MIRA
INFORM REPORT
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Report Date : |
05.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
TRINITY ELASTOMERS |
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Registered Office : |
No. 4/607, VOC Street, Kotivakkam, Chennai – 600041, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
2001 |
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PAN No.: [Permanent
Account No.] |
AACFI5065G |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturer and Exporter Of Rubber Molded Components. |
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 15000 |
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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. Partners are reported as experienced and respectable businessmen.
Trade relations are fair. Business is active. Payments are 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. R. Saathesh Kumar |
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Designation : |
Partner |
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Date : |
02.08.2008 |
LOCATIONS
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Registered Office : |
No. 4/607, VOC Street, Kotivakkam, Chennai – 600041, Tamilnadu, India |
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Tel. No.: |
91-44-24542053 |
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Mobile No.: |
91-9381039191 |
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E-Mail : |
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Website : |
www.trinityelastomers.net |
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Area : |
24000 sq fts. |
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Location : |
Rented |
PARTNERS
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Name : |
Mr. R. Saathesh Kumar |
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Designation : |
Partner |
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Date of Birth/Age : |
35 years |
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Qualification : |
D. P. BBA |
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Name : |
Mr. J. Sur Kumar |
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Designation : |
Partner |
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Date of Birth/Age : |
35 years |
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Qualification : |
D.P. BBA |
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Name : |
Mr. P. Saathesh Kumar |
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Designation : |
Partner |
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Date of Birth/Age : |
35 years |
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Qualification : |
D.P. BBA |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter Of Rubber Molded Components. |
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Products : |
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Imports : |
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Products : |
Moulds |
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Countries : |
Korea |
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Terms : |
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Selling : |
Credit (90 days) |
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Purchasing : |
Credit (60-90 days) T.T |
GENERAL
INFORMATION
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Customers : |
v OEM’s v
Besmark Components Private Limited v
Penta Daewha Autoparts Limited v
Elactromags. v
Goodwill Pens Private Limited v
Sabes Pens Private Limited v
Bright Brothers Limited |
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No. of Employees : |
24 |
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Bankers : |
Indian Overseas Bank, Chennai – 600088, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Ellndi and Company (Chartered Accountant) |
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Address : |
Chennai, India |
CAPITAL STRUCTURE
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Partner’s
Capital |
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Mr. R. Satheesh Kumar |
Rs. 1.000 Million |
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Mr. J. Sur Kumar |
Rs. 1.000 Million |
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Mr. P. Satheesh Kumar |
Rs. 1.000 Million |
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Total : |
Rs. 3.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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10.700 |
Expected Sales (2008-09) : Rs. 15.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Trustseal Acceptance
Chart
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Existence Verification |
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Name |
Trinity Elastomers |
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Statutory Approvals |
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Income Tax Registration |
AACFI5065G |
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VAT/ TIN Registration |
33350922952 |
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Import Export Code |
0404011128 |
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Name of Bank |
Indian Overseas Bank, Chennai – 600088, India |
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Current Account Number |
384 |
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Account Since |
2001 |
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Credibility Factors |
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IndiaMART Client Since |
2006 |
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Years of Establishment |
2001 |
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Trade Affiliations |
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SSI Registration |
330348853 |
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Standards & Certifications |
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Quality Management Systems |
9001-2000 |
Trade References:-
v Hundai Motor India, Chennai, India
v G. M. Pena and Industry Private Limited, Pondicherry, India
v Besmac Compenta, Chennai, India
Profile:-
Subject is an ISO 9001:2000 certified concern, certified BSI India Limited. The manufactures of precision rubber molded components in India; subject is based in Chennai -India. They are the suppliers and exporters of such essential rubber components like rubber seals, rubber grommets, rubber gaskets, rubber bushes and the likes.
To handle such a crucial business, it is inevitable that one has technical expertise and experience in this field and hence they are backed by qualified Rubber Technologists acting as their three partners. With an experience of over ten years, there is little scope for error in the manufacturing of these products.
Subject has stood the competition of its contemporaries due to its efficient quality control methods. The high standard of quality ensures customer satisfaction.
Subject is placed at a superior ground as not only is the manufacturing unit built with superior technology, but also the manpower and resources are of the highest standards. As suppliers and exporters of molded rubber components, they work round the clock, operating in three shifts. The efficient infrastructure and the production of top quality products have helped them reach great heights.
They have been maintaining 0 ppm at customers end for the past couple of years. The well equipped laboratory gives them the power to maintain high quality standards. Besides it also lends them the versatility to develop any technical product and the confidence to exploit new market products. Their objective is to constantly provide customer satisfaction through the timely deliver of top quality products and thereby increasing the customer base.
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. |
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UK Pound |
1 |
Rs. |
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Euro |
1 |
Rs. |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
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PAID-UP CAPITAL |
1~10 |
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OPERATING SCALE |
1~10 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
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--PROFITABILIRY |
1~10 |
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--LIQUIDITY |
1~10 |
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--LEVERAGE |
1~10 |
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--RESERVES |
1~10 |
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--CREDIT LINES |
1~10 |
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--MARGINS |
-5~5 |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
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--LITIGATION |
YES/NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
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--EXPORT ACTIVITIES |
YES/NO |
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--AFFILIATION |
YES/NO |
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--LISTED |
YES/NO |
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--OTHER MERIT FACTORS |
YES/NO |
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TOTAL |
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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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