MIRA
INFORM REPORT
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Report Date : |
25.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
S S ENGINEERS |
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Registered Office : |
F-2/56, MIDC, Pimpri, Pune – 411 001, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1980 |
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PAN No.: [Permanent
Account No.] |
ABTPB8149F |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Sugar Plants with High Pressure Boilers. |
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 100000 |
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Status : |
Good |
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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. Management denied audited financial statements. 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. Abhishek Dole |
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Designation : |
Chief Executive Officer |
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Contact No.: |
91-9822070838 |
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Date : |
20.08.2008 |
LOCATIONS
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Registered Office : |
F-2/56, MIDC, Pimpri, Pune – 411 001, Maharashtra, India |
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Tel. No.: |
91-20-22070838/ 30612300 |
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Fax No.: |
91-20-30612318 |
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E-Mail : |
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Area : |
1800 Sq. ft. |
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Location : |
Owned |
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Factory : |
J – 79, MIDC, Bhosari, Pune - 411 001, Maharashtra, India |
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Tel. No.: |
91-20-46768124 |
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Area : |
3400 Sq. meter |
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Location : |
Owned |
PROPRIETOR
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Name : |
Mr. S B Bhad |
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Designation : |
Proprietor |
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Date of Birth/Age : |
58 Years |
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Qualification : |
B.E. Mechanical |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Sugar Plants with High Pressure Boilers. |
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Products : |
v Stainless
Steel Patented Mills |
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Exports : |
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Countries : |
v Fiji |
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Terms : |
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Selling : |
Credit ( 20 days) |
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Purchasing : |
L/C |
GENERAL
INFORMATION
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Customers : |
v TATA Chemicals Limited v Bajaj Hindustan Limited v Shri Prabhulingeshwara Sugar v Balrampur Sugar Mills Limited v Shree Kedarnath Sugar and Agro Product Limited v Birla Sugar Mills Limited v Shree Chhatrapati Shahu SSK. v Parle Biscuits Private Limited v Nirani Sugars Limited v The Fiji Sugar Corporation Limited v Dwarakadhish SK Limited v The Simbhaoli Sugar Mills Limited v The Ugar Sugar Works Limited v The Andhra Sugars Limited v Upper Ganges Sugar and Industries Limited |
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No. of Employees : |
135 |
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Bankers : |
v Bank of India Shivajinagar, Pune – 411 001, Maharashtra, India |
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Facilities : |
L/C |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Sancheti and Associates Chartered Accountants |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 20.000 millions (Estimated) |
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Borrowed : |
-- |
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Total : |
Rs. 20.000 millions (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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2210.000 |
Expected Sales (2008-09): Rs. 2580.000 millions
LOCAL AGENCY
FURTHER INFORMATION
Trade References
v
Bajaj Sugar Hindustan – Uttar Pradesh
Trust Seal Acceptance Chart
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Parameters |
Details |
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Existence Verification |
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Name |
S S Engineers |
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Statutory Approvals |
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Legal Status of Firm |
Proprietorship |
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Income Tax Registration |
ABTPB8149F |
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VAT/TIN Registration |
27720293315V |
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Excise Registration |
ABTPB8149FXM 001 |
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Name of Bank |
Bank of India |
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Trade Affiliations |
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SSI Registration |
PNA Public 29256 Public A99 |
As Per Website details
Since its inception in the year 1980, Subject has been constantly providing all-round solutions for the establishment of various industrial plants like sugar plants, co-generation plants, instrumentation and electrical systems. They take utmost care during the quality testing of the products and make sure that they are at par complying with international standards.
Under the able and competent guidance of the mentor Mr. S.V. Bhad, they have carved a niche in the segment of
expertise by achieving overwhelming progress throughout all the way during the
existence of more than two decades. They have the latest designing and
manufacturing facilities that allow us to provide technologically advanced and
custom-made products as per the clients’ requirements. It is due to the
outstanding services that they have succeeded in making a strong base of the
clientele which includes some major names like TATA, Bajaj, Hindusthan, GSR and
many others.
Industries Cater
v Chemical Industry
v Sugar Industry
v Agro Industry
v Pharma Industry
They have catered to several companies holding big names in their
respective fields like TATA, BAJAJ, HINDUSTHAN, GSR etc.
Infrastructure
They possess a
sophisticated manufacturing plant spread over an ample space of 35000 sq. feet
with its two manufacturing units. It has the installed capacity of 30000 units.
The unit has four heavy machining and manufacturing workshops which admeasure
1800, 3400, 5700 and 6000 sq. m. respectively. These workshops are well
equipped with latest machineries, equipments and handling facilities to meet
the demands of completing several projects at a time.
In addition to these workshops, they also have testing facilities to carry out
rigorous testing on the products. The manufacturing assets are manned by
experienced and well qualified workforce. The in-house design unit helps us in
providing customized solutions to the clients as per their required
specifications for respective applications or establishment of industrial
plants. In order to cater to the increasing demand from the industry, they are
coming up with an additional world class manufacturing facility on 12 acres of
land in near future.
Team
In adherence to deliver quality
products and services, they manage to have an experienced and competent team of
qualified professionals among which the technical department has qualified
engineers, machine operators, skilled and semi-skilled workers. The
administration part is handled by management professional who have wide
expertise as administrators. Out quality assurance unit comprises of skillful
quality experts and test engineers. They also have a dedicated team for
research and development which includes expert R and D associates with ample
research experience altogether.
Research
and Development
Striving
to deliver the best-in-class products, they are always innovative in opting new
and advanced technologies. To achieve bigger heights in the domain, they have a
team of over 50 CAD engineers who are associated with research and development.
This R and D team is managed by senior-level professionals who are hand picked
from respective industries. These experts are constantly engaged in
assimilating latest technologies and developments pertaining to across the
globe.
These technologically advanced outcomes of research and development are further
converted into innovations and passed on to the relevant industries time to
time. Thus, these help in better plant operations and enhanced performances.
Customer
Satisfaction
They ought to
serve the customers achieving their utmost satisfaction. They are destined to
deliver best services with timely delivery. They provide customized solutions
of the products as per the specified requirements of the clients.
They also offer customized packaging solutions for the products. The in-house
design unit is well-equipped with CAD/CAM facilities to fulfill the customized
needs of the customers. All these have made us outstanding in gaining top notch
acceptance among the prestigious client base across the globe. And they are
continuously striving to serve all of them better day by day.
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 concern is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
The 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.
The 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. 80.31 |
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Euro |
1 |
Rs. 60.16 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
YES |
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TOTAL |
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54 |
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, they have no basis upon which to
recommend credit dealings |
No Rating |
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