MIRA
INFORM REPORT
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Report Date : |
17.07.2007 |
IDENTIFICATION DETAILS
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Name : |
MAGO THERMAL EQUIPMENTS PRIVATE LIMITED |
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Registered Office : |
106, |
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Country : |
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Date of Incorporation : |
20.11.2004 |
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Com. Reg. No.: |
130848 |
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CIN No.: [Company
Identification No.] |
U40101DL2004PTC130848 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
KELM12376A |
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PAN No.: [Permanent
Account No.] |
AAECM1895Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter and Importer of Multifuel Boiler, Steam Piping,
Steam Boiler, Stem Turbine and Steam Boiler Retrofitting. |
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 |
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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 company having satisfactory track.
Directors are reported as experience and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are usually
correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. The management denied to part with financials despite of several
follow-ups. |
LOCATIONS
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Registered Office : |
106, |
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Tel. No.: |
91-11-65272614 |
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Fax No.: |
91-11-45548455 |
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E-Mail : |
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Website : |
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Area : |
350 sq. fts. |
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Location : |
Rented |
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Factory: |
BB – 42E, Janakpuri, |
DIRECTORS
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Name : |
Mr. Naveen Goswami |
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Designation : |
Director |
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Date of Birth/Age : |
31 Years |
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Qualification : |
Graduate |
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Experience : |
15 Years |
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Name : |
Mr. Rakesh Mahajan |
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Designation : |
Director |
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Date of Birth/Age : |
45 Years |
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Qualification : |
Graduate |
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Experience : |
18 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Multifuel Boiler, Steam Piping,
Steam Boiler, Stem Turbine and Steam Boiler Retrofitting. |
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Products : |
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Exports : |
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Products : |
Multifuel Boiler, Steam Piping, Steam Boiler, Stem Turbine and Steam
Boiler Retrofitting |
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Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
L/C |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
25 (In Office I 20, In Office II 5) |
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Bankers : |
Syndicate Bank, Vikaspuri Branch, |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity shares |
Rs. 10/- each |
Rs. 0.500 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10200 |
Equity shares |
Rs. 10/-
each |
Rs. 0.102
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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120.000 |
50.000 |
Expected Sales (2008) : Rs. 150.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade References:
- Pepsi, (All Over
- HP Cotton Limited, Dora (Kolkata and Haryana)
- Lime Chemicals, Mumbai (Office) and Himachal Pradesh (Factory)
Website Details:
About Them
Subject is a leading enterprise engaged as a
manufacturer and exporter of a wide range of Steam Turbines and Boilers. They are
a technology driven company strengthened by a team of thermal engineers who are
motivated to offer efficient and cost-effective solutions for the modern
industrial requirements. They offer turnkey solutions related to Water Tube
Boilers and Turbines on saturated as theyll as super heated conditions. Their
area of operation includes designing, up-gradation and installation that are
executed under the guidance of a team of professionals who aim to achieve the
highest level of quality and customer satisfaction. With their intense efforts
and hard work they have erected a state-of-the-art infrastructure fully
facilitated to handle all aspects of the turbine steam potheyr generation.
Their Services
a)
Engineering, procurement, supply, erection, testing and commissioning of
electrical package of co-generation and captive potheyr plants.
b)
Overhauling of steam turbine, generators, etc.
c)
Reblading and slow speed balancing of steam turbine rotors.
d)
Oil filtration services for potheyr transformer and steam turbines.
e)
Supply of critical spares of TG sets Forging alloy steel components, Bearing,
Rotors and high speed Coupling.
They
also provide consultancy services for Potheyr Plants and Thermal Systems.
Other
Activities
- Boiler retubing - Supply of
tube profiles including super heater, economizer bank and furnace tubes
for boilers of all types.
- Boiler up-gradation - Correlate
field data with design calculation and to upgrade existing boiler
performance so as to achieve techno-economic viability.
- Construction activities on behalf of
OEM (original equipment manufacturer)
- Boiler Accessories - Soot
Blotheyr, Multi Cyclone Dust Collector, Rotary Air Lock Valves, Pneumatic
Spreaders, Fuel Firing Equipment, Deaerator and Desuperheater, Pulsating
Grate, FBC.
- Pressure Vessels -
For Steam, Refrigeration, Air Conditioning and Gas Storage.
Quality
They consider quality to be a very important factor during the
entire manufacturing process. They ensure that their quality standards adhere
to the international norms. Right from the procurement of the raw materials to
the final delivery of products, each level of the manufacturing process is
carefully monitored. To facilitate customer services and to enhance effective
project implementation, all the stages including production, marketing and
project layout are supervised by a team of talented and focused technicians and
manpotheyr.
Their Strategies
- Ensure high
quality and durability
- Maintain a
strong infrastructure and a competent team
- Offer efficient
and cost-effective solutions
- Aim to offer
solutions that best suit the modern industrial requirements
- Develop a
wide network of distributors for timely delivery and efficient services.
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 theyre 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
bettheyen 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.40.37 |
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1 |
Rs.82.18 |
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Euro |
1 |
Rs.55.67 |
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 |
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 theyighted scores obtained from each of the major sections of this
report. The assessed factors and their relative theyights (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 theyight 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, they have no basis upon which to
recommend credit dealings |
No Rating |
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