MIRA
INFORM REPORT
|
Report Date : |
04.06.2007 |
IDENTIFICATION DETAILS
|
Name : |
AASHIRWAD INDUSTRIES |
|
|
|
|
Registered Office : |
5 /5, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
2001 |
|
|
|
|
Legal Form : |
Partnership concern with an unlimited liability of partners. |
|
|
|
|
Line of Business : |
Manufacturers of Power Distribution Equipment, Tower Projects,
Fittings and other electrical goods. |
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 |
|
Maximum Credit Limit : |
USD 14000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and reputed concern having satisfactory
track. Partners are reported as
experienced and respectable businessmen.
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
|
Registered Office : |
5 /5, |
|
Tel. No.: |
91-120-3234485 |
|
Mobile No.: |
91-9891063101 |
|
Fax No.: |
91-120-2788485 |
|
E-Mail : |
|
|
Area : |
2000 Sq. mtrs. |
|
Location : |
Owned |
|
|
|
|
Branches : |
At |
|
Area : |
50000 Sq. mtrs. |
PARTNERS
|
Name : |
Mr. Sandeep Jain |
|
Designation : |
Partner |
|
Address : |
|
|
Mobile No.: |
91-9891063101 |
|
Date of Birth/Age : |
40 years |
|
Qualification : |
Graduate |
|
Experience : |
25 years |
|
|
|
|
Name : |
Mr. Shammi Jain |
|
Designation : |
Partner |
|
Address : |
|
|
Date of Birth/Age : |
36 years |
|
Qualification : |
Post Graduate |
|
Experience : |
10 years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Power Distribution Equipment, Tower Projects,
Fittings and other electrical goods. |
|
|
|
|
Products : |
v
Cold Rolled Formed metal Sections v
Cable Trays (GI/Painted) v
Earthing Material v
Electricity Distribution items for
Switchyard/sub-station v
Prefabricated Building Structure |
|
|
|
|
Exports : |
|
|
Products : |
Electrical Goods |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash or Credit (30 days) |
|
|
|
|
Purchasing : |
L/C, Cash or Credit(30 days) |
PRODUCTION STATUS
|
Particulars |
|
|
|
Actual
Production |
|
Electrical Goods |
|
|
|
As Per Demand |
GENERAL INFORMATION
|
Customers : |
v
Siemens Limited v
ABB Limited v
Larsen and Toubro Limited v
ETA Engineering Private Limited v
Kajaria Ceramics Limited v
Advance steel Tubes Limited v
Bharat Sanchar Nigam Limited (BSNL) v
Spectec Building Products Private Limited |
|
|
|
|
No. of Employees : |
40 (Office: 5; Factory: 35) |
|
|
|
|
Bankers : |
v
Ing Vyasa Bank, v
Vijaya Bank, |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
Not Regular |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 3.500 millions |
|
Borrowed : |
- |
|
Total : |
Rs. 3.500 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
Sales Turnover |
45.000 |
42.000 |
40.000 |
|
|
|
|
|
|
Profit for the year |
1.425 |
1.300 |
1.100 |
Expected Sales (2007-08): Over Rs. 50.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade References
v
Larsen and Toubro Limited
v
Siemens Limited
Website details attached:
Profile
They introduce there selves as one of the growing and emerging
manufacturer in the field of engineering products. They serve their customers
with an authentic range of precision engineered electric components that are either
cold rolled or fabricated. Their range of superior quality electrical products
includes Z Purlin, C Purlin, Cable Trays,
In pursuit to offer total customer satisfaction, they offer custom design
industrial specific and co-branded products. To attain this, they have
developed an apt manufacturing set-up that is well equipped with a set of
innovative and technically advanced machineries.
With wide clientele base & a ranking among the top manufacturers of the
industry, they endeavor to fairly deal with their clients at market leading
prices and fulfill their dynamic demands with innovative solutions.
