MIRA INFORM REPORT
|
Report Date : |
28.08.2008 |
IDENTIFICATION DETAILS
|
Name : |
INDO
US MIM TEC PRIVATE LIMITED |
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|
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|
Formerly Known As : |
AF TECHNOLOGIES (INDIA) PRIVATE LIMITED |
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Registered Office : |
3-6-539/A, Street No. 7, Himayat Nagar, Hyderabad – 500 029, Andhra
Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
12.04.1996 |
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Com. Reg. No.: |
01-23794 |
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CIN No.: [Company Identification
No.] |
U28110AP1996PTC023794 |
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TAN No.: [Tax Deduction & Collection Account No.] |
HYDA01407A
/ BLRI03284B |
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|
Legal Form : |
Private
Limited Liability Company |
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|
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|
Line of Business : |
Manufacturer
and Supplier of Metal Injection Moulding |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
3000000 |
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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 and reputed company having satisfactory track. Trade
relations are fair. Financial position is satisfactory. Payments are usually
correct and as per commitments. The
company can be considered good for normal business dealings at usual trade
terms and conditions. |
INFORMATION PARTED BY
|
Name
: |
Mr.
Balasubramaniam |
|
Designation
: |
C.F.O |
|
Date
: |
28.08.2008 |
LOCATIONS
|
Registered Office : |
3-6-539/A, Street No. 7, Himayat Nagar, Hyderabad – 500 029, Andhra
Pradesh, India |
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Tel. No.: |
91- 40-27634967 / 27971418 |
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Fax No.: |
91-80-27971624 |
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E-Mail : |
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Website:
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Administrative
Office: |
294, 7th
Cross, Domlur Layout, Bangalore – 560 071, Karnataka, India |
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Factory
/ Corporate
Office: |
45 (P), KIADB Industrial Area, Hoskote, Bangalore-562114, Karnataka,
India |
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Mobile No.: |
91-80-27971418
/ 27971416 / 27971717 / 7971 624 / 27971533 |
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Fax
No.: |
91-80-27971624 |
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E-Mail
: |
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Website
: |
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Overseas
Office 1: |
U.S.A. |
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Overseas
Office 2: |
315,
Eisenhower Parkway, Suite # 211, Ann Arbor, MI 48108 |
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Tel
No.: |
1-734-327-9842,
1-734-327-9872 |
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Fax No.: |
1-734-327-9873 |
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E-Mail
: |
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Website
: |
DIRECTORS
|
Name
: |
Mr.
Krishna Chivukulla |
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Designation
: |
Chairman and Managing Director |
|
Address
: |
3-6-539/A,
Himayatnagar, Hyderabad – 500 029, Andhra Pradesh, India. |
|
Date
of Appointment : |
12.04.1996 |
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Name
: |
Mrs.
C. L. Sastry |
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Designation
: |
Director |
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Address
: |
3-6-539/A,
Himayatnagar, Hyderabad – 500 029, Andhra Pradesh, India. |
|
Date
of Appointment : |
12.04.1996 |
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|
Name
: |
Mr.
Gaurav Swarup |
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Designation
: |
Director |
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Address
: |
2B,
Judges Court Road, Calcutta – 700 027, West Bengol, India. |
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Date
of Appointment : |
02.06.1996 |
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|
Name
: |
Mr.
Ajeet Khare |
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Designation
: |
Managing
Director |
|
Address
: |
141,
First Main, Second Stage, West of Chord Road, Bangalore – 560 086, Karnataka,
India. |
|
Date
of Appointment : |
01.09.2001 |
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|
|
|
Name
: |
Mr.
Schmid Peter |
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Designation
: |
Director |
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Address
: |
S/o,
Wilhelm, 7, Villa Delmar, Ambalipura, Bangalore, Karnataka, India. |
|
Date
of Appointment : |
02.06.2003 |
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|
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|
Name
: |
Mr.
Chivukula Jr. Krishna |
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Designation
: |
Director |
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Address
: |
Foreign
: 8026, Summerview Drive, Fayetteville, Newyork, USA, 13066 Indian
: 30, Church Street, Bangalore – 1. |
|
Date
of Appointment : |
30.09.2004 |
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|
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|
Name
: |
Mr.
