MIRA
INFORM REPORT
|
Report Date : |
19.04.2008 |
IDENTIFICATION
DETAILS
|
Name : |
HYDROPOWER ENGINEERS |
|
|
|
|
Registered Office : |
No. 182, 2nd Floor, KBAR road, Austin Town, Bangalore – 560
047, Karnataka |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2008 |
|
|
|
|
Date of Incorporation : |
1996 |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Manufacturers and Designers of de-coiling machines, press feeders, hydraulic presses, stainless
steel power packs, servo hydraulic systems, servo actuators |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 10000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well – established and reputed concern having
satisfactory track. Trade relations are reported as 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. |
LOCATIONS
|
Registered Office : |
No. 182, 2nd Floor, KBAR road, Austin Town, Bangalore – 560
047, Karnataka , India |
|
Tel. No.: |
91-80-25361221 / 64539093 |
|
Fax No.: |
91-80-65687324 / 51115845 |
|
E-Mail : |
info@hydropowerengineers.com hpes_bc@yahoo.co.in |
|
Website : |
www.hydropowerengineers.com |
|
|
|
|
Factory 1 : |
Bommasandra Industrial Area, Bangalore 560 068, Karnataka, India |
|
Area : |
6500 Sq.fts |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
#201 / 1A, Kudlu Road, Near TVS Godown, off Hosur Road, Madiwala Post,
Bangalore – 560 068, Karnataka, India |
|
Tel. No.: |
91-80-5111 5845 |
SOLE PROPRIETOR
|
Name : |
Mr. V S Sundar |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
39 years |
|
Qualification : |
BE Mechanical |
|
Experience : |
18 years |
|
Mobile No.: |
91-9845134513 |
KEY EXECUTIVES
|
Name : |
Mr. M G P Rao |
|
Designation : |
Technical Director |
|
Mobile No.: |
91-9845640834 |
|
|
|
|
Name : |
Mr. K Venkoba Rao |
|
Designation : |
Commercial Director |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Designers of de-coiling machines, press feeders, hydraulic presses, stainless
steel power packs, servo hydraulic systems, servo actuators. |
|
|
|
|
Products: |
· Pipe Swaging Machine · Decoiling Machine · Hydraulic Press · Press Feeder · P U Foam Moulding · Hydraulic Testrig · Hydraulic Cylinder · Hydraulic Testing · Hydraulic Power Pack · Pipe Chamfering Machine · Hydraulic Winch · Manifolds Bellhousing · Conveyors · Blow Moulding Machine · Parawash · Hydraulic lifts · Cable Crimping Machine |
|
|
|
|
Terms : |
|
|
Selling : |
Advance payments |
|
|
|
|
Purchasing : |
Credit (30 days) |
GENERAL
INFORMATION
|
Suppliers : |
· Ashraf and Company, Bangalore · Growel Engineering, Bangalore |
|
|
|
|
Customers : |
· Thermax Limited, Pune and Vadodara. · Harita Seating Systems, Hosur. · Typhoon Blowers, Mumbai. · Proins Technologies, Bangalore · Wipro Limited, Fluid Power Division, Bangalore. · IFB Industries, Bangalore. · Carborundum Universal Limited Hosur and Ranipet. · TVS Motor Company Limited, Hosur and Mysore. · Boving Fouress Limited, Bangalore. · Eaton Vickers Limited, Pune. · Bosch Rexroth (India) Limited, Bangalore. · Batli Boi SPMS Private Limited, Bangalore. · ThyssenKrupp JBM Limited, Chennai. · Fenner India Limited, Chennai. · Hydroquip Hydraulic Private Limited, Bangalore. · Askar Microns, Mysore. · NPOL, Cochin. · Sika Interplant Systems Limited, Bangalore. · Rane (Madras) Limited Mysore and Chennai. · Ramco Group, Madurai. · Hawe Hydraulics, Bangalore. · Raman Boards Limited, Mysore. · BARC, Mysore. · Deccan Aviations, Bangalore. · Avasarala Automation Private Limited, Bangalore |
|
|
|
|
No. of Employees : |
15 |
|
|
|
|
Bankers : |
Vijaya Bank, Victoria Layout, Bangalore – 560 047, Karnataka, India |
|
|
|
|
Facilities : |
Rs. 0.500 million |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
M/s Ajit and Vivek Chartered Accoutnants |
|
Address : |
Bangalore – 560 047, Karnataka, India |
|
|
|
|
Memberships : |
Fluid Power Society |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 2.500 millions |
|
Borrowed : |
--- |
|
Total : |
Rs. 2.500 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
