MIRA
INFORM REPORT
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Report Date : |
02.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
ASHOKA TECHNOLOGIES |
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Registered Office : |
A-15, Mayapuri Industrial Area – I, New Delhi – 110 064 |
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Country : |
India |
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Financials (as on) : |
31.03.2008 (Estimated) |
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Year of Establishment : |
1968 |
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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 Industrial Gears, Gear Reducers, Casting,
forgings. |
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 400000 |
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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 a well – established and reputed concern. Trade relations
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. Gautam Khanna |
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Designation : |
Partner |
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Contact No.: |
91-9810296963 |
LOCATIONS
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Registered Office / Factory : |
A-15, Mayapuri Industrial Area – I, New Delhi – 110 064, India |
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Tel. No.: |
91-11-28115308 / 28116570 / 28115422 / 28116602 / 03 |
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Mobile No.: |
91-9810296963 (Mr. Gautam Khanna) |
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Fax No.: |
91-11-28115250 |
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E-Mail : |
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Website : |
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Area : |
10000 Sq. fts. |
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Location : |
Owned |
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Overseas Office
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P.O. Box 1335, McMurray, PA 15317, USA |
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Tel. No.: |
724 969-2565 |
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Fax No.: |
724 942-2558 |
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E-Mail : |
PARTNERS
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Name : |
Mr. Gautam Khanna |
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Designation : |
Partner |
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Date of Birth/Age : |
33 years |
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Qualification : |
Engineer |
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Name : |
Mr. Raman Khanna |
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Designation : |
Partner |
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Date of Birth/Age : |
53 years |
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Qualification : |
Graduate |
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Experience : |
25 years |
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Mobile No.: |
91-9810296963 |
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Name : |
Mr. Gaurav Khanna |
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Designation : |
Partner |
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Date of Birth/Age : |
23 years |
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Qualification : |
Post Graduate |
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Name : |
Mrs. Nilu Khanna |
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Designation : |
Partner |
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Date of Birth/Age : |
56 years |
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Qualification : |
Post Graduate |
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Name : |
Mrs. Satvadi Khanna |
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Designation : |
Partner |
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Date of Birth/Age : |
80 years |
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Qualification : |
Graduate |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Industrial Gears, Gear Reducers, Casting,
forgings. |
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Products : |
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Agencies Held : |
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Exports (Countries) : |
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Terms : |
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Selling : |
L/C, Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL
INFORMATION
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Customers : |
End Users · Sugar Industry · Rolling / Steel Industry · Cement Industry · Chemical and Mineral Industry · Paper and Pulp Industry · Rubber Industry · Power Industry · Mining Industry · Other Heavy Equipment Industry · Port Trust Authority |
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No. of Employees : |
400 |
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Bankers : |
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Facilities : |
Cash Credit – Rs. 25.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
L N Mallik and Company Chartered Accountant |
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Membership : |
· CII · FICCI · EEPC · IOD · Chamber of Commerce |
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Associates/Subsidiaries : |
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Name : |
Ashoka Machine Tools Corporation |
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Address: |
A-15, Mayapuri Industrial Area – I, New Delhi – 110 064, India |
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No. of
Employees: |
90 |
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Sales Turnover: |
Rs. 39.000 millions (31.03.2006) Rs. 52.300 millions (31.03.2007) |
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Name : |
Ashoka Technologies |
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Address: |
P.O. Box No. 1335m McMurray, PA 15317, USA |
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Tel No.: |
724 969 -2565 |
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Fax No.: |
724 942-2558 |
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E Mail: |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs. 100.000 millions (Group) |
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Borrowed : |
---- |
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Total : |
Rs. 100.000 millions (Group) |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2008 |
31.03.2007 (Group) |
31.03.2006 (Group) |
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Sales Turnover |
200.000 |
200.000 |
200.000 |
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCES:-
· BHEL
· SAIL
· TRF
WEBSITE DETAILS:-
Company Profile
Subject is an Indian concern established in the year 1968 as a small
machine shop with concentration in manufacturing of open gearing and machining job
work. It has ever since grown into a multi-functional group of companies
expanding its manufacturing range to a wide variety of core heavy duty
industrial equipment such as ball mills, vertical shaft and rotary kilns, sugar
crushing mills and stone crushers, crystallizers, centrifugal machines, filter
presses, separators, material handling equipment such as bucket elevators,
screw and belt conveyors, air slides, cane unloading, cutting and feeding
machinery, fabricated storage hoppers and tanks, spare parts such as large
diameter gears, gear reducers, pinion shafts, bull rings, rollers, kiln tyres,
trunion bearings and a number of customized cast/forged components.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 50.09 |
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UK Pound |
1 |
Rs. 76.68 |
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Euro |
1 |
Rs. 63.48 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
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 |
YES |
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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/normal. |
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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