MIRA
INFORM REPORT
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Report Date : |
24.07.2007 |
IDENTIFICATION DETAILS
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Name : |
SIDHANATH HYDRAULICS |
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Registered Office : |
Plot No. 78, Pawashe Compound, Near |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2006 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRS24800G |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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Line of Business : |
Manufacturer of Hydraulic Presses, Non Ferrous Metal Extrusion
Presses, Rubber Moulding Presses, Deep Drawing Presses, Steel Metal Bending
Presses, Transfer Moulding Presses etc. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 10000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern having satisfactory track. Partners
are reported as experienced and respectable businessmen. Trade relations are
reported as fair. Business is active. Payments are however reported as
usually correct and as per commitments. The concern can be considered for small business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
Plot No. 78, Pawashe Compound, Near |
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Tel. No.: |
91-831-2445126 |
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Mobile No.: |
91-9448493056 |
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Fax No.: |
91-831-2445126 |
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E-Mail : |
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Area : |
20000 sq. fts. |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Mohan Patil |
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Designation : |
Partner |
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Date of Birth/Age : |
29 Years |
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Qualification : |
B E (Elecl) |
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Experience : |
8 Years |
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Name : |
Mr. Gajanan Patil |
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Designation : |
Partner |
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Date of Birth/Age : |
45 Years |
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Qualification : |
Technician |
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Experience : |
22 Years |
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Name : |
Mr. Sanjay Sardesai |
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Designation : |
Partner |
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Date of Birth/Age : |
44 Years |
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Qualification : |
Mech. Engg. |
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Experience : |
23 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Hydraulic Presses, Non Ferrous Metal Extrusion
Presses, Rubber Moulding Presses, Deep Drawing Presses, Steel Metal Bending
Presses, Transfer Moulding Presses etc. |
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Products : |
Ø Non-Ferrous Metal Extrusion Presses (for Copper, Aluminium, Brass, etc.) Ø All Types of Hydraulic Presses & Cylinders Ø Power Packs & Equipment Ø Control Panels. |
GENERAL INFORMATION
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Suppliers : |
Ø
R V Hydraulics, Ø
Kolhapur Steel Limited, Ø
Sushil Forgings, Mumbai |
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Customers : |
Ø
Uttaranchal Metals (Private) Limited Ø
Genau Extrusions, Hosur Ø
Hasti Metal (Private) Limited, Ahmedabad Ø
Swastika Aluminium (Private) Limited, |
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No. of Employees : |
16 (10 In Production / Technical, 6 In Others) |
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Bankers : |
Ø
ICICI Bank, Tilakodi, Ø
State Bank of |
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Facilities : |
About Rs. 1.000 Milion |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Latchkan Chartered Accountants |
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Address : |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.500 millions |
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Borrowed : |
-- |
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Total : |
Rs. 2.500 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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23.000 |
9.000 |
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Profit/Loss for the year |
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10 – 15% |
10 – 15% |
Average value of inventories at any given time Rs. 2.000 – 2.500
millions
LOCAL AGENCY FURTHER INFORMATION
As per website
details:
Profile:
Since their establishment in the year 2006, they have been a renowned manufacturer of premium quality
products to a wide range of industries all over the country. Subject has built its reputation on
providing customers with products of international quality standard and
services with reliability. Their endeavor to achieve complete customer
satisfaction has earned them countrywide reputation as the most reliable
solution provider and the one stop source for All Types of Hydraulic Presses & Cylinders, Power Packs &
Equipment, Control Panels, Non-Ferrous Metal Extrusion Presses, etc. They
also undertake Re-Conditioning &
Maintenance of Hydraulic Presses.
At subject, they use cutting edge technology to manufacture all the aforesaid products, and try to incorporate the latest and innovative features into them. In addition, the design, production, quality checking is done in-house in the single factory premise. This helps them to keep the production cost minimized. That is why, they, unlike most of their competitors in the industry, can offer their world class products at highly affordable prices within stipulated time.
Their
Throughout the years, they have satisfied the needs of their highly esteemed customers
through specialized designs, by incorporating the latest trends like
programmable logic controls, servo and proportional controls and cartridge
valves to achieve superior quality and most reliable products.
They also undertake Re-Conditioning & Maintenance of Hydraulic Presses.
Their Quality
At their company, they have implemented and continue to maintain a quality
system to ensure that all their products conform to internationally acclaimed
quality standard. They believe that the products and services they provide
should consistently meet the customers' expectations. The products manufactured
at subject are defect free and of superlative quality. They perform thorough
quality checking of the products at every level of the manufacturing process.
Besides, their innovative ideas and continual research works help them to
frequently upgrade the product and service quality.
Their Infrastructure
A well built infrastructural base at subject provides them the adequate support
required for growth and development. They are equipped with a highly advanced
manufacturing unit having the installation of cutting edge machinery. Besides,
there are also captive facilities for quality checking and R&D. This strong
infrastructural base, supported by their highly skilled team of technocrats,
provides them every opportunity to maintain the highest standard of quality
with all their services and 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.40.24 |
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1 |
Rs.83.04 |
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Euro |
1 |
Rs.55.66 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
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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27 |
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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