31.03.2008 |
31.03.2007 |
|
Sales Turnover |
|
10.000 |
8.000 |
|
|
|
|
|
|
Profit/Loss for the year |
|
10% |
10% |
Average Value of Inventories: Rs. 1.000 million
LOCAL AGENCY
FURTHER INFORMATION
WEBSITE DETAILS:
The concern is engaged
in the design and manufacturing of test facilities, Test rigs, material
handling equipment such as hydraulic and pneumatically operated lift platforms,
conveyors, belt loaders and hydraulic power packs and cylinders. Their activity
also includes design and manufacture of de-coiling machines, press feeders,
hydraulic presses, stainless steel power packs, servo hydraulic systems, servo
actuators. Besides, they also undertake specialized design and development
work, reconditioning and servicing of hydraulic oriented machinery and systems,
erection commission consultancy and manufacturing of special purpose machines.
The concern is
backed by skilled and experienced workmen with manufacturing facility in
Bangalore and is well supported by machinery suitable for carrying out the
entire above task. As a matter of their The concern policy, specialized work is
out sourced to be cost effective and to get the best out of the skill and
infrastructure available in the company.
The concern has
earned recognition from well satisfied clientele ranging from corporate houses
to small and medium sized companies for its technical competency, cost
effectiveness and prompt service.
The concern is also a manufacturer of Press Feeders, hydraulics presses,
stainless steel power, srevo actuators.
Team and Infrastructure
The concern was
promoted in the year 1996 by Mr. Sundar V. S, Managing director, who is a
mechanical engineering graduate from Madurai Kamaraj University. He has a vast
experience both in the design and manufacturing of hydraulic related machinery
and has hands on experience, having worked in a the concern engaged in the
manufacture of plastic Blow Molding Machines and Hydraulic Power packs.
Mr. M. G. P. Rao is
the technical director of the company. Before joining the concern Mr. M. G. P
Rao worked for M/s EATON – VICKERS, Bangalore in various capacities before
resigning as Executive Customer Service. Mr. Rao has an extensive knowledge in
application Engineering, Machine Tools and Manufacturing Technology. He holds a
Master degree in Mechanical Engineering from Mascow.
Mr. K. Venkoba Rao
is the commercial director of the company. Mr. Rao has earlier worked for M/s
Yuken India Ltd, Bangalore in various capacities before retiring as General
Manager. He has over 25 years experience in the field and holds a degree in
Mechanical Engineering from Mysore University.
Capabilities
· Design and development of dozing and metering pumps.
· Design and development of simulators for automobile and aircraft industry.
· Design and development of servo cylinders.
· Design and development of hydraulic clamping rings and mandrels.
· Design and development of hydraulic ground support equipment for aviation industry.
· Thermally insulated hydraulic tanks for high temperature test rigs.
· Design and development of hydraulic high pressure chemical mixing head for foaming machines.
· Design and development of hydraulic portable cable swaging machine
· Design and development of pneumatic and electro – pneumatic training aids.
· Design and development of hydraulic and electro – hydraulic training aids.
· Design and development of pneumatic and electro - pneumatic control panels.
· Design and development of any type of hydraulic import substitution products.
CMT REPORT
(Corruption, Money Laundering and 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.39.96 |
|
UK Pound |
1 |
Rs.78.66 |
|
Euro |
1 |
Rs.63.31 |
SCORE and RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
---- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
56-70 |
A |
Financial and operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable and favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|