MIRA
INFORM REPORT
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Report Date : |
13.10.2007 |
IDENTIFICATION DETAILS
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Name : |
ARVIND ENGINEERS |
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Registered Office : |
17 / 3, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1986 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporters of Sheet metal Components for automobiles
and others |
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 160000 |
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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 : |
17 / 3, |
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Tel. No.: |
91-129-2290244 / 4001978 |
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Mobile No.: |
91-9810013379 / 9818253378 |
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Fax No.: |
91-129-4077978 |
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E-Mail : |
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Area : |
2500sq.yds |
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Location : |
Owned |
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SOLE PROPRIETOR
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Name : |
Mr. Sanjeev Gupta |
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Designation : |
Proprietor |
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Address : |
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Date of Birth/Age : |
50 years |
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Qualification : |
Graduate |
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Experience : |
25 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporters of Sheet metal Components for automobiles
and others |
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Products : |
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Exports : |
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Products : |
Sheet Metal Components |
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Countries : |
U K |
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Imports : |
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Products : |
Spares and Machinery |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit ( 30 days) |
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Purchasing : |
L/C, Cash, Credit (30 days) and Sight |
GENERAL INFORMATION
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Customers : |
♠
Sona Somic Lemforder Comp. Limited., Gurgaon ♠
Sona Koyo Steering Systems Limited., Gurgaon ♠
Rane ( ♠
Rane Brake Linning Limited. (GROUP), Chennai, ♠
Sundaram Brake Linings Limited - Chennai ♠
Rollunds Brake Linings Limited. - Sonepat ♠
Allied Nippon Limited. Sahibabad ♠
Escort Limited. (GROUP), ♠
Q.H. Taldros - Gurgaon ♠
Lumax Industries Limited., Gurgaon / Pune ♠
Hero Motors., ♠
JMA Industries., |
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No. of Employees : |
286 (16 Office, 270 Factory) |
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Bankers : |
˛
Nanital Bank Limited ˛
Ing Vysya Bank Limited |
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Facilities : |
Rs.50.000 millions (Nanital Bank Limited) |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Alok Gupta and Company Chartered Accountants |
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Address : |
Sector 17, |
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Memberships : |
©
FSIA ©
ISO 9001 – 2000 ©
FEMA ©
CII |
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Associates/Subsidiaries : |
Sri Aurobindo Automotive Components Line of Business: Manufacturing of Machined and Un-machined Steel
Forged-parts for "Automotive and Engineering Industry |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.40.000 millions |
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Borrowed : |
-- |
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Total : |
Rs.40.000 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 |
300.000 |
281.500 |
211.200 |
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Profit/Loss for the year |
23.528 |
20.510 |
18.461 |
Expected Sales (2007-08) : Rs.375.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade References:
ł
Sona Stearing Private Limited, Gurgaon
ł
Federal Mugal,
As Per Web Details
Profile:
Subject is an ISO-9001:2000 company, established in the year 1986, having
a Group Turnover of Rs. 300 million per annum. Since the beginning they have
been engaged in the manufacturing and supplying high quality automobile Sheet
Metal Components, Welded Sub-Assemblies, CNC Machined Components and Hot
Forgings to Original Equipment Manufacturers (OEM) in
Their Productions
They are known as one of the largest manufacturers of Front Suspension Arms for
all small and medium sized cars in
Their Specializations
The organization lays stress on development in the field of manufacturing of
its products and acquired premium machinery to cater to the press and welding
shops.
Specialization:
- Sheet Metal
(65 power presses up to 350 Ton capacity).
- Fabrication
(26 welding machines including S.P.M's).
- Forgings (2 -
Hammers 1.0 Ton & 1.5 Ton and 2 150 Ton capacity Friction Screw
Press).
- Suspension
Parts
- CNC (14 -
Their Infrastructure
Their entire production unit is
well-equipped with state-of-the-art machines & equipments viz. Mechanical
and Hydraulic Power Presses, CO2 MIG Welding, Spot Welding,
Projection Welding, Arc Welding Facilities, CNC and VMC Machines & Friction
Drop Hammer with in house tools dies, Jig & Fixture designing and
Manufacturing facilities. This has enabled them to firmly establish a name for
their quality productions in the relevant markets both Domestic and International.
Their Achievements for year 1986-2004
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991 |
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1996 |
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1997 |
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2000 |
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2001 |
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2002 |
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2003 |
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2005 |
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2006 |
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Their Management
They have a highly proficient and participative management team who combine culture
with basic ethics in business and services. Their continuous growth, harmony
and prosperity ensures their steady and well-renowned establishment.
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.39.33 |
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1 |
Rs.79.74 |
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Euro |
1 |
Rs.55.74 |
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 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
YES |
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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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54 |
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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