MIRA
INFORM REPORT
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Report Date : |
26.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
INSTA CONTROLS |
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Registered Office : |
Shed No. 1 & 2, G Block, Vishnu Malati Industrial
Estate, Shivane, Pune- 411023 |
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Country : |
INDIA |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1981 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEI04006C |
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PAN No.: [Permanent
Account No.] |
AAAFI9457P |
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Legal Form : |
Subject is a sole proprietory
Concern. |
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Line of Business : |
Manufacturer of Thermistor projection relays for over
temperature projection of electric motors
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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 3000 |
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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. Proprietor of the concern is reported as experienced, respectable and having satisfactory means of his own. His trade relations are reported as fair. 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 : |
Shed No. 1 & 2, G Block, Vishnu Malati Industrial
Estate, Shivane, Pune- 411023 |
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Tel. No.: |
91-20-25292112 / 25290059 |
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Fax No.: |
91-20-25292113 |
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E-Mail : |
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Website : |
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Area : |
3200 Sq. ft. |
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Location : |
Owned |
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PROPRIETOR
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Name : |
Mr. K. R. Karmarkar |
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Designation : |
Proprietor |
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Date of Birth/Age : |
57 Years |
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Qualification : |
Undergraduate |
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Experience : |
32 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Thermistor projection relays for over
temperature projection of electric motors
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Products : |
a] PTC Thermistors. |
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Exports : |
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Products : |
Thermistor Projection Relays |
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Countries : |
Germany, China And UK. |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
Korea |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
D/ A , Cash, Credit (30 – 60 Days) |
GENERAL
INFORMATION
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Suppliers : |
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Customers : |
End Users |
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No. of Employees : |
12 |
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Bankers : |
HDFC Bank, Kothrud , Pune |
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Facilities : |
The concern do not enjoy facility from it’s banker |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs.1.000 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 |
30.000 |
25.000 |
22.000 |
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Export Value |
40% |
401% |
40% |
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Expected Sales (2007-08) : Rs.40.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference :
1] Siemens Limited, Thane
2] Lankim Private Limited , Shirvad, Maharashtra
3] Bharat Bijlee Limited, Thane
Mr. K. R. Karmarkar established Insta Controls in June 1981,
on a small scale.
Initially Insta Controls manufactured Thermistor
Protection Relays and supplied these to Panel Manufacturers and end-users.
Thereafter Insta Controls started processing motor protection PTC Thermistors
and supplying to electric motor manufacturers in India and some European and
Asian Countries. Insta Controls has always
believed in giving its customers excellent quality products along with a prompt
and efficient service back up. This has helped Insta Controls in expanding its
client base over the years. In line with its tradition, it is Insta Controls
endeavor to serve its clients by providing better products combined with a very
good service in future. Considering
the requests of various customers and looking at the demand for overheat
protection for Single Phase Motors, Fractional horsepower motor(FHP),
Transformers and other equipment, Insta Controls entered into the field of
Thermal Switches (TOPs) in 1996.
Initially starting with a few customers for Thermal
Switches(TOPs), Insta Controls today supplies Thermal Switches(TOPs) to a large
number of customers. These switches are used in a wide range of applications in
Industrial and Domestic products.In the year 2000, Insta Controls expanded its
range of products by adding two more products viz. Resistance Temperature
Detectors (RTDs) and Bearing Temperature Detectors (BTDs). These products cater
to the temperature indication requirements in AC Motors & Generators and
Transformers of higher ratings.
Profile of
InstaControls
Insta Controls
is in the line of Temperature Protection and Indication and manufactures /
processes the following products;
a] PTC Thermistors.
b] Thermistor Protection Relays.
c] Thermal Switches (TOPs).
d] Resistance Temperature Detectors (RTDs).
e] Bearing Temperature Detectors (BTDs).
These
products are sold in India and also exported to countries like Germany, Italy,
United Kingdom, China, Indonesia etc.
To
expand its range of products in similar fields and cater to the needs of its
clients, Insta is interested in representing foreign Companies. Our strengths
are;
- Market Reach - All
major industrial centres in India through Company's Representatives
- Knowledge of all
applicable Commercial Laws & Rules
- Knowledge of all
applicable Customs Laws & Rules
- Knowledge of Indian
market psychology
- Knowledge of
applications of products
- Knowledge of
Competition
- Technical Capability
to effectively and conveniently deal with customers requirments
VALUE
ADDITION / SUB-CONTRACTING
Insta Controls can also undertake the Sub-contracting / Value Addition jobs of
products in the fields mentioned above. Insta is confident of manufacturing /
processing the products of topmost quality.
Insta
Controls has;
- Necessary infrastructure
to manufacture products as per international standards
- Skilled workforce
- Sound technical
back-up
- Necessary experience
During
the years 1996 – 1999 Insta has done value addition of PTC Thermistors
i.e. Lead soldering, Epoxy and Sleeving. In this period, the average exports of
PTC Thermistors were 50,000 nos. per month.
InstaControls
can also do the putting of Leads and Sleeve for Thermal Protectors (TOPs)
around 10,000 nos. per shift.
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.43.39 |
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UK Pound |
1 |
Rs.85.16 |
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Euro |
1 |
Rs.57.66 |
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
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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