MIRA
INFORM REPORT
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Report Date : |
05.06.2007 |
IDENTIFICATION DETAILS
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Name : |
WAAREE
INSTRUMENTS LIMITED |
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Registered Office : |
36, Damji Shamji
Industrial Estate, Off. |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
27.02.1989 |
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Com. Reg. No.: |
11-50808 |
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CIN No.: [Company
Identification No.] |
U29299MH1989PLC050808 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMW00885D |
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Legal Form : |
A closely held
public limited liability company. |
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Line of Business : |
Manufacturer and Exporter of Representatives of Process Control
Instruments for Pressure, Temperature, Flow, Level, Humidity, RPM, RTDs,
Thermocouples, Calibration Equipment, Gauges, Sensors, Transducers,
Transmitter, Switches and other allied accessories, Humidity Tx, HVAC
Instruments and Many More. |
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 530000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a
well-established company having satisfactory track. Trade relations are fair.
General financial position is satisfactory. Payments are usually correct and
as per commitments. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered Office: |
36, Damji Shamji Industrial
Complex, Off. |
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Tel No: |
91-22-2687
4778 / 66963030 / 66921338 / 66921339 |
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Mobile No: |
91-22-32550701(RIM) |
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Fax No: |
91-22-2687 3913 /
26873613 |
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E-Mail : |
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Website : |
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Dadra Factory : |
260/3/1, |
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Tel No.: |
91-260-2668006/8544(Telefax)
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Mobile No.: |
91-260-3293740 / 42
(Fac. RIM) |
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Email : |
waareedadra@waaree.com |
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Website : |
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Branch office : |
“ |
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Tel No: |
91-80–2210 3184 |
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Telefax No: |
91-80–2210 3184 |
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91-80-32932053(RIM), 91-9342672438 (S.N. Shetty) |
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E-Mail : |
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Website : |
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Branch : |
204-A, Centre Point, 2nd Floor, |
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Tel No: |
91-265-2310300 |
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Fax No: |
91-265-2339847 |
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Mobile No: |
91-9327691743(RA-RIM), 91-265-3254514(RIM) |
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E-Mail : |
waareebaroda@waaree.com, anandh@waaree.com
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Website : |
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Branch : |
Chennai Office Plot No.1193, ‘H’
Block, 12TH |
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Tel No: |
91-44-26161762 |
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Mobile No: |
91-44-32968587(RIM)/
91-9444034810(KA) |
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E-Mail : |
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Website : |
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Branch : |
23, Community
Centre, 2nd Floor, East of Kailash, |
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Tel No: |
91-11-5161
7111(Telefax)/ 91-11-2644 5332 |
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Mobile No: |
91-9811055694,
91-11-32527716(RIM) |
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E-Mail : |
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Website : |
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Branch : |
Cabin Number 12-A, 3rd Floor, S. C. O -371-73, Sector -34-A, Chandigarh-160034 |
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Tel No: |
91-172—3256409 |
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Mobile No: |
91-9316101421, 91-172-3956409 (RIM) |
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E-Mail : |
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Website : |
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Branch : |
Kolkata Office 53, |
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Tel No: |
91-33-22892996
(Telefax) |
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Mobile No: |
91-33-39507033(RIM) 91-9330925845(RNC
RIM) |
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E-Mail : |
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Website : |
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Branch : |
Pune Office 4-C, Sagar Corner, |
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Tel No: |
91-20-711 0847 |
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Fax No: |
91-20-712 5617 |
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E-Mail : |
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Website : |
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Branch : |
C/o K. Bijwe, New Pelanjkhedi Ram Nagar, |
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Tel No: |
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Mobile No: |
09371137644 (SD-RIM) |
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E-Mail : |
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Website : |
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Branch : |
Dharwad Office C/o M. Kumarswamy, R-28, Shambhavi Colony, Gandhinagar,
Dharwad. |
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Tel No: |
91-836-2462272 |
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Mobile No: |
91-9448450899 |
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E-Mail : |
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Website : |
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Branch : |
Dadra Office 260/3/1, Demni RoadNear Jindal Photo Films,Dadra Nagar Haveli,Dadra. (U.T.) - 396230 |
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Tel No: |
91-260-266 8006 / 544(Telefax)/91-260-2668485 / 9484 |
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Fax No: |
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Mobile No: |
91-9377006552(JP-RIM) 91-9377014038(PP-RIM) 91-9328210227(KP-RIM) |
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E-Mail : |
waareedadra@waaree.com, jitendrapatil@waaree.com
prakashparte@waaree.com
kailashpatil@waaree.com |
