MIRA
INFORM REPORT
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Report Date : |
22.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
DESAI AUTOCOM INDUSTRIES PRIVATE LIMITED |
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Registered Office : |
S.No.40 / 1, Balaji Udyam Nagar, Wadgaon Sheri, Pune – 411014,
Maharashtra |
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Country : |
India |
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Date of Incorporation : |
03.10.1997 |
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Com. Reg. No.: |
111036 |
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CIN No.: [Company
Identification No.] |
U31902MH1997PTC111036 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNED03332A |
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PAN No.: [Permanent
Account No.] |
AAACD9992M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Sheet Metal Press Components and Fabricated
Assemblies. |
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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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 records. Directors 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 company can be considered normal for business dealings at usual
trade terms and conditions. Managements has confirmed to part with latest financials and if they
provide, we shall send a. No latest financials are available from the Government records |
INFORMATION PARTED
BY
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Name : |
Mr. M. V Desai |
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Designation : |
Director |
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Contact No.: |
91-9822012131 |
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Date : |
22.04.2008 |
LOCATIONS
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Registered Office / Corporate Office Factory 1 : |
S.No.40 / 1, Balaji Udyam Nagar, Wadgaon Sheri, Pune – 411014,
Maharashtra, India |
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Tel. No.: |
91-20-27033080 / 27030023 / 2703 3081 |
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Mobile No.: |
91-9822012131 |
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Fax No.: |
91-20-27030023 |
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E-Mail: |
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Website: |
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Area : |
15000sq.fts |
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Location : |
Owned |
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Factory 2: |
Gate No. 460, Katake Wasti, Opposite Pune – Nagar Road, Wagholi ,
Taluka - Haveli, District – Pune,
Pune – 412 207, Maharashtra, India |
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Tel No.: |
91-9370-319373 / 20-270 33080 / 81 |
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91-20-270 300 23 |
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Email: |
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Factory 3: |
S No. 36, Mozeswadi, Wadgaonsheri , Pune – 411 014, Maharashtra, India |
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Tel No.: |
91-9850-578117 |
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Branch : |
Wagholi, Pune |
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Area : |
2 acres |
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Location : |
Owned |
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Administrative
Office: |
Swan Lake North Main Road, Koregaon Park, Pune – 411 001, Maharashtra,
India |
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E - Mail: |
DIRECTORS
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Name : |
Mr. M.V. Desai |
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Designation : |
Director |
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Date of Birth/Age : |
57 Years |
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Qualification : |
FYJC |
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Experience : |
35 Years |
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Name : |
Mr. M.M. Desai |
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Designation : |
Director |
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Date of Birth/Age : |
32 Years |
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Qualification : |
D.M.A. |
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Name : |
Mrs. S.M.Desai |
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Designation : |
Director |
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Date of Birth/Age : |
54 Years |
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Qualification : |
Under Graduate |
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Name : |
Mrs. Suchita .M. Desai |
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Designation : |
Director |
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Date of Birth/Age : |
30 Years |
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Qualification : |
B.Sc Graduate |
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BUSINESS DETAILS
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Line of Business : |
Manufacturer of Sheet Metal Press Components and Fabricated Assemblies |
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Products : |
· Sheet Metals · Press Components · Break Levers · Two Three Wheeler Break Leavers Sheet Metal · Assemblies · Fabricated Parts · Auto components · Pipe clamps /clevis clamps · Sprinkler clamps · Pipe hangers · Welded components and assemblies · M. S. Fabricated items · S. S fabricated items |
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Exports : |
Looking Forward |
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Imports : |
Looking Forward |
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Terms : |
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Selling : |
Credit (90 days) |
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Purchasing : |
Credit (30 days , 45 days) |
GENERAL
INFORMATION
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Customers : |
˛
Bajaj Auto Limited ˛
Maharashtra Scooter Limited., ˛
Varroc Engineering Limited., ˛
Fleet Guard Filters Limited., ˛
Endurance Systems India Private Limited., ˛
Bajaj Electrical Limited., ˛ Kinetic Motor
Company Limited., ˛ Fleetguard
Filters (P) Limited, Pune ˛ Fleetguard
Filters (P) Limited, Jamshedpur ˛ Fleetguard
Filters (P) Limited, Hosur ˛ Filtrum
Tools and Components (P) Limited, Pune ˛ Veena Industries (P) Limited, Pune |
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No. of Employees : |
100 |
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Bankers : |
State Bank of Indialoxal Deccan Gymkhana Branch |
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Facilities : |
C/C – Rs.5.000 millions |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries
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Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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200000 |
Equity Shares |
Rs.10/- each |
Rs.2.000
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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70.000 |
67.500 |
Expected Sales (2007-08) : Rs.100.000 millions
Sales Growth:
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Estimated |
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Year |
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2007-08 |
2008-09 |
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8% -10% |
8% -10% |
LOCAL AGENCY FURTHER
INFORMATION
Website Details Attached:
Company Details:
The Company was promoted in the year 1984.
Earlier the foundation was laid by Mr. M. V. Desai by name of proficient die maker in the year 1980.
This companies main business was to manufacture tools and dies and supply to
various customers in open market. Mr. M. V. Desai expert in tool and die
making, with continuing the same shifted in business of sheet metal press
parts.
In 1986 proficient die maker started its business of sheet metal press
components with M/s. Bajaj Auto Limited, and in the same year proficient
die maker developed M/s. Telco as its second customer. Keeping in view of
expansion Mr. M. V. Desai started new company in wadgaonsheri by name of Desai
Autocom Industries Private Limited. As business was progressing new machineries
were required so Mr. M. V. Desai started a second unit by name of Desai Autocom
Industries Private Limited in wadgaonsheri . Mr. M. M. Desai who himself is
mechanical engineer was on board of directors with Mr.M. V. Desai and Mrs. S.
M. Desai.
The company is leading manufacturer of sheet metal press
components supplying to Bajaj Auto Limited, Telco, Kinetic Honda Tata Yazaki
Autocom Ind. Limited, and fleet guard filters Private Limited having QS
certification.
According to various requirement of their valued customers they have set
up their tool room for manufacturing tools and dies to Provide better service
and to fulfill the customers needs. They have various machines like spot
welding, Tig welding, Co2 welding gas welding, Arc welding and power presses
from 10 ton to 300 ton capacity.
In the year 2003 company achieved quality management system
certification as per international standard ISO 9001:2000 from international certification services (ASIA)
Private Limited, under certification number RQ91/181, JAS-ANS.
At present working capacity and working place is insufficient, so
company’s new project plan of the company. Unit iii is in progress at wagholi,
and will be completed by December 2006. Their company aims to supply customers
requirement in right time at required quantity and quality.
Milestones :
· Manufacturing of sheet metal press components.
· Manufacturing of two wheeler brake levers.
· Manufacturing of fabricated parts and assemblies.
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.39.89 |
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UK Pound |
1 |
Rs.79.65 |
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Euro |
1 |
Rs.63.06 |
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 |
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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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/normal. |
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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