Chivukula Raj |
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Designation
: |
Director |
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Address
: |
Foreign
: 8026, Summerview Drive, Fayetteville, Newyork, USA, 13066 Indian: 30,
Church Street, Bangalore – 1. |
|
Date
of Appointment : |
30.09.2004 |
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|
Name
: |
Mrs.
Jagadamba Chandrasekhar |
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Designation
: |
Director |
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Address
: |
Foreign
: 6260, South Bay Road, Cicero, Newyork 13039, USA Indian : 30, Church
Street, Bangalore – 1 |
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Date
of Appointment : |
30.09.2004 |
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|
Name
: |
Mr.
Pradip Panalal Shah |
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Designation
: |
Director
|
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Address
: |
72 A
Embassy Apartments, 7th Floor, Napean Sea Road, Mumbai – 400 006,
Maharashtra, India |
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Date
of Birth/Age : |
07.01.1953 |
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Date
of Appointment : |
27.10.2007 |
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Name
: |
Mr.
John Anthony Dexheimer |
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Designation
: |
Director
|
|
Address
: |
61 Morningside
Drive, West Port, Connecticut 06880 |
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Date
of Birth/Age : |
13.09.1954 |
|
Date
of Appointment : |
27.10.2007 |
KEY EXECUTIVES
|
Name
: |
Mr.
Balasubramaniam |
|
Designation
: |
C.F.O |
MAJOR SHAREHOLDERS / SHAREHOLDING
PATTERN
|
Names
of Shareholders |
No. of Shares |
|
Mr.
Krishna Chivukula |
100 |
|
Mrs.
C. Lalitha Sastri |
100 |
|
Total |
200 |
|
Names
of Share Allotted (As on 31.03.2007) |
No. of Shares |
|
Mr. Ajeet Khare |
326816 |
|
Mr. P Balasubramaniam |
60000 |
|
Mr. Jagadish Holla |
50000 |
|
Mr. M Vijaya Kumar |
50000 |
|
Dr. T S
Shivashankar |
50000 |
|
Mr. D Raja Reddy |
10000 |
|
Mr. S Sinivasulu |
32000 |
|
Mr. R Sai Krishna Rayalu |
32000 |
|
Mr. Ravbi Bapatia |
32000 |
|
Mr. G Umamahesh Verma |
32000 |
|
Mr. M Giriyappa |
30000 |
|
Mr. N V Ramana Reddy |
15000 |
|
Mr. G B Parameshwarappa |
15000 |
|
Mr. A Venkata Ramu |
10500 |
|
Mr. N M Gopi |
5000 |
|
Mr. G Natrajan |
3500 |
|
Mr. Gopalakrishna V Jahag |
1500 |
|
Mr. M Shankar |
5000 |
|
Mrs. Vinita
Sidhathan |
890 |
|
Ms. Renny Periera |
550 |
|
Mr. H C
Parashurama |
780 |
|
Mr. S Jayaram |
540 |
|
Mr. N Bhaskar Reddy |
300 |
|
Mr. S Abdul
Rahim |
380 |
|
Mr. K Ramprasad |
380 |
|
Mr. R Premanand |
1080 |
|
Dr. K Krishna Rao |
40000 |
|
Mr. T K Chattopadyay |
50000 |
|
Mr. Suresh |
50000 |
|
Mr. M S Krishna |
2000 |
|
Mr. Manoj Kabre |
20000 |
|
Mr. B Ravi Kumar |
2000 |
|
Mr. Phanindra Babu |
5000 |
|
Mr. N
Sreekanth |
1360 |
|
Mr. Manjunath |
500 |
|
Mr. J Sreenivasulu |
1360 |
|
Mr. Balaji Singh |
500 |
|
Mr. K
Manjunath |
500 |
|
Mr. Vaijinath |
500 |
|
Mr. J V Ratnakara Rao |
500 |
|
Mr. S Srinivas |
620 |
|
Mr. N V Srinivasan |
500 |
|
Mr. Lakshminarayana |
560 |
|
Mr. Sunil P |
260 |
|
Mr. Chidananda K M |
220 |
|
Mr.
