MIRA INFORM REPORT

 

 

Report Date :

31.12.2007

 

IDENTIFICATION DETAILS

 

Name :

AUTO GEAR (INDIA)

 

 

Registered Office :

E-675, RIICO Industrial Area, Phase-II, Sector 25, Bhiwadi, Dist. Alwar, Rajasthan

 

 

Country :

India

 

 

Financials (as on) :

31.03.2007

 

 

Date of Incorporation :

1988

 

 

IEC No.:

0504001116 dated April 6, 2004

 

 

PAN No.:

[Permanent Account No.]

AAAPS4688Q

 

 

Legal Form :

Sole Proprietory Concern

 

 

Line of Business :

Manufacturer and Exporter of Transmission Gear Parts, Shaft, Shaft Collars , Steering Parts and Components.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 100000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well established concern having satisfactory track. Trade relations are fair. Payments are usually correct and as per commitments.

 

 

The concern can be considered normal for business dealings at usual trade terms and conditions.

 

 

LOCATIONS

 

Registered Office / Factory:

E-675, RIICO Industrial Area, Phase-II, Sector 14, Bhiwadi, Dist. Alwar, Rajasthan

Tel. No.:

91-9352532051

Mobile No.:

91-9810011659

E-Mail :

agi@autogearindia.com

autogearindia@yahoo.com

Website :

http://www.autogearindia.com

Area :

4000 Sq. Yards

Location :

Leased (Industrial)

 

 

SOLE PROPRIETOR

 

Name :

Mr. Arvinder Singh

Designation :

Proprietor

Address :

A 26, Mansarovar Garden, New Delhi-110 015

Mobile No.:

91-9810011659

Date of Birth/Age :

08.04.1965

Qualification :

B.E.

Experience :

18 years

 

 

KEY EXECUTIVES

 

Name :

Mr. Arvinder Singh

Designation :

Finance and Administration Work

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Transmission Gear Parts, Shaft, Shaft Collars, Steering Parts and Components.

 

 

Products :
  • Main Drive Gear
  • Crown Wheel and Pinion
  • Counter Gear
  • Auto Transmission Gears
  • Planetary Gears
  • Gear Parts
  • Steering Components
  • Heavy Duty Gears
  • Shafts
  • Auto Components
  • Cluster Gears
  • Gear Router
  • Sleeve
  • Drive Gear
  • Synchronizer Inner
  • Counter Gear
  • Steering Shaft
  • 1st Speed Gear Willys Jeep
  • 2nd Speed Gear Willys Jeep
  • Main Drive Gear Willys Jeep
  • Counter Gear Willys Jeep

 

 

Brand Names :

AGI

 

 

Exports to :

USA

 

 

Terms :

 

Selling :

v      International Market : TT and Irrevocable Letter of Credit Basis

v      Domestic Market : Credit (60 to 90 days)

 

 

Purchasing :

Credit Basis : 60 days

 

 

GENERAL INFORMATION

 

Customers :
  • Wholesalers
  • OEM’s

 

 

No. of Employees :

40

 

 

Bankers :
  • Punjab National Bank, Punjabi Bagh Branch, New Delhi-110 026
  • Canara Bank, Tri Nagar Branch, New Delhi-110 015

 

 

 

Banking Relations :

Satisfactory

 

 

Auditors :

 

Name :

Verma and Company

Chartered Accountants

Address :

Faridabad

 

 

CAPITAL STRUCTURE

 

 

Capital Investment :

 

Owned :

Rs.20.000 Millions

Borrowed :

Rs.5.000 Millions

Total :

Rs.25.000 Millions

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

31.03.2007

31.03.2006

31.03.2005

Sales Turnover

30.000

27.500

22.500

 

 

 

 

Profit/(Loss) Before Tax

NA

0.894

0.702

Provision for Taxation

NA

0.144

0.177

Profit/(Loss) After Tax

NA

0.750

0.525

 

Expected Sales (2007-08) : Rs.40.000 Millions

 

Note:

 

The subject is a Non-Incorporated business entity and thus not obliged to file any information on itself with any Official Authority (Registrar of Company) open for public inspection. The above-mentioned information is obtained directly from the subject itself but the subject could not substantiate it by providing audited financial statements like Balance Sheet and Profit & Loss A/c.

 

KEY RATIOS

 

PARTICULARS

 

 

 

31.03.2006

31.03.2005

PAT / Total Income

(%)
 

2.72

2.33

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
 

3.25

3.12

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
 

21.43

19.09

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Operations:

 

The subject was established in 1988. The subject is engaged in the business of Manufacturers of Heavy Duty Gears, Shafts, Steering Components and Crown Wheel Pinions for Jeep, Tractors, LMV’s and Trucks. Subject is an ISO 9001 Certified company.

 

Trade Reference

 

 

Website Details

 

Subject is engaged in the manufacture of a diverse range of High quality & Heavy Duty Gears, Shafts and Steering Components for vehicles like Jeep, Tractor, Lcvs, and Trucks.

 

Subject is well known for its quality at most competitive prices in today’s market. This is the reason that it has carved a special niche for itself as a quality conscious Automotive Components Manufacturer.

 

Subject has the necessary infrastructure to manufacture all type of gears, shafts and steering components as per the exact specifications of its rapidly growing clientele all over the country. All the components are manufactured on precision guided state-of-the-art machines.

 

 

 

 

The Q.C. Division of the Company ensures that each component is subjected to all specified Q.C. tests before it is packed and shipped. The self involvement of its dynamic management in the production process further ensures quality. Team of subject’s consists of seasoned technocrats who supervise the entire production process.

 

Its solid infrastructure, experience and reliability makes subject a concern can depend upon for high quality gears, shafts and steering components as per yours exact specification.

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.39.44

UK Pound

1

Rs.78.73

Euro

1

Rs.57.69

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--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

 

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

 

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

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions