MIRA
INFORM REPORT
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Report Date : |
30.10.2007 |
IDENTIFICATION DETAILS
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Name : |
SMT MACHINES
PRIVATE LIMITED |
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Registered Office : |
Motia Khanmandi
Gobindgarh, Fatehgarh Sahib, Mandi Gobindgarh – 147301, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
06.09.1994 |
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Com. Reg. No.: |
16-15036 |
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CIN No.: [Company
Identification No.] |
U29199PB1994PTC015036 |
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Legal Form : |
Private Limited Liability
Company |
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Line of Business : |
Manufacturer,
Supplier and Exporter of Rolling Mill Machinery, Rolling Mill Equipment and
Spares |
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 30000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are fair. General financial position is satisfactory. Payments are
reported as slow but correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
Motia Khanmandi
Gobindgarh, Fatehgarh Sahib, Mandi Gobindgarh – 147301, |
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Tel. No.: |
91-1765-557742 |
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E-Mail : |
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Website : |
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Factory 1 : |
Post Box – 71, |
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Tel. No.: |
91-1765-256337/257742 |
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Fax No.: |
91-1765-255199 |
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E-mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Anand Kumar
Jain |
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Designation : |
Director |
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Address : |
New Shastri
Nagar, Mandi Gobindgarh, Fatehgarh Sahib – 147301, |
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Date of Birth/Age : |
12.02.1970 |
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Date of Appointment : |
20.06.2000 |
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Name : |
Ms. Anju Jain |
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Designation : |
Director |
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Address : |
New Shastri
Nagar, Mandi Gobindgarh, Fatehgarh Sahib – 147301, |
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Date of Birth/Age : |
07.02.1971 |
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Date of Appointment : |
20.06.2000 |
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Name : |
Mr. Anan Mittal |
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Designation : |
Director |
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Address : |
Shastri Nagar,
Near |
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Date of Birth/Age : |
12.07.1973 |
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Date of Appointment : |
14.03.2003 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Mr. Aman Mittal |
235250 |
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Mr. Surinder
Kumar Mittal (HUF) |
42500 |
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Ms. Luxmi Mittal |
1750 |
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Mr. Pawan Kumar |
500 |
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Total |
280000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Supplier
and Exporter of Rolling Mill Machinery, Rolling Mill Equipment and
Spares |
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Products : |
v Alligator Shearing Machies v Bloom Cutting v Shearing Machine v Draw Winch or Discharge Roller Conveyor v Reduction Gear Boxes v Pinion Stands v Universal Couplings v Fly Wheels v Lubrication System v Lubrication System v Mill Stands v Pinch Rolls v Double Rod Type Mechanic Pushers v Slitting Lines v
Uncoiler Machine |
GENERAL INFORMATION
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Bankers : |
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Banking Relations : |
-- |
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Auditors : |
Datta Singla
& Company Chartered
Accountants |
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Address: |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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400000 |
Equity Shares |
Rs. 10/- Each |
Rs. 4.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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280000 |
Equity Shares |
Rs. 10/- Each |
Rs. 2.800 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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2.800 |
2.800 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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5.316 |
2.112 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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8.116 |
4.912 |
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LOAN FUNDS |
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1] Secured Loans |
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3.213 |
5.357 |
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2] Unsecured Loans |
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22.625 |
0.000 |
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TOTAL BORROWING |
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25.838 |
5.357 |
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DEFERRED TAX LIABILITIES |
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0.275 |
0.346 |
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TOTAL |
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34.229 |
10.615 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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28.156 |
4.836 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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8.351 |
8.352 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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28.043 |
15.630 |
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Sundry Debtors |
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2.814 |
2.869 |
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Cash & Bank Balances |
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1.706 |
5.908 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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21.460 |
66.430 |
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Total Current Assets |
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54.023 |
90.837 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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54.408 |
92.443 |
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Provisions |
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1.893 |
0.967 |
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Total Current Liabilities |
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56.301 |
93.410 |
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Net Current Assets |
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(2.278) |
(2.573) |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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34.229 |
10.615 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
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Sales Turnover [including other income] |
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35.000 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total
Liability/Networth) |
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10.12 |
20.10 |
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Current Ratio (Current
Asset/Current Liability) |
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0.95 |
0.97 |
LOCAL AGENCY FURTHER INFORMATION
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Name of the company |
SMT
MACHINES PRIVATE LIMITED |
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1) Date and description of instrument creating the change |
11.10.2004 Agreement for grant of MTL Rs. 1.500 Millions |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 1.500 millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Mortgage of Industrial and Building and Plant & Machinery |
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4) Gist of the terms and conditions and extent and operation of the charge. |
ROI – 12.25% |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of |
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6) Date and brief description of instrument modifying the charge |
Not Applicable |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
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Name of the company |
SMT
MACHINES PRIVATE LIMITED |
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1) Date and description of instrument creating the change |
29.03.2004 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 5.000 millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of properly of company, hypothecation raw material, finished goods, semi finished goods. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
ROI – 11% Margin – 25% |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of |
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6) Date and brief description of instrument modifying the charge |
Not Applicable |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
As per
Website Details
Machines Private Limited., an ISO 9001:2000 Certified Company, is a leading manufacturer, supplier and exporter of Rolling Mill machinery, Rolling Mill equipment and spares. The company manufactures all types of Castings & Forging Items, Rolling Mill plants, Engineering Goods and various other accessories. It also serves as manufacturers, suppliers and exporters of many more items that are manufactured on a Tailor made basis.
