MIRA
INFORM REPORT
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Report Date : |
14.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
PADAM ELECTRONICS |
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Registered Office : |
Plot No. 1/103, Street No. 3, West Kanti Nagar, New Delhi – 110 051 |
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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 Proprietory Concern |
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Line of Business : |
Manufacturers and Exporters of Electronic Ovens and Furnaces Muffle furnace, Industrial Ovens and Conveyor ovens. |
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 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 concern having satisfactory track. Trade relations are fair. General financial position is satisfactory. Payments are 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 : |
Plot No. 1/103, Street No. 3, West Kanti Nagar, New Delhi – 110 051, India |
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Tel. No.: |
91-11-22001791 / 22003581 |
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Fax No.: |
91-11-22003581 |
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Mobile No.: |
91-9810114085 |
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E-Mail : |
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Website : |
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Area : |
150 sq. mtrs |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Devender Singh |
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Designation : |
Sole Proprietor |
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Date of Birth/Age : |
47 years |
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Qualification : |
Graduate |
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Experience : |
24 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Electronic Ovens and Furnaces Muffle furnace, Industrial Ovens and Conveyor ovens. |
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Products : |
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Exports : |
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Products : |
Ovens Electric oven diesel Oven Gas Oven Conveyor oven Hot air Oven Over Head Conveyor Oven Powder Coating Oven Powder Coating Booth Stowing Paint Oven Box Oven Try Type Oven Automatic Trolley Type Oven Furnaces Muffles Furnace 0 -1200o C, 0-1400oC Electric Furnace Gas furnace Diesel Fired Furnace Air Circulating Furnace Boogie Hearth Furnace Annealing Furnace Shaker Hearth Furnace Diesel Fired Aluminium and Brass Melting Furnace Box type Furnace Continues Annealing Furnace Conveyor Furnace Tempering Furnace Electric Aluminum and Brass Melting Furnace Bell Furnace |
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Countries : |
Egypt and Oman |
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Terms : |
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Selling : |
L/C, Cash /Credit, T/T and Irrevocable L/C basis |
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Purchasing : |
Cash / Credit (30-45 days) |
PRODUCTION STATUS
Capacity to increase production by: 50%
GENERAL
INFORMATION
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Suppliers : |
Own Manufacturing (Purchase of raw material from local market) |
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Customers : |
· Divya Pharmacy (Owned by Swami Ramdev Ji) · Patanji Ayurvedic Private Limited (Owned by Swami Ramdev Ji) · Sharmila Tools · Induce · Shiva Opticals |
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No. of Employees : |
10 |
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Bankers : |
State Bank of India Krishna Nagar Branch, Delhi |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.2.500 millions |
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Borrowed : |
--- |
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Total : |
Rs.2.500 millions |
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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9.000 |
8.000 |
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Profit/Loss for the year |
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11% |
11% |
Expected Sales (2007-08) : Rs.15.000 millions
LOCAL AGENCY
FURTHER INFORMATION
WEBSITE DETAILS:
The concern in India has made a unique identity for itself in the manufacturing and export of Industrial Ovens and Furnaces. The concern's success is based on a commitment to innovation and excellent quality on a willingness to work with its customers to achieve the result they desire. The concern is the fastest growing force in quality ovens and furnaces in India and abroad.
Their quality control operations in production house has allowed they to reach
this sky height. The concern is proud to have achieved growth and reputation
through their association with valued clients.
Qualities and Applications of Furnace
Available in Electric, Gas and Diesel fired, the Furnaces
have the features of digital temperature system. The Temperature varies from 0
to 1200°C. These can be used in various industries like Brass, Copper, Steel,
Stainless Steel, Aluminium, Zinc for Enameling, Hardening, Carburizing,
Preheating, Annealing, Normalizing, Sintering, Tempering and Laboratory. They
are available in all sizes as per the customers requirements.
Qualities and Applications of Ovens
Available in Electric, Diesel and Gas fired, the Ovens have the basic features of digital temperature control and thermostat control system. The temperature varies from 0 to 300°C. These can be used in various industries like spring tempering, wax melting, paint baking, clutch plate baking, water drying, powder coating, PVC curing, lacer and teflon coating etc. They are available in all sizes as per the customers requirements.
Quality has been the overriding factor of
their success. The organization aims at customer's satisfaction with a string
focused on quality products. They dedicate their selves to emerge as a highly
responsive global organization of maximum visibility. Their stringent quality
checks at each stage of production ensure that the products produced speak
eloquently about the quality and delivers impeccable products. Their quality
control department is always vigilant and ensures that only the 100% perfect
products are made. Their unique customer services has differentiated they from
their competitors in arena of operation.
The concern is backed by professional team
of skilled and experienced engineers. There are numbers of inspection
instruments that help in providing their customers with consistent quality at
all times. Their R and D department anticipates future needs, and an ongoing
research in design and technology keeps them one step ahead of competition.
They can manufacture products exactly to given specifications. The products are
being manufactured as per international standards.
Products range
includes:
Ovens
(Electric/ Gas/ Diesel Fired)
- Hot Air Oven
- Tray Type Oven
- Trolley Type Oven
- Oil Conveyor Oven
- Hopper Dryer Oven
- Gas Conveyor Oven
- Fired Conveyor Oven
- PVC Preheating Oven
- Dryers, Dust Collectors
- Gas Fired Automatic Oven
- Electric Conveyor Oven
- Diesel Fired Automatic Oven
- Paint and Powder Coating Oven
Furnace (Electric/ Gas/ Diesel Fired)
- Muffle Furnace
- Electric Furnace
- Oil Fired Furnace
- Annealing Furnace
- Diesel Fired Furnace
- Shaker Herth Furnace
- Oil Conveyor Furnace
- Industrial Gas Furnace
- Air Circulating Furnace
- Fired Conveyor Furnace
- Electric Conveyor Furnace
CMT REPORT
(Corruption, Money Laundering and 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 concern 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.39.28 |
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UK Pound |
1 |
Rs.77.02 |
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Euro |
1 |
Rs.58.16 |
SCORE and 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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 and 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 and 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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