MIRA
INFORM REPORT
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Report Date : |
17.05.2007 |
IDENTIFICATION DETAILS
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Name : |
B.S. ENGINEERING WORKS |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1982 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer, Exporter and Trader of Steel Rolling Mill 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 28000 |
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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. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office/Factory : |
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Tel. No.: |
91-131-2622604 |
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Mobile No.: |
91-9837058804 |
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Fax No.: |
91-131-2623404 |
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E-Mail : |
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Area : |
3000sq.mtrs. |
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Location : |
Owned |
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SOLE PROPRIETOR
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Name : |
Mr. Surinder Singh |
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Designation : |
Proprietor |
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Date of Birth/Age : |
28 Years |
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Qualification : |
Graduate |
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Experience : |
5 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Trader of Steel Rolling Mill Equipments. |
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Products : |
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Exports : |
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Products : |
Steel Rolling Project |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash, Credit |
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Purchasing : |
L/C, Cash, Credit, Sight |
GENERAL INFORMATION
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Customers : |
Local Customers, End Users |
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No. of Employees : |
53 (6 Factory, 47 Factory) |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Kumar and Associates Chartered Accountants. |
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Address : |
Muzaffarnagar |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 7.000 millions |
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Borrowed : |
- |
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Total : |
Rs. 7.000 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
60.000 |
58.900 |
58.300 |
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Profit/Loss for the year |
3.350 |
3.265 |
3.200 |
LOCAL AGENCY FURTHER INFORMATION
Ever maintaining the customer satisfaction as their utmost concern,
they, have come a long way since 1983 and established themselves as one of the
most prominent brands in the industry. At present, they are a leading manufacturer, exporter and supplier of a wide range of
products which include Gear Boxes,
Pinion Boxes, Flexible Gear Couplings, Universal Couplings, Mill Stands,
Furnace Equipments, etc. Giving an importance to export quality
products, they always endeavor to provide their clients the best products in
the industry. This dedication combined with their brilliant technical expertise
has earned us peerless success in the domestic level as well as international
market, making us a globally recognized brand. They believe in perfection and
try to achieve it by their innovative technologies. In addition, they try to
understand your exact requirements through
constant improvement in the management system and innovating new
marketing techniques to provide you with quality products. They specialize in
designing complete automatic steel plants as per customers' specifications and
requirements.
They also provide
highly reliable solutions for steeling rolling mills and can undertake at any
time-
- New rolling mill projects on turnkey
basis
- Modernization of an existing mill
- Enhancement in production
capability.
They design and manufacture
the following types of steel rolling mills on turnkey basis-
- Wire Rod Plants
- Bar Plants
- Girder Plants
- Flat Plants
- Channel Plants
- Angle Plants.
They have made
successful efforts in offering qualitative performance by means of standardized
machinery as well as special solutions meeting the individual requirements of
their customers.
Their Specialties
- Wire rod and bar mills for manufacturing 6mm to 40mm
C.T.D./T.M.T. bars and plain rods having maximum production of 40 tonnes
per hour
- Section mills for manufacturing angles, channels,
girders, flat, heavy rounds, T-iron, etc.
Their Quality
Offering quality products beyond your expectations, they are marching towards
their goal to be a leading manufacturer in their field. The single reason
behind their success in this field is their strict adherence to quality. They
believe that it is the ladder to win success and the key to achieve customer
satisfaction. They have a dedicated team of quality checking personnel under
whose strict observance, the whole manufacturing process is being operated.
This ensures the finest quality of the finished products.
Their
Infrastructure
They consider their strong infrastructure as the most valuable asset which helps
us to be stable and serve you with the best products in the industry. Their
company has a highly sophisticated manufacturing unit that enables an in-house
production of all their products. It also assures cost minimization and
efficient delivery of products.
Their
manufacturing programme reaches from 180mm to 610mm P.C.D. with fully
automatic, semi-automatic as well as manual configuration, having maximum
production of 300 tonnes per 8 hours of shift
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.40.84 |
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1 |
Rs.81.73 |
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Euro |
1 |
Rs.55.23 |
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 |
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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46 |
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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