Gnanaprahasam J |
220 |
|
Mr.
Venakta Krishna A |
220 |
|
Mr. Venkatesh A |
150 |
|
Mr. Saravanan M |
130 |
|
Mr. Karthick G |
220 |
|
Mr. Manjunatha B Ullagaddi |
130 |
|
Mr. Sandeep SM |
220 |
|
Mr. Raghavendra R |
110 |
|
Mr. Chinna Thambi S |
100 |
|
Mr. Peter Suresh V |
130 |
|
Mr. Ramana Gowda |
220 |
|
Mr. Santosh Kerudi |
90 |
|
Mr. Prashant |
70 |
|
Mr. Satyabrata Das |
10 |
|
Mr. Kotresh N |
100 |
|
Mr. Basavaraj H Sangapur |
70 |
|
Mr.
Nagaraj Naik |
30 |
|
Mr. Jawahar
A |
30 |
|
Mr. Ravikumar BK |
460 |
|
Mr. Kendaganna Swamy |
260 |
|
Mr. Raghavendra S |
250 |
|
Mr. Sunil Kumar Chaubey |
30 |
|
Mr. Shiva Shankar K |
110 |
|
Mr. Sugnana Murthychary |
80 |
|
Mrs. Savitha |
430 |
|
Mr. Venkatesh Bairy |
590 |
|
Mr. Soma
Krsihna Anand HR |
330 |
|
Mr. Ravi
AN |
280 |
|
Mr. Keshav Raju |
470 |
|
Mr. Umesh BC |
240 |
|
Mr. Vinay
D Kurlageri |
450 |
|
Mr. Senthil SR |
450 |
|
Mr. Vishwanathan AM |
450 |
|
Mr. Ramachandra
K |
80 |
|
Mr.
Bindumadhav H |
380 |
|
Mr. Ujwal Uday Kumar |
330 |
|
Mr. Sivasankara K |
250 |
|
Mr. Mohan Sajjan |
250 |
|
Mr. Satish
SN |
440 |
|
Mr. Sriram KG |
80 |
|
Mr. Uday Bhandodkar |
80 |
|
Mr. Venkatesh S |
390 |
|
Mr. Ravi Kumar |
350 |
|
Mr
Mallikarjuna Raju MN |
350 |
|
Mr. Ashok Kumar |
350 |
|
Mr. Akhilijit Wangkheimayun |
160 |
|
Mr. Jamal Kumar G |
330 |
|
Mr. Malgave Sachin Shrikant |
250 |
|
Mrs. Manjunath B |
100 |
|
Mr. Murugesha S |
190 |
|
Mr. Atish T G |
280 |
|
Mr. Prashanthkumar Shetty |
190 |
|
Mr. Venugopal N |
190 |
|
Mr. Muthukumaran P |
170 |
|
Mr. Ravi H |
220 |
|
Mr. Dayakara Reddy V |
180 |
|
Mt. Srihari Prasad R |
180 |
|
Mr. Shankar SN |
80 |
|
Mr. Chandiran M |
310 |
|
Mr. P S Babu |
100 |
|
Mr. Jebber Hussain S |
170 |
|
Mr. Subramanya S N |
50 |
|
Mr. Sharanappa A Hilson Samuel |
170 |
|
Mr. Giriprasad |
280 |
|
Mr. Seenappa A |
230 |
|
Mr. Hilson Samuel |
530 |
|
Mr. Arun Kumar A S |
290 |
|
Mr. Raghunand M A |
230 |
|
Mr. Tyagaraj |
10 |
Equity
share break-up (percentage of total equity) (As on 31.03.2007):-
|
Category |
Percentage |
|
Foreign Holdings (Foreign Institutional Investor(s),
Foreign Companie(s), Foreign Financial Institution(s), Non – Resident
Indian(s) or Overseas Corporate Bodies or Others |
90.00 |
|
Directors or
relatives of director |
10.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
and Supplier of Metal Injection Moulding |
|
|
|
|
Exports
: |
|
|
Countries : |
USA |
|
|
|
|
Imports
: |
|
|
Countries : |
Germany,
Singapore, China |
GENERAL INFORMATION
|
No. of Employees : |
220 |
|
|
|
|
Bankers : |
· Bank of Baroda, Palace Orchards Branch, Bangalore – 560 080, Karnataka. · IDBI Bank, Bangalore, Karnataka. · State Bank of India, Over Seas Branch, No. 66, St. Mark’s Road, Bangalore – 560 001. · Industrial Development Bank of India Limited, IDBI Tower Complex, Cuffe Parade, Mumbai – 400 005, Maharashtra, India. · ING Vysya Bank · Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227 D Nariman Point , Mumbai 400 021, w.e.f. 29.01.2001, Mumbai – 400 021, Maharashtra, India |
|
|
|
|
Facilities : |
IDBI Bank The company
enjoys Rupee Loan total sanctioned and availed Rs. 25.000 millions
(outstanding as on 31.03.2003 Rs. 21.250 millions |
|
|
|
|
Banking Relations : |
Satisfactory
|
|
|
|
|
Auditors : |
|
|
Name I: |
P.
