MIRA
INFORM REPORT
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Report Date : |
01.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
INDUSTRIAL EQUIPMENT AND SPARES |
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Registered Office : |
2nd Floor, # 15, Erabalu Chetty Street (Facing Vannier
Street), Chennai 600001, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1998 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers, Exporter and Traders of Air Compressors, Spare Parts,
Grease Pumps, Car Washers and Vacuum Pumps. |
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 40000 |
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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. Trade relations are fair. Business is active. Payments are reported as
usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Amar Jain |
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Designation : |
Proprietor |
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Contact No.: |
91-44-25241332 |
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Date : |
01.04.2008 |
LOCATIONS
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Registered Office/ Factory : |
2nd Floor, # 15, Erabalu Chetty Street (Facing Vannier
Street), Chennai 600001, Tamilnadu, India |
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Tel. No.: |
91-44-25241332 |
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Mobile No: |
91-9444081332 |
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Fax No.: |
91-44-42164299 |
SOLE PROPRIETOR
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Name : |
Mr. Amar Jain |
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Designation : |
Proprietor |
BUSINESS DETAILS
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Line of Business : |
Manufacturers, Exporter and Traders of Air Compressors, Spare Parts,
Grease Pumps, Car Washers and Vacuum Pumps. |
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Products: |
Besides, we also deal in all types of air
compressors and refrigeration compressors, made by other leading brands like:
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Exports : |
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Products : |
All Products |
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Countries : |
USA, UAE, Korea, China |
GENERAL
INFORMATION
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No. of Employees : |
25 |
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Bankers : |
Canara Bank Parrys Corner Branch Broadway Chennai 600001 |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 10.000 Millions |
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Borrowed : |
0.000 |
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Total : |
Rs. 10.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2007 |
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Sales Turnover |
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20.000 |
LOCAL AGENCY
FURTHER INFORMATION
Profile:
This Proprietorship firm was started in 1998 by Mr. Amar Jain. By sheer
hard work and sicerity the firm has now established its feet in the compressor
sales and service. The location of the firm in Errabalu Chetty street, in
Chennai is the best that any one can wish for. Centrally located it caters to
the air conditioning industry based in Chennai and the entire Tamilnadu.
In the last one decade, the firm has created a unique identity for
themselves sa a renowed manufacturer, exporter and trader of extremely durable
and user friendly range of air compressors and spare parts. Their comprehendive
range includes Single stage air Compressors, Two Stage Air Compressors, Dry
Vaccum Pumps, High Pressure Air Compressors, Vertical Type Air Compressors,
Pistons and Cylinders, Connecting Rods, Crank Cross Heads, Crank Pin Bushes,
Valves and valve Parts, Piston Rings /Rider Rings, ‘O’ Rings and Gaskets/ Oil
Seals, Air Filters/ Oil filters, Grease Pumps, Car Washers etc. They also deal
in a variety of air comprssors manufactured by the leading brands like
Ingersoll Rand, Elgi, Kirloskar, KG Khosla, Atlas, Copco, CPT, etc.
In addition to the above, they deal in refrigeration compressors of
eminent brands like Carrier, Trane, Kirloskar, Accel-Sabro, Voltas etc.
Following are the key pointers that highlight the significiance of our
impeccable infrastructural setup:
v
A state of the art production unit, with a perfect amalgam of machinery
and manpower.
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Latest, cutting edge machines to ensure a smooth flow of production.
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A team of highly qualified and proactive employees.
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In-house checking facility equipped with latest testing equipments where
every product is thoroughly monitored.
v
Special emphasis on the packaging of products to avoid any damage while
in transit.
A capacious warehouse, ensuring that products are safe and thus, enable
us to meet all kinds of market demands.
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 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.40.02 |
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UK Pound |
1 |
Rs.79.44 |
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Euro |
1 |
Rs.62.94 |
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 |
NO |
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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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