MIRA
INFORM REPORT
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Report Date : |
05.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
TEXTILE MACHINERY MANUFACTURING COMPANY |
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Registered Office : |
Near Kamdar Maidan, Gomtipur Road, Ahmedabad 380 021, Gujarat. |
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Country : |
India |
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Financials (as on) : |
31.03.2008 (Estimated) |
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Year of Establishment : |
1943 |
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Legal Form : |
Sole Proprietory Concern. |
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Line of Business : |
Manufacturer and Exporter of Material Handling Equipment. |
RATING &
COMMENTS
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MIRAs 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 12500 |
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Status : |
Satisfactory |
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Payment Behavitheir : |
No Complaints. |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed concern having satisfactory
track. Trade relations are fair. Business is active. No complaints have been
heard. The concern can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Ajit Shah |
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Designation : |
Manager |
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Date : |
04.12.2008 |
LOCATIONS
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Registered Office/Factory : |
Near Kamdar Maidan, Gomtipur Road, Ahmedabad 380 021, Gujarat,
India. |
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Tel. No.: |
91-79-22941389 / 22941747 |
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Mobile No.: |
91-9428218001 / 9376114702 |
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Fax No.: |
91-79-22941822 |
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E-Mail : |
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Website : |
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Area : |
800 sq.ft. |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. Manan Gandhi |
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Designation : |
Proprietor |
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Age : |
54 years |
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Qualification : |
D.M.E |
KEY EXECUTIVES
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Name : |
Mr. Ajit Shah |
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Designation : |
Manager |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Material Handling Equipment. |
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Exports : |
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Countries : |
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Terms : |
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Selling : |
L/C, (30 days) |
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Purchasing : |
Credit (60 days) |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
24 |
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Bankers : |
Bank Of India New Cloth Market Branch Raipur, Ahmedabad, India. |
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Facilities : |
They enjoy cash credit facilities of Rs. 0.100 million from its
bankers. |
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Banking Relations
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- |
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Auditors : |
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Name : |
Dheerajlal Shah and Company Chartered Accountant Navrangpura, Ahmedabad, India. |
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Sister Concerns : |
Radiant Safedoors Private Limited GIDC Vatva Ahmedabad, India. |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.2.500 Millions (Estimated) |
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Borrowed : |
- |
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Total : |
Rs.2.500 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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12.500 |
Expected Sales (2008-09) : Rs. 12.500 Millions
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCES
Ψ
Modern Insulation Limited, Rajasthan
Ψ
Windsor Machines Limited, Ahmedabad
Ψ
Department of Atomic Energy, Hyderabad
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Additional Requirement of Indiamart for Trust-Seal |
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TIN : 24072100358
Date:- 30.09.2005 (confirmed by the management but cannot verify on line) |
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IEC Code : 0898003113
Date :- 31.07.1998 |
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PAN / TAN : ADRPG4533G |
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Bank Name : Bank
of India |
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Bank Address : New
Cloth Market Branch, Ahmedabad |
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Bank A/c. No.: 201030100000333 |
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Account Since : 15
years |
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In case of any affiliations / memberships / certifications
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Name : ISO |
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Type : 9001
:2000 |
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Expiry Date :
2010 |
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AS PER WEB SITE
DETAILS
CONCERN PROFILE
Subject is a concern based in Ahmedabad (Gujarat-India), established in 1943 as a small scale unit catering to the then existing myriad textile mills in the city. The name TRUCKMAN is synonymous with quality and performance across India.
Since then the concern has grown and kept in step with the needs of not only textile units but also most industries where materials handling equipments are used. From a small unit they are now a medium scale unit with two manufacturing facilities. They have progressed from simple equipments like trolleys and platform trucks to sophisticated hydraulic operated manual, electric and battery powered equipments to handle and move light and heavy materials quickly, safely, efficiently and economically. Their equipments can handle loads from 100 kgs to 10000 kgs.
They manufacture a wide range of materials handling equipments. These equipments have been designed after studying the various designs available and in use worldwide and adapting them to suit Indian operating conditions. Focus is on manufacturing robust, reliable, safe, simple to operate and maintain, durable quality equipments. This has earned us customer appreciation and repeat orders from all over India.
Manufacturing is backed by solid, professional after sales service support. Where necessary they depute their personnel for repairs. In most cases engineers in user industries are able to carry out repairs and they provide all spares promptly.
TRUCKMAN range of equipments enjoy a brand loyalty and they are grateful to all their clients for supporting us and enctheiraging us in their growth.
