MIRA INFORM REPORT

 

 

Report Date :

27.08.2007

 

IDENTIFICATION DETAILS

 

Name :

IGP ENGINEERS PRIVATE LIMITED

 

 

Registered Office :

# 79(Old 29/9), Valmiki Street, Thiruvanmiyur, Chennai 600041, Tamilnadu

 

 

Country :

India

 

 

Financials (as on) :

31.03.2006

 

 

Date of Incorporation :

21.06.1979

 

 

Com. Reg. No.:

007868

 

 

CIN No.:

[Company Identification No.]

U27200TN1979PTC007868

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

CHE100104G

 

 

PAN No.:

[Permanent Account No.]

AAAC10920Q

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Metallic and Non – Metallic Industrial Gaskets and Gasket Components.

 

 

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Aa

 

 

 

 

 

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

USD 967928

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well established company having fine track. Financial position is good. Payments are correct and as per commitments.

 

The company can be considered good for any normal business dealings. It can be regarded as a promising business partner in a medium to long run. Mr. Y. Hariharan (9840078243) update the report.

 

 

LOCATIONS

 

Registered Office :

# 79(Old 29/9), Valmiki Street, Thiruvanmiyur, Chennai 600041, Tamilnadu, India

Tel. No.:

91-44-24420608

Mobile No :

91-9840078243

Fax No.:

91-44-24405152

E-Mail :

igp@md3.vsnl.net.in igp@vsnl.com

Website :

http://www.igp-group.com

Area :

3000 sq. ft.

Location :

Rented

 

 

Corporate Office :

134, Angappa Naicken Street Chennai 600001, India

Tel. No.:

91-44-25341547, 25340655

Fax No.:

91-44-25340655

Website :

http://www.insapfelx.com

 

 

Factory 1 :

No. 277/2, Old Mahabalipuram Road, Kottivakkam Chennai – 600041, Tamilnadu, India

Tel. No.:

91-44-24483508

Fax No.:

91-44-24483663

E-Mail :

igp@vsnl.com

Area :

127154 sq. ft.

Location :

Owned

 

 

Factory 2 :

No. 85, Old Mahabalipuram Road, Sholinganallur, Chennai – 600119, Tamilnadu, India

Tel. No.:

91-44-24501224

Fax No.:

91-44-24501731

E-Mail :

igp@vsnl.com

Area :

8400 sq. ft.

Location :

Rented

 

 

Factory 3 :

No. 2/127, Elim Nagar, Perungudi, Chennai – 600096, Tamilnadu, India

Tel. No.:

91-44-2496043

Fax No.:

91-44-24962356

E-Mail :

igp@vsnl.com

Area :

18000 sq. ft.

Location :

Rented

 

DIRECTORS

 

Name :

Mr. V. Krishnaswamy

Designation :

Director

Address :

5, South Bank – II, Street, Mandavelipakkam, Chennai – 600028

Date of Birth/Age :

15.09.1928

Qualification :

S. S. L. C.

Experience :

59 Years

Date of Appointment :

01.04.1994

 

 

Name :

Mr. Achutha Krishnamurti

Designation :

Director

Address :

No. 9, 13th Cross street, Indira Nagar, Adyar, Chennai – 600020

Date of Birth/Age :

02.11.1937

Qualification :

L.M.E.

Experience :

52 Years

Date of Appointment :

01.04.1994

 

 

Name :

Mr. V. Balesubramanian

Designation :

Director

Address :

17 A, Third Seaward Road, Valmiki Street, Thiruvanmiyur, Chennai – 600041

Date of Birth/Age :

10.07.1947

Qualification :

B. Sc.

Experience :

35 Years

Date of Appointment :

01.04.1994

 

 

Name :

Mr. K. Shyamsunder

Designation :

Director

Address :

New no. 5, Old No. 3, South Bank, II Street, Mandavelipakkam, Chennai – 400028

Date of Birth/Age :

24.10.1952

Qualification :

B.E.

