MIRA INFORM REPORT
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Report Date : |
02.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
INDO-AMERICAN EQUIPMENTS |
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Registered Office : |
5-22, Rupal Apartments No.1, 98-Dada Saheb Phalke Road, Dadar (East),
Mumbai 400014, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1993 |
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Legal Form : |
Partnership concern with an unlimited liability of the partner. |
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Line of Business : |
Manufacturer & Exporter of Seed & Grains Cleaning Plants,
Cleaner Grader, Destoner Gravity Separator, Elevator, Storage Bin Structural,
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 7500 |
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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 concern having satisfactory track.
Partners are honest and reliable. Their trade relations are fair. Payments
are usually correct and as per commitments. Nothing adverse reported. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
5-22, Rupal Apartments No.1, 98-Dada Saheb Phalke Road, Dadar (East),
Mumbai 400014, Maharashtra, India |
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Tel. No.: |
91-22-24149545 |
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Mobile No.: |
91-9823140741, 9820088547 |
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Fax No.: |
91-2482-220422 |
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E-Mail : |
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WebSite: |
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Location : |
Owned (Residence cum office) |
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Factory 1 : |
D-22 Additional, MIDC Area, Aurangabad Road, Jalna Maharashtra |
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Area : |
20000 Sq.ft. |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Milind S. Kayande |
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Designation : |
Partner |
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Address : |
5-22, Rupal Apartments No.1, 98-Dada, Mumbai 400014, Maharashtra,
India |
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Date of Birth/Age : |
47 Years |
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Qualification : |
Post Graduate |
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Experience : |
55 Years |
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Name : |
Mr. Andul Hafeez |
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Designation : |
Partner |
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Address : |
5-22, Rupal Apartments No.1, 98-Dada, Mumbai 400014, Maharashtra,
India |
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Date of Birth/Age : |
30 Years |
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Qualification : |
Graduate |
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Experience : |
7 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer & Exporter of Seed & Grains Cleaning Plants,
Cleaner Grader, Destoner Gravity Separator, Elevator, Storage Bin Structural,
etc. |
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Products : |
Seed Grader cum Cleaner, Destoner, Gravity Separator,
Needle Sorter, Elevators. |
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Agencies Held : |
Wyma Engineering Limited New Zealand |
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Exports : |
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Products : |
Seeds and Grains Cleaning Plants |
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Countries : |
Vietnam, Indonesia, Thailand, Philippines and New Zealand |
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Imports : |
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Products : |
Fruits and Vegetable washing and Grading units
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Countries : |
New Zealand |
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Terms : |
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Selling : |
Advance Payment |
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Purchasing : |
Credit (30 days) |
GENERAL
INFORMATION
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No. of Employees : |
15 (R&D-1, Service Department- 2,
Market Department-2 , Factory-10) |
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Bankers : |
IDBI Bank Aurangabad Branch, Aurangabad |
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Facilities : |
The Concern do not enjoy facility from its banker. |
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Banking
Relations : |
-- |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.500 Million |
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Borrowed : |
- |
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Total : |
Rs. 1.500 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2006 |
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Sales Turnover |
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10.000 |
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Export Value |
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2.000 |
Expected Sales (2007-08) : Rs. 20.000 Million
LOCAL AGENCY
FURTHER INFORMATION
From1st April 2007, entire business of the company
would be takenover by Indo American Equipments Private Limited incorporated on
13th Dec 2006 with an authorized capital of Rs. 0.100 Million and
Paid up capital to Rs. 0.100 Million
As Per Website:
Indo-American Equipments was established
in the year 1993 and today it is a highly recognized manufacturer and exporter
of Seed & Grain Cleaning Plants, Cleaner, Grader, Destoner, Gravity
Separator, Elevator, Storage Bin, Structural, etc. The machines designed
and developed by them are marked for their excellent performance and smooth
functioning. Their main objective is to supply high quality machines to the
clients who are satisfied by their features and working. They have built a
strong client base and the machines are in great demand in the global market
also. Major international market include Vietnam, Indonesia, Thailand,
Philippines and New Zealand.
Product Description
Seed Grader cum Cleaner
The function of this machine is to clean and grade the seeds and grains. Seeds
and grains have lot of dirt, inert matter, reject material, stones, dust and
plant parts when it is harvested and threshed. Only good quality seeds can give
good crop and similarly good quality grains that can be used to produce food
material for human consumption. To make this possible, it uses the principle of
screening and airflow to remove the unwanted material. The machine is
electrically powered to operate at desired speeds while maintaining quality.
Destoner
The function of this machine is to remove stones from the grains
and seeds. When seeds and grains are harvested in the field, usually mud
particles and small stones get mixed and form almost 5 to 7 per cent by weight.
Accurate setting of this machine can remove most of the stones with ease.
Machine is powered electrically and driven by a motor. A DC variable drive
motor controls the deck vibration.
Gravity Separator
It is a very useful machine to separate seeds or grains of same
size but different in weight. Usually seeds or grains do not develop in a
uniform manner and hence some seeds are light and some heavy in weight.
Non-uniform developed seeds do not germinate properly and thereby reduces the
output of the farm. The gravity separator separates such seeds into three
fractions, uniformly heavy seed, reject seeds and moderately developed seeds.
The machine blows air through a mass of seed traveling from one end of the deck
to another. The deck, a wire mesh bed vibrates the seed and causes
stratification of seed into light, medium and heavy material.
Needle Sorter
This machine has almost 20,000 Stainless Needles and does a wonderful job of
separating cotton seeds. Cotton is a cash crop of the Indian agriculture. Many
farmers around the country sow cotton crop and hence quality of the cottonseed
is most important. Needle Sorter is one of the important machines in cotton
seed processing. It separates the “Pin Hole” seed and cut seed from the lot of
averagely processed seeds. The removal of pin hole seeds and cut seeds enhance
the quality of the processed seed. Pin hole seed and cut seed form almost 5% to
7% quantity in the seed lot.
Elevators
Vertical bucket elevators are
required to connect the individual machines. The elevator feeds the machines
continuously.
Infrastructure
They have a well-equipped
engineering workshop having a lathe machine, welding equipments, shaping,
drilling and grinding machines. They have also developed special purpose
machines to make Needle Sorter equipments. The machines are operated by
well-trained and skilled technical trade persons. Equipments are built, tested,
installed and commissioned by a team of technicians lead by the promoters.
Company
Profile
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Business
Type |
Exporter
, Manufacturer |
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Export
Percentage |
10% |
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Sales
Volume |
Rs. 50.000
Millions |
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No
of Staff |
50 |
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Year
of Establishment |
1993 |
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No
of Production Lines |
1 |
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Investment
on Manufacturing Equipment |
Rs.
10.000 Millions |
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OEM
Service Provided |
No |
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No
of Engineers |
1 |
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No
of Designer(s) |
1 |
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.44.28 |
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UK Pound |
1 |
Rs.86.62 |
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Euro |
1 |
Rs.58.32 |
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 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
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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54 |
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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PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions