MIRA
INFORM REPORT
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Report Date : |
07.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
EFFICIENT
ENGINEERING PRODUCTS |
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Registered Office : |
S. F.
No.135/1-A, Krishna Nagar, Sowripalayam Post, Coimbatore-641028, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1990 |
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IEC No.: |
3298024805 |
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TIN No.: |
33891821068 |
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PAN No.: [Permanent
Account No.] |
ACGPD9330C |
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ECC No. : |
ACGPD9330CXM001 |
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Legal Form : |
Sole
Proprietory Concern |
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Line of Business : |
Manufacturers
of Aluminium Alloy Castings and Industrial Sub Assemblies. |
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
20000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Usually
correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established concern having satisfactory track. Trade relations are fair. Payments are usually correct and as per
commitments. The concern is doing steady business. It can
be considered normal for business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered Office/ Factory : |
S.F.
No.135/1-A, Krishna Nagar, Sowripalayam Post, Coimbatore-641028, Tamilnadu,
India |
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Tel. No.: |
91-422-2580411/
6586515 |
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Mobile No.: |
91-9894057894 |
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Fax No.: |
91-422-2580449 |
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E-Mail : |
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Website : |
http://www.efficientindustries.com |
SOLE PROPRIETOR
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Name : |
Mr. G.
Dhatchanamoorthy |
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Designation : |
Proprietor |
BUSINESS DETAILS
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Line of Business : |
Manufacturers
of Aluminium Alloy Castings and Industrial Sub Assemblies. |
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Products : |
Machine
Shop : CNC
Machine CNC-VMC-720
DAHLIH Machinery Industry
Company Limited- Taiwan : 1 No. Turning
Centre DAEWOO make – Turning diameter 420 : 1 No. ARGO
Make CNC Vertical Machining Center Model A-90 : 1 No. Lathes 4.5” ×
6” Center Lathe : 1 No. 7” ×
12” Center Lathe : 1 No. 7” ×
10” Center Lathe : 1 No. Milling
Machine Golden
Star Brand No. 4 Universal Milling Machine with vertical Tunet Milling Head :
1 No. Ram-
Type Milling Machine with DRO Facility (M1TR-TYPE-TAIWAN MODEL) : 1 No. Drilling
Machine PTI
Brand 1” capacity Drilling Machine : 1 No. KMV
Brand 1” capacity Drilling Machine : 1 No. EIFCO
make Pillar type Drilling Machine Model P2/25/GTA/OCT with 2HP 1440 RPM Motor
with Tapping arrangement : 1 No. Grinding
Machine PNEUMATIC
Tool Grinder : 1 No. KMV
Brand bench Grinder : 1 No. 62.5
KVA generator Set 5HP
Air Compressor : 1 No. Foundry
Machineries Oil
Fired Crucible Furnace Capacity 100.000g / Charge with Blower : 4 Sets Band
Saw Cutting Machine – Vertical : 2 Nos. Power
Hacksaw Cutting Machine : 1 No. Core-
Sand Mixture : 1 No. 15HP
Air Compressor : 1 No. Belt
Sandering Machine : 2 Nos. 62.5
KVA Generator Set : 1 No. |
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Exports to : |
Italy,
Germany, U.S.A., Japan and Indonesia |
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Imports from : |
Korea
and China [Machinery] |
GENERAL
INFORMATION
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Customers : |
International
Customers : Ø
Dresser
Italia, Italy Ø
S
& V Industries Inc, USA Ø
Dresser
Flow Control, USA Ø
Rhein
- Getricbe GMBH, Germany Ø
Niigata
Masoneilan Company Limited, Japan Ø
Cooper
Cameron, Valves Italy-Ledeen Faculty, Italy Ø
Dresser
Machinery (Suzhou) Company Limited, China Domestic
Customers : Ø
Auma
India Private Limited, Bangalore Ø
Crafts
Man Automation Private Limited, Coimbatore Ø
Dresser
Valve India Private Limited, Coimbatore Ø
Instrumentation
Limited, Palakkad Ø
Kerala
Agro Machinery Corporation Limited, Kalamassery Ø
Kerala
Automobilities Limited, Tiruvandram Ø
Larsen
& Toubro Limited, Mysore Ø
Elgi
Electric & Industries Limited, Coimbatore Ø
Vickers
International Systems, Pune Ø
Lakshmi
Precision Tools Limited, Coimbatore Ø
Elgi
Equipments, Coimbatore Ø
Souriau
India Private Limited, Cochin Ø
Elomatic
[India] Private Limited, Pune Ø
Kerala
Auto Limited Ø
Lakshmi
Synthetic Machinery Manufacturers Limited Ø
Lakshmi
Automatic Loom Works Limited Ø
Sanmarco
Castings Limited Ø
Wipro
Ge Medical Systems Limited |
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No. of Employees : |
55 |
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Bankers : |
State
Bank of India DBD
Main Branch, State Bank Road, Coimbatore – 641018 Account
No. : 10869399444 Swift
No. : SBININBB294 |
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Banking Relations : |
Satisfactory
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CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
5.000 millions |
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Borrowed : |
-- |
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Total : |
Rs.
