MIRA
INFORM REPORT
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Report Date : |
17.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
MARCOTEX
ENGINEERS AND CONSULTANTS |
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Registered Office : |
25-A, Podar Chambers, S.A. Brelvi Road, Fort, Mumbai - 400001,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1971 |
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Legal Form : |
Sole
Proprietory Concern |
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Line of Business : |
Manufacturing
and Servicing of air-conditioning and
refrigeration, HVAC, compressor and spares, repairing and overhauling, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
10000 |
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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 an established concern managed by Mr. N V Parekh who has lot of experience
in his field. His trade relations are fair. Payments are usually correct and
as per commitments. Nothing adverse reported. The
concern can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office : |
25-A, Podar Chambers, S.A. Brelvi Road, Fort, Mumbai - 400001,
Maharashtra, India |
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Tel. No.: |
91-22-22661652 / 22664808 / 22641379 |
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Mobile No.: |
91-9820027269 |
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E-Mail : |
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Website : |
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Area : |
600
sq. ft. |
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Location : |
Rented
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Workshop
: |
36,
Ganga, Tungareshwar Industrial Estate, Sativali, Vasai [East] |
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Tel.
No.: |
25084-2480681 [Shared
with sister concern] |
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Area : |
Owned |
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Location : |
2000
sq. ft. |
SOLE PROPRIETOR
|
Name : |
Mr. N
V Parekh |
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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 : |
35
Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturing
and Servicing of air-conditioning and
refrigeration, HVAC, compressor and spares, repairing and overhauling, etc. |
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|
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Products : |
·
Air-conditioning and Refrigeration ·
HVAC & Related Services ·
Compressor and Spares
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Exports to : |
U.K., Spain, France, U.A.E., Bangladesh, South
Africa, South East Asia, Nepal and Turkey |
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Terms : |
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Selling : |
On
contract basis |
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Purchasing : |
On
contract basis |
GENERAL
INFORMATION
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Customers : |
End
Users Encompasses the Shipping, Pharmaceuticals, Power,
Cold Storage Defense Railway and other sectors |
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No. of Employees : |
10 |
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Bankers : |
Bank
of India Vile
Parle [West], Mumbai |
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Banking Relations : |
-- |
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Associates/Subsidiaries : |
Air
Control Compressor Equipments -
Vasai -
Manufacturer
of Compressor ‘MARCOMP’ |
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Memberships : |
NSIC,
SSI, ISO-9001 |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Not
Available |
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Borrowed : |
Not
Available |
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Total : |
-- |
FINANCIAL DATA
[all figures are in Rupees
Millions]
|
Particulars |
|
|
31.03.2006 |
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Sales Turnover |
|
|
15.000 |
Expected
Sales for March 2007 Rs. 20.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference
- Asea Brown Boveri, Mumbai
Dealing in OEM replacement spare parts in the arena of
air-conditioning and refrigeration since 1971.
Established in the year 1971, Marcotex Engineers & Consultants is engaged
in the production and service of air-conditioning and refrigeration, HVAC,
compressor and spares, repairing and overhauling, etc. They deal in the trade
of original equipment manufacturing and replacement of spare parts of various
makes and models such as Sabroe (Accel/Acceil), Grasso (Kirloskar), Carrier
(Voltas), Daikin (Baltiboi), Stal, Trane Bock, to name a few.
Features
With their experience and expertize, they understand
the requirements of their valued customers and customize their services
accordingly. With two production lines, and domestic and international distribution
and service network, they have an incredible track record of completing
projects before schedule. Their most important business tradition is their
complete after-sales service.
Products & Services
They are a one stop shopping center for many industrial cooling related
products and services. Industry majors consult us for expert tips on the
application and implementation of a number of projects.
Infrastructure
Their infrastructure is well managed by a group of professionally qualified
management personnel. They have a spacious ware house and two separate
production lines for compressor and spares facility to meet the expectations of
the consumers in the domestic market as well as overseas market.
Major Clients
Their one to one dedicated service and industry
leading price tag has positioned us as the industry leader worldwide. It is a
privilege to serve some of the blue chip and multinationals spread across
continents. They have a strong market share in the highly competitive European
markets like Spain, France & United Kingdom. They have also consolidated
their selves in the price sensitive volatile business regions like U.A.E.,
Bangladesh, South Africa, South East Asia, Nepal and other countries. They have
also successfully undertaken the challenging repairing, overhauling and
servicing of turnkey projects. Some of their major prestigious clients include
encompasses the Shipping, Pharmaceuticals, Power, Cold Storage Defense Railway
and other sectors.
|
Company Profile |
|
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Business Type |
Exporter , Manufacturer , Importer , Trading Company
, Service Provider , Supplier |
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Export Percentage |
35 |
|
Import Percentage |
As per requirement |
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Sales Volume |
Rs. 50 Millions |
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No of Staff |
30 |
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Year of Establishment |
1971 |
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No of Production Lines |
2 |
|
Investment on Manufacturing Equipment |
6 million |
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 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.44.27 |
|
UK
Pound |
1 |
Rs.86.87 |
|
Euro |
1 |
Rs.57.27 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
|
46 |
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 |
|
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 |
|
<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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