MIRA
INFORM REPORT
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Report Date : |
27.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
LAKSHMI PRECISION MACHINING CENTER |
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Registered Office : |
2/249, Narashimanaicken Palayam, M T P Road, Padmalaya Nagar,
Coimbatore – 641031, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
2004 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CMBL03409A |
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PAN No.: [Permanent
Account No.] |
AACFL1881E |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacture of Valves |
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 10000 |
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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. Proprietor is reported as experienced and respectable
businessman. 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/Fcatory : |
2/249, Narashimanaicken Palayam, M T P Road, Padmalaya Nagar,
Coimbatore – 641031, Tamilnadu |
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Tel. No.: |
91-422-2460398 |
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Fax No.: |
91-422-2460398 |
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E-Mail : |
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Website : |
SOLE PROPRIETOR/
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Name : |
Mr. S Ramakrishnan |
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Designation : |
Proprietor |
KEY EXECUTIVES
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Name : |
Mr. N. Ranganathan |
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Designation : |
Key Executive |
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Mobile No.: |
91-9442623372 |
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Name : |
Mr. S. Ramakrishnan |
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Designation : |
Key Executive |
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Mobile No.: |
91-9367775121 |
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Name : |
Mr. M Balaguruswamy |
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Designation : |
Key Executive |
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Mobile No.: |
91-9442649393 |
BUSINESS DETAILS
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Line of Business : |
Manufacture of Valves |
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Products : |
v Wedge Valve bodies v API - Threaded valve Bodies v Mud valve Body and Bonnets v Ball valve Body and Bonnets v Swing Check Valve Body and Bonnets v Orbit Valve Body and Bonnets v Plug (Seal) Valve body, Bonnets and Plates v Globe Valve body v Knife gate valve body v Tilting Disc valve body |
GENERAL
INFORMATION
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No. of Employees : |
29 |
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Bankers : |
State Bank of India, Coimbatore |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Memberships : |
Nil |
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Collaborators : |
Nil |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.500 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 2.500 Millions |
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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20.000 |
LOCAL AGENCY
FURTHER INFORMATION
As per website details
This is a new firm
in the Lakshmi Group. This firm was started in 2004. The parent company Lakshmi
valves Private Limited is today making its presence in the area of Valve
Industry. Lakshmi valves commitment to deliver superlative quality in terms of
precision and performance is evident from the wide acceptance both in India and
abroad in the manufacture of valves.
They supply precisely machined valve of knife gate, wedge gate, globe, swing
check, tilting disc check, ball valves, API threaded valves, mud valves, orbit
valves, and plug valves. Their valves abilities are truly exceptional. The
promoters team is from all round industry knowledge with over 25 years of
experience in multinational business institutions with multi faceted businesses
Lakshmi valves is
equipped with state of art machineries and inspection instruments in their both
Units.
Facilities at unit I
1. One CNC VTL - Daewoo make -model PUMA V 550 with a daylight of 750 mm and maximum machining diameter of 730 mm with a maximum swing of 800 mm with Z axis traverse of 780 mm with 8 station turret
2. One CNC VMC - Daewoo make - model ACE V 430 with a daylight of 720 mm with indexing pallet with individual size of 500 x 630 mm with traverse of X / Y / Z - 430 x 560 x 570 mm . Equipped with through coolant spindle of 20 bar pressure with 30 pockets ATC.
3. A granite surface table of 1000 mm x 1000 mm equipped with digital height gauge of Electronica make with an accuracy of 0.001 mm
4. Mitutoya make digital vernier calipers and depth gauges, inside bore mic tube bore mic & outside micro meter & ball vernier for RT J grooves
Facilities at unit II
1. Two horizontal machining centres of HMT make with table sizes of 630 x 630 and 500 x 500 size with Bt 50 toolings.
2. One CNC VTI – Hwacheon make with daylight of 720 mm and maximum machining diameter of 700mm and a swing of 800mm.
3. One CNC VMC - Daewoo make - model ACE V 430 with a daylight of 720 mm with indexing pallet with individual size of 500 x 630 mm with traverse of X / Y / Z - 430 x 560 x 570 mm. Equipped with through coolant spindle of 20 bar pressure with 30 pockets ATC.
4. Mitutoya make digital vernier calipers and depth gauges, inside bore mic tube bore mic &outside micro meter & ball vernier for RT J grooves
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
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.28 |
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UK Pound |
1 |
Rs.86.62 |
|
Euro |
1 |
Rs.58.32 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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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 |
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 |
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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43 |
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