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Website : |
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Branch : |
520, Chenoy Trade Centre, Near |
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Tel No: |
91-40-55207066, 040 -
55207055 (Tel/Fax) |
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Mobile No: |
91-40-32950280(RIM) 91-9346619317(MS-RIM) |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr Hitesh Doshi |
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Designation : |
Director |
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Name : |
Mr Viren Doshi |
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Designation : |
Director |
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Name : |
Mr Kirit Doshi |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
Mr Firoz Shaikh |
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Designation : |
General Manager
(Mumbai) |
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Name : |
Mr Gautam Roy |
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Designation : |
Assistant General
Manager (Dadra) |
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Name : |
Mr S N Shetty |
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Designation : |
Regional Manager
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Name : |
Ms Kala |
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Designation : |
CRM ( |
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Name : |
Mr R Anandh |
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Designation : |
Regional Manager
( |
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Name : |
Ms Ashumi Mehta |
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Designation : |
CRM ( |
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Name : |
Mr Krishnan Arun |
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Designation : |
Regional Manager
(Chennai) |
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Name : |
Mrs R Jayalaxmi |
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Designation : |
CRM (Chennai) |
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Name : |
Mr Shivkumar
Gupta |
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Designation : |
Zonal Manager ( |
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Name : |
Mr Jitendra Patil |
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Designation : |
Assistant Manager
(Dadra) |
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Name : |
Mr Prakash Parte |
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Designation : |
Assistant Manager
(Dadra) |
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Name : |
Mr Kailash Patil |
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Designation : |
Assistant Manager
(Dadra) |
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Name : |
Mr Monesh Shroff |
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Designation : |
Regional Manager
( |
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Name : |
Ms Sheela |
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Designation : |
CRM ( |
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Name : |
Mr R N
Chakraborty |
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Designation : |
Regional Manager
(Kolkatta) |
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Name : |
Ms Baishakhi |
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Designation : |
CRM (Kolkatta) |
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Name : |
Mr Deepak |
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Designation : |
Branch Manager
(Pune) |
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Name : |
Mr Vinai Krishna |
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Designation : |
Branch Manager
(Mumbai) |
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Name : |
Ms Renu |
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Designation : |
CRM (Mumbai) |
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Name : |
Mr Satish Dhawale |
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Designation : |
Regional Manager
( |
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Name : |
Mr Virender
Malhotra |
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Designation : |
Assistant Manager
( |
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Name : |
Mr Uday Kodi |
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Designation : |
Senior Executive
Sales (Dharwad) |
MAJOR SHAREHOLDERS
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Names of Shareholders |
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No. of Shares |
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Mr. Hitesh C. Doshi |
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141395 |
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Mr. Viren C. Doshi |
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43200 |
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Mr. Pankaj C. Doshi |
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50950 |
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Mr. Kirit C. Doshi |
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38050 |
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Ms. Bina P. Doshi |
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64630 |
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Ms. Neepa V. Doshi |
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108350 |
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Ms. Binita H. Doshi |
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73080 |
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Mr. Chimanlal T. Doshi |
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63350 |
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Mrs. Rasilaben C. Doshi |
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90600 |
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Ms. Bindya K. Doshi |
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101180 |
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Ms. Bhavna K. Doshi |
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22650 |
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Pankaj C. Doshi (HUF) |
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27880 |
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Chimanlal T. Doshi (HUF) |
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66725 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Representatives of Process
Control Instruments for Pressure, Temperature, Flow, Level, Humidity, RPM, RTDs,
Thermocouples, Calibration Equipment, Gauges, Sensors, Transducers,
Transmitter, Switches and other allied accessories, Humidity Tx, HVAC
Instruments and Many More. |
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Products : |
Generic Names of Principal Products/Services of the company are :
The company's products range includes:
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Exports to : |
Argentina ,Kuwait ,Indonesia, Australia,
