MIRA
INFORM REPORT
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Report Date : |
21.07.2007 |
IDENTIFICATION DETAILS
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Name : |
SHREEJI TECHNICAL SERVICES |
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Registered Office : |
H – 40, Vrajdhara Society No. 2, B/H, Bhaktinagar, Novino – Tarsali
Raod, Vadodara – 390 009, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2001 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers and exporters of Pulverizes and Conveying System. |
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 8000 |
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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 : |
H – 40, Vrajdhara Society, No. – 2, Novino – |
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Tel. No.: |
91 – 265 – 2632845 / 6544772 |
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Mobile No.: |
91 - 9426574490 |
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Fax No.: |
91 -265 -2519756 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory : |
Tarsali Bypass Crossing, Highway No. 8, Gordhanbhai Patel’s Farm, Tarsali,
Vadodara – 390 009, |
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Telefax No.: |
91 – 265 - 6544772 |
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E-Mail : |
SOLE PROPRIETOR
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Name : |
Mr. Jitendra Patel |
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Designation : |
Proprietor |
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Mobile No.: |
91 – 9426 74490 |
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Date of Birth/Age : |
38 years |
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Qualification : |
Graduate |
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Experience : |
10 years – 15 years |
KEY EXECUTIVES
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Name : |
Mr. Chetan Mehta |
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Designation : |
Marketing Executive |
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Mobile No.: |
91 – 99740 31085 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and exporters of Pulverizes and Conveying System. |
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Products : |
v
De-Lampur v
Hammer Crusher v
Pin Pulveris v
Micro Pulveriser v
Air Swept Mill v
Ultra Fine Mill v
Air Classifier Mill v
Air classifier v
Rotary Air Lock Valve v
Vibratory Feeder v
Screw Feeder v
Mineral Grinding Plant v
Mineral Grinding Plant v
Plastic Grinding Plant |
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Exports to: |
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Terms : |
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Selling : |
L/C, Cash |
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Purchasing : |
Credit (30 days – 90 days) |
GENERAL INFORMATION
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Customers : |
v
Consultants v
Traders |
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No. of Employees : |
20 |
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Bankers : |
Bank of Tarsali Branch, Bank of Karnataka Yoginagar Branch, |
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Banking
Relations : |
Satisfactory |
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Membership: |
v
VCCI v
Indian Engineering Industry |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.000 millions |
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Borrowed : |
- |
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Total : |
Rs. 2.000 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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15.000 |
10.000 |
Expected Sales (2007-08) : Rs. 25.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade References
v
Jain Irrigation Systems Limited, Jalgaon,
v
Himalaya machineries manufacturing Company, Mumbai,
v
Baroda Agro chemicals,
Website details attached:
Profile
Subject is the leading and
widely recognized manufacturer and exporter of Pulverizes and Conveying System
of best quality with the objective to give optimum satisfaction to the clients.
They have been spending huge capital investment in product development and
technology advancement. Their high quality products have helped us to lead in
the market from the forefront. They also have a set of satisfied clients all over
the world, which encourages us to improve the quality of the products in more
enhanced way with an inherent desire to be the best in the field, the company
has reached the acme of its performance by offering an array of sophisticated
and advanced engineering goods to various companies of virtually any size.
Further more, they have come out with new developments and products that have
not just improved the quality of the existing goods but have also introduce new
models in the market. The overall reliability and performance of their products
are guaranteed by the fact that most of the products and components are
manufactured in-house.
Subject is the leading and
widely recognized manufacturer and exporter of Pulverizes and Conveying System
of best quality with the objective to give optimum satisfaction to the clients.
They have been spending huge capital investment in product development and
technology advancement. Their high quality products have helped us to lead in
the market from the forefront. They also have a set of satisfied clients all
over the world, which encourages us to improve the quality of the products in
more enhanced way with an inherent desire to be the best in the field, the
company has reached the acme of its performance by offering an array of
sophisticated and advanced engineering goods to various companies of virtually
any size. Further more, they have come out with new developments and products
that have not just improved the quality of the existing goods but have also
introduce new models in the market. The overall reliability and performance of
their products are guaranteed by the fact that most of the products and
components are manufactured in-house.
They promise that they will continue to design and build products that
are not only world class but also offer complete satisfaction to the clients in
terms of performance. The company focuses on providing total satisfaction to
its clients in terms of competitive prices, quality, and timely delivery and
after sales services.
Quality
Quality is the aspect where they lay maximum emphasis and acute measures are taken to attain it at the highest level. To ensure a world class production, they have adopted a stringent quality control department where the professionals are involved in conducting stringent quality test at each stage that helps in detecting even a minor fault at the earliest.
These measures
have strengthened us to supply most efficient and highly productive
machineries. Infrastructure: They have a well-known unit where the ideas
germinate. They have the entire necessary infrastructure required to
manufacture and export pulverizes as per customer’s requirements and
specifications. Earnest efforts are made to decide the best way of generating
innovative products.
At every stage, quality tests are done. The in-house production unit is
equipped with latest machinery. The enthusiasm and dynamism of the experienced
and technically qualified staff coupled with consistency in quality and prompt
service has earned us respect of a large number of customers. Export markets:
Products
Their qualitative products have rare comparison. They produce
best quality machines according to customer’s specific requirements. The last
four years have witnessed their machines winning the hearts of Pulverize
operator in the country as well as abroad, have proved to be highly efficient
and are working to the entire satisfaction of their valued customers.
Plant
Chilies for
"Pizza Topping" with Chilly seeds
Minerals
Grinding Plant with Air Classifier
Air
Classifier Mill with separate Air Classifier
Powder
Coating Material Grinding Plant
Primary Competitive Advantages
Customized Product
with optimum capacity
Utilization,
minimum product losses eco friendly solutions
Consistent
performance
Quality products
all made available within the committed time frames
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. 40.33 |
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1 |
Rs. 82.63 |
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Euro |
1 |
Rs. 55.65 |
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 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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