MIRA
INFORM REPORT
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Report Date : |
14.09.2007 |
IDENTIFICATION DETAILS
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Name : |
SAMARTH TOOLINGS
AND EQUIPMENTS |
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Registered Office : |
S-50, KSSIDC
Industrial Area, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
01.04.1996 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRS22150C |
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PAN No.: [Permanent
Account No.] |
AAXFS9143F |
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Legal Form : |
Partnership
Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
The concern is
presently engaged in the activity of tool and die making with Press tools,
jigs and fixtures, Metal Pallets and Boxes and manufacturing pallets. |
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 10000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a
small concern in its field. Trade relations are fair. Payments are reported
as correct and as commitments. General financial position is satisfactory. The concern can
be considered normal for business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered Office : |
S-50, KSSIDC
Industrial Area, |
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Tel. No.: |
91-836-2330310 |
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Mobile No.: |
91-9448450524 |
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Fax No.: |
91-836-2330310 |
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E-Mail : |
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Website : |
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Area : |
1800 sq. ft. |
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Location : |
Owned |
PARTNERS
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Name : |
Mrs. Anupama
Umrani |
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Designation : |
Main Partner |
KEY EXECUTIVES
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Name : |
Mr. Girish
Kulkarni |
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Designation : |
Chief Executive
Officer |
BUSINESS DETAILS
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Line of Business : |
The concern is
presently engaged in the activity of tool and die making with Press tools, jigs
and fixtures, Metal Pallets and Boxes and manufacturing pallets. |
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Products : |
·
Press
Tools ·
Process
Gauges ·
Pressed
Components ·
Metal
Pallets and Boxes |
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Terms : |
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Selling : |
Credit (30 days) |
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Purchasing : |
Credit (30 days) |
PRODUCTION STATUS
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Particulars |
Unit |
Installed Capacity |
Actual Production |
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Press tools |
Nos. |
6 |
5 |
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Gangs |
Nos. |
25 |
18 |
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Metal Pallets |
Nos. |
200 |
50 |
GENERAL INFORMATION
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Customers : |
OEMs and Others |
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No. of Employees : |
8 |
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Bankers : |
Central Bank of |
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Facilities : |
Credit Limit: Rs.
0.500 Million |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. N. G.
Hiremath Chartered
Accountant |
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Address : |
Hubli |
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Tel. No.: |
91-9448110023 |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.1.000 million |
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Borrowed : |
Rs.1.500 millions |
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Total : |
Rs.2.500 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
3.600 |
2.400 |
1.800 |
Expected Sales (2007-08) : Rs. 4.300 millions
LOCAL AGENCY FURTHER INFORMATION
WEBSITES DETAILS:
Subject was started
in 1996 to serve the growing needs of tool room service in mechanical
engineering field. The company started designing and manufacturing jigs,
fixtures, moulds and press tools for customers around the city. Within a short
span of two years, they have received immense appreciation from the clients
located at distant places. Today, they are recognized as a leading manufacturer
of a wide range of complex press tools and process gauges that are supplied to
various merchant exporters, traders and other enterprises dealing in auto
components.
They are the manufacturers of
the following range of products:
·
Press
Tools
·
Process
Gauges
·
Pressed
Components
·
Metal
Pallets and Boxes
Brief Description of their Products
Process Gauges are
compact and custom made apparatus used in quality assurance activities. The
complicated parameters like symmetry, square, positioning, concentricity and
other can be easily checked by the basic principles of Process Gauge. They
efficiently inspect the auto components in a short time period saving
credible amount of time. In various cases, Process Gauge enable 100 percent
inspection therefore balance the machining time.
Their sophisticated range of press
tools ranging from balancing tools and compound tools to compilation tools are
used in various types of sheet metal components.
Quality
Their products are made from
the best quality raw material and are tested at various stages for their better
and unmatched performance. They implement the international class of quality
standards in a methodical way that governs the entire process from pre
manufacturing stage to the final inspection of the output. The products undergo
several rounds of quality-checks in a stage-wise division of the
manufacturing process. The checks are conducted by the experts who sieve out
all the defects and flaws.
Infrastructure
The Company is run by
experienced tool engineers and operators who efficiently operate the equipped
infrastructure and facilitate manufacturing process with complete ease. Their
infrastructure comprises of high-tech machinery, a congenial work environment
and a dedicated, specialized and experienced work force. They keep investing in
new machines from time to time to update and modernize their production house.
Each of their machines is constantly kept under the observation of the experts
who detect the faults and rectify them in the knowledge of higher authority.
Clients
Thanks to the satisfactory
quality of their products, their list of clients has developed into a long and
healthy one. Some of their major clients are:
·
BDK
Group of companies
·
Spicer
India Limited.
·
Automotive
Axles Limited.
·
Technocrafts
Ind Limited.
They ensure that the highest quality products are delivered to their
clients for their total satisfaction.
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
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.40.44 |
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|
1 |
Rs.82.01 |
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Euro |
1 |
Rs.56.20 |
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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