MIRA
INFORM REPORT
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Report Date : |
27.08.2007 |
IDENTIFICATION DETAILS
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Name : |
MAHAVIR ENGINEERING WORKS |
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Registered Office : |
25/26, Mahakali Nagar, Opposite Ghanti Bus Stop, Amraiwadi, Ahmedabad,
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2002 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers and Exporters of higher grade Pharmaceutical
machineries. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 4000 |
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Status : |
Small Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a small and unknown concern. Its payments are unknown.
Trade relations are reported as correct and as per commitments. The concern can be considered for small business dealings on safe and
secured trade terms and conditions. |
LOCATIONS
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Registered Office : |
25/26, Mahakali Nagar, Opposite Ghanti Bus Stop, Amraiwadi, Ahmedabad,
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Tel. No.: |
91-79-32405818 |
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Mobile No.: |
91-9825119663 |
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Fax No.: |
91-79-39878377 |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Mansukhbhai Babaldas Gajjar |
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Designation : |
Proprietor |
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Date of Birth/Age : |
53 years |
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Qualification : |
S S C |
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Experience : |
20 years |
KEY EXECUTIVES
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Name : |
Mr. Prakash Gajjar |
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Designation : |
Marketing Manager |
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Mobile No.: |
91-9825119663 |
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Date of Birth/Age : |
25 years |
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Qualification : |
Diploma in Diesel Mechanical |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of higher grade Pharmaceutical
machineries. |
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Products : |
v Rotary Bottle Washer v Screw Capping Machine v Tunnel Bottle Washer v Inspection Table v Vial Washer v Packing Conveyor v Liquid Filling Machine v Turn Table v Vial Liquid Filling Machine
v Tablet Section v ROPP Cap Sealing Machine v Colloid Mill v Vial Sealing Machine v Filter Press v Tablet Machine v Homogenizer |
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Terms : |
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Selling : |
Cash or Credit |
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Purchasing : |
Cash and Cheque |
GENERAL INFORMATION
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Customers: |
v
Camlin Limited v
Ranbaxy v
Cadila Limited |
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No. of Employees : |
6 |
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Bankers : |
Gujarat Industrial Co-operative Bank Raskhan Branch, Ahmedabad, |
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Facilities : |
The concern does not enjoy facilities from its banker. |
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Banking
Relations : |
Unknown |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.000 million |
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Borrowed : |
- |
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Total : |
Rs. 1.000 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
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Sales Turnover |
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0.300 – 0.400 |
LOCAL AGENCY FURTHER INFORMATION
Website details attached:
In today's competitive scenario every company wants to
attain maximum production at the minimum cost. The superior mechanical system is
a prerequisite for realizing the company's concerned objective. Armored with
innovative technologies and dynamic professionals, subject offers a comprehensive range of
superior pharmaceutical
machines to its clients. Incepted in the year 1987, the company
is a renowned manufacturer, exporter and supplier of
premium quality rotary
bottle washer, liquid vial washer, liquid filling machine, vial liquid filling
machine, ROPP cap sealing machine, packing conveyor, tablet section, filter
press, etc. They are professionally headed by a team of highly
experienced professionals having decades of experience in their respective
domains.
The company has earned the trust and support of a large number of satisfied
clients from across the world by rendering them its innovative solutions at
economical prices. Their ability to deliver effective products as per exact
requirement of the clients provides us an additional edge over other players in
the similar trade.
Quality Assurance
Superior quality is the primary concern at Mahavir
Engineering Works. The company's QMS (quality management system) comprises of
strict inspection procedures right from the procurement of raw materials
(specifically the grades of M.S., S.S., and C.I.) to the shipment of finished
products. The finest quality of raw material is sourced from reputed agents of
the market. Each product is manufactured under strict supervision of well
equipped quality inspectors to ensure the production of excellent products from
every stage.
Advance Laboratory
They also possess an advance laboratory which is equipped with the latest testing equipments to conduct various tests. Their professionals work round the clock to upgrade the existing products as well as to innovate new products as per the emerging requirements.
Infrastructure
Their sound infrastructure is their biggest asset. They are well equipped with
innovative technologies and well trained workforce to manufacture innovative
pharmaceutical machines for their valued clients. Technological renovation is a
regular cycle at Mahavir Engineering that helps it to deliver unmatched
products at reasonable prices to its clients.
Primary Competitive Advantages
v Excellent Quality
v
Reasonable Prices
v
Timely Delivery
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. 41.18 |
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1 |
Rs. 82.41 |
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Euro |
1 |
Rs. 55.85 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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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28 |
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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