MIRA
INFORM REPORT
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Report Date : |
29.10.2007 |
IDENTIFICATION DETAILS
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Name : |
DELVAC PUMPS PRIVATE LIMITED |
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Registered Office : |
AC17A, SIDCO Industrial Estate , Thirumudivakkam, Chennai – 600 044,
Tamilnadu |
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Country : |
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Date of Incorporation : |
20.06.1995 |
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Com. Reg. No.: |
18-31914 |
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CIN No.: [Company
Identification No.] |
U93090TN1995PTC031914 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHED02062E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers of Vacuum Pumps, Vacuum Systems and Lyophilizer or
Freeze Dryers. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
-- |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject seems to be a relatively small company. Company has not filed any
financials with the Government Registry so far. Directors are reported as
experienced and respectable businessmen. Trade relations are reported as
fair. Payments are reported as slow but correct. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
LOCATIONS
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Registered Office / Factory : |
AC17A, SIDCO Industrial Estate , Thirumudivakkam, Chennai – 600 044, |
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Tel. No.: |
91-44-2478 3265, 24783266 |
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Fax No.: |
91-44 – 2478 3265 |
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E-Mail : |
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Website : |
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Area : |
3300 sq. ft. [Owned] |
DIRECTORS
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Name : |
Mr. M. Venkataraman |
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Designation : |
Director |
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Date of Birth/Age : |
47 Years |
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Qualification : |
Post Graduate from |
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Name : |
Mr. T. J. Balaraman |
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Designation : |
Director |
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Date of Birth/Age : |
49 Years |
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Qualification : |
Graduate in Mechanical
Engineering |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Vacuum Pumps, Vacuum Systems and Lyophilizer or
Freeze Dryers. |
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Products : |
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Exports : |
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Countries : |
France [CRIO NEX] |
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Imports : |
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Products : |
Vacuum Pumps |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash, Credit and T/T |
GENERAL INFORMATION
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Customers : |
R & D Organizations Pharmaceuticals and Bio – Technology and
Educational Institution |
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No. of Employees : |
15 |
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Bankers : |
Syndicate Bank Koddambakam Branch, Chennai |
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Facilities : |
Secured OD : Rs. 2.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Ram and Company Chartered Accountants |
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Address : |
Chennai, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 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 [Approximately] |
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5.000 |
4.500 |
Expected Sales (2007-08) : Around Rs.8.500 – 9.000 Millions
LOCAL AGENCY FURTHER INFORMATION
Trade Reference
- Orchid Pharmaceuticals and Chemicals
As Per Website
DELVAC - The name that is inevitable, whenever
quality High Vacuum Pumps and systems are thought of. Established in 1995 by a
team of professional Engineers with profound expertise in the field of
mechanical design, manufacture and servicing.
When used independently or in combination with Diffusion pump, Oil
ejector pumps or booster pumps DELVAC
pumps can be used in applications such as:
- Freeze Drying
- Vacuum
Metallurgy
- Vacuum
Impregnation
- Vacuum
Sublimation
- Packaging
- Bottle
Filling
- Filament Bulb
- Refrigeration
- Distillation
- Dehydration
- Filtration
- Thin Film
Coating
Subject are problem solvers. Their years of knowledge
and experience enable them to select the right vacuum equipment, at the right
price for the job. They solicit the patronage, promising you the best quality
of service. Their mission is to manufacture equipment that satisfies the
customers requirement. They strive hard to uphold their mission.
They supply vacuum pumps and equipment Industries, Research Institutes,
Universities and other establishments.
PARTIAL LIST of users of their vaccum pumps are given below
- Orchid
Chemicals & Pharmaceuticals, Chennai
- SPIC
Pharmaceuticals, Chennai
- Biological
Evans,
- IICT,
- Department of
Atomic Energy, Kalpakkam
- Heavy
Vehicles Factory, Chennai
- ICF Integral
Coach Factory, Chennai
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.39.51 |
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1 |
Rs.81.16 |
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Euro |
1 |
Rs.56.76 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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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32 |
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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