MIRA
INFORM REPORT
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Report Date : |
08.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHIVAM AUTO INDUSTRIES |
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Registered Office : |
Near Nanaksar Dharam Kanda, Sua Road Dhandhari Kalan, Industrial Area –
C, Ludhiana – 141 010, Punjab |
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Country : |
India |
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Financials (as on) : |
31.03.2008 (Estimated) |
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Year of Establishment : |
1996 |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturer of Tractors and Earth Moving spare Parts and Allied Products |
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 5000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established concern having satisfactory track
records. Business is steady. Trade relations are fair. Payments are reported
as slow but correct. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Gaurav Sharma |
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Designation : |
Partner |
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Contact No.: |
91-9814384728 |
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Date : |
23.10.2008 |
LOCATIONS
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Registered Office/ Factory : |
Near Nanaksar Dharam Kanda, Sua Road Dhandhari Kalan, Industrial Area
– C, Ludhiana – 141 010, Punjab, India |
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Tel. No.: |
91-161-2512924 |
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Mobile No.: |
91- 9814384728 / 9417001067 / 9814023687 |
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Fax No.: |
91-161-2545461 |
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E-Mail : |
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Area: |
2500 sq. mtrs. |
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Location : |
Owned |
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Corporate Office
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Nirankari St. No. 6, Miller Ganj, Ludhiana-141 003, Punjab, India |
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Tel. No.: |
91-161-2530318/4627273 |
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Location: |
Owned |
PARTNERS
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Name : |
Mr. Gautam Sharma |
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Designation : |
Partner |
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Date of Birth/Age : |
28 years |
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Qualification : |
Graduate |
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Experience: |
6 Years |
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Name : |
Mr. Gaurav Sharma |
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Designation : |
Partner |
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Date of Birth/Age : |
31 years |
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Qualification : |
Post Graduate |
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Experience: |
8 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Tractors and Earth Moving spare Parts and Allied Products |
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Products : |
· Leveling and Top Link Assembly · Earth Mover Steel and Gun Metal Bushes |
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Exports: |
Wanted to start Exports |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS
Capacity to increase production by: 50%
GENERAL
INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
32 (6 in Office and 22 in Factory
and 4 in Branches) |
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Bankers : |
· HDFC Bank, Ludhiana, Punjab, India ·
Union Bank of India , Ludhiana, Punjab, India |
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Facilities : |
The concern does not enjoy facility from its bankers. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Satpal Sharma and Company Chartered Accountants |
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Address : |
Ludhiana, Punjab, India |
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Associates/Subsidiaries : |
Ambika Agro Engineer, Ludhiana, Punjab, India |
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) |
31.03.2007 (Estimated) |
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Sales Turnover |
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12.500 |
10.000 |
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Profit/Loss for the year |
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12% |
12% |
Expected Sales (2008-09): Rs. 15.000 millions
LOCAL AGENCY
FURTHER INFORMATION
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Additional
Requirement of Indiamart for Trust-Seal |
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VAT / TIN : 03481119266 |
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IEC Code : Applied |
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PAN / TAN : AAUF51458A |
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Bank Name : HDFC Bank Limited, Union Bank of India |
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Bank Address :Ludhiana,
Punjab, India |
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Bank A/c. No.:02592560006791 |
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Account Since : 2 years |
Note: Applied for ISO Certificate
WEBSITE DETAILS:-
Concern
Profile
Incepted in the year 1996, the concern is the manufacturers, exporters and suppliers of a wide range of industrial components, tractor and earth mover spare parts, pivot pins, tractor chains, industrial fasteners, industrial forgings, top link assembly and allied products that are widely used in different industries. Their range is available in varied sizes and patterns as per the client’s requirements.
They are efficiently supported by a team of well qualified workforce having
years of experience with them. Their stringent dedication towards product
improvement and client oriented approaches has assisted us to find out a huge
clientele spread at every corner of the globe. Owing to their manufacturing
unit they are able to design their assortment as per the market demand.
Supervision of their experienced and dedicated mentor, Mr. Gaurav Sharma has
helped a lot in boosting up the abilities of their workforce. Owing to his
suggestions they are able to secure a top class position in the industry.
Product Portfolio
They offer a comprehensive range of products that are manufactured from EN-8D, mild steel and are widely used in various industries. Their range includes Fasteners, Hydraulic Pin, Earth-Movers Spare Parts, Tractor Spare Parts, Bolts 5bush Bucket Pin Bush Steel, Pivot Pins, Tractor Chains, Pivot Center Pin Bush Gun Metal, Bush Alloy Steel, Wear Sleeve Elkey Bolt, Dipper Ram Rod Bush, Housing Elkey Bolt, Teeth Bolt L and T 580 with nut Alloy Steel and Side cutter bolt L and T Alloy Steel.
Following are the distinguishing
features of their range:
· Durable
· Wear and tear resistant
· Sturdy construction
· Dimensional accuracy
· Perfect finishing
Team
Owing to their skilled and dedicated team they are able to attain a
special position for their selves in the industry. They are proud to recruit a
team of experienced and qualified engineers, technicians, quality controllers,
marketing representatives, administrators, and skilled workforce who are
proficient in their particular work areas. Their industrial experience helps us
to fabricate and offer their range as per the client requirements.
Further, their product development group works to make sure long-term growth
through the development of world class products at reasonable prices.
Infrastructure
With the support of their well built infrastructure, they are able to
manufacture their wide range of product according to the demand of the
competitive market.
Their strong infrastructure is fully equipped with all the latest machines that
are required for designing their gamut. Besides this their infrastructures is
sprawling in an area of 700 sq ft and have the install capacity of 300 units.
Following machines are installed in
their manufacturing units:
· Forging hammers
· Power presses
· Grinders
· Automatic lathes
· Copyings
· CNC
Quality Assurance
They are one of the quality aware organizations and follow stringent
quality control systems at each and every stage of their procedure to make sure
about the quality.
To ensure that their widespread clients get the qualitative range, they are
severely adhering to quality assurance policy that is successfully implemented
by their quality controllers. Their quality control system inspects all the
stages of manufacturing and dispatching process, including purchase of raw
material, storing and delivery of the final products.
The various quality parameters on which
their products are tested include:
· Durability
· Tensile strength
· Dimensional Accuracy
· Resistance to corrosion
· Chemical composition
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.69 |
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UK Pound |
1 |
Rs.72.96 |
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Euro |
1 |
Rs.63.46 |
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
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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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. |
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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