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MIRA
INFORM REPORT
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Report Date : |
22.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
REAL METALS AND SYSTEMS (BANGALORE) PRIVATE LIMITED |
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Registered Office : |
No.1/2, Yakoob Complex, 4th Cross, S P Road, Bangalore –
560002, Karnataka |
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Country : |
India |
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Date of Incorporation : |
13.01.2006 |
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Com. Reg. No.: |
08-38239 |
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CIN No.: [Company
Identification No.] |
U13100KA2006PTC038239 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BLRR02376D |
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PAN No.: [Permanent
Account No.] |
AADFR9029B / AADCR3229A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporters of Wind Turbo Ventilators,
Welding Roads, Values Fabrications. Trading of Stainless Steel Products. |
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 Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company in its field. Trade relations
are fair. Business is active. Company’s first financials are awaited.
Payments are reported as slow but correct. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Manoj Prabhakar |
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Designation : |
Chief Executive Officer |
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Contact No.: |
91-9341338555 |
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Date : |
14.03.2008 |
LOCATIONS
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Registered Office/ Factory : |
No.1/2, Yakoob Complex, 4th Cross, S P Road, Bangalore –
560002, Karnataka, India |
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Tel. No.: |
91-80-22230726/ 41249428/ 22228618 |
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Mobile No.: |
91-9341338555/ 9341220135 |
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Fax No.: |
91-80-22230726 |
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E-Mail : |
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Website : |
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Area : |
6000 sq. ft. |
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Location : |
Owned and Leased |
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Branch Office : |
No.2, Daddy’s Garden, Electronic City, Bangalore – 560100, Karnataka,
India |
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Area : |
7000 sq. ft. |
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Location : |
Leased |
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Godown : |
No.8, Daddy’s Garden, Electronic City, Bangalore – 560100, Karnataka,
India |
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Area : |
2600 sq. ft. |
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Location : |
Leased |
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Factory : |
No. 2, KIDB Electronic City , Bangalore – 560 100, Karnataka, India |
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Tel No.: |
91-80-2223041 |
DIRECTORS
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Name : |
Mr. Ramesh Chandan |
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Designation : |
Director |
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Date of Birth/Age : |
36 years |
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Qualification : |
Graduate |
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Name : |
Mrs. Nirmala Chandan |
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Designation : |
Director |
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Date of Birth/Age : |
32 years |
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Qualification : |
Under - Graduate |
KEY EXECUTIVES
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Name : |
Mr. Manoj Prabhakar |
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Designation : |
Chief Executive Officer |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporters of Wind Turbo Ventilators,
Welding Roads, Values Fabrications. Trading of Stainless Steel Products. |
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Products : |
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Exports : |
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Products : |
All Products |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit (30 days) |
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Purchasing : |
L/C, Cash and Credit (30 days) |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
30 |
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Bankers : |
Vijaya Bank, N R Road, Bangalore – 560002, Karnataka, India |
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Facilities : |
Over Draft – Rs.0.800 Million |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
G Maregonda and Company Chartered Accountants |
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Associates/Subsidiaries : |
Ramani Industries Address : 1/2, Yakoob
Complex, 4th Cross, S P Road, Bangalore – 560002, Karnataka, India Activity: Wholesalers of Stainless
Steel Products and Other Fabrication Products. |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Share |
Rs.10/- each |
Rs.0.100 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Share |
Rs.10/- each |
Rs.0.100 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 (Estimated) |
31.03.2007 |
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Sales Turnover |
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20.000 |
18.000 |
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Detail |
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Existence Verification |
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Name |
REAL METALS AND SYSTEMS (BANGALORE) PRIVATE
LIMITED |
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Statutory Approvals |
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Legal Status of Firm |
Private Limited Company |
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VAT / TIN Registration |
29490484209 |
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Import Export Code |
0708004792 |
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Name of Bank |
Vijaya Bank |
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Current account Number |
128500301000172 |
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Account Since |
5 years |
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Trade Affiliations |
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SSI Registration |
P2 MMC12141 |
trade REFERENCES:-
· Videocon Group
· SFO Technologies, Bangalore
WEBSITE DETAILS :-
A globally acclaimed
organization, Subject is manufacturer and exporters of high performance Wind Turbo
Ventilators. Their products are manufactured under stringent quality check at
every state of production. The material used for manufacturing turbines major
components are tested, treated, formed and assembled as per the existing
industrial specification and standards.
They focus upon delivery of high quality, durable products along with superior client services, which offers their clients a competitive advantage and create value for their businesses.
A professionally
managed organization, subject, is engaged in the manufacture and export of
world acknowledged
Wind Turbine Ventilators, Roof ventilators / Roof Extractors / Air
Ventilators / No Power Fan / Rooftop Ventilators.
