MIRA
INFORM REPORT
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Report Date : |
19.07.2007 |
IDENTIFICATION DETAILS
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Name : |
RETA ENGINEERING |
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Registered Office : |
G – 281, Phase – 1, RIICO Industries Area, Bhiwadi – 301 019, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1988 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers and Exporters of M S Heat Plant, Heat exchangers, electrical
Panels, chemical plants etc. |
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 4000 |
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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 / Factory : |
G – 281, Phase – 1, RIICO Industries Area, Bhiwadi – 301 019, |
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Tel. No.: |
91 – 1493 – 220859 |
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Mobile No.: |
91 – 9314235256 |
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Fax No.: |
91 – 1493 – 4052490 |
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E-Mail : |
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Website : |
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Area : |
1800 Sq. mtrs. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mrs. |
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Designation : |
Proprietor |
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Date of Birth/Age : |
58 years |
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Qualification : |
Graduate |
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Experience : |
7 years |
KEY EXECUTIVES
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Name : |
Mr. R. L. Gera |
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Designation : |
Key Executive |
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Name : |
Mr.
Umesh Gera |
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Designation : |
Key Executive |
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Tel No.: |
91 - 9313377858, 91 - 9212268584 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of M S Heat Plant, Heat exchangers, electrical
Panels, chemical plants etc. |
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Products : |
v
SS and MS Tools v
Pressure Vessels v
Heat Exchangers v
Blenders Ball mill v
Pollution Control Systems v
Reactors v
SS Columns v
Chimneys v
Electronics Components |
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Exports : |
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Products : |
Chemical and other Heat Exchangers |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash or Credit |
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Purchasing : |
L/C, Cash or Credit (60 days), Sight |
PRODUCTION STATUS
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Products |
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Actual
Production |
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Heat Exchanger v
Chemical Plants |
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As per Demand |
GENERAL INFORMATION
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Customers : |
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Local customers v
End Users |
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No. of Employees : |
26 (Office: 6; Factory: 20) |
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Bankers : |
Corporation Bank |
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Facilities : |
Credit Limit of Rs. 2.100 millions |
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Banking
Relations : |
Satisfactory |
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Membership: |
Bhiwadi Manufacturers Association |
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Associates/Subsidiaries : |
R. K. Metals Address: Bhiwadi, Line of Business: M. S. Plants |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.000 million |
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Borrowed : |
- |
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Total : |
Rs. 1.000 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
9.900 |
8.700 |
8.200 |
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Profit/Loss for the year |
0.750 |
0.500 |
0.450 |
LOCAL AGENCY FURTHER INFORMATION
Trade References
v
RICO India Limited
v
AROCON –
Website details attached:
Profile
Subject started
in the year 1987 with an aim to
provide impeccable quality products and services to their customers
at competitive prices and achieve their ultimate goal of 'Total Customer Satisfaction'. Their passion for excellence and
quality has established us as the most preferred manufacturer and exporter of SS and
MS Tools, Pressure Vessels,
Heat Exchangers, Blenders Ball Mill, Pollution Control Systems, Reactors, SS
Columns, Chimneys
and Electronics
Components. Their strength lies in the accurate and precise
engineering along with their prompt delivery system and
clear communication with the customers. Since the very beginning, they have
never compromised on quality and have successfully achieved a high level of customer
satisfaction resulting in long-lasting relation with world-wide customers.
Their team of experienced technocrats and professionals work in close
co-ordination with their customers, to deliver products that match their
specific requirements.
Infrastructure
They incorporate technologically advanced infrastructure
empowered with superb working environment. Their in-house manufacturing unit is
equipped with state-of-the-art machineries with modern manufacturing facilities.
Their modern and hi-tech machineries yield excellent results at low maintenance
cost. Their wide sales network and highly trained and skilled marketing
personnel have given us a competitive edge over others. Their modern and
technologically advanced warehouse and excellent transport facilities ensure
the customers of prompt delivery.
Quality
Quality is the success mantra for us and they have never compromised on the quality of their products and services. They have adopted quality control system of international standards. Their team of quality inspector analyzes and monitors every stage of production, starting from procurement of the raw materials to the dispatch of the final products.
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. 40.39 |
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1 |
Rs. 82.93 |
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Euro |
1 |
Rs. 55.75 |
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 |
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 |
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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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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