MIRA
INFORM REPORT
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Report Date : |
18.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
R. H. ENGINEERS |
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Registered Office : |
Nirmal Ruber Compound, I B Patel Road, Goregaon [East], Mumbai – 400 063,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1980 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer, Exporter and Supplier of three Roll Idler Set, Gravity Path and Bend, Heavy and Light
Duty Roller, Oven Conveyor, Screw Conveyor, Tray Conveyor, Elevator, etc. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Small Concern |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern in its field. Trade relations are fair. Scale of
activity is limited. Payments are
reported as slow but correct. The concern can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
INFORMATION PARTED
BY (General Details)
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Name : |
Mr. Vishal Desai |
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Designation : |
Son of Proprietor |
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Date : |
12.08.2008 |
LOCATIONS
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Registered Office : |
Nirmal Ruber Compound, I B Patel Road, Goregaon [East], Mumbai – 400
063, Maharashtra, India |
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Tel. No.: |
91-22-26853490 / 26853491 |
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Mobile No.: |
91-9967275629 / 9969511153 |
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Fax No.: |
91-22-26853490 |
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E-Mail : |
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Area : |
1800 Sq. ft. |
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Location : |
Owned |
PROPRIETOR
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Name : |
Mr. Anil C. Desai |
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Designation : |
Proprietor |
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Date of Birth/Age : |
65 Years |
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Qualification : |
Graduate |
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Experience : |
23 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Supplier of three Roll Idler Set, Gravity Path and Bend, Heavy and Light
Duty Roller, Oven Conveyor, Screw Conveyor, Tray Conveyor, Elevator, etc. |
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Products : |
v Three Roll Idler Sets v Gravity Paths and Bends v Heavy and Light Duty Rollers v Oven Conveyors v Screw Conveyors v Tray Conveyors v Elevators v Redler Conveyor v Non-magnetic Idler Set v Slat Conveyor v Drag Conveyor |
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Terms : |
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Selling : |
Cash and Credit ( 30 Days) |
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Purchasing : |
Credit Cheque 30%, Advance 70% against Delivery |
GENERAL
INFORMATION
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Customers : |
v
Aromatic Ingredients Private Limited
v
Borosil Glass Works Limited v
Cadbury India Limited v
Colour Chem Limited v
Golden Chemicals Private Limited
v
Gujarat Reclaim and Rubber Production Limited v
Graphite India Limited v
Hindustan Lever Limited v
India Pesticides Limited v
Mapro Foods v
L and T – Mumbai |
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No. of Employees : |
10 |
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Bankers : |
Ř Canara Bank Goregaon [West] Branch, Mumbai, Maharashtra, India Ř Greater Bombay
Co-operative Bank Goregaon [West] Branch, Mumbai, Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Rajan Soni Chartered Accountants |
CAPITAL STRUCTURE
Not Available
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
4.000 |
3.500 |
2.500 |
Expected Sales (2008-09): Rs. 5.000 Millions
LOCAL AGENCY FURTHER
INFORMATION
Trade References
Ř
Aromatic Ingredients Private Limited
Ř
Borosil Glass Works Limited
Ř
Cadbury India Limited
Ř
Hindustan Lever Limited
Ř
Mapro Foods
Ř
L and T – Mumbai
As Per Website Details
Established in the year 1983, Subject is one of the leading organizations engaged in the manufacturing and exporting of industrial material handling equipment. These precision-engineered products cater to the requirements of various engineering, pharmaceutical, packaging and other commercial applications. The activities of the company is looked after by the mentor Mr. A.C. Desai, who has vast expertise and experience in the field that is very beneficial for developing market leading business strategies.
They adhere to international standard to fabricate the products. Efficiently
handled by the diligent team, they have sophisticated manufacturing and
designing facilities to manufacture innovative products. Owing to the
technically advanced design, the products can withstand any working conditions
efficiently and rapidly.
The company has channelized all its efforts towards gratifying the variegated
requirements of the clients in all aspects.
Industries Catered
They are occupied in fabricating technically advanced products that are renowned for their quality, longer service life and efficient performance. These attributes make them utilizable in various industries worldwide. Some of the industries they serve are:
v
Chemical
Industry
v
Pharmaceutical
Industry
v
Textile
Industry
v
Automobile
Industry
v
Packaging
Industry
v
Food
Industry
v
Chemical
Industry
v
Oil
Industry
v
Cement
Industry
v
Foundries
v
Petrochemical
Research and Development
They
believe that to stay ahead among others, it is important to keep improving in
the sphere and offer the clients with something different from the rest. To
fulfill this objective, they have a well-equipped research and development
wing. The R and D personnel are well versed with their work and are
persistently working to improvise the existing product range in term of quality
functionality and cost-effectiveness. Their services are beneficial for both us
and the clients in all aspects. They are well informed about the latest
technological developments and also hear the opinion of the clients. This helps
them to make out the scope of improvement area and offer innovative product
range.
Manufacturing
Facilities
The manufacturing plant is spread over an area of 1000
square feet and has an installed capacity of 3000 units. For fast production
process, the unit is fully integrated with hi-tech machines. Some of the
machines and equipment installed in the production unit include the following:
v Lathe
Machines
v Grinders
v Shapers
v Planners
v Welding
machines
v Cutting
machines
The manufacturing plant is fully supported by the in-house design
facility. The designing unit is fully equipped with latest CAD/CAM software to
verify the designs before implementing and manufacturing them. Together, the
manufacturing facilities and the professionals ensure that the products are in
confirmation to the quality measures.
Team of Experts
The
workforce is an inseparable and integrated part of any organization. They have
a diligent and talented team of experts and professionals from different
fields. The workforce includes engineers, designers, agents, quality
inspectors, administrators, marketers and other personnel. They all work in
coordination with each other to enable uninterrupted business and production
procedures. Each and every personnel have thorough knowledge and expertise in
their specific field and can efficiently handle all situations. Their efforts
and sincere dedication towards their work have taken the company to newer
heights, over the years.
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 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 :
The 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.
The 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. 43.23 |
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UK Pound |
1 |
Rs. 80.89 |
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Euro |
1 |
Rs. 63.80 |
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 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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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33 |
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, they have no basis upon which to
recommend credit dealings |
No Rating |
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