Customising equipments to suit user requirements is their other speciality. Such equipments are in use in various industries and their clients have placed repeat orders. Do you have a specific application or requirement and do not know which equipment to select? Let us know and they will suggest the best solution.
Their Range
Started as a small scale unit, today they are one of the distinguished
firms that is manufacturing and offering an extensive range of material
handling equipment that find application in different industries. Known for
durability, safety and easy maintenance, their range is satisfactorily catering
to the needs of varied industries that include petrochemical, paper and cement,
textile and many more. Their collection is comprised of :
Access and Work Platform
Scissors Lift Platform
Hydraulic Scissor Lift Table
Battery Operated Platform Truck
Battery Operated Pallet Truck
Hydraulic Pallet Truck
High Lift Pallet Truck
Hydraulic Stacker
Drum Stacker
Battery Operated Stacker
Mobile Hydraulic Battery Operated Floor Crane
Jib Crane
They are also offering professional after sales service support and where
necessary they depute their personnel for repairs.
Industries Served
Today they are one of the well-established organization that is meeting
the industries that require material handling equipment. The varied industries
that they are satisfactorily serving includes :
General engineering industries
Chemical petrochemical
Pharmaceuticals
Textile
Paper
Cement industries
Govt. semi govt. and public sector
Customization
Being one of the most experienced and reputed companies, they are offering
products and services that satisfactorily meet the demands of the clients.
Customization facility is the provision with the help of which they design and
develop equipment according to the specific requirements of clients. The
clients communicate us about their exact needs, on the basis of the information
communicated to us they fabricate equipment that are best suited for the
specific application, the client desires.
Quality Assurance
They are offering an
extensive range of material handling equipment that are designed and developed
after extensive research which ensures quality production. Every equipment is
properly tested and checked before they are dispatched to the customers. The
equipment are tested on the parameters of reliability, safety, efficiency,
response time, flexibility and maintenance issues. Effective quality control
measures that are diligently executed by their experienced quality managers
ensure the range they offer are zero-defect with superior functional features.
Infrastructure
Over the years they
have tremendously progressed from producing simple equipment like trolleys and
platform trucks to manufacturing sophisticated hydraulic operated manual,
electric and battery powered equipment that can handle and move light as well
as heavy material quickly, safely, efficiently and economically.
State-of-the-art infrastructure has played an important role in this
transformation.
With the backing of modern machinery and tools they are able design and develop
equipment with advanced functional features that match the complex requirement
of the customers. Time-to-time upgradation and modernization of their unit has
enabled them to offer sophisticated equipment that can handle loads from 100
kgs to 10000 kgs.
Their Team
Dexterous team is an
asset for a company that contributes immensely towards it success. They have a
team of highly qualified and experienced engineers who have sound understanding
of the making processes and an in-depth knowledge about the industrial needs.
With long-term experience in the field of manufacturing material handling
equipment, their workforce is able to manufacture equipment that perfectly
match with the market requirement. They also have a special team that offers
after sales service support to the clients. Where necessary they even depute
their personnel for offering repair services.
Clientθle
Their broad-based
and reputed clientθle speaks about their success story. Though started as small
scale unit, today they are one of the most experienced and reputed companies
that is catering to the needs of myriad customers. Their superior quality
equipment and excellent services of customization and after sales they have
earned appreciation of numerous clients in terms of repeated orders. They are
successfully serving the requirement of varied government as well private owned
industries. Some of the well-known companies who are fortunately included in
their customer list are :
Larsen and Toubro
Eimco Elecon
Crompton Greaves
Mahindra and Mahindra
M.I.C.O.
Hindustan Lever
Nova Petro Chemical Limited
Bharat Vijay Mills
Indian Rayon
Tata Textile
J.K. Synthetics
ISRO
CIPET
Tata Telecom
Why Them?
Superior quality equipment.
Diverse range.
Sound industry knowledge.
Experienced and qualified team.
State-of-the-art infrastructure.
Prompt delivery with effective after sales support.
Reasonable pricing.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various stheirces
including but not limited to: The Ctheirts, 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] Ctheirt 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 Intl
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 :
Their
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.
Their Governance Assessment focuses principally on the interactions
between a companys 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.49.79 |
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UK Pound |
1 |
Rs.73.37 |
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Euro |
1 |
Rs.63.08 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
8 |
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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 |
6 |
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--LEVERAGE |
1~10 |
6 |
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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 |
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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50 |
This score serves as a reference to assess SCs 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
unfavtheirable 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 |
Unfavtheirable & favtheirable 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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