MIRA
INFORM REPORT
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Report Date : |
12.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
B S ENGINEERING CORPORATION |
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Registered Office : |
117, Raja Dinendra Street, Kolkata – 700004, West Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1953 |
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Legal Form : |
Sole Proprietory Concern. |
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Line of Business : |
Manufacturer and Exporter of Plywood Machines, Bamboo Processing Machines,
Rubberized Coir Foam Machines, Wood Working Machinery and Boilers. |
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 20000 |
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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. 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. |
INFORMATION PARTED
BY
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Name : |
Mr. Sankarsan Saha |
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Designation : |
Executive Engineer |
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Contact No.: |
91-9433437759 |
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Date : |
08.02.2008 |
LOCATIONS
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Registered Office/ Factory : |
117, Raja Dinendra Street, Kolkata – 700004, West Bengal, India |
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Tel. No.: |
91-33-25557142 |
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Mobile No.: |
91-9433437759 |
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Fax No.: |
91-33-25558976/ 25543793 |
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E-Mail : |
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Website : |
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Area : |
50000 sq. ft. |
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Location : |
Owned |
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Factory : |
Beside Dumdum Airport, Kolkata, West Bengal, India |
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Area : |
5 acres |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mrs. Shyamal K. Saha |
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Designation : |
Proprietor |
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Date of Birth/Age : |
63 years |
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Qualification : |
Graduate |
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Experience : |
40 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Plywood Machines, Bamboo Processing
Machines, Rubberized Coir Foam Machines, Wood Working Machinery and Boilers. |
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Products : |
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Exports : |
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Products : |
All Products |
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Countries : |
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Terms : |
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Selling : |
L/C and Cheque |
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Purchasing : |
Cash and Credit, Depend on Customer |
GENERAL
INFORMATION
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Customers : |
Plywood Manufacturers |
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No. of Employees : |
Around 150 |
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Bankers : |
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Banking Relations
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Satisfactory |
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Auditors : |
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Name : |
D Mukopadhyay Chartered Accountant |
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Address : |
Kolkata |
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Memberships : |
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Associates/Subsidiaries : |
B S Manufacturing Private Limited |
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Address : |
Raja Dinendra Street, Kolkata – 700004, West Bengal, India |
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Line of Business : |
Export of Plywood Machine etc. |
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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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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15.000 |
10.000 |
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Expected Sales (2007-08): Approx Rs.20.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Trade reference:
- Century Manufacture
- Kitply Manufacture
Website details:
Since more than past 50 years,
subject is manufacturing cost effective machineries suitable for manufacturing Plywood,
Flush Doors etc., after that the Concern gradually started to manufacture
Rubberised Coir Foam Machineries and machineries suitable for manufacturing
Bamboo based products that provide solutions to many common domestic and
industrial problems.
Apart from the above main products
the Concern also undertakes Structural Fabrication jobs for constructional
requirement of the Industries.
Profile:
The Concern was incorporated in
the year 1953 by their late founder Shri Dinesh Chandra Saha. It all started
with a very small capital and a very few workmen. By the able guidance of our
founder the concern grew and prospered to become one of the leading business
firms in India.
The Concern started with
manufacturing various machineries suitable for manufacturing Plywood, Flush
Door, Block Board, Particle Board, Laminate etc. and supplying the same to all
over India and Abroad. Now Subject is one of the pioneers Concern which supply
machineries on a turnkey basis and has a reputation for good quality and reliable
machineries in the above fields.
After 3 decades of success and
achievements the company incorporated in their Product list, Machines for
Mattresses out of coconut coir fibers. This unit is a total automatic plant and
their concern was the first who manufactured these machines in India, which
were earlier being imported from Germany. The Concern has supplied these
machines which has a better technical advantage suitable for Indian conditions
to many reputed firms in India viz. Rilaxon, Yo-Yo coir Foams (P) Limited,
A.M.Coirs Limited, Century Fibre Foams etc....on a turnkey basis.
Next to add to the product range
were Machineries suitable for manufacturing Bamboo Based Products and also
supplied this machineries to different states viz. Meghalaya, Mizoram, Kerala
and Orissa.
Also queuing up in the
product line up are Boilers and Incinerators suitable for various industries.
In the last few years the concern has also started self Export and Promotionof
its product to worldwide countries.
Apart from the above main products
the Concern also undertakes structural and EPC projects for construction of
Industrial Sheds, Warehouse, Flood Light Tower and Communication Tower etc. The
Flood Light Towers of Mohan Bagan Atheletic Ground was fabricated by their
concern. Also the various State Bus Depot Flood Light Tower in Kolkata is
manufactured and erected by their concern. Recently the concern is doing the
fabrication jobs for Communication Towers of Reliance Infocomm, Bharati Telecom
Limited. (Airtel).
In all these years the concern has
also handled various small projects involving machineries of Bread and Biscuits
Industry, Tea Industry, Fabric Industry etc.
Resources
and Facilities:
The Concern is having 2 Units, one is Head Office and
Factory No.1 situated at North Kolkata, India another is main production unit
Factory No.2 situated at Near Kolkata Airport Gate No. 3. There is one factory
shed and one office building at Factory No. 1 and One Structural Shed, One
Mechanical Shed, One Heavy Shed and office building at Factory No. 2. The total
factory shed area is 55000 sq. ft. The Concern has got well equipped machine
shop consisting of Machine Lathe up to 20' length, Shaping Machine, Milling
machine, Radial Drill, Grinding, Planning, Straightening Machine etc. It has
also got specialized machines such as Horizontal Drill which can drill upto 8'
length in the horizontal axis. The concern has got in house casting shop and
Hard Chromium unit. Constant innovation and design are done to ensure that the
products of the concern are of the latest technology. Computer analysis using
F.E.M. Software is done and drawings developed in AUTOCAD to ensure optimum
usage of power and longer service life for the machines.
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.39.73 |
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UK Pound |
1 |
Rs.77.34 |
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Euro |
1 |
Rs.57.80 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
8 |
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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 |
YES |
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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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50 |
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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