MIRA
INFORM REPORT
|
Report Date : |
03.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
MICRO MECH INDUSTRIES |
|
|
|
|
Registered Office : |
New |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
2004 |
|
|
|
|
Legal Form : |
Partnership Concern with an Unlimited Liability of the partners. |
|
|
|
|
Line of Business : |
Manufacturer of Pumps |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
Maximum Credit Limit : |
USD 2000 |
|
|
|
|
Status : |
Small Concern |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a small manufacturer of pumps. It’s trade relations are
fair. Payments are reported as slow but correct. The concern can be considered
for small to mediocre business dealings at usual trade terms and conditions. |
LOCATIONS
|
Registered Office/Factory : |
New |
|
Tel. No.: |
91-22-28782158 |
|
Mobile No.: |
91-9819288771 / 9819429777 |
|
E-Mail : |
|
|
Area : |
500sq.fts |
|
Location : |
Rented |
|
|
|
PARTNERS
|
Name : |
Mr. Mustak Ismail Garagedia |
|
Designation : |
Partner |
|
Date of Birth/Age : |
30 Years |
|
Qualification : |
Graduate |
|
Experience : |
10 Years |
|
|
|
|
Name : |
Mr. Mustakin Ismail Garagedia |
|
Designation : |
Partner |
|
Date of Birth/Age : |
31 Years |
|
Qualification : |
Under Graduate |
|
Experience : |
12 Years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Pumps |
|
|
|
|
Products : |
Industrial Centrifugal plastic Pumps, Micro Mech Pumps |
|
|
|
|
Brand Names : |
MIPP |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit (30 days) |
|
|
|
|
Purchasing : |
Cash, Credit (30 days / 90 days) |
GENERAL INFORMATION
|
Customers : |
Retailers (25%), End Users (75%) |
|
|
|
|
No. of Employees : |
7 |
|
|
|
|
Bankers : |
Development Credit Bank Limited Jogeshwari (West), Mumbai |
|
|
|
|
Facilities : |
The concern do not enjoy facility form its bankers |
|
|
|
|
Banking Relations
: |
- |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.0.500 million |
|
Borrowed : |
- |
|
Total : |
Rs.0.500 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
|
31.03.2007 |
|
Sales Turnover |
|
|
3.000 |
|
|
|
|
|
Expected Sales (2007-08) : Rs.4.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade References:
©
SRF Limited,
©
Arti Industries Limited, Vapi
Website Details
attached:
Company Profile:
Subject is closely held family owned business that is growing
consistently from its establishment since 2004. One key to its continuous
growth has been its ability to determine the clause of customers pumping
problems and solve the problems with custom engineered solutions. Another
important factor in Micro-Mech's ongoing growth has been its commitment from
very early on to stock and make standard catalogue items, which will be
available on the shelf. Subject is dedicated for producing products with superior
performance and high reliability, while still maintaining low cost, and
servicing their customers in a timely and professional manner.
Subject main
product goal is to develop and produce pumping products that address the need
of various industries, OEM's and end user's alike. Towards this end they have
embraced a very customer-centric drive that has leaded them to develop wide
variety of non-metallic pumps for chemical and corrosive industries. Their
products have grown in popularity in few years to become and consider its
standard product line. In some instances their custom engineered products are
simple modification of their standard product line. While in other cases
Subject has designed entirely new style and types of pump to suit exact
customer needs and specification.
Pumping for subject is not just a business but also a passion, they have
never competition seriously, they operate order to support their clients in the
operation of their pumping and other preventive maintenance, spare parts,
replacement pumps and retrofits etc.
Series "MIPP"
industrial centrifugal Plastic Pumps are designed and manufactured to meet the
stringent requirement for handling corrosive liquids including moderate
slurries. The pump design confirms to IS-5120 standard, which gives higher
efficiency. All wetted parts coming in contact with media are injection molded,
which can withstand in higher pressure. The pump shaft is protected from
corrosive media with reliable sealing arrangement. Their pump manufacturing
program ensures quality, reliability and trouble free operation for long
duration
DESIGN CONSTRUCTION DETAILS: -
Casing, stuffing box and impeller are offered in Various Materials
- Polypropylene*
- UHMW
- HDPE
- Glass - Fibre
Reinforced Polypropylene
- PTFE
* Offered as standard
IMPELLER: -
Solidly moulded, semi-open impeller with metal insert ensures high
strength and durability. The impeller is dynamically balanced as per ISO 1940
to achieve minimum vibration and extended bearing life.
SHAFT: -
As a standard shaft is offered EN-8 Materials. Different materials can be
offered on request.
SHAFT SLEEVE: -
Sleeve is a protecting the Shaft from the corrosive media and can be offered in
various materials after confirming chemical compatibility.
- Ceramic
(99.5% Alumina Oxide) *
- Alloy-20 (CN
7M)
- Hastelloy - C
- Hastelloy - B
- Monel
- Titanium
- Silicon
Carbide
* Offered as a standard.
MECHANICAL SEAL:
As single externally mounted PTFE bellows Mechanical Seal with various
face combination is offered after confirming chemical compatibility.
- GFT v/s
CERAMIC*
- GFT v/s
SILICON
- CARBON v/s
CERAMIC
- CARBON v/s
SILICON
- SILICON v/s
SILICON
* Offered as a standard
SEALING:-
'O' Ring and Gaskets Sealing are provided in the joints to ensure better
sealing even at high pressure.
ACCESSORIES
PRIMING CHAMBER: -
This is specially used for negative suction. It is effective in handling
liquids with slurry or particles, as it does not get clogged as easily as the
foot valve.
TROLLEY: -
A specially designed, vibration free trolley keeps the pump mobile, whenever
required. Further, the trolley can also be provided with FRV coating on the
parts exposed to chemical drip.
Technical
Specification Of Pump
Capacity 200 m3/hr
Head 150 meters
Viscosity 100 cp
Temperature 180 C
RPM 1450/2900
APPLICATIONS AND INDUSTRIES
SERVED
Acid Pickling Effluent Treatment Drugs & Pharmaceuticals Petrochemicals
Agro Chemicals Fumes Scrubbing Food Processing Dies & Pigments
Chemicals
Processing Recirculation Process Perfumeries Tanneries
Breweries Photographic Process Detergent & Caustics Paper & Pulp Industrie
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 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.40.58 |
|
|
1 |
Rs.81.89 |
|
Euro |
1 |
Rs.55.29 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
37 |
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 |
|