MIRA
INFORM REPORT
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Report Date : |
19.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
STANFORD FASTENERS |
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Registered Office : |
202, Anand Industrial Estate, Opp. Arvind Mill, Naroda Road, Ahmedabad
– 380 025, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.10.2007 |
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Date of Incorporation : |
2006 |
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Legal Form : |
Partnership Concern with an unlimited liability of partners |
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Line of Business : |
Manufacturers and Exporters of Stainless steel Fasteners, Nut and
Bolts |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 40000 |
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Status : |
New Concern |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a new concern and in the process of establishing itself.
The concern has recorded small business during the initial period of its operations.
Payments are reported as slow but correct. The concern can be considered for small to mediocre business dealings
with slight caution, initially. |
LOCATIONS
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Registered Office : |
202, Anand Industrial Estate, Opp. Arvind Mill, Naroda Road, Ahmedabad
– 380 025, Gujarat, India |
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Tel. No.: |
91-79-22200146 |
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Mobile No.: |
91-9377433322/ 9327410505 |
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Fax No.: |
91-79-22200146 |
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E-Mail : |
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Website : |
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Area : |
2800 sq. ft. |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Shirish Patel |
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Designation : |
Partner |
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Date of Birth/Age : |
29 years |
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Qualification : |
Mech. Engineer |
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Name : |
Mr. Tarun Solanki |
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Designation : |
Partner |
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Date of Birth/Age : |
29 years |
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Qualification : |
B.Com. |
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Name : |
Mr. Baldev Luhar |
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Designation : |
Partner |
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Address : |
( USA) |
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Date of Birth/Age : |
40 years |
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Qualification : |
M.Tech. |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Stainless steel Fasteners, Nut and
Bolts |
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Products : |
v Stainless Steel Fasteners v Stainless Steel Hex Screws & Bolts v Stainless Steel Hex Nuts v Nylock Nuts v Machine Screws v Slotted Cheese Head Screws v Slotted Countersunk Screws v Phillips Pan Head & Flat Machine Screws v Socket Head / Allen Cap Screws v Stainless Steel Wire Rods. |
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Exports : |
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Products : |
All Products |
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Countries : |
v Egypt v USA v Saudi Arabia |
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Imports : |
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Products : |
Steel Wire Rods/ Tools |
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Countries : |
v Australia v USA |
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Terms : |
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Selling : |
Cash or Credit, T/T ( 50% Advance and 50% on shipment ) |
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Purchasing : |
Cash, T/T |
GENERAL
INFORMATION
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Customers : |
Wholesaler, OEM’s and Manufacturers |
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No. of Employees : |
30 |
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Bankers : |
Citi Bank, Ahmedabad Branch, Gujarat, India |
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Banking
Relations : |
- |
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Auditors : |
Not Appointed |
CAPITAL STRUCTURE
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Capital Investment : |
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Total : |
Around Rs. 10.000 Millions ( Including Owned and Borrowed ) |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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End 2006 to
October 2007 |
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Sales Turnover |
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1.100 |
Expected Sales (2007-08) : Rs. 3.500 Millions
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
v
Arvind Pumps Private Limited
v
Tek Component Limited
Profile:
Established by Shri Shirish Patel and Tarun Solanki in 2006 at Ahmedabad, they have
grown at a tremendous rate as one of the reputed manufacturers and exporters of
a wide range of fasteners like as nuts, screws and bolts. Expanding their
horizons they are also a reliable stockiest, wholesaler and retailers of their
range of products.
Renowned for premium quality, fine finish, durability and technical
superiority, their products are widely used by their clients in different
industries. Their full range includes: stainless steel fasteners, stainless
steel bolts, stainless steel nuts, stainless steel screws.
Meeting the demands of various industries, they have grown in leaps and bounds
and today have money exchange of Rs. 1, 13, 18,628 for the year 2006-2007.
Through their unmatched range and exemplary services, they have also fetched the
membership of Ahmedabad Fasteners Association in a very short span of time.
