MIRA
INFORM REPORT
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Report Date : |
17.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
BUDHAN
ENGINEERINGS PRIVATE LIMITED |
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Registered Office : |
2-1-146,
Nallakunta, Hyderabad – 500044, Andhra Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2001 |
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Date of Incorporation : |
05.07.1996 |
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Com. Reg. No.: |
01-24547 |
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CIN No.: [Company
Identification No.] |
U29309AP1996PTC024547 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
HYDB01066C |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Manufacturer of Cigarette Packet Wrapping Machine, Web Offsite
Printing Machine Spare Parts. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
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Status : |
Small
Company |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
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Comments : |
Subject
is a relatively small company having satisfactory track. Directors are
reported as experienced and respectable businessmen. Trade relations are
reported as fair. Business is active. Payments are however reported as
usually correct and as per commitments. The
company can be considered for small business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
2-1-146, Nallakunta, Hyderabad – 500044, Andhra Pradesh, India |
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Corporate
Office : |
Plot No: 18/B. IDA, Balanagar, Hyderabad-500037, A.P, India |
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Tel.
No.: |
91-40-23073440, 23073050 |
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Fax
No.: |
91-40-23073044 |
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E-Mail
: |
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Factory
1 : |
6-6-99 Kavadi Guda, Secunderabad – 500080, India |
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Tel.
No.: |
91-40-27535648 |
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Mobile
No. : |
91-9849007744 |
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Fax
No.: |
91-40-27534094 |
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E-Mail
: |
DIRECTORS
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Name : |
Mr. G.R. Venugopala Chary |
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Designation : |
Managing Director |
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Address : |
2-1-146, Nallakunta, Hyderabad – 500044, Andhra Pradesh, India |
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Date of Birth/Age : |
21.10.1942 |
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Date of Appointment : |
05.07.1996 |
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Name : |
Mr. R.V. Vinay Gopal |
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Designation : |
Director |
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Address : |
2-1-146, Nallakunta, Hyderabad – 500044, Andhra Pradesh, India |
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Date of Birth/Age : |
04.01.1970 |
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Date of Appointment : |
05.07.1996 |
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Name : |
Mrs. Kalyani
Gopal |
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Designation : |
Director |
MAJOR SHAREHOLDERS
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Names
of Shareholders |
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No. of Shares |
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Mr. G.R. Venugopala Chary |
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153000 |
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Mr. R.V. Vinay Gopal |
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52000 |
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Mrs.
Kalyani Gopal |
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1000 |
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Total |
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206000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Cigarette Packet Wrapping Machine, Web Offsite
Printing Machine Spare Parts. |
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Products : |
Printing And Packaging Automatic
Wrapping Machines Wrapping Machinery And Systems |
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Exports to : |
Bangladesh,
UK, USA, Thailand and Jordan |
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GENERAL
INFORMATION
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Bankers : |
Bank
of India, Azamabad Branch, Hyderabad |
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Banking Relations : |
-- |
CAPITAL STRUCTURE
As on 31.03.2006
Authorised
Capital :
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No.
of Shares |
Type |
Value |
Amount |
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210000 |
Equity
Shares |
Rs. 10/- each |
Rs. 2.100 Millions |
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Issued,
Subscribed & Paid-up Capital :
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No.
of Shares |
Type |
Value |
Amount |
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206000 |
Equity
Shares |
Rs. 10/- each |
Rs. 2.060 Millions |
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FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
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SOURCES OF FUNDS |
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31.03.2001 |
31.03.2000 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.060 |
0.060 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.000 |
0.000 |
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4] (Accumulated Losses) |
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[0.013] |
[0.010] |
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NETWORTH |
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0.047 |
0.050 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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0.047 |
0.050 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
0.000 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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Sundry Debtors |
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Cash & Bank Balances |
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0.044 |
0.046 |
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Other Current Assets |
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Loans & Advances |
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Total Current Assets |
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0.044 |
0.046 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.010 |
0.010 |
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Provisions |
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Total Current Liabilities |
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0.010 |
0.010 |
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Net Current Assets |
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0.034 |
0.036 |
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MISCELLANEOUS EXPENSES |
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0.013 |
0.014 |
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TOTAL |
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0.047 |
0.050 |
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KEY
RATIOS
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PARTICULARS |
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31.03.2001 |
31.03.2000 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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0.21 |
0.20 |
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Current
Ratio (Current
Asset/Current Liability) |
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4.40 |
4.60 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers
Charges Report as per Registry
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Name of the company |
BUDHAN ENGINEERINGS PRIVATE LIMITED |
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Presented By |
Mr. G.R. Venugopala Chary |
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Amount secured by the charge/amount owing on the securities of charge |
Rs.