Experience :

33 years

Date of Appointment :

01.04.1994

 

 

Name :

Mr. Ganean

Designation :

Director

Address :

No. 11, 13th Cross Street, Indira Nagar, Adyar, Chennai – 600020

Date of Birth/Age :

27.12.1936

Qualification :

L.M.E.

Experience :

46 years

Date of Appointment :

01.04.1994

 

 

Name :

Mr. V. Lakshmana

Designation :

Director

Address :

New No. 25, Old No. 11-A, Sarangapani Street, T Nagar, Chennai – 600017

Date of Birth/Age :

08.07.1939

Qualification :

S. S. L. C.

Experience :

47 years

Date of Appointment :

21.06.1979

 

 

Name :

Mrs. Sulochana Krishnswamy

Designation :

Director

Address :

Old No. 3, New 5, South Bank – II, Street, Mandavelipakkam, Chennai – 600028

Date of Birth/Age :

11.11.1931

Qualification :

Diploma in Account

Experience :

54 years

Date of Appointment :

01.02.1991

 

 

Name :

Mr. N. Srinivasan

Designation :

Director

Address :

New No. 290, Old No. 263, T T K Road, Alwarpet, Chennai – 600018

Date of Birth/Age :

24.09.1963

Qualification :

B. Com.

Experience :

22 years

Date of Appointment :

01.02.1991

 

 

Name :

Mr. G Uma Magesh

Designation :

Director

Address :

No. 11, 13th Cross Street, Indira Nagar, Adyar, Chennai – 600020

Date of Birth/Age :

21.09.1965

Qualification :

B. E. (Mechanical)

Experience :

18 years

Date of Appointment :

01.04.1994

 

KEY EXECUTIVE

 

Name :

Mr. R Sucharithra

Designation :

Company Secretary

Address :

28 / 59 Vivekananda Street, Gandhi ANgar, Sligramam, Chennai – 600093, Tamilnadu

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

Names of Shareholders

 

No. of Shares

Mr. V. Krishnaswamy

 

6390

Mrs. Saraswathi Narayanswamy

 

6390

Mr. V. Lakshmana

 

2108

Mr. Ganean

 

4215

Mr. R. Natraj

 

1051

Mrs. Shobana Jagdeesh

 

528

Mrs. R. Sumathi

 

528

Ms. Pathakudi Tading Company Private Limited

 

75

Ms. Karaikal Marketing Private Limited

 

75

Total

 

21360

Category

 

Percentage of Holding

Directors or Relatives or Directors

 

99.00

Bodies corporate

 

1.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Metallic and Non-metallic industrial gaskets and gasket components.  

 

 

Brand Names :

“SPIRAGER”

 

 

Exports :

 

Countries :

USA, UK, Brazil, Singapore, Australia and Middle East Countries

 

 

Terms :

 

Selling :

L/C

 

 

Purchasing :

L/C

 

 

GENERAL INFORMATION

 

Suppliers :

˛      Alpha Gama Technocrats

˛      Baskara Industries

˛      Control Scientific Works private Limited

˛      Dancal India Private Limited

˛      Fluorocarbon Processing Industries

˛      MSN Engineering Enterprises

˛      Poorani Nesan Industries

˛      Shri Kamalambiga Engineers Private Limited

 

 

Customers :

End Users

 

 

No. of Employees :

456

 

 

Bankers :

UCO Bank

MID Corporate Branch, 328 Tambu Chety Street, 3rd Floor, Parrys, Chennai – 600001, Tamilnadu

 

 

 

 

 

Banking Relations :

Good

 

 

Auditors :

 

Name :

D. Rangaswamy and Company

Chartered Accountants 

Address :

RC Towers, 2nd Floor, Josier Street, Nunganabakkam, Chennai – 600034

Tel. No.:

91-44-28215168

 

 

Associates/Subsidiaries :

Name of the company

Arudra Engineers Private Limited, Chennai

Private Limited Liability Company

Line of business

Manufacture of conveyor pulleys

Testing quality of water, effluents

Fuels and tube and assessment studies of residual life of boilers, turbines, pipelines and rotary machines

 

 