Malaysia, South Africa, Bangladesh, Mauritius, Sri Lanka, Brazil, Mexico,
Syria, Canada, Nigeria ,Taiwan, Chile, Pakistan, Turkey, China,
Philippines, UAE, Denmark, Poland, UK, Egypt, Saudi Arabia, Uruguay, Iran,
Singapore, USA, Israel, Korea, Venezuela, Italy, France, Zambia, Japan,
Russia, Kenya and Thailand |
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Imports from : |
Stati Uniti,
Italia, |
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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 : |
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Customers : |
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No. of Employees : |
375 |
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Bankers : |
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Facilities : |
Secured Loans :
Unsecured Loans : Fixed Deposit –
Rs.4.895 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
J D Shah and
Associates Chartered
Accountants |
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Address : |
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Group Companies : |
WAAREE OMNTEC ATG PRIVATE LIMITED -
Manufacturing Automatic Tank Gauging Systems for Retail Petroleum for NIVELCO INSTRUMENTATION INDIA PRIVATE LIMITED –
Marketing & Assembling Level Transmitters & other Level Instruments
for NIVELCO, WAANESS TECH PRIVATE LIMITED –
Manufacturing of Pressure & Temperature Gauges for NESSTECH, WAAREE MM PETROTECH PRIVATE LIMITED -
Manufacturing of LPG & Oil Dispensers with MM Petrotech, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50,00,000 |
Equity Shares |
Rs 10/- each |
Rs 50.000 Millions |
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6,00,000 |
Preference Shares |
Rs 10/- each |
Rs 6.000 Millions |
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Total |
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Rs 56.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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4036925 |
Equity Shares |
Rs 10/- each |
Rs.40.369 Millions |
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Share Application
Money |
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Rs.0.045 Millions |
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Total |
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Rs 40.414 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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40.414 |
40.414 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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92.350 |
65.446 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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132.764 |
105.860 |
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LOAN FUNDS |
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1] Secured Loans |
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89.387 |
57.458 |
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2] Unsecured Loans |
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4.895 |
0.000 |
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TOTAL BORROWING |
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94.282 |
57.458 |
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DEFERRED TAX LIABILITIES |
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7.947 |
6.060 |
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TOTAL |
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235.173 |
169.378 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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87.705 |
64.111 |
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Capital work-in-progress |
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10.698 |
13.592 |
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INVESTMENT |
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1.788 |
1.789 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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Sundry Debtors |
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102.405 |
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Cash & Bank Balances |
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6.409 |
168.673 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
|
30.798 |
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Total Current Assets |
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222.191 |
168.673 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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87.209 |
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Provisions |
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Total Current Liabilities |
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87.209 |
78.787 |
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Net Current Assets |
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134.982 |
89.886 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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235.173 |
169.378 |
PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover [including other income] |
|
385.129 |
289.480 |
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Profit/(Loss)
Before Tax |
|
36.219 |
24.020 |
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Provision for
Taxation |
|
9.187 |
6.309 |
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Profit/(Loss)
After Tax |
|
27.032 |
17.711 |
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Total Expenditure |
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348.910 |
265.461 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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7.02 |
6.12 |
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Net Profit Margin (PBT/Sales) |
(%) |
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9.40 |
8.30 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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11.69 |
10.32 |
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Return on Investment (ROI) (PBT/Networth) |
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0.27 |
0.23 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.37 |
1.29 |
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Current Ratio (Current Asset/Current Liability) |
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2.55 |
2.14 |
LOCAL AGENCY FURTHER INFORMATION
Company’s fixed
assets include Land, Factory Premises, Factory Lift, Plant and Machinery, Testing
Equipments, Electrical Fittings, Tools and Dies, Fire Extinguishers, Factory
Equipments, Computers, Office Premises, EPABX Board, Mobile Phone, Loft and
Vehicles.
AS PER WEBSITE
Company Profile
Waaree, founded in 1989 offers a broad range of products &
services for process control instrumentation & automation.
Since inception Waaree is continuously engaged in providing world class
instrumentation solutions.
Today, it has evolved as an organization with global reach and
having multi products & multi business activities.
Our quality policies are laid down on the ground of Total Quality Management.
