MIRA
INFORM REPORT
|
Report Date : |
13.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
MAX INDUSTRIES |
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Registered Office : |
27/28, G.I.D.C. Kapadwanj, District Kheda, Kapadwanj 387620, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1987 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of material handling equipment viz chain pulley block,
motorized chain pulley block, Chain
Electric Hoist, Wire rope hoist, electric traveling trolley, manual
traveling trolley, Hot cranes etc. |
RATING &
COMMENTS
|
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 10000 |
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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 reported
as 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
|
Name : |
Mr. Tejas Shah |
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Designation : |
Purchase and Accounts Manager |
|
Date : |
09.02.2008 |
LOCATIONS
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Registered Office : |
27/28, G.I.D.C. Kapadwanj, District Kheda, Kapadwanj 387620, Gujarat,
India |
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Tel. No.: |
91-2691-263436 / 262682 |
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Mobile No.: |
91-9825181283 |
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Fax No.: |
91-2691-262079 |
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E-Mail : |
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Website : |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Abhijit N. Joshi |
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Designation : |
Proprietor |
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Date of Birth/Age : |
54 Years |
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Qualification : |
Diploma in Mechanical Engineering |
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Experience : |
25 Years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of material handling equipment viz chain pulley block, motorized
chain pulley block, Chain Electric
Hoist, Wire rope hoist, electric traveling trolley, manual traveling trolley, Hot cranes etc. |
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Products : |
Ø Chain Pulley
Block Ø Motorized Chain
Pulley Block Ø Chain Electric
Hoist Ø Monorail Trolley Ø Wire Rope Hoist Ø Hot / Eot Cranes Ø Other Material
Handling Equip |
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Agencies Held : |
Ø Mahindra and
Mahindra Ø Kalyani |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Credit [30 days to 45 days] |
GENERAL
INFORMATION
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Customers : |
Ø Government
Bodies Ø Engineering
Companies Ø Automobile
Companies |
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No. of Employees : |
9 |
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Bankers : |
State Bank of India, Kapadwanj Branch |
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Facilities : |
C/C Approximately Rs. 0.200 Million |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Rakesh Bhatt Chartered Accountants |
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Address : |
Ahmedabad |
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Associates/Subsidiaries : |
Ø Vikrant
Engineers Address : Plot 3, GIDC, Kapadwanj, Gujarat, India Line of Business : Manufacturing of material landing equipment |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.500 Millions [Estimated] |
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Borrowed : |
-- |
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Total : |
Rs. 2.500 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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11.000 |
9.100 |
Expected Sales (2007-08) : Approximately Rs. 15.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
AS
PER WEBSITE DETAILS :
PROFILE
Subject was established in
the year 1987 by a professional engineer
having vision to provide indigenous material handling products to handle goods
safely & efficiently.
It started its manufacturing with only two-product lines
initially-Chain Pulley Blocks and Monorail Trolleys.
In the year 1989, their product Chain Pulley Block
was awarded ISI Quality Certification, and they became the first one to get it
amongst the other material handling manufactures in Gujarat (India). This ISI
Certification is sustained all these years with offering uncompromised Quality
in the product sold.
Other products have been added with time, representing their
commitment towards innovation in technology and responsiveness to customer
needs. And today the product line includes Manual Hand Hoists, Manual Monorail Traveling Trolleys, Electric Chain
Hoists & Electric Wire Rope Hoist, Electric Trolley and special products in
the range requirement of Flameproof, Shorter Head Room, Reverse Hoist, Dual
Speed Hoists etc.
Latest Machineries, Tools & Inspection Instruments have
been added from time to time for better quality, processes are documented &
followed for precision, and Inspection procedure is made rigorous for
interchangeability of parts & each product of equal quality.
Keeping up the pace with the world, they are awarded ISO 9001-2000 accreditation by
RWTUV (Germany) in the year 2003 (Now TUV-Nord) also recertified in 2006 for a
further period of 3 Years, which shows their equal & consistent commitment
to the products and processes.
Max Industries is basically a Small Scale Industry located
in Kapadwanj. Kapadwanj is hardly 65 Km. away from Ahmedabad & 500 Km away
from Mumbai. It is accessible both by Road and Rail.
DEALERS:
They have a wide-spread dealer’s network
across the Western, Middle and Southern India and are establishing their
presence in other parts. This facilitates the easy and timely procurement of
products and services.