Products
They manufacture and supply a world class range of electrical products
that suffice the needs of various industries. Their products are:
Cold Rolled Formed Metal Sections:
• Z Purlin
• C Purlin
• Cable Tray Supports
• Pressed Steel Door Frames
II. Cable Trays (GI/ Painted):
• Perforated
• Ladder Type
• Supports
III. Earthing Material:
• Earth Strips (GI / Cu)
• Earth Pit (GI/ Cu)
• Earth electrodes
IV. Electricity Distribution Items for Switchyard/ Sub-station:
• Towers (
• Transformer Gratings
• Fencing Posts
• V Cross Arms/ Clamps
• Foundation Bolts
V. Prefabricated Building Structure:
• Z/ C Purlin
• Sag Rods/ Cleats
Strengths
Apart from the prevailing
market forces, the internal strengths that make the company standalone and
competitive in market place are stated as under :
Degree of Excellence
With their quest for quality and excellence, they fabricate each electric
component under the intelligence of professionals and experts. To confirm the
electrical & temperature resistance, each of the products is galvanized
with the required metals under the watchful eyes of quality experts. Besides,
to ensure sharpness & versatility, every product is technically examined
and scrutinized in their in-house testing lab centers that are adequately
provided with necessary latest tools.
World Class Infrastructural Facilities
Infrastructure is the fundamental structure of a business firm or organization.
Guided by an adept team comprising of skilled workers and professionals, they
offer superior quality products machined using modern and updated tools with
latest techniques. Backed by sound and qualified Research & Development
professionals, they have better market understanding that endows them to
engineer products as per customer requirements.
Smooth & Effective Networking
Owing to their ability to provide high profit products and best market, they
readily provide their customers with a competitive and innovative range of
products with the desired quantity & quality even at the short notice. With
their huge distribution network spread across the globe, they continually
deliver a full line of both generic and custom designed products in accordance
to the prevailing market force and at most competitive prices.
Trained & Experienced Workforce
Committed to develop fine quality products in specified time framework, they
are adequately equipped with an efficient and dedicated team of personnel.
Possessing ample knowledge and experience, their employees fulfill every
consignment placed in a professional and innovative manner. This empowers them
to meet every specific requirement of the customers and offer products at
market leading prices.
They offer their clients a complete range of electrical products and
components that are extensively used in power industry to ensure safety and
hassle free connectivity. Each of the products manufactured is constructed
using superior quality materials that are good conductor of heat and
electricity and corrosion resistant. Their arrays of wide variety of products
include :
Z Purlin
Manufactured using superior quality galvanized steel, they offer their clients
a complete range of Z Purlin. Allowing for flexible design option, we extend a
fully integrated system. Featuring increased strength, reduced weight and a
long serviceable life, we supply Z purlin that are extensively used for
industrial buildings, garages, verandahs and carport. Apart from this Z
purlins are used in all those areas where a strong and reliable steel framing
is required.
C Purlin
Made from quality raw materials, all their C Purlin are specifically
manufactured using hi-tensile galvanized steel. Offering both generic
and a customized range, they provide every product with detail design and
engineering skills. C Purlin can either be used in single spans or in
continuous spans as per the requirement in multi-bay buildings. Finding
various applications, some of its common usage areas are in factory buildings,
large-span bridges, gymnasiums and portable houses.
Cable Trays
They offer a complete line of metal and fiber glass cable trays that are
available in different varieties as per the requirement. Along with their
superior range cable trays, they also provide their valued customers with an
authentic range of center hung tray and wire basket trays. Irrespective
of its indoor usage, cable trays provided by them can also be used outdoors
because they are corrosion protected. Thus, cable trays are used in an
environment where there is extreme salt content.
Types:
• Perforated
• Ladder Type
• supports
Galvanized with hi-tensile stainless steel metal, they offer their
clients an exclusive range of superior quality
Line Supports
Ideal for transmitting the electrical energy to trams, trolley buses or
trains, they offer their clients a full line of Line Support at market
leading prices. Also called overhead line, it is especially designed on the
principle of one or more overhead wires situated over various areas. Raised to
high electrical potential, we use high voltage electric grid to solve the
purpose .
Prefabricated
Building Structures Accessories
They offer a comprehensive range of superior quality accessories for
prefabricated building structures that are applicable to install roof access
(building products) permanently fixed to the load-bearing construction of
pitched roofs, to stand or to walk on during inspection, maintenance and repair
of facilities on the roof. We extend our clients with all necessary
accessories in various dimensions that are required for the construction of
roof, ceiling, fastening, etc. Each of the products supplied meets the specific
requirements of the customers as per their needs and requirements.
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. 40.47 |
|
|
1 |
Rs. 80.28 |
|
Euro |
1 |
Rs. 54.43 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|