MIRA
INFORM REPORT
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Report Date : |
26.09.2007 |
IDENTIFICATION DETAILS
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Name : |
AIROCHEM ENGINEERING COMPANY |
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Registered Office : |
Plot B- 57, MIDC Shiroli, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1975 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
KLPA01682C |
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PAN No.: [Permanent
Account No.] |
AACCA0727B |
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Legal Form : |
Partnership concern with an unlimited liability of the partners |
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Line of Business : |
Manufacturer of Pollution Control Equipments |
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 32000 |
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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 company having satisfactory
track. Partners are reported as experience and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are usually correct
and as per commitments. The company can be normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office / Factory: |
Plot B- 57, MIDC Shiroli, |
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Tel. No.: |
91-230-2468107 / 2468306 |
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Mobile No.: |
91-982205819 |
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Fax No.: |
91-231-2658312 |
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E-Mail : |
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Website : |
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Area : |
1189 Sq. Mts. (Office + Factory ) |
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Location : |
Leased |
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Corporate Office : |
331, E Ward, Anandi, New
Shahupuri, |
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Tel No.: |
91-231-2653571 |
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Fax No.: |
91-231-2658312 |
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E-Mail : |
PARTNERS
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Name : |
Mr. D.P. Kamat |
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Designation : |
Partner |
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Date of Birth/Age : |
57 Years |
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Qualification : |
B.E. Mechanical |
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Name : |
Mr. L. R. Nevrekar |
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Designation : |
Partner |
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Date of Birth/Age : |
64 Years |
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Qualification : |
B.E. Mechanical |
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Name : |
Mr. K.P. Kamat |
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Designation : |
Partner |
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Date of Birth/Age : |
53 Years |
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Qualification : |
Graduate (B. Com) |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Pollution Control Equipment. |
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Products : |
·
Induced and
Forced Draft Fans for Boilers ·
Centrifugal
Ventilation Fans ·
Centrifugal Blowers ·
Multistage
Centrifugal Blowers ·
Mine Ventilation Fans ·
High Efficiency Dry Cyclone & Multiclone
Collectors. ·
Louvered cone Fly Ash Arrestors (Low Loss type) ·
Shaking type Bag Filters ·
Portable Dust Collectors ·
Gas Scrubbers ·
Diverter Valves ·
Solid Fluid Pumps ·
Blow Tanks with Accessories ·
Tailor made equipments for specific projects in
Carbon Steel and Stainless Steel |
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Exports : |
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Products : |
All Products |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash / Credit (30 to 60 days) |
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Purchasing : |
Cash / Credit |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
45 |
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Bankers : |
ICICI Bank , Laxmipuri, |
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Facilities : |
C/C Rs.5.500 millions |
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Banking Relations
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Satisfactory |
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Auditors : |
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Name : |
K.G.B. and Associates (Mr. Bhavi ) Chartered Accountant |
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Mobile No.: |
91-9422629674 |
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Associates : |
Fan Corporation Shiroli, |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.2.500 millions |
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Borrowed : |
Rs.5.500 millions |
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Total : |
Rs.8.000 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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45.000 |
40.000 |
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Expected Sales (2007-08) : Rs.55.000 millions
LOCAL AGENCY FURTHER INFORMATION
Web Details
Attached
Established in 1975 as Partnership firm, registered as Small
Scale Industry to manufacture various types of Pollution Control Equipments.
Last 25 years of growth have witnessed The Company emerge as leader in design
and manufacture of variety of Industrial Pollution Control Equipments, allied
product and other turnkey projects. The company's operation involve
manufacturing, marketing and turnkey projects in clearly defined core Business
Area at home and overseas. The Company has exported our products to countries
like
Achievements
Customer Product
/ Project
Cochin Shipyard
Limited,
Rajshree Cement,
Texmaco Limited,
Kolkatta. Multistage
Blower (8-stage)
Sahkari Sakkare
Niyamit, Alland. Fly
Ash Arrestor System
Bakelite Hylam
Limited Dust
Collection System
Datta S.S.K.
Limited, Shirol,
U.P. State Sugar
Co-Operative Limited,
Ugar Sugar Works
Limited, Ugar-Khurd,
Halsiddhanath
S.S.K. Limited, Nipani. Fly
Ash Arrestor System
Shri Shankar
S.S.K. Limited, Solapur. Fly
Ash Arrestor System
Raibag S.S.K.
Limited, Raibag. Fly
Ash Arrestor System
Shri Dudhganga
Vedganga S.S.K. Limited, Bidri,
Warana S.S.K.
Limited, Warananagar,
Ugar Sugar Works
Limited, Ugar-Khurd,
Krishna S.S.K.
Limited, Karad. Fly
Ash Arrestor & Conveying System
Madras Fertilizers
Limited, Chennai. Vaccum
cleaning system
Cochin Shipyard
Limited,
Daulat S.S.K.
Limited, Chandgad,
Malaprabha
Co-Operative Sugar Factory, M.K. Hubli. Fly
Ash Conveying System
Ugar Sugar Works
Limited, Ugar-Khurd,
Amcane Praj (
Transport
Equipment
Cochin Shipyard
Limited,
Vighnahar S.S.K.
Limited, Junnar, Pune. Pneumatic
Conveying System
Hutatma S.S.K.
Limited, Walve, Sangli. Fly
Ash Arrestor Pneumatic Conveying System
Gadhinglaj S.S.K.
Limited, Gadhinglaj,
Ugar Sugar Works
Limited, Ugar-Khurd,
Ugar Sugar Works
Limited, Ugar-Khurd,
Adinath S.S.K.
Limited, Adinathnagar, Solapur. Power
House Cooling System
Datta S.S.K.
Limited Shirol,
Sahakar Maharshi
Shankarrao Mohite-Patil S.S.K. Limited Power
House Cooling System
Gammon India Limited, Mumbai. Ventilation
System for Sewage Treatment Plant of (Municipal Corp. of Brihan Mumbai)
Reliance
Industries Limited, Hazira,
Representative:
Mr. N. K. Bhat
Flat No. 5, Prajakta Apartments (Next to Sangli Bank),
Erandawane, Pune - 411004.
Tel.: 25436911
E-mail: versatile_mktg@vsnl.com
P. Kumanan
C-4, PCSM Quarters, Lingareddipalayam,
Katterrikuppam (po),
Tel.: 0413-2674180
E-mail: kksurotech@gmail.com
Mr. Sandeepkumar Singh
C/o. Sai Rammilan Singh,
Manish Tent House,
Near Employment Office, Dist - Basti, U.P.
Mobile: 91-9838988198
Fax: 05542-246049
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.39.81 |
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1 |
Rs.80.03 |
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Euro |
1 |
Rs.56.02 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
YES |
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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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54 |
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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