MIRA
INFORM REPORT
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Report Date : |
25.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
ELMEC INDIA |
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Registered Office : |
37/38, Goods Shed Road, Cotton Pet, Post Box No. 7624, Bangalore – 560
053, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1986 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Trader in Packaging Materials, Machinery Sales,
Services and Consultancy. |
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. 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 / Head Office / Factory: |
37/38, Goods Shed Road, Cotton Pet, Post Box No. 7624, Bangalore – 560
053, Karnataka, India |
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Tel. No.: |
91-80-26702063 / 26700117 |
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Fax No.: |
91-80-26700117 |
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E-Mail : |
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Website : |
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Area : |
1200 sq.fts |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. H R Shivapratap |
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Designation : |
Proprietor |
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Date of Birth/Age : |
34 years |
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Qualification : |
M.Sc |
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Experience : |
10 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Trader in Packaging Materials, Machinery Sales,
Services and Consultancy. |
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Products Ranges: |
· Box Strapping · Shrink Packaging · Continuous Sealing Machines · Bag Closers · Foot and Hand Sealing Machines |
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Exports : |
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Countries : |
United Arab Emirates Markets |
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Imports : |
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Countries : |
Italy |
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Terms : |
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Selling : |
Direct / 15 days, Credit (15 Days) |
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Purchasing : |
L/C 60 Days, Credit (30 Days) |
GENERAL
INFORMATION
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Suppliers : |
· Swarup Mechanical Works, Ludhiana · Suraj Filaments (P) Limited, Bhavanagar · Advanced Packaging , Mumbai · Revo Bag Closers · SP Automation and Packaging Machines , Coimbatore |
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Customers : |
· Vibha Seeds, Hyderabad, · ITC Limited, Bangalore · Agility Logistics , Bangalore · Procter and Gamble Limited · Cadbury India Limited · Tata Group · Parel Industries · Wipro Limited ·
Britania India Limited. ·
Cadberries India Limited. ·
Mc Dowell And Company Limited. ·
Hindustan Lever Limited. ·
Parle India Limited. ·
Tata Group ·
Birla Group |
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No. of Employees : |
12 |
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Bankers : |
State Bank of Mysore, Chamrajpet, Bangalore – 560 018, Karnataka,
India |
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Facilities : |
Rs. 0.300 million |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Basavaraj Associates Chartered Accountants |
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Address : |
Bangalore |
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Associates/Subsidiaries : |
Elmec Technopac Machinery (P) Limited, Bangalore |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.000 millions (approximately) |
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Borrowed : |
--- |
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Total : |
Rs. 2.000 millions (approximately) |
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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30.000 |
20.000 |
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Profit/Loss for the year |
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10 to 15% |
10 to 15% |
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Export Value |
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3.500 |
2.500 |
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Import Value |
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3.000 |
2.500 |
Average Value of Inventories at any given time Rs. 0.500 million.
LOCAL AGENCY FURTHER
INFORMATION
WEBSITE DETAILS:
Subject with a small team originated it's operation in the year 1986 as
Service Providers for Industrial bag closers and related consumables like
threads and packaging materials.
Company is fully organized and following the International Quality Standards
and committed to " Provide The Best Products and Services" to
customers and satisfy their expectation.
They are well recognized individually in this Industry through their efficient
and prompt service with vast customer base spread throughout India spanning for
nearly two decades.
They have diversified range of activities, which includes Sales, Installation,
Service, Maintenance and Training for all the type of packaging machines. Apart
from these Services they also trade the necessary consumables and accessories
related. They also provide consultancy for identifying the right packaging
equipment and evaluating the packaging process
PRODUCTS
1.Technopac Powder Filling Machine
Suitable for filling Non-free flowing powders by volume or by weight, in
to pouches or to containers. Available as semiautomatic or fully automatic
line.
2.Technopac Granule Filling Machine
Suitable for filling free flowing Granules by volume, in to pouches or
to containers. Available as semiautomatic or fully automatic line.
3.Technopac Continuous Band Sealers
Suitable for Heat Sealing Laminated or Non laminate pre made Pouches.
Suitable for on line operation with filling machines, and for mass production.
4.Technopac Heat Shrink Chamber
Suitable for Shrink packing various products using POLYOLIFIN shrinkable
film. Suitable for sealing and shrinking rectangular products like books, box
etc as off line production.
5.Technopac Heat
Shrink Tunnel and L - Sealer
Suitable for Shrink packing various products using LDPE, PVC, POLIOLIFIN
shrinkable film. Suitable for shrinking any products in on line production.
6.Technopac Pouch
Packing Machine
Suitable For packing powders granules and liquid automatically
7.Technopac Box
Strapping Machine
Suitable For putting PP Strips on Boxes and bundling of books /paper
Suitable For applying BOPP Gum tape on Closed flaps of corrugated Box
9.Technopac Vacuum
Packing Machine
Suitable For Vacuum packing of food / Non food Products
Suitable For pnumatic sealer
SERVICE AND SUPPORT
Product Information/ Support
They also provide pre-sales responses for many of their current
products. Even though they have dedicated staffs to reading and providing
detailed and personalised responses to customer's enquiry through mails within
two business days.
CUSTOMER CARE REPAIR/ EXCHANGE
Their support technicians are trained and experienced to assist
customers in various stages beginning from Installation to troubleshooting.
Customers can contact them, or any of their authorized representatives near to
their location for any kind of service/repair. They utilize an extensive
service network with well-equipped diagnosing tools; industry trained personal
and service centers. They offers specially designed pre-packed service and
support contracts which can be mutually agreed upon with them or any of their
representatives.
SERVICE ASSOCIATES
4M TECHNOPAC
#594, Thomas Street,
Coimbatore - 641001.Tel.: 91-422- 2382991
E-Mail:mtechnopac@yahoo.co.in
Contact Person/s:
Mr. Suresh - 98430 62378
Mr. Ranganath - 98432 63169
SAFTY PACKAGING & SEALING MACHINERIES
# 1-1-79/B8, Bhagyanagar Complex,
Beside old Sangam Theatre,
RTC X Road, Hyderabad - 500 020. Tel. +91-40-7606507
Contact Person:
Mr. G.R. Reddy - 98490 32835
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.40.05 |
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UK Pound |
1 |
Rs.78.75 |
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Euro |
1 |
Rs.59.39 |
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 |
YES |
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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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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. |
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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