Name of the company

Cori Engineers Private Limited Liability Company 

Private Limited Liability Company

Line of business

Manufacture of rubber Expansion joints / bellows

Andvibration mounts, Rubber moulded

Components, rubber, lagging and rubber linings

 

 

Name of the company

Insap Engineering Private Limited, Chennai

Private Limited Liability Company 

Line of business

Manufacture and Export of hydraulic fittings. Hose assemblies, hydraulics and pneumatic

 

 

Name of the company

Aruchem Chennai

Partnership 

Line of business

Cleaning of high pressure boilers

 

 

Name of the company

Lonestar Industries Chennai

Partnership

Line of business

Manufacture of metal expansion joints / bellow

 

 

Name of the company

Vaiqua Products Chennai

Line of business

Manufacture of plastic injection moulded components

 

 

 

CAPITAL STRUCTURE

 

Authorised Capital :

No. of Shares

Type

Value

Amount

40000

Equity Shares

Rs.100/- each

Rs.4.000 millions

35000

Preference Shares

Rs.100/- each

Rs.3.500 millions

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

21360

Equity Shares

Rs.10/- each

Rs.0.213 million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2006

31.03.2005

31.03.2004

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

2.136

2.136

2.136

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

239.846

178.673

133.902

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

241.982

180.809

136.038

LOAN FUNDS

 

 

 

1] Secured Loans

160.957

136.003

88.189

2] Unsecured Loans

22.394

22.194

15.884

TOTAL BORROWING

183.351

158.197

104.073

DEFERRED TAX LIABILITIES

0.000

0.205

0.000

 

 

 

 

TOTAL

425.333

339.211

240.111

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

27.364

12.843

11.188

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.000

0.000

0.000

DEFERREX TAX ASSETS

0.787

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
270.884

 

 

Sundry Debtors
283.976

483.028

328.018

 

Cash & Bank Balances
13.616

 

 

 

Other Current Assets
0.000

 

 

 

Loans & Advances
14.787

 

 

Total Current Assets
583.263

483.028

328.018

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

Current Liabilities
180.390

156.660

99.151

 

Provisions
5.691

 

 

Total Current Liabilities
186.081

156.660

99.151

Net Current Assets
397.182

326.368

228.867

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

425.333

339.211

240.111

 

 

 

 

 

 

 

 

 

 

 

 

PROFIT & LOSS ACCOUNT

 

PARTICULARS

 

31.03.2006

31.03.2005

31.03.2004

Sales Turnover [including other income]

1099.779

874.927

997.822

 

 

 

 

Profit/(Loss) Before Tax

101.118

77.940

45.125

Provision for Taxation

95.073

29.760

12.365

Profit/(Loss) After Tax

66.045

48.180

32.760

 

 

 

 

Export Value :

679.484

472.706

336.049

 

 

 

 

Import Value :

100.336

84.154

83.880

 

 

 

 

Total Expenditure

1014.617

796.986

622.697

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2006

31.03.2005

31.03.2004

PAT / Total Income

(%)
6.00

5.51

3.28

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
9.19

0.91

4.52

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
16.55

15.72

13.30

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.41

0.43

0.33

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
0.76

1.74

1.49

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
3.13

3.08

3.31

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Form 8:

 

Name of the company

IGP ENGINEERS PRIVATE LIMITED

Presented By

V.lakshmanan, Director

1) Date and description of instrument creating the change

Original deed of hypothecation Dt. 01.08.1979

2) Amount secured by the charge/amount owing on the securities of charge

Rs.4.300 millions

3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given

Hypothecation of stock of raw material , all Plant and Machinery, Book Debts and Equitable Mortgage of Factory Land and Building

4) Gist of the terms and conditions and extent and operation of the charge.

The company hypothecated its current assets, plant and machinery and book debts and UCO Bank, New No. 328, Old No. 169, Thambu Chetty Street, Chennai – 600001, fir obtaining credit facilities towards working capital. The company has also extended the equitable mortgage of factory land and building situated at No. 277 / 2, old Mahabalipuiram Road, Kottivakkam, Chennai – 600041, for the above said credit facilities.

5) Name and Address and description of the person entitled to the charge.

