MIRA
INFORM REPORT
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Report Date : |
12.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
FINE TECH TOOLINGS |
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Registered Office : |
Plot No.-V-16, IV Main Peenya Indl. Estate, 2 nd Stage,
Bangalore-560058, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1995 |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturers of CNC machine components die and mould machining with
CAD/CAD facility and also Exporters. |
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 20,000 |
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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. Partners are
experienced and respectable businessmen. Trade relations are fair. Business
is active. Payments are reported as 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: |
Plot No.-V-16, IV Main Peenya Indl. Estate, 2 nd Stage,
Bangalore-560058, Karnataka, India |
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Tel. No.: |
91-80-28362300/41170507/508 |
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Fax No.: |
91-80-28363534 |
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E-Mail : |
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Area : |
10,000 sq.ft. |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Manjunath Shastry |
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Designation : |
Partner |
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Date of Birth/Age : |
45 years |
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Qualification : |
Diploma in Toolings and Design |
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Experience : |
24 years |
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Mobile: |
91-9845108453 |
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Name: |
Mrs. Anuradha Manjunath Shastry |
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Designation : |
Partner |
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Date of Birth/Age : |
38 years |
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Qualification : |
Graduate |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of CNC machine components die and mould machining with
CAD/CAD facility and also Exporters. |
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Products : |
·
High Precision Components (Ferrous and Non-Ferrous Materials) ·
Dies and Mold Parts(Up to 55RC) ·
Core Cavities for molds ·
Electrodes ·
Aluminium Parts |
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Exports : |
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Countries : |
Japan |
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Imports : |
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Countries : |
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Terms : |
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Selling : |
L/C Sight (60 days) |
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Purchasing : |
L/C (30-60 days) |
GENERAL
INFORMATION
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Suppliers : |
Laxmi Profiles (India) Dinesh Alloys (India) |
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Customers : |
Bharat Earth Movers Limited (India) Mitsubishi (Japan) |
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No. of Employees : |
30 (Offoce-25, Others-5) |
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Bankers : |
State Bank of India, Peenya,(Bangalore-58) |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
M/s. Sudhakar Pai Chartered Accountants |
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Address : |
Bangalore |
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Memberships : |
Peenya Industries Association |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.5.000 Millions |
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Borrowed : |
- |
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Total : |
Rs.5.000 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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28.000 |
24.000 |
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Profit/Loss for the year |
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10 to 20% |
- |
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Export Value |
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20.000 |
18.000 |
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Import Value |
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5.000 |
0.000 |
Average Values inventories at any given time: Rs.0.500 Million
LOCAL AGENCY
FURTHER INFORMATION
FINE TECH TOOLINGS
An ISO 9001:2000 certified company catering to the needs of diverse
sectors with its premium quality High Precision Components and related
products..
Subject established in the year 1995 has evolved as a top class concern of high
precision components and related products providing services and solutions to
the most reputed organizations in India as well as abroad. The vast expertise
and excellent quality range has made them a name to reckon with, in the
industry. They are one of the most reputed and established manufacturers and
exporters of superior quality High Precision Components, Dies and Mold Parts,
Aluminum Parts, etc. Our ISO 9001:2000 certified concern is also a
distinguished service provider as they undertake CNC machining of complicated
dies and mold parts.
Total customer satisfaction- both in terms of quality as well as personalized
attention; understanding and developing innovative, cost effective techniques
for customer benefits has been the base of our foundation since our inception.
Along the way, they have implemented state-of-the-art machining technology
methods ensuring high quality and consistency. Their constant strife for
superior customer service and stringent scheduling of delivery they have
resulted into an unmatched customer satisfaction. In a considerable span of
time, the concern has secured a distinct place in the national as well as
international market. They have a large customer base spread across the globe.
Product Range
Subject is an eminent manufacturer and exporter of a wide
range of products, which is as follows:-
- High Precision
Components (Ferrous and Non-Ferrous Materials)
- Dies and Mold
Parts (Up to 55RC)
- Core Cavities
for molds
- Electrodes
- Aluminium
Parts.
They also provide services for CNC machining of complicated
dies and mold parts.
Quality Assurance
They, follow stringent quality control regulations at our
factory premises. Their quality personnel makes sure that each product
manufactured at their unit meets the international standards. Committed to give
the best to their clients, their entire product range undergoes a full
inspection program. They procure high quality copper, aluminum, etc. from
reputed suppliers. The vigilant quality inspectors employed at their unit
maintain a close check on the products throughout the manufacturing process,
ensuring flawless products. They have been ISO 9001:2000 certified by TUV for
our high quality products.
Infrastructure
They, have visualized their growth with the presence of a
modern infrastructure, comprising of dedicated and qualified workforce along with
hi-tech manufacturing and other process machinery. Their production unit is
equipped with advanced machines and equipment such as High Precision Machining
centers from MAKINO, HITACHI, SEIKI, JAPAN. Team comprises of qualified
engineers with experience in their respective field of machining designing,
development and CAD CAM programming.
They also have very good inspection facility like CMM from TESA,
Switzerland TRIMOS HEIGHT MASTER to ensure quality of product at
different stage of manufacturing.
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 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.39.34 |
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UK Pound |
1 |
Rs.82.66 |
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Euro |
1 |
Rs.57.57 |
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 |
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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