MIRA
INFORM REPORT
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Report Date : |
19.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
TOOL AND MACHINE
TOOL ENGINEERS |
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Registered Office : |
10/4, III Main Road,
Ambattur Industrial Estate, Chennai – 600058, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1985 |
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IEC No.: |
0490006442 |
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PAN No.: [Permanent Account No.] |
ANEPS1001N |
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Legal Form : |
Sole Proprietory
Concern |
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Line of Business : |
Manufacturer, Exporter and Importer of Display Racks used in commercial, industrial and domestic applications. |
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 50000 |
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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. |
INFORMATION PARTED
BY
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Name : |
Mr. Murli Krishan |
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Designation : |
Marketing Manager |
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Contact No.: |
91-93801443595 |
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Date : |
13.08.2008 |
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Name : |
Mr. Hari Subramiyam |
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Designation : |
Head Administrative |
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Contact No.: |
91-9380514605 |
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Date : |
13.08.2008 |
LOCATIONS
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Registered Office/ Factory : |
10/4, III Main
Road, Ambattur Industrial Estate, Chennai – 600058, Tamilnadu, India |
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Tel. No.: |
91-44-26248461/26357650/26248222/26251665 |
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Mobile No.: |
91-9380143595/ 9380514605 |
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Fax No.: |
91-44-26521832/26250062 |
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E-Mail : |
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Website : |
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Area: |
40000 sq. ft (25000 – Owned and 15000 – Rented) |
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Head Office : |
10/4, III Main
Road, Ambattur Industrial Estate, Chennai – 600058, Tamilnadu, India |
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Tel. No.: |
91-44-26248461/26357650/26248222/26251665 |
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Fax No.: |
91-44-26521832/26250062 |
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Area: |
30000 Sq. ft |
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Location : |
Rented |
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Factory : |
114 SIDCO AIEMA Tower, I Main Road, Ambattur Industries Estate, Chennai – 600058, Taminadu, India |
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Area: |
2000 sq. ft |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. Y Sudarsana
Rao |
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Designation : |
Proprietor |
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Date of Birth/ Age: |
48years |
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Qualification : |
Tools Desing |
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Experience : |
28 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Display Racks used in commercial, industrial and domestic applications. |
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Products : |
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Exports : |
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Products : |
Rackes Used in Commercial Industries domestics Application |
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Countries : |
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Import : |
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Products : |
Raw Materials
Ifia Racks |
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Countries : |
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Terms : |
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Selling : |
L/C and Cash |
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Purchasing : |
L/C and Cash Advance |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
222 (Office – 22
and Office – 200) |
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Bankers : |
Ambattur Industrial Branch, Ambattur, Chennai – 600058, Tamilnadu,
India |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Mr. Ramani and Ramanuj company Chartered Accountant |
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Address : |
Chennai, T Nagar |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.10.000
millions |
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Borrowed : |
- |
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Total : |
Rs.10.000
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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160.000 |
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Expected Sales (2008-09): Rs.350.000 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 |
Tools and Machine Tools Engineers |
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Statutory
Approvals |
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Income Tax Registration |
ANEPS1001N |
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Central Sales Tax Registration |
C-NXM 001 |
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VAT/ TIN Registration |
3308120654- V |
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Excise Registration |
ANEPS1001N C-NXM 001 |
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Import Export Code |
0490006442 09.10.1990 |
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Name of Bank |
State Bank of India |
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Current Account Number |
104119076244 |
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Credibility
Factors |
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Years of Establishment |
1985 |
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Standards &
Certifications |
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Quality Management Systems |
ISO – 9001:2000 (Rg. 9910009899) |
Trade Reference:
- Aditaya Birala Retail Limited -Mumbai
- Spensors Retail Limited – Chennai
- Herritage
Food Limited – Hyderabad
- Future Logestic Limited, Mumbai
Website Details:
Profile:
Established in the year 1989 Subject is a well-known company engaged in the manufacturing and exporting of display and storage racks for commercial and industrial purposes. Their mentor Mr. N. Murali Krishnan has been guiding the company through all odds to set new benchmarks of excellence all over the world. Under his leadership they endeavor to stay ahead of their competitors by adopting latest technology and machinery to manufacture products of unsurpassed quality. Their wide array of display and storage racks is known for their dust free and versatile storage capacity. They have the required wherewithal to handle all kinds of orders with precision. Further they have contacts with the renowned C & F agents to ensure that their products reach the clients within the specified time range.
Quality Assurance
They are committed to offer their clients products that are at par with the international standards. Their quality assurance team conducts strict quality surveillance to ensure that the products that reach their clients are with zero defects and comply with the specified norms. The quality control tests get started with the procurement of raw materials and lasts till the installation at client''s site. The end products manufactured at their production unit are checked on the following parameters to ensure the superior quality of the final product:
• Withstand optimum load
• Misalignment
• Uniform finish
The production processes are closely monitored by a panel of experts who have immense knowledge in their respective field. Above all they are engaged in extensive research to further improvise the quality of their products and offer more efficient storage and display solutions.
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 :
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.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 |
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. |
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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