To adhere to these standards Waaree continuously upgrades its technology &
resources in conformance with the ISO procedures and has been certified by TUV
as an ISO 9001:2000 company.
Our multiple manufacturing facilities offer a wide variety of:
·
Pressure Gauges & Switches
·
Temperature Gauges & Thermowells
·
Level Indicators & Switches
·
Flow Switches
·
Instrumentation Tube Fittings
·
Needle Valves & Manifolds
·
Diaphragm Seals
Waaree is known to be one stop shop for various instrumentation
products, thus apart from the manufacturing & service business, the company
has associations with multiple world class principals. With their technology
and products, Waaree caters to its customers also for their requirements
of:
·
Digital Gauges for Pressure & Vacuum Measurement
·
Piezoresistive as well as Smart Pressure Transmitters
·
Instruments for Air Velocity, Moisture, Humidity & Dewpoint
Measurement
·
Gas Detection & Analysis Solutions - Portable & Online
·
Water Analysis, Density & Concentration Measurement - Portable
& Online
·
Level Monitoring, Controlling, Tank Gauging & Interface Level
Solutions
·
Monitors for Opacity & Dust Measurement
·
Rotameters & Volumetric Flowmeters
·
Ultrasonic Gas Leak Detection
·
Solutions for Process parameters Measurement info by SMS
technology
The trio of the above makes us clearly the customer's first choice
and enables us to cater to the majority of their business needs.
Waaree offers services for onsite / offsite calibration and
repairs of diaphragm seals.
Milestone
·
Inception of company in 1989
·
Pressure & Temperature Gauges production started at
Dadra
·
Introduced All SS & Socket welded to Case first time in
·
First private gauge manufacturing company to have NABL
accreditation for Calibration Laboratory
·
Implemented ISO 9001 status for Quality Management
·
Agency tie-ups of world leaders like Dwyer, Keller, Inor,
Nuovafima
·
Takeover of Industrial Pressure gauge manufacturing facility of
Pricol
·
Production of Temperature Elements, Level Switches & Pressure
Switches
·
Takeover of Anmol Fluid Control Private Limited, a leading
manufacturer of Needle & Manifold Valves
·
Exclusive Agency of Ametek Drexelbrook & Ametek Jofra
·
Started exports in 2001 for pressure gauges and executed largest
pressure gauge order in Indian history in 2004 for USA & China
Markets
·
Tie-ups with world class Gas Analysis & Detection companies
like Detcon, Systech, Gassonic, Eurotron
·
Diversification into opacity monitoring and liquid analytical
instruments.
·
Awarded the fastest growing instruments company in
·
Launched
·
Approvals of EIL, PDIL, Mecon, TCE and other leading consultants
& contractors.
·
More than 450 employees and 14 offices in
Vision –
Vision:
"To evolve as the best global Instrumentation & Automation Company, by
providing unmatched quality products & services, in all fields of
Instrumentation & Control, at the most competitive prices, meeting or
exceeding the customer expectations."
By virtue of their commitment to customer satisfaction, they shall strive to
provide continuous improvement in the quality of products, services &
people.
This shall be
achieved by
Continuous development of their people and
their ideas through training & developing knowledge base.
Make all employees aware of the ultimate
importance of quality and their role in achieving quality products &
services.
Encourage & improve R&D activities to
explore & exploit the unknown.
Continuously introduce & market, new
cutting edge technology products and cost effective application solutions.
Continuous up-gradation of their business and
laboratory to include new services and upholding the value entrusted to us
by accreditation agencies.
Goal:
Waaree’s Commitment –
Meet & Exceed Customer Expectations.
Enhance Quality of Products, Services &
People.
Team work & Entrepreneurship.
Encourage Innovation & Creativity.
Sense & Pride of ownership.
Respect for Individuals
History
'WAAREE" has founded by Doshi family on 3rd October
1989
Company has started the manufacturing of Thermometers with 4
people at Andheri in Mumbai.
In 1989,
- Inception of the company with 20% share of Doshi family.
- Started trading & repairing of MST thermometer.
- Rental property, area of 150 sq.ft.
In 1990,
- Started manufacturing of M.S. Thermometer, production of 5
pc a day - Established a residential representation in PUNE.
- Company's first property purchased Industrial area at
Vasai near Mumbai, area of 400 sq.ft.