Esteemed Partners
|
No. |
Name |
Address |
Phone / Fax |
|
1. |
Patel Traders |
Behranpura Naka,
Lehripura Road Vadodara – 390 019, Gujarat |
Ph: 0265 –
2426239 / 2425538 Fax: 0265 - 2426239 |
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2. |
Patel Enterprises |
Opp. Vakal High
School Bajwa Vadodara – Gujarat |
Ph: 0265 –
2232642 / 2230112 |
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3. |
Muken Associates |
Kum-Kum
Building, Opp. Lohana Boarding Raopura, Vadodara – 390 001 |
Ph: 0265 –
2428825 / 2438999 |
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4. |
Chimanlal Dalal & Sons |
Madan Zampa,
Lakkadia Pitha Vadodara – 390 001, Gujarat |
Ph: 0265 –
2432576 / 2433683 |
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5. |
Patel Traders |
Nr. Meera Hostel, |
Ph: 0288 -
2344978 |
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6. |
MahaveerMachinery & Hardware Mart |
Outside Hathi
Pole, Loha Bazaar |
Ph: 0294 –
2523547 |
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7. |
RR International Marketing |
Shop No. 111,
1st Floor, Sri Dhana Complex Door No. 53-56, R.R. Samy Lane, (Near Avanashi Road
Flyover) |
E-mail:
cheenu69@yahoo.com |
|
8. |
Elmech Engineering Enterprises |
5-5-95 & 96,
1st Floor, Shiva Chambers |
Ph: 040 – 27802949
/ 27802959 |
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9. |
Sri Ram Engineering Co. |
94, Shastri
Market, Indore – 452 007, |
Ph: 0731 –
2530649 |
Other Traders
|
Sr. |
Name |
Address |
Phone / Fax |
|
1. |
Chevi Enterprises |
A – 211, B.G.
Tower Outside Delhi Darwaja Shahibaug Road, Ahmedabad – 380 004, Gujarat |
Ph: 079 -
25623202 / 25625758 |
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2. |
Central
Engineering Corporation |
Near Anand
Bhandar, Abhyankar Road |
Ph: 0712 -
2524685 / 2548127 |
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3. |
Asmita
Engineering Equipments |
J – 54, ‘S’
Block, M.I.D.C., Bhosari Pune – 411 026, Maharashtra |
Ph: 020 –
27129258 / 27124885 |
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4. |
Priscillas Engineering
Company |
No. 200, 1st
Floor, Broadway Chennai – 600 108, Tamil Nadu |
Mb: 09444047771 |
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5. |
M. A. Zaveri
& Co. |
24, Netaji
Subash Road, |
Ph: 033 – 2230
0662 / 2230 5760 |
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6. |
Swati Sales |
M.G. Road,
Raichur – 584 101, |
Ph: 08532 –
230017 |
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7. |
B. D. Gupta
& Sons (Private) Limited |
170, 1st Floor,
Janta Market |
Ph: 011 –
23676697 / 23214842 |
|
8 |
JVR Technical
Services |
836, ‘B’ Ward
Sangeeta Lodge |
Ph: 0231-2646573
/ Fax: 2539656 |
Following is the list of some of their
valuable clients from a huge client database. The list itself speaks of their
competitive quality and efficiency of service.
LIST OF CUSTOMERS, CLIENTS AND END USERS
Esteemed Customers
|
Amul Dairy - Kaira District Co-operative Milk
Producers Union Limited. (Anand) |
Anup Engineering Company (Ahmedabad) |
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Anupam Industries Limited. (Anand) |
Bharat Fritz Werner Limited. (Bangalore) |
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DCW Limited (Dhrangadra) |
GMM PFAUDLER Limited. (Anand) |
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Gujarat State Fertilizer Corporation
Limited. (Baroda) |
Indian Steels Corporation (Kutchh) |
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Indian Petrochemicals Corporation Limited.
(IPCL - Baroda) |
Indian Petrochemicals Corporation Limited.
(IPCL - Bhavnagar) |
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Lakshmi Machine Works (LMW) Limited
(Coimbatore) |
Larsen & Tourbo Limited. (Hazira) |
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M/s Usha Martin Limited. (Gamharia -
Jharkhand) |
M/s Usha Martin Limited. (Ranchi -
Jharkhand) |
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Mazagaon Dock Yard Limited. (Mumbai) |
Mehsana District Co-Operative Milk Producers
Union Limited. (Mehsana) |
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Shanthi Gears (Coimbatore) |
Tehri Hydro Development Corporation
Limited. |
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The Arvind International Limited. (Denim
Division - Santej, Ahmedabad) |
The Associated Cement Works (Chandarpur) |
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TVS Motors (Chennai) |
Voltas Limited (Ahmedabad) |
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Welspun Gujarat Stahl Rohren Limited.
(Kutchh) |
Welspun Limited (Bharuch) |
Automobile Companies
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Eicher Motors
(Pithampur - Madhya Pradesh) |
General Motors
(Halol - Gujarat) |
Government Organization
|
Gun Carriage Factory (Jabalpur) |
National Alluminium Corp. Limited.
