MIRA INFORM REPORT

 

 

Report Date :

08.09.2007

 

IDENTIFICATION DETAILS

 

Name :

GUJARAT FABRICATORS

 

 

Registered Office :

Plot 177 / 178, Phase – II, GIDC Estate, Vatva, Ahmedabad 382 445, Gujarat

 

 

Country :

India

 

 

Financials (as on) :

31.03.2007

 

 

Date of Incorporation :

1976

IEC No.:

 

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

AHMG00917A

 

 

PAN No.:

[Permanent Account No.]

AAAFG5678E

 

 

Legal Form :

Partnership Concern with an Unlimited Liability of the Partners.

 

 

Line of Business :

Manufacturer and Exporters of Vial Line, Bottle Line, I V Line, Ampoule Line and complete Food and Pharma Packaging Machinery.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 20000

 

 

Status :

Small Concern

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a small fabricator. Trade relations are fair. Payments are usually correct and as per commitments.

The company can be considered for small to mediocre business dealings at usual trade terms and conditions.

 

 

LOCATIONS

 

Registered Office / Factory:

Plot 177 / 178, Phase – II, GIDC Estate, Vatva, Ahmedabad 382 445, Gujarat, India

Tel. No.:

91-79-25830464 / 25895128

Mobile No.:

91-9328023282 / 91-9327065106

Fax No.:

91-79-25830545

E-Mail :

info@gujfab.com

Website :

www.gujfab.com

Area :

2000 sq. fts.

Location :

Owned

 

 

USA Office:

2403, Harbor Chase Drive, Pearland, Texas – 77584

Tel. No.:

+1- 216 - 849 - 7786, +1- 713 - 436 – 6586

Fax No.:

+1-713 - 436 - 6586

 

 

PARTNERS

 

Name :

Mr. Rasaq Memon

Designation :

Partner

Date of Birth/Age :

58 Years

 

 

Name :

Mr. Naresh Patel

Designation :

Partner

Date of Birth/Age :

38 Years

 

 

Name :

Mr. J J Shah

Designation :

Partner

Date of Birth/Age :

45 Years

 

 

Name :

Mr. Dhaval Shah

Designation :

Partner

Date of Birth/Age :

45 Years

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporters of Vial Line, Bottle Line, I V Line, Ampoule Line and complete Food and Pharma Packaging Machinery.

 

 

Products :

Ø       Vial Line (Range- 2 to 30 ml. vials; output speed up to 150 VPM/7000 vials/hr.)

Ø       Bottle Line (Range- 2 to 10 ml. 10 to 30 ml. output speed up to 7000 bottles/hr.)

Ø       I.V. Line (Range- 100 ml./500 ml./1000 ml. F.F.S. (I.V. fluid bottles.); output speed up to 9000 bottles/hr.)

Ø       Ampoule Line (Range- 2 to 10 ml., 10 to 30 ml.; output speed up to 7000 bottles/hr.) and Complete (Pharma Food) Packaging Machinery

 

 

Exports :

 

Products :

Ø       Vial Line (Range- 2 to 30 ml. vials; output speed up to 150 VPM/7000 vials/hr.)

Ø       Bottle Line (Range- 2 to 10 ml. 10 to 30 ml. output speed up to 7000 bottles/hr.)

Ø       I.V. Line (Range- 100 ml./500 ml./1000 ml. F.F.S. (I.V. fluid bottles.); output speed up to 9000 bottles/hr.)

Ø       Ampoule Line (Range- 2 to 10 ml., 10 to 30 ml.; output speed up to 7000 bottles/hr.) and Complete (Pharma Food) Packaging Machinery

        Countries :

South Africa, Middle East, Europe, Latin America and Worldwide

 

 

Terms :

 

Selling :

L/C / Cash / Credit (30 dyas)

 

 

Purchasing :

Cash / Credit (90 – 120 days)

 

 

GENERAL INFORMATION

 

Customers :

Manufacturing Industries

 

 

No. of Employees :

15

 

 

Bankers :

Bank of India, Vatva Branch

 

 

Facilities :

L/C Limit, C/C and Overdraft Limit

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Annapurna

Chartered Accountants

Mobile No.:

91-9825015548

 

 

Associates/Subsidiaries :

Name of the Company: S S P M

Address: Plot 177 / 178, Phase – II, GIDC Estate, Vatva, Ahmedabad 382 445, Gujarat, India

Line of Business: Manufacturer and Exporters of Vial Line, Bottle Line, I V Line, Ampoule Line and complete Food and Pharma Packaging Machinery.

