MIRA
INFORM REPORT
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Report Date : |
20.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
COMP ENGINEERING AND EXPORTS |
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Registered Office : |
3025/8, Shreenidhi Chambers, S.Bapat Road, Pune-411 016 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1991 |
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Legal Form : |
Partnership concern with an unlimited liability of the partner |
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Line of Business : |
Manufacturer of Dryers, Fluid Bed, Spray and Rotary offers custom
Designed Process Equipments with Specialization in the field of heat and mass
transfer equipments. |
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 125000 |
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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 records. Trade relations are fair. Payments are Usually correct and as
per commitments. The concern is doing well. It can be considered good for normal business dealings at usual trade
terms and conditions. |
LOCATIONS
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Registered Office : |
3025/8, Shreenidhi Chambers, S.Bapat Road, Pune-411 016,India |
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Tel. No.: |
91-20 25658203 / 25658205 / 25658206 |
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Fax No.: |
91-20 25658204 |
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E-Mail : |
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Website : |
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Area : |
600 Sq. ft by Group |
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Location : |
Owned |
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Factory 1 : |
Survey No: 282/2, Plot No:17, village Mann Ta.Mulshi, Pune |
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Area : |
2 Acres Land |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Madhu Sudan Gupta |
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Designation : |
Partner |
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Date of Birth/Age : |
52 Years |
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Qualification : |
Chemical Engg. |
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Experience : |
30 Years |
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Name : |
Mr. B.B Pai |
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Name : |
Mr. D.W. Ke |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Dryers, Fluid Bed, Spray and Rotary offers custom
Designed Process Equipments with Specialization in the field of heat and mass
transfer equipments |
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Exports : |
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Products : |
Custom Designed Process Equipments |
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Countries : |
U.K, Russia, Turkey and Arulia |
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Imports : |
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Products : |
Small Components |
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Countries : |
Europe and Japan |
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Terms : |
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Selling : |
Contract |
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Purchasing : |
Cash and Credit of 30 days |
GENERAL
INFORMATION
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No. of Employees : |
Total :30 |
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Bankers : |
Canara Bank M.G., Road, Pune |
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Facilities : |
Term Loan Rs.1.500 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
A . Kochhar Associates |
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Associates/Subsidiaries : |
Mojj Engineering System Limited Pune Line of Business: Dameric fabrications Business Indus Fabricans Private Limited Pune Line of Business: Domeric Fabrication |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.30.000 Millions |
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Borrowed : |
Rs.2.300 Millions |
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Total : |
Rs.32.300 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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80.000 |
150.000 |
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Profit/Loss for the year |
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NA |
NA |
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Export Value |
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80.000 |
150.000 |
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Import Value |
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8.000 |
6.000 |
Expected Sales (2007-08) : Rs.150.000 Millions
Group Turnover: Rs.2.500 Millions
LOCAL AGENCY
FURTHER INFORMATION
Mission
They believe and recognize the
basic fact that each Customer has his own specific and not so specific needs to
be catered to, requirements to be met and problems to be solved. They therefore
strive in giving their services suited to these specific and peculiar needs of
their customer. This calls for understanding these needs and transferring them
into an engineering solution. No aspect of a plant is too minor to be ignored
and no process requirement too complex to be met.
Mojj Engineering Systems Ltd. and
Comp Engineering And Exports are Design and Project Engineering Companies
offering custom designed process equipment with specialisation in the field of
heat and mass transfer equipment.
Mojj Engineering Systems Ltd. is catering to the Indian customers while Comp
Engineering And Exports is servicing the international overseas customers. Indus Fabricons Pvt.Ltd. is a fabrication
unit carrying out fabrication, machining, assembly, testing and other
manufacturing activities for the Group Companies as well as other customers.
STRUCTURE
Each of the group Company is managed by a Board of Directors, supported by
departmental heads for Marketing, Design & Engineering, Project Planning
& Purchase, Manufacturing , Vendor Development & Quality Control, Site
Engineering and Customer Services.
DESIGN AND ENGINEERING
This section is manned by
qualified engineers specialising in the fields of Chemical, Biotechnology,
Mechanical, Production, Electrical & Instrumentation engineering.
This section has separate cells
for Process Design, Detailed Engineering, Estimation and Procurement. The
equipment designs and layout are prepared using computerised design and drawing
aids.
For new products and application, studies are carried out in the in-house
application laboratory. Pilot plant facility are installed for a Spray Dryer,
Fluid Bed Dryer, Agitated Flash Dryer andanalytical apparatus. New Pilot plant
facilities are being put for evaporation and incineration trials and studies.
PROJECT PLANNING
A dedicated team is assigned for
every project to ensure all customised aspects are attended to. The project
planning group looks after all stages of job implementation and offer support
to the customer wherever required.
MANUFACTURING
Manufacturing facilities have been set up for two specialised activities,
namely Critical Tolerance Rotary Equipment and High Quality Fabrication.
The factories have full fledged facilities for manufacturing of Stainless Steel
equipment's to International quality norms and under external third party
inspection if so desired by the customer. They also use the facilities of their
associates if required for any other specilaised job.
QUALITY ASSURANCE
All manufacturing activities are
carried out as per strict quality assurance plan with stagewise and final
inspection before shipment. In order to maintain strict quality, they have
their own quality control engineers conversant with inspection norms and
international codes.
MARKETING
The company has sales representative at Delhi, Madras and Hyderabad. These are
qualified engineers and well versed in the areas the company operates in. They
also co-ordinate after sales service when required by the customer. All
overseas marketing activities are co-ordinated from the head office in Pune.
SITE ENGINEERING SERVICES
A team specialised in supervising
the site engineering activities is deputed for erection and commissioning
activities. This team has technician experienced in the field of mechanical
erection, piping, electrical, instrumentation and controls.
CUSTOMER SERVICE
The group has an after sales
service department with qualified well experienced technical staff who ensure
that the servicing need of the customer are met.
Total
Services for Turnkey Solutions:
Feasibility & Pilot Plant
Studies Process Design /
Detailed Engineering
Project Management Procurement and
Manufacture
Quality Control / Expediting Field Supervision of
Installation
Start-up / Performance Testing Operator Training
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.43.98 |
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UK Pound |
1 |
Rs.85.59 |
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Euro |
1 |
Rs.58.49 |
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 |
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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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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