MIRA
INFORM REPORT
|
Report Date : |
14.12.2007 |
IDENTIFICATION
DETAILS
|
Name : |
MECHATRONICS AND DESIGNS |
|
|
|
|
Registered Office : |
B-19, Sector – A-1, Tronica City, Loni Road, Ghaziabad – 201102, Uttar
Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
2007 |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Manufacturer of all types of engineering goods. |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Maximum Credit Limit : |
USD 14000 |
|
|
|
|
Status : |
New Concern |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a new conern promoted by Mr. Atul Jindal after departing from
Asaram Meehatronics. Proprietor has good experience in his field. His trade
relations are fair. Payments are reported as slow but correct. The concern can be considered for small to mediocre business dealings
with slight caution, initially. |
LOCATIONS
|
Registered Office : |
B-19, Sector – A-1, Tronica City, Loni Road, Ghaziabad – 201102, Uttar
Pradesh, India |
|
Tel. No.: |
91-9990333572/577 |
|
Mobile No.: |
91-9990333572 |
|
E-Mail : |
|
|
Area : |
23000 sq. ft. |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Atul Jindal |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
32 years |
|
Qualification : |
Engineering |
|
Experience : |
15 years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of all types of engineering goods. |
|
|
|
|
Exports : |
|
|
Products : |
Engineering Goods |
|
Countries : |
|
|
Terms : |
|
|
Selling : |
L/C, Cash and Credit |
|
|
|
|
Purchasing : |
L/C, Cash and Credit (60 days) |
GENERAL
INFORMATION
|
Customers : |
|
|
|
|
|
No. of Employees : |
45 (40 – Factory, 5 – Office) |
|
|
|
|
Bankers : |
Syndicate Bank, East Patel Nagar, New Delhi |
|
|
|
|
Facilities : |
Limit Rs.5.000 Millions |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
Not Appointed |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.3.500 Millions |
|
Borrowed : |
- |
|
Total : |
Rs.3.500 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
|
31.03.2007 |
|
Sales Turnover |
|
|
30.000 |
|
|
|
|
|
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference:
- Rantec
Automotive, UK
- PTC ,
Ghaziabad
- Delphi –
Greater, Noida
Website details:
Subject has provided high-precision metal products to many
companies in a variety of markets and industries.
Their experience, engineering expertise, and state of the art CNC machines,
combined with their dedication to quality and efficiency at all stages of
fabrication, make them the outstanding manufacturer and supplier of precision
machined components. Automation throughout the manufacturing process means
their operators have only one responsibility - quality.
The concern represented by Atul
Jindal, a tool engineer from TRTC ( Tool Room andTraining Center ) an Indo
Danish Project. Worked
as sales and service engineer for CNC Machines. Trained in university of
western sydney, neapen (Australia) for mechanical automation.
These days, it is not enough to simply machine components to a customer
drawing.They are having a long history of developing precision custom component
solutions for their customers. They can reduce cost, lead-time, customer
inspection efforts, and provide critical process improvements such as design
for manufacturability. At the heart of their efforts are their people and the
experience of their manufacturing craftsmen.
Subject name is synonymous with high
quality, high precision machining and outstanding service.
Every detail, from pre-production review to customer's production, is given
full attention to assure they have the best opportunity to "do it right
the first (and every) time".
They will gladly produce and hold their high precision parts until they are
ready to receive them. Their products provide a variety of highly engineered
components to an impressive list of industrial manufacturers. In their quest to
serve their customers best, they produce products that meet each of their customers’
mechanical engineering requirements. They are the most successful and highly
recognized manufacturers of the following product range:
Services:
Subject manufactures precision custom components to nearly
every major industry. Some of their most rewarding work is with the
technological leaders in fields such as cardiac surgery, medical implants and
subminiature electronics, where their engineering expertise and proactive
attitude assist them with creating groundbreaking products.
Everyone on their staff has extensive experience in the high precision
machining industry and excels at handling even the most detailed requests with
ease and accuracy. They can ship their precision custom components anywhere in
the world and can work with a variety of purchasing systems including, JIT, MRP
and vendor managed inventory systems. They can also work with they to customize
a system that fits their unique needs and desires. Their goal is to exceed, not
just meet, their expectations.
Their success is built on a commitment to a strong corporate infrastructure,
innovative, and safe business procedures and their quality products. Today,
Subject products represent quality, dependability and consistency.
At subject they pride ourselves on continuous improvements in all aspects of
their company. They focus on prevention as it relates to added value in their
services, their product, and their business. Each employee is dedicated to
exceeding customer expectations. They allocate significant resources to
continuous quality improvements. It is subject commitment to their customers,
their staff, and their industry to provide exceptional service and a superior
product.
Products:
Here in subject recognize their mechanical needs and so can
provide they with innovative solutions to their problems. The immense practical
experience in technical solutions they have ensures that challenges in
development, manufacturing and processing can be met effectively and smoothly.
They are specialized in the following range of 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.39.37 |
|
UK Pound |
1 |
Rs.80.49 |
|
Euro |
1 |
Rs.57.92 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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 |
|