MIRA
INFORM REPORT
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Report Date : |
14.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
KRISHNA ENGINEERING INDUSTRIES |
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Registered Office : |
D – 29, Industral Area, Focal
Point, Nabha – 147201, Punjab |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1997 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PTLK10019C |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturer, Exporter and Trader of Auto Parts |
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 21600 |
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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. Partners are
reported as experienced and respectable businessmen. Trade relations are
fair. Business is active. Payments are reported as 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: |
D – 29, Industral Area, Focal Point, Nabha – 147201, Punjab, India |
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Tel. No.: |
91-1765-226826 |
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Mobile No.: |
91-9872021291 |
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Fax No.: |
91-1765-221291 |
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E-Mail : |
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Area : |
2000 sq. ft. |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Rajesh Aggarwal |
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Designation : |
Partner |
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Date of Birth/Age : |
41 years |
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Qualification : |
Graduate |
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Experience : |
17 years |
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Name : |
Mr. Madan Gopal |
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Designation : |
Partner |
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Date of Birth/Age : |
54 years |
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Qualification : |
BA.LLB |
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Experience : |
25 years |
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Name : |
Mr. Hemraj Aggarwal |
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Designation : |
Partner |
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Date of Birth/Age : |
70 years |
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Qualification : |
Graduate |
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Experience : |
45 years |
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Name : |
Mr. Rakesh Singhal |
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Designation : |
Partner |
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Date of Birth/Age : |
45 years |
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Qualification : |
Graduate |
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Experience : |
20 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Trader of Auto Parts |
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Products : |
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Exports : |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit (60 days) |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
113 (13 – Office, 100 – Factory) |
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Bankers : |
State Bank of Patiala, Nabha |
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Facilities : |
Limit Rs.4.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Ram Goyal and Company Chartered Accountants |
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Address : |
Nabha |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.5.400 Millions |
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Borrowed : |
- |
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Total : |
Rs.5.400 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 |
50.000 |
46.500 |
45.000 |
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Profit |
2.375 |
2.209 |
2.150 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference:
- Swraj Automotives Limited
- Sigma Biographic Mohali
- Sigma Moulds and stampings, Manesar
Website details:
Subject is synonymous with exclusive quality sheet metal and
machined components. A name built over many years of trust and hard work.
Started in 1997, it has carefully engineered name and fame in high quality and
precision sheet metal work. It is one of the first sheet metal manufacturing
company in northern India to be credited with ISO 9001:2000, the International
certification for quality Management Systems. The “JAS ANZ” certification was
awarded by International certification limited (Joint Accreditation System of
Australia and New Zealand).
Today, Subject, is one of the leading outsourcing vendor for
major automobile OEMs in India. It is now fully ready and poised to capture the
global market. Exclusive quality of the
sheet metal and machined components manufactured at their works, is aimed at
creating a niche in the international Automotive Market and in the bargain it
may pose a serious challenge to their competitors. Subject has one of its
sisters concern located near their Works with the following address: Gopal
Engineers and Fabricators, B-13,Industrial Focal Point,Nabha.
Gopal Engineers and Fabricators are Accredited with ISO
9001:2000. Subject is spread over a total area of 40, 000 sq. ft. Its
Power Press shop has latest machines ranging from 10 Tons to 250 Tons. Their machine shop pioneers in the field of
sheet metal components and assemblies and specializes in deep draw components
apart from machined automobile parts.
At Subject the future of sheet metal components and accessories is safe. The
quality is never a compromise at their works since it is the tradition built
over years of toil and sweat.
Products:
- Agricultural Parts
- Display Stand for Confectionery
- Metal Parts for furnishing
- Parts for Rubber Mouldings
- Recliner Parts
- Split Pipe Section for Telecommunication
Quality:
Their orientation towards the client has driven them to
adopt, for some years a total quality policy. The effective control process
from incoming materials to the dimensional control of initial samples, produced
in the dies they manufacture for their clients, is the guarantee
of recognized as the ideal in the sheet metal works and pressing
dies Industries.
Some of the pillars of their strength in the industrial segment are as follows:
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- 20 years well dug family professional experience
- A whole lot of very modern machines
- Rigorous quality control
- Efficiency at all manufacturing phases
- Their exclusive technological know-how
- Skill of their engineers and technicians
- ISO 9001:2000 certified quality of the finished products
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.39.37 |
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UK Pound |
1 |
Rs.80.49 |
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Euro |
1 |
Rs.57.92 |
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 |
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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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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