MIRA
INFORM REPORT
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Report Date : |
24.09.2007 |
IDENTIFICATION DETAILS
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Name : |
NAVBHARAT MOTOR MANUFACTURING COMPANY |
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Registered Office : |
Unit No. 303 / 204, 3rd Floor, Kapadia Industrial Estate,
No.3, A.K Road, Chakala, Andheri (East), Mumbai – 400 093, Maharashtra |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1987 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMN08182G |
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PAN No.: [Permanent
Account No.] |
AACFN3128J |
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Legal Form : |
Partnership concern with an Unlimited Liability of the partners. |
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Line of Business : |
Manufacturer of Standard Motor (Single
Phase / Three Phase), Gear Motor, Break Motor, Hoist and Crane Duty Motor,
Double Speed Motor, Special Motor |
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 20000 |
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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 tracks. 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 bu8siness dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
Unit No. 303 / 204, 3rd Floor, Kapadia Industrial Estate, No.3,
A.K Road, Chakala, Andheri (East), Mumbai – 400 093, Maharashtra, India |
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Tel. No.: |
91-22-28346934 / 28378611 |
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Mobil No: |
91-9820427220 |
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Fax No.: |
91-22-28378612 |
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E-Mail : |
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Website : |
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Area : |
610 sq.fts |
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Location : |
Owned |
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Factory: |
Unit No.204 and 201, 3rd Floor, Kapadia Industrial Estate,
No.3, |
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Area : |
900 sq.fts |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Talak shah |
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Designation : |
Partner |
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Date of Birth/Age : |
54 Years |
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Qualification : |
B.E |
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Name : |
Mr. A V Chaine |
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Designation : |
Partner |
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Date of Birth/Age : |
64 Years |
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Qualification : |
B.E |
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Name : |
Mr. U N Misri |
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Designation : |
Partner |
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Date of Birth/Age : |
48 Years |
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Qualification : |
Diploma |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Standard Motor (Single
Phase / Three Phase), Gear Motor, Break Motor, Hoist and Crane Duty Motor,
Double Speed Motor, Special Motor |
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Products : |
·
Standard
Motor (Single Phase/Three Phase) ·
Gear
Motor, Break Motor ·
Hoist
and Crane Duty Motor ·
Double
Speed Motor ·
Special
Motor |
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Terms : |
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Selling : |
Cash, Credit ( 60 - 90 Days) |
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Purchasing : |
Cash, Credit (30 – 90 Days) |
GENERAL INFORMATION
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Customers : |
OEM’s |
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No. of Employees : |
25 |
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Bankers : |
State Bank of Address: Marol Branch |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Bipin Karani Chartered Accountants |
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Address : |
Dadar, Mumbai |
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Tel. No.: |
91–22- 24327652 |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.5.000 millions |
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Borrowed : |
-- |
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Total : |
Rs.5.000 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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20.000 |
15.000 |
Expected Sales (2007-08) : Rs. 40.000 millions.
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCE:
·
Acme Vac Pumps Private Limited, Mumbai
·
Atlas Machine Tools, Mumbai
·
S. Machine Tools, Mumbai
WEBSITES DETAILS:
Subject has established itself as a distinguished player in the field of Motors
and are recognized as a leading manufacturer, exporter and supplier of Standard
Motor, (Single Phase/Three Phase), Gear Motor, Break Motor, Hoist and Crane
Duty Motor, Double Speed Motor and Special Motor as per mechanical and
electrical features. They have developed cutting edge technology used in
manufacturing various kinds of Motors to cater to the needs of various
industries at the leading prices. They aim to bring perfection by a continuous
technological renewal and upgrading the quality standards, keeping in mind the
international benchmarks.
They are the
manufacturer, exporter and supplier of the following range of products:
·
Standard
Motor (Single Phase/Three Phase)
·
Gear
Motor, Break Motor
·
Hoist
and Crane Duty Motor
·
Double
Speed Motor
·
Special
Motor
Objective
They aim at
exploring new ideas and attempting innovative products through streamlined team
work and development process.
Quality
They have a team of experienced
professionals with years of experience in manufacturing motor parts. Only
quality raw materials and accessories are used in developing their products.
The products are subjected to comprehensive range of quality control procedures
to ensure their performance before they are dispatched to their customers.
Infrastructure
They own a comprehensive
state-of-the-art manufacturing, inspection and testing facilities operated by a
highly qualified and experienced professionals heading respective departments.
The staff members and workforce are systematically trained to elevate quality
consciousness and professional attitudes in every aspect of company's
activities.
Customer Satisfaction
They believe that
customers are the essence of their existence and their satisfaction is of great
importance for them. They offer their customers the highest quality products
and reliable technical services, at the most competitive rates.
SPECIAL APPLICATION
MOTORS
* Motors for Intermittent Duty and Hoist / Crane Duty.
*
Motors with Electromagnetic Disc Brake.
* Motors for heavy switching / reversing
duties.
* Torque - rated motors, for Winders and
Prolonged Stalling Duty.
* Textile and Loom motors.
* Motors for Machine Tools.
* Motors for Cooling Towers
SPECIAL MECHANICAL
FEATURES
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Motors with double shaft extensions.
* Non-standard mounting dimensions.
* Non-standard shaft extension.
* Oil-tight shaft construction (OTS)
on Drive end.
* Higher degree of Protection, IP54, IP55.
* Reduced vibration levels.
* Motors for corrosive atmospheres
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SPECIAL ELECTRICAL FEATURES
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Supply Voltage upto 550 V.
* Dual Voltage motors.
* Wider operating voltages e.g. +
10%, or + 6% to -15%
* Supply frequency 60 Hz. - 25 Hz.
* Wider frequency tolerance +
5%
* Lower synchronous speeds, like 500 and
375 rpm.
* 2 or 3 speed pole changing motors.
* Motors with higher class of insulation (class
F or H)
* Motors with thermal protection.
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.39.87 |
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1 |
Rs.80.11 |
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Euro |
1 |
Rs.56.19 |
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 |
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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