MIRA INFORM
REPORT
|
Report
Date : |
25.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
TECHNO
FAB INDUSTRIES |
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Registered
Office : |
Plot No.
21, Sector – 56A, Ballabgarh, |
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Country
: |
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Financials
(as on) : |
31.03.2007 |
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Date
of Incorporation : |
1998 |
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TAN
No.: [Tax
Deduction & Collection Account No.] |
RTKT00899D / RTKT01727F / RTKT01728G |
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PAN
No.: [Permanent
Account No.] |
AACFT2725M |
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Legal
Form : |
Partnership Concern with an Unlimited Liability of
Partners. |
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Line
of Business : |
Manufacturer and Trader of Construction Equipments like
Vibrating, Compectors 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 |
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Maximum
Credit Limit : |
USD 40000 |
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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 concern having satisfactory
track. Partners are reported as experienced, respectable and having
satisfactory means of their own. Their trade relations are fair. 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 : |
Plot No.
21, Sector – 56A, Ballabgarh, |
|
Tel.
No.: |
91-129-4133794/
795/ 796/ 797/ 798 |
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Mobile
No.: |
91-9891173421 |
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Fax
No.: |
91-129-4133798 |
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E-Mail
: |
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Area : |
50000 sq. fts. |
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Location : |
Owned |
PARTNERS
|
Name : |
Mr. Vikash Vashist |
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Designation
: |
Partner |
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Date
of Birth/Age : |
33 Years |
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Qualification
: |
Post Graduate |
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Experience
: |
7 Years |
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Name : |
Mr. Vivek Kaushik |
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Designation
: |
Partner |
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Date
of Birth/Age : |
26 Years |
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Qualification
: |
Graduate |
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|
Name : |
Mr. Ved Prakash |
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Designation
: |
Partner |
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Date
of Birth/Age : |
39 Years |
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Qualification
: |
Graduate |
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Experience
: |
9 Years |
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Name : |
Mr. B. D. Tyagi |
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Designation
: |
Partner |
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Date
of Birth/Age : |
63 Years |
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Qualification
: |
Graduate |
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Experience
: |
16 Years |
BUSINESS
DETAILS
|
Line
of Business : |
Manufacture and Trader of Construction Equipments like Vibrating,
Compectors etc. |
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Products
: |
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Terms
: |
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Selling : |
Cash and Credit (30 Days) |
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Purchasing : |
Cash, Credit and Sight (30 Days) |
GENERAL
INFORMATION
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Customers
: |
Local Customers, Retailers and End Users |
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No. of
Employees : |
210 |
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Bankers
: |
Citi Bank, |
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Facilities : |
Nil |
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Banking Relations : |
Satisfactory |
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Auditors
: |
Charodiya & Company |
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Address: |
Sector 15, |
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Sister
Concern : |
Super Engineering
Company Address: 69/5, M. Stone Karkhana Bagh, Old Line of Business: Crain Carriers Lift N Pull Address: 69/5, M. Stone Karkhana Bagh, Old Line of Business: manufacturing of winches for hydraulics
paints |
CAPITAL
STRUCTURE
|
Capital
Investment : |
|
|
Owned : |
Rs. 10.000 Millions |
|
Borrowed : |
Nil |
|
Total : |
Rs. 10.000 Millions |
FINANCIAL
DATA
[all
figures are in Rupees Millions]
|
Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Sales
Turnover |
200.000 |
140.000 |
140.000 |
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|
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Profit/Loss
for the year |
Nil |
Nil |
6.200 |
Expected
Sales (2007-08) : Rs. 300.000 Millions
LOCAL
AGENCY FURTHER INFORMATION
TRADE REFERENCES:
v Escort Construction Equipment
Company
v Siemens
v Hambolt Willard Private Limited
v Maxo Minerals
AS PER WEBSITE:
Technofab Industries is one of the fastest emerging
manufacturing unit dealing in Fabrication
of parts for Mobile Cranes, Mainframes,booms, Cabin, Cab Base, Soil Compactors
Drums and Tandom Rollers, Water & Fuel Tanks, Pressure Vessels,
Burners, Heat Exchangers, Parts for cement plants. In addition, they also specialize in fabricating
components for Excavators, Big Chasis for Higher Tonnage Slow Cranes as well as
fabrication in Stainless Steel etc.
Since their inception, they along with their sister concern Lift and Pull have been serving
various big industrial units by providing them international quality materials
and parts. They are well known for their authentic business approach and personalized customer support services
With huge and well equipped infrastructure, they conveniently handle
bulk orders and provide on-time
delivery. As a responsible business organization, they are fully aware
of their duties towards the society and their clients. Achieving client's satisfaction is their prime
motto and for that their entire team makes sincere efforts.
Premium
quality products, efficient staff, qualified engineers, self-sufficient
infrastructure, competitive prices, prompt delivery schedules and effective
customer services are
some of the prime features of their company. They believe in providing quality
components at competitive prices and for their excellent performance they have
earn the appreciation of their competitors too.
Client's
satisfaction leads to their satisfaction.
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 |
6 |
|
PAID-UP
CAPITAL |
1~10 |
5 |
|
OPERATING
SCALE |
1~10 |
5 |
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FINANCIAL
CONDITION |
|
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|
--BUSINESS
SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT
LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT
POINTS |
|
|
|
--BANK
CHARGES |
YES/NO |
NO |
|
--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 |
|
46 |
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 |