MIRA
INFORM REPORT
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Report Date : |
13.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
AVADHOOT MARKETING |
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Registered Office : |
47 / 1, GIDC, Visnagar – 384 315, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1995 |
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Legal Form : |
Partnership concern with an Unlimited Liability of the partners. |
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Line of Business : |
Trader of all electrical products including Electric Valona, Domestic Pumps,
Sub Monoset Pump, Unique Features. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 4000 |
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Status : |
Small concern |
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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. No payments are known. It can be considered for any business dealings on fully safe and
secured trade terms and conditions. |
LOCATIONS
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Registered Office : |
47 / 1, GIDC, Visnagar – 384 315, Gujarat, India |
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Tel. No.: |
91-2765-230603 |
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Mobile No.: |
91-9426056275 |
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Website : |
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Area : |
125 sq.fts approximately |
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Location : |
Owned |
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Branches : |
14 / B, Sagar Estate, Near Patel Estate, Opposite: Khandilakar,
Gandhinagar Bavla Road, Sarkhej, Ahmedabad -380021
, Gujarat, India |
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Tel. No.: |
91-79-32925695 |
PARTNERS
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Name : |
Mr. Balvantbhai Raval |
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Designation : |
Partner |
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Date of Birth/Age : |
42 years |
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Qualification : |
ITI |
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Name : |
Mr. Bhikabhai Patel |
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Designation : |
Partner |
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Date of Birth/Age : |
60 years |
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Qualification : |
Electrical Supervisor |
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Name : |
Mr. Hasmukhbhai Patel |
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Designation : |
Partner |
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Name : |
Mr. Ishwarbhai Patel |
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Designation : |
Patel |
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Name : |
Mr. Amrutbhai Patel |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Trader of all electrical products including Electric Valona, Domestic
Pumps, Sub Monoset Pump, Unique Features. |
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Products : |
· Electric Motors · Electric Stirrer · Sub Monoset Pumps · Domestic Monoblock Pumps - Single Phase Self Priming Monoblock Pump Set - Sub Mono Oil Filled Pumps - Centrifugal Pumps, etc. |
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Agencies Held : |
Avadhoot Engineering Industries. |
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Terms : |
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Selling : |
Cash, Credit ( 30 Days) |
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Purchasing : |
Cash, Credit ( 30 Days) |
GENERAL
INFORMATION
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Customers : |
Retailers, End Users |
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Bankers : |
Bank of Baroda Address: Visnagar Branch |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
Mr. Mukeshbhai Patel Chartered Accountants |
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Address : |
Visnagar – 384 315, Gujarat, India |
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Associates/Subsidiaries : |
· Avadhoot Engineering Industries Address: 47 / 1, GIDC, Visnagar – 384 315, Ahmedabad, Gujarat,
India Activity: Manufacturer of Electrical Goods
· Shree Rang Industries Address: Serve No. 520/1, Plot No. C,
Shree Rang Industries Estate, Visnagar Unjha Road, Kansa (Visnagar) – 384
315, Gujarat, India Activity: Manufacturer of Electrical
Goods. |
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 |
31.03.2006 |
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Sales Turnover |
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2.000 |
1.500 |
Expected Sales (2007-08): Rs. 2.500 millions
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCE:
· Kala Electrical And General Stores
· Avadhoot Electrical, Visnagar
· Denmark Engineering, Ahmedabad
WEBSITE DETAILS:
The concern is a highly reputed brand with immense experience and
unmatched popularity in the field of design and development of electric pumps,
motors and stirrers. Their concern was founded in the year 1989 and since then,
has been exhibiting brilliant performance, both at the domestic and
international level. Their highly advanced range includes Electric Stirrer, Sub Monoset Pumps, Electric
Motors and varied Domestic Monoblock Pumps like Single Phase Self Priming
Monoblock Pump Set, Sub Mono Oil Filled Pumps, Centrifugal Pumps, etc. Starting
with a moderate beginning, they have today expanded their business to a number
of countries from Middle East, Europe, Gulf and Africa. This extent of success
achieved as a manufacturer and exporter
has become possible due to their rich experience and the expertise
acquired in this long journey. Besides, they have also achieved the ISO 9001:2000 certification due to
their committed attitude to quality and customer satisfaction. Their highly
skilled professionals have a deeper understanding of the requirements, and
endeavor their best to provide a one stop solution for all those requirements.
Perfection at their unit is achieved through cutting edge manufacturing
technologies and follow of premium quality standard through stringent quality
control. Thus, they excel in serving with the best products and services in the
industry.
Product Range
Combining cutting edge technology with their innovative ideas, the
concern has created a niche for itself in the industry as a highly reputed
manufacturer and exporter of the following range of products-
· Electric Motors
· Electric Stirrer
· Sub Monoset Pumps
· Domestic Monoblock Pumps
- Single Phase Self Priming Monoblock Pump Set
- Sub Mono Oil Filled Pumps
- Centrifugal Pumps, etc.
They specialize in the design and production of Electric Stirrer for
domestic and industrial appliances.
Quality
Nothing else but the quality of products remains the first and foremost concern
for all of them at the concern. They are of the belief that quality is the
touchstone of success, and crave for achieving the highest quality standard in
their creations. ISO 9001:2000 and other international quality norms are
followed at every stage of the production process and the whole operation is
supervised by their team of trained quality control unit. During the
manufacturing process, only superlative quality raw materials like aluminium
casting, winding wires are used, and cutting edge technologies are applied to
meet the best quality standard. All these ensure the finest quality of the
finished products- their reliability, precision and best performance.
Infrastructure
The concern has a sound infrastructural base upon which it has been growing
rapidly while winning the trust of thousands of its clients from both the
domestic and international market. This infrastructure comprises of their
advanced facilitates for production, quality control and R and D. All these
units are equipped with hi-tech machinery and facilitate their distinguished
workforce with adequate aid in every area of their operations. Besides, they
also have a widespread business network for providing efficient service to
their highly esteemed clients.
Subject the leading Indian manufacture of Electrical motors, Curd
Breaker (Stirers), Domestic monoblock pumps and Submono Pumpset, since its
foundation in 1989. Subject has developed a marketed a wide range of product
for various applications.
The A group of subject was started in 1989. First they were manufacture
single phase and three phase Motors then in 1990 they added curd breaker
(stirrer). Since 1992 Subject started
to manufacturing Domestic monoblock pump after 3 years later at since 1995
Subject started to manufacturing
Submono pump which was the Special Products of Subject . Oil field Submono pump
and other special products are also manufacturing.
Today subject pumps provide the dependable source of pumping energy,
once used they never fail to get admiration for their superb performance and
quality from their users.
Subject products have the latest manufacturing and research facilities
and are well known for an ISO 9001:2000 Certificate of world class quality
management system it obtained in 2005.
The Trademark of the concern is registered in Trade Marks Registry, Mumbai
(India) at 13-10-1999.
Application of the latest engineering techniques and
production technology has given the products a solid reputation for quality,
efficiency and reliability.
Subject has over the years been well known as an
innovative and forward looking concern. They are very conscious of the fact
that they are living in a world on constant changes and are prepared for the
future.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.57 |
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UK Pound |
1 |
Rs.78.93 |
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Euro |
1 |
Rs.56.85 |
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 |
4 |
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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 |
2 |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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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 |
YES |
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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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25 |
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/normal. |
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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