MIRA
INFORM REPORT
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Report Date : |
26.06.2007 |
IDENTIFICATION DETAILS
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Name : |
MULTI HYDROSYSTEMS |
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Registered Office : |
2132, Sadashiv Peth, 104, Trimurti Apartment, Vijaynagar Colony, Pune
– 411030, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1995 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEM06727A |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Distributors for pumps and Tanks |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 80000 |
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Status : |
Good |
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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 fine track.
Trade relations are fair. Payments are usually correct and as per
commitments. The concern is doing very well. It can be considered good for any normal business dealings at usual
trade terms and conditions. |
LOCATIONS
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Head Office : |
2132, Sadashiv Peth, 104, Trimurti Apartment, Vijaynagar Colony, Pune
– 411030, |
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Tel. No.: |
91-20-24336670 / 80 / 90 |
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Fax No.: |
91-20-24336670 / 80 / 90 |
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E-Mail : |
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Website : |
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Area : |
2000sq.fts |
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Location : |
Owned |
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Branches : |
5, Rajdurga Premises CHS, B – |
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Tel. No.: |
91-02-24336680 |
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Branches : |
501, Highway Commercial, |
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Tel. No.: |
91-20-26865750 / 51 |
SOLE PROPRIETOR
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Name : |
Mr. Dhanjay J. Limaye |
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Designation : |
Proprietor |
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Date of Birth/Age : |
50 Years |
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Qualification : |
B. E. (Mech) |
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Experience : |
24 Years |
BUSINESS DETAILS
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Line of Business : |
Distributor for Pumps and Tanks |
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Products : |
Grundfos ♠
Heating and Hot Water Service System ♠
Cooling and air-conditioning systems ♠
Pressure Boosting and Liquid Transfer ♠
Domestic water Supply / Pressure Boosting Antico ♠
Investa ♠
Diaflow Zilmet |
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Agencies Held : |
Microfinish, |
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Imports : |
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Products : |
Tank |
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Countries : |
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Terms : |
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Selling : |
Credit (30 dasy) |
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Purchasing : |
Cash, Credit (30 days), Advance payments. |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers, End Users |
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No. of Employees : |
30 (Office) |
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Bankers : |
Bank of TMG Colony, Pune Cash Credit: Rs.3.000 millions ABN Amro Bank Mumbai Cash Credit: Rs.7.000 millions |
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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 : |
Rs.10.000 millions |
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Total : |
Rs.20.000 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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60.000 |
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Import Value |
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1.000 |
Expected Sales (2007-08) : Rs.100.000 millions
LOCAL AGENCY FURTHER INFORMATION
Company Details:
Subject is a marketing organisation for an exclusive range
of hi-tech rotodynamic pumps, was established in 1995. Within a short span of 5
years, it has build up a reputation in the market for quality products and
excellent after sales service back-up.
The
company is headed by Mr Dhananjay J. Limaye a BE (Mech), who has more than 24
years of experience in pumps.
Business Associations
They
are a potential source for all pumping needs in the market and they take pride
to be the Authorised Distributors of Grundfos.
is a world renowned make for pumps and hydropneumatic systems, reverse osmosis
plants, boiler feed, high pressure coolant systems etc.
They are also the authorised distributors for Antico (Polypropelene), Investa, Price Pumps, the names synonymous
with a wide range of applications such as Corrosive Fluid Handling, Double
Diaphragm pumps and corrosion resistant self-priming pumps since 1995.
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.40.95 |
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1 |
Rs.81.80 |
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Euro |
1 |
Rs.55.09 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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PAID-UP CAPITAL |
1~10 |
7 |
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OPERATING SCALE |
1~10 |
7 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
7 |
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--LIQUIDITY |
1~10 |
7 |
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--LEVERAGE |
1~10 |
7 |
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--RESERVES |
1~10 |
7 |
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--CREDIT LINES |
1~10 |
7 |
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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 |
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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65 |
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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