Murali Mohan Rao Chartered
Accountant |
|
Address 1 : |
6-3-655/2/3,
Somajiguda, Hyderabad – 500 082, Andhra Pradesh, India |
|
Address 2 : |
No.
361, 1st Floor, 13th Main , RMV Extension, Bangalore –
560 080, Karnataka, India |
|
|
|
|
Name II: |
U
Lakshmoji Rao Chartered
Accountants |
|
|
|
|
Associates/Subsidiaries : |
Shiva Analyticals (India) Limited, 3-6-539/A,
Street No. 7, Himayat Nagar, Hyderabad – 500 029, Andhra Pradesh, India. Shiva Chemicals Technologies (India)
Private Limited, 3-6-539/A,
Street No. 7, Himayat Nagar, Hyderabad – 500 029, Andhra Pradesh, India |
CAPITAL STRUCTURE
(As on 31.03.2007)
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
12000000 |
Equity Shares |
Rs. 10/- each |
Rs. 120.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
11942257 |
Equity Shares |
Rs. 10/- each |
Rs.
119.423 millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS
FUNDS |
|
|
|
|
|
1]
Share Capital |
119.423 |
108.939 |
100.002 |
|
|
2]
Share Application Money |
0.000 |
0.000 |
8.937 |
|
|
3]
Reserves & Surplus |
289.016 |
173.373 |
81.767 |
|
|
4]
(Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
408.439 |
282.312 |
190.706 |
|
|
LOAN
FUNDS |
|
|
|
|
|
1]
Secured Loans |
697.788 |
450.275 |
266.660 |
|
|
2]
Unsecured Loans |
0.400 |
0.400 |
1.207 |
|
|
TOTAL BORROWING |
698.188 |
450.675 |
267.867 |
|
|
DEFERRED
TAX LIABILITIES |
57.773 |
46.625 |
38.811 |
|
|
|
|
|
|
|
|
TOTAL |
1164.400 |
779.612 |
497.384 |
|
|
|
|
|
|
|
|
APPLICATION
OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED
ASSETS [Net Block] |
671.612 |
540.575 |
293.631 |
|
|
Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX
TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT
ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
111.483
|
69.930 |
47.798 |
|
|
Sundry
Debtors |
405.330
|
250.683 |
130.739 |
|
|
Cash
& Bank Balances |
85.661
|
22.383 |
28.957 |
|
|
Other
Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans
& Advances |
98.556
|
91.596 |
56.312 |
|
Total Current
Assets |
701.030
|
434.592 |
263.806 |
|
|
Less : CURRENT LIABILITIES &
PROVISIONS |
|
|
|
|
|
|
Current
Liabilities |
121.754
|
155.395 |
41.680 |
|
|
Provisions |
86.539
|
40.263 |
18.526 |
|
Total Current
Liabilities |
208.293
|
195.658 |
60.206 |
|
|
Net Current Assets |
492.737
|
238.934 |
203.600 |
|
|
|
|
|
|
|
|
MISCELLANEOUS
EXPENSES |
0.051 |
0.103 |
0.153 |
|
|
|
|
|
|
|
|
TOTAL |
1164.400 |
779.612 |
497.384 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales
Turnover (including other income) |
1049.932 |
721.013 |
480.601 |
|
|
Total
Income |
1049.932 |
721.013 |
480.601 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
166.914 |
131.389 |
81.261 |
|
|
Provision for Taxation |
56.729 |
38.372 |
16.507 |
|
|
Profit/(Loss) After Tax |
110.185 |
93.017 |
64.754 |
|
|
|
|
|
|
|
|
Export Value |
929.217 |
493.125 |
345.363 |
|
|
|
|
|
|
|
|
Import Value |
NA |
137.514 |
77.624 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Financial Charges |
76.794 |
44.182 |
22.245 |
|
|
Depreciation & Amortization |
59.395 |
42.518 |
24.917 |
|
|
Other Expenditure |
746.829 |
502.924 |
352.178 |
|
Total
Expenditure |
883.018 |
589.624 |
