MIRA
INFORM REPORT
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Report Date : |
31.07.2007 |
IDENTIFICATION DETAILS
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Name : |
VIJAY ENGINEERING |
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Registered Office : |
3703 / G, G I D C, Phase – IV, Behind New Nirma Chemicals, Vatva,
Ahmedabad – 382 445, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1982 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMV02210F |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and
Exporter of Pressure Die Casting Dies, Gravity Die Casting Dies, Investment
Casting Moulds & Compression Moulds, Press Tools, Jigs & Fixtures,
Epoxy Moulds, Epoxy Moulded Components, Sheet Metal Press Parts and
Automobiles, Textiles, Insulator Parts, Engine Parts etc. |
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 10000 |
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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 : |
3703 / G, G I D C, Phase – IV, Behind New Nirma Chemicals, Vatva,
Ahmedabad – 382 445, |
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Tel. No.: |
91-79-25841428 |
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Mobile No.: |
91-9426020312 91-9898383842 |
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Fax No.: |
91-79-25841435 |
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E-Mail : |
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Website : |
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Area : |
2500 sq. fts. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Jay Khambhayata |
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Designation : |
Proprietor |
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Date of Birth/Age : |
22 Years |
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Qualification : |
Under Graduate |
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Experience : |
4 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and
Exporter of Pressure Die Casting Dies, Gravity Die Casting Dies, Investment
Casting Moulds & Compression Moulds, Press Tools, Jigs & Fixtures, Epoxy
Moulds, Epoxy Moulded Components, Sheet Metal Press Parts and Automobiles,
Textiles, Insulator Parts, Engine Parts etc. |
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Products : |
Ø Pressure Die Casting Dies Ø Gravity Die Casting Dies Ø Investment Casting Moulds & Compression Moulds. Ø Press Tools Ø Jigs & Fixtures Ø Epoxy Moulds Ø Epoxy Moulded Components Ø Sheet Metal Press Parts etc. |
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Exports : |
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Products : |
Ø Pressure Die Casting Dies Ø Gravity Die Casting Dies Ø Investment Casting Moulds & Compression Moulds. Ø Press Tools Ø Jigs & Fixtures Ø Epoxy Moulds Ø Epoxy Moulded Components Ø Sheet Metal Press Parts etc. |
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Countries : |
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Terms : |
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Selling : |
Cash / Credit (30 days) |
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Purchasing : |
Cash / Credit (10 days) |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
50 |
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Bankers : |
Dena Bank, Maninagar Branch |
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Facilities : |
(Cast / Credit Rs. 1.000 Million) |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Deepabhai Chartered Accountants |
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Associates/Subsidiaries : |
Kishor Engineering Works Address: 3703 / H, G I D
C, Phase – IV, Behind New Nirma Chemicals, Vatva, Ahmedabad – 382 445, Line of
Business: Manufacturer and
Exporter of Pressure Die Casting Dies, Gravity Die
Casting Dies, Investment Casting Moulds & Compression Moulds, Press
Tools, Jigs & Fixtures, Epoxy Moulds, Epoxy Moulded Components, Sheet
Metal Press Parts and Automobiles, Textiles, Insulator Parts, Engine Parts
etc. |
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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40.000 |
35.000 |
Expected Sales (2008) : Rs. 60.000 – 70.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade Reference:
Ø
ABR,
Ø
Birla MCK, Alol
Ø
Prashant Gamatek, Ahmedabad
Ø
Cadmech Machineries Private Limited, Ahmedabad
As Per Website Details:
Subject is leader in precision die casting of zinc, aluminum
and magnesium alloys. They operate from Ahmedabad which is the commercial hub of
Gujarat state in
Though subject's roots lie in their casting process they are equally as
strong in the manufacture of larger parts by conventional hot and cold chamber
die casting methods. This unique full service die casting capability allows
customers to leverage their global sourcing while minimizing their supply base.
Company Profile:
Subject is
a reliable name in the field of die-casting and metal components manufacturing
technologies. They provide outstanding, marvelous and breathtaking quality and
highly oriented in Aluminum Casting, Brass
Pressed die casting alluminium die casting, Investment Casting
manufacturing industries. With the victorious contribution of Company’s Director and their
specialized lineup the company started rising promptly with their determination
and force. At present the company has totally been paying attention in
developing worldwide intercontinental as well as domestic markets by making
tie-ups, collaborations and widespread corporation which would spotlight them
exclusively
Industries Served
Applications for precision diecastings are limitless and that is why, over the
years that subject has been in operation, they have supplied over 50 different
industries.
They principally serve the Machine Component, Textile Machinery consumer
electronics and automotive markets. In these industries, time-to-market is
critical, along with guaranteed high volume supply of quality components.
Engineers face the challenge of designing in a highly dynamic technological
environment. Subject offers pioneering diecast solutions for all types of
applications.
Think of any consumer electronics product and it will probably contain die
castings. With goals of zero defect quality, Subject is the preferred partner
of many of the leading consumer and industrial product’s manufacturers,
supplying superior precision die castings with part-to-part consistency.
For automotive engineers, Subject offers unrivalled experience in the
manufacture of precision die castings.
Alluminium
and Pressed die casting
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Automobile Components
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Textile Machine
Components
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Other Machine
Tools Components
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Machine Body
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Pump Impellers
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Precision
Components
Ø Automobile Engg. Inds. : - Moulds and Dies for various parts of two / three / four wheelers.
Ø Electrical Engg. Inds. : - Dies, Fixtures & Moulds used for various inputs for the production of electrical components like motors, transformers etc.
Ø
Consumer Durable Products Inds. : -
Components used in Fans, Mixers, irons, washing machines etc.
Mechanical
Engg. Inds. : - Components of pumps, Compressors, Valves etc.
Ø Material Handling Equipments Inds. : - Specially designed dies, moulds and fixtures for production of material handling devices like conveyer belts, hoists, cranes, bottling machines etc.
Ø Textile Engineering Industries : - High quality components manufactured by precision dies and moulds
The Team
Mr. Vijay Khambhayata (The Proprietor)
Their company subject is
managed by enthusiastic, ambitious young entrepreneur MR. Vijay Khambhayata who is the
founder and pioneer of the company. The company is a team, not a simple
collection of individuals. The success of the team takes precedence over the
success of the individual. The company requires individuals, regardless of
role, to interact with one another co-operatively and objectively in
consideration of team goals. Teamwork is emphasized and valued.
Mr. Jay
Khambhayata (Production & Quality Maintenance)
Mr. Jay Khambhayata is very
dynamic sincere dedicated member of the team. Being a part of the growing
organization he believes ‘Never
sacrifice quality and integrity’. His
philosophy maintains that they understand and believe that every completed
project must serve the client's needs, be efficient in concept and design, and
be value oriented. Their staff approaches each assignment in a professional and
business-like manner, while maintaining a personal commitment to the client and
their objectives. Attention is given throughout the project for effective
communication and rapport to insure that their work is based on an accurate
understanding of the client's objectives
Mr.
Dharmendra Khambhayata (Marketing Operations & Company Affairs)
Mr. Dharmendra Khambhayata is one of
the key members of a team and his role is the major role in the development of
the organization. He has a strong leadership quality and he always lead from
the front. His excellent building relationship and co-operative and positive
approach delight the clients and give quick solutions to any problems.
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.40.54 |
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1 |
Rs.82.02 |
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Euro |
1 |
Rs.55.31 |
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 |
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 |
YES |
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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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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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