MIRA
INFORM REPORT
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Report Date : |
27.06.2007 |
IDENTIFICATION DETAILS
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Name : |
VIKRANT EQUIPMENTS |
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Registered Office : |
Plot No. 51, Phase – I, GIDC, Kathwada, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
21.01.1998 |
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Legal Form : |
Sole Proprietary Concern |
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Line of Business : |
Manufacturer, Exporter of Cranes and Hoists (Various Types) |
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 : |
USD 4000
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Status : |
Small Concern |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern having satisfactory track.
Proprietor is reported as experienced and respectable businessman. Trade
relations are reported as fair. Business is active. Payments are however
reported as usually correct and as per commitments. The concern can be considered for small business dealings at usual
trade terms and conditions |
LOCATIONS
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Registered Office : |
Plot No. 51, Phase – I, GIDC, Kathwada, |
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Tel. No.: |
91-79-22971087 / 22875763 / 32510287 |
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Mobile No.: |
919898105763 |
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Fax No.: |
91-79 22875763 |
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E-Mail : |
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Website : |
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Area : |
980 sq. mt. |
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Location : |
Leased but Owned |
SOLE PROPRIETOR
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Name : |
Mr. Vinay Patel |
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Date of Birth/Age : |
28 Years |
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Qualification : |
Post Graduate |
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Experience : |
6 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter of Cranes and Hoists (Various Types) |
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Products : |
Canes and Hoists (Various Types)
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Exports : |
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Products : |
Au Products |
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Countries : |
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Terms : |
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Selling : |
L / C Credit and T/T |
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Purchasing : |
Cash and Credit 30-60 days |
GENERAL INFORMATION
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Customers : |
Retailers, End Users, Traders |
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No. of Employees : |
30 |
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Bankers : |
HDFC Bank, Maninagar Branch, Ahmedabad |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.000 million |
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Borrowed : |
-- |
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Total : |
Rs. 1.000 million |
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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7.000 |
3.000 |
Expected Sales (2007-08) : Rs. 20.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade Reference:
- Dresser Rand India
Private Limited, Ahmedabad
- Supreme
Industries Limited, Jalgaon
As Per Website Details:
About
Them
They can proudly introduce ourselves as a prominent manufacturer and exporter
engaged in the making of various Material Handling Equipments,
bannered as Subject They are leading the industry as a
trademark of quality as well as with huge and strong infrastructural setup,
catering to the needs of the top industrialists. With strong base in the Indian
market, they also have a huge export market expanded to
Subject is a renowned manufacturer and exporter of high quality
material handling equipments such as:
- EOT/HOT Cranes
- Jib Cranes/Gantry Cranes
- Wire Rope Electric Hoist
- Flame Proof Electric Hoist (Suitable for
Group I, IIA & IIB Gases)
- Goods Lifts
- Spark Proof/Flame Proof/Explosion Proof
Cranes
- Chain Pulley Blocks and Monorail
Trolleys.
All their products are of sound quality and certified as per
the IS standards.
Special
Characteristics
Some of the prime features of their operational strategy reflect
their strong foothold in the market as a well united and perfectly managed
organization engaged in the manufacturing of EOT/HOT Cranes, Jib Cranes/Gantry
Cranes, Wire Rope Electric Hoist, Flame Proof Electric Hoist (Suitable for I,
IIA & IIB Gases), Goods Lifts, Spark Proof/Flame Proof/Explosion Proof
Cranes, Chain Pulley Blocks & Monorail Trolleys. These
distinctive features include:
- Well built infrastructural units
- Highly competitive rates
- Strictly punctual schedules for
completing the order and delivery services
- Professional team of experts
- Premium quality products
- Streamlined & aesthetically
pleasing appearance
- Low headroom
- Modular construction
- More torsional rigidity
- Easy maintenance & overhauling.
Since the last fifteen years, they have been sincerely
making efforts to provide trusted quality and impressive services to the prestigious
clients and develop strong associations worldwide.
Quality
Policy
They believe in providing high level of premium quality products
to their valued clients. To ensure that every equipment should be absolutely
defect free, they follow stringent quality control procedures. For that, they
have a separate quality control department consisting of highly qualified
technical staff. Apart from this, the guidance of some of the high profile
inspection authorities like PDIL, Technip-France, Kvarner Powergas
India Ltd. Chemtex Engineering of India Ltd., Tata Consulting Engineers, UHDE,
Idea, M.N. Dastur, Dalal Consultants, SMPS and JH&G Engineers has
been very helpful for them to maintain the constant standards of high
performance. From the initial stage of collecting raw materials to the final
assembly and testing of the equipments, they undertake regular quality tests
for each and every equipment manufactured by them.
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.40.66 |
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1 |
Rs.81.70 |
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Euro |
1 |
Rs.55.05 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--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 |
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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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29 |
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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