MIRA
INFORM REPORT
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Report Date : |
26.12.2008 |
IDENTIFICATION DETAILS
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Name : |
EVR ELECTRICALS |
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Registered Office : |
No.212, New Tiny Sector, ( |
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Country : |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment: |
1998 |
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PAN No.: [Permanent
Account No.] |
AAGPE5873M |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of all kinds of Transformers, Panel Boards and Chillers. |
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 : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established concern having steady business. Trade
relations are fair. Payments are usually correct and as per commitment. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office/Factory/Head Office: |
No.212, New Tiny Sector, ( |
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Tel. No.: |
91-44-42189694 |
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Mobile No.: |
91-9444043636 |
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Fax No.: |
91-44-26253673 |
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E-Mail : |
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Area : |
1200 Sq.ft. |
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Location : |
Rented |
PROPRIETOR
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Name : |
Mr. R. Elumalai |
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Designation : |
Proprietor |
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Date of Birth/Age : |
35 Years |
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Qualification : |
Dip. In. Electronics |
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Experience : |
15 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of all kinds of Transformers, Panel Boards and Chillers. |
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Terms : |
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Selling : |
On Credit 30 days basis |
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Purchasing : |
Credit (15-30 days) |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Around 24 |
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Bankers : |
Indian Overseas Bank, Annangar, Chennai – 600 040 |
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Facilities : |
About Rs.1.000 Millions |
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Banking
Relations : |
-- |
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Auditors : |
M/s. Balu and Company |
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Chartered Accountant |
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Address : |
Chennai |
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Associates/Subsidiaries : |
NIL |
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 |
31.03.2007 |
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Sales Turnover |
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15.000 |
10.000 |
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Profit/Loss for the year |
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10% |
10% |
Inventories: Rs.1.000 Millions
Expected Sales (2008-09) : Rs.20.000 Million
LOCAL AGENCY FURTHER INFORMATION
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Additional Requirement of Indiamart for Trust-Seal |
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Service Tax No. : AAGPE5873MST001 |
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Excise Registration No.: MXM001 |
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VAT / TIN : 03395441862 (Claimed by the
management can’t be verified online) |
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PAN / TAN : AAGPE5873M |
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Bank Name : Indian Overseas Bank |
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Bank Address : Annanagar, Chennai
– 600 040 |
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Bank A/c. No.: 5992 |
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Account Since : Since 10 Years |
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Additional Information |
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SSI Regn No: 330112444 |
AS PER WEBSITE
PROFILE:
Established in the year 1998, Subject has strengthened itself
as the recognized manufacturer and Domestic Suppliers of an assortment of
Industrial Transformers, panels and Regrigerations of different Capacities for
Varied Applications.
They have always focused on upgrading our facilities, technologies and range of
transformers in order to remain ahead from their competitors. A well equipped
manufacturing facility supported by a qualified and dedicated team of
engineers, technicians and skilled workmen assure quality output.
Their dedication has always been towards
client satisfaction, through incessant process improvisation. This has enabled
them to be competitive world-wide with
regards to quality, cost and delivery.
Under the dynamic leadership of their
chairman Mr. R. Ezhumalai, they
have been progressing well.Due to his active policy of reviewing
their unit at regular intervals has
enhanced their status as a modern production unit. Altogether their prime concern is centered in reliability and
complete client satisfaction of their
valued clients.
PRODUCT
PROFILE:
To sustain their quality-assurance and to ascertain
their product value, they make use of excellent brands of raw materials
in their products such as Copper wires and
strips as per IS Standards from standard manufacturing Companies. They use CRGO, CRNGO Laminations and standard
insulating material from genuine OEM Companies of which some are imported.
Their wide range of transformers
includes General Purpose Control Transformer, Isolation Transformer, Furnace
Transformer, Ultra Isolation Transformer, Rectifier Transformer, Loading
Transformer, Scott Connection Transformer, Distribution Transformer, Power
Transformer, Potential Transformer, HT/LT Rolling contact Type, Regulator
(AVR), L T Servo Stabilizer, Auto Transformer, MCC Panel, PCC Panel, APFc
Panel, Cubical Switch Board, Switch Gear Panel, Rittal Enclosure and Cabinets Panel Cooler, Oil Chiller, Water
Chiller, Air - Air Heat Exchanger, Air - Water Heat Exchanger.
Following
are some of the features of their range:
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Durable
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Highly Reliable
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Available in various Specifications
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Technically advanced
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Superior functionality
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Can withstand voltage fluctuations
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.48.99 |
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1 |
Rs.72.49 |
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Euro |
1 |
Rs.68.44 |
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 |
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 |
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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