MIRA
INFORM REPORT
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Report Date : |
28.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
DELTA ENGINEERS |
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Registered Office : |
10, Krishnakunj, 1187/23 , Ghole Road, Shivajinagar, Near ICICI Bank, Pune
– 411 005, 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 : |
2004 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNED04521G |
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PAN No.: [Permanent
Account No.] |
AAAFD8479Q |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturer and Exporter of Equipments used in Chemical, Pharmaceutical,
Paper and Pulp Industries of Industrial Goods |
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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Maximum Credit Limit : |
USD 5000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Mr. R B Kulkarni has no time to comply our information requirements. Subject appears to be a small concern. Trade relations are fair.
However, payments are reported as slow. In absence of require financials and business details, it would be
advisable to deal with the concern with some caution, at present. |
LOCATIONS
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Registered Office : |
10, Krishnakunj, 1187/23 , Ghole Road, Shivajinagar, Near ICICI Bank,
Pune – 411 005, Maharashtra, India |
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Mobile No.: |
91-9850329333 |
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E-Mail : |
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Location : |
Rented |
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Factory : |
W -100, S – Block, MIDC, Bhosari, Pune – 411 026, Maharashtra, India |
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E-Mail: |
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Area : |
6000 Sq.fts |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. S R Deshpande |
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Designation : |
Partner |
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Qualification : |
Engineer |
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Experience : |
30 years |
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Name : |
Mr. R S Kulkarni |
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Designation : |
Partner |
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Qualification : |
Engineer |
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Experience : |
30 years |
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Name : |
Mr. S U Garave |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Equipments used in Chemical,
Pharmaceutical, Paper and Pulp Industries of Industrial Goods |
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Products : |
· Bin Wash |
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Exports : |
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Products : |
Engineering Products |
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Countries : |
Denmark, Italy, UK |
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Terms : |
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Selling : |
Cash, Credit (30 days) |
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Purchasing : |
Cash, Credit (30 days) |
GENERAL
INFORMATION
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Customers : |
OEM’s, Wholesalers and Retailers · Alfa Laval (India) Limited, Pune · Alfa Laval A/s. Denmark · Alfa Laval A/s. Italy · Hat Limited, U.K. · Bechtochem (India) Private Limited. · Elkay Chemicals Private Limited. · Shirodkar Precicomp Private Limited. · Coca-Cola (India) Private Limited. · Indpro Engineering Systems Private Limited · Silicone International Products · Aquatex m/cs Private Limited. |
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No. of Employees : |
9 |
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Bankers : |
Not Divulged |
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Banking
Relations : |
---- |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.000 million (Estimated) |
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Borrowed : |
--- |
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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 (Estimated) |
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Sales Turnover |
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5.000 |
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCES:-
· Alfa Laval India Private Limited, Pune, Denmark and Italy
· Hat Limited, U.K.
· Bechtochem India Private Limited
WEBSITE DETAILS:-
Incepted in the year 2004, subject is the manufacturers and exporters of superior quality process equipments that are used widely in chemical, pharmaceutical, paper and pulp industries.
Under the leadership of Mr. R. B. Kulkarni and Mr. S. R. Deshpande, they have
achieved immense recognition in the global arena. They design and
fabricate their wide range of equipment by utilizing advanced production
methodology and produce quality intensive equipment used in varied industries.
In order to ensure finest quality of their products, they subject them to
various quality control mechanisms. Backed by a team of technocrats, they
utilize latest machinery to design and fabricate precision equipment as per the
instructions of their clients.
Their expertise expands over offering impeccable quality engineering products
to meet the exact requirements of their global buyers.
Theirs is a partnership firm that works under the profound guidance of their mentors Mr. R. B. Kulkarni and Mr. S. R. Deshpande who have extensive experience in engineering.
With their in-depth industrial experience of 30 years in the allied industry,
they have extensive knowledge of process industries such as Engineering,
Process and Pharmaceuticals.
They deal in a wide array of products, which serve varied industrial purposes and are acclaimed for their efficiency and durability. Their array of precision-engineered products includes:
· Reactors with agitators
· Pressure Vessel
· Heat Exchanger
· Bag Filter
· Cyclone
· Basket Filter
· Bin Wash
· Stainless Steel Piping
· Piping and Customized Component Fabrication.
These machines are
known for the following salient features:
· Compact design
· Better efficiency
· Stable metallurgical properties
· Less power consuming
· Easy maintenance
Their range of process equipments are manufactured from high-grade stainless steel such as SS 304, SS 316, SS 316L and duplex stainless steel.
Leveraging on their expertise and extensive industrial experience enables them to understand all the technical issues and offer accurate solutions to their clients. They are rendering their services through their products to the following industries:
· Chemical Industry
· Pharmaceutical Industry
· Food processing Industry
· Dairy products Industry
· Paper and pulp Industry
· Oil and Refineries
They have a well-equipped manufacturing unit that is empowered with all the latest production facilities for manufacturing top-notch quality equipments.
Their factory covers an area of 6000 sq ft and has an installed capacity of 15
tons to meet the bulk order demands of clients. They cater to designing,
engineering, manufacturing and customized fabrication of process equipments for
their clients. Their advanced machinery has helped them gain leverage in their
production range and capacity.
They are a professionally managed organization and have adequate expertise in the allied field of production of technically superior process equipments. Their adept workforce encompasses skilled and semi skilled workers, engineers, quality controllers and Clearing and Forwarding agents, who work adroitly to cater to bulk requirements of their clients in a well defined time frame.
Further their welders are highly experienced and qualified as per ASME
standard.
Their quality control department acts as the basis of all their organizational activities and they are committed to deliver premium quality products for their clients. They aim at delivering only quality proven equipment to their clients to gain optimum satisfaction.
Their quality controllers keep a strict look on each stage of production and ascertain
that they offer reliable equipment for their clients in diverse industry.
Their quality analysts subject the procured raw materials to strict testing
conditions, in order to test their chemical and physical composition. They have
also undertaken various jobs under third party inspection agencies.
Since inception, their
prompt services and precision-engineered equipment have fueled the growth of
their organization.
Their quality products and prompt delivery of products has helped them build up
a prolific relationship to make some eminent clients. Some of their major
clients are:
· Alfa Laval (I) Limited ., Pune
· Alfa Laval A/s. Denmark
· Alfa Laval A/s. Italy
· Hat Limited, U.K.
· Bechtochem (I) Private Limited.
· Elkay Chemicals Private Limited.
· Shirodkar Precicomp Private Limited.
· Coca-Cola (I) Private Limited.
· Indpro Engineering Systems Private Limited
· Silicone International Products
· Aquatex m/cs Private Limited.
They have made a mark in the process control equipment industry, due to the following reasons:
· Exceptional Technical Expertise
· Flexibility to incorporate clients’ specifications.
· Optimum customer satisfaction
· Consistent quality
· Timely Delivery
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 |
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US Dollar |
1 |
Rs.43.73 |
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UK Pound |
1 |
Rs.80.57 |
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Euro |
1 |
Rs.64.29 |
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 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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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 |
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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29 |
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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