MIRA
INFORM REPORT
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Report Date : |
07.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
CHAMPION INDUSTRIES |
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Registered Office : |
H No. 168, Sector 20, Block – B, Mandi Gobindgarh – 147 301, Punjab |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1980 |
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Legal Form : |
Sole Proprietary Concern. |
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Line of Business : |
Manufacturers and Exporters of Rolling, Mill Plant. |
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 8000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established and reputed concern having
satisfactory track. Trade relations are fair. Business is active. General financial
position is satisfactory. Payments are reported as usually correct and as per
commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office / Factory : |
H No. 168, Sector 20, Block – B, Mandi Gobindgarh – 147 301, Punjab ,
India |
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Tel. No.: |
91-1765-502199 / 325088 / 250588 |
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Mobile No.: |
91-9814700424 / 9814700424 |
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Fax No.: |
91-1765-250588 / 250589 |
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E-Mail : |
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Website : |
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Area : |
800 sq.yds |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Kuldip Singh |
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Designation : |
Proprietor |
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Date of Birth/Age : |
54 years |
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Experience : |
25 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Rolling, Mill Plant. |
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Products : |
· Gear Box · Section Straighterning Machine · Conveyor |
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Exports : |
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Products : |
Rolling Mill Plant |
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Countries : |
Sri Lanka |
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Imports : |
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Products : |
Machinery |
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Countries : |
Korea, Germany |
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Terms : |
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Selling : |
L/C, Cash, Credit |
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Purchasing : |
L/C, Cash, Credit (60 Days), Sight |
GENERAL
INFORMATION
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Customers : |
Local Customers, End Users |
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No. of Employees : |
35 |
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Bankers : |
· Bank of Baroda Address: Mandi Gobindgarh · HDFC Bank Address: Mandi Gobindgarh |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Rajnder Rajesh and Company Chartered Accountants |
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Address : |
Mandi Gobindgarh |
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Associates/Subsidiaries : |
Champion Ispat
Udyog |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.000 millions |
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Borrowed : |
----- |
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Total : |
Rs. 2.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
6.000 |
5.500 |
5.100 |
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Profit/Loss for the year |
0.283 |
0.275 |
0.200 |
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCES:
· Minakshi Industries, Pondichery
· Shivam Steel Corporation, Rurkela
· D P Industries, Delhi
WEBSITE DETAILS:
Established in the
year 1989, subject are one of the leading manufacturers and exporters of machinery,
equipment and components used in pneumatic engineering and steel rolling mills.
Their expertise and capability enable them to execute bulk and customized
orders as per clients requirements.
Leveraging
technologies, processes and core competencies, they are focused on generating
growth for their business as well as that of their customers. They deliver
solutions through a proactive approach that is built on existing knowledge and
sustained innovation. At the concern, customer satisfaction continues to be the
highest priority, and they strive to achieve it on a consistent basis.
Range of Products
Their range of
products include gear box, fly wheels,
gear coupling, mill stand, etc. They also manufacture and supply a wide
range of single and multi-stage
reduction gears and gearboxes in various capacities.
Their concern is
dedicated towards understanding the exacting needs of the customers and
offering them efficient machinery solutions. Proper understanding of specific
customer needs enables them to improve the performance and variety of their
products and services.
R and D Facilities
They give top
priority to their research and development activities and it remains the most
important factor towards their growth and development. Their research engineers
identify the right process towards designing of new machinery products and also
provide their valuable contribution towards modernization of present units.
Infrastructure Facilities
They have a
state-of-the-art manufacturing facility equipped with sophisticated machinery
and measuring instruments which are used to make their high precision machinery
products. Their in-house setup for maintenance of tools and machinery ensures
them of successfully meeting the order requirements.
Some of the salient features of their infrastructure setup are:
They have separate
units dedicated towards design, fabrication work, machining and assembly needs
of the machine.
They have
facilities for testing and inspection.
They have in house
designing unit equipped with latest CAD facilities with a drawing section.
These facilities are used for doing detailed drawing and ensures that
manufacturing specifications are met as per clients specifications.
Quality Policy
They strictly
adhere to the set quality standards and ensure that their machinery products
conform to the international standards of quality. The different parts of the
machinery are tested in their labs for their tensile strength, quality of raw
materials and their efficient maneuverability. Their in-house lab facilities
also aid them in testing the physical and chemical composition of material and
performing ultrasonic testing for seeing cracks and other manufacturing
defects.
They have microprocessor based testing equipment for testing the composition,
tolerance level and robustness of machinery equipment. It ensures them that all
their products have uniformity in hardness, resistance level, and robustness.
Apart from this regular checks and testing of products is done during each
stage of manufacturing – casting and machining to ensure superior quality.
Clientèle
Their sustained and
dedicated approach have enabled them to produce superior range of machinery
products. It has also aided them in making a commendable base of Clientèle in the
national and international markets.
Why Them?
Some of the salient
features that distinguishes them apart from the rest are:
· Regular planning and implementation to improve the functional efficiency.
· Continuous analysis of market trends.
· Better productivity through proper manpower deployment.
· Providing Effective Consultancy.
· Design and Development Facilities.
· Efficient After Sales Services.
· Proper Testings facilities of machinery parts.
· Use of superior raw-materials in the manufacturing process.
· Competitive prices and on time delivery schedules.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.39.48 |
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UK Pound |
1 |
Rs.77.44 |
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Euro |
1 |
Rs.57.75 |
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 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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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 |
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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48 |
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/normal. |
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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