SMT is an organized and well equipped Mechanical Engineering
company, situated on the
The company's range of products is exhaustive and you get the entire requirement of Rolling Mill Plant equipment, machinery and spares from a single source. Its products are as under:
Rolling Mills: Complete Steel Rolling Plants, (6" to 30") for the Rolling of Wire Rods/ TMT/ Light Medium Heavy sections steel. Up to 50 MT per hour production of ferrous and non ferrous metals.
Fly Wheels: C.I.M.S. Casting Flywheel up to 20 MT.
Couplings: Universal/ Geared/ Flange/ Flexo/ Wobbler/ Cross Type
Couplings.
Twisting Machines: Twisting machines up to 56mm, Twisting Heads/ Jaws/
Bits & spares.
Pulleys: Flat & V-Belt Pulleys up to 3000mm dia/30 grooves.
Straightening Machines: Straightening M/Cs for Light/ Medium/ Heavy
sections/ structural steel.
Decoilers: High speed Automatic Decoiling Straightening & Cutting
machines for TMT/ Ribbed Bar/ Plain Bar coil weight up to 1500 kg.
Shearing Machines: Billet/Bloom Shearing machines up to 250 mm Concast/
Rolled/ M.S./ S.S./ Carbon Steel etc. & for Plate/ Girder/ Channel Rail/
Angle. Capacity: 75 mm.
Flying Shears, Rotary Shears: (Swivel Type & Fix Type)
Hot & Cold Crop end Cutting Shearing: Machines up to 3'
Plate Cutting Machines: for 2000 mm wide x 25 mm thick plate.
Repeaters: Along with standard accessories as snap shears and spares.
Mechanical Power Presses: From 2 MT to 200 MT
Eot Cranes & Electric Hoist: Up to 50 MT, Material Handling
equipment. Roller/ Tansfer/ Tilting/
Single Stage & Multi Stage Gear Boxes: Up to 5000 H.P.
Pinion Stands/ Speed Increaser-Cum-Pinion Gear Box: Up to 30" PCD.
Spur, Single/ Double Helical Gears: Up to 2000 mm dia. 5000 H.P.
Complete
Cold Profile Machines: For Shutter, Angle, Window & special
sections.
Workshop Machinery: Lathes, Shapers, Radial Drills, Planners, Grinders
etc.
Steel Scrap Chip Recovery System: To recover 10-14% Steel Chips from
Induction Furnace/ Arc Furnace Slag and Waste powder to be sold to Cement
plants.
The company has a good number of customers, both in the domestic and international markets. Its present list of Indian and foreign customers keeps on expanding day by day. The export orders are being executed according to international standards under Third Party Inspection.
The workforce at SMT is committed to produce quality products and the company follows a strict quality schedule, which has proved fruitful in the form of a list of valuable customers that are spread all across the world.
Profile
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Business Type |
Exporter , Manufacturer |
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Primary Competitive Advantages |
SMT Machines Private Limited., is an ISO 9001:2000 Certified Company. Providing Consultancy, Design & Development, Inspection & Quality Control, Efficient After Sales Services and Emergency Services, the company is a single source for all the needs. |
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Memberships |
Engineering Export Promotion Council, EEPC andFederation of Indian Export Organisations, FIEO. |
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Credit Rated |
No |
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The company's range of products is exhaustive and you get the entire requirement of Rolling Mill Plant equipment, machinery and spares from a single source. |
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. 39.38 |
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1 |
Rs. 80.96 |
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Euro |
1 |
Rs. 56.81 |
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 |
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. |
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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