MIRA
INFORM REPORT
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Report Date : |
23.06.2007 |
IDENTIFICATION DETAILS
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Name : |
S.R. ENGINEERING CORPORATION |
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Registered Office : |
3895, Mori Gate, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1984 |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the partners. |
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Line of Business : |
Manufacturer, Exporter and Importer of any kind of Industrial Materials
and Automotive parts (any materials) apart 4m Plastics |
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 : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed concern having satisfactory
track. Partners are reported as experienced and respectable businessmen.
Trade relations are reported as fair. Business is active. 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 : |
3895, Mori Gate, |
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Tel. No.: |
91-11-23976954 |
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Mobile No.: |
91-9811000048 (Mr. Tushar Jain) |
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Fax No.: |
91-11-27021635 |
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E-Mail : |
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Website : |
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Area : |
500sq.mts |
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Location : |
Owned |
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Factory 1 : |
Siraspur, |
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Area : |
110sq.mts |
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Location : |
Owned |
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PARTNERS
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Name : |
Mr. Sajan Jain |
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Designation : |
Partner |
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Date of Birth/Age : |
50+ Years |
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Qualification : |
Graduate |
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Experience : |
30 – 35 Years |
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Name : |
Mr. Tushar Jain |
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Designation : |
Partner |
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Date of Birth/Age : |
24+ Years |
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Qualification : |
Post Graduate (Marketing and Production) |
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Experience : |
4 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of any kind of Industrial
Materials and Automotive parts (any materials) apart 4m Plastics |
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Products : |
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Exports : |
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Products : |
60% total production |
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Countries : |
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Terms : |
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Selling : |
TT |
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Purchasing : |
Cash |
GENERAL INFORMATION
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Customers : |
Wholesalers, Dealers, OEM’s |
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No. of Employees : |
25 – 30 |
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Bankers : |
Syndicate Bank Morigate Branch HDFC Bank Roop Nagar Branch |
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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.10.000 millions |
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Borrowed : |
- |
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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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10.000 |
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LOCAL AGENCY FURTHER INFORMATION
Company Details:
With an
inherent passion for perfection and craze for success, they were established in
the year 1984 to manufacture economical and reliable machine tools and
industrial components. Today, after more than two decades of rich experience, Subject
has established itself as a highly reputed manufacturer
and exporter of an extensive range of CNC Machine Components (Ferrous
and Non Ferrous), Industrial Supplies and Automotive Parts and Aluminium
Precision Components. Through their innovative ideas and
technical expertise, they have proclaimed a new dawn in design and development
of all these products, and offer new levels of excellence to their clients
spread all over the country and overseas.
Besides
novelty, innovation and technical expertise, they are also well known in the
industry for their strict adherence to quality. They never compromise with the
quality of their products and always try to incorporate the latest technologies
so that they can avail you the best products in the industry. In addition, they
also offer their customers highly reliable after sales service, customized
products, and efficient product delivery. Thus, they leave no stone unturned to
achieve complete customer satisfaction. This dedication and customer centric
approach prove to be the reason behind the peerless success of S.R. Engineering
Corporation.
Their
They are dedicated to offer
their highly esteemed clients the world class products which are highly
reliable, offer precision and last for a long period.
Their Quality
For them, the touchstone to achieve success is nothing but
quality. They are of the belief that only strict adherence towards quality can
pave the way for their success. This attitude inspires them to follow a
stringent quality control at every level of the production process. They have a
dedicated team of experts under whose strict observance; all the quality
checking operations are performed. To ensure the reliability of finished
products, they always emphasize upon using high quality raw materials and sophisticated
technology. All these quality control measures are responsible for premium
quality of their products.
Their Infrastructure
They have established a robust infrastructure which enables
them to successfully manage their clients' requirements. All their activities
are focused on the same goal - to achieve customer satisfaction through world
class products and efficient services. Their manufacturing unit is highly
sophisticated and possesses a range of the latest machinery. Besides, their
highly skilled workforce is also of great advantage to them, and enables them
to serve your requirements successfully.
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.40.71 |
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1 |
Rs.81.24 |
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Euro |
1 |
Rs.54.63 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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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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48 |
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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