MIRA
INFORM REPORT
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Report Date : |
05.06.2007 |
IDENTIFICATION DETAILS
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Name : |
SADHANA ENGINEERING CORPORATION |
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Registered Office : |
8, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
Around 1967 |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the partners. |
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Line of Business : |
Manufacturer and Exporter of Cable Tray Support Systems, Overhead Line
Materials. |
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 : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an old established concern having satisfactory track. Trade
relations are fair. Payments are usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
8, |
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Area : |
Large |
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Location : |
Owned |
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Factory : |
Behind G.I.D.C., Patan, Char Rasta, Patan – 384265 |
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Tel. No.: |
91 -2766 - 20705 |
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Location : |
Rented |
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Sales Office : |
103, Black House, 1st Floor, W.H. Marg, Opp GPO, VT, Mumbai
– 400001 |
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Tel. No.: |
91-22-22700307 / 56324093 |
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Fax No.: |
91-22-22610803 / 23679935 |
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Mobile No.: |
91-9820070449 / 9820070451 |
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E-Mail : |
PARTNERS
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Name : |
Mr. Samir Shah |
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Designation : |
Partner |
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Qualification : |
Graduate |
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Name : |
Mr. Nikhil Shah |
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Designation : |
Partner |
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Qualification : |
Graduate |
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Name : |
Mr. Mahendra Shah |
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Designation : |
Partner |
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Qualification : |
Graduate |
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BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Cable Tray Support Systems, Overhead Line
Materials |
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Products : |
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Exports : |
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Products : |
Cable Trays |
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Countries : |
Europe, |
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Terms : |
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Selling : |
Credit 30 days, 60 days |
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Purchasing : |
Credit 30 days, 60 days |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
30 |
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Bankers : |
Barlard Estate, Mumbai – 400038
Fort, Mumbai – 400001 |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Mumbai
Mumbai
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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 |
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31.03.2007 |
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Sales Turnover |
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25.000 |
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LOCAL AGENCY FURTHER INFORMATION
Company Profile:
They introduce themselves as a leading
Manufacturer and Exporters of Cable Tray Support Systems, Perforated and Ladder
type, used for laying of electrical cables and M.S. gratings used in Power
Houses, Refineries, Chemical Plants, Buildings, Ships, Mines, Tunnels, Railways
etc. They also manufacture electrical earthing materials and overhead line
materials such as cross arms, stay rods, pole clamps, stay plates, connectors,
earthing electordes & strips, cross arm tie straps, shackle clamps, D
clamps, conductor accessories, Manhole safety steps, Hot dip galvanised and
stainless steel bolts, nuts, washers, fully threaded rods and hand bars mae out
of M.S. Deformed bars duly hot dip galvanised, engineering tools and other
machine parts with and / or without galvanising, fabricated steel pipes, poles,
Tubular & Steel structures, Sub-station structures etc., and various other
Hot dip galvanised steel / Aluminium Fabricated items, as per your drawings /
sketches and specifications.
Above materials are manufactured by them as
per the International Standards. They are having technically qualified /
experienced persons who can guide, if necessary, for use of the right type /
size of the Cable Trays for the installation, based on the economic aspects /
technical requirements, if full details / particulars are furnished to them.
They are the most organised and experienced company in Indian in the field of
manufacturing all above items to the stringent specifications.
They are well equipped to manufacture about
500 Tonnes of above items per month. Besides, they have their own Hot Dip
Galvanising Plant of Modern type. They can galvanise the materials upto the
length of 22 feet. The galvanising capacity is 500 Tonnes per month. Thus, it
can be seen that they have all the facilities for manufacturing, Hot Dip
Galvanising etc., which is an added advantage for fulfilling the deliveries.
This also facilitates them to exercise strict quality control at each and every
stage of production.
