MIRA
INFORM REPORT
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Report Date : |
23.05.2007 |
IDENTIFICATION DETAILS
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Name : |
MINI POWER SYSTEM |
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Registered Office : |
# 50, Dattatreya Nagar, BSK, 2nd Stage, Hosekerahalli, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2000 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of Perimeter, Security Electric Fence and Farm Fence. |
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 6000 |
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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. 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/Factory : |
# 50, Dattatreya Nagar, BSK, 2nd Stage, Hosekerahalli, |
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Tel. No.: |
91-80-26723381 |
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Mobile No.: |
91-9845127534 |
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E-Mail : |
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Website : |
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Area : |
800sq.fts |
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Location : |
Owned |
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Branches : |
Flat No.:001, Sri Sai Durga Apartments, Plot No. M/2, SBI Colony,
Kottanet, |
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Tel. No.: |
91-9866119500 |
SOLE PROPRIETOR
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Name : |
Mr. Vijay Kumar |
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Designation : |
Proprietor |
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Date of Birth/Age : |
40 Years |
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Experience : |
15 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Perimeter, Security Electric Fence and Farm Fence. |
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Products : |
Fencing System, Electric Fence, Solar Lighting |
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Imports : |
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Countries : |
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Terms : |
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Selling : |
Credit 30 days |
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Purchasing : |
Terms of Import and Local Purchase: Against Payments |
GENERAL INFORMATION
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Suppliers : |
¨
Balaji Electronics, ¨
Tata Wiron products, Pune / Kolkatta |
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Customers : |
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Karthuri Network, ¨
Hutti Gold Mines, Karnataka ¨
Rajesh Exports Limited, |
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No. of Employees : |
17 (15 Technical, 2 Other) |
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Bankers : |
Syndicate Bank, Gavipuram, |
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Facilities : |
About Rs.2.500 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Bhatt Chartered Accountants |
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Address : |
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Memberships : |
ISO 9001:2000 Company |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.1.500 millions |
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Borrowed : |
- |
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Total : |
Rs.1.500 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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26.000 |
22.500 |
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Profit/Loss for the year |
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Indicated around 8% to 10% |
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Import Value |
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Indicated around
10 to 12% of Turnover |
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LOCAL AGENCY FURTHER INFORMATION
Average Value Of Inventories at any given Time: Rs.1.500 millions
Company Details:
Subject is a Bangalore based company started
with manufacturing and marketing of Agriculture electric fence system and later
geared up to high security electric fence systems and accessories with a
qualifying experience of 10yrs. Subject is a pioneer in the field of electric
fencing and has an excellent track record bearing a testimony to the product
quality and professional service of our company, considering that security
electric fencing is a relatively new concept in India.
The Subject unit, engaged in manufacturing and distribution of critical fence
components to its dealers & distributors, has obtained ISO 9001- 2000
certification.
Subject assesses individual security requirements and helps in
developing an optimum custom designed system on a turnkey basis. Subject
systems can be incorporated into your existing security systems and they also
impart the necessary training for the maintenance & upkeep of the system.
Subject is fully geared to meet the challenging and changing security
needs of large and sensitive area. A fully trained Subject team will visit your
site, provide demonstrations, assess your requirements, and develop an optimum
system for you.
Subject is a leading manufacture of Electric fencing systems for animal
management and perimeter security. Electric fencing is emerging as one of the
best methods for protection of crops and property from domestic and wild animal
damages.
The fence
comprises of several strands of galvanized iron (GI) wires drawn along the
perimeter. A high voltage electrical pulse is transmitted through the wires.
Any animal/human being touching the wires gets a sharp, short, painful but safe
shock. The animals hesitate to come in contact with the fence and thus become a
psychological but active barrier and the animal/human being will not generally
attempt to negotiate the fence again.
Subject is committed to supplying a complete system of quality electric
fencing products and services to the farmer. Subject already supplies the
highest quality accessories such as insulators, fence reels, poliwires and
tapes, gate hardware and fence standards. They have a comprehensive range of
products which combine to build a flexible system that is effective for farmers
world wide
Wildlife damage
problems are as old as man. Crop raiding by herbivores like deer, rhinos,
elephants, boars, domestic animals etc. is a major problem for farmers. From
time immemorial, farm fencing has been evolved and used to protect the hard
earned crops of farmers in their fields. Many techniques like digging trenches,
ditches, hedges, stone piles, earth piles, boundary walls, barbed wire and
chain link fences are used to protect the farm. However, a few are sometimes
very costly and many do not serve the purpose of protecting the hard earned
crops.
Agriculture / Forestry:
Electric fence systems are specifically designed to keep out different
animals ranging from cattle to wild boar and even elephants. Subject has a
special fence design to keep even monkeys at bay to ensure that your crops,
trees and farms are completely protected from animal damage resulting in
increased yields.
Our electric fences have helped wildlife departments to control wild
animals straying out from the parks and damaging the farmer’s crop.
Subject is a leading manufacture of Electric fencing systems for animal
management and perimeter security. Electric fencing is emerging as one of the
best methods for protection of crops and property from domestic and wild animal
damages.
The fence
comprises of several strands of galvanized iron (GI) wires drawn along the
perimeter. A high voltage electrical pulse is transmitted through the wires.
Any animal/human being touching the wires gets a sharp, short, painful but safe
shock. The animals hesitate to come in contact with the fence and thus become a
psychological but active barrier and the animal/human being will not generally
attempt to negotiate the fence again.
Perimeter Security
Fence
Security
is a key issue for many industrial and commercial premises in today's world;
perimeter fencing for example is utilized very effectively to help with
security of warehouses, factories, schools, car parks etc, and electrified
fencing plays an important role in protecting military operations bases and
industrial plants, power stations and construction sites. They are a well
established manufacturer and supplier of security equipment of this kind with a
wealth of experience in servicing the industrial and commercial sectors.
Industrial: Security Electric Fence systems provide 100% protection against theft,
pilferage, arson, sabotage…. The fence systems can be designed to suit
individual security requirements and can also be integrated with other security
devices like sirens, flood lights etc., making it impenetrable.
Domestic: The Wall Top system for residential applications is sleek, aesthetic
and ideal for compounds, rooftops, farm houses and apartments.
Working principles
of electric power fencing system
Electric fencing is emerging as one of the best methods for protection of
crops and property from domestic and wild animal damages. The fence comprises
of several strands of galvanized iron (GI) wires drawn along the perimeter. A
high voltage electrical pulse is transmitted through the wires. Any
animal/human being touching the wires gets a sharp, short, painful but safe
shock. The animals hesitate to come in contact with the fence and thus become a
psychological but active barrier and the animal/human being will not generally
attempt to negotiate the fence again.
The electrical
impulse is generated by an energizer. The energizer produces high voltage
impulses of approximately 8 kv once in every 1.2 seconds. The impulse lasts for
approximately 300 millionths of a second and has a current of up to 10 mA. The
current supply is generally available from 12 V battery charged either by solar
power or from a general electric supply system.
Advantages of the
Electric Power Fencing over the conventional methods
Electric power fencing is easy to install
and installation cost is low.
It has a low maintenance cost.
The system has a very long life.
It can be designed to control the target
species.
It is portable and reliable.
Conforms to National & inter national
standards.
The system is eco-friendly.
The system is safe and effective. Control
is achieved by psychological
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.40.60 |
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1 |
Rs.80.65 |
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Euro |
1 |
Rs.54.55 |
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 |
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 |
NO |
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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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