In 1991,
-
Production of M.S.T increased to 20 pc a day.
-
- First branch started at
In 1992,
- Production for Bimetallic Thermometer started.
- First indirect export order executed.
- Product area increased to 800 sq.ft.
In 1993,
- First time use of micro bore capillary used in thermometer.
- Production started as imports substitutes.
In 1994,
- Production capacity for all products doubled
- DOSHI family take over 100% shares in WIL.
In 1995,
- Production of pressure gauges, temperature gauges, thermocouples &
RTD's started.
In 1996,
- Calibration Lab traceable to NPL installed.
- The production of manufactured products increases by 100%.
In 1997,
- Imports first consignment of Nuovafima gauges.
- Production facility started at DADRA.
- WAAREE standardizes for the time in
>Stainless Steel Case
>Socket welded to the Case
>Bourdon tube sizes as per IS - 3624
- Started receiving consultant approvals.
- New branches setup in 3 cities in
In 1998,
- Transformation of the Dadra manufacturing facility as an integrated
production house.
- Distributorship for international companies like Dwyer, Arthermo &
FT Manovia.
- Corporate office inaugurated at Andheri, Mumbai.
- European standards followed for manufacturing pressure gauges.
- Onsite Calibration contracts taken up.
In 1999,
- Foreign agencies of Keller, Inor & ITEC added.
- The production output doubles up.
- New Infotech division started at Mumbai providing Internet and web
software solutions.
- The company becomes the largest distributor for Satyam Infoway.
- Export department reoriented
In 2000,
- Acquires production facility from PRICOL for the industrial pressure
gauges.
- www.instrumentationguide.com,
- Acquires 100% stake in Anmol Fluid Controls Private Limited
- Export for pressure gauges in
- Also gains the status for the largest exporter of pressure gauges in
the country.
- WAAREE Lanka, first overseas unit started in
In 2001,
- Launches Instrumentation handbook first time in
- Corporate newsletter "Controlfusion@WAAREE" launched
- The company exhibits it product range first time at ISA exhibition,
- New branches started.
- Company achieves ISO 9002 certification.
- The calibration laboratory gets NABL accreditation for pressure
facility.
In 2002,
- Initiation and formation of Instrumentation Experts Club (IEC) forum.
- Starts production of level switches.
In 2003,
- Formation of Shree WAAREE LLC,
- WAAREE projects and consultancy division formed at Head office.
- Exclusivity agencies like Omntec, Ametek - Drexelbrook, Ametek -
Jofra
- New office at
- First Online instrumentation super store launched
"www.instrumall.com"
- The company upgrades to ISO 9001 status.
- First private company in
In 2004,
- Formation of 4D company
- Largest export order for pressure gauges executed in Indian
history.
- New branch office for Mumbai,
- Expansion of existing branches like Dadra,
- Regional office started at Ahmedabad
- WAAREE is the sponsor for
- New agencies added like Daehan, Pixys, Fatek, Onspec
- Addition of new products & technologies like SCADA & PLC
- SAP Implementation
- The calibration laboratory gets certification for temperature facility
also.
In 2005,
- Launch of Instrumentation Super Store's @ Vapi &
- Formation of EOU
- Addition of new products & technologies like DCS
Representative
AMETEK
JOFRA -
TemperatureC Baths
Pressure CalibratorsC
Dead Weight TestersC
MultifunctionC Calibrators
REVUE
THOMMEN –
DigitalC
Instruments for Calibration
Mechanical Instruments forC Calibration
DWYER
INSTRUMENTS INC. -
Measuring,C
Controlling & Transmitting Instruments for Pressure, Temperature, Level,
Humidity & Flow
E + E
ELEKTRONIK -
Humidity /C Dew
point Temperature Transmitters/ Switches
Air Velocity Transmitters /C Switches
KELLER
–
PressureC
Transmitters (Piezoresistive)
Digital Pressure GaugesC
PressureC
Calibrator Hand Pump
NIVELCO
-
Level SwitchesC
C Ultrasonic Level Transmitter
Capacitance ? MagnetostrictiveC Tx
OMNTEC
MFG. INC.-
Automatic TangC Gauging
Liquid LevelC & Leak Detection Systems
RelaysC
PumpC
Control Systems.