They are approved by the well-known
International Consultants like, Canadian Metchem-Canada, Simons Eastern-U.S.A.,
Snam Projetti - Italy., Spie-Capag - France, N.K.K. - Japan, Toyo- Japan,
Webank Preece Ltd., - U.K., Kellog (India) Ltd., Howe (I) Ltd., Engineers India
Ltd., Tata Consultants, Davy Powergas, ICB Ltd., Uhde (I) Ltd. Etc.
Cable Support
System:
A complete range of accessories & support
materials for all applications in Steel & Aluminium.
They offer you a variety of Cable Tray type
and construction to meet the requirements of even greater variety of tray
applications. One or more trays will be found to be most economical for a given
set of conditions. In general three types of cable trays are available.
- Ladder Type
- Perforated Type
- Channel Type
Standard widths are 150, 300, 450, 600 mm
sizes. All type of cable trays are made of Aluminium or Hot-Dip Galvanised
steel. Cable trays are available in lengths of 2.5 / 3/ 5 metres. Each item is
supplied with a pair of splice plates and necessary hardware. Cable Tray
fittings such as Horizontal bends, outside and inside vertical bends, 30, 45,
60 & 90 degrees having 300, 450 & 600 mm radius, Horizontal crosses,
tees, reducers etc. are also available.
The following steps will aid you in
selecting the tray best suited for your application.
A) What cables are being used ? What is the
cable construction ? The OD Construction of the smallest cable will usually
determine the rung spacing or bottom construction as recommended above. The OD
and construction of the larger cable will determine the fitting radius, due to
the minimum bending requirements of cable.
B) What are the space and / or field requirements
? Power cables are normally placed in a single layer and spaced 1/4 to one
cable diameter to allow adequate ventilation. Control and signal circuit cables
may be stacked in one ore more layers. Take note of any "future
requirements". It is much less expensive to select a wider or deep tray
now then to install another tray later.
C) You can now specify the tray type, the
tray width, depth and fitting radius.Sadhana Engineering Corporation based on
its years of experience has developed and standardised on a full range of cable
ladders, ventilated trays and cable ducts. Sadhana Tray System is low cost,
easy to install, most efficient, energy saving, cable laying system, look
elegant and is easy to maintain. Sadhana introduced Hot Dip Galvanised, light weight
sheet metal pre-fabricated cable tray system, replacing old system of
manufacturing cable ladders out of M. S. Angles and flats thereby reducing the
dead weight of tray increasing load capacity, economy in material, assembly
costs and installation time. All welded construction with a smooth inner
surface to prevent cable damage. All necessary direction, change fittings,
support materials, all accessories and connectors are available to complete the
system.
Ladder Trays can be ordered in five
different widths and four usable depths using four different rung spacing.
Medium heavy duty tray exceeds NEMA class II requirements.
CABLE SUPPORT SYSTEM
Is manufactured from continuously cold
rolled steel sections for light weight construction and then hot dipped
galvanised after forming. The range includes : Light, Medium, Heavy (Extra
deep) Heavy Duty cable Ladders for metal sheathed cables - Ventilated type
heavy duty cable trays to provide continuous support for non metal sheathed
cables - Ventilated and non ventilated type cable ducts to carry low power,
control, signal, instrumentation and telephone cables. The range is therefore
complete to carry economically, all types of HT and LT power cables, multi
conductor control cables, instrumentation and signal cables telephone cables
and conductor indoor, in plants, trenches, shafts, suspended in ceilings or
outdoors in highly corrosive atmospheres.
Sadhana Cable Support System is specially
designed for quick and easy assembly to give a made to measure perfectly
fitting criss cross of cable ladders and trays to neatly carry cables in your
entire installation and with a finish to give you that sophisticated look, at a
low cost.
Sadhana Cable Support Systems are designed
to withstand the dynamic loads, encountered during installation and to give you
full technical performance at a minimum cost. The range is complete and can
readily be adjusted to negotiate with all types of Architectural requirements.
