MIRA
INFORM REPORT
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Report Date : |
22.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
FINE TECH ENGINEERS |
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Registered Office : |
39, Kameshwar Estate, Plot No. 3609, Phase- IV, GIDC, Vatva, Ahmedabad
– 382445, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
April 2004 |
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IEC No.: |
0804004145 |
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PAN No.: [Permanent
Account No.] |
AKIPS8104L |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Supplier of a
wide range of control panels for plastic processing machinery and other general
industrial machines. |
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 5000 |
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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 an established, small concern, it’s trade relations are fair.
Payments are usually correct and as per commitments. Nothing adverse
reported. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Avinash Shah |
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Designation : |
Proprietor |
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Date : |
19.08.2008 |
LOCATIONS
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Registered Office/Factory : |
39, Kameshwar Estate, Plot No. 3609, Phase- IV, GIDC, Vatva, Ahmedabad
– 382445, Gujarat, India |
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Tel. No.: |
91-79-25841635 |
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Mobile No.: |
91-9377511468 |
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E-Mail : |
finetechengineers@gmail.com |
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Website : |
http://www.indiamart.com/finetech |
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Area : |
1000 sq fts. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Avinash Shah |
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Designation : |
Proprietor |
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Date of Birth/Age : |
45 years |
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Qualification : |
BE Educated |
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Experience : |
24 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Supplier of a wide
range of control panels for plastic processing machinery and other general
industrial machines. |
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Products : |
v
PLC Base Touch
Screen Panel For Plastic v
Lamination and
Tape line Plant Panel v
Control Panel
For Plastic Machine |
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Exports : |
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Products : |
Process Control Panels |
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Countries : |
Nigeria, Tanzania, Kango, Zambia and South Africa |
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Terms : |
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Selling : |
L/C (Cash / Credit) |
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Purchasing : |
L/C or TT (Cash / Credit) |
GENERAL
INFORMATION
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No. of Employees : |
6 (Office-2 and Factory-4) |
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Bankers : |
State Bank of India, Maninagar |
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Facilities : |
The concern enjoy facility of Rs. 0.242 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Sunil Sanghvi (Chartered Accountant) |
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Address : |
Ashram Road, Ahmedabad |
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Mobile No.: |
91-9376150100 |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.000 Million (Estimated) |
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Borrowed : |
0.000 |
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Total : |
Rs. 1.000 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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7.000 |
Expected sales (2008 : 09) – Rs. 10.000
Millions
LOCAL AGENCY
FURTHER INFORMATION
Trustseal Acceptance Chart
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Existence
Verification |
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Name |
Fine Tech Engineers |
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Statutory
Approvals |
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Income Tax Registration |
AKIPS8104L |
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Central Sales Tax Registration |
2457570114 |
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VAT/TIN Registration |
CST2407570114 |
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Name of Bank |
State bank of India |
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Current Account Number |
0246209805 |
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Account Since |
2004 |
Trade
References:-
v Apex
Engineering Vatva Tel No :- 91-79-2583
v Thypan
Exogen 91-989-25895126
Profile:-
Established in the year 2004, subject is engaged in manufacturing and exporting of a
wide range of control panel for plastic processing machinery. Their range
includes PLC base touch screen panel for plastic, automation of plastic
machines, control panels for plastic machine, industrial DC drives, pipe plant
panel, lamination panel, tape line panel and PCC, MCC and APFCR panel.
In a short span of time, they have earned a reputation in the industry being a
renowned and trustworthy suppliers. They are known for offering control panels
for various applications. The control panels are in confederation with various
national and international standards. Their commitment to furnish superior
quality products to their clients at most effective pricing substantially
places them among the top ranker supplier in international marketplace. With
customer centric approach and superior quality products, they have found a vast
clientèle globally.
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
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.43.58 |
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UK Pound |
1 |
Rs.81.43 |
|
Euro |
1 |
Rs.64.52 |
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 |
YES |
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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 |
NO |
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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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