MIRA
INFORM REPORT
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Report Date : |
21.07.2007 |
IDENTIFICATION DETAILS
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Name : |
SUPER ENGINEERING WORKS |
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Registered Office : |
261, Functional Industrial Estate, Patparganj, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1985 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturing of Electrical, electronics, control and signaling devices,
control panel boards, switch gear, audio-video accessories, plastic product. |
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 20000 |
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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 : |
261, Functional Industrial Estate, Patparganj, |
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Tel. No.: |
91 – 11 – 22169951, 22159959 |
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Mobile No.: |
91 – 9810044030, 9810562777, 9873136248 |
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Fax No.: |
91 – 11 - 22154139 |
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E-Mail : |
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Website : |
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Area : |
360 Sq. mtrs. (3 Floors) |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Ravi Dhiman |
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Designation : |
Chairman / Proprietor |
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Date of Birth/Age : |
48 years |
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Qualification : |
Graduate |
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Experience : |
25 years |
KEY EXECUTIVES
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Name : |
Mr. Vipin Dhiman |
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Designation : |
Chief Executive Officer |
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Date of Birth/Age : |
41 years |
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Qualification : |
Graduate |
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Experience : |
18 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturing of Electrical, electronics, control and signaling
devices, control panel boards, switch gear, audio-video accessories, plastic
product. |
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Products : |
v
Electrical Goods v
Digital Panel Meters v
Switches v
Switch Gear v
Hooters & Buzzers v
Connectors, v
HRC Fuses v
Plugs & Sockets v
Stabilizer & TV Parts v
Fuse Fittings v
Indicating Lights v
Inverter Parts v
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Terminal Blocks v
Speaker Terminals v
Electrical Control Panels & Accessories (Dia
22.5 mm) |
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Brand Names : |
“SURDHI” |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS
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Capacity to increase production by 40% |
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GENERAL INFORMATION
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Suppliers : |
Purchase of Raw Material from Open Market. |
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Customers : |
OBTEK Electronics – Hari Nagar, |
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No. of Employees : |
10 |
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Bankers : |
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Corporation Bank, Jagatpuri, v
I C I C I Bank Limited, Anand Vihar, |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 5.000 millions |
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Borrowed : |
- |
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Total : |
Rs. 5.000 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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30.000 |
25.000 |
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Profit/Loss for the year |
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12% |
12% |
Expected Sales (2007-08) : Rs. 40.000 millions
LOCAL AGENCY FURTHER INFORMATION
Website details attached:
Subject was established in the year 1985 and is one
of the leading large scale manufacturers of high quality electronic and electrical components.
Their product range comprise of wide variety of electrical goods like Audio Video Accessories, Switches,
Terminals, Sockets, Connectors etc. They also manufacture products as
per the customer specification or demand like Tools, Plastic Moulds etc.
Production of the electrical goods
takes place on highly automated lines with integrated testing systems.
Team
They have a team of highly experienced and talented engineers who have great
skill in handling machinery system, modern tool room facility and support
system to meet the expectations and requirements of their valued customers.
Infrastructure
Their Tool room is equipped with latest machineries and equipments so that
their customers get the best quality products in the industry. They are
recognized for building all the important components of switches and switching systems. This includes plastic
processing and mold construction, metalworking and stamping as well as the
necessary production technologies on their own premises.
Quality
All their electronic goods and
components ensure high quality and functioning. They have the capability
to meet large volume requirements and have the best skills which helps us to
cater the whole industry.
Primary
Competitive Advantages
International quality products, competitive prices, products can be customized as per the requirement
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. 40.34 |
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1 |
Rs. 83.08 |
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Euro |
1 |
Rs. 55.80 |
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 |
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 |
NO |
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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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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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