1.000 Millions |
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Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
All
tangible assets including in particulars all raw materials like allay steel,
spring steel, bram, aluminium, semi-finished goods, finished goods,
engineering machine, spare and previous machinery used in packing wrapping etc. |
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Gist of the terms and conditions and extent and operation of the charge. |
Cash
credit account with Hypothecation of Stock and Book Debts Rate
of interest is 4 % over BOIPLR Minimum 11 % |
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Name and Address and description of the person entitled to the charge. |
Bank
of India Azamabad
Branch Hyderabad
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Date and brief description of instrument modifying the charge |
Nil |
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Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Nil |
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Name of the company |
BUDHAN ENGINEERINGS PRIVATE LIMITED |
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Presented By |
Mr. G.R. Venugopala Chary |
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1) Date and description of instrument creating the change |
2001,
Agreement Hypothecation of tangible property of tangible plant and machinery,
charge of book debts loan agreement. |
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2) Amount secured by the charge/amount owing on the securities of charge |
CC
Limit of Rs. 1.000 Millions and Loan of Rs. 0.800 Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
All
tangible movable assets including in particulars all raw materials like alloy
steels, spring steel, brass aluminium materials semi finished goods, finished
goods engineering machine sparest precision machinery used in packing and
working of aggrades and raw and building at 6-6-99 at Kawadi Guda,
Secunderabad |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Cash
Credit Account with Hypothecation Stock and Book Debts, Rate of Interest is 4
% over PLR Min 16 % and term loan interest over 45 % PLR min 16.5 %
reprievable is 84 monthly instalments of
Rs. 9524/- + Interest |
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5) Name and Address and description of the person entitled to the charge. |
Bank
of India Azamabad
Branch Hyderabad
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6) Date and brief description of instrument modifying the charge |
22/11/2003
Supplemental to the agreement of hypothecation and charge and hypothecation
of book debts. |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
The CC
Limit enhanced loan Rs. 1.000 Millions to Rs. 2.000 Millions as under
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Industry Focus
Packaging,
filling and dosing machinery for solid, granular an fragmented materials,
packaging machinery, tobacco, cigarette packaging machinery and equipment,
metal machining contractors, machining services for ferrous metals to customer
specification, machining services for non-ferrous metals to customer
specification.
Turnover
: Rs. 7.000 Millions [2003]
Members
of Association : FAPCCI, EEPC
Quality
Assessment : ISO 9002
An Overview
Budhan Engineerings was incorporated in year 1982 by
Mr. G. R. Venugopal, who after a service of in a renowned cigarette
manufacturing company in India, with the rich engineering practical working
experience in maintenance, overhauling, development of new products, modification,
upgrading had entered in the manufacturing business.
The promoter has undertaken manufacturing of various types of critical and
technology based components, sub assemblies, import substitutes, turnkey
project jobs of modifications required mainly to cigarette companies and
printing machines and web offset.
The company entered exclusively in the manufacturing of Wrapping Machines, High
Speed Wrapping Machines, Automatic Wrapping Machines, Pneumatic Wrapping
Machines, Tow Opener, Masking Machine etc, to wrap cigarette packets with BOPP
film for the last 10 years. The company has so far manufactured 80 high speed
wrapping machines of which 13 machines have been supplied to M/s. VST
Industries Ltd. here in Hyderabad and exported large number of machines to
Bangladesh to U.A.E., Europe, U.K and Indonesia. The company has now developed
a totally automatic machine with auto infeed system, pneumatic activated side
heaters and with many more safety features to match with the international
standards. The company is now comfortable with good number of orders from Far
East, Middle East, Europe And U.K.
