MIRA
INFORM REPORT
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Report Date : |
03.07.2007 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
D – 40, Focal Point, Mandi ,Gobindgarh – 147301, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2006 |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the partners. |
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Line of Business : |
Manufacturer and Exporter of Hot Rolling Mills |
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 20000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Satisfactory |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern having satisfactory track.
Partners 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 concern can be considered for small business dealings at usual
trade terms and conditions |
LOCATIONS
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Registered Office/Factory : |
D – 40, Focal Point, Mandi ,Gobindgarh – 147301, |
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Tel. No.: |
91-1765-320510 / 250657 / 507409 |
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Mobile No.: |
91-9357187409 91-9815164141 (Mr. Ajay Singhal) |
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Fax No.: |
91-1765-250657 |
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E-Mail : |
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Website : |
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Area : |
1000sq.mtrs |
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Location : |
Owned |
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PARTNERS
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Name : |
Mr. Anand Jain |
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Designation : |
Partner |
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Date of Birth/Age : |
36 Years |
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Qualification : |
Matric |
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Experience : |
15 Years |
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Name : |
Mr. Ajay Singhal |
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Designation : |
Partner |
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Date of Birth/Age : |
35 Years |
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Qualification : |
Matric |
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Experience : |
14 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Hot Rolling Mills |
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Products : |
Mill Stands, Pinion Stands, Reduction Gear Box, Coils, Gear Coupling
Rolling Mill Plant, Tilting Tables, Shearing Machines, Universal Gear
Machines, Hot Saws, Spindles and Coupling, Wire Rod Mills |
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Exports : |
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Products : |
Hot Rolling Projects |
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Countries : |
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Terms : |
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Selling : |
L/C, Credit, Cash |
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Purchasing : |
L/C, Credit, Cash, Sight |
GENERAL INFORMATION
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Customers : |
Local Customers, End Users |
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No. of Employees : |
37 (7 Office, 30 Factory) |
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Bankers : |
Jammu and Kashmir Bank Limited Mandi Gobindgarh HDFC Bank Mandi Gobindgarh |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Sumeer Garg Chartered Accountants |
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Address : |
Mandi Gobindgarh |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.5.000 millions |
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Borrowed : |
- |
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Total : |
Rs.5.000 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
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Sales Turnover |
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20.000 |
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Profit/Loss for the year |
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2.500 |
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LOCAL AGENCY FURTHER INFORMATION
Trade References:
Azlex Gurgaon
Gemini,
Website Details
Attached
Company Profile:
Prelude
Subject have a good market
reputation for their quality work. Apart from this, they are considered as best
entrepreneur and employer. The high encouraging environment is the driving
force of their regular developmental and growth policies helping them to
achieve heights of success. Established in the year 2004, Subject is a leading
manufacturer and exporter of Steel Rolling Mills & Steel Plants. They believe in
total quality management and their products adhere to international quality
standards and guidelines. They manufacture products like Mill Stands,
Pinion Stands, Reduction Gear Box, Coils, Gear Couplings, Complete Rolling Mill
Plant, Tilting Tables, Shearing Machines, Universal Gear on Hobbing Machines,
Hot Saws, Spindles & Couplings, Wire Rod Mills, etc. Their focus
on quality and good business ethics has earned them a very distinct name
amongst the national and international buyers.
Their Products
Their products and services are highly acclaimed for their quality and
variety available at competitive prices. Quality runs throughout their unique
product line. Their range of products includes:
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Hot Steel Rolling Mill Stands
Their Hot Steel Rolling Mill Stands play a key role in many steel plants. A
typical hot rolling mill usually consists of a number of aligned rolling
stands.
» Reduction Gear Box
Their Reduction Gear Boxes are available in variety of sizes, shapes, and
designs and also provide variety of functions.
» Pinion Gear Box
The bodies of the Pinion Gear Box are accurately machined, totally enclosed,
oil tight, having a sufficient lubrication system.
» V-belts Pulley
Their V-belts pulleys are connected together permit a heavy load to be lifted
with less force.
» Fly Wheel
Their Fly Wheels are steel casted, steel fabricated and statically &
dynamically balanced.
» Rolls
They offer variety of Rolls that are known for their high performance.
» Shearing Machines
Their Shearing machines are used to cut the ends and sizes of all sections and
fitted near the cooling bed.
» Gear Coupling
Their Gear Coupling are individually designed and manufactured to the specific
requirements with a different capacity.
» Ejector
They offer high quality Ejectors that are known for special performance and
durability.
» Pusher
They offer Pushers that are best suited for the required application.
~ They have state-of-the-art infrastructure equipped
with latest and sophisticated equipment
~ To ensure their high quality standards, they have
employed a team of experts and engineers for checking each and every stage of
their production processes
~ Their company has a well-defined research and development
policy that helps in manufacturing innovative products
~ They have incorporated the latest technical innovations in their
machineries and equipment to produce products of global standards
~ They are backed by a huge network of professionals from different
streams who have a vast experience in this field
~ Production of safe and efficacious products
~ They possess a large and well equipped warehouse to store bulk
products so as to meet the immediate market demands
~ The department is focused on product development,
quality control and standardization
~ Their team of
experienced and well-qualified technicians ensures that they are able to
maintain their position of leadership in the industry.
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.40.58 |
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1 |
Rs.81.89 |
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Euro |
1 |
Rs.55.29 |
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 |
3 |
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--LEVERAGE |
1~10 |
3 |
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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 |
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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27 |
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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