MIRA
INFORM REPORT
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Report Date : |
22.10.2007 |
IDENTIFICATION DETAILS
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Name : |
PETRO VALVES PRIVATE LIMITED |
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Registered Office : |
7, Patel Mehta Estate, Ahmedabad - 380023, |
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Country : |
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Financials (as on) : |
30.09.2007 |
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Date of Incorporation : |
07.02.2007 |
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Com. Reg. No.: |
04-49949 |
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CIN No.: [Company
Identification No.] |
U29130GJ2007PTC049949 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMP05415E |
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PAN No.: [Permanent
Account No.] |
AAECP1742K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing and Exporting of a wide spectrum of industrial valves
like Ball Valves, Fire Safe Ball Valves, |
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 : |
-- |
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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 successor to partnership concern which was an established
concern. Trade relations are fair. Payments are usually correct and as per
commitments. Nothing adverse reported. The company can be considered normal
for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
7, Patel Mehta Estate, Ahmedabad - 380023, |
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Tel. No.: |
91-79-22773305 |
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Mobile No.: |
91-9824013788 |
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Fax No.: |
91-79-22773305 |
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E-Mail : |
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Website : |
http://www.petrovalves.co.in (under construction) |
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Area : |
100 sq. yards |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. P D Patel |
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Designation : |
Director |
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Date of Birth/Age : |
35 Years |
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Qualification : |
B. E. Mechanical |
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Experience : |
Around 10 – 12 Years |
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Name : |
Mr. R V Patel |
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Designation : |
Director |
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Date of Birth/Age : |
42 Years |
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Qualification : |
Diploma with Mechanical |
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Experience : |
Around 20 – 25 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and Exporting of a wide spectrum of industrial valves like Ball Valves,
Fire Safe Ball Valves, |
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Products : |
* 2 Way Ball
Valves * Fire Safe Ball
Valves * * Remote Operated/Pneumatic
Actuator Ball Valves * Investment
Castings * Segmented/Wafer
Ball Valves * Flush Bottom
Ball Valves * Ball Valves * Fire Safe Ball
Valves * 3 Way-4 Way
Valves * Flush Bottom
Valves * Segmented Ball
Valves * Wafer Type Ball
Valves |
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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 : |
T/T, D/P and L/C, Cash and Credit upto 30 days basis |
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Purchasing : |
Credit upto 30 days basis |
GENERAL INFORMATION
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Customers : |
* Industrialists * Manufacturers |
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No. of Employees : |
About 16 |
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Bankers : |
State Bank of |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
C A Shah and Associates Chartered Accountants |
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Address : |
Ahmedabad, |
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Certification : |
ISO 9001:2000 certified concern |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100
million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
As per the subject is a new company, no financials are yet available.
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Particulars |
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28.02.2007 To 30.09.2007 (8 months
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Sales Turnover (around) |
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8.000 |
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Expected Sales (2007-08) : Rs. 15.000 – 20.000 millions
LOCAL AGENCY FURTHER INFORMATION
HISTORY
Previously firm was running in the name of Petro Valves as partnership
concern. Now it becomes Petro Valves Private Limited as private limited company
w.e.f. 07.02.2007.
As Per Web:
Profile :
Based in Ahmedabad, Petro
Valves Private Limited is one of the leading business houses in the
field of Industrial Valves. They
are fully geared to execute manufacturing and exporting of a wide spectrum of
industrial valves like Ball Valves,
Fire Safe Ball Valves,
Products
The values which possess are integrity, reliability, innovation and customer focus that have earned us an invaluable goodwill in the domestic and international markets. All products are specially made as per the quality requirements of the International Standards like ISO9001:2000, API6D, BS5351, BS EN ISO 17292, ANSI B 16.5, ANSI B16.10, ANSI B16.11, BS 6755 Part I, API598, API607, etc.
* 2 Way Ball Valves
* Fire Safe Ball Valves
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* Remote Operated/Pneumatic Actuator
* Ball Valves
* Investment Castings
* Segmented/Wafer Ball Valves
* Flush Bottom Ball Valves
* Ball Valves
* Fire Safe Ball Valves
* 3 Way-4 Way Valves
* Flush Bottom Valves
* Segmented Ball Valves
* Wafer Type Ball Valves
Infrastructure
Infrastructural base is the best with all sorts of equipment
and machineries. They are fully equipped with a state-of-the-art workshop and
almost all the sophisticated instruments to check the quality of the products.
They have an incredible capacity to manufacture products in proportion to the
requirements. Besides, they boast of a highly skilled as well as dedicated
manpower which is main driving force. A professional team comprising of
technicians have been engaged and entrusted to implement Quality Control
Programs and continuously improve the technology. The company constantly
upgrades its technology through strict inspection and Quality Control Programs.
Product Applications
Petro Valves Private Limited gives valves to oil and gas, power, petrochemicals, refineries, chemicals pharma and a host of industries. They also provide customers Fire Safe design and type tested ball valves as per API607. These valves are offered in accordance to standards with customer requirements and also under third party inspection. They offer valves of high quality for low and high pressure as well as high temperature services. Their valves combine two essential features like Higher Efficiency and Lower Maintenance. With stringent quality control measures and improved features, these valves provide the economy of quality, in terms of long reliable service. They are constantly probing, testing new techniques of manufacturing and designing to make these valves perform efficiently with greater economy.
Quality
Their advanced international design ensures zero leakage and
maintenance. Commitment to produce the best is backed with sophisticated
equipments, highly skilled technicians, strict material selection, rigid
quality checks and above all, continuous research for improvement and
innovation. Their design features are as follows:
* Mirror image ball for low torque operation
* Secondary metallic seat for fire safe design
* Zero leakage and maintenance
* Anti blow out proof stem design
* Tung and groove design for joints
*
Live
loading design for online replacement of glands.
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 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.39.79 |
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1 |
Rs.81.62 |
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Euro |
1 |
Rs.56.98 |
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 |
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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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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