UCO Bank

New No. 328, Old No. 169, Thambu Chetty Street, Chennai = 600001

6) Date  and brief description of instrument modifying the charge

1.Supplementary deed of hypothecation dt.12.01.2004, increasing overall limitsRs.119.000 millions to Rs.186.057 millions

2. Agreement of hypothecation of plant and machinery as additional security

3. Agreement of extension of charge by way of hypothecation over current assets to secure non – fund based facilities

4. Agreement of hypothecation and book debts to secure demand cash credit

5. Agreement of hypothecation of goods to secure a demand cash credit

6. Agreement Re: Inland / foreign bills purchased and advances against bills in course of collection

7. Agreement of permanent / omnibus counter guarantee

8. Agreement relating to term loan

9. Agreement for packing credit advance.

 

All agreement are dt.12.01.2004

 

7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.

The overall credit limit have been increased from Rs.119.000 millions to Rs.186.057 millions comprising of Term Loan – Rs.2.057 millions, Term Loan (New) – Rs.2.500 millions, Cash Credit (Stock) and packing credit (fully interchangeable) – Rs.36.500 millions, Bills purchased (Inland / Foreign) – Rs.40.000 millions, letter of credit (Inland / Foreign) – Rs.70.000 millions Bank Guarantee – Rs.35.000 millions

 

 

Corporate identity number (CIN) Foreign company registration number

U27200TN1979PTC007868

Name of the Company

IGP ENGINEERS PRIVATE LIMITED

Address

252 / 134, Angappa Naicken St. Chennai – 600001, Tamilnadu

This form is for

Modification of Charge

Type of Charge

Immovable Property, Book Debts, Movable Property (not being pledge) and Floating Charge

Particulars of the charge holder 

UCO Bank

MID Corporate Branch, 328, Thambu Chetty Street, 3 floor, Parrys, Chennai – 600001, Tamilnadu

E – Mail: bo.ibbchn@ucobank.co.in

Amount secured by the charge

Rs.315.000 millions

Brief of the principal terms and conditions 

For Cash credit / term loan ROI @ BPLR 2% i.e. 10% p.a.

For packing credit up to 180 days @BPLR - 4.25% i.e.7.75%

For Foreign Bills Purchases, up to 90 days @BPLR – 4.25% i.e. 7.75% and for 91-180 days

For PCFC + LIBOR + (Plus) 0.75% on monthly rest

 

Margin:

For Cash Credit / packing credit / PCFC  : 25% on

                                                      stock and book debts

For Bills purchase (BP)   : 10% on documentary bills, both inland and foreign and nil on cheque purchase

Term Loan  : 25%

Date of latest modification prior to present modification

15.11.2004

 

 

AS PER WEBSITE

 

They are the market leaders for industrial gaskets in India, well known under the brand name of Spiraget

Their manufacturing facility is ISO 9001:2000 certified, and on par with world class players in manufacturing process as well as technology.

Their gaskets are used worldwide.

Millions of their gaskets are successfully being used in a wide variety of countries around the world.

Special Points

  1. They can meet special sealing and selection requirement of customers.
  2. Ready stock of even exotic materials such as Monel , Inconel , Titanium, Nickel etc.
  3. They work round the clock to meet emergency and shut down requirements.

INDUSTRIAL GASKET RANGE

Insap flex Hose Assemblies

 

 

Flexible's Division

·         OE supplier for mainly earth moving machinery, drilling rigs, machine tools and compressor manufacturers.

·         Can cater to a wide variety of industries.

·         Modern and spacious manufacturing facilities.

Fittings

Manufactured from Mild steel, Stainless Steel or Brass. Secured by argon welding or Silver brazing depending upon hose type and service conditions. They can also manufacture to the special requirements.

 

Ring type Joint Gaskets : Ring type Joint Gaskets are designed to seal by "initial line contact" or wedging action between the mating flange and the gasket. By applying pressure on the seal interface through bolt force, the softer metal of the gasket flows into the microfine structure of the harder flange material, creating a very tight and efficient seal.

