MIRA
INFORM REPORT
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Report Date : |
23.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
SHREE SIDDAGANGA CONTROLS |
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Registered Office : |
No. 2 / 3, 10th Cross, Caveri NAgar, K.C. Hally Main Road, Near
Silicon City School, Bommanahally , Bangalore – 560068, Karnataka |
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Country : |
INDIA |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1999 |
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Legal Form : |
Sole Proprietorship Concern |
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Line of Business : |
Manufacturer of Cable Trays, Wire Ways, Junction Boxes, Various Wire
Management , Fornication, and Electrical Control Panel Boards. |
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 20000 |
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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. Trade
relation are fair. General financial position is satisfactory. Payments are correct
and as per the commitments. The concern can be considered normal for business
dealing at usual trade terms and conditions |
LOCATIONS
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Registered Office : |
No. 2 / 3, 10th Cross, Caveri NAgar, K.C. Hally Main Road, Near
Silicon City School, Bommanahally , Bangalore – 560068, Karnataka |
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Tel. No.: |
91-80-65365583 / 84/ 85 |
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Fax No.: |
91-80-26725930 |
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E-Mail : |
Siddaganga_2000@yahoo.com |
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Area : |
11000 Sq.ft. |
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Location : |
Rented |
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PROPRIETOR
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Name : |
Mr. H. S. Shivkumar |
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Designation : |
Proprietor / CEO |
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Date of Birth/Age : |
39 Years |
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Qualification : |
BE. (Electricals ) |
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Experience : |
15 Years |
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BUSINESS DETAILS
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Line of Business : |
Manufacturer of cable Trays, Wire ways, Junction Boxes, Various Wire
Management , Fornication, and Electrical Control Panel Boards. |
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Products : |
Cable Trays, Ways , Perforated Cables Trays, Ladder Type |
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Exports : |
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Products : |
Cable Trays, Hot – DIP Galvanises Cable Tray to |
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Countries : |
Mauritius |
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Terms : |
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Selling : |
L / C Terms on Cash or Credit
(30 Days ) |
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Purchasing : |
Cash or Credit (30 Days) |
GENERAL
INFORMATION
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Customers : |
OEM’s Sofmare Giants like Infosys, Wipro etc. |
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No. of Employees : |
About 15 |
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Bankers : |
ICICI Bank Branch Kamarapank, Bangalore |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Hafeez and Company Chartered Accountant |
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Address : |
Bangalore |
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Associates : |
1] Perfect Colors & Coats, Bangalore Started in 2006 Business : Powder Coating |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.6.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs.6.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
27.000 |
25.000 |
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Expected Sales (2007 – 08 ) Rs. 35.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference :
1] Infosys Group
2] Sobha Developers
3] Rajendra Group
4] Many Real Estate Developers
Website Attach :
Company Profile :
Incorporated in the year 1999, Concern Company
Shree Siddaganga Controls is a leading manufacturer and exporter engaged
in the production of premium quality Control Panel Boards, Cable Trays Wire
Ways, Perforated Cable Trays, Ladder Type Cable Trays, Hot-dip Galvanised Cable
Tray with cover, junction Boxes, Bus Ducts, Electrical Panel etc. concern
vast experience has provided us the skills and knowledge of the field. With
highly economical production procedures, concern have managed to keep their
prices reasonable. As a result , we have developed wide business network in
their country as well we across the globe
Products Range
- Stand in 2006
- Electrical
Control Panel Boards
- Cable Trays
- Wire Ways
- Perforated
Cable Trays
- Ladder Type
Cable Trays
- Hot-dip
Galvanised Tray with Cover
- Junction
Boxes
- Bus Ducts
- Electrical
Panel
Lineaments
Being one of the leading and reputed
manufacturers and exporters of Electrical Control Panel Boards, Cable Trays
Wire Ways, Perforated Cable Trays, Ladder Type Cable Trays, Hot-dip Galvanised
Cable Tray with cover, junction Boxes, Bus Ducts, Electrical Panels from
India, we give stress on exploring new ideas and attempting breakthrough
products and processes. Our aim is to provide the most effective business
solutions in terms of competitive prices for various production, including
quality, delivery and services. This combination helps us in serving the
requirements of our clients.
Strategy
To reach our customer and to stay in touch with
them, we have established business associates all round the globe to provide
effective solutions to their every needs. The entire products range - -Control
Panel Boards, Cable Trays, Wire Ways, Perforated Cable Trays, Ladder Type Cable
Trays, Hot –dip Galvanised Cable Tray with Cover, junction Boxes, Bus Ducts,
Electrical Panel – is manufactured Keeping in view the international norms of
quality.
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.43.66 |
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UK Pound |
1 |
Rs.85.91 |
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Euro |
1 |
Rs.58.44 |
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 |
NO |
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--AFFILIATION |
YES/NO |
YES |
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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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