 

 

CAPITAL STRUCTURE

 

 

Capital Investment :

 

Owned :

Rs. 5.000 millions

Borrowed :

--

Total :

Rs. 5.000 millions

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

 

31.03.2007

31.03.2006

Sales Turnover

 

1.500

1.000 – 1.200

 

Expected Sales (2008) : Around Rs. 2.000 Millions

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Trade References:

 

Ø       Troikaa Pharma, Ahmedabad

Ø       Teal Plast, Mumbai

Ø       Stanmark Pharma

 

As Per Web Details:

Offering customized solutions to industrial players in the area of pharmaceutical and food products packaging, sealing, and labeling.


Company Profile

 

"Innovative solutions lead to an improved productivity". Every company thrives on the effort of developing and creating innovative ideas for success. One such company that has mastered the art of delivering innovative solutions is subject. Their company, established in 1976, is a high technology fabrication solution provider of "job shop" in India. They are engaged in continuous innovative technological changes with productive re-engineering to meet the local challenges of global quality standards. As a distinguished manufacturer, exporter and supplier, they provide customized solutions with specialization in the domain of pharmaceutical and food products packaging & labeling.


Subject recognizes the significance for global competition and with a dedicated passion for it, the company indulges in supplying (domestically) & exporting its key products for washing, filling & sealing, inspection, and labeling purposes. Their future plans are related to the company's expansion on a worldwide basis. Currently, their major exports markets are in Africa, Middle East, Latin America and Europe. Some of the major brands are the part of their huge client base including Troika Pharma Ltd., Sanzi Pharma and the like.

 

 

Their Products

 

Subject has specialization in providing innovative solutions for the pharmaceutical and food industry with high quality washing, filling, sealing, inspection, and labeling machines. These machines are sub-divided into the following categories:

 

Ø         Vial Line (Range- 2 to 30 ml. vials; output speed up to 150 VPM/7000 vials/hr.)

Ø         Bottle Line (Range- 2 to 10 ml., 10 to 30 ml.; output speed up to 7000 bottles/hr.)

Ø         I.V. Line (Range- 100 ml./500 ml./1000 ml. F.F.S. (I.V. fluid bottles.); output speed up to 9000 bottles/hr.)

Ø       Ampoule Line (Range- 2 to 10 ml., 10 to 30 ml.; output speed up to 7000 bottles/hr.).

 

 

Quality Assurance

 

Understanding "Quality" as "Customer Satisfaction", the company thrives on fast service, affordable rates and superior quality. For products relating to pharmaceutical and food products labeling and packaging purposes, they sustain their performance by assessing quality standards in the domestic as well as global market. Being a stalwart in the industry for almost three decades, subject has not only proven its potential to provide the premiere quality with respect to world class standards but has also set benchmarks for others to follow.

 

 

Company Infrastructure

 

Subject' infrastructure can be segregated into following segments-

 

Ø         In-house equipment and machinery

Ø         Heavy duty pre-pinch type plate bending machine-12 mm. x 2500 mm. capacity

Ø         Hydraulic press brake 5 mm. x 1800 mm. capacity

Ø         Oxy-acetylene hand gas cutting and automatic gas cutting set

Ø         Hand shearing machine

Ø         Hydraulic shearing machine -6 mm. x 2500 mm. capacity, etc.

Ø         Machine shop equipment

Ø         Radial drilling machines-HMT make-50 mm. capacity

Ø         Lathe machines

Ø         Power hacksaw

Ø         Air compressors of different capacity

Ø         Hand drill machine

Ø         Milling machine, etc.

Ø         Seven tank process and painting facility.

 

 

Resources

 

Ø         Central Sever system with integrated computer system architecture for uniformity of data storage and access

Ø         Fully Computerized Design Department with ultra modern facility like Computers, CAD/CAM Design Software

Ø         In-house Product Development Centre with specialized dedicated task force

Ø         In-house Automation Department focus on pharmaceutical development and product development in compliance with current pharmaceutical practices

Ø       Mechanical Design Department, etc.

 



 

 

 

 

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 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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.40.71

UK Pound

1

Rs.82.26

Euro

1

Rs.55.66

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILIRY

1~10

4

--LIQUIDITY

1~10

4

--LEVERAGE

1~10

4

--RESERVES

1~10

4

--CREDIT LINES

1~10

4

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

37

 

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

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions