MIRA
INFORM REPORT
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Report Date : |
07.07.2007 |
IDENTIFICATION DETAILS
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Name : |
ADVANCE HEATING SYSTEMS |
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Registered Office : |
207, Vardhaman Complex 8, Facility Centre, Mayapuri Industrial Area,
Phase II, New Delhi-110064, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1991 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers and Suppliers of Industrial Heat-Treatment Furnaces, Non
Ferrous Metals Melting Furnaces and Industrial Ovens. |
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 2000 |
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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 a well-established and reputed concern having satisfactory
track. Proprietor is reported as experienced and respectable businessmen.
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/ Corporate Office : |
207, Vardhaman Complex 8, Facility Centre, Mayapuri Industrial Area,
Phase II, New Delhi-110064, |
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Tel. No.: |
91-11-28112315/ 30914872 |
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Mobile No.: |
91-9810520120 |
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Fax No.: |
91-11-28112315 |
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E-Mail : |
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Website : |
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Area : |
150 Sq.ft. |
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Location : |
Owned |
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Factory 1 : |
D-1/23 (Back side), Mayapuri Industrial Area, Phase II, New
Delhi-110064, |
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Tel. No.: |
91-11-32914872 |
SOLE PROPRIETOR
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Name : |
Mr. Kamal Kishor Popli |
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Designation : |
Proprietor |
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Date of Birth/Age : |
49 years |
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Qualification : |
Diploma in Mechanical Engineering |
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Experience : |
26 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Suppliers of Industrial Heat-Treatment Furnaces, Non
Ferrous Metals Melting Furnaces and Industrial Ovens. |
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Products : |
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Industrial Furnaces : Heat treatment,
Conveyerised Heating Furnaces v
Industrial ovens : Conveyer Oven, Industrial
Oven, Oven for Sheet Metal Printing v
Furnace accessories : Blower, Temperature
Controller v
Special Purpose Burner : Gas heating system for
injection molding machine, Gas burner, Special Shape burner, High temperature
furnace burner v
Special purpose machine : Shrinking packing
machine, Dust collector |
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Exports : |
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Products : |
No direct export (Subject wants to start export) |
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Countries : |
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Terms : |
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Selling : |
Advance, Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS
Capacity to increase production by 60%
GENERAL INFORMATION
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Suppliers : |
Purchase of raw material from open market |
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Customers : |
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BHEL v
Aero Tec – |
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No. of Employees : |
11 |
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Bankers : |
UTI Bank Limited, Vikas Puri, |
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Banking
Relations : |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.0.500 million |
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Borrowed : |
-- |
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Total : |
Rs.0.500 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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4.000 |
3.500 |
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Profit/Loss for the year |
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10% |
10% |
Expected Sales (2007-08) : Rs.5.000 millions
LOCAL AGENCY FURTHER INFORMATION
Website Details :
Profile
Advance Heating Systems is one of the
leading manufacturers & supplier of Industrial Heat-Treatment Furnaces,
Non-Ferrous Metals Melting Furnaces & Industrial Ovens.
The key person of the organization has 20 years experience in designing and
making of Industrial Furnaces.
They design and make furnaces as per the requirement of the customers.
They have exported their products directly or through their agents to
They also undertake conversion of electrical furnaces/ovens to Gas fired
Furnace.
Products
Industrial
Furnaces
HEAT TREATMENT FURNACES
Complete range of Gas/Diesel/Electrically operated Furnaces for Hardening/
Tempering/Annealing or Stress-reliving etc. These furnaces are available either
in batch or continues type in sizes and capacity as per the requirement of
clients.
CONVEYERISED HEATING FURNACES
Gas
/Diesel operated furnaces for various applications temparature range 200 °c
-1000 °c. They can also make as per the requirment of the client.
Industrial Ovens
CONVEYER OVEN
Gas/Diesel/Electrically operated conveyerised Industrial Ovens for various
applications like Paint-Baking/Powder Coating/or any other process. These ovens
are available as per the requirment of clients.
