MIRA
INFORM REPORT
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Report Date : |
11.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
PEMCO ENGINEERING |
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Registered Office : |
No. 3, Main Road, Kalathur Layout, Gangamma Circle, Jalahlli,
Bangalore-560013, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1996 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of Machinery Protection Equipments |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 2500 |
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Status : |
Small Concern |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern in its field. Trade relations
are fair. Scale of activity is limited. No complaints have been heard. The concern can be considered for small to mediocre business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Saji Mathew |
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Designation : |
Proprietor |
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Contact No.: |
91-91845185309 |
LOCATIONS
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Registered Office/ Factory : |
No. 3, Main Road, Kalathur Layout, Gangamma Circle, Jalahlli,
Bangalore-560013, Karnataka, India |
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Tel. No.: |
91-80-28385306/ 23643546/ 65994551 / 65302875 |
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Mobile No.: |
91-91845185309 |
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Fax No.: |
91-80-28385306 |
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E-Mail : |
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Website : |
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Area : |
+ 1000 sq.ft (Rented) |
SOLE PROPRIETOR
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Name : |
Mr. Saji Mathew |
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Designation : |
Proprietor |
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Date of Birth/Age : |
43 Years |
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Qualification : |
D.M.E |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Machinery Protection Equipments |
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Products : |
·
Bellows ·
Telescopic Covers ·
Rollway Covers ·
Apron Covers ·
Way Wipers |
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Terms : |
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Selling : |
Credit ( 30-60 Days) |
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Purchasing : |
Credit ( 30 Days) |
GENERAL
INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
10 |
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Bankers : |
Syndicate Bank, Jalhalli Branch, Bangalore, India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mr. Joseph Chartered Accountant |
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Address : |
Bangalore |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 0.500 Million |
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Borrowed : |
-- |
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Total : |
Rs. 0.500 Million |
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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3.000 |
Expected Sales (2008-09) : Rs. 3.500 Millions
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
·
Hindustan Machine Tools
·
HAL (Hindustan Aronatic Limited)
AS PER WEBSITE
Profile:
Started operating in 1996, Subject is manufacturer and
supplier of Bellows, Telescopic Covers, Steel Rollway Covers, Apron Covers and
Way Wipers. Renowned for manufacturing and supplying above mentioned products,
it is capable enough to deliver the finest engineering solutions for Machining
Centers, Heavy Duty Equipments and CNC Machines.
The complete range of products is developed using top quality raw materials,
sourced from reputed manufactures and suppliers. The Apron Machine Cover,
Cleaning Wiper, and Industrial Bellows are available at very cost effective
rates, suitable to customers’ budget affordability. Through the unrelenting
efforts to offer ultimate satisfaction to the customers, they have attained a
position of high repute in the industry.
Impeccable Quality
Bearing in mind the paramount importance of superb high performance of product,
many quality parameters of national as well as international standards are
followed according to customers’ specific requirements. Right from the
procurement of raw material to the delivery of fine finished products, a team
of QC (Quality Check) Experts monitor the quality of these products. Also, they
are passed through various physical tests to examine and enhance the durability
and their performance.
Strong Infrastructure
Strong infrastructure equipped with all the necessary state-of-the-art
facilities and supported by highly qualified professionals distinguishes them
in this business sphere and obtain a long list of reputed clients from distinct
industries. They boast of excellent transport facilities and a wide network of
suppliers and distributors guaranteeing smooth and on time delivery at the
desired place.
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.49.12 |
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UK Pound |
1 |
Rs.72.59 |
|
Euro |
1 |
Rs.63.52 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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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30 |
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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