MIRA
INFORM REPORT
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Report Date : |
23.07.2007 |
IDENTIFICATION DETAILS
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Name : |
HEENA ENGINEERS |
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Registered Office : |
No. 15, Sy, No. 112/2, 12th Cross, Doddanna Industrial
Estate, Peenya 2nd Stage, Bangalore 560 091, Karnataka |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1997 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers of Rock Crushing and Screening 30 to 80 coarse Mesh
Grinding Plants, Ball - Mills, Se
Parators, Pulverisers, Conveyers and General Order suppliers, Jaw Crusher and
all types of Fabrication Works. |
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 1200 |
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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 : |
No. 15, Sy, No. 112/2, 12th Cross, Doddanna Industrial
Estate, Peenya 2nd Stage, Bangalore 560 091, Karnataka, India |
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Tel. No.: |
91-80-28367092 / 28367091 |
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Mobile No.: |
91-9341477311 / 91-9448487019 |
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Fax No.: |
91-80-28367091 |
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E-Mail : |
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Area : |
7000 sq. fts. |
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Location : |
Leased |
SOLE PROPRIETOR
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Name : |
Mr. M. Kaleem |
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Designation : |
Proprietor |
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Date of Birth/Age : |
32 Years |
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Qualification : |
Diploma (Mech. Engg) |
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Experience : |
8 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Rock Crushing and Screening 30 to 80 coarse Mesh
Grinding Plants, Ball - Mills, Se Parators,
Pulverisers, Conveyers and General Order suppliers, Jaw Crusher and all types
of Fabrication Works. |
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Products : |
Ø
Jaw
Crusher Back Side Ø
Blower Ø
Single
Drum Magnet Ø
Vibrators Ø
Double
Drum Magnet Ø
Continuity
Ball Mill Unit Ø
Thermes Ø
Convear Ø
Hummer
Mill Ø
Storage
Tank Ø
Double
Rotary Screen Ø
Shead Ø
Single
Rotary Screen. |
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Terms : |
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Selling : |
Advance and Against Delivery |
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Purchasing : |
Credit (30 days) |
GENERAL INFORMATION
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Suppliers : |
Ø
Kavitha Steels, Ø
Shiva Steels, Ø
R C Steel, |
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Customers : |
Ø
Shina Enterprises, Cuddappa, Andhra Pradesh Ø
Karnataka Silicates, Ø
Amar Industries, |
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No. of Employees : |
18 (15 In Production / Technical), (3 In Other) |
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Bankers : |
Syndicate Bank, Vijaynagar, |
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Facilities : |
About 3.200 millions Overdraft facility |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. S. S. Pandian Chartered Accountants |
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Address : |
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Memberships : |
Peenya Industries Association |
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Associates/Subsidiaries : |
Heena Minerals, |
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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7.200 |
6.500 |
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Profit/Loss for the year |
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About 15% |
About 15% |
Average value of inventories at any given time Rs. 1.500 millions
LOCAL AGENCY FURTHER INFORMATION
As Per Website
Details:
About Them
Subject is one of the leading
manufacturers and distributors of Conveyor
Belts, Single Drum Magnets, Blowers, Jaw Crushers, etc. in the country
having a substantial market share since 2002. It has one of the largest and
biggest range of Conveyor Belts in the region. The aim of the company is to
fulfill and match customers' requirements by manufacturing and marketing
suitable products according to their specific requirements with unmatched and
fabulous after sales-service support. Their mission has always been to produce
quality products, maintain strict, prompt and scheduled delivery and create
manpower wealth. Further, their activities are not only limited to
manufacturing and selling of Conveyor Belts to the customers, but also to
provide them with immediate services for any kind of operational wear and tear
and breakage of conveyor belts. They have set up their sister concern for the
purpose of extending their services network efficiently.
Their Motto
Their motto is to deliver superior quality at an affordable cost, in time,
every time. They firmly believe that the crux of their success and the
recognition, they have achieved from their valuable and prestigious customers
is their passion to practice their motto.
Difference
They are not a pedestrian manufacturer. They understand each application and
requirement of the customers and involve their ideas, thoughts and experience
in making it unique and special.
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 |
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 |
NO |
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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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