399.340 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT /
Total Income |
(%) |
10.49
|
12.90 |
13.47 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
15.89
|
18.22 |
16.91 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.16
|
13.47 |
14.58 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.41
|
0.46 |
0.43 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.22
|
2.29 |
1.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.37
|
2.22 |
4.38 |
LOCAL AGENCY FURTHER INFORMATION
profile
Subject
is in Bangalore, India produces MIM parts using American know-how. It is a group
Company of Shiva Technologies Inc., USA, the global leader in Ultra Trace
Element Analysis of materials. Shiva Laboratories are located in USA, France
and India.
The
company has been in operation for over three years. In addition to capturing
100% of the Indian market for metal injection molded
components, subject as exported significant volumes to leading companies
located in the United States of America, Germany, France, Italy, Israel,
South Africa, Singapore, Malaysia, Czech Republic, Spain and Japan.
The
company's unique ability to mold components of highly complex geometries with
precision and speed ensures that its customers' large volume requirements
can be met with quality and speed. Also its capability to offer the best
American technology at competitive prices provides a significant advantage to
its customers all over the world.
MIM components are produced at a 40,000 sq. ft, state-of-the-art facility in
Bangalore, India, with engineers trained in USA. The company has a branch
office in Ann Arbor, Michigan to serve the needs of customers in USA and a
customer support office at Brescia, Italy.
It is in
collaboration and buyback with Advanced Forming Technologies Inc., USA on the
outskirts of Bangalore.
USA. It has been in operation for over three years. MIM components are produced in 50,000 Sq Ft. state - of - the - art facility in Bangalore, India. The company unique ability to mold components of highly complex geometries with precision and speed ensures that its customer s' large requirements can be met with quality and speed
Product Description
They manufacture complex shaped metal components as per customer drawing.
Application areas are- Telecommunication, Power tools, Lock Industry, Auto
Industry, Camera parts, Watch Industry, Consumer Industry, Fire Arm Industry,
Sewing Machine Industry.
Form 8:-
|
Corporate
identity number of the company |
U28110AP1996PTC023794 |
|
Name
of the company |
INDO –
US MIM TEC PRIVATE LIMITED |
|
Address
of the registered office or of the principal place of business in India of the company |
3-6-539/A, Street No. 7, Himayat Nagar, Hyderabad – 500 029, Andhra
Pradesh, India |
|
This
form is for |
Modification
of charge |
|
Type
of charge |
· Book Debts · Movable Property · Floating Charge |
|
Particular
of charge holder |
ING
Vysya Bank limited 22
Ground Floor, ING Vysya housed, M G Road, Bangalore – 560 001, Karnataka,
India E-Mail:
mgroadbr@ingvysyabank.com |
|
Nature
of instrument creating charge |
Supplemental
general hypothecation agreement |
|
Date
of instrument Creating the charge |
29.03.2008 |
|
Amount
secured by the charge |
Rs.
