MIRA
INFORM REPORT
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Report Date : |
19.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
NAV BHARAT ENGINEERING COMPANY |
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Registered Office : |
R-10/133, New Raj Nagar, Ghaziabad 201001, Uttar Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1994 |
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PAN No.: [Permanent
Account No.] |
AXZPS8053M |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Contractor and Installation of Boiler Machines |
RATING &
COMMENTS
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MIRAs 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 2500 |
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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 having satisfactory track. Trade
relations are fair. Payments are usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. Nothing adverse reported. |
INFORMATION PARTED
BY
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Name : |
Mr. Deepak Suvarna |
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Designation : |
Proprietor |
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Contact No.: |
91-9311106094 |
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Date : |
13.08.2008 |
LOCATIONS
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Registered Office : |
R-10/133, New Raj Nagar, Ghaziabad 201001, Uttar Pradesh, India |
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Mobile No.: |
91-9311106094/ 9999992630 |
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E-Mail : |
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Website : |
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Area : |
400 sq. ft. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Deepak Suvarna |
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Designation : |
Proprietor |
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Date of Birth/Age : |
35 years |
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Qualification : |
Graduate |
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Experience : |
14 years |
BUSINESS DETAILS
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Line of Business : |
Contractor and Installation of Boiler Machines |
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Products : |
Products/
Services
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Terms : |
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Selling : |
Cash and Credit (30 days) |
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Purchasing : |
Credit (60 days) |
GENERAL
INFORMATION
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Customers : |
End Users
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No. of Employees : |
26 (Office 6 and Factory 20) |
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Bankers : |
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Banking Relations
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- |
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Auditors : |
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Name : |
Sharma and Company Chartered Accountant |
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Address : |
Ghaziabad |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.0.500 Million (Estimated) |
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Borrowed : |
- |
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Total : |
Rs.0.500 Million (Estimated) |
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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15.000 |
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Expected Sales (2008-09): Rs.15.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Details |
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Existence
Verification |
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Name |
Nav Bharat Engineering Company |
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Statutory
Approvals |
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Income Tax Registration |
AXZPS8053M |
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Name of Bank |
Vijaya Bank |
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Current Account Number |
711300301000008 |
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Account Since |
1994 |
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Credibility
Factors |
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IndiaMART Client Since |
1st Years |
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Years of Establishment |
1994 |
Trade Reference:
- Thermax
Limited, Hyderabad
- Cethar
Vesseles Limited, Chennai
- Theymal Syslan
Private Limited, Hyderabad
Website Details:
Profile:
Subjects are a proprietorship firm engaged in fabrication
and commissioning of boilers. Their range includes erection of boilers, designing
of high pressure steam pipe line, maintenance of boilers, spares of boilers,
erection of reactors, erection / lying of steam pipeline.
Under the guidance of their mentor Deepak Suvarna, they have recorded positive
growth in the passing years. He has extensive experience in this industry that
assists them in successfully meeting their operational goals. To support him,
they also have an expert team for erection of materials or equipment and
fabrication of structural steel.
Quality Assurance
With complete expertise in the domain, they have developed
their capability to successfully design and manufacture a wide assortment of
products for meeting the application demands of diverse industries. Available
in standard specification and customized finishes, their range includes
erection of boilers, designing of high pressure steam pipe line, maintenance of
boilers, spares of boilers.
Features of their products and services:
Low capital cost
Highly reliable projects and requires low maintenance
Clean emission within acceptable norms
They are committed towards providing high quality products
and services to their clients. During their designing and fabrication
processes, they follow stringent norms, which assist them in delivering
flawless outputs. Further, each and every stages of production undergoes
quality checks to ensure qualitative range and services to their clients. They
also check and test the procured raw materials to produce durable and reliable
range.
Infrastructure
They are
well equipped with modern machines and advanced technology based processes,
which enables them to effectively meet the demand of their clients.
Welding machines
Grinding machines
Drilling machines
Electric winch
Hand
winch
Gas
cutting sets
Welding
generator
Welding transformer
Hydraulic pump
Pulling lifting machine
Chain
block
Electric grinder
Baking
oven
Portable oven
Tube
expanding machine
Many
hand tools
Team
The competent
workforce at their organization enables them to offer quality products and
services to their clients. Their team consists of experienced managers,
engineers, technocrats, administrative persons, supervisors, skilled and
unskilled work force to look after the entire production system. They possess
in-depth knowledge about their respective domain.
In addition, they invest in training to promote knowledge of their team in the
area of technical development, research and production to fabricate innovative
range and provide services accordingly. Furthermore, they also offer detailed
project report with the help of full fledged services of their team.
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 Intl
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 companys 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 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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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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45 |
This score serves as a reference to assess SCs 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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