Quality
They have earned a commendable
reputation for reliability and quality due to their adherence to uncompromising
standards of quality. Total Quality Control is built into the organizational
structure. They ensure that highest quality products are delivered to their
clients for their total satisfaction. They possess a team of experts which
maintains a strict vigil on the manufacturing process.
Infrastructure
They possess state-of-the-art
production unit that is backed by hi-tech machines. They are constantly
exploring new advancements in technology that provide real benefits to the
products they engineer. The technical know-how coupled with the vast experience
of their experts helps in culminating unrivalled products. They continually
invest in technological upgradation to keep abreast of the changing trends.
To put it simply, ventilation is the act of moving air. Out with the hot, in
with the cool, However, they're not talking about creating a breeze. Instead,
they're talking about ventilation that creates year-round benefits.
Products
The turbine
ventilators are specially designed and manufactured as per industrial
specification and standards and rigorously tested to ensure durability and
performance in extreme temperatures and high wind conditions. The turbine
ventilators are manufactured under stringent quality check at every stage of
production and the material used for manufacturing turbines major components
are tested, treated, formed and assembled as per the existing industrial
specification and standards.
Features
· Doesn’t require power or electricity
· Rigid Roll Formed Curved Vanes
· Weathered and Storm proof
· No Operating Cost
· Economical and environmental friendly
· Teflon Pre sealed or SKF ZZ Bearing
· Light weight and Durable
· Virtually Maintenance Free
The Vanes are made of bright Aluminum /SS material of double curved vanes are
specially designed for maximum weather durability, maximum wind driven
efficiency and rain spill deflection. Specially designed aerodynamic vanes are
strong by structure and light in weight. It is designed to achieve maximum wind
energy utilization and performance of exhaust suction. Vanes prevents water
entering the turbine by means of under groves provided for water spill
deflection.
Specifications
Wind driven ventilators are designed
and engineered to exhaust Industrial pollutants such as smoke, dust, poisonous
gases, humidity, fumes, heat and many many more invisible irritants from the
covered area.
Wind turbo
ventilators provide energy free cooling and fresh air through out the year.
This system functions and performs with the unlimited energy source like wind
energy, thus saving running cost on exhaust fans, wiring, maintenance, etc.
Turbine ventilator provides a safe, cool, healthier and more controlled environment
by removing the entrapped heat and industrial emission ensuring the health of
workers, thus contributing to an increase in workers productivity.
Wind turbo ventilators does not require operating time, continuously in motion
with the wind removes moisture laden air in the winter and extremely hot attic
air in the summer. Spins with the slightest breeze, creating an upward draft
which draws air out of the attic.
Industries emitting excessive heat can damage roof sheathing, felt and
composition shingles. A cool attic turbine ventilator can vent much of this hot
emissions and replace with the fresh air from outer, there by preserving the
life of the roof.
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Comparison of
Wind Ventilators with Electric Powered Ventilators |
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Electric Powered Exhaust Fans |
Wind Powered "Airbuz" Turbine
Ventilators |
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Runs on electric power hence high running
power cost |
Runs on free wind power hence zero running
power cost |
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Can be installed only where electric power
is available |
Can be installed anywhere as it runs on
wind power |
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Wall installation prevents uniform
ventilation |
Rooftop installation ensures uniform
ventilation |
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80% depreciation available as per income
tax rules. |
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How does wind turbine
work?
A well-designed
turbine ventilator takes advantage of the wind to create a positive flow
through the throat of the ventilator. The wind influences the performance of
the ventilator in two ways :
As the Wind approaches and strikes the ventilator, it jumps, creating an area
of low pressure on the leeward side of the turbine. This low pressure zone is
fed by drawing air from the turbine, causing a continuous extraction of air
from the building.
As the turbine rotates, the centripetal forces associated with the rotation
fling air outwards form the tips of the vanes. Replacement air is drawn into
the throat of the ventilator from the building causing continuous ventilation.
The turbine will even rotate and exhaust in the absence of wind using the
thermal currents developed within the building.
Features
· Located at the topmost point of the roof to give optimum ventilation.
· Strong Lightweight and anti-corrosive.
· Rainwater and bird proof, being made up of closely spaced profiled vanes.
· Prevents down draft in to the building allowing air entry from the side openings.
· Pleasant looking and enhances architectural looks.
· Prevents condensation at the bottom of the roof.
· Designed to withstand winds in excess of 140 Km / hr.
· Exhausts hot air due to stack effect even when there is no wind.
· Smooth and quiet operation.
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.43.58 |
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UK Pound |
1 |
Rs.81.43 |
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Euro |
1 |
Rs.64.52 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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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 |
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 |
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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27 |
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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