MIRA
INFORM REPORT
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Report Date : |
19.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
B P PRODUCTS |
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Registered Office : |
B – 99, 2nd Cross, 1st Stage, Peenya Industrial
Estate, Bangalore – 560 058, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1992 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRB05236A |
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PAN No.: [Permanent
Account No.] |
AACFA4347A |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of Components for Hydraulic Equipments. |
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 100000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established concern being satisfactory track. Trade
relations are fair. Payments are usually correct and as per commitments. The concern is doing well. It can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
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Registered Office / Factory : |
B – 99, 2nd Cross, 1st Stage, Peenya Industrial
Estate, Bangalore – 560 058, Karnataka, India |
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Tel. No.: |
91-80-41171272 |
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Mobile No.: |
91-9886715895 |
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Fax No.: |
91-80-41171235 |
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E-Mail : |
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Area : |
5000 Sq. ft. |
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Location : |
Owned |
PROPRIETOR
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Name : |
Mr. K. Padmanabhan |
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Designation : |
Proprietor |
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Date of Birth/Age : |
60 Years |
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Experience : |
30 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Components for Hydraulic Equipments. |
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Products : |
v Hydraulic Cylinder
Parts v Earth Moving
Equipments v Automotive
Components v Machine
Components v Tooling Works v Jobwork |
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Terms : |
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Selling : |
90 days |
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Purchasing : |
60days |
GENERAL
INFORMATION
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Suppliers : |
v Savitha Supplies
– Bangalore v Steel Centre –
Bangalore v Southern
Forgings |
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Customers : |
v Wipro Fluid -
Bangalore |
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No. of Employees : |
45 |
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Bankers : |
v Bank of India Basaveshwaranagar, Bangalore – 560 058, Karnataka, India |
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Facilities : |
Rs. 12.500 millions consisting of OD and Term loan |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Ethiraj Chartered Accountants |
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Address : |
Bangalore – 560 058, Karnataka, India |
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Memberships : |
Peenya Industries Association |
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Sister Concerns : |
Shri Bhagwan Industries - Bangalore |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 20.000 millions |
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Borrowed : |
-- |
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Total : |
Rs. 20.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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45.000 |
32.000 |
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Profit/Loss for the year |
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NA |
About 10-15% |
Average Value of Inventories Rs: 3.500 millions
LOCAL AGENCY
FURTHER INFORMATION
As Per Website
Details
Subject is a major exporter and manufacturer of Hydraulic Cylinder Parts, Earth Moving Spares and Automotive Components since 1993. The concern is one of the main vendors to M/S Wipro Infrastructure Engineering Limited and Sri Lakshmi Industrial Forge. Manufacturing of machine components, tooling works and jobworks being its main forte, the company has always been striving for technological excellence. It has been certified by ISO 9001:2000, SSI, VAT and CST.
Core Competency
The concern is capable of undertaking any type of Tooling Work, Jobwork
and Manufacturing of Machine Components. They have established one more Machine
Shop to meet the growing demands of the products and services. Alongwith
state-of-the-art production facility, the company has got experienced
engineers, supervisors, inspectors and skilled workers to carry on every type
of assigned job. While carrying out any job they consider robust performance
and user-friendly operational qualities of the products. They adhere to better
quality and timely delivery.
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 :
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 43.23 |
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UK Pound |
1 |
Rs. 80.89 |
|
Euro |
1 |
Rs. 63.80 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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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48 |
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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