375.000 millions |
|
Brief of
the principal terms an conditions and extent and operation of the charge |
Rate of Interest : ODSIT
BD : IVRR -2.50% WCDL
(Sub limit of ODSITY BD ) : IVRR -4% p.a
or FTP +200 bps whichever is higher LC/ BG
: No change TL: No
change Terms of Repayment : ODSIT BD : On Demand LC/BG : No change Margin : ODSIT
BD : 25% on stock and book debts WCDL
(sub limit of ODSIT BD ) : 25% on
stock and book Debts PCL /
PSL (Sub limit of ODSIT BD) :PCL : 15% and PSL : Nil TL: No
change Extent and Operation of the charge : First
exclusive charge on the current asset of the company First
charge on the fixed assets of the company on pari-passu with IDBI and Exim
Bank. Others : Nil |
|
Short
Particulars of the property charged |
Current
assets and fixed assets of the company (Movables) at 45 P, KIADB Industrial
Area, Hoskote, Bangalore or anywhere else. |
|
Particulars
of the present modification |
The
total limit has been enhanced from Rs. 285.000 millions to Rs. 90.000
millions ODSIT BD
of Rs. 245.000 millions (including sub limit of WCDL of Rs. 245.000 millions and PCL / PSL of Rs. 30.000
millions, WCDL is fully interchangeable and PCL / PSL are interchangeable to
the extend of Rs. 30.000 millions The
hypothecation of the property of the company extended to the hence limit. All
other terms and condition remain same. |
|
Name of the company |
INDO US MIM TEC PRIVATE LIMITED |
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Presented By |
P. BALASUBRAMANIAN – GENERAL MANAGER FINANCE |
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|
1) Date and description of instrument creating the change |
23.12.2004 1) Agreement of Hypothecation of Goods and Assets 2) Agreement of Loan Over Limit |
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2) Amount secured by the charge/amount owing on the securities of charge |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
1. First charge on the current assets of the company on paripassu basis with IngVysya Bank and State Bank of India |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Sanction Letter Enclosed Dated 21.11.2004 Ref. No. OSB/RM-11/65 Dated 02.11.2004 And No. OSB/CPC/RM-2/149 Dated 19.07.2005 |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of India Over Seas Branch, No. 66, St. Mark’s Road, Bangalore – 560 001 |
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6) Date and brief description of instrument modifying the charge |
21.07.2005 1) Agreement of Hypothecation of Goods and Assets 2) Agreement of Loan Over Limit |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
EXISTING LIMITS
|
WEBSITE
DETAILS:-
Subject has been in operation for five years in the field of Metal Injection
Molding. It is a group company of Shiva Technologies Inc., USA, the global leader
in Ultra Trace Element Analysis of materials. Shiva Laboratories are located in
USA, France and India.
In addition to capturing 100% of the Indian market for metal injection molded
components, subject has exported significant volumes to leading companies
located in USA, Germany, France, Italy, Israel, South Africa, Singapore,
Malaysia, Czech Republic, Spain, Japan, Turkey, Netherlands, Finland,
Switzerland, Phillipines and Austria.
They have developed over 600 varieties of components since inception. Their capability to offer the world's best technology at competitive prices provides a significant advantage to their customers all over the world.
MIM components are produced at their 250,000 sq.ft, state-of-the-art facility
in Bangalore, India, with engineers trained in USA. Subject has a branch office
and warehouse in the US.
Metal Injection Molding - A Unique Process
Raw Material
Fine metal powder
sourced from leading manufacturers, forms the basic raw stock which
is thoroughly blended.
Compounding
Mixes the blended
powder with thermoplastic binders into a feedstock.
Molding
The feedstock is
injection molded to form green parts.
Debinding
Removes the binder
partially and produces brown parts.
Sintering
Removes all the
remaining plastic content from the brown parts, followed by inter particle
diffusion, resulting in the final components.
Finished Parts
After sintering, the
net shape components are ready without any secondary operations.
Design
Advantages :
·
Complex shaped 3
dimensional parts with very little machining or no machining.
·
Profile holes at
angles to each other.
·
Well defined
internal threads, external threads and
knurled features on the outer surface of part.
·
Protrusions,
studs, any text, logo etc. on the outer surface.
·
Wall thickness as
low as 0.5 mm and hole dia as low as 0.5 mm.