(Captive Power Plant - Orissa) |
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National Thermal Power Corporation
(Ambernath) |
National Thermal Power Corporation
(Bhandara) |
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National Thermal Power Corporation
(Karimnagar) |
National Thermal Power Corporation (Korba) |
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National Thermal Power Corporation
(Sonebhadra - Uttar Pradesh) |
Office of the Archaeologist (Ahmedabad) |
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Ordnance Factory (Ambernath) |
Ordnance Factory (Bhandara) |
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Ordnance Factory (Dehradun) |
Ordnance Factory (Kanpur) |
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Rajasthan State Mines & Minerals
Limited. |
Rajasthan State Road Transport Corporation
Limited. (Jaipur) |
Electricity Boards
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Electric Company
(Ahmedabad) |
Gujarat
Electricity Board (Borsad) |
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Gujarat Electricity
Board (Kathalal) |
Gujarat
Electricity Board (Nadiad) |
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Gujarat State
Electricity Corporation Limited (Wanakbori TPS) |
Madhya Gujarat
Vij Company Limited. (Anand) |
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Madhya Gujarat
Vij Company Limited. (Godhara) |
Madhya Gujarat
Vij Company Limited. (Mehamdavad) |
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Jaipur Vidhyut
Vitran Nigam Limited. (Jaipur) |
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Water Supply Boards
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Gujarat Water
Supply & Sewerage Board (Ahmedabad) |
Gujarat Water
Supply & Sewerage Board (Mehsana) |
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Gujarat Water
Supply & Sewerage Board (Surendranagar) |
Gujarat Water
Research & Development Corporation (Anand) |
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Gujarat Water
Research & Development Corporation (Kalol) |
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Municipal Corporation
|
Vadodara
Municipal Corporation (Vadodara) |
Rajkot Municipal
Corporation (Rajkot) |
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Surat Municipal
Corporation (Surat) |
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Engineering Companies
|
ACE Fabricators Private . Limited.
(Mumbai) |
Alliance Engineering Company
(Mumbai) |
|
Amazon Wood Private . Limited.,
(Ranjangaon) |
Asarwa Mills (Ahmedabad) |
|
Fivebros Forgings Private .
Limited. (Ankleshwar) |
Gujarat Metal Cast (Halol) |
|
Hindustan Parsons Limited. (Nashik) |
Indo Air Compressors Private .
Limited. (Ahmedabad) |
|
Mutha Autocast Private . Limited.
(Satara) |
National Process Private . Limited.
(Ahmedabad) |
|
Patel Airtemp (I) Limited.
(Ahmedabad) |
Pelican Rotoflex Private , Limited.
(Rajkot) |
|
Radhe Renewables Energy Private .
Limited. (Rajkot) |
Shilp Gravures Limited. (Santej
& Ahmedabad) |
|
Steefo Engineering Corporation
(Ahmedabad) |
Steefo Industries (Ahmedabad) |
|
Thermal Systems Private . Limited.
(Hyderabad) |
Vijay Tanks & Vessels Limited.
(Baroda) |
|
Windal Auto Private . Limited.
(Pune) |
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Chemical, Pharma and Sugar Industry
|
Andhra Sugar Mills
Ltd. (Andhra Pradesh) |
Cadila
Pharmaceuticals Ltd. (Ankleshwar) |
|
James Robinson
Ind. Pvt. Ltd. (Vapi) |
K.A. Male
Pharmaceuticals Ltd. (Ankleshwar) |
|
Kamani Oil
Industries Ltd. (Mumbai) |
Strides Research
& Speciality Chemicals Ltd. (Bharuch) |
Turnkey Contractors
|
Aqua Machinery
Private Limited. (Ahmedabad) |
Efficient
Engineers (I) Private . Limited. (Ahmedabad) |
|
Flow More Pumps
Private Limited. (Ahmedabad) |
Gammon India
Limited. (Mumbai) |
|
Harsha Hydromech
Private Limited. (Ahmedabad) |
K. R. Pumps
& Company (Ahmedabad) |
|
N. A. Exports
(Ahmedabad) |
NAS Erectors
(Surat) |
|
P.E.S. Engineers
Private. Limited. (Hyderabad) |
Paramount
Limited. (Baroda) |
|
Pullin Pumps
Private Limited. (Ahmedabad) |
SBM Projects
& Engineers (Pune) |
|
Unitech Machine
Tools (New Delhi) |
|
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 39.65 |
|
UK Pound |
1 |
Rs. 77.41 |
|
Euro |
1 |
Rs. 57.62 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|