MIRA
INFORM REPORT
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Report Date : |
15.10.2007 |
IDENTIFICATION DETAILS
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Name : |
GARUD ALLIED TECHNOLOGIES |
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Registered Office : |
Plot No.41, S No. 607, Machee Industrial Estate, Machhe, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1997 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRG08199C |
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PAN No.: [Permanent
Account No.] |
AABFG3013E |
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Legal Form : |
Partnership concern with an Unlimited Liability of the partners. |
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Line of Business : |
Engaged in the process of Electro Plating of Components such as
Hydraulic Shafts, Valves, Platic Injection Moulds, Screws, etc |
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 10000 |
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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. Partners are 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 : |
Plot No.41, S No. 607, Machee Industrial Estate, Machhe, Belgium -590
014, Karnataka, India |
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Tel. No.: |
91-831-2411535 |
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Fax No.: |
91-831-2411738 / 2432105 |
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E-Mail : |
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Website : |
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Area : |
10000 sq.fts |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Sachin Parmaj |
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Designation : |
Partner |
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Date of Birth/Age : |
37 years |
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Qualification : |
BE |
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Experience : |
12 years |
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Name : |
Mr. Ashish Kulkarny |
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Designation : |
Partner |
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Date of Birth/Age : |
37 years |
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Qualification : |
BE |
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Experience : |
12 years |
BUSINESS DETAILS
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Line of Business : |
Engaged in the process of Electro Plating of Components such as
Hydraulic Shafts, Valves, Platic Injection Moulds, Screws, etc |
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Terms : |
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Selling : |
Credit (30-45 days) |
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Purchasing : |
Credit (30-45 days) |
GENERAL INFORMATION
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Customers : |
·
Bemco Hydraulic, ·
Manugraph Industries, ·
Oil Gear Developers, |
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No. of Employees : |
20 |
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Bankers : |
State Bank of Address: Rani |
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Facilities : |
Rs. 0.400 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Maney Huilgol Chartered Accountants |
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Address : |
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Memberships : |
Metal Finishers Association of |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.500 millions |
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Borrowed : |
---- |
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Total : |
Rs. 2.500 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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4.000 |
2.800 |
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Profit/Loss for the year |
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Around 15% |
Around 15% |
Expected Sales (2007-08): Rs. 8.000 millions
Average Value of inventories at any given time Rs. 0.400 millions
LOCAL AGENCY FURTHER INFORMATION
WEBSITE DETAILS:
GARUD ALLIED
TECHNOLOGIES
With a perfect combination of highly qualified engineers and latest innovative technologies, they, at the concern, introduce their selves as a well known destination offering a gamut of unmatched electroplating services. The concern offers services like Hard Chrome Plating, Electroless Nickel Plating, Mn-Phosphate Coatings, Zinc Plating, Electro Polishing and Hard Anodizing at most economical prices. They are a perfect amalgam of latest technologies and excellent human resources to render incomparable services to their prestigious clients.
Subject is committed to provide high corrosion protection, extreme wear resistance and precise dimensional and form tolerances, to meet the rigid specifications of the clients. They invest regularly to promote knowledge in the area of technical development, research and production. The concern is committed to deliver the best, thus leaving no room for customer grievances. Their mentor Mr. V.S. Kulkarni is a member of the prestigious Metal Finishers Associations of India.
Services Offered
The concern is a reputed company engaged in offering the following services to its clients:
· Hard Chrome Plating on C-steel, Graded C.I., Al. Alloys, Cu, etc.
· Electroless Nickel Plating on C-steel, Al. Alloys, Cu and Plastics
· Mn-Phosphate Coatings on transmission Components (C-steel)
· Zinc Plating with Yellow Passivation and other passivation as per requirement
· Electro Polishing
· Hard Anodizing.
Quality Assurance
Superior quality is the primary concern at the concern. They have an expert staff for inspection of sizes, quality of plating, quality of base metal and detecting and analyzing surface defects like machining imperfections, etc. A team of well trained and qualified engineers monitors the entire process thereby leaving no possibility of quality degradation.
They follow ASTM and other internationally accepted norms and procedures in their process in order to quench the desirable quality thirst of their clients. Several quality control checks are undertaken to determine dimension, form, thickness of plating, quality of plating, chemical analysis, etc. They pride their selves in delivering one of the best services in the industry.
R and D
Research and development is an integral part of their system. They have a well equipped R and D wing that works round the clock to innovate latest procedures, in order to serve their clients in a better way. Their concern owns latest devices and equipments like hull cell, titration equipment, Digital PH-meter, Thickness Tester, Microgram Weighing Machine, etc. that help them to perform every task smoothly and perfectly.
Infrastructure
The concern owns an advance unit at
Competitive Edge
· A sound infrastructure equipped with advanced and innovative technology
· Right combination of personnel, machines--the total operating system
· Adherence to the industrial norms and international quality standards
· Regular induction of new processes
· Continuous improvement of existing processes
· Constant upgradation to ensure efficient production and quality control practices.
Clients
Their quality is trusted by many eminent names of the corporate world such
as:
· Bemco Hydraulics Limited.
· Polyhydron Private Limited.
· Fairfield Atlas Limited.
· Servo Controls Private Limited and many other leading names of the industry.
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 |
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 |
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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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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