MIRA
INFORM REPORT
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Report Date : |
15.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
INSA
WEIGHING AND AUTOMATION |
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Registered Office : |
F/12, Shantinagar Industrial Estate., Plot 4-B,
Shantinagar, Vakola, Santacruz (East), Mumbai - 400 055, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
2004 |
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Legal Form : |
Sole
Proprietory Concern |
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Line of Business : |
Manufacturer
of Weighting Systems and Process Automation under subject brand. |
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
5000 |
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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 small 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
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Registered Office / Factory : |
F/12, Shantinagar Industrial Estate., Plot 4-B,
Shantinagar, Vakola, Santacruz (East), Mumbai - 400 055, Maharashtra,
India |
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Tel. No.: |
91-22-56959193
/ 56959194 |
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E-Mail : |
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Website : |
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Area : |
1800
sq. ft. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr.
Santosh S Korgaonkar |
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Designation : |
Proprietor
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Date of Birth/Age : |
55
Years |
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Qualification : |
Graduate
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Experience : |
+ 30
Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer
of Weighting Systems and Process Automation under subject brand. |
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Exports to : |
Weighting
systems and process automation to Nigeria, Singapore and USA |
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Imports from : |
USA,
Singapore and Germany |
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Terms : |
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Selling : |
Cash
and Credit |
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Purchasing : |
Cash
and Credit [30 days] |
GENERAL
INFORMATION
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Customers : |
End
Users |
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No. of Employees : |
10 |
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Bankers : |
Bank
of Baroda Vile
Parle [East], Mumbai – 400058 |
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Facilities : |
The
concern donot enjoy any facility from its bankers. |
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Banking Relations : |
-- |
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Associates/Subsidiaries : |
Raj
and Company -
Mumbai - Manufacturers for furniture parts |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
0.500 Millions |
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Borrowed : |
-- |
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Total : |
Rs.
0.500 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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2.200 |
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Expected
Sales for March 2007 Rs. 2.500 Millions and for March 2008 Rs. 10.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference
- Larsen and Toubro Limited
- Grindwell Norton [India]
Limited
- Saint-Gobain Glass Limited,
Mumbai
As Per Website
THREE COMPONENT BATCHING SYSTEM
1. Main panel fabricated out of
14 gauge CRCA sheets.
2. External finish - Powder coating with Siemens Grey shade.
3. Acrylic window for viewing parameters and Voltages/Currents.
4. Separate Backlit LCD displays for three different ingredients.
5. Serial/Parallel Batching Systems available.
6. Operating Controls accessible without opening the panel.
7. On line View mode - permits to view any parameter without disturbing the
process.
8. Settable Ultimate limits for all the parameters.
9. Micro Controller based system, highly reliable.
10. User friendly
11. Accuracy better than 0.25 %
12. Suitable for lumps, powders, granules or liquids.
13. Application in Cement, Steel, Chemical, Pharmaceutical, Detergent, food,
Plastic, Ceramic Industries or an
Industry where multiple ingredients are to be mixed in Gravimetric/ Volumetric
Proportion.
WEIGH FEEDER MAIN PANEL
1. Main panel fabricated using extruded sections/CRCA sheets duly powder coated
with Siemens grey or 631 shade .
2. Large size ( 8 mm) Backlit LCD display for parameter values.
3. Access to Program mode through PASS WORD.
4. Modular construction/encased controller for ease of maintenance.
5. Capacity 10 Kg/Hour to 100 Tonnes/Hour
6. Accuracy 0.5 % or better depending upon material characteristics.
7. Micro controller based systems ensures highest possible reliability.
8. User friendly.
9. Use of reputed make components/parts.
10. MTBF rate less than 0.01 %.
WEIGH FEEDER MECHANICALS
1. Main frame from MS channels.
2. Crowned Pulleys, Rubberized drive pulley.
3. Screw take up unit for belt tensioning and centering.
4. Belt scrapers.
5. Machined Weigh idler set.
6. Load cells in Aluminum housing.
7. Speed transducer directly coupled to motor for high resolution.
8. Life time lubricated idlers
9. Nylon-Nylon or /PVC belt with vulcanized joint food grade belt also
available.
10. AC or DC motors for driving the belt - Customer’s choice.
11. Capacities 10 Kgs/Hr – 100 Tones / Hr.
12. Accuracy 0.2 – 0.5 % depending upon
material characteristics.
13. Pre feeder - optional depending upon material characteristic
14. Different type of feeding devices for liquids.
15. Special linings for corrosive & abrasive ingredients.
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 |
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UK
Pound |
1 |
Rs.86.59 |
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Euro |
1 |
Rs.57.92 |
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 |
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 |
YES |
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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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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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