MIRA
INFORM REPORT
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Report Date : |
13.06.2007 |
IDENTIFICATION DETAILS
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Name : |
ORIENT INDUSTRIES |
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Registered Office : |
46c, |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1964 |
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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 stainless steel / steel cut wire shots,
aluminium / zinc cut wire shots, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 4000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small concern having moderate track. Trade relations are fair. Payments are reported as slow but correct. The concern can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
46C, |
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Tel. No.: |
91-33-30525671 / 72 / 22885671 / 32961631 |
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Fax No.: |
91-33-22885671 |
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Website : |
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Area : |
500 Sq. fts. |
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Location : |
Rented |
PARTNERS
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Name : |
Mr. A K Poddar |
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Designation : |
Partner |
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Mobile No.: |
91-9830246507 |
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Name : |
Mrs. Shikha Poddar |
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Designation : |
Partner |
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Mobile No.: |
91-9830034775 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of stainless steel / steel cut wire shots,
aluminium / zinc cut wire shots, etc. |
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Products : |
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Terms : |
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Selling : |
Credit (30 days) |
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Purchasing : |
Credit (30 days) |
GENERAL INFORMATION
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Customers : |
Wholesalers and End Users |
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No. of Employees : |
2 |
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Bankers : |
ICICI Bank Limited R M |
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Facilities : |
The concern does not enjoy facilities from its bankers. |
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Banking
Relations : |
Unknown |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.000 million |
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Borrowed : |
- |
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Total : |
Rs. 1.000 million |
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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30.000 |
Expected Sales (2007-08) : Rs. 35.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade References
v
Bajaj Auto Limited, Pune (Purchase Department)
v
Tata Steel Limited,
Website details attached
Cut wire shot is manufactured from high quality wire,
where each particle is cut to a length almost equivalent to its diameter, if
required, the particles are conditioned (rounded) to remove the sharp corners
produced during the cutting process. It is composed of carbon and stainless
steel and has a wide application in diverse industries like gears, turbocharger
wheels, anti-lock brake parts, die-cast parts, medical parts, plastic tool
housing, sprockets, fuel injector parts, firearms, surgical instruments. This
wide application necessitates these products to display high quality wire
shots. Subject is the first firm in
Their company's high quality products are used in a wide range
of applications from sand removal for foundry and automobile components to shot
Peening in springs and aeronautics industry. Established in the year 1964,
their vast experience, expertise and specialization in their domain has fetched
them prominent clients in the national as well as International markets. They
regularly develop and improve their manufacturing techniques through meticulous
planning. Their sincere attention to details and taking into account, the
feedback and suggestions of our esteemed customers has fetched us a reputable
status.
Products
By the virtue of their innovative and
customer-friendly products, they occupy a central position in the marketplace.
However, it remains their constant endeavor to upgrade the quality of their
products to the maximum possible level. They are a renowned and an acknowledged
manufacturer and exporter of high quality products mentioned below:-
- Stainless Steel Cut Wire Shots
- Steel Cut Wire Shots
- Aluminium Cut Wire Shots
- Steel Shots & Grits
- Chilled Iron Shots & Grits
- Zinc Cut Wire Shots.
Infrastructure
Infrastructure is the lifeline of their company, comprising of
state-of-the-art machineries and experienced and dedicated set of employees. It
is well-equipped with sophisticated equipments like hardness tester, tensile
testing machine, spectrometer, etc. These form the assets of their corporate
entity, enabling them to explore new and undiscovered horizons in this arena.
In order to yield the best results from them, regular training sessions are
conducted for their employees. Besides, they also lubricate their machineries
from time to time and replace the old ones with new and improved ones. Thus,
their infrastructure is a real asset for them which opens up all the avenues of
their progress and advancement
Quality
They give top priority to the quality of their products, which form the trademark of their corporate entity. Their products go through stringent quality control measures right from the manufacturing level till the attainment of final product, ready for dispatch. Thus, their advanced quality checking machineries and rigorous quality checks, in accordance with the global standards leave no scope for even the slightest of defects.
Primary
Competitive Advantages
Best
quality raw materials, competitive price range, timely delivery, stable
infrastructure
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. 40.73 |
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1 |
Rs. 80.43 |
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Euro |
1 |
Rs. 54.44 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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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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36 |
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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