 

CROSS SECTION

The contact face is in oval shape. It provides a high reliabililty seal.
These gaskets comply with ASME B-16.20

Octagonal Type

More accurate in dimensions and surface finish than oval type because it consists of straight surfaces only. A Higher torque load is required to flow the gasket material into imperfections of the flange facings.
These gaskets comply with ASME B-16.20.

 

BX type

 

Designed to API 6A. Interchangeable with the oval and octagonal series of identical reference numbers, and used in the same flange grooves.

 

RX type

Designed to API 6A for use with grooved flanges on special applications involving high pressures from 5,000 to 15,000 psi.

MATERIAL

CARBON STEEL, SOFT IRON

MONEL 400

HASTELLOY B2 & C276

304

316Ti

NICKEL 200

COPPER

304L

310

INCONEL 600,625&x-750

ZIRCONIUM

316

321

INCOLOY 800 & 825

DUPLEX

316L

3CR12

TITANIUM

PTFE(INNER RINGS ONLY)

SIZES
They manufacture Ring type joint gaskets of any size and shape

FLANGE FACINGS
Raised face, flat face, ring joint, lapped joint, large tongue and groove, small male and female, small male and female, large male and female.

FLANGE STANDARDS

Ring joint gasket can be manufactured in accordance with all relevant gasket standards and specifications to suit the following flange designations:

API

605 (ASME B16.47 SERIES B)

ASME/ANSI

B16.5

BS

1560

BS

4504

BS

10

DIN

FLANGES

FRENCH

NF STANDARD

JIS

FLANGES

MSS SP

44 (ASME B16.47 SERIES A)

 

Fastest, most economical, safe & environment-friendly

Cooling water sources cause different tube fouling problems that affect heat transfer and life expectancy of Heat Exchanger and Condenser Tubing

Power Stations, Refineries, Fertilizer Units and Industries in general, in developed countries employ Bullet Cleaning as an effective and efficient way of cleaning condenser tubes.

Arudra now offers this specialised service to Indian Power Stations and other Industries. Arudra Engineers Pvt. Ltd., is a member of the IGP group based at Chennai, India.

Industrial cleaning has been one of their prime activities for over two decades now.

They have now been franchised by Specialised Overhaul Services Pty. Ltd (SOS)., Australia, to offer Tube cleaning services in India and many other countries world over.

SOS has perfected this technique in Australia, using specially designed water propelled patented bullets. This technique can clean fouled condenser tubes with the following exceptional benefits.
which includes

  • Big cost saving
  • No environment-pollution
  • Very limited shut down time
  • Longer tube life
  • Improved plant availability
  • Improved power generation
  • Low consumption of Power and Water

Spring loaded tube cleaner (Bullets) are shot through fouled Condenser Tubes using specially designed water guns at 15-25 kg/cm2 water pressure. The bullets moving through the tube from one end to the other, scrape off the deposits and corrosion scales. Water from the gun flushes out scraped deposits resulting in a clean inside surface for the tube, ideal for good heat transfer. Tube cleaners exit at the end of the condensers, hitting a collection screen hung at the other end. These cleaners are collected, cleaned and used again. Normally a bullet can be used 10 to 15 times

News from Industry

Indian Examples

BHEL PS(N), in their house magazine "Darpan" October 2000 issue, declares that 16500 tubes of NTPC's 210 MW TG Condenser, was cleaned to satisfaction, using the Bullet cleaning method in less than 4 days. Usually it takes about 10-15 days by any other cleaning method. The cleaning was carried out by Arudra. BHEL proclaims that they will use this method of cleaning for their future jobs.

Tata Power : By Bullet Cleaning, the actual vacuum measured after re-commissioning of the condenser has improved, as compared to the pre-outage value by 8.1 mbar.

MSEB: It is reported that condenser vacuum has improved from -0.84 kg/cm2 before cleaning to -0.90kg/cm2 after cleaning.     

 

  International Examples

·         At Bayswater Power Station, Australia, there was a 1.5% condenser efficiency improvement when the main condenser was cleaned by Bullet Cleaning method. This translates to a 0.3% overall plant efficiency improvement.

