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MIRA
INFORM REPORT
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Report Date : |
10.07.2007 |
IDENTIFICATION DETAILS
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Name : |
TEXO CAMS ( |
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Registered Office : |
927 / 51, B.A., Panchal and Company, Opp. Parvati Estate, Near Punjab National
Bank, Tavdipura, Shaibaug, Ahmedabad – 380004, Gujarat |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2002 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacture and Exporter of |
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 12000 |
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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 businessman. 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 Office : |
927 / 51, B.A., Panchal and Company, Opp. Parvati Estate, Near Punjab
National Bank, Tavdipura, Shaibaug, Ahmedabad – 380004, Gujarat |
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Tel. No.: |
91-79-22777399 |
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Mobile No.: |
91-9227250390 / 9825009901 / 989885556 |
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Fax No.: |
91-79-22777399 |
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E-Mail : |
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Website : |
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Area : |
2000sq.fts |
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Location : |
Rented |
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Branch : |
Dhobi Ghat, Ahmedabad |
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Area : |
700sq.fts |
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Location : |
Rented |
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SOLE PROPRIETOR
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Name : |
Mr. Chetan Panchal |
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Designation : |
Proprietor |
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Date of Birth/Age : |
28 Years |
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Qualification : |
Graduate |
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Experience : |
3 – 4 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacture and Exporter of |
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Products : |
♦
♦
♦
♦
♦
♦
♦
♦
♦
♦
♦
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Exports : |
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Products : |
All Products |
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Countries : |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
L/C or T/T |
GENERAL INFORMATION
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Customers : |
♦
Wholesalers ♦
OEM’s ♦
Suzuki Suitings Limited ♦
Sangam Suitings Limited ♦
Ginni International amongst others |
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No. of Employees : |
15 |
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Bankers : |
©
ICICI Bank Sai Baug ©
Navinirman Co-Operative Bank Dariyapur Branch |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Spare Tech Industries Address: 927 / 51, B.A., Panchal and Company, Opp. Parvati Estate,
Near Punjab National Bank, Tavdipura, Shaibaug, Ahmedabad – 380004, Line of Business: Manufacture and Exporter of |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.3.000 millions |
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Borrowed : |
- |
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Total : |
Rs.3.000 millions |
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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4.000-5.000 |
3.500-4.000 |
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Expected Sales (2007-08) : Rs.6.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade References:
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Sangam Suitings Limited, Dilwara , Rajasthan
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Suzuki SuitingsLimited, (Dilwara), Rajasthan
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RCM Suitings Limited, (Dilwara)Rajasthan
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Amar Industries Limited, (
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Shruti Enterprises, (
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Ginni International Limited, (Jaipur), Rajasthan
Website Details:
Company Details:
A cam is a projecting part of a rotating wheel or shaft that strikes a
lever at one or more points on its circular path. It can be seen as a device
that translates movement from circular to linear, for instance crankshaft of a
car or an automobile, which takes the rotary motion of the engine and
translates it into the linear motion necessary to operate the intake and
exhaust valves of the cylinders. Subject is the ultimate destination to obtain world-class
cams in a wide range for varied usage; all offered at the most competitive
prices. They are a renowned manufacturer and exporter of CAM for Sulzer Looms,
CAM for Staubli Motion, CAM for Tsudakoma Air Jet, CAM for any type of Winding
Machine, CAM for High Speed Up Twister Machine, CAM for Circular Looms, CAM for
Ring Spinning and Doubling, etc. Incepted in the year 2002, they have established a
firm standing for themselves within a short frame of time. It has been possible
due to the trust and support of their customers, who come for repeat orders.
This strong faith reinforces them to deliver innovative and advanced cams each
time.
They firmly adhere to their principles of devotion towards customers, honest
trade practices and incessant hard work and ceaseless efforts to produce
flawless products. This is the reason they are able to face all the challenges
that they come across, thereby maintaining their goodwill in the competitive
marketplace. Being a customer driven company, they upgrade their products from
time to time by taking into consideration their valuable feedback and
suggestions. As a result, they are able to live up to the expectations of their
clients, who are the centre of their world.
The raw materials used in manufacturing TCI CAM include high quality alloy steel,
SGI iron, etc. These help them deliver authentic, zero-defective and
unparalleled products to their worthy customers.
Their Infrastructure
They are backed by a state-of-the-art infrastructure, comprising of
ultra-modern machineries and skilled and diligent employees. Appropriate
measures are observed by them to yield desired results from them. These include
thorough lubrication of their machineries and replacement of old ones with
advanced ones. Manpower, being another significant aspect of infrastructure, is
recruited carefully and provided with ample training. This helps them
understand their changing goals and policies and give them a sense of
association with their organization. In a nutshell, a healthy work atmosphere
and sophisticated machineries are the backbone of their company, which help
them function in a smooth manner.
Quality....Their Trademark
Supreme and impeccable quality is the hallmark of Texo Cams (
Their Clients
Due to their innovative, cost-effective and unmarred products, they have some
of the most acknowledged companies as a part of their clientele.
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.40.41 |
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1 |
Rs.81.23 |
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Euro |
1 |
Rs.55.00 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
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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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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