MIRA
INFORM REPORT
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Report Date : |
13.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
SILENT SOLUTION ENGINEERS |
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Registered Office : |
133, Railway Parallel Road, Horamavu Village, Horamavu Post, K R Puram,
Hobli, Bangalore 560043, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2001 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Qualified Acoustical Engineers, Consultants and Contractors of Noise
Control Enclosures and systems for all kinds of D. G. Sets, Machinery and
Equipments |
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 10000 |
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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 and reputed concern. Proprietor is
reported as experienced and respectable businessman. Trade relations are fair. Business is active. Payments are usually correct and as per
commitments. The concern can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office/Factory : |
133, Railway Parallel Road, Horamavu Village, Horamavu Post, K R Puram,
Hobli, Bangalore 560043, Karnataka, India |
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Tel. No.: |
91-80-25656171 |
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Mobile No.: |
91-9845931434 |
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Fax No.: |
91-80-25656171 |
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E-Mail : |
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Area : |
10000 Sq. fts. |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. A. V. Henry |
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Designation : |
Proprietor |
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Date of Birth/Age : |
39 Years |
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Qualification : |
M. E., MIE |
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Experience : |
17 Years |
BUSINESS DETAILS
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Line of Business : |
Qualified Acoustical Engineers, Consultants and Contractors of Noise
Control Enclosures and systems for all kinds of D. G. Sets, Machinery and
Equipments |
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Terms : |
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Selling : |
30 – 45 days |
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Purchasing : |
30 days |
GENERAL
INFORMATION
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Suppliers : |
Ø Steel Centre,
Bangalore Ø Babu Ram
Premchand, Bangalore Ø Mars Iron and
Steel, Bangalore |
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Customers : |
Ø Gemmco,
Bangalore Ø Sterling and
Wilson, Bangalore |
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No. of Employees : |
9 |
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Bankers : |
Karnataka Bank, Banasawadi, Bangalore 43 |
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Facilities : |
Operating on own funds |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Narayana Bhat Chartered Accountants |
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Address : |
Bangalore |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.500 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 2.500 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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10.000 |
7.600 |
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Profit/Loss for the year |
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5% |
6% |
Expected Sales (2007-08) : Rs. 1.000 Million
LOCAL AGENCY
FURTHER INFORMATION
Profile:
Subject
facilitates a product range to save you from this strenuous impact and the
effects followed upon. They are the manufacturer of a wide
variety of Noise Control Equipments, Acoustic Enclosures/Canopies, Acoustic
Room Treatment for the DG Sets and Machineries. Skilled enough with a
deep knowledge of the science of sound, their awareness specifically revolves
around the ever growing effects of the sound pollution and increasing cases of
the related diseases due to an adverse effect of the sound pollution. Of
course, their field is something which appears to be on a budding stage,
yet it provides something very exceptional. They have registered their selves
as a SSI unit in Karnataka and with register of company and the Sales Tax
Department.
Due
to their dedication and adoption of the international technologies in producing
a range of world class equipments, they have acquired a dominating position in the
industry. The company's factory is well equipped with all modern technologies
coupled with the highly qualified, experienced and masters of their art
engineers delivering high voltage performance. Many companies, hospitals and
millions of households now depend upon their highly reliable noise control
equipments. Their major clients include the names of TIL Ltd., GMMCO Ltd.,
STERLING WILSON, VIBRO POWER, H.A.L. FG WILSON, VSNL and many more to mention.
The sphere of their business and operations is expanding everyday making them a
renowned name in the industry.
Products
Manufacturing
a scientific equipment is neither easy nor simple, to specifically create some
highly reliable noise control equipments. It requires knowledge and accuracy
along with the latest equipments and the aid of modern technology
which never remains a problem to them. Moreover, their expert team endures
its years of experience in the manufacture of class products including:
- Noise Control
Equipments
- Acoustic
Enclosure/Canopies
- Acoustic Room
Treatment for DG Sets and Machineries.
Their Quality
An uncompromising attitude towards quality is their edge over others. This
includes the check and recheck of their equipments before being launched into
the market. They are made of high quality metal and according to some well
defined internationally acclaimed norms and standards. They can never
think of putting the confidence on them at risk. The rest remains assured with
the reliance over Silent Solution Engineers in the quest of silence on the
sound polluted earth.
Their Infrastructure
The success and reputation earned by them within few years remains
unparalleled, becoming possible only due to their strong base. They have
complete manufacturing facility to roll out four to five enclosures per month
with the current set up. Their lab equipped with all the latest machinery along
with their skilled and experienced man power makes them excel in each and every
business operation that they perform. Their unpredictable production
capability, efficient management, timely delivery of products - all these
factors choose to make them a leading name in the industry.
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 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. 39.36 |
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UK Pound |
1 |
Rs. 80.31 |
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Euro |
1 |
Rs. 57.79 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
NO |
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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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