MIRA
INFORM REPORT
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Report Date : |
09.10.2007 |
IDENTIFICATION DETAILS
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Name : |
R V EXTRUSION ENGINEERS |
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Registered Office : |
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Tel. No.: |
91-129-2480080 |
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Fax No.: |
91-129-4025099 |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2001 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporters of Extrusion Related Products |
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 13600 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed concern having satisfactory track.
Proprietor is reported as experienced and respectable businessman. Trade
relations are reported as fair. Business is active. Payments are usually
correct and as per commitments. The concern can be considered normal for business dealings at usual trade
terms and conditions. |
LOCATIONS
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Registered Office / Factory : |
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Tel. No.: |
91-129-2480080 |
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Mobile No.: |
91-9873805099 / 9311225099 |
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Fax No.: |
91-129-4025099 |
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E-Mail : |
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Area : |
500sq.mtrs (Office) 305sq.yds (Factory) |
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Location : |
Owned |
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SOLE PROPRIETOR
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Name : |
Mr. Rakesh Kumar Singh |
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Designation : |
Proprietor |
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Date of Birth/Age : |
42 years |
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Qualification : |
Graduate |
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Experience : |
20 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporters of Extrusion Related Products |
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Products : |
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Exports : |
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Products : |
Extrusion related products |
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Countries : |
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Terms : |
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Selling : |
Credit and Cash |
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Purchasing : |
Credit (60 days), Cash and Sight |
GENERAL INFORMATION
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Customers : |
Local Customers and End Users |
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No. of Employees : |
23 (3 Office, 20 Factory) |
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Bankers : |
HDFC Bank, ICICI Bank, Sector 21 D, |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Yashwant Kumar Thakur Chartered Accountants |
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Address : |
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Associates/Subsidiaries : |
R. V. Furnaces, Line of Business: Furnaces |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.3.400 millions |
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Borrowed : |
-- |
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Total : |
Rs.3.400 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
12.500 |
8.700 |
8.000 |
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Profit/Loss for the year |
0.250 |
0.200 |
0.180 |
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LOCAL AGENCY FURTHER INFORMATION
Trade References:
²
Jindal Aluminium Limited
²
Ael Extrusion Limited
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Alom Extrusion, Kolkata
As Per Web Details
Concern Profile:
Subject is a manufacturer and exporter engaged in the fabrication of highly efficient and durable cutting and
casting machines. Their product line includes Run Out Table, DC Casting Machines, Hot Top
Casting Machines, Aluminium Billet Casting Machines, Finished Section Cutting
Machines and Extrusions. All their products are designed after thoroughly
accessing various needs of the sector so that they are capable of providing
maximum utility to the clients.
They
are professionally managed by a group of technocrats having in-depth expertise
of the trade. Their sincere approach towards product innovation and client
satisfaction has helped them to earn a substantial market share, not only in
domestic but also in overseas market. All their products are user friendly and
are capable of rendering years of services to their clients.
Their Quality
They
know that in today's competitive world; only quality products are allowed to
survive in the market. Thanks to their strict quality management programmed
that facilitates the production of only best products from every level. The
entire process is monitored by a strong team of well trained technicians who are
experienced enough to foil every attempt on quality front. Committed towards
total client satisfaction, they dispatch their products after proper trail and
testing, thus leaving no space for consumer grievances.
Their Motto
Their
sole business motto is to deliver their valued clients with a superb range of
products at economical prices. They are known for their client oriented
approaches and transparent trade practices among their business associates.
Their capability to ensure timely delivery of the products further cements
their relationship with client.
R & D
Research
and development is a regular part of their working system. They have a full
fledged R & D wing that regularly monitors the emerging requirements of the
market in order to design the perfect solutions as per exact demand.
Infrastructure
R.V.
Extrusion is a perfect blend of innovative manpower and ultra modern techniques
to manufacture most advance solutions for its prestigious clients. Every task
is executed by employing latest technologies that facilitates smooth and
efficient production at every stage.
Their Hallmarks
- Backed by a qualified team of acumen
and pro-active employees as well as advanced machineries
- Production unit installed with the latest
modern technology and facilities
- Upgradation of machinery with the
latest techniques
- Team of experts to monitor the
manufacturing process
- Competitive prices--the best price
offered in the market
- Enhancement of products both in quality
and innovation.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.39.43 |
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1 |
Rs.80.44 |
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Euro |
1 |
Rs.55.66 |
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 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
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 |
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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45 |
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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