MIRA
INFORM REPORT
|
Report Date : |
24.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
ACCURATE TURNINGS |
|
|
|
|
Registered Office : |
FCA 3851, Gali No.3, SGM Nagar, NH-3, NIT, Faridabad-121001, Haryana |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
2002 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
RTKA04231D |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAJFA6395H |
|
|
|
|
Legal Form : |
Partnership Concern with an unlimited liability of the partners. |
|
|
|
|
Line of Business : |
Manufacturers of Auto Parts, COPT Turnings and Pipe Flemings etc. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 4000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and reputed concern having satisfactory
track. Partners are reported as experienced and respectable businessmen.
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
|
Registered Office/ Factory : |
FCA 3851, Gali No.3, SGM Nagar, NH-3, NIT, Faridabad-121001, |
|
Tel. No.: |
91-129-4084707 |
|
Mobile No.: |
91-9911304707 |
|
Fax No.: |
91-129-4084707 |
|
E-Mail : |
|
|
Area : |
500 Sq.yds. |
|
Location : |
Owned |
PARTNERS
|
Name : |
Mr. Sanjay Bhatia |
|
Designation : |
Partner |
|
Date of Birth/Age : |
39 years |
|
Qualification : |
Graduate |
|
Experience : |
15 years |
|
|
|
|
Name : |
Mr. Anil Verma |
|
Designation : |
Partner |
|
Date of Birth/Age : |
41 years |
|
Qualification : |
Graduate |
|
Experience : |
20 years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Auto Parts, COPT Turnings and Pipe Flemings etc. |
|
|
|
|
Products : |
v
Automobile Gear Parts & Other Components v
Used Machines v
CNC Components Services Offered v
CNC Job
Works v
General
Services like maintenance and repair of the automobile machines. |
|
|
|
|
Exports : |
|
|
Countries : |
Negotiating |
|
|
|
|
Imports : |
|
|
Products : |
Machinery |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash Credit (60 days) and Sight |
|
|
|
|
Purchasing : |
Cash and Credit |
PRODUCTION STATUS
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Not Applicable |
|
|
|
As per demand |
GENERAL INFORMATION
|
Customers : |
Local Customers and End Users v
The following is a small detail of our
prestigious clients: v
New Allenberry Works v
Sandhu Forgings Limited v
Sandhu Udyog v
Alok Industries v
Tanya Industries v
OK Auto Components (Private) Limited amongst
others. All the above companies are OEM supplier to TELCO, M&M, Ashok
Leyland, and JCB (UK). |
|
|
|
|
No. of Employees : |
In Office :4, In Factory : 25 |
|
|
|
|
Bankers : |
Canara Bank, Nehru Ground, |
|
|
|
|
Facilities : |
Credit limit : Rs.0.500 million |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Ajay Bhatia And Company Chartered Accountants |
|
Address : |
Nehru Ground, |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.1.000 million |
|
Borrowed : |
-- |
|
Total : |
Rs.1.000 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Sales Turnover |
6.000 |
5.800 |
5.600 |
|
|
|
|
|
|
Profit/Loss for the year |
0.350 |
0.300 |
0.250 |
LOCAL AGENCY FURTHER INFORMATION
Trade References :
v
New Allbery Limited,
v
Punjab Bevel Gears Limited, Sahibabad
v
Tata Broadways
Website Details :
Perfection, accuracy, timely completion of the job are the hallmarks of
every eminent enterprise. These factors are the trademark at Subject. The progressive offers a
gamut of products and services to its valued clients. They are a trustworthy manufacturer of high quality automobile gear parts and other components and also provide services like CNC job work, maintenance and repairing of
automobile machines. The company is an importer of used machinery and CNC machines.
Incepted in the year 2003, the company is promoted by a group of highly
experienced professionals. Mr. Anil Verma, CEO is having an experience of
around 20 years in this discipline and Mr. Sanjay Bhatia is well versed in Finance
and Management of the business.
Subject boasts of a sound
infrastructural facility and a team of adept professionals. The company has a
renowned epitome in the industry due to its in-depth understanding of CNC
machining works that ascertain better quality products & enhanced
productivity. Their efficient manufacturing methods have led to lower prices
for a range of quality products and services. The company caters to various
automobile industries such as New Allenberry Works, Sandhu Forgings Limited,
Alok Industries and many other leading names of the automobile arena.
Powered by a group of highly experienced professionals and innovative
technologies, Subject has earned a dignified reputation in the market. They
firmly believe that precision, perfection and coordination are the key to
success. The company is a renowned manufacturer, exporter, importer and service
provider of the following:
|
Products Manufacturing |
|
|
Automobile Gear Parts |
Other Components |
|
Product Importing |
|
|
Used Machinery |
CNC Machines |
|
Services Offered |
|
|
CNC Job Works |
Maintenance Services |
|
Consultancy Services regarding used machines |
Other services to automobile manufacturers |
Quality Assurance
Subject is a name synonymous to quality, reliability and trust. The company has
an enviable record of completing over 95% of its work on time. All their
products pass through stringent quality control at various stages of the
manufacturing process to ensure best quality & performance. They are a
perfect blend of men and machines that enable them in efficiently handling all
their operations. Their performance always exceeds the expectations of the
clients.
Infrastructure
Subject is equipped with high-tech facilities and sound infrastructure well
maintained by a team of qualified technocrats. The company performs all high
precision jobs through its state-of-the art facility. They employ the following
machines to deliver high quality and cost effective solutions:
|
Name of Machine |
Qty. |
|
Two Axes CNC (Lokes) |
2 |
|
Two Aces CNC (YAM) |
2 |
|
Copying Lathes |
4 |
|
Conventional Lathes |
11 |
|
SPM Type Adda |
2 |
|
Drill Machine 35 mm Cap |
1 |
|
Gen. Set (Layland) 75 KVA |
1 |
|
Gen. Set (Tata) 40 KVA |
1 |
|
Facing & Centering (WMW) One mtr. |
1 |
|
Chuckmatic C-20 HMT |
2 |
|
Chuckmatic C-1 HMT |
1. |
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.40.24 |
|
|
1 |
Rs.83.04 |
|
Euro |
1 |
Rs.55.60 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|