MIRA INFORM REPORT
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Report Date : |
18.06.2007 |
IDENTIFICATION DETAILS
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Name : |
CHEMI
FLOW RUBBER INDUSTRIES |
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Registered Office : |
Opp.
Greaves Limited, Mumbai |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1980 |
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Legal Form : |
Sole
Proprietory Concern. |
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Line of Business : |
Manufacturers of All Kinds of Sophisticated Rubber & Bakelite
Moulded Parts, Steel & Rubber Bushes, Diaphragms, Disc
Couplings, O Rings, Hydraulic Seals, Canvas Seals, Chevron Packings, Cup
Buckets, Bushes, Sleeves , Rubber Sheets , Hoses , Bellows And Any Component
To Drawing And Specification In Natural Neoprene, Nitrile, Silicon, Viton,
Polyurethane, Polyolefin, Epdm, Hypalon Etc. |
RATING
& COMMENTS
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MIRAs 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
9000 |
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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 established concern having satisfactory track. Trade relations are
fair. Payments are 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 : |
Opp.
Greaves Limited, Mumbai Pune
411019, |
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Tel. No.: |
91-20-27473326
/ 56111096 |
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Mobile No.: |
91-9822024424
/ 91-9370146611 |
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Fax No.: |
91-20-27476471 |
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E-Mail : |
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Website : |
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Area : |
350
sq. ft. |
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Location : |
Owned |
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Factory
1 : |
Gat No. 82, |
SOLE
PROPRIETOR
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Name : |
Mr. F S Fernandes |
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Designation : |
Sole
Proprietor |
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Date of Birth/Age : |
45
Years |
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Qualification : |
Graduate
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Experience : |
19
Years |
BUSINESS
DETAILS
|
Line of Business : |
Manufacturers of All Kinds of Sophisticated Rubber &
Bakelite Moulded Parts, Steel & Rubber Bushes, Diaphragms,
Disc Couplings, O Rings, Hydraulic Seals, Canvas Seals, Chevron Packings, Cup
Buckets, Bushes, Sleeves , Rubber Sheets , Hoses , Bellows And Any Component
To Drawing And Specification In Natural Neoprene, Nitrile, Silicon, Viton,
Polyurethane, Polyolefin, Epdm, Hypalon Etc. |
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Products : |
Chevron Packing (Canvass Seals) Anti-Vibration Mounting Pads. O Rings. Quard rings. Diaphragms. Double lip seals. Buffers. Steel / rubber bearing bushes. Bushes Disc couplings. Double Pot Seals. Washers & Cup buckets. Wiper Ring. Rubber rollers. Gaskets & Rubber Liner Pads. Expansion joint bellows. Sponge Rubber Seals. Rubber sheets. |
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Exports to : |
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Terms : |
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Selling : |
Credit
(30 to 60 days) |
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Purchasing : |
Credit
(15 to 45 days) |
GENERAL INFORMATION
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Customers : |
End
users |
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No. of Employees : |
About
40 |
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Bankers : |
Cosmos
Co-operative Bank Limited Pune |
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Facilities : |
The concern
do not enjoy any facility from its bankers |
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Banking Relations : |
Satisfactory
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Auditors : |
L V
Ladda and Company Chartered
Accountants Pune, |
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CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
2.200 Millions |
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Borrowed : |
Nil |
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Total : |
Rs.
2.200 Millions |
FINANCIAL
DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
13.000 |
8.900 |
9.500 |
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Export Value |
NA |
10 % |
NA |
Expected
Sales March 2007-08 : Rs. 20.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade
Reference
ุ
KSB Pumps Limited, Pune and
ุ
Tata motors Limited, Pune
ุ
Themore Limited, Pune
ุ
Force Motors Limited, Pune
As per
website
The
companies has already completed 25 years in this line, and are proud enough to
say that, in this period, they have made theirselves a name which links with
quality and services.
They have their own tool room & press shop, Where they can manufacture any
odd component to the given specification and size maintaining close tolerances,
to the entire satisfaction.
LIST OF MACHINERY
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Machines |
Qty. |
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HYDRAULIC
MACHINES 35" X 35" 300
tons single daylight BECO. make. |
1 No. |
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HANDFLY
COMPRESSION MOLDING MACHINES. 14" X 14" GG make |
2 Nos. |
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RUBBER
MIXING MILLS. |
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RUBBER
EXTRUDER MACHINE. |
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LATHE
MACHINE
PARMAR make |
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SAND BELT GRINDERS |
2 Nos. |
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BENCH GRINDERS |
2 Nos. |
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DRILL MACHINE |
1 No. |
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BAKELITE
TRANSFER MOULDING HYDRAULIC MACHINES |
2 Nos. |
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BAKELITE INJECTION MOULDING |
2 Nos. |
Lab for R&D testing raw materials &
finished components are available in house.
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 Intl 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
companys 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. 40.97 |
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|
1 |
Rs. 80.73 |
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Euro |
1 |
Rs. 54.56 |
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 |
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 |
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 |
|
42 |
This score serves as a reference to assess SCs 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 |
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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 |