MIRA
INFORM REPORT
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Report Date : |
31.05.2007 |
IDENTIFICATION DETAILS
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Name : |
NEWCAST DIE CASTING |
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Registered Office : |
234,3rd Cross ,3rd Phase, Peenya Industrial Area |
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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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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers of high Quality Aluminium and Zinc Alloy Pressure Die Casting, Machining ,
Shot Blasting , Tool Room facilities. |
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 6000 |
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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 dealing at usual
trade terms and conditions. |
LOCATIONS
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Registered Office/Factory: |
234,3rd Cross ,3rd Phase, Peenya Industrial Area |
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Tel. No.: |
91-80-32969474 |
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Mobile No.: |
91—98451-07240 |
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Fax No.: |
91-80-28397021 |
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E-Mail : |
newcastdiecasting@yahoo.com |
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Website : |
newcastdiecasting@yahoo.com |
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Area : |
1200 sq.fts. |
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Location : |
Rented |
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SOLE PROPRIETOR
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Name : |
Mr. S. Nagendra Rao |
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Designation : |
Proprietor |
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Date of Birth/Age : |
32 Years |
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Qualification : |
Diploma in Mechanical Engineering |
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Experience : |
10 Years |
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BUSINESS DETAILS
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Line of Business : |
Manufacturers of high quality Aluminium and Zinc Alloy Pressure Die Casting, Machining ,
Shot Blasting , Tool Room facilities |
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Exports : |
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Countries : |
In |
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Terms : |
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Selling : |
Credit( 60 Days) |
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Purchasing : |
Credit (30 Days) |
GENERAL INFORMATION
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Suppliers : |
S.V. Alloys , Mumbai J.R. Duralumin , |
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Customers : |
ABB. Limited , BPL Kirloskar Electric Company Limited, Prasiddi Engineers. Rittal India Limited Trident Powercrafts Private Limited Wep PheripheralsLimited Featherlite Products |
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No. of Employees : |
25 (Technical- 10, Other
-15) |
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Bankers : |
Syndicate Bank , Sadhashiv Nagar,
Bangalore-80 |
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Facilities : |
Overdraft around Rs. 3.000
millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Raghu Chartered accountants |
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Address : |
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Memberships : |
Peenya Industries Association |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.1.500 millions |
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Borrowed : |
Rs.0.000 millions |
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Total : |
Rs.1.500 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
17.500 |
4.300 |
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Profit/Loss for the year |
Indicated around
15% |
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Average value Of inventories at
any given time: Rs.0.500 million
LOCAL AGENCY FURTHER INFORMATION
Subject’s factory is equipped with pressure die cast machines, Automatic
Tempreature control Melting Furnacs Lathe and Sand blasting Machines,
Compressor, Drilling Machines, Also Measuring Instruments such as Digital
Vernier, Micrometer , Height Gauge, Bore Indicator, Bevel Protractor,
Surface Table etc.
Web Site Detail Attached
Subject is a well- known name in the arean of
aluminium and Zinc alloy pressure components . In 1998 , they made a noticeable
entry in the indian market .The mission
was clear and wealth as a manufacturer and supplier of
international quality of aluminium and zinc alloy die casting components between
1gm to 800gms.
“Quality work is their motto and they believe in rectifying their
mistakes.
They have implemented their motto in every
aspect of work and in response they have attained registration 9001:2000
certification.
Their company
is involved in the making of aluminium and zinc alloy pressure die
casting company pressded components tools as per international requirements and at reasonable pricing . They have well-equipped infrastructure with the latest technology and
sophisticated machinery. Some of them
can be listed here :
- 120 Ton
pressure Die Casting Machines
- 60 Ton Bhuler
Pressure Die Casting Machines
- Lathe
Machines
- Sandblasting Machines
- Drilling
Machines
- Tapping
Machines
- Flypress
Machines
- Lanshing
Machines
- Buffing
Machines
- Other
Miscellaneous Machines
Their own tool room provides excellent
back up and well –equipped bmachine shop results in perfect machine the
aluminium and zinc die casted components
. With about 70% of spare capacity , Their company able to cater constantly
increasing demand of their customers.
Today they are established as a successful
manufacturer and supplier of aluminium and zinc alloy casting components .With
a wide network of loyal customers, They are moving forward with a vision to reach at highest peak of
perfection.
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.80.21 |
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Euro |
1 |
Rs.54.51 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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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 |
5 |
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--LEVERAGE |
1~10 |
5 |
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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 |
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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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
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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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