MIRA
INFORM REPORT
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Report Date : |
25.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
ANI ENGINEERS |
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Registered Office : |
503/ A, Plot No. 2716-17,
Phase IV, G.I.D.C. Estate, Wadhwan City, Surendranagar – 363 035,
Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
22.05.1995 |
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Com. Reg. No.: |
2408060048 |
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IEC No.: |
2404004352 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMA04328C |
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PAN No.: [Permanent
Account No.] |
AADFA0521D |
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Legal Form : |
Partnership Concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturer, Exporter and Importer of ANIVARYA Rotary Gear Pumps. |
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 13000 |
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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. Partners are reported
as experienced and respectable businessmen. Trade relations are fair.
Business is active. Payments are 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. J. N. Patel |
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Designation : |
Partner |
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Contact No.: |
91-9426203018 |
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Date : |
25.02.2008 |
LOCATIONS
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Registered Office/ Factory : |
503/ A, Plot No. 2716-17, Phase
IV, G.I.D.C. Estate, Wadhwan City, Surendranagar – 363 035,
Gujarat, India |
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Tel. No.: |
91-2752-241479/ 240479/ 645479 |
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Mobile No.: |
91-9426203018 |
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Fax No.: |
91-2752-242479 |
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E-Mail : |
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Website : |
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Area : |
1979.75 sq. ft. |
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Location : |
Leased |
PARTNERS
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Name : |
Mr. Jitendrakumar Narshibhai Patel |
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Designation : |
Partner |
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Address : |
GIDC Residence Area, Plot No. 121/ 4, Wadhwan City 363 035, Gujarat,
India |
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Date of Birth/Age : |
47 Years |
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Qualification : |
Mechanical Engineer |
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Experience : |
25 Years |
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Name : |
Mr. Devjibhai Thakkarsibhai Patel |
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Designation : |
Partner |
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Address : |
15, Sharda Society, Surendranagar 363 002, Gujarat, India |
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Date of Birth/Age : |
75 Years |
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Name : |
Mr. Vipulbhai Devjibhai Patel |
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Designation : |
Partner |
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Address : |
15, Sharda Society, Surendranagar 363 002, Gujarat, India |
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Date of Birth/Age : |
38 Years |
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Qualification : |
B. Com. |
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Experience : |
7 Years |
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Name : |
Mrs. Maltiben Dineshkumar Patel |
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Designation : |
Partner |
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Address : |
15, Sharda Society, Surendranagar 363 002, Gujarat, India |
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Date of Birth/Age : |
47 Years |
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Qualification : |
B. A. |
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Experience : |
5 Years |
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Name : |
Mr. B. T. Patel |
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Designation : |
Partner |
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Address : |
Wadhwan City, Gujarat, India |
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Date of Birth/Age : |
45 Years |
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Qualification : |
B. Com. |
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Experience : |
2 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of ANIVARYA Rotary Gear Pumps. |
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Products : |
* General Purpose
Helical Gear Pump * Special Flange
Mounting Type Gear Pump * Investment Cast
complete SS Gear Pump * Heavy Duty Gear
Pump with Needle Bearings * Fuel Pressurizing
Internal Gear Pump |
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Brand Names : |
* ANIVARYA |
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Exports : |
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Products : |
All Products |
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Countries : |
Egypt, Singapore, UK, USA |
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Imports : |
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Products : |
Machinery |
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Countries : |
USA |
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Terms : |
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Selling : |
L/C, T/T, or Cash and Credit upto 30 days basis |
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Purchasing : |
Cash and Credit upto 60 days basis |
GENERAL
INFORMATION
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Customers : |
* End Users * OEM’s * Dealers |
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No. of Employees : |
Around 23 (In Office – 2 and In Office – 23) |
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Bankers : |
* Bank of India,
Surendranagar Branch, Gujarat, India * Surendranagar
Peoples Co-Operative Bank Limited, Jawahar Road, Surendranagar, Gujarat,
India * Kotak Mahindra
Bank * Punjab National
Bank |
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Facilities : |
Concern enjoys C/C facility of Rs. 2.500 millions from Bank of India. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
K. C. Parikh and Company Chartered Accountants |
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Address : |
Surendranagar, Gujarat, India |
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Memberships : |
* SSI * NSIC |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 3.198 millions |
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Borrowed : |
Nil |
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Total : |
Rs. 3.198 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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3.198 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.110 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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3.308 |
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LOAN FUNDS |
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1] Secured Loans |
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1.274 |
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2] Unsecured Loans |
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0.754 |
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TOTAL BORROWING |
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2.028 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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5.336 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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3.979 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.083 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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1.469 |
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Sundry Debtors |
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1.671 |
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Cash & Bank Balances |
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0.283 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.100 |
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Total
Current Assets |
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3.523 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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2.550 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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2.550 |
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Net Current Assets |
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0.973 |
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MISCELLANEOUS EXPENSES |
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0.301 |
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TOTAL |
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5.336 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
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Sales Turnover (including Other Income) |
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11.629 |
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Total Income |
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11.629 |
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Profit/(Loss) Before Tax |
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2.421 |
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Provision for Taxation |
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1.169 |
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Profit/(Loss) After Tax |
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1.252 |
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Imports : |
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Raw Materials |
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6.507 |
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Total Imports |
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6.507 |
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Expenditures : |
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Administrative Expenses |
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0.343 |
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Interest |
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0.187 |
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Depreciation & Amortization |
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0.487 |
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Other Expenditure |
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8.191 |
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Total Expenditure |
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9.208 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
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PAT / Total Income |
(%) |
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10.76 |
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Net Profit Margin (PBT/Sales) |
(%) |
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20.81 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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31.92 |
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Return on Investment (ROI) (PBT/Networth) |
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0.73 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.38 |
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Current Ratio (Current Asset/Current Liability) |
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1.38 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
*
Goodlass Nerolac Paints Limited
*
Prashant Gamatex Private Limited
* Kanel Oil and Export Limited
* Rallis India Limited
* Audco India Limited
* South Asia Tyres Limited
* Fidelity Industries Limited
* Hindustan Syringes Medical Device Limited
* TVS Group of Companies
* Shri Ram Fertilizers and Chemicals Limited
* Associated Cement Company Limited
* Pondy Agrichemical Private Limited
* J P Industries
* Goyal India
* Nagarjuna Agrochem Limited
* Ranbaxy Laboratories
* DCW Limited
* Markson Pharmaceuticals
* Jaipur Ceramic Private Limited
* Auto Care Lubricants
* Birla Cellulosic
* Gujarat Ambuja Exports Limited
* Tata Chemicals Limited
* Metric India Limited
* Parrys Confectionery Limited
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
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Indian Rupees |
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US Dollar |
1 |
Rs.39.91 |
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UK Pound |
1 |
Rs.78.44 |
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Euro |
1 |
Rs.59.13 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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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 |
5 |
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--LEVERAGE |
1~10 |
5 |
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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 |
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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45 |
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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