MIRA
INFORM REPORT
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Report Date : |
30.12.2008 |
IDENTIFICATION DETAILS
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Name : |
S.B. ENGINEERING |
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Registered Office : |
182, |
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Country : |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
2007 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of Textiles Machines. |
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 5000 |
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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 new and 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. Velusamy |
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Designation : |
Manager |
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Contact No.: |
91-9842259207 |
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Date : |
29.12.2008 |
LOCATIONS
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Registered Office/Factory : |
182, |
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Tel. No.: |
91-422-2533869 |
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Mobile No.: |
91-9842259207 (Mr. K. Velusamy) |
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E-Mail : |
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Website : |
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Area : |
1000 Sq.ft. |
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Location : |
Rented |
PROPRIETOR
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Name : |
Mrs. V. Sindhu |
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Designation : |
Proprietor |
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Date of Birth/Age : |
22 Years |
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Qualification : |
HSC |
KEY EXECUTIVES
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Name : |
Mr. Velusamy |
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Designation : |
Manager |
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Mobile No : |
91-9842259207 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Textiles Machines. |
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Products : |
Ø
Textile Printing Machines Ø
Manual Type Fusinq machines Ø
Automatic Fusinq Machines Ø
Automatic Transfer Print Machines Ø
Conveyor Type Drying System Ø
LGB Gas Heaters Ø
Printing Dryer |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash |
GENERAL INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
Around 7 |
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Bankers : |
Canara Bank, Ganapathy Branch, |
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Banking
Relations : |
-- |
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Auditors : |
Mr. Gurumurthy |
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Chartered Accountant |
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Address : |
Ganapathy, |
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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 |
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Sales Turnover |
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5.000 |
Expected Sales (2008-09) : Rs.10.000 Millions
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCES
- Vedant Traders – Pune
- G.K. Tech -
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Additional Requirement of Indiamart for
Trust-Seal |
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VAT / TIN : 33642205277 |
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PAN / TAN : CAJPF2530L |
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Bank Name : Canara Bank |
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Bank Address : Ganapathy Branch, |
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Bank A/c. No.: 2987201000184 |
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Account Since : 1 Year |
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AS PER WEBSITE:
PROFILE:
Coined in 2007, Subject is a reputed name engaged in
manufacturing and exporting a wide range of textile machines which are used for
preparing of various fabrics. All these machines are environmentally safe and
also made with precision and accuracy. Under the guidance of their founder
member Mr. Velusamy., they have made tremendous improvements in this domain.
Their mentor has 12 years of experience in this industry and have taken them
onto new heights.
All their production processes are streamlined and function according to the
desired pattern so that the production targets can be met. They have set up a
team of highly qualified and trained workforce who work in complete
coordination and harmony with each other. Their devised quality management
system is completely unique and flawless and they follow each and every step to
design and manufacture such high performing products in order to meet their
clients expectations.
PRODUCT
PROFILE:
Adhering to impeccable quality,
specialized features and high performance, they have achieved a maximum degree
of customer appreciation for their products resulting in worldwide customer base.
All their products including Textile
Printing Machines, Manual Type Fusing Machines, Automatic Fusing Machines,
Transfer Print Machines,
Conveyor Type Drying System, LGB Gas Heaters, Printing Dryer are
made using premium quality iron and other alloys which are procured from
reliable sources. All these products are engineered to perfection and are
rugged in construction as well as robust in design.
Their range of products are made with technical superiority and provide
extraordinary accuracy and speed. With various features like easy to maintain,
corrosion resistant, enhanced performance, durability, rugged design, high
capacity and variable speed, their products are designed and developed
according to the drawings and specifications provided by the clients.
QUALITY ASSURANCE:
They have various departments
like admin, production and sales in order to assist in the production process
and meet the desired turnover with ease. Their production facility is
completely geared up and streamlined to fulfill their clients requirement. In
addition to their world class infrastructure, they possess a team of dedicated
personnel who are trained to use latest machines that are incorporated at their
premises. Their pool of engineers and technocrats come up with innovative ideas
for machines that can give an impetus to the production capacities of their
customers.
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 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] 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.48.76 |
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1 |
Rs.71.68 |
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Euro |
1 |
Rs.69.17 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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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 |
3 |
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--LEVERAGE |
1~10 |
3 |
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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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27 |
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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