·         At Clinton Power Station Illinois, USA, a 985 MW Boiling Water Reactor (BWR), uses a main condenser with 53,160 SS tubes. Bullet Cleaning removed 80 tonnes of scale ! Power generation increased by 20 MW!

 

ARUDRA : PRODUCTS & SERVICES

  • Manufacturers of Coronil 213 SPL, a world-class Acid Corrosion Inhibitor.
  • Manufacturers of Pure Potassium Bromate (Export Quality).
  • Authorised distributors of M/s. Conntect Inc. - USA for Gas Turbine Compressor Cleaners in India.

Chemical Cleaning of Industrial Equipments.         

Explosive De-slagging of boilers in association with M/s. Precision Blasting Inc., USA

Technical Services Laboratory offers

Testing of water, waste water, oil, tube & scale samples

Site study of effluents and advise action for zero discharge plants

Setting up of Mobile Testing Laboratories etc.

Scale, Deposits and Foreign matter removed from condenser tubes By ARUDRA'S BULLET CLEANING OPERATIONS

 

WHY ARUDRA ?

  • Skilled and experienced cleaning crew.
  • Proven high performance cleaning equipments and bullets from their Australian associate.
  • Available 24 hours a day, 365 days a year
  • Very quick mobilisation - often less than 48 hours.
  • Cost Effective

Profile                                                                                            

 

 

LONESTAR INDUSTRIES, a leading Engineering Organization based at Chennai, India.

LONESTAR offers a wide range of Metal Expansion Joints / Bellows.

LONESTAR with several years of experience, have successfully developed and supplied Metal Expansion Joints / Bellows for various applications which includes Pipe Lines, Process Ducts, Turbines, Heat Exchangers, Condensers, Exhaust Manifolds and other Equipments.

LONESTAR have supplied Metal Expansion Joints / Bellows for the above applications to various installations in Core-Sector Industries such as Refineries, Petrochemicals, Chemical, Fertilizer, Metallurgical, Steel, Power, Cement, Nuclear, Shipping etc.

LONESTAR with proven design & latest manufacturing technology supported by ISO 9001 accredition, offers Quality Metal Expansion Joints / Bellows meeting Global Standards.

 

RUBBER EXPANSION JOINTS

  • CORI manufactures rubber expansion joints and bellows as per Fluid Sealing Association of USA standards for Nuclear and Thermal power plants, Refineries, Fertilisers, Petrochemicals, Paper and Sugar industries
  • CORI has supplied 1600 NB size rubber expansion joints for 210 MW power station duly cycle life tested under M/s Lloyds Register inspection as early as 1991 and then onwards, nearly 300 nos. of this size alone were produced by CORI for use throughout India
  • CORI has also developed and supplied 2200NB rubber expansion joints for 500 MW thermal stations also under M/s Lloyds Register Expansion, duly tested for 5000 cycles. This is the first time in India that a bellow of this size had been
    manufactured, tested and commissioned, as import substitution.
  • CORI's customers have placed repeat orders, a proven recognition for product quality and prompt service

SIZE

40 mm to 2200 mm NB

PRESSURE

Up to 24kg/sq. cm 
(depending on the size)

TEMPERATURE

250 degrees celsius

CROSS SECTION

Cylindrical, Rectangular, Square, Reducer

ARCHES

Single, Double, Multi-arches

TYPES OF RUBBER

Natural rubber, Neoprene, Butyl, Nitrile, EPDM, Hypalom, Silicone and Viton.

 

  • CORI Engineers Pvt. Ltd. manufactures high quality CORIRUBBER anti vibration mounts in a variety of shapes and sizes.
  • Their products meet OE requirements of generator and compressor manufactures in India and abroad
  • CORIRUBBER Anti vibration mounts can also be designed and manufactured to meet the specific requirements of customers.
  • Data sheets are available to help users choose the appropriate mount for their application.

    USE

    The use of anti vibration mount is to absorb and minimise the vibration present in the system.

MATERIAL

Anti Vibration mounts can be manufactured
out of both natural and synthetic elastomers.
Synthetic elastomers regularly handled are SBR, EPDM, Neoprene, Nitrile, Butyl, Viton, Hypalon.

