MIRA
INFORM REPORT
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Report Date : |
03.07.2007 |
IDENTIFICATION DETAILS
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Name : |
BRIGHTECH VALVES AND CONTROLS PRIVATE LIMITED |
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Registered Office : |
Plot No. 345, Road No. 6, GIDC, Kathwada, Ahmedabad – 382430, |
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Country : |
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Date of Incorporation : |
29.12.2000 |
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Com. Reg. No.: |
039120 |
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CIN No.: [Company
Identification No.] |
U29120GJ2000PTC039120 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Industrial Valves and TEFLON ® Lined for different
applications |
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 : |
-- |
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Status : |
Small Concern |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a small company having annual sales of Rs.10.000 millions.
Trade relations are fair. No Payments are known. The company can be considered
for small business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
Plot No. 345, Road No. 6, GIDC, Kathwada, Ahmedabad – 382430, |
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Tel. No.: |
91-79-22902911 / 55248816 |
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Fax No.: |
91-79-22900538 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Hitesh Shah |
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Designation : |
Director |
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Name : |
Mr. Sanjeev Shah |
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Designation : |
Director |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Industrial Valves and TEFLON ® Lined for different
applications |
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Products : |
All types of Industrial Valves |
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Exports : |
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Countries : |
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GENERAL INFORMATION
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No. of Employees : |
15 |
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Bankers : |
Citibank, Ahmedabad |
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Banking
Relations : |
-- |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000
million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
No financials are available since incorporation of the company.
Management of the company remained non-cooperative during current
investigation
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Particulars |
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31.03.2004 |
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Annual Turnover |
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10.000 |
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Export Value |
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2.000 |
Group Turnover (2004) : Rs.10.000 millions
LOCAL AGENCY FURTHER INFORMATION
Website Details
Attached:
Company Details:
Subject, an Ahmedabad-based
company manufactures international quality industrial valves for various
industrial applications is rooted in technical know-how.
Located
in the most advanced industrial metropolis of India-Ahmedabad having the
complete manufacturing facilities. Today the Company has earned plaudits in the
market for designing ability, quality,
business values, and services by exceeding customer needs.
AT THE HELM
Subject
is run by qualified and experienced professionals -
Mr. Hitesh Shah and Mr. Sanjeev Shah, both having excellent engineering backgrounds and expertise in manufacturing of
valves and controls for more than a decade. Driven by high ethical standards,
reliability, closeness to customers and full dedication to engineering
standards are the cutting-edge assets of these dynamic entrepreneurs.
To
accomplish these aims, Brightech works concertedly towards
its goals with focused dedication.
With
a track record of over 12 years and a rich engineering experience, Brightech's
top echelon technical executives comprise of qualified engineers who pay as
much attention to inspection and testing individual products as to R & D.
By far, it is Brightech's clients
who have shaped the standards and technical solutions by demanding specific
features, configuration and detail that crown its products with quality.
THE PRODUCTS
Subject
manufacture all types of industrial valves for different applications.
The complete range includes control valves in a wide range in sizes, M.O.C.,
and varying classes.
The
Company keeps a tight control on quality aspects with in-house manufacturing
and machining facilities that slice delivery time and help increase
productivity.
QC MEASURES
Innovation
generates continual improvement, and this is precisely the creed that sustains
their work ethic. Quality is a word that is taken very seriously by the
Company, especially as the they must work in tandem with customers' quality
requirements.
Hence
Brightech maintains the strictest quality standards that conform to
international quality benchmarks. Over the years
product development has sustained their reputation for integrity, sound
technical capabilities, and client-oriented policies.
Strict quality control and testing is being maintained at
all the floor levels of the factory inputs and closely monitored at different
assembly levels and manufacturing procedures to assure trouble-free performance
of the product year after year. The Company also submits all the necessary test
certificates along with the supply.
INNOVATION & DESIGN
Subject
has engineered a special type of valve, called "Multifunctional"
valve for a variety of applications combined in a single valve.
This valve is an indigenous product, designed specially for controlling any
type of clean liquid.
The
Company's experience and expertise in developing custom products fulfill Indian
and global parameters in overseas projects managed by multinationals.
The Company has in-house designing and development
labs-with ultramodern computer-aided tools-run by skilled professionals to
develop designs required by clients. Brightech generously funds these measures
to achieve engineering specifications demanded by customers.
APPLICATIONS
Applications
for industrial valves manufactured by Brightech Valves and Controls Pvt. Ltd.
have following industries:
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Chemical ·
Petrochemical ·
Oil
Refinery ·
Pharmaceuticals ·
Energy ·
Power
Plant |
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Food ·
Pulp ·
Paper ·
Sugar ·
Textile ·
Offshore
drilling etc. |
CLIENT SERVICING
The Company strives to fulfill the customer's right to
expect the best they can deliver all of the time. Not only does the Company
assure products, services but also ascertains the solution of specific customer
problems, to meet unique challenges and seize opportunities for growth and
worldwide prestige.
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 |
5 |
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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 |
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 |
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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45 |
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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