MIRA
INFORM REPORT
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Report Date : |
29.06.2007 |
IDENTIFICATION DETAILS
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Name : |
A K AUTO INDUSTRIES |
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Registered Office : |
1361 / 20 – 21, II nd Floor, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1973 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELA15246A |
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PAN No.: [Permanent
Account No.] |
AABFA5695E |
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Legal Form : |
Sole Proprietary Concern |
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Line of Business : |
Manufacturer and Exporter of Oil Seals, Two, Three and Four Wheeler
Auto Rubber Parts and Other Automobile Parts and Accessories. |
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 6000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is well-established and reputed concern having satisfactory
track. proprietor is reported as experienced and respectable businessman. trade
relations are reported as fair. business is active. 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 : |
1361 / 20 – 21, II nd Floor, |
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Tel. No.: |
91-11-41548400 |
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Mobile No.: |
919891088633 / 919311010345 / 919910365008 / 919891717500 |
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Fax No.: |
91-11-41548400 |
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E-Mail : |
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Area : |
800 sq. fts. |
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Location : |
Owned |
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Factory 1 : |
853, |
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Tel. No.: |
91-11-27781773 / 27783535 |
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Area : |
370 sq. mt |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Anil Dutta |
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Designation : |
Proprietor |
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Date of Birth/Age : |
53 Years |
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Qualification : |
Graduate |
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Experience : |
30 Years |
KEY EXECUTIVES
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Name : |
Mr. Rahul Dutta |
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Designation : |
Chief Executive Officer |
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Date of Birth/Age : |
23 Years |
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Qualification : |
Graduate |
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Experience : |
2 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Oil Seals, Two, Three and Four Wheeler Auto
Rubber Parts and Other Automobile Parts and Accessories. |
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Products : |
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Brand Names : |
AIM |
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Exports : |
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Products : |
Oil Seals, Two, Three and Four Wheeler Auto Rubber Parts, Other
Automotive Parts And Accessories |
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Countries : |
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Terms : |
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Selling : |
Cash or credit of 30 -45 days |
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Purchasing : |
Cash or credtit of 30 - 45 days |
PRODUCTION STATUS
Capacity to increase production by: 50%
GENERAL INFORMATION
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Suppliers : |
Open Market |
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Customers : |
Complete Dewatering Systems Private Limited OE Supplier to International Tractor Limited Kurusatra Automobiles Private Limited A R D Exim – Sikandrabad |
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No. of Employees : |
20 and 15 Contract Workers |
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Bankers : |
IDBI Bank Limited, Pitampura, ICICI Bank Limited, Pitampura, |
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Facilities : |
Rs. 1.300 Millions From ICICI Bank Limited, Pitampura, |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.500 millions |
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Borrowed : |
-- |
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Total : |
Rs. 1.500 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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5.000 |
4.500 |
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Profit/Loss for the year |
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13% |
13% |
Expected Sales (2007-08) : Rs. 7.500 millions
LOCAL AGENCY FURTHER INFORMATION
As Per Website Details
Subject offers high quality Automobile Parts and
Accessories that are known for their durability and robust designing
About
Them
The automobile sector is one of the most important fields undergoing exemplary
inventions ever created by the man. It has revolutionized the modern society as
a universally known fact. Can you imagine their world today without
automobiles? Giving the right impetus to the Automotive Industry, they, Subject, started their business
process way back in the year 1973. Since the day of their successful
initiation, they have been ranked as one of the major players in the Indian automobile
industry. With due lapse of time, they have entrenched ourselves as an
unmatched manufacturer and exporter of
Oil Seals; Two, Three and Four Wheeler
Auto Rubber Parts and Other Automobile Parts and Accessories.
As a
well established and reputed manufacturer and exporter, they have leveraged
their experience and expertise to understand the market dynamics and customer
requirements in a better and more comprehensive manner, while offering
innovative products. With their focus on quality and world class service, they
have consolidated ourselves not only in
Their
Products
Innovation, flexibility, performance and versatility are the key areas of focus
in the design and development of the new products at A.K. Auto Industries.
Their impeccable quality and comprehensive range of products includes:
- Oil Seals
- Two, Three
and Four Wheeler Auto Rubber Parts
- Other
Automotive Parts and Accessories.
Their
Quality
Their products have set a benchmark in the industry owing to their performance,
durability, reliability and outstanding quality. Every single product that
leaves their production line bears the hallmark of quality and consistency.
Strict quality control procedures are followed and strict vigil is maintained
at each and every level of the production process, right from the selection of
raw materials to final development of equipments. All the products, thus
manufactured are subjected to various tests in order to monitor and enhance
their efficiency. Apart from their thoroughly tested range of products, they
are also recognized for their world class services.
Why
They?
- In-depth industry expertise and
knowledge of all the latest changes in technology as well as customer
preferences
- State-of-the -art infrastructure, well
equipped with sophisticated and ultra modern machines, which yield
excellent results at low maintenance cost
- A competent team of astute, proficient
and experienced technocrats, quality conscious professionals and trained
workers
- Cost down production techniques and
streamlined production process to offer extremely competitive prices to
the customers
- Wide distribution network and excellent
transport facilities to ensure the customers of safe, smooth and prompt
delivery of products
- Spacious and technologically advance
warehouse with the capability to store bulk amount of products as per
specific requirements of the customers.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.40.75 |
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1 |
Rs.81.63 |
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Euro |
1 |
Rs.54.79 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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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47 |
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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