MIRA
INFORM REPORT
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Report Date : |
5.06.2007 |
IDENTIFICATION DETAILS
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Name : |
SHRUTI INDUSTRIES |
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Registered Office : |
Plot No. 11/ 109, Ramtekdi Industrial Estate, Hadapsar, Pune – 411013,
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1989 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
NSKS02389C |
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Legal Form : |
Subject is a sole Proprietory Concern. |
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Line of Business : |
Manufacturer of Ladder Type Cable Tray. |
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 40000 |
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Status : |
Good |
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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. Trade
relation are fair. Payment are usually correct and as per commitment. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered / Factory Office : |
Plot No. 11/ 109, Ramtekdi Industrial Estate, Hadapsar, Pune – 411013,
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Tel. No.: |
91-020-32905640 / 26820273 |
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Fax No.: |
91-020-26820273 |
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E-Mail : |
shruti_ind@rediffmail.com |
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Area : |
3500 Sq. Fts. (Total Area 11000 Sq. fts. ) |
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Location : |
Owned |
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SOLE PROPRIETOR
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Name : |
Mr. Satish Mundada |
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Designation : |
Proprietor |
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Date of Birth/Age : |
40 Years |
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Qualification : |
Graduate |
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Experience : |
18 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Ladder Type Cable Tray. |
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Products : |
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Terms : |
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Selling : |
Credit (30 to 60 Days) |
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Purchasing : |
Credit (30 to 60 Days) |
GENERAL INFORMATION
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Customers : |
Wholesalers, End Users, OEMs |
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No. of Employees : |
25 (In Office 5, In Factory 20) |
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Bankers : |
Bank of |
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Facilities : |
The Concern reported to enjoy some facilities from it’s banker. |
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Banking
Relations : |
Good |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.5.000 millions |
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Borrowed : |
Rs.5.000 millions |
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Total : |
Rs.10.000 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 |
80.000 |
36.000 |
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Expected Sales (2007-08) : Rs.100.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade Reference :
- Thenmax
Limited, Pune
- Welspun India
Limited, Mumbai
Web Details Attached
Overview
The Concern has been helping its customers worldwide undertake power
distribution process in a cost efficient and uncomplicated modus operandi with
its custom-engineered solutions. The concern are leading manufacturers and
exporters of cable tray, ladder type cable tray, perforated type cable tray,
floor trunking, raceways and grating. It’s international reach, application
experience, engineering expertise and large research and development commitment
allows them to deliver enhanced profitability and reliability to their
customers.
Cable Tray
Cable trays are being internationally used for power distribution as they offer
economical wire management solutions for a variety of indoor and outdoor
applications. They can handle more "cable fill" than other wiring
methods thus reducing the number of raceways required and also the associated
material and labor cost.
The vital cable network is now saved from corrosion, seepage and destruction by
using our unique cable tray system. Available in different dimensions to suit
your requirements, their wiring system is amongst the best.
Features of Products
As these products do not corrode, require little maintenance and are
lightweight (simplifying the installation and handling), the economical saving
begins almost immediately. Also, cable tray permits much greater spacing
between support hangers than most other systems, providing installation
savings. It’s entire range is available in different widths and lengths to suit
your requirements.
Strengths
Quality
From their beginnings to the present, The Concern worked Their way to the top
slot. Today The concern is front runners
in this industry and thier products represent world class quality. The quality
angle is strictly adopted right form sourcing raw materials upto the delivery
of the finished products. In achieving this, The concern is supported by strong R & D department and
country's top technical personnel. Time bound delivery provides the other
angle, which helped them gain their present position.
CLIENTS
Everything in the company is done from
the angle of "total quality to their clients" and the concern assure
you of best of products and services from their end. The concern enjoy an
immense reputation amongst its clientele because of high quality standards that
the company has been able to preserve since its inception.
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.40.47 |
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1 |
Rs.80.28 |
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Euro |
1 |
Rs.54.23 |
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 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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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54 |
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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