MIRA
INFORM REPORT
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Report Date : |
30.05.2007 |
IDENTIFICATION DETAILS
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Name : |
RIGHT ENGINEERING |
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Registered Office : |
Old No. 29 B / 1, New No. 67 and 71, Bajanai Kovil Street,
Choolaimedu, Chennai – 600094 |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1998 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of High
/ Medium / Low Voltage Switchgears, Lighting Poles, junction Boxes, Cable
Trays, Heat Transfer Equipment / System, Heat Recovery Solar 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 80000 |
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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 : |
Old No. 29 B / 1, New No. 67 and 71, Bajanai Kovil Street, Choolaimedu,
Chennai – 600094 |
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Tel. No.: |
91-44-42648756 |
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Mobile No.: |
91-9884062190 / 9884062191 |
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Fax No.: |
91-44-43540887 |
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E-Mail : |
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Website : |
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Area : |
50000sq,fts |
SOLE PROPRIETOR
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Name : |
Mr. R. Mahesh |
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Designation : |
Proprietor |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of
High / Medium / Low Voltage Switchgears, Lighting Poles, junction
Boxes, Cable Trays, Heat Transfer Equipment / System, Heat Recovery Solar
Equipments |
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Exports : |
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Products : |
All Electrical Goods |
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Countries : |
Africa, Asia, Europe, |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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GENERAL INFORMATION
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No. of Employees : |
110 (10 Office, 100 Factory) |
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Bankers : |
State Bank of Choolaimedu, Chennai - 600094 |
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Banking
Relations : |
Satisfactory |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.20.000 millions |
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Borrowed : |
- |
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Total : |
Rs.20.000 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 |
70.000 |
60.000 |
50.000 |
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LOCAL AGENCY FURTHER INFORMATION
A note about their sisters concern
Right ware technologies
Subject offer IT Enable Services with the
state of the art infrastructure and highly experienced professional in Banking,
insurance, Finance and Telecom Domains.
The company has got the development centers
both in Chennai and
They adhere to the latest Project Management
Methodology thus providing their clients with consistent deliverables at the
stipulated time.
Their Business:
Software project:
ERP, CRM
Product and package
Banking Solution
Telecommunication
Back office and Tech Support
ESDF
ESDF is hybrid model combining software
development with the help of Outsourced personnel and Software development
carried out Off-site
Smart Card Solutions:
Access Control
Attendance Management
Electronic Wallet – E Cash
Loyalty Card
Club Card
Health Card
Theme Park as Fare Card and Entry Card
E – Governance
E – Transport
Application Development
Ready to install packages
Resources placement On
Technical Documentation
Implementation Support
Project Co-Ordination and Management
Multimedia
Corporate presentation and Movies
PC and
2D and 3D Animation
Medical Animation and Presentation
Interactive Multimedia – CBT
Architectural Design
Educational Documentary Films
IT Products
SMART CARD for Access control and Time and
Attendance
E-Cash as electronic wallet
SMS Solution to send and receive message from
our PC / Server
Library Management System
Project Management System
Information Management System
Content Management for Real Estate
Vehicle Tracking System
Pharmacy Software
Engineering Services
Custom software for engineering design
drawings – AutoCAD and Solid Works
Web Portal and Web Development
Consulting Services
Onsite Project
Offsite project
Offshoot projects
Company profile:
Right Engineering
is the one committed to provide Right Product to rightly suit your project
requirements.
Right Engineering is in the field of Manufacturing and Trading, serving locally
and globally since 1987.
A respective past, the perfect present and the prospective future taking them a
long way growing along with their clients.
They take this opportunity to introduce their company a highly professional in
their field of expertise.
Right Engineering Products supply to the
following industries:
◊ Power Station Industries /
Substation Products
◊ Effluent Treatment Plants
◊ Refinery
◊ Petrochemical Plants
◊ Gas Plants
◊ Oil & Gas Production Platforms
◊ Infrastructure Development Projects like Road ways, Airport
Projects, Camp
◊ Facilities, etc..
Their company does virtually everything in the
above-mentioned fields, and they professionally outsource anything else to suit
all your unique and very particular project needs.
Right Engineering Represent the following
products:
1.
MV/LV Electrical
Components – Merlin Gerin / ABB / Siemens / Telemecanique
2.
Relays – Omron
3.
Clip-on Terminals –
4.
Lighting Poles – Hand
Rail Poles / Swaged Tubular / Polygonal / Octagonal Poles
5.
Cable Glands – Explosionproof
/ Weatherproof
6.
Switches – Clipsal
They maintain a good amount of inventory of the
products they represent in order to serve their clients in most of the cases
off-the-shelf.
Their team act swiftly upon receipt of an enquiry,
carefully evaluate the scope and provide you a best suited solution backed by a
strong technical support thus providing a true needs of business.
Trading
of Electrical Accessories
They
deal with world class Electrical Accessories from renowned international
companies.
§
Merlin Gerin
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Telemecanique
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Clipsal
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General
Electric
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Siemens
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ABB
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Omron
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Trader in -
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Solar
Equipments
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Domestic Water
Heaters
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Lanterns
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Streetlight
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UPS
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.40.64 |
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1 |
Rs.80.44 |
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Euro |
1 |
Rs.54.65 |
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 |
YES |
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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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