MIRA
INFORM REPORT
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Report Date : |
20.06.2007 |
IDENTIFICATION DETAILS
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Name : |
DILIGENT MICRO CONTROLS |
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Registered Office : |
Bhatia Comp. No. 2, Lal Bahadur Shastri, Thane – 400602, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
02.04.1984 |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the partners. |
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Line of Business : |
Manufacturer of Autocon Burner Controllers, Flameye Flame Monitors,
Protectors for AC / DC Circuits, Thermocouple, Welding Units and Charger,
Automatic |
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 4000 |
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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 small 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/Factory : |
Bhatia Comp. No. 2, Lal Bahadur Shastri, Thane – 400602, |
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Tel. No.: |
91-22-2537999 / 65058581 / 25364738 / 56058581 / 56058582 |
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Mobile No.: |
91-9821098944 / 9322223000 / 9867253647 |
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Fax No.: |
91-22-25364738 |
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E-Mail : |
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Website : |
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Area : |
200sq.fts |
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Location : |
Rented |
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PARTNERS
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Name : |
Mr. Mohan T. Supe |
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Designation : |
Partner |
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Date of Birth/Age : |
59 Years |
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Qualification : |
Post Graduate |
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Experience : |
30 Years |
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Name : |
Mr. Padmaker T. Supe |
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Designation : |
Partner |
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Date of Birth/Age : |
57 Years |
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Qualification : |
M. sc. |
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Experience : |
28 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Autocon Burner Controllers, Flameye Flame Monitors, Protectors
for AC / DC Circuits, Thermocouple, Welding Units and Charger, Automatic |
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GENERAL INFORMATION
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No. of Employees : |
6 (Office) |
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Bankers : |
ICICI Bank Thane Rupee Coop Bank Limited Charai, Thane |
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Banking
Relations : |
Satisfactory |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.1.000 millions |
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Borrowed : |
- |
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Total : |
Rs.1.000 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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5.400 |
4.500 |
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Expected Sales (2007-08) : Rs.8.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade Reference:
©
Bharat Gears Limited, Thane, Mumbai
©
Thermax Limited, Pune
©
Singharia System Technology, Borivali (East),
Mumbai
©
Altotec, Aundh, Pune
©
Vinosha Services, Sewri, Mumbai
Company Details:
For more than a decade,
Subject is in the field of developing & manufacturing custom-built
electronic controllers & systems for specific industrial
applications. These are optimally designed & judiciously engineered
with adequate considerations to the environment & conditions likely to be
encountered in the field and, therefore, their field failures are
minimal. Use of Standard & proven components and sincere quality
control have contributed substantially towards long, un-interrupted &
reliable operation of Diligent Products in the field over past years. Some of
their standard & popular product range is briefly introduced here.
Diligent Micro Controls also manufactures special purpose timers, relay for
controlling metal container conveyor level switch for special applications etc.
Products:
Diligent
Flameye Flame Monitors and Flame Sensors :
Flame detection is most
vital in combustion systems, especially if system has automatic control.
Three basic techniques well accepted all over for flame sensing are -
1)using Diligent PR-EYE Photo Register flame sensor with Diligent Flameye PR
flame monitor. Diligent PV-EYE Photo Voltaic flame sensor with Diligent Flameye
PV flame monitor.
3) using
Diligent UV-EYE Ultra Violet flame sensor with Diligent Flameye UV flame
monitor.
Diligent
Autocon Controllers for Boilers / Furnaces :
Diligent
Micro Controls offers wide range of automatic controllers for controlling
startup, heat generation & shutdown cycles of boilers / furnaces and also
monitor
safety. These controllers are housed in sleek & strong m.s. enclosure
for economising panel space requirement and have plug-in-connection facility
for ease of replacement and in-situ testing without disturbing wiring.
Its outgoing commands are derived
from its control power supply and are all live. These controllers have
useful Status & Fault LED display. Control power supply of 230 V + /
- 10%, 50 hz, 1 Ř AC is
standard in all controllers. However, controller suitable for other
standard supply
can be supplied, on request.
Diligent
Special Purpose AC, DC and ThermiTrip Relays :
Diligent
Micro Controls has developed special of fully solid state 1 Ř & 3 Ř
AC relays to trip the motor in order to primarily prevent damage to the driven
mechanism and thereby avoid forced breakdown & consequential production
loss.
These relays are made in three versions; Instantaneous, Time-Delayed
& Jam.
Instantaneous relay always trips as soon as current exceeds set limit.
Time - Delayed relay trips if current stays above set limit for more than the
present time. Jam relay also trip instantaneously as soon as current
exceeds
present limit during operation, however, it does not trip when current exceeds
starting. Thus, Jam relay is unique & excellent protection for
loads such as
conveyor, fan / blower , etc where conventional protection does not prove
effective.
Diligent
ThermiTrip - 1 Relay trips the motor / transformer when temperature
of winding as sensed by the Thermister embedded inside it, exceeds present
limit.
This relay has specially designed option which does not allow load to be
switched on if Thermister gets either open-or short-circuited. Diligent
Thermi Trip-n is similar
relay but has capacity to process signal from n-thermister (max.6nos) and
actuate
common relay.
All the
above three versions of 3Ř - AC relays-are also available in combination
with other protections, such as; Single Phasing (SP) Protection and Phase
Reversal
(PR) Protection. Current in individual phase is continuously monitored
and processed
by specially developed circuit for reliable detection of single phasing and /
or overload
fault. A unique Status & Fault LED-display on the relay is
extremely useful in
system fault finding & correction as it indicates status of relay as well
as the fault
due to which relay has tripped. Combining multiple protection in single
relay
results in considerable saving or panel space and power wiring.
These AC
relays can also be adopted for protection of other electrical equipments
like transformer, alternator, heater, / voltage stabiliser etc.
Similar
relays have also been developed for DC motors, welding machine, battery
& charger etc.
Diligent
relays are designed with proper considerations to the operating field
conditions and are manufactured using standard & proven components
with
sincere approach towards quality control. Therefore they provide
long, continuous
and reliable operation in the field. Relay is housed in sleek &
strong m.s. enclosure
which need less space and permits high density stacking for compact panel.
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.40.75 |
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1 |
Rs.81.17 |
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Euro |
1 |
Rs.54.59 |
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 |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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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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