MIRA INFORM REPORT

 

 

Report Date :

14.11.2007

 

IDENTIFICATION DETAILS

 

Name :

SUBHASH MACHINE TOOLS

 

 

Registered Office :

E-52/53, Focal Point, Mandi Gobindgarh – 147301, Punjab

 

 

Country :

India

 

 

Date of Incorporation :

2007

 

 

Legal Form :

Sole Proprietory Concern

 

 

Line of Business :

Manufacturer, Trader and exporter of Bearing choks, couplings, automatic rolling mills parts, etc.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

 

Maximum Credit Limit :

USD 10000

 

 

Status :

New Company

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

Comments :

Subject is just a 2 months old concern and yet to established itself. Subject expects to register sizeable business during the first year of its operations. No further details or payment could be made available.

 

The concern can be considered for small to mediocre business dealings on safe and secured trade terms initially.

 

 

LOCATIONS

 

Registered Office :

E-52/53, Focal Point, Mandi Gobindgarh – 147301, Punjab, India

Tel. No.:

91-1765-256444

Mobile No.:

91-99815958744

Fax No.:

91-1765-256444

E-Mail :

Lotey4i@yahoo.co.in

Area :

1000 sq. ft.

Location :

Owned

 

 

 

 

SOLE PROPRIETOR

 

Name :

Mr. Subhas Kaur

Designation :

Proprietor

Qualification :

Matric

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer, Trader and exporter of Bearing choks, couplings, automatic rolling mills parts, etc.

 

 

Products :
  • Automatic Rolling Mills Parts
  • Bearing Chokes
  • Universal Couplings
  • Roller Guide Boxes
  • Complete Rolling Mill Parts
  • Shearing Machines
  • C.I. Stands
  • Streighting Machines
  • Spendals
  • C.I. Foundries on Rails.

 

Exports :

 

Countries :

Negotiating

 

 

Terms :

 

Selling :

L/C, Cash and Credits

 

 

Purchasing :

L/C, Cash and Credit (60 days) Sight

 

 

 

GENERAL INFORMATION

 

Customers :
  • Local Customers
  • End User

 

 

No. of Employees :

18 (3 – Office, 15 – Factory)

 

 

Bankers :

Allahabad Bank, Mandi Gobindgarh

 

 

Facilities :

Rs.0.500 Millions

 

 

 

Banking Relations :

-

 

 

Associates/Subsidiaries :
  • R. K. Machine Tools, Mandi Gobindgarh
  • Mohindra Nails Ind., Mandi Gobindgarh
  • Satyam Forgings Private Limited, Mandi Gobindgarh

 

 

CAPITAL STRUCTURE

 

 

Capital Investment :

 

Owned :

Rs.2.500 Millions

Borrowed :

-

Total :

Rs.2.500 Millions

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

 

 

Sales Turnover (Expected)(2007-08)

 

9.000

 

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

 

Trade References:

 

 



Web site details:

A well equipped tool room is mandatory for the smooth and efficient running of a manufacturing unit. In an endeavour to deliver the global business community with superior and durable machine tools at most reasonable prices, Subject was incorporated in the year 2006. The business house has earned the reputation of a distinguished manufacturer and exporter in a very short span of time by delivering excellent quality automatic rolling mill parts, bearing chokes, universal couplings, roller guide boxes, complete rolling mills parts, shearing machines, etc. All their products are designed after thoroughly accessing the needs of various sectors in accordance with the internationally accepted norms and standards.


They are committed to deliver the best, thus leaving no room for consumer grievances. Their strict commitment towards product innovation and client satisfaction has helped them earn a huge clientele, spread at every corner of the globe. The concern is keenly administered by sound management ethics at every stage of its operation, in order to ensure the production of only top notch quality products.

 

Their Sister Concerns


Subject is supported by its sister concerns to execute all tasks efficiently and smoothly. The following are their sister concerns:

 

 

Product Range


Working with the motto of offering high quality products at most economical prices, Subject has established itself as a prominent manufacturer and exporter of the following products:

 

 

Quality Assurance

 

They are an extremely quality conscious concern. Subject adheres to a strict quality management system, that comprises of several inspection procedures to ensure flawless production. Their entire production process is supervised by a team of diligent quality inspectors who invalidate any possibility of quality degradation. Every item is tested for its hardness and strength before its final shipment. They are not only committed to provide the most solid tools, but also efficient after-sale service and customer support. All tools withstand heavy duty, are accurate, highly productive and provide dependable operations.

 

Infrastructure

They are well supported by an outstanding facility that facilitates them in fulfilling all their business objectives. Their facility is loaded with ultra modern machines and well trained professionals, to enable us to deliver most superb range of products at most affordable prices. The concern owns a huge storage facility and a wide distribution network of diligent dealers, which helps in ensuring smooth and efficient trafficking of goods to the market.

 

 

 

 

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.39.39

UK Pound

1

Rs.81.31

Euro

1

Rs.57.44

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

2

PAID-UP CAPITAL

1~10

2

OPERATING SCALE

1~10

-

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILIRY

1~10

-

--LIQUIDITY

1~10

2

--LEVERAGE

1~10

2

--RESERVES

1~10

1

--CREDIT LINES

1~10

1

--MARGINS

-5~5

-

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

13

 

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

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions