MIRA
INFORM REPORT
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Report Date : |
18.09.2007 |
IDENTIFICATION DETAILS
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Name : |
YASH DEEP AUTOMOTIVE INDUSTRIES |
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Registered Office : |
Plot No. 4, Industrial Area, NIT, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1996 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RTKY00097G |
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PAN No.: [Permanent
Account No.] |
AAAFY0653K |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the partners. |
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Line of Business : |
Manufacturer, Trader, Exporters and Importer of Precision Auto Parts |
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 12000 |
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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.
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/Factory : |
Plot No. 4, Industrial Area, NIT, |
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Tel. No.: |
91-129-4021403 / 406 |
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Mobile No.: |
91-9818998267 |
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Fax No.: |
91-129-4021405 |
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E-Mail : |
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Website : |
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Area : |
500sq.mtrs (Office) 2000sq.mtrs (Factory) |
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Location : |
Owned (Office and Factory) |
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PARTNERS
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Name : |
Mrs. Rashmi Wadhera |
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Designation : |
Partner |
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Address : |
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Date of Birth/Age : |
52 years |
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Qualification : |
Graduate |
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Experience : |
27 years |
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Name : |
Mr. |
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Designation : |
Partner |
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Address : |
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Date of Birth/Age : |
64 years |
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Qualification : |
Graduate |
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Experience : |
34 years |
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BUSINESS DETAILS
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Line of Business : |
Manufacturer, Trader, Exporters and Importer of Precision Auto Parts |
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Exports : |
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Products : |
Precision Auto Parts |
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Countries : |
Europe, |
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Imports : |
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Products : |
Machinery |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit (30 days) |
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Purchasing : |
L/C, Cash, Credit (30 days) and Sight Against Documents |
GENERAL INFORMATION
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Customers : |
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Local and Foreigners ³
Retailers ³
End Users ³ FCC Rico
Limited, Manesar – Gurgaon ³ Venus Industrial
Corporation Private Limited, ³ ANG Auto Limited,
Greater Noida ³ Mita Harig India
Limited, ³ Aimil Limited, ³ T.S. Kissan
& Co. Private Limited, ³ Victora Tools
Private Limited, ³ Boney Polymer
Private Limited, ³ Bharat Gears
Limited, ³ Indian Defence,
Kolkata ³ Ankur Lightning,
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No. of Employees : |
64 (6 Office, 58 Factory) |
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Bankers : |
Syndicate Bank Ballabhgarh |
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Facilities : |
Rs.1.000 million |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Gopal Mathur and Company Chartered Accountants |
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Address : |
Nehru Ground, |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.3.000 millions |
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Borrowed : |
-- |
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Total : |
Rs.3.000 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 |
20.000 |
19.500 |
19.300 |
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Profit/Loss for the year |
0.520 |
0.450 |
0.367 |
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LOCAL AGENCY FURTHER INFORMATION
Trade References:
³
As per Web Details
Company Profile:
Subject came into existence for catering to the needs of growing
Automobile Industry but they take pride in saying that with the passage of time
through their sheer hard work and determination they have been able to expand
their customer base, by adding valuable customers in Domestic and in
International market.
They as a company stand committed to assure reliability and quality standard in
their products.
Their Products are made to go through ISO
9001:2000 quality standards to assure quality and stability.
They believe that if they have to define their place in future, they should continuosly
improve and update the standards laid down by them and for this they stand
committed to put in all the necessary efforts
Subject was started in 1996 with a realistic vision to manufacture
Precision CNC Turned Components with highest degree of Quality, Reliability,
Technology and Customer satisfaction with just one CNC Turning Lathe. In the
first year itself Subject became the vendor of India Forge Limited (a major
supplier of Maruti Udyog Limited and Mahindra & Mahindra) for CNC Turned wheel
hubs.
From the day of commencement, Subject has come a long way understanding
manufacturing technologies in the Automotive Industry.
They have over the years added Ten CNC Turning Centers, 4 Axis Vertical
Machining Center and almost all conventional machinery for Auxiliary
Operations, along with all these machines they have added quality control
equiments like hardness tester, surface tester, Universal Testing Machine and
Cad Cam facilities to support their bulk production.
Resources and
Manufacturing Capabilities
Their Production and Engineering experts get
engaged in the product development process to the extent that their customers
are partially satisfied even before the product is developed.
Subject has a highly integrated manufacturing system that covers whole range of
operations from planning and design to final production so as to provide
"Total Satisfaction".
Their facilities include innumerable in house facilities ranging from general
purpose conventional machines to specialized CNC Machines, which are fine tuned
to meet the diverse requirements of their customers.
Their products range from Precision Automotive Components like, Two Wheeler
Clutch Parts, Car Wheel Hubs, Car Door Hinges, Hydraulic Lifts and Gear Parts,
Steering and Suspension Components to Fancy Fittings like Curtain Fittings,
Light Accessories.
Quality Assurance
All their products conform to the Standards
and Specifications given by their customers. However, Yash Deep Quality
Management system standard is reflected by its ongoing commitments to total
quality, its resources, training and by its work force.
Their unit have been certified for
ISO 9001:2000
Quality Management system by
Det Norske Veritas (DNV) - Certificate
No.00774-2003-AQ-NDE-NABCB
Quality Policy
They are committed to manufacture & supply quality products as per customer
and market requirements for their satisfaction. They will strive to continually
improve the effectiveness of the established quality management system.
Quality Objectives
To reduce rejection levels at all stages.
To continuously monitor supply of right goods at right time.
What a Customer means to them?
A customer is the most important visitor at their premises.
He is not dependent on them, they are dependent on him.
He is not interruption on their work; he is the purpose of it.
He is not an outsider for them; he is a part of them.
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.40.47 |
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1 |
Rs.81.07 |
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Euro |
1 |
Rs.56.17 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
YES |
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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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