MIRA
INFORM REPORT
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Report Date : |
09.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
MICROCAD SERVICES |
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Registered Office : |
865, 7th Main, 3rd Cross, Hal 2nd
Stage, Indiranagar, Bangalore-560008 Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1996 |
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Legal Form : |
Partnership concern with an unlimited liability of the partner. |
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Line of Business : |
Subject act as a emerging service provider of Printed Circuit Board
Design, Fabrication, Assembly and CAD/CAM |
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. Partners are reported as experienced and respectable businessmen.
Trade relations are reported as fair. Business is active. Payment are usually
correct and as per commitments. The concern can be considered normal for business at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
865, 7th Main, 3rd Cross, Hal 2nd
Stage, Indiranagar, Bangalore-560008 Karnataka |
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Tel. No.: |
91-80-2520 2771/2520 2911 |
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Mobile No. |
91-9341216661,91-9341215482 |
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Fax No.: |
91-80-2520-2911 |
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E-Mail : |
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Website : |
www.microcad.co.in |
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Area : |
3000 Sq. ft |
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Location : |
Leased |
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Branches : |
Located at : Coimbatore |
PARTNERS
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Name : |
Mr. M. C. Praveen Kumar |
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Designation : |
Partners |
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Date of Birth/Age : |
35 Years |
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Qualification : |
B.E |
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Experience : |
15 Years |
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Name : |
Mr. Vivekanand |
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Designation : |
Partners |
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Date of Birth/Age : |
32 Years |
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Qualification : |
B.E. |
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Experience : |
15 Years |
BUSINESS DETAILS
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Line of Business : |
Subject act as a emerging service provider of Printed Circuit Board
Design, Fabrication, Assembly and CAD/CAM |
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Exports : |
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Countries : |
UK, USA and Europe |
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Terms : |
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Selling : |
T.T Local sale: 30 days |
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Purchasing : |
Local sale : 30 days |
GENERAL
INFORMATION
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Suppliers : |
Inter Communication System P.C. Processes,(Bangalore) Shri Techno Solutions |
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Customers : |
GE (USA) B.E.L Siemens(Germany) Rober Bosch (Germany) and ( India) B.H.E.L Crompton Greaves limited B.S.N.L I.T.I.limited Ericsson |
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No. of Employees : |
Total:33 (Techincal:30; Other:3) |
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Bankers : |
Vijaya Bank Indiranagar, Bangalore-560008 |
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Facilities : |
Operating on own funds |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Perumal Swamy Bangalore Chartered Accountant |
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Associates/Subsidiaries : |
Indian Printed Circuit Board/Association |
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 |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
10.000 |
7.000 |
6.000 |
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Export Value |
7.000 |
5.000 |
4.500 |
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Pretax indicated around: 30%
LOCAL AGENCY
FURTHER INFORMATION
P C B Design and services-PCB Assembly Schematics capture for Electronic Circuits P C B Design from 1 to Multi Layers for Military Grade and Indl. grade parts and foot Print Creation, CAM: Design for Manufacturing Fabrication: Single/Double/Multi
About Them
Micro Cad Services is an emerging service provider of Printed Circuit Board Design, Fabrication, Assembly and CAD/CAM. Established in 1996, they have extended their sales all over the world with high quality products and continuothem excellent services. In addition to the development, they also focus on the development of high technology products with high added value to market needs. They regularly develop new products and improve quality to meet customer's demands sincerely and honestly.
The company's USP has been its high level of professional efficiency in all its operational mechanism catering to the demands and preferences of marketplace. Adhering to the principle of “Good Credit and Services”, they place much emphasis on quality control. In order to provide customers with the best products, they have implemented standardized manufactured systems, which are supervised and managed in-line with the best international practices.
Their organization strives to deliver perfection in everything, they perform. Their quality services match the international standards, as they believe in maintaining long term business relationship with their customers. They take pride in being the most customer-oriented company. The safety and prompt delivery are the supreme goals of the company. They have been serving the customers with reliable, efficient and professional services.
Following strict quality control procedures, their products are fully complying with national and international standards. Moreover, Research and Development and improvement of innovative product services has brought them more opportunities and competitive advantages in both domestic and overseas markets.
Quality Parameters
- They maintain a strong technical force and experienced engineers
- In order to meet the client's best needs, all of their operations are strictly performed in line with the principle of “100% customer satisfaction, 100% of products up to grade.
- Offering series with consistent first rate quality standards, competitive prices and comprehensive services, they offer both potential and long standing clients a complete supply solution.
Their Services
Their pursuit of first rate quality and comprehensive after sales services offer both potential and long standing client confidence in their company. They offer:
- Printed Circuit Board Design
- Fabrication & Assembly
- CAD/CAM
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.44.27 |
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UK Pound |
1 |
Rs.85.54 |
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Euro |
1 |
Rs.58.23 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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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 |
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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45 |
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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