MIRA
INFORM REPORT
|
Report Date : |
13.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
ARTECH
AUTOMATION |
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Registered Office : |
105/2-G,
R M T Bungalow Road, Sai Nagar, SIDCO Post Office, Coimbatore – 641021, Tamil
Nadu, India |
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Country : |
India |
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Financials (as on) : |
---- |
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Date of Incorporation : |
01.2007 |
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Legal Form : |
Partnership
concern with an unlimited liability of the partners. |
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Line of Business : |
Subject
is a manufacturing and project management company with facilities for
machining, castings and forgings. |
RATING & COMMENTS
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MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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Maximum Credit Limit : |
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Status : |
New
concern |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject
is a new concern and has yet to establish track. Trade
relations are fair. No payment records are available. The
concern can be considered for small to mediocre business dealings on safe and
secured trade terms and conditions, initially. |
LOCATIONS
|
Registered Office : |
105/2-G,
R M T Road, Sai Nagar, SIDCO Post Office, Coimbatore – 641021, Tamil Nadu,
India |
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Tel. No.: |
91-422-6533757 |
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Mobile No.: |
91-98949–24610 |
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E-Mail : |
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Factory
: |
195/2,
F RMT Bungalow Road, Sai Nagar, SIDCO Post Office, Coimbatore – 641021, Tamil
Nadu, India |
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This
is the parent company’s address and the CNC machining centre for both the
firm. It is situated inside the SIDCO Industrial estate and enjoys tax
benefits extended by the Tamil Nadu Government. |
PARTNERS
|
Name : |
Mr M
Bhasker |
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Designation : |
Managing
Partner |
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Date of Birth/Age : |
15
years |
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Name : |
Mrs M
Bhasker |
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Designation : |
Partner |
BUSINESS DETAILS
|
Line of Business : |
Subject
is a manufacturing and project management company with facilities for
machining, castings and forgings. |
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Products : |
Subject
offers following services
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Imports from : |
Subject
is in the process of importing Machinery from Daewoo, Korea. |
GENERAL
INFORMATION
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No. of Employees : |
15 |
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Bankers : |
Syndicate
Bank, Coimbatore |
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Banking Relations : |
Unknown |
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Parent company : |
Artech
Machining Center |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs
1.000 Millions |
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Borrowed : |
NA |
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Total : |
Rs
1.000 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
No
financials as new company
LOCAL AGENCY
FURTHER INFORMATION
Subject
belongs to Mr M Bhaskar and his wife. The parent company Artech Machining
Center was started in 2000 and the present firm Artech Automation was started in
January 2007.
Artech
Automation a manufacturing and project management company with facilities for
machining, castings and forgings has established itself as a new entry into its
field led by Mr M Bhaskar who has over 10 years experience in this field they
hope to cater to the needs of the Coimbatore industrial market and do some
exports also. They have their own CNC machining facilities and design
facilities supported by other engineers.
Today’s
market conditions demands cost effective and optimized process to produce the
best performance and durable components while meeting high quality standards.
Artech automation is focused towards a cost effective manufacturing by means of
state of art facility and process control; techniques. Artech automation provides
END to END solution from design, testing and manufacturing of all types of
machined components which makes the concurrent engineering process gel together
resulting better quality products. They have sound knowledge in manufacturing
valves and valves accessories.
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.44.09 |
|
UK
Pound |
1 |
Rs.86.59 |
|
Euro |
1 |
Rs.57.92 |
SCORE &
RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
-- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
-- |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
-- |
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--RESERVES |
1~10 |
-- |
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--CREDIT LINES |
1~10 |
1 |
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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 |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
10 |
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 |
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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 |
|
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 |
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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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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