INDUSTRIAL OVEN
Gas/Diesel/Electrically operated box type Industrial Ovens for various
applications like Paint-Baking/Powder Coating/or any other process. These ovens
are available as per the requirment of clients.
ELECTRICALLY OPERATED MUFFLE / CHAMBER TYPE FURNACE
Electrically heated Muffle/Chamber Type
Furnace is a rectangular furnace used for different applications like
hardening, annealing, pre-heating or any other application which require
temperature up to 1200¢ªc. the furnace is fabricated from mild steel plates
duly reinforced with steel sections. a leaf type door is provided on the front
of the furnace. the coil shape heating element suitable to give temperature up
to 1200¢ªc the furnace comes with automatic control panel with digital
temperature control through solid-state relays. an operators safety switch is
provided at the smoothly operating door.
ROTARY MELTING FURNACE
Gas Fired Rotary Melting Furnace is a circular
furnace with the shell in horizontal shape and fitted with 2 conical shaped
ends. The shell is fitted with two separate rider rings duly machined which are
rotated by four wheels fitted on the bed. The furnace is fabricated in three
separate parts. The two supporting rollers drive the furnace with the help of
gear box fitted on the bed. The gear box is coupled with an electric motor. The
furnace is lined on the inside with suitable thickness of I S 8 grade bricks /
insulation bricks. The furnace is heated by means of one no. Gas fired burner
fitted on a separate frame. A combustion air blower is included in their scope
of supply.
Furnace Accessories
HEATING ELEMENT
Heating elements for electrical furnaces designed against specific requirement
for applications up to 1200 °c.
BLOWER
Blowers from 1 hp - 5 hp motar rating with air pressure upto 28" inches
water column pressure.
TEMPERATURE CONTROLLER
Furnace temperature controller with temperature range 400, 1200 and 1500°c
temperature complete with Fr.Const/Cr.Al/Pt.Pt.Rh thermocouple and compensating
cable
OVEN FOR SHEET METAL PRINTING
Gas/Diesel/Electrically operated Oven for sheet metal printing for various
applications like Paint-Baking/Powder Coating/or any other process. These ovens
are available in box construction or conveyer type as per the requirment of
clients.
Special Purpose Burner
GAS HEATING SYSTEM FOR INJECTION MOULDING M/C
They design and make Gas heaters for barrel heating of injection moulding
machine, they also undertake conversion of electical barrel heating system to
gas heating system.
GAS BURNER
Gas burners automatic/semi-automatic for low temperature applications ranging
from 1 kw. to 50 kw. capacity. They also design and make burners for specific
requirements.
SPECIAL SHAPE BURNER
Specially designed Gas burners for non-standard application / design ranging
from 1 kw. to 20 kw. capacity. They also design and make burners for specific
requirements.
HIGH TEMPERATURE FURNACE BURNER Gas burners
automatic/semi-automatic for high temperature applications ranging from 20 kw.
to 200 kw. capacity. They also design and make burners for specific
requirements.
Special Purpose Machine
SHRINKING PACKING MACHINE
Shrinking packing machine for shrink packing of various products from 1 cubic
cm to any size as per the requirment of client.
DUST COLLECTOR
Cyclone type Dust collector for various industrial applications as per the
requirment of the client.
SAND BLASTING MACHINE
Sand Blasting Machine is used for various applications like cleaning of moulds, putting
grains on the moulds, preparing surface for painting, ptfe coating etc. the
machine comes in ready to use condition. only a compressed air connection is to
be provided. the media used for blasting is collected in the machine itself and
reused many times. an exhaust blower is provided at the top of the machine with
filtering system to give clean exhaust air. the machine is provided with inside
light for easy working for operator.
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.40.46 |
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1 |
Rs.81.29 |
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Euro |
1 |
Rs.54.96 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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 |
6 |
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--LEVERAGE |
1~10 |
6 |
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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 |
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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48 |
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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