Metallurgical
Advantages :
·
Chemistry close
to the choice.
·
Isotropic,
homogenous microstructure with no blow holes.
·
Co-molding of two
different materials for better application.
·
Precise control
of density, weight etc.
The Malleability of
Plastic, The Tenacity of Steel
Subject ably bridges
the gap between metal and plastic by applying the science of plastic
injection molding to hard, high-melting alloys. The resultant advantage is
flexibility in design with the capability to produce complex shaped components,
in large volumes in a cost-effective manner. With Metal Injection Molding
(MIM), surge volumes and deadlines can easily be dealt with.
This unique technology involves injecting a feedstock of virgin metal powder
and a proprietary binder system into a mold. The binder is removed from the
green part by a proprietary rebinding process and the part is then sintered.
The result is a highly dense, complex shaped MIM part, exhibiting wrought
material like properties.
What makes MIM so attractive is the fact that the process is fast and flexible,
with the capability to produce millions of parts per year. Further, the
technology guarantees superior surface finish and shape integrity.
SECONDARY
OPERATIONS:
Like wrought material
components, MIM parts are suitable / amenable etc. for any secondary operations
that need to be carried out after sintering. These include :
·
Heat Treatment /
Case Hardening
·
Conventional
Machining
·
Grinding / Honing
·
Tumbling /
Burnishing
·
Electro-Polishing
/ Plating
·
Welding
During sintering, the
parts shrink dimensionally by about 20% as they shed their binder content. Yet,
their expertise ensures that they retain geometry and the desired tolerance.
Effective July ‘06, many countries have strict regulations regarding chrome plating. Suppliers of chrome-plated parts are expected to comply with RoHS standards. Trivalent chrome is the next generation chrome plating process, which is both environment friendly and RoHS compliant. Trivalent chrome plating helps eliminate toxic products from the electro plating process.
The trivalent chrome plating facility available at their plant will help meet
current worldwide regulations. Their plant is fully automatic and process
controlled. It has a state-of-the-art effluent treatment plant for effective
disposal of effluents generated during the process. The plating process is
carried out on metallic parts i.e. steel and copper. Parts are first bright
nickel plated followed by trivalent chrome plating. The plating results are
highly consistent and reliable. Their plating facility offers the following
benefits:
· Consistency coating thickness.
· Plating colour of the choice and consistency.
· On-time delivery.
· Competitive prices.
· In-house polishing facility.
Facility Future
Driven
Subject is constantly striving
towards excellence in every facet of the organization. Supported by a
state-of-the-art plant and young specialized team, the company has put in place
a system that manages and maintains world-class quality at every step.
A team of expert designers uses Pro-E, solid modeling software, to render intricate part designs into CAD drawings. The CAD function is supported by CAM, which helps translate the designs into the process of mold-making
Captive tool room assures product quality right from the tooling stage.
Backed by contemporary quality assurance equipment like CMM and 2D machines, in addition to state-of-the-art lab, subject ensures quality both in metrology and metallurgy, making it an ISO 9001:2000 and ISO/TS 16949:2002 certified Company
American trained metallurgists in Metal Injection Molding, continue to develop new MIM materials and binders to constantly improve the technology. A state-of-the-art laboratory provides the required support to test: pycnometer density, feed stock rheology, micro-structures and hardness of sintered / finished products to ensure mechanical and metallurgical quality.
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
|
Currency |
Unit
|
Indian Rupees |
|
US
Dollar |
1 |
Rs.43.73 |
|
UK
Pound |
1 |
Rs.80.57 |
|
Euro |
1 |
Rs.64.29 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP
CAPITAL |
1~10 |
6 |
|
OPERATING
SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT
LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT
POINTS |
|
|
|
--BANK
CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER
ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT
POINTS |
|
|
|
--SOLE
DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT
ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER
MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses
an extremely sound financial base with the strongest capability for timely
payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable
& favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute
credit risk exists. Caution needed to be exercised |
Credit not recommended |
|
NR |
In
view of the lack of information, we have no basis upon which to recommend credit
dealings |
No Rating |
|