satisfaction. For that,
they regularly collect feedbacks from their clients and pay utmost attention to
their valuable inquiries and regularly evaluate their client’s needs and
requirements.
Their ultimate aim is to understand their client's present
and future expectations and needs, and fulfill them with successful attempts
and appreciated efforts.
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 |
|
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 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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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52 |
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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