MIRA INFORM REPORT

 

 

 

Report Date :

01.12.2008

 

IDENTIFICATION DETAILS

 

Name :

SIGMA ELECTRICALS

 

 

Registered Office :

S – 22, MIDC, Hingna Road, Nagpur 440 016, Maharashtra.

 

 

Country :

India

 

 

Financials (as on) :

31.03.2008

 

 

Year of Establishment :

1995

 

 

IEC No.:

0307007952

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

NGPS06964G

 

 

PAN No.:

[Permanent Account No.]

AAEFS9055K

 

 

Legal Form :

Partnership Concern with an unlimited liability of the partners.

 

 

Line of Business :

Manufacturers and Vendors of Power Control Centres, Motor Control Centres and Power Distribution Borads (PDB), Pressed Component, Industrial Safety Ladder.  

 

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

 

Maximum Credit Limit :

USD 25000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well-established and reputed concern having satisfactory track. Trade relations are fair. Business is active. No complaints have been heard from market sources.

 

The concern can be considered good for normal business dealings.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Mukund Joshi

Designation :

Partner

Contact No.:

91-9373127537

Date :

29.11.2008

 

 

LOCATIONS

 

Registered Office :

S – 22, MIDC, Hingna Road, Nagpur 440 016, Maharashtra, India

Tel. No.:

91-7104-232322, 0712-3252767/ 2246578 (R),

Mobile No.:

91-9373127537

Fax No.:

91-7104-237184

E-Mail :

sigmaelect@gmail.com

Area :

1000 sq. meters

Location :

Owned

 

 

Factory / Warehouse :

U-54, MIDC Industrial Area, Hingna Road, Nagpur 440 016, Maharashtra, India

Tel. No.:

91-7104-234916/237184

E-Mail :

primecap@sify.com

Area :

600 sq. meter

Location :

Owned

 

 

PARTNERS

 

Name :

Mr. Mukund Moreshwar Joshi

Designation :

Partner

Address :

1, Ramkrishnan Nagar, Pratapnagar Road, Nagpur, Maharashtra, India

Date of Birth/Age :

48 Years

Qualification :

B. E. Mech.

 

 

Name :

Mrs. Kanchan Mukund Joshi

Designation :

Partner

Address :

1, Ramkrishnan Nagar, Pratapnagar Road, Nagpur, Maharashtra, India

Date of Birth/Age :

42 Years

Qualification :

B. Tech.

 

 

Name :

Mr. Pradeep Keshavrao Butte

Designation :

Partner

Address :

Yashoda Apartments, Keshav-Madhav Nagar, Jaltala Road, Nagpur, Maharashtra, India

Date of Birth/Age :

47 Years

Qualification :

B. E. Mech.

 

 

Name :

Mrs. Rashmi Pradeep Butte

Designation :

Partner

Address :

Yashoda Apartments, Keshav-Madhav Nagar, Jaltala Road, Nagpur, Maharashtra, India

Date of Birth/Age :

42 Years

Qualification :

B. Com.

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturers and Vendors of Power Control Centres, Motor Control Centres and Power Distribution Borads (PDB), Pressed Component, Industrial Safety Ladder.  

 

 

Products :
  • Motor Control Centre
  • Power Control Centre (PCC)
  • Power Distribution Board (PDB)
  • Pressed Metal Components
  • Safety Ladder (For Wind Mill Tower)
  • Modular Kitchen
  • Electrical Control Panel

 

 

Terms :

 

Selling :

On Credit upto 30-60 days basis

 

 

Purchasing :

On Credit basis 

 

 

GENERAL INFORMATION

 

Customers :
  • End Users
  • OEM’s

 

 

No. of Employees :

Around 50

 

 

Bankers :

Shikshak Sahakari Bank Limited, Dharampeth Branch, Nagpur 440 010, Maharashtra, India 

 

 

Facilities :

The Concern enjoys Cash Credit facility from its banker.

 

 

Auditors :

 

Name :

Sagdeu and Company

Chartered Accountants

Address :

Nagpur, Maharashtra, India

 

 

CAPITAL STRUCTURE

 

Capital Investment :

 

Owned :

Rs. 5.000 millions (Estimated)

Borrowed :

Nil

Total :

Rs. 5.000 millions (Estimated)

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

 

 

31.03.2008

Sales Turnover

 

 

120.000

 

Expected Sales (2008-09) : Rs. 120.000 millions.

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Subject is Authorized Vendors for:

 

Trade References:

 

 

ADDITIONAL REQUIREMENT OF INDIAMART FOR TRUST-SEAL

 

Service Tax No. : AAEFS9055K

Excise Registration No.: AAEFS9055K XM001, XM002

VAT / TIN : 27970017117V DT. 01.04.2007

IEC Code : 0307007952

 

PAN : AAEFS9055K

 

Bank Name : Shikshak Sahakari Bank Limited

Bank Address : Dharampeth Branch, Nagpur 440 010, Maharashtra, India

Bank A/c. No.: 308

Account Since : 5 Years

Registration No.: RQ91 / 4701

 

IN CASE OF ANY AFFILIATIONS / MEMBERSHIPS / CERTIFICATIONS :

Name : ISO

Type : 9001:2000

Expiry Date : 2010

 

 

 

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.49.84

UK Pound

1

Rs.76.81

Euro

1

Rs.64.38

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

4

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--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

NO

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

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

 

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

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions