MIRA
INFORM REPORT
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Report Date : |
24.08.2007 |
IDENTIFICATION DETAILS
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Name : |
ACCUMECH CNC COMPONENTS PRIVATE LIMITED |
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Registered Office : |
32, Shanta Industrial Estate, I |
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Country : |
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Date of Incorporation : |
05.03.2007 |
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Com. Reg. No.: |
168364 |
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CIN No.: [Company
Identification No.] |
U51504MH2007PTC168364 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Precision components, rings, flanges,
valve components, shafts, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
-- |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and yet to establish itself. The company
expects to register a business of Rs. 10.000 millions during the first year of
its operation. No further details could be available. The company can be considered for small business dealings on safe and
secured trade terms and conditions. |
LOCATIONS
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Registered Office : |
32, Shanta Industrial Estate, I |
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Tel. No.: |
91-22-26868181 |
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Mobile No.: |
91-9821015176 |
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Fax No.: |
91-22-26868181 |
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E-Mail : |
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Website : |
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Area : |
600 sq. fts. |
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Location : |
Rented |
DIRECTORS
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Name : |
Mr. Firoz Ali |
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Designation : |
Director |
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Date of Birth/Age : |
40 Years |
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Qualification : |
Diploma Mech. Engg. |
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Name : |
Mrs. Shabnam Ali |
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Designation : |
Director |
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Date of Birth/Age : |
26 Years |
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Qualification : |
Graduate B Com |
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Name : |
Mr. Rizwan Ali |
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Designation : |
Director |
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Date of Birth/Age : |
36 Years |
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Qualification : |
B E Mechanical |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Precision components, rings, flanges,
valve components, shafts, etc. |
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Products : |
Ø
CNC Turned Components Ø
Rings Ø
Flanges
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Valve Components Ø
Shafts |
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Exports : |
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Products : |
Negotiating |
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Terms : |
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Selling : |
L/C / Cash |
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Purchasing : |
L/C / Cash / Credit |
GENERAL INFORMATION
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Customers : |
Ø
End Users Ø
Reliance Ø
Tata Ø
Godrej Ø
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Microsoft Ø
Raymond Ø
Siemens Ø
Pantaloon Ø
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MSEB Ø
ONGC |
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No. of Employees : |
6 |
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Bankers : |
Bank of |
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Facilities : |
Term Loan |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Hingora and Company Chartered Accountants |
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Tel. No.: |
91-22-26799425 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity shares |
Rs. 10/- each |
Rs. 0.100 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity shares |
Rs. 10/- each |
Rs. 0.100 million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
Expected Sales for March 2008 : Around Rs. 10.000 Millions
LOCAL AGENCY FURTHER INFORMATION
As Per Web
Details:
Their in-depth expertise in engineering superior quality CNC turned components has helped them earn a substantial market base in a very short span of time
About Them
Impeccable quality, timely delivery and capability to feed bulk demand
are the hallmarks of every premier business corporation. These factors are the trademark
at subject The reputed manufacturer and exporter offers high quality precision
CNC turned components, rings, flanges, valve components, shafts, etc. They
are the part of a group of companies engaged in diversified businesses such as
manufacturing of hypermarket shelving systems, home appliances and electronics
& electrical equipments for power plants. Their group is having the
operations across the country with over 200 employees and a turnover of about
Rs. 250 million.
They are well supported by innovative technologies and a dynamic team of
well trained professionals who fit perfectly in their equation of manufacturing
world class items. Their superior quality and client oriented approaches has
helped them earn the trust of many corporate houses like Reliance, Tata,
Godrej, Hindustan Lever, Microsoft, Raymond, Siemens, to name a few.
Quality Assurance
Superior quality is maintained by following stringent quality control
measures right from the selection of raw materials to the shipment of finished
products. The production is carried out by employing the finest quality of MS,
SS, Titanium, Aluminium, Zinc, Copper and other raw materials which are sourced
from the well known agents of the market. Their capability to ensure timely
delivery of the products, irrespective of the order size provides them an
additional edge over the other players in their domain. They are committed to
deliver the best, thus leaving no room for customer grievances.
Client Satisfaction
subject is devoted to set new milestones in client satisfaction. Their
sole business motto is to deliver a range of the best products in the world at
the most affordable prices, thus creating a win-win situation for their
clients. They are known for their client oriented approaches in the entire
business community.
Infrastructure
subject is the perfect blend of innovative technologies and excellent
human resources. They possess latest standardized Lathe Machines from
Why Them?
They are popular in the market owing to few of the following
factors:
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A wide range of superlative quality products
offered at affordable prices
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Client oriented approaches
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Timely delivery
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Transparent trade practices
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A robust infrastructure armored with world class
machines and dynamic professionals to deliver unmatched products
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Reputation based on quality, reliability, integrity,
and complete understanding of market dynamics.
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 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.40.86 |
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1 |
Rs.81.62 |
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Euro |
1 |
Rs.55.38 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
-- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
1 |
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--CREDIT LINES |
1~10 |
1 |
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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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13 |
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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