High quality hot dip galvanising gives complete protection from corrosion. The
perfect surface treatments are maintenance free to give life expectancy as good
as the life of your installation
QUALITY
A long term commitment quality control at
every stage of process operations to maintain permissible tolerances.
Safety makes an essential aspect hence
requirements of ellaborate quality control methods. Sharp edges are specially
rounded off and burrs removed with extra care to prevent damage to cables.
Quality assurance methods at Sadhana
factories and plants are planned and coordinated specially in case of testing
supported by an independent quality assurance department, who looks at the
product through the eyes of the customer to satisfy high quality requirements.
Cable support system you select must be a
right one the first time and no second chance possible once the cables are
laid.
Sadhana Engineering Corporation - the
largest cable support system manufacturing company in
They are the most organised and experienced
company in the field of manufacturing cable support systems to the most
stringnent specifications. The innovation spirit in their company ensures a
maintained standard, for a product reliable and suitable for the intended task.
The extensive production and Galvanising
facility in their plant reflects this development / achievement and indicated
that Sadhana as a company can meet future demands with a strong commitment to
quality.
They specialise in Hot forging and Stainless steel fasteners
They serve:
- Transmission
towers / Sub station / Micro wave tower
- General
Engineering
- Material
handling systems
- Thermal power
plants
- Fertiliser
chemical & petrochemical industries
- Cement
industries, Mining etc
Overhead Line
Transmission Ironworks:
- Stay Rods
- Base Plates and Washers for Stay Rods
- Spindles for Screwed Insulators
- Pole Tie Rods
- Trussing Tackle
- Cross arms of all types
- Stay Swivels
- Shackles
- Shackle Insulator fitting "D"
Irons
- Straps and Bolts
- Cross arm tie Straps
- Terminal Straps
- Flat cross arm braces
- Double arming Bolts
- Double arming Plates
- Anchor Bolts
- Bracket Straps
- Cross arm U Bolts
- Telephone House Bracket
- Earthing Electrodes
- Earthing Strips
Heavy Duty Cable Trays
are especially suited for:
- Power Station
- Ships
- Mines
- Tunnels
- Factories
- Railways
Have a look at
Advantages of the same
Dramatic avings in
supporting steel work
Greater strength
and rigidity
Reduced number of
supporting points
Labout Savings
Easier to assemble
No cropping or
re-drilling
Can be cut
anywhere
Bolts, Nuts &
Washers included free of charges
Larger range of
widths 2" to 36" (50,, to 900 mm)
Greater variety of
intermediate sizes
Cover plates can
be attached
Extra cable
carriers can be fitted
2.5 Mtrs. length
normally supplied
Projects:
- Automic
Energy,
- National
Fertilizers Ltd. Panipat
- Badarpur
Thermal Power Project,
- General
Electric Co. Ltd.
- Crompton
Greaves Ltd.
- Kudremukh
Iron Ore Co. Ltd.
- Narora Atomic
Power Project
- Madhya
Pradesh Electricity Board, Japalpur
- KRIBHCO..
Hazira
- National
Aluminium Co. Ltd. Bhubaneshwar
- G.N.F.C.
Ltd., Bharuch
- NGEF Ltd.,
- Indo-Gulf
Fertilizers & Chem Ltd., Jagdishpur
- Bharat Heavy
Electricals Ltd.
- Tata Power
Co. Ltd.
- HBJ Gas
Pipelines Project
- Renusagar
Power Project FOR HINDALCO
- Buckau Wolf,
Pune
- GNFC Ltd.,
Bharuch
- BHEL, Trichy
- ICB Pvt.
Ltd.,
- Gujarat State
Fertilizers Co. Ltd.
- Chambal Fert.
Chem. Ltd.
- Finolex Pipes
Ltd.
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.40.55 |
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1 |
Rs.80.89 |
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Euro |
1 |
Rs.54.89 |
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
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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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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