Their Mission
Team Work is considered as the key ingredient in “Stanford Attitude” that is every operation and every step taken by them are streamlined towards the growth and success of the customer together with the shared pride in the quality of their work as well as the finished product.
Their Products
Amounting to their superior attributes, their products find their application in various industries. Manufactured from superior quality stainless steel. Their products come with the following features:
v Anti corrosion
v Abrasion resistance
v Weather resistance
v Temperature resistant
v High tensile strength
v Impact resistant
v Durable
Assuring their clients of better results, their products have been tried and
tested by their quality controllers at their state-of-the-art manufacturing
unit. Their product range comprises of :
v Stainless steel fasteners
v Stainless steel bolts
v Stainless steel nuts
v Stainless steel HRAP wire rods
Their Services
Besides offering a wide range of products, they have also rendered their services to their clients in different industries. Progressing at a fast pace, they are expanding their horizons with the help of their technical staff and their immense knowledge. Through continuous research process, they have come up with various new products in the market. Their technical support services include:
v Product analysis
v Inspection and testing of raw materials
v Trial orders and more.
Industries Served:
Designed to perfection, their range of products are widely appreciated and demanded by their clients in the different industries like:
v Process control equipment industry
v Hydraulic & pneumatic applications
v Chemicals & petrochemicals
v Automobile.
v Cement Industry
v Aerospace
Their Manufacturing
Facilities:
Growing their business on the global platform, they are well supported with a robust infrastructure. Their manufacturing unit has all the requisite facilities that enable them to match the international standards and deliver the bulk orders in the least lead time. Backed by their tools and machines, we have been supplying a wide range of stainless steel fasteners like hex bolts, hex nuts that are superior in quality and long lasting.
Quality:
Quality has been an indivisible part of their operations. In order to offer their clients of superior quality products, they have followed a well defined quality management system. Procuring the raw materials from reliable vendors, they ensure that they are first rigorously tested before being forwarded to the manufacturing process. Random quality checks have enabled them maintain the quality standards and to put forth a flawless range of fasteners. Once the finished products are ready, they are tested by them on various parameters before being sent into the market. The parameters on which they are tested are :
v Efficiency
v Rust free
v Abrasion resistance
v Weather resistance
v Temperature resistant
v High tensile strength
v Impact resistant
v Durable
Their Manpower:
They have a strong team of business oriented and diligent professionals who form the backbone of their company. They possess a fully competent team of production and quality control personnel's who have left no stones unturned to deliver the best products in the industry and to meet the clients demands.
Their engineers and technical workers are well conversant with the different
tools and machines. Utilizing their expertise and experience, they have
designed and developed fasteners that are efficient in operation and require
minimum maintenance. They are also competent and capable of fabricating
products exactly as per the clients' requirements.
Clients:
With their customer centric approach and transparent deals, they have been catering to a wide client base in the global arena. Through their constant research and development process, they have come up with high performing and innovative products that assure their clients of better results. Strictly adhering to the international standards, they have met the demands of their clients in the national as well as international arena. For the convenience of their clients, we accept payment through the different modes like cheque, demand draft, LC.
MISSION STATEMENT:
Team Work is the key ingredient in the “STANFORD ATTITUDE” which is everyone working for a common goal – the success of the customer – plus a shared pride in the quality of their work and the end product.
Their Philosophy:
v Innovative thinking.
v Improving upon existing standard of excellence.
v Acquiring close insight into customer’s requirements.
v Continuous facility upgradation.
v Doing everything right the first time.
v Established in year 2006.
v Engaged in Manufacture and export of various types primarily specialty fasteners.
v Comprehensive in house facility to produce international quality fasteners.
v Managed by technocrats with extensive experience in the field of fasteners.
v Second line management comprise of technically qualified and quality conscious supervisors, supported by highly skilled workforce.
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. 39.35 |
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UK Pound |
1 |
Rs. 80.52 |
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Euro |
1 |
Rs. 57.56 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
1 |
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--CREDIT LINES |
1~10 |
1 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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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16 |
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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