PAROSCIENTIFIC
INC -
Pressure standards
Metrology Products
Precision Pressure Instruments
Barometric Standard
Depth Sensors
Opal
Environmental -
OnlineC
Opacity Monitors
Online Dust MonitorsC
Online OxygenC Analyzers
Systech
Instruments –
Online OxygenC Analyzers
Online Moisture AnalyzersC
Online Carbon DioxideC Analyzers
Programmable Gas AnalyzersC
Eurotron
Instruments –
GasC
Analyzers
Process Calibrators C
InfraredC Thermometers
Gassonic
–
Ultrasonic Gas LeakC Detectors
Process Calibrators C
InfraredC
Thermometers
AUTROL
-
Smart PressureC Transmitter
Smart Temperature TransmitterC
Differential PressureC Transmitter
HART CommunicationC
GEMS
SENSORS INC.-
PressureC
Transmitter, Pressure Switches
Level transmitter, Level switches C
FlowC
transmitter, flow switches
INOR –
TemperatureC Transmitter
Signal Isolators C
MyronL
Company – USA
pH, ORPC
measurement
Conductivity Meters C
TDS / Dissolved OxygenC Meters
HVAC, Air velocity, dew point
TransmitterC
HVAC-C
Anemometer, datalogger
Differential pressureC transmitter
Test benchC
calibratorsC
Level switchC
Level transmitterC
Centec
–
Density AnalyzersC
C Concentration Analyzers
Ultrasonic Concentration TxC
Programmable GasC Analyzers
Waaree chose to go for SAP for the complete knowledge
management and have a total integration of real-time business processes --
connecting employees, suppliers, partners, and customers.
The following are few of the benefits to the organization:
>>> Better decision-making - Access of the right information in
real time will help to identify concerns early and pursue opportunities
proactively.
>>> Improved productivity, efficiency, and responsiveness --
Extend the reach of business processes to connect more people in real time --
within and beyond the enterprise. Have easy access to consolidate, consistent
views of processes.
>>> Reduced costs through increased flexibility -- Deploy
additional business functionality as needs evolve, reducing costs and
facilitating change.
>>> Adaptability to business change -- Seamless integration of
end-to-end processes, and takes advantage of the latest Web-based
technologies.
>>> Better financial management and corporate governance - will
help to Gain deep visibility into the organization and fulfill global needs and
legal requirements, for example, for international accounting standards,
payroll, and corporate governance.
>>> Optimized IT spending - Elimination of high integration
costs and the need to purchase supplemental third-party products. Deploy
additional solutions incrementally, as needed.
>>> Higher staff morale and productivity -- Provide employee
self-services to boost staff morale and increase productivity
Calibration::
Laboratory is set as per ISO-17025 standard for pressure, temperature and
humidity.
Inclusions of humidity & temperature primary standards.
New
inclusion
Inclusion of dimension standards for length measurement.
Calibration of micrometer, vernier calipers, scale, measuring tape etc.
Accredation
Formal recognition for technical competence.
Accurate, reliable & reproducible
Calibration & measurement data
Key role during technology transition in an industry
TESTING FACILITY:
To maintain top quality of the various products handles by us,
they have adopted system of mandatory inspection and testing, as well as
conduct periodic quality audits and system evaluations. All the components pass
rigorous Type Tests before they are put in production line. Foolproof incoming,
in process and final tests of each and every product enables us to maintain
best quality products.
LABORATORY:
Their continuous efforts to produce quality products, comparable to
international standards, inspired us for having their own testing laboratory
under the guidance from NPL,
Exports
Today subject is
the largest exporters of Pressure Gauges in the country. Subject is one of the
fastest growing instrumentation and control company in
Subject has started exporting pressure and temperature gauges since 2000. Since
2002, subject became the biggest Exporters of Pressure Gauges /
Thermometers. Apart from Pressure Gauges, subject export Accessories like
Thermowells, Gauge Saver, Syphon, Snubber and other products like Level
switches, Level gauges, Thermocouples, RTDs and Glass Thermometers
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.40.56 |
|
|
1 |
Rs.80.81 |
|
Euro |
1 |
Rs.54.74 |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
YES |
|
--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 |
|