MIRA
INFORM REPORT
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Report Date : |
04.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
DYNAMICS CORPORATION |
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Registered Office : |
40, Veer Nariman Point, 3/A Hashim Building, 1st Floor, Opp.
Akbarally Fort, Mumbai – 400 023, Maharashtra. |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1972 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMD15454F |
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PAN No.: [Permanent
Account No.] |
AAAFD2724L |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturers and Exporters of anti-vibration mounts, rubber
and metal to rubber bonded products, rubber parts, expansion type fasteners
and customized rubber products. |
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 4000 |
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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 reported as 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. Satish Shah |
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Designation : |
Partner |
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Contact No.: |
mobile no. 91-9820246917 |
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Date : |
27.06.2008 |
LOCATIONS
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Registered Office : |
40, Veer Nariman Point, 3/A Hashim Building, 1st Floor,
Opp. Akbarally Fort, Mumbai – 400 023, Maharashtra, India |
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Tel. No.: |
91-22-22871429 |
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Mobile No.: |
91-9820246917 / 9820201275 /
9819093202 |
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Fax No.: |
91-22-22871428 |
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E-Mail : |
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Website : |
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Area : |
Around 600 sq. ft. |
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Location : |
Owned |
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Factory : |
MIDC, Andheri [East], Mumbai, Maharashtra, India |
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Area : |
Around 3000-4000 sq. ft. |
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Location : |
Owned |
PARTNERS
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Name : |
Mr.
Satish Shah |
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Designation : |
Partner |
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Date of Birth/Age : |
59 Years |
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Qualification : |
Engineer |
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Experience : |
Around 30 Years |
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Name : |
Mr. Rahul
Shah |
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Designation : |
Partner |
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Date of Birth/Age : |
29 Years |
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Qualification : |
Graduate |
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Experience : |
Around 5-6 Years |
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Name : |
Mr.
Saurabh Shah |
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Designation : |
Partner
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Date of Birth/Age : |
25 Years |
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Qualification : |
M.B.A. |
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Experience : |
Around 5 Years |
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Name : |
Mr. Suresh Shah |
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Designation : |
Partner |
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Date of Birth/Age : |
61 Years |
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Qualification : |
Graduate |
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Experience : |
Around 30-35 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of anti-vibration mounts,
rubber and metal to rubber bonded products, rubber parts, expansion type
fastners and customized rubber products. |
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Products : |
Anti-vibration
mounts · Dynamounts · Vibration
Isolation Mounts · Iso-Mounts · Roller
Mounts · Vibramount · Levelling
Mounts · Instra
Mount · Sandwich
Pads · Single
Stud Level · V-Style
Mounts · Base
Cylinder Mounts · Base
Mounting · Base
Neoprene Mounts · Cup
Mounts (2 Holes) · Cup
Mounts (4 Holes) · Cup
Mounting · Square
Rubber Pads · High
Deflection Mount Expansion
Type fasteners · Dowell
Fasteners · Projected
Fasteners · Double
Sleeves Fasteners · Pin
Type Fasteners · Bullet
Type Fasteners · Single
Sleeves Fasteners · AVM
With Guide Plate Customized
Rubber Products · O
Rings · Oil
Seals · Elliptical
Mount · Rectangular
Compression · Rubber
Gaskets · Rubber
Sheet · Spider
Coupling |
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Exports : |
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Countries : |
Europe, Africa,
UK, USA Gulf and Asian Countries |
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Terms : |
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Selling : |
L/C, Cash and Credit [30 days] |
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Purchasing : |
Cash and Credit [30 days] |
GENERAL
INFORMATION
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Customers : |
Wholesalers and End Users |
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No. of Employees : |
22 (In office-10 , In Factory-12) |
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Bankers : |
Dena Bank, B.M.O., Fort Branch |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
K. M. Modi and Associates Chartered Accountants |
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Collaborators : |
JSC “Zavod im. G.I. Petrovsky” , Russia |
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Associates/Subsidiaries : |
S. Tabbakh
Private Limited Address
: 3, Hashim Building, 1st
Floor, 40 Veer Nariman Road, Fort, Mumbai - 400001, Maharashtra Line
of Business : Exporters of Rubber and Items
Related Diamond
Engineering Company Address
:3, Hashim Building, 1st
Floor, 40 Veer Nariman Road, Fort, Mumbai - 400001, Maharashtra Line
of Business : Manufacturer and Dealer in
Expansion types of fastners |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Around Rs. 0.500 – 1.000 Million |
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Borrowed : |
-- |
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Total : |
Around Rs. 0.500 – 1.000 Million |
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 |
7.000 |
Around 5.000 – 6.000 |
Around 4.000 – 5.000 |
Expected Sales (2008-09) : Above Rs. 15.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART:
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Parameters |
Detail |
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Income Tax
Registration |
AAAFD2724L |
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VAT/TIN
Registration |
27850198088 |
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Import Export
Code |
0305057294 |
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Name Of the Bank |
