MIRA
INFORM REPORT
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Report Date : |
22.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
SUN CASTINGS |
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Registered Office : |
No.41, J C industrial Estate, Near Delhi Public School, Yelachanahalli,
Kanakapura Road, Bangalore – 560 062, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2003 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRS19371C |
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PAN No.: [Permanent
Account No.] |
AAZFS2780A |
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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 Pressure Die Castings / Solutions with requirement
of TS – 16949 and Tool Room Facility. |
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 40000 |
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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.
Trade relations are fair. Payments are usually correct and as per
commitments. The concern can be considered normal for business dealings at usual
trade term and conditions. |
LOCATIONS
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Registered Office Factory : |
No.41, J C Industrial Estate, Near Delhi Public School,
Yelachenahalli, Kanakapura Road, Bangalore – 560 062, Karnataka |
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Tel. No.: |
91-80-26662001 |
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Mobile No.: |
91-9886403656 |
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Fax No.: |
91-80-26661400 / 2001 |
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E-Mail : |
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Website : |
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Area : |
7000 sq.fts (Office) 5000 sq.fts (Factory) |
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Location : |
Rented |
PARTNERS
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Name : |
Mr. Manjunath S Samprathi |
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Designation : |
Partner |
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Date of Birth/Age : |
37 years |
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Qualification : |
Diploma, Mechanical |
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Experience : |
17 years |
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Mobile No: |
91-9886403656 |
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Name : |
Mr. Annadurai |
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Designation : |
Partner |
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Date of Birth/Age : |
37 years |
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Qualification : |
Graduate |
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Experience : |
17 years |
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Mobile No: |
91-9448146984 |
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Name : |
Mrs. Lakshmi Kulkarni |
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Designation : |
Partner |
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Date of Birth/Age : |
33 years |
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Qualification : |
Post Graduate |
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Experience : |
10 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Pressure Die Castings / Solutions with
requirement of TS – 16949 and Tool Room Facility. |
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Products: |
· Auto Parts · Aerospace Parts · Gas Regulators · Handles · Process Industries · Auto Meters Castings · Consumer Electrical Industries · Textile Industries · Electronic Industries ·
Die Castings ·
Tool Room |
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Exports : |
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Countries : |
Canada |
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Terms : |
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Selling : |
Cash, Credit (90 days) |
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Purchasing : |
Cash, Credit (30 days) |
GENERAL
INFORMATION
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Customers : |
Wholesalers, End Users |
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No. of Employees : |
38 |
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Bankers : |
Karur Vysya Bank, ISRO Layout Branch, Bangalore, Karnataka, India |
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Facilities : |
Subject enjoys cash / credit of Rs. 0.750 million from its bankers) |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
K Narayan and Company Chartered Accountants |
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Address : |
Bangalore - 560 018, Karnataka,
India |
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Tel. No.: |
91-80-26524160 |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 10.000 millions |
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Borrowed : |
---- |
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Total : |
Rs. 10.000 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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43.000 |
30.500 |
Expected Sales (2007-08): Rs. 60.000 millions
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCE:
· Tyco Electronics Corporation India Private Limited, Bangalore, Karnataka, India
· Perfect Engineering, Bangalore, Karnataka, India
· Vardhman Group, Bangalore, Karnataka, India
WEBSITE DETAILS:
Subject is a TS-16949 certified company for manufacturing of Aluminium and zinc die castings based in Bangalore-India.
Has a brand new manufacturing facility with trained manpower to offer one-stop solutions to all die castings and machining needs. Has its own tool room facility for manufacture of pressure and gravity die casting tools with high quality at competitive cost and on time delivery.
INFRASTRUCTURE:
DIE CASTING
The concern manufacturing facilities includes 120T, 150T and 300T cold chamber die casting machine. Melting cum holding furnace with silicon carbide crucibles. Captive power and in house post die casting facility.
TOOL ROOM
Design capability with UG and solid works. Conventional machines like lathe drilling milling surface grinding. EDM with 3axis DRO and CNC machining facility (VMC and Turning Centre).
PRODUCTION CAPABILITY
They deliver customized products with stringent quality systems in every stage of process to give products complying to international standards. They aim to improve the time to market and reduce the in house effort/investment while delivering quality product at lower cost.
Their cold chamber die castings machines can produce upto 3 Kgs(cast area of 450 sq cm)with PLC system for monitoring process parameters.
They also offer
casting with
· Machining
· Shot Blasting
· Plating
· Anodizing
· Powder Coating
· Chromating
· Edcoat
· Assembly
· Seaworthy Packing
Subject is a TS-16949 certified company for manufacturing of aluminium and zinc die castings based in Bangalore-India.
Subject has a brand-new manufacturing facility with trained manpower to offer one-stop solutions to all die castings and machining needs.
Subject has its own tool room facility for manufacture of pressure and gravity die casting tools with high quality at competitive cost and on time delivery.
QUALITY POLICY
They at the concern are committed to achieve customer satisfaction by the on time deliveries at agreed quality and price level through continuous improvement in process and services.
They deal with wide range of products which includes
· Auto Parts
· Aerospace Parts
· Gas Regulators
· Handles
· Process Industries
· Auto Meters Castings
· Consumer Electrical Industries
· Textile Industries
· Electronic Industries
·
Die Castings
·
Tool Room
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.39.41 |
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UK Pound |
1 |
Rs.81.37 |
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Euro |
1 |
Rs.58.56 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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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46 |
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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