MIRA
INFORM REPORT
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Report Date : |
26.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
PARSONS TECHNO GAS |
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Registered Office : |
Plot No. 5/23, GIDC, Phase – I, Vatva, Ahmedabad – 382445, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1985 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMP02180D |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturing, exporting and supplying of Plastic, Bakelite
Injection/Compression Moulding and Al./Brass Pressure Die Casting and Gravity
Casting Components. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 20000 |
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Status : |
Small concern |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small concern having steady business. It’s trade relations
are fair. Payments are usually correct and as per commitments. The concern can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
Plot No. 5/23, GIDC, Phase – I, Vatva, Ahmedabad – 382445, Gujarat,
India |
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Tel. No.: |
91-79-65121022 / 25895083 |
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Mobile No.: |
91-9426519954 |
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E-Mail : |
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Website : |
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Area : |
700 sq. mtr. [Owned] |
PARTNERS
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Name : |
Mr. Hiten Parmar |
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Designation : |
Partner |
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Date of Birth/Age : |
38 Years |
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Qualification : |
Graduate |
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Experience : |
17 Years |
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Name : |
Mr. Jitendra Parmar |
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Designation : |
Partner |
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Date of Birth/Age : |
42 Years |
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Qualification : |
Post Graduate |
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Experience : |
17 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturing, exporting and supplying of Plastic, Bakelite
Injection/Compression Moulding and Al./Brass Pressure Die Casting and Gravity
Casting Components. |
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Products : |
·
ParsonsTM Brand:
Biogas Valves (1/2", 3/4", 1") ·
ParsonsTM Brand:
Biogas Water Removers (Size- 1/2") ·
PTGTM Brand:
Bakelite/Plastic Knobs (for LPG Stoves) ·
Electric Control Panel
Switch Board Knobs ·
Aluminium/Brass Gravity and
Pressure Die Castings ·
Moulds and Dies for Plastic
Injection Mouldings (as per clients' requirements) ·
Moulds and Dies for
Bakelite Compression Mouldings (as per clients' requirements) ·
Moulds and Dies for
Pressure Die Casted Components (as per clients' requirements) |
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Exports : |
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Countries : |
Middle East |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit [90 days] |
GENERAL
INFORMATION
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Customers : |
Open Market Government and Semi Government |
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No. of Employees : |
20 |
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Bankers : |
Ahmedabad Mercantile Co-operative Bank, Vatva |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
N. R. Sirkhedi Chartered Accountants |
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Address : |
Rajkot |
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Associates/Subsidiaries : |
Nil |
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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2.000 |
1.500 |
Expected Sales (2007-08) : Around Rs.2.500 Millions
LOCAL AGENCY
FURTHER INFORMATION
AS PER WEBSITE
Profile
The business philosophy of their organization is to
understand the needs and wants of the clients and manufacture customized
products. They are manufacturers and
exporters of Biogas Valves, Bakelite Knobs for LPG Stoves,
Plastic and Bakelite Moulds, Control Panel Switch Board Knobs,
Injection/Compression Moulding of Plastic and Bakelite Engineering Parts.
Subject was established
in 1985 with a vision to be a leader in the field of manufacturing, exporting
and supplying of Plastic, Bakelite
Injection/Compression Moulding and Al./Brass Pressure Die Casting and Gravity
Casting Components. In order to turn this vision into reality,
they have a dedicated team of professionals, who primarily focus on identifying
new markets and educating interested parties about their product range. To
accomplish this, they have a modern plant from where they produce world class Moulds/Dies and Components. Their
commitment towards quality continues while testing them at their quality
laboratory to check the functionality of the products. They cater to various
markets across the country and foreign markets as well. They endeavour to offer
products that are high in quality and emphasize on timely delivery of their
consignments to all their clients countrywide. Their diligent and talented
engineers are involved in designing and manufacturing the highest quality
products. They make an effort to reconcile the organizational goals and the
industrial requirements by offering products that are unique and path-breaking.
Excellence
Quality is of prime importance for them, and by continuously improving their
standards of excellence, they commit to provide better quality products and
services. Each and every activity in the production line is subjected to
stringent quality checks and thorough series of tests. They adhere to the
industrial norms and have a team of experts which maintains and supervises the manufacturing
process.
Facilities
Their company is well equipped with state of the art manufacturing facilities,
having modern technology and hi-tech machines, that yield productive and
efficient results. They are proud to have a skilled and trained workforce, an
efficient management and well equipped production unit, with the required
machinery and technology. To keep abreast with the changing trends, they
continually invest in the technological upgradation.
Patrons
They endeavor to satisfy their clients by offering them quality products at the
most competitive rates. This has helped them to clinch a set of high profile
and loyal patrons from all over the country.
Quality
Assurance
In this competitive market, quality is one of the factors
which differentiate manufacturers from each other. Their understanding of this
fact combined with the drive to be a leader in the industry has given them an
insight to focus on the quality of their products. They make careful
considerations from the very beginning of the process of production and
manually check the products at every stage of production. The finished products
are then tested for functionality at their in-house laboratory. Such detailed
measures of ensuring product quality has put them on the fast track of growth.
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.39.85 |
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UK Pound |
1 |
Rs.82.61 |
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Euro |
1 |
Rs.59.21 |
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 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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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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37 |
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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