MIRA
INFORM REPORT
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Report Date : |
31.12.2008 |
IDENTIFICATION DETAILS
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Name : |
PRABHA INDUSTRIES |
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Registered Office : |
No. 86/1, Kumbalgodu Industrial Area, Phase – 2, Off |
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Country : |
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Financials (as on) : |
31.03.2008 (Estimated) |
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Year of Establishment : |
1972 |
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Legal Form : |
Reported to be Partnership Concern. |
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Line of Business : |
Manufacturer and Exporter of Press Tools for Automotive, Electrical
and Appliance Industries. |
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 25000 |
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Status : |
Moderate |
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Payment Behaviour : |
No complaints |
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Litigation : |
Clear |
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Comments : |
Subject seems to be a pretty old concern in its field. Trade relations
are reported as fair. The management declined to part with any details.
However no complaints have been heard. The concern can be considered normal for business dealings with slight
caution, initially. |
INFORMATION DECLINED BY
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Name : |
Mr. Chandrasekhar |
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Designation : |
Manager |
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Date : |
29.12.2008 |
LOCATIONS
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Registered Office : |
No. 86/1, Kumbalgodu Industrial Area, Phase – 2, Off |
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Tel. No.: |
91-80-28437391 |
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Fax No.: |
91-80-28437256 |
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E-Mail : |
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Website : |
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Location : |
Owned |
SOLE PROPRIETOR/PARTNERS/DIRECTORS
NOT AVAILABLE
KEY EXECUTIVES
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Name : |
Mr. Chandrasekhar |
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Designation : |
Manager |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Press Tools for Automotive, Electrical
and Appliance Industries |
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Exports : |
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Countries : |
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GENERAL INFORMATION
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Customers : |
OEM’s |
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No. of Employees : |
Around 70 |
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Bankers : |
NA |
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Banking
Relations : |
-- |
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.5.000 Millions (estimated) |
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Borrowed : |
-- |
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Total : |
Rs.5.000 Millions (estimated) |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2008 [ESTIMATED] |
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Sales Turnover |
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40.000 |
LOCAL AGENCY FURTHER INFORMATION
AS PER WEBSITE:
GROUP PROFILE:
Subject is a leading manufacturer of Automotive Sheet Metal
Assemblies and Dies in
The group was established over three decades ago and has manufacturing
locations in Chennai,
SUBJECT DYTEK PROFILE
Established in 1972, Subject is engaged in design and manufacture of Sheet Metal Tools/ Dies and Check Fixtures used in Automotive, Electrical and Appliance Industries.
Subject’s modern facility is located in the serene suburbs
of
Their association with European Tool and Die Makers has provided an opportunity and experience in working with overseas customers.
Their clientele include automotive majors like Honda, Fiat, Faurecia, Cummins, Toyota, Valeo, Comau, Hongo, Tata Motors, Ashok Leyland, Maruti Udyog, Hindustan Motors, Bajaj Auto, Eicher Motors, TVS, Mahindra to name a few
TOOLS AND DIES:
LINE / STAGE DIES
& PROGRESSIVE DIES FOR 3-D SHEET METAL PARTS to perform all standard stamping operations
like Drawing, Crash Forming, Blanking, Piercing, Trimming, Part Off Etc.
COMPOUND /
PROGRESSIVE DIES FOR 2-D SHEET METAL PARTS
HOT STAMPING DIES
FOR SYNCHRONIZER RINGS.
FIXTURES:
Check Fixtures
Designed and Manufactured to customer specifications.
Hemming Fixtures for
Doors and Other Class-A Parts
Welding Fixtures /
PLP Racks for Prototype and Production Builds
ENGINEERING SERVICES:
Die Design - Prabha
Dytek’s CAD / CAM Group offers Die & Press Tool Design Services. 2-D and
3-D Designs can be done to suit customer needs.
Check Fixture and
Weld Fixture Design
Prototyping – Prabha
Dytek is well equipped to offer Prototyping Services. We supply Soft Tool Parts
and Dies to suit customer needs.
Reverse Engineering
– In the absence of CAD data of the component, Prabha Dytek can digitize and
generate surface models from the given component.
Stamping Simulation /
Formability Analysis – We can perform formability analysis using “AUTOFORM” and
make Part Design / Process Change Recommendations
INFRASTRUCTURE:
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Group |
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Captive Power
Generation |
315 KVA capacity |
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Quality Systems
Certification |
ISO 9001 |
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Material Handling
Capacity |
15 Tonnes |
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Manufacturing |
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Machine |
Make |
Size (Travel in mm) |
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Wire Cut EDM |
AGIE, Swiss |
300x200x250 |
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Jig Grinder |
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400x300x200 |
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Jig Boring |
WMW, |
1100x700x700 |
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Jig boring |
ACIERA, Swiss |
320x200x200 |
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CNC Milling |
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1800x950x450 |
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CNC Milling |
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1200x600x600 |
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CNC Milling |
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3000x1800x1000 |
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CNC Milling |
Pinnacle |
1000x600x600 |
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Hydraulic Press
400 T |
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2000x1500x900 |
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Mechanical Press
650 T |
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2750x1500x1100 |
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Hydraulic Press
1200 T |
Prabha |
2000x3500x700 |
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And host of
Conventional tool room machines. |
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Vendor Base
Wire EDM
• CNC Milling
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• CMM
QUALITY ASSURANCE:
Their Dytek is ISO 9001 certified, ensuring quality from incoming material to outgoing finished product. Each Project starts with Forming Simulation using AutoForm. The Die Process is established with consideration to Blank Utilization and Die Line-up. The entire process culminates with CMM certified parts as required by the customer.
Our large volume of repeat orders speaks of our customers’ appreciation of our Quality
AUTOMOTIVE CUSTOMERS:
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OTHER
CUSTOMERS
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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.48.50 |
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1 |
Rs.70.02 |
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Euro |
1 |
Rs.67.95 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
4 |
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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 |
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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33 |
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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