MIRA
INFORM REPORT
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Report Date : |
01.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
VIJAY ENGINEERING COMPANY |
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Registered Office : |
144/1, G.I.D.C-1 Estate, Highway, Mehsana – 384002, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
16.11.1979 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMV01851D |
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Legal Form : |
Partnership concern with an unlimited liability of the partners |
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Line of Business : |
Manufacturer and Exporter of Road Construction Machinery |
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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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. It
has steady business. Trade relations are 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/ Factory : |
144/1, G.I.D.C-1 Estate, Highway, Mehsana – 384002, Gujarat, India |
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Tel. No.: |
91-2762-250522 |
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Mobile No.: |
91-9825018773 |
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Fax No.: |
91-2762-232543 |
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E-Mail : |
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Website : |
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Area : |
500 Sq. mts. |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Kumar K. Panchal |
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Designation : |
Partner |
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Date of Birth/Age : |
31Years |
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Qualification : |
Graduate |
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Experience : |
10Years |
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Name : |
Mrs. Mayaben K. Panchal |
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Designation : |
Partner |
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Date of Birth/Age : |
48 Years |
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Qualification : |
Under-Graduate |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Road Construction Machinery. |
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Product : |
Hydrostatic Sensor Pavers finisher, Asphalt pavers finisher Wet mix pavers
finisher, Semi Hydro pavers finisher bitumen pressure Distributors, Krebs
Laying machine, asphalt drum mix plant unto 120tph, wet mix plants unto
200tph |
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Terms : |
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Selling : |
Cash and Credit (30 to 60 days) |
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Purchasing : |
Cash and Cheque |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
45 |
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Bankers : |
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Facilities : |
C/C and Hypothecation of Rs. 0.700 Million From Ranuj Nagrik Sahakari
Co-op Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Ashwin K. Yagnik and Company Chartered Accountants. |
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Tel. No.: |
91-2762-253598 |
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Mobile No.: |
91-9825309598 |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Available |
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Borrowed : |
Not Available |
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Total : |
Not Available |
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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15.000 |
10.000 |
Expected Sales (2007-08) : around
Rs.25.000 Million
LOCAL AGENCY
FURTHER INFORMATION
Trade reference
- KCC Constructions India Limited Noida
- H.H. Chouhan,
Ratnagiri (Chiplun)
As Per Website
Profile
For 10 years they have retained their leadership by offering state of the art
construction equipment developed through in-house R and D and strategic technology
tie ups. From a modest beginning in the year 1990 Subject today offers the
entire range of road construction equipment that help in building roads which
are safe, durable and economical. Subject’s mission is to retain the leadership
through continuous R and D and world class technology availed through JV/
technology transfers.
Subject is committed to offer equipment best suited to meet the rising demands
of the nation’s world wide, meeting the quality standards technological
sophistication and environment norms.
They believe that customer satisfaction is achieved through quality of products
and services, continuous improvement and up gradation of people process and
procedure.
Subject has invested heavily in
modern infrastructure, R & D and quality manpower that result in a product
quality that more than meets the exacting quality standards of customers,
international consultants and decision makers in Governments.
Subject as a group has diversified into Road building, Electronics, Software
development, Industrial Finance and Environment protection.
Around 10+ years back Asphalt plants from APOLLO witnessed
world wide popularity, soon after its technical collaboration with Barber
Greene USA. With over a 1000+ installation globally, MORIS plants today
incorporate the world best technical solution offering the highest uptime,
reliability and profitability – truly proving itself as a value for money
product.
With the company's dedicated R & D, support from
European Design firms and a commitment to meet customers exacting tailor made
requirements, the company today boasts of proven world class technology to
match any
given operating conditions and customer desires.
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.39.32 |
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UK Pound |
1 |
Rs.81.82 |
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Euro |
1 |
Rs.56.90 |
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 |
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. |
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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