MIRA
INFORM REPORT
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Report Date : |
10.10.2007 |
IDENTIFICATION DETAILS
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Name : |
SHREYA ENGINEERING WORKS |
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Registered Office : |
E-5, Shed No.C1/10, Near Fine Cast, At and |
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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 Exporter of Continuous Ice Cream Freezer, Ice
Cream Cup/Cone Filling Machine, Rotary Ice Cream Cup Filling Machine, Linear
Cup Filling Machine, Automatic Candy / Lolly, Fruit Feeder, Triple Ripple
Machine, Semi Automatic Cone Filling Machine, Flavored Milk Filling and
Sealing Machine, Automatic Curd Filling Machine, Automatic Yogurt Filling
Machine. |
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 400 |
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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 terms and conditions. |
LOCATIONS
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Registered Office/Factory: |
E-5, Shed No.C1/10, Near Fine Cast, At and |
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Tel. No.: |
91-2692-232185 |
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91-9427004851 / 9825085951 |
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Fax No.: |
91-2692-236454 |
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E-Mail : |
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Website : |
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Area : |
11000 sq.fts |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. Paresh Prajapati |
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Designation : |
Proprietor |
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Date of Birth/Age : |
35 years |
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Qualification : |
Post Graduate with Diploma |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Continuous Ice Cream Freezer, Ice Cream Cup/Cone Filling Machine, Rotary Ice Cream Cup Filling Machine, Linear Cup Filling Machine, Automatic Candy/Lolly, Fruit Feeder, Triple Ripple Machine, Semi Automatic Cone Filling Machine, Flavored Milk Filling and Sealing Machine, Automatic Curd Filling Machine, Automatic Yogurt Filling Machine |
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Products : |
· Continuous Ice Cream Freezer (Model: CF-160, CF-200 and CF-300) · Ice Cream Cup/Cone Filling Machine (Model: CF-30 & CF-60 PLC Base) · Rotary Ice Cream Cup Filling Machine (PLC Base) · Linear Cup Filling Machine (Model: LCF-60 PLC Base) · Automatic Candy/Lolly Machine (CANDY-2000, PLC Base) · Fruit Feeder (Model: IF-300 & IF 600) · Triple Ripple Machine · Semi Automatic Cone Filling Machine · Flavored Milk Filling and Sealing Machine · Automatic Curd Filling Machine · Automatic Yogurt Filling Machine |
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Exports : |
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Products : |
All products |
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Countries : |
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Terms : |
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Selling : |
L/C, D/D |
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Purchasing : |
Cash, Credit (30 Days) |
GENERAL INFORMATION
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Customers : |
·
Dilbahar Ice
cream and Food Industries, ·
Kamboliwala
Dairy , Amod, Bharuch ( ·
Sugam Dairy, ·
Windy’s Ice
cream, Mumbai ( · Preeti Ice cream and Foods , Jaipur ( Rajasthan ) ·
Rainbow Ice
cream, ·
Ganga Foods (
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Bachubhai
Dudhwala Private Limited , ·
Sri Srinivasa
Dairy Products Private Limited, · Johnson Ice cream, Indore ( MP ) ·
Health
Food Products Private Limited, ·
Vadilal
Industries Limited Ahmedabad ( · Nahar Frozen Foods and Ice cream Private Limited ,Nashik ( Maharastra ) ·
Shital Ice
cream, Amreli ( ·
Raj
Ice cream, Ahmedabad ·
S.M. Milk
Products and Company, Jalandhar ( ·
Pune
Frozen Foods , Pune ·
Mona
Ice cream, Jalgaon · Mr. Viren Diwanji ( Exproter ) |
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No. of Employees : |
14 |
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Bankers : |
· Axis Bank Address: VV Nagar Branch · UCO Bank Address: VV Nagar Branch ·
State Bank of Address: VV Nagar Branch |
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Banking
Relations : |
---- |
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Auditors : |
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Name : |
Mr Piyush Panchal Chartered Accountants |
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Mobile No.: |
91-9879399655 |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 0.100 million |
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Borrowed : |
--- |
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Total : |
Rs.0.100 million |
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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8.000 |
6.000 |
Expected Sales (2007-08) : Rs.15.000 millions
LOCAL AGENCY FURTHER INFORMATION
WEBSITE DETAILS:
Subjects have been dedicated to satisfying their customer's needs for
filling machinery. Their success comes from the close business partner ship
they build with each and every customer. They began more then four years by
listening to what their customer wanted and incorporating those requirements
into their designs. They continue this approach today and prove this commitment
by the significant number of repeat customers.
Subject is suited to serve even the smallest local manufacturer, yet they are
also capable of support for the leading producers in the Food, Dairy and
Beverages.
The concern has concentrated all efforts in their core business to achieve a high
level of vertical integration in manufacturing. This means utilizing advanced
technologies to provide the most sanitary, efficient and productive machines
that operate at the lowest cost, yet they are known for durability, reliability
and longevity. This translates to producing equipment more effectively for
their customers without sacrificing the highly regarded their quality. Rupees
to rupees, the best value for the money is what they strive to give their
customers with every machine they design and build.
The concern is dedicated to providing the customers with most reliable and innovative packaging machinery, service and parts in the industry.
The concern has now come out with a new range of continuous freezer based
on the latest technology with simple operation and maintenance. The operator
would like to work on it due to its high performance and simple operation,
which would enable the production to increase. The equipment is designed to
produce 100% overrun.
SALIENT FEATURES:
• Cabinet is mad of stainless steel.
• Refrigeration unit is powered with maneurope of France/Copeland USA
hermetic or Semi hermetic Compressors.
• Stainless Steel Barrel with externally grooved fins for improved evaporation
and efficient cooling.
• Stainless steel Scrapper Blades.
• Adjustable control for over run.
• Solenoid operated Hot gas.
• Control panel of stainless steel Body with Digital Amperemeter, other
preventors and interlock system.
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.39.34 |
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1 |
Rs.80.17 |
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Euro |
1 |
Rs.55.51 |
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 |
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 |
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 |
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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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/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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