The company's another director Mr. R.V. Vinai Gopal who is highly experienced
practical engineer having exposure in the manufacturing line, for designing
& development activity and monitors quality control with equally qualified
personnels.
The company is exporting sub assemblies to M/s. Filtrona Filters at Jarrow-UK,
USA, Thailand and Jordan. The company is having adequate infrastructure to
produce continuous production of high precision and quality machine to stay in
the international market. The company aspires to work with overseas
partnership.
The company's goal is quality in quantity and perfection in performance. It
believes in the principle that the customer should get more than the value
paid.
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Main Drive |
1 HP 3 Phase Geared Motor 440 Volts Variable speed
control through AC drive Machine Load 1.5 KVA approx. |
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Output |
180 to 200 Packets per minute for 20's Hinge Lid
Packet ( Wrapex-200) 280 to 300 packets per minute for 10's x 84 mm packet
(Wrapex-300) |
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Feeding |
Auto Infeed ( Feed Conveyor to be attached at site
by the user ) |
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Turret Movement |
By sealed Indexing Gear Box with oil bath |
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Cutter Head |
Detachable and Inter Changeable |
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Static Charge Eliminator |
Not required |
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Vacuum |
Not required |
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Compressed Air |
Required |
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Collation at Exit |
As desired by Customer |
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Length |
270 cm ( 2.7 Metres) |
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Width |
70 cm (0.7 Metres) |
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Height |
167 cm (1.67 Metres) |
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Weight |
Approx 1.3 Tonne plus |
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Bobbin Core |
3" Bore 76.20 mm |
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Side Heaters |
Moving Through Pneumatic System |
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BOPP |
30 m.m |
Features
» Machine is incorporated with Auto Infeed System, which senses the
incoming packets and operates automatically and accordingly.
» If there is film jam in between Pulling & Pressure Rollers, the
machine stops automatically to prevent the wastage of film as well damage to
the Pressure Roller
» If packet gets jam at entry point of
Turret Groove the machine stops automatically.
» There is fine air pressure applied to the BOPP film while being cut by
Fixed and Rotary Knives to prevent getting stuck up and also allows the film to
drop straight down to accommodate packets in pre-determined position.
» Apart from Swing Heater an additional heater is accommodated to get
the best sealing of both ends of the film length with a good overlap with
wrinkle free.
» Side folding (Top & Bottom of the packet) is neatly folded with
particular profile of folders.
» Side Heaters are fitted with Pneumatic system to make the heater move
backward to create a comfortable gap when machine stops for any reason so that
the packets on the track do not damage the folding position (or over burnt).
» If TOR is missing the machine stops.
» Bottom and Top Hot Plates ( Heater ) are fitted to allow the packets
to pass in between while the Top Hot Plate moves up and down to allow the
movement ( prevent the rubbing ) of packets so that the best quality of
wrapping is achieved. This will ensure total wrinkle free wrapping preferably
on Hinge Lid packets.
» Four packet collation at exit through
Pneumatic system .
» Electrical wiring with color code, numbering of every point of
connection. International branded equipment is used including Pneumatic System.
Assurance
They are on a never ending quest of perfection. They
ensure that all their products are of premium quality. They undertake
inspections and do quality checks on their products before delivering them to
Customer.
Facilities
Their infrastructure plays an important role in enabling them to meet
the exacting requirements & standards of the industry. They have a well
equipped production unit backed by hi-tech machines and latest technology. They
owe their success to their extensive research capabilities coupled with staff
members who posses rich experience in their sphere of operations.
Combined with the zealous efforts, motivation and technical skills, their
organization has a satisfied customer base which is spread all over the globe.
Their goal is quality in quantity and perfection in performance. They believe
that the customer should get more than the value paid.
They are exporting sub assemblies to M/s. Filtrona Filters at Jarrow-UK &
also to clients based in USA, Thailand and Jordan. They solicit partnerships and
collaborations with businesses across the globe.
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.44.20 |
|
UK
Pound |
1 |
Rs.86.28 |
|
Euro |
1 |
Rs.58.22 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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|
|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
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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 |
|
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 |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
34 |
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/normal. |
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 |
|