MIRA
INFORM REPORT
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Report Date : |
27.10.2007 |
IDENTIFICATION DETAILS
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Name : |
VISHKARMA MACHINE TOOLS |
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Registered Office : |
A-6, Mayapuri Industrial Area, Phase-2, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1960 |
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TAN No.: [Tax Deduction & Collection Account No.] |
DELV07376F |
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PAN No.: [Permanent Account No.] |
AAAFV2773M |
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Legal Form : |
Partnership Concern with an unlimited liability of the
partners. |
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Line of Business : |
Manufacturers and Exporters of Heavy Duty Cargo moving Truck Trailers. |
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 14000 |
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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 businessmen. Their
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 : |
A-6, Mayapuri Industrial Area, Phase-2, |
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Tel. No.: |
91-11-41845097-98 / 28113815 / 28116815 |
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Mobile No.: |
91-9810616183 |
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Fax No.: |
91-11-41845097 |
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E-Mail : |
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Area : |
900 sq. mt. |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Gurvinder Singh |
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Designation : |
Chief Executive Officer |
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Date of Birth/Age : |
40 years |
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Qualification : |
Graduate |
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Experience : |
18 years |
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Name : |
Mr. Jasvinder Singh |
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Designation : |
Chairman |
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Date of Birth/Age : |
62 years |
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Qualification : |
Graduate |
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Experience : |
38 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Heavy Duty Cargo moving Truck Trailers. |
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Products : |
v
Car Carrying Trailers v
Heavy Duty Trailers v
Truck Trailers for Odd Size Heavy Duty Cargo v
Aircraft Refuellers and Defuellers v
Hydraulic Type Trailers Modules in 4, 6, 8, 10
axles. |
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Exports : |
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Products : |
v
Car Carrying Trailers v
Heavy Duty Trailers v
Truck Trailers for Odd Size Heavy Duty Cargo v
Aircraft Refuellers and Defuellers v
Hydraulic Type Trailers Modules in 4, 6, 8, 10
axles. |
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Countries : |
African and Asian Countries |
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Terms : |
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Selling : |
L/C, Cash or Credit |
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Purchasing : |
Cash or Credit |
PRODUCTION STATUS
Capacity to increase production by : 30%
GENERAL INFORMATION
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Suppliers : |
Own Manufacturing |
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Customers : |
v
Authorized distributors of Tata Motors products
like Axles
( v
Ministry of Defence, v
Indian Air Force, v
Army Head Quarter, v
Field Gun Factory, v
Bharat Heavy Electrics Limited ( Haridwar ) v
Canadian Embassy, v
Jaiprakash Industries Limited, v
Kataria Transport Service, |
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No. of Employees : |
50 |
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Bankers : |
State Bank of |
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Facilities : |
Yes |
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Banking
Relations : |
Satisfactory |
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Memberships : |
SSI and NSIC |
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Associates/Subsidiaries : |
B |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 3.500 Millions |
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Borrowed : |
- |
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Total : |
Rs. 3.500 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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25.000 |
23.000 |
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Profit/Loss for the year |
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12% |
12% |
Expected Sales (2007-08) : Rs.30.000 Millions
LOCAL AGENCY FURTHER INFORMATION
WEBSITE DETAILS
ATTACHED:
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Home Page |
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Contour
Product range They are
manufacturers and exporters of:
v
Car Carrying Trailers v
Heavy Duty Trailers v
Truck Trailers for Odd Size Heavy Duty Cargo v
Aircraft Refuellers and Defuellers v
Hydraulic Type Trailers Modules in 4, 6, 8,
10 axles. Quality &
Infrastructure Their products are designed by qualified and experienced mechanical engineers and stringent quality control procedure ensures that no product hits the market, without proper testings. Until and unless our quality test managers are satisfied by the performance, the products are not despatched. The huge and well-equipped infrastructure facility ensures flawless performance and results in timely completion of orders. They have a very strong infrastructure base with factory units having each and every facility. Their units are fully-equipped with latest welding machines of various types. Various machining and material handling facilities have been created to make ourselves self-sufficient. They also cater to the servicing and repairing needs of our customer's trailers. Specialization
Special Attributes v Solid & successful stay of 25 years in Truck Trailers manufacturing industry and transport industry v A number of leading transporters keep on giving repeat orders for truck trailers as a matter of routine v They are proud to be directly associated with The Republic Day celebrations where their Truck Trailers have carried pageants both of defence & civil wings v Most reliable, powerful leaf springs provide the mechanical suspensions. They also employ bellows suspensions and Hydraulic Suspensions as required by Their customers. Their Clients v They are Authorized distributors of Tata Motors products like Axles (Gujarat & Rajasthan) v
Ministry
of Defence, v
Indian
Air Force, v
Army
Head Quarter, v
Field
Gun Factory, v Bharat Heavy Electrics Ltd. (Haridwar) v
Canadian
Embassy, v
Jaiprakash
Industries Ltd., v
Kataria
Transport Service, |
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 |
8 |
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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 |
6 |
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--LEVERAGE |
1~10 |
6 |
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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 |
YES |
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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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50 |
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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