MIRA
INFORM REPORT
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Report Date : |
02.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
GURU NANAK ENTERPRISES |
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Registered Office : |
41 -42, Kamal park, Near Aman Nagar, Jalandhar – 144 004, Punjab |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1985 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JLDG03454D |
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Legal Form : |
Partnership Concern with an Unlimited Liability of Partners. |
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Line of Business : |
Manufacturers of Shot Blasting Machine Spares and Hydraulic Door
Closers. |
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 : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established concern having satisfactory track. Trade relations are fair. Payments are usually correct and as per
commitments. Nothing adverse
reported. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. S K Dhiman |
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Designation : |
Partner |
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Contact No.: |
91-9815822100 |
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Date : |
26.06.2008 |
LOCATIONS
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Registered Office / Factory : |
41 -42, Kamal park, Near Aman Nagar, Jalandhar – 144 004, Punjab,
India |
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Tel. No.: |
91-181-3295281 / 2291368 / 6451368 |
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Mobile No.: |
91-9872076618 |
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Fax No.: |
91-181-5011368 |
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E-Mail : |
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Website : |
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Area : |
10500 Sq. fts. |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. S K Dhiman |
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Designation : |
Partner |
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Mobile No.: |
91-9815496000 |
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Date of Birth/Age : |
60 years |
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Qualification : |
Undergraduate |
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Experience : |
32 years |
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Name : |
Mr. S S Dhiman |
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Designation : |
Partner |
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Mobile No.: |
91-9815400001 |
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Date of Birth/Age : |
55 years |
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Qualification : |
Undergraduate |
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Experience : |
28 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Shot Blasting Machine Spares and Hydraulic Door
Closers. |
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Products : |
v “Accurofabs”
Single Hanger Shot Blasting machine v “Accurofabs”
Shot Peening machine v Spare parts for
shot blasting Peening machine like Top Segment, Sprocket 63 Teeth, Rotor and
Elevator Plate, Conveyor Belt, Side Liner, etc |
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Exports to: |
Negotiating (Presently Indirectly) |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit ( 60 days) |
PRODUCTION STATUS
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Particulars |
Actual
Production |
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Shot Blasting Machines and Hydraulic Door Closers |
A per Demand |
GENERAL
INFORMATION
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Customers : |
v Khaitan
Fans v Hero
Honda v G.N.A.
Enterprises Limited v H.R.
International |
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No. of Employees : |
Total : 48 (Office: 6 ; Factory: 42) |
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Bankers : |
v ICICI Bank Jalandhar, Punjab, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. S K Bansal Chartered Accountants |
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Address : |
Jalandhar, Punjab, India |
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Sister Concerns
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Sembhi International Address : 42/2, Kamal
Park, Near Aman Nagar, Jalandhar – 144004, Punjab, India Line of
Business: Manufacturer and Exporter of Shot Blasting Machine Spares and
Hydraulic Door Closers. |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.000 millions |
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Borrowed : |
-- |
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Total : |
Rs. 2.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
8.000 |
6.000 |
4.800 |
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Profit for the year |
NA |
0.350 |
0.265 |
LOCAL AGENCY
FURTHER INFORMATION
As Per Web site
details
Shot blasting machines find application in foundries for
desanding, decoring and surface finishing of iron and light metal castings, and
mechanical descaling of semi-finished or finished products. On the other hand,
shot Peening machine is used for blasting the surface of spring material with
steel or glass pellets. Subject is the ultimate destination for
attaining high quality shot blasting and shot Peening machines at the most
competitive prices. They are an eminent manufacturer
and exporter of ''Accurofabs'' Single Hanger Shot Blasting and Shot
Peening Machine, Spare Parts for shot blasting and Peening machines like Top
Segment, Sprocket 63 Teeth, Rotor, Center and Elevator Plate, Conveyor Belt,
Side Liner, etc.
Incorporated in 1985, they have won accolades from their
clients spread all over the globe. Their vast industrial experience and regular
introduction of novel and improved machinery products for their worthy
customers have enabled them to assert their hold in this competitive arena.
Besides, they firmly adhere to their commitment towards their customers, honest
trade practices and staying at pace with the latest technological advancements.
These enable them to cross every hurdle that comes their way and assert their
individuality amongst others engaged in the same business
Product
Range
Premium quality
raw materials including alloy, steel, iron, etc. are used while manufacturing.
These ascertain world class shot blasting and peening machines marked by high
durability and reliability factor. This is the reason, they are an acknowledged
manufacturer and exporter of the sophisticated machineries enlisted below:-
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''Accurofabs''
Single Hanger Shot Blasting Machine |
''Accurofabs''
Shot Peening Machine |
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''Accurofabs''
Spare Parts for Shot Blasting Machine of Tumblast & Other Models |
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Top Segment |
Cage Adapter |
Side Liner |
Cage |
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Rotor |
Impeller |
Center Plate |
Elevator Plate |
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Conveyor Belt |
Housing Guard |
Piston of Drum |
Coupling of Rotor |
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Sprocket 15 Teeth |
Sprocket 63 Teeth |
Top Segment Cover |
Elevator Belt (with bucket) |
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Fan of Dust Collector |
Worm Gear of Gearbox |
Gear Box of Conveyor |
Complete Rotor Assembly |
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Elevator Pulley Downward |
Side Round Plate (in 2 Pcs.) |
Blade (27x36 with Spring Lock) |
Blade (20x27 Machine with Screw Lock) |
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Elevator Pulley Upward Collar Type |
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Infrastructure
They possess a fully equipped infrastructure in form of skilled, experienced
and dedicated employees as well as ultra-modern machineries, including Lathe
Machines, Milling, Welding Machines, etc. It remains their constant endeavor to
derive optimum results from them so as to live up to the expectations of their
customers. Regular training and interaction sessions are conducted by trained
delegates for their employees. As a result, they succeed in delivering the most
impeccable and superlative shot blasting and Peening machinery to the ultimate
destination.
Quality
They give top priority to the
quality of their products and observe careful measures to ensure flawless
quality products. Stringent quality checks at every stage, right from the
manufacturing stage till the final product dispatch, are observed by them.
These are at par with international standards and thus, they succeed in
delivering unparalleled quality products, exclusively to their esteemed
clients.
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 :
The 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.
The 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. 43.27 |
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UK Pound |
1 |
Rs. 86.28 |
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Euro |
1 |
Rs. 68.24 |
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 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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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54 |
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/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, they have no basis upon which to
recommend credit dealings |
No Rating |
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