5.000 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
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Particulars |
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31.03.2006 |
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Sales Turnover |
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40.000 |
LOCAL AGENCY
FURTHER INFORMATION
The firm
are manufacturers of Aluminium Alloy Castings and Industrial Sub Assembles. The
firm was established in the year 1990. They are engaged in the following
activities :
Tool
Making
Aluminium
Castings
Industrial
Sub Assemblies
General
Machining
Tool
room
They
manufacture Gravity and Pressure Die Casting tools in their tool room. Their
tool room is equipped with sophisticated machineries. They have more than 25
years of experience in this field and have developed a lot of import substitute
and critical components. They can provide tools with good accuracy and better
productivity.
Aluminium
Castings
They
have Aluminium Gravity Die casting foundry facilities. They have skilled man
power and good infrastructure to produce Aluminium Gravity Die castings. Their
installed capacity is 50tones per month. At present they are manufacturing
Aluminium Gravity castings at 20 tones per month and have a spare capacity of
30 tones of aluminium castings per month. Their castings are proven for quality
and they are directly exporting to many countries including Italy, Germany,
USA, Japan and Indonesia.
They
make aluminium casting as per various international standards such as IS, BS,
DIN, ASTM etc., They have spectrograph facilities in Coimbatore for testing
Chemical composition of Aluminium Alloy and castings can be supplied with Test
Certificate. The weight of casting they produce ranges from 0.1 KG. to 35 Kg.
and above per single piece. Aluminium castings can be supplied in Fully Heat
Treated Condition also.
Industrial
Sub - Assemblies :
They are
manufacturing industrial sub-assemblies as per customer specifications.
Coimbatore is having lot of foundry facilities for ferrous and non ferrous
castings and sourcing of components can be done in economical and cost
effective way. Hence they can make sub-assemblies as per customer’s
specification with various manufacturing process such as Casting Forging,
Fabrication, Machining etc. At present they are supplying hand wheel Sub-
Assemblies to control valve industries.
General
Machining
They
have machine shop facilities to supply components in machined condition. They
have precision gauges and instruments to maintain Quality at every stage. They
are having Vertical Machining Centre; Turning Centre for Tool making and
Precision machining.
Presently
they supply components for the following industries :
Ø
Textile
Ø
Automobile
Ø
Switch
Gear
Ø
Control
Valve
Ø
Chemical
Ø
Food
Processing
Ø
AGRO
Machinery etc.
Production
depends upon orders.
WEBSITE
DETAILS
Efficient
Engineering group of companies, found in 1992, has over a decade of expertise
in manufacturing high precision industrial castings.
Efficient
Engineering has expertise and specializes in the field of high precision and
sensitive Aluminium gravity die castings [Permanent Mould Casting] giving us a
clear distinct edge in the industry.
Efficient
Engineering is a team of young and energetic Mechanical Engineering graduates
highly experienced in Aluminium gravity die casting [Permanent Mould Casting]
industry and are associated with leading Engineering Industries in India and
abroad that gives Efficient Engineering a paramount of importance in these
industries.
Efficient
Engineering is located at Coimbatore city in the Southern part of India. Coimbatore has a good location advantage
with skilled manpower, pleasant weather and is well connected by rail, road and
air routes. The shipments are handled
through three major ports at Chennai, Cochin and Tuticorin that are situated
within 500 KMs from Coimbatore.
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.44.06 |
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UK
Pound |
1 |
Rs.86.34 |
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Euro |
1 |
Rs.57.46 |
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
YES |
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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/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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