MIRA
INFORM REPORT
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Report Date : |
07.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
SUNUPRIGHT INC INDUSTRIAL SERVICES |
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Registered Office : |
3rd Milestone, Near Sector – 5 Chowk Railway, Road, Gurgaon
– 122001, Haryana |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
2005 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RTKS09712D |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
To make commissioning of power presses and other equipments related to
auto 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 2000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern in its field. Trade relations are
fair. Business is active. Payments are reported as slow but correct. The concern can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
3rd Milestone, Near Sector – 5 Chowk Railway, Road, Gurgaon
– 122001, Haryana, India |
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Tel. No.: |
91-124-4079490/91/92 |
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Mobile : |
91-9213231514 |
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Fax No.: |
91-124-4079492 |
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E-Mail : |
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Website : |
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Area : |
350 sq. mtrs. |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Pankhaj Kalra |
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Designation : |
Partner |
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Address : |
Gurgaon |
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Date of Birth/Age : |
42 years |
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Qualification : |
Electrical Engineer |
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Experience : |
17 years |
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Name : |
Mr. Subhas Makkar |
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Designation : |
Partner |
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Address : |
Gurgaon |
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Date of Birth/Age : |
32 years |
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Qualification : |
Mechanical Engineer |
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Experience : |
8 years |
BUSINESS DETAILS
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Line of Business : |
To make commissioning of power presses and other equipments related to
auto industries. |
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Imports : |
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Products : |
Representation |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit (30 days) |
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Purchasing : |
L/C, Cash and Credit (30 days), Sight against documents |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
10 |
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Bankers : |
State Bank of Patiala, Gurgaon |
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Banking
Relations : |
Satisfactory |
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Auditors : |
Not Regular |
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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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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9.800 |
9.600 |
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Profit/Loss for the year |
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0.830 |
0.770 |
LOCAL AGENCY
FURTHER INFORMATION
Website details:
Subject was founded by two engineers, in August 2005. With a
background of working with OEM vendors and direct involvement, on behalf of the
concern, with prime OEM as Ford India. Through out the time concern
successfully achieves its vast experience and satisfied customers.
Concern has team of construction professionals includes civil engineers,
construction managers, project engineers, project superintendents, and office
support staff. They understand and live the construction process. They
understand how tough it can be to get a new building project started. Issues
like site selection, financing, permitting and zoning must be addressed prior
to breaking ground. Maintaining schedules and maximizing budgets also play a
major role in a successful construction project. They believe in educating
their customers throughout the building process.
Vision
- The vision of
the concern is to attain market leadership in its area of working thus
reduce costs by increasing volumes and to gain by team up of happy Vendors
and delighted Customers.
- The Goal is
to provide to each customer “A Transparent, ownership based work execution
and to do so with absolute harmony at site to an extent where CUSTOMER
DELIGHT sets in.”
Services
- Heating,
ventilation and air conditioning
- Design/build
heating, ventilation, air conditioning and plumbing
- Plumbing
construction
- 24-hour
service for all mechanical systems
- Underground
site utility work
- Sheetmetal
fabrication and erection
- Industrial
pipe fabrication and installation
- Industrial
sheetmetal fabrication and installation
- Shop
fabrication of tanks and vessels
Infrastructure:
Concerns strength is its infrastructure and its dedicated
workers, and they have both.
STRENGTHS:
TEAM – Dedicated and Committed to
Customer satisfaction
Tools – Standardized , top quality
and certified where applicable
Cranes are of capacities ranging
from 10 T to 150 Tons supported by our vendor members, who are now a part
subject family.
Complying to Customer targets we
often go overboard to achieve them. This puts usthrough rigorous testing and
adds up to more working hours at the backstage.
Trade Reference:
- Maruti Udyog
- Hero Honda
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 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.39.60 |
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UK Pound |
1 |
Rs.77.85 |
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Euro |
1 |
Rs.58.04 |
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 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
3 |
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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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32 |
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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