MIRA
INFORM REPORT
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Report Date : |
23.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
ADVANCE CAD TECHNOLOGIES |
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Registered Office : |
5th Floor, Pushpashanti Tower, Near Karve Statue, Karve Road,
Kothrud, Pune 411 038, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 (Estimated) |
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Year of Establishment : |
2001 |
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PAN No.: [Permanent
Account No.] |
AAAGDF7972C / AAGPF7972C |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Subject is engaged in providing services 3D Modelling Services and
Data Translation, Reverse Engineering Services, Pattern Tool Design, Scanning,
Digital Archiving and Digitizing Services and 2D Drafting Services and
Detailing work. |
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 10000 |
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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 concern having satisfactory track. Trade
relations are fair. Business is steady. 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. Milind Futane |
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Designation : |
Proprietor |
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Contact No.: |
91-982249356 |
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Date : |
21.08.2008 |
LOCATIONS
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Registered Office / Office II: |
5th Floor, Pushpashanti Tower, Near Karve Statue, Karve
Road, Kothrud, Pune 411 038,
Maharashtra, India |
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Mobile No.: |
91-9822493956 / 9325636641 |
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E-Mail : |
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Websites : |
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Area : |
1000 sq. fts. |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. Milind Futane |
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Designation : |
Proprietor |
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Address : |
Karve Road, Kothrud, Pune 411 038, Maharashtra, India |
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Date of Birth/Age : |
33 Years |
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Qualification : |
Graduate (B E. Mech) |
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Experience : |
11 Years |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in providing services 3D Modelling Services and
Data Translation, Reverse Engineering Services, Pattern Tool Design, Scanning,
Digital Archiving and Digitizing Services and 2D Drafting Services and
Detailing work. |
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Products : |
Ø 3D Modelling
Services and Data Translation Ø Reverse
Engineering Services Ø Pattern Tool
Design Ø Scanning Ø Digital Archiving
and Digitizing Services Ø 2D Drafting
Services and Detailing work |
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Terms : |
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Selling : |
Cash, Credit (30 – 90 days) |
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Purchasing : |
Credit (90 days), Purchase for Licenses |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
10 |
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Bankers : |
Development Credit Bank, J M Road Branch Pune, Maharashtra, India |
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Facilities: |
The concern do not enjoy facility from its bankers. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Jigar Karia Chartered Accountants |
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Mobile No.: |
91-9822233842 |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.000 millions |
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Borrowed : |
--- |
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Total : |
Rs. 2.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2008 (Estimated) |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
7.000 |
2.000 |
2.500 |
Expected Sales (2008-09): Rs. 8.000 millions
LOCAL AGENCY FURTHER
INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Detail |
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Existence Verification |
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Name |
ADVANCE CAD TECHNOLOGIES |
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Statutory Approvals |
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Legal Status of Firm |
Proprietorship Firm |
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Service Tax Registration |
AAGPF7972C ST 001 |
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Name of Bank |
Development Credit Bank |
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Current account Number |
402010000219 |
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Account Since |
4 years |
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Creditability Factors |
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India Mart Client Since |
3 years |
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Years of Establishment |
2001 |
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Standards and Certifications |
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Safety Certificates |
ISO 9001 : 2000 |
Trade References:
Ø Tata Sicosa Private Limited, Pune
Ø Force Motors
Ø Mahindra Engineering
Ø Mahindra and Mahindra, Pune
Ø John Deera Limited, Pune
WEBSITE DETAILS:-
Established in the year 2001, Subject is one of the leading CAD/CAM/CAE
turnkey project solution provider, 3d CAD services, 3d CAD conversion, 2d
drafting services, 2d drafting software in India. They are an experienced
technology company with a respected background in providing IT products and
services to commercial, government and education customers.
They are associated with some of the leading CAD/CAM/CAE solution provider and
their team of mechanical experts provides suitable services to various
organizations as per their requirements. They provide pre-implementation and
post implementation design and planning documentation. Their expertise lets
them provide a complete solution to address their customer's needs.
Many years of experience have taught them to focus on their core competencies
in selecting their range of products. In producing a solution for their
customers, they consider many things :
· Efficacy : The solution must achieve the desired result
· Affordability : The solution must fit the customer's budget
· Feasibility : The solution must consist of practically feasible tasks
· Performance : Must deliver good performance and reliability
· Usability : More accurately stated as ease of use
Infrastructure
Their
state-of-the-art Cad Center in Pune has been ergonomically/prudentially
designed. They use various kinds of software systems, database environments
along with multiple high-speed data communication links.
Team
They are backed by a team of young and experienced professionals from the
mechanical engineering field. There is a team of skilled conceptual designers
and manufacturing engineers who creates the layout as per clients
specifications. For accuracy in the project time, cost and manufacturing, their
engineering team works together with the manufacturing unit.
Hardware Resources
They are well equipped with all versions of HP, Sun and Intel based
systems for troubleshooting, upgrade info, downloads and more. They have
complete access to various other graphic terminals based on specific hardware
systems.
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 :
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.43.38 |
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UK Pound |
1 |
Rs.81.34 |
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Euro |
1 |
Rs.64.55 |
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 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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