RANGE - Combination of Compression & Shear Loading

Quickfoot A - Corirubber 503A(equivalent to Dunlop A Series)
Quickfoot B - Corirubber 503B(equivalent to Dunlop B Series)

This is a time tested solution for isolating vibration from diesel generators, compressors, screens, blowers and other heavy machinery from external vibration.
This comprises two rectangular mounts with interleaf assembled at an angle to absorb a combination of shear & compression loading, protected by cast iron housing. This will also offer protection from the oil leakage or spillage. Installation can be made for most machines without bolting to the floor by using oil resistant friction pad supplied with the mount.This prevents the machine from walking.
Load range: 100 kg to 500 kg.
Load range: 500 kg to 1600 kg.

Their Corirubber 503 series are approved by Department of Telecommunication Kerala zone for use in various Engine alternator works in the Department of Telecommunication

Rectangular with Interleaf - Corirubber 501 / 502

These are available in two different sizes. The smaller size has a stud on one side while the larger one has no stud. Two numbers of the larger size are used as the rubber springs in each of the cushyfoot Quickflex-503 mountings. These can be loaded either in compression or in shear and withstand loads upto 1000kg in compression and upto 200kg in shear.

Rectangular with Interleaf - Corirubber 510 / 511 / 512 / 513

These come in four different sizes. These are used to isolate vibrations from heavy equipment such as large DG sets.
These require no bolting either to the floor or to the machinery. These are manufactured in lengths upto 1000mm.

Elliptical based Shear Mounts - Corirubber - 508

These mounts have threaded inserts at the top and have an elliptical base with a metal reinforcement. They can be supplied in synthetic rubber such as Neoprene or Nitrile, depending on the service conditions. It is used in air handling units such as blowers and both axial as well as centrifugal fans upto 500 mm dia.

Load range : Upto 1000kg

 

 

 

 

 

Cylindrical - Corirubber - 504 / 505 / 506 / 507

 

These are low cost mounting arrangements which are easy to install either in compression or in shear and require no maintenance. They come in different sizes with either studs on both ends or stud on one end and threaded insert on the other or threaded inserts at both ends.

Load range : 10kg to 2500kg

 

 

 

Mountings for electrical / electronic instruments / fittings - Corirubber - 509

 

These are similar to cylindrical mountings except for the concave rubber profile which permits greater deflection for a given load. These are used to protect sensitive electrical / electronic instruments / fittings from low frequency external vibrations. The bolts on either end promote easy installation.

 

Isolation pads - Corirubber 514 / 515

 

These pads are used for sound suppression and are laid directly under the machines. These provide low deflections and are used in conjunction with other mountings. These are available with or without cork inserts.

 

Since January 2001, Cori Engineers Private Limited Caters to the shipping Industry for various supplies and services. While we have developed various products for their customers, we are also in position to use their vendor base to satisfy their customers.

Hatch Cover packing.

Air Vent Hoods
80NB
100 NB
150 NB
200 NB                                                               

 

Rubber Bellows / Expansion joints 
Anti-vibration Mounts 
Metallic & Non Metallic Gaskets 
Metallic Bellows 
Hydraulic Hose Assemblies 
Other rubber Components - Fenders Sheets. 
Conveyor Rollers 

 

Carrying out Various repair services for the Ships. For 

Maintenance and repair of Engines and Auxiliary machinery like boilers , compressors purifiers pumps etc.

Maintenance and repair of Hydraulic Machinery.

Maintenance and repair of Hull Structural and Electrical Fitting.

Cleaning of the and Plate type Heat Exchangers including re-tubing, gasket Renewal.

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.41.18

UK Pound

1

Rs.82.41

Euro

1

Rs.55.85

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

8

PAID-UP CAPITAL

1~10

8

OPERATING SCALE

1~10

8

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

8

--PROFITABILIRY

1~10

8

--LIQUIDITY

1~10

8

--LEVERAGE

1~10

8

--RESERVES

1~10

8

--CREDIT LINES

1~10

8

--MARGINS

-5~5

-

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

72

 

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

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions