MIRA
INFORM REPORT
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Report Date : |
29.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
WARADE PRESSING AND ASSEMBLIES |
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Registered Office : |
Gat No. 52, Dehu Aladi Road, Chikhali, Pune - 412114, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
October 2006 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufactures and supplier of Automotive parts, Seat Frames, Metal pressing
accessories, Press tools, Compression moulds, Welding jig-fixtures, Panel
checkers, Pressure die casting (PDC) tools and pressure die 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 4000 |
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Status : |
New Concern |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a new concern in it’s field. Trade relations are fair.
Payments are usually correct and as per commitments. Initially, the concern can be considered for small to mediocre
business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office / Factory : |
Gat No. 52, Dehu Aladi Road, Chikhali, Pune - 412114, Maharashtra,
India |
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Mobile No.: |
91-9823455530 |
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Website : |
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Area : |
Owned |
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Factory II : |
1463, Kudalwadi, Behind Tata Motors, Pimpri, Chikhali, Pune – 412114,
Maharashtra, India |
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Tel. No.: |
91-20-27493348 |
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Fax No.: |
91-20-27494270 |
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E-Mail : |
SOLE PROPRIETOR
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Name : |
Mr. Viju Khanase |
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Designation : |
Proprietor |
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Date of Birth/Age : |
38 Years |
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Qualification : |
Under Graduate |
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Experience : |
10 Years |
BUSINESS DETAILS
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Line of Business : |
Manufactures and supplier of Automotive parts, Seat Frames, Metal pressing
accessories, Press tools, Compression moulds, Welding jig-fixtures, Panel
checkers, Pressure die casting (PDC) tools and pressure die casting
components. |
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Terms : |
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Selling : |
Credit [60-90 days] |
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Purchasing : |
Credit [60-90 days] |
GENERAL
INFORMATION
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Customers : |
OEM’s
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No. of Employees : |
Around 100 |
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Bankers : |
Syndicate Bank, Chikhli Branch |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Associates/Subsidiaries : |
Head office and Factory : S. No.
879, Siddhivinayak Industrial Estate, Kudalwadi, Chikhali, Pune – 412114 Unit II Gat
No. 245, Borhadewasti, Moshi, Chikhali, Pune – 412114 Tel
No.: 91-20-27490904 91-20-27494273
Unit – III Suevey
No. 337. Village Baska, Taluka Halol, Panchmahal, Gujarat, India Tel –
Fax : 91-2676-247037 Email
: harshal@waradegroup.com
Gat
No. 168, Borhadewadi, Chimbali, Nashik Pune Highway, Tal Khed, Pune – 412114 Tel
: 91-20-27490090 E -
mail : alcast@waradegroup.com |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.000 Million |
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Borrowed : |
-- |
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Total : |
Rs. 1.000 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
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Sales Turnover |
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2.000 |
Expected Sales (2007-08) : Rs.60.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
AS PER WEBSITE
Profile
Warade Group was
established in the Year 1989 by highly experienced and qualified Tool Design
Engineers. The founder Directors of Warade Group have a rich blend of global
expertise having served in major companies. Presently Warade Tools Private
Limited is one of the biggest in house tool room in India.
Mission:
To become
India's one of the most reliable and competitive supplier of Automotive Metal
Pressing Accessories, Seat Frames, Press Tools Compression Moulds, Jigs and
Fixture & Pressure Die Castings (PDC).
Warade Group
constitutes of:
Warade Tools
Private Limited (One of the biggest
Tool Room in India)
Harshal Pressings
Private Limited (Sheet metal & Fabrication)
Warade Alcast
Private Limited (PDC)
To be
successful in their mission, their principle objective is to achieve total
customer satisfaction through excellent quality, prosperity and globalisation.
Every Business recognise the benefits to be gained from exceeding the desire of
its customers. A commitment to continuous improvement their customer
relationship and continuous training and skill enhancement of their employees
enables them to provide the best of the technology and value added solutions to
their client. The group brings together a professional attitude with a passion
for overall business development.
Group Companies
Warade Tools Private Limited
Warade Tools Private Limited formerly known as USHA
ENTERPRISES was established in the Year 1989, by highly
experienced and qualified Tool Design Engineers. The founder Directors of
Warade Group have a rich blend of global expertise having served in major
companies.
Their Tool Room is ISO 9000-2001 Certified, which is biggest
in house tool room in India.
Warade Alcast Private Limited
Warade Alcast Private Limited is part of Warade Group,
leader in light metal pressure die casting technology. Their commitment to
advanced technology has to led to products that consumer trust.
Through great success of intensive research and development
with an emphasis on quality, Warade Alcast continues to master new application
for Pressure Die Casting in global market.
Harshal Pressings Private Limited
Harshal Pressings Private Limited is an ISO 9000-2000
certified company, having large number of single and double acting presses with
capacity ranging from 50 T to 1000 T.
Harshal pressings Private Limited having three Units out of
which two units are in Pune, Maharashtra & one unit is located in Halol,
Gujarat. The first unit is having all presses and all types of sheet metal
work. Second and third unit is i manufactures the automotive seat frame with
the facility of CNC pipe bending machine, latest welding machinery and
powder coating.
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.39.68 |
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UK Pound |
1 |
Rs.82.11 |
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Euro |
1 |
Rs.58.81 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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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 |
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 |
NO |
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--AFFILIATION |
YES/NO |
YES |
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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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35 |
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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