MIRA
INFORM REPORT
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Report Date : |
29.06.2007 |
IDENTIFICATION DETAILS
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Name : |
MOHINDRA ENGINEERS |
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Registered Office : |
142, DSIDC Shed, Okhla Industrial Area, Phase – 1, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1986 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Spooling
Machine, Wire Drawing Machine, Vertical Spooling Machine, Patten Laying Drop
Coiler, Stainless Steel Wire Machines, Super Fine Drawing Machines, Layer
Winder for S.D. 300 plastic spool, Pay Off, etc. |
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 6000 |
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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 a well
established and reputed concern having satisfactory track. Proprietor is
reported as experienced and respectable businessman. Trade relations are
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 : |
142, DSIDC Shed, Okhla Industrial Area, Phase – 1, |
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Tel. No.: |
91-11-26816217/26812158 |
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Mobile No.: |
91-9810210700/ 9810603539/ 9911139300 |
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Fax No.: |
91-11-26816217 |
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E-Mail : |
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Area : |
110 sq. meter |
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Location : |
Owned |
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Factory 1 : |
145 DSIDC Shed, Okhla Industrial
Area, Phase-1, |
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Area : |
110 sq. meter |
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Location : |
Owned |
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Factory 2 : |
C-23, DDA Shed, Okhla Industrial Area,
Phase-1, |
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Area : |
100 sq. meter |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Bhupinder Singh |
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Designation : |
Chairman |
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Date of Birth/Age : |
38 Years |
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Qualification : |
Graduate |
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Experience : |
16 Years |
KEY EXECUTIVES
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Name : |
Mr. Pratap Singh |
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Designation : |
Chief Executive Officer |
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Date of Birth/Age : |
48 Years |
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Qualification : |
Graduate |
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Experience : |
25 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Spooling
Machine, Wire Drawing Machine, Vertical Spooling Machine, Patten Laying Drop
Coiler, Stainless Steel Wire Machines, Super Fine Drawing Machines, Layer
Winder for S.D. 300 plastic spool, Pay Off, etc. |
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Products : |
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Exports : |
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Products : |
Wire Drawing Machine |
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Countries : |
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Terms : |
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Selling : |
Advance, Cash or 30 days Credit |
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Purchasing : |
Cash or 30 days Credit |
PRODUCTION STATUS
Capacity to increase production by: 40
%
GENERAL INFORMATION
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Suppliers : |
Purchase of raw material from open market |
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Customers : |
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No. of Employees : |
About 12 |
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Bankers : |
Bank of |
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Auditors : |
Not Available |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.500 millions |
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Borrowed : |
Nil |
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Total : |
Rs. 1.500 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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7.000 |
6.000 |
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Profit/Loss for the year |
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12 % |
12 % |
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Expected Sales (2007-08) : Rs. 10.000 millions
LOCAL AGENCY FURTHER INFORMATION
As Per Web
Profile
With products that are renowned for high precision, finish, efficiency, technical
superiority and consistent performance, the subject have carved a valuable
niche in the national as well as international market. Established way back in
the year 1986, they have become the most preferred manufacturer and exporter of Spooling Machine, Wire Drawing Machine, Vertical Spooling Machine, Patten
Laying Drop Coiler, Stainless Steel Wire Machines, Super Fine Drawing Machines,
Layer Winder for S.D. 300 plastic spool, Pay Off, etc.
Their products are manufactured from the best technology and are
precision engineered to meet the standards of various international quality
monitoring organizations and our quality conscious customers. They keep
ourselves abreast of the latest developments, trends and technologies in the
industry; in order to constantly incorporate them in our processes and
services. Their integrated team of engineers and service professionals offers
in-depth expertise with focus on every detail to ensure that quality products
are delivered within the stipulated time and budget. Determined to be an
outstanding player in the global market, they are geared to meet 'customer
specific requirements' with total dedication.
Products
As a prominent manufacturer and exporter, they are engaged in an efficient
production of high quality products such as wire drawing machines, spooling
machines, etc. that are engineered as per the specifications of clients.
The product line includes:-
- Spooling Machine
- Wire Drawing Machine
- Vertical Spooling Machine
- Patten Laying Drop Coiler
- Stainless Steel Wire Machine
- Super Fine Spooling Machine - size range 0.06 mm to 1.00 mm
- Super Fine Drawing Machine
- Layer Winder for S.D. 300 plastic spool
- Pay Off.
Quality
Their customer focussed policies and measures have resulted in achieving
total customer satisfaction. They are a quality driven company. To ensure
top-notch quality and achieve customer satisfaction, production unit has been
the front runner in adopting a concerted programme on total quality management.
Their team of quality experts maintains a strict vigil on the manufacturing
process, right from the sourcing of raw material from reputed and well
established suppliers and distributors, to the dispatch of the products to the
customers. Their facility houses a functionally independent research and
development unit that is manned by a dedicated team of engineers. The research
and development unit is proud of all its installed modern tools and equipment
that efficiently operate during new product development.
Infrastructure
They have a robust infrastructure comprising of a well-equipped
manufacturing facility capable of handling the orders of any size and
dimension. All the machineries used in the manufacturing process conform to the
latest and updated technologies, yielding excellent results at low maintenance
cost. They are backed by a skilled and dedicated team of proficient engineers,
technicians and quality conscious professionals, who work with utmost passion
and utilise their skills to offer cost-effective and outstanding range of
products to the customers. Their capacious and well equipped warehouse is the
backbone of the company, exhibiting the capability to store bulk amount of
products as per the changing requirement of the market.
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.40.84 |
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1 |
Rs.81.81 |
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Euro |
1 |
Rs.55.03 |
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 |
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 |
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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46 |
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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