MIRA
INFORM REPORT
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Report Date : |
31.10.2007 |
IDENTIFICATION
DETAILS
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Name : |
HIM INSTRUMENTS WORKS |
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Registered Office : |
Plot No. 99, Pocket-O, Sector – 3, Bawana Industrial Area, Delhi – 110
039 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1985 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers and Exporters of Vibrating Machines, Oil / Water Lateral
Pressure Assemblies, Moisture Meters, Cube Testing Machines ( Electric cum
Hand Operated ), Standard Cone Penetro Meters with Digital Timer. |
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 4000 |
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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 small concern having satisfactory track. Trade relations
are fair. Payments are usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. Nothing adverse reported. |
LOCATIONS
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Registered Office : |
Plot No. 99, Pocket-O, Sector – 3, Bawana Industrial Area, Delhi – 110
039, India |
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Tel. No.: |
91-11-25875624 |
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Mobile No.: |
91-9910228161 / 91-9313852908 / 91-9910884958 / 91-9818494247 |
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Fax No.: |
91-11-25875624 |
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E-Mail : |
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Website : |
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Area : |
90 sq. mts. |
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Location : |
Owned |
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Head Office : |
T – 95, Punjabi Basti, Baljit Nagar, New Delhi |
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Tel. No.: |
91-11-25875624 |
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Fax No.: |
91-11-25875624 |
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Area : |
70 sq. mts. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Ram Krishan Dhiman |
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Designation : |
Proprietor |
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Address : |
T – 95, Punjabi Basti, Baljit Nagar, New Delhi |
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Date of Birth/Age : |
60 years |
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Qualification : |
Graduate |
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Experience : |
37 years |
KEY EXECUTIVES
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Name : |
Mr. Jitender Kumar Dhiman |
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Designation : |
Chief Executive Officer |
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Address : |
T – 95, Punjabi Basti, Baljit Nagar, New Delhi |
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Date of Birth/Age : |
30 years |
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Qualification : |
Graduate |
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Experience : |
8 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Vibrating Machines, Oil / Water Lateral
Pressure Assemblies, Moisture Meters, Cube Testing Machines ( Electric cum
Hand Operated ), Standard Cone Penetro Meters with Digital Timer. |
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Products : |
v
Vibrating Machines v
Oil / Water Lateral Pressure
Assemblies v
Moisture Meters v
Cube Testing Machines (
Electric cum Hand Operated ) v
Standard Cone Penetro Meters
with Digital Timer. |
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Terms : |
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Selling : |
Cash or Credit |
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Purchasing : |
Cash or Credit |
PRODUCTION STATUS
Capacity to
increase production by : 50%
GENERAL
INFORMATION
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Suppliers : |
Own Manufacturing, Purchase of raw material from open market |
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Customers : |
v Continental
Scientific, East Patel Nagar, New Delhi v Rajco Scientific,
Tilak Nagar, New Delhi |
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No. of Employees : |
10 |
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Bankers : |
v Bank of
Maharashtra,
East Patel Nagar, New Delhi, India v Kangra
Co-Operative Bank Limited
Paharganj, New Delhi – 110 055, India |
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Banking Relations
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Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.000 Million |
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Borrowed : |
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Total : |
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 |
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5.000 |
4.000 |
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Profit/Loss for the year |
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12% |
12% |
Expected Sales (2007-08) : Rs. 7.500 Millions
LOCAL AGENCY
FURTHER INFORMATION
WEBSITE DETAILS
ATTACHED:
A leading concern catering to the needs of construction industry with premium quality soil, concrete and aggregate instruments...
About Them
India's infrastructure has been growing at an accelerating pace to support the high economic growth rate. This need for infrastructure development has increased the demand of the construction equipments as well. The Indian construction industry is very large and is important to various sectors of the economy. Subject, since its establishment in 1985, has been serving the country in building a strong infrastructure with excellent quality construction equipments. They are a leading manufacturer and supplier of Soil, Concrete and Aggregate Instruments, etc.
They consider quality as one of the principal strategic objectives to guarantee their growth and leadership in the market. The subject is committed to respond creatively and competitively to the changing needs and aspirations of the construction industry through relentless pursuit of technological excellence, innovation and quality management across our businesses, and offer superior quality products and services that are appropriate to the various price points in the market. They have a wide customer base spread across the country.
Product Range
Subject is a distinguished manufacturer and supplier of the following Soil, Concrete and Aggregate Instruments:-
v Vibrating Machines
v Oil/Water Lateral Pressure Assemblies
v Moisture Meters
v Cube Testing Machines (Electric cum Hand
Operated)
v Standard Cone Penetro Meters with Digital Timer.
Product Application
Their machinery play a pivotal role for the development of infrastructure and manufacturing industries. The importance of their machinery lies in their applications. They are widely used in both small and big industries and also for the construction, development and maintenance of big infrastructures.
Quality Assurance
Subject is a holistic enterprise with a wide quality approach which integrates multiple quality processes. Their processes are structured for quality - the process documentation and consulting tools ensure that they have everything on record and the automation tools automate the complete product management or engineering process. The tools that they possess build the necessary quality orientation and their visibility tools help monitor projects on a real-time basis and ensure that the customer is never out of touch. They procure premium quality raw materials such as steel, brass, stainless steel, aluminium and other metals and plastics from well known and highly reliable vendors.
Infrastructure
They owe their phenomenal growth to the use of hi-tech infrastructure.
Subject’s production unit is replete of state-of-the-art machinery, which has
been enabling them to maintain the highest standards of quality and excellent
production values. The workforce comprises of highly qualified engineers and
dedicated workers. They firmly believe in constant upgradation of the machines
in accordance with the changing needs of the industry. They have a vast
Research and Development unit, which is constantly working in order to enhance
the superiority of their range of products to the maximum level.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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. 39.40 |
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UK Pound |
1 |
Rs. 81.12 |
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Euro |
1 |
Rs. 56.69 |
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 |
NO |
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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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