MIRA
INFORM REPORT
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Report Date : |
31.07.2007 |
IDENTIFICATION DETAILS
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Name : |
YOGESHWAR MACHINERY MANUFACTURING COMPANY |
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Registered Office : |
2, Bajrang Estate, Amraiwadi – 380 026, Ahmedabad, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2001 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers of Packaging Machinery and Material Handling Equipments. |
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 4000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern having satisfactory track. Proprietor is reported as experienced and
respectable businessman. Trade
relations are reported as fair.
Business is active. Payments
are however reported as slow but correct. The concern can be considered for small business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
2, Bajrang Estate, Amraiwadi – 380 026, Ahmedabad, |
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Tel. No.: |
91-79-65440260 |
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Mobile No.: |
91-9376124131 |
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Fax No.: |
91-79-65440260 |
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E-Mail : |
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Website : |
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Area : |
500 Sq. fts. |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. Yogesh Mehta |
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Designation : |
Proprietor |
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Mobile No.: |
91-9376124131, 9898098216 |
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Date of Birth/Age : |
35 years |
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Qualification : |
Post Graduate |
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Experience : |
5 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Packaging Machinery and Material Handling Equipments. |
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Products : |
v
Automatic Single Side Sticker
Labeling Machine v
Automatic Single Side Vertical
Labeling Machine v
Automatic Single Side Horizontal
Labeling Machine v
Auto Double Side Vertical Labeling
Machine v
R.U. PP Cap Sealing Machine v
Screw Cap Sealing Machine v
Volumetric Liquid Filling Machine v
Vial Cap Sealing Machine v
Table Counting Machine v
Online Coding Device etc. |
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Agencies Held : |
© Konark
Machinery, Ahmedabad, © Maruti Automech
Products, Ahmedabad, |
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Exports : |
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Countries : |
Middle East, Gulf Countries and |
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Terms : |
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Selling : |
50% Advance Payment, 50% Invoice. |
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Purchasing : |
Cash or Credit (60 days) |
PRODUCTION STATUS
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Products |
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v Automatic
Single Side Sticker Labeling Machine v Automatic
Single Side Vertical Labeling Machine v Automatic
Single Side Horizontal Labeling Machine v Auto
Double Side Vertical Labeling Machine v R.U.
PP Cap Sealing Machine v Screw
Cap Sealing Machine v Volumetric
Liquid Filling Machine v Vial
Cap Sealing Machine v Table
Counting Machine v Online
Coding Device etc. |
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As Per Demand |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
7 |
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Bankers : |
HDFC Bank Maninagar Branch, Ahmedabad, |
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Banking Relations
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Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.000 million |
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Borrowed : |
- |
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Total : |
Rs. 1.000 million |
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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4.600 |
3.500 |
Expected Sales (2007-08): Rs. 5.800 millions
LOCAL AGENCY FURTHER INFORMATION
Trade References
Gem Pharma, Mumbai,
Solkit,
Shimmer herbals, Sadanand
Website details attached:
Subject is one of the finest and reliable
manufacturers of Automatic and
Semi-Automatic Self Adhesive Machine, Sticker Labeling Machine, Leak Check
Machine, Inspection and Packing Conveyors for Pharmaceutical, Beverage, Dairy, Food, Pesticides, Cosmetics,
Distilleries and Allied Industries. They manufacture Packaging Machinery and Material
Handling Equipments and have managed to mark a significant stand in the
relevant market.
Their
Machines for Packaging and Labeling requirements:
-Automatic Single Side Sticker Labeling
Machine
-Automatic Single Side Vertical Labeling Machine
-Automatic Single Side Horizontal Labeling Machine
-Auto Double Side Vertical Labeling Machine
-R.U. PP Cap Sealing Machine
-Screw Cap Sealing Machine
-Volumetric Liquid Filling Machine
-Vial Cap Sealing Machine
-Table Counting Machine
-Online Coding Device
-Automatic Packing Line for IV Fluid
Skilled, efficient and experienced engineers at their company provide
complete solutions for packaging and labeling requirements of customers.
Their Quality policy is to maintain an efficient and specified total
quality management program so as to stay in accordance to the global standards.
They maintain superior quality and manufacture reliable machineries comprising
of Automatic Labeling Machine, R.U. PP
Cap Sealing Machine, Screw Cap Sealing Machine, Volumetric Liquid Filling
Machine, Vial Cap Sealing Machine, Table Counting Machine, Online Coding Device
etc. The machines have been developed following the right principles of
technique. Their machineries are produced as per International Standards of
performance, quality and reliability.
Their company has a growing client base from across the globe for high
demands of automatic and Semi-Automatic
Self Adhesive, Sticker Labeling Machine, Leak Check Machine, Inspection and
Packing Conveyors to apply label on glass bottles and more. They
cater to Pharmaceutical, Beverage, Dairy, Food, Pesticides, Cosmetics, Distilleries
and various other Industries. Their immediate thrust is to be able to acquire a
corporate international presence by its global marketing network and continuing
to offer the best technology, quality-embedded products and genuine after-sales
service. Presently they are exporting to Middle East, Gulf Countries and
Primary Competitive Advantages
Better
quality,
Competitive
prices
Full
satisfaction due to adequate after sales services.
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 |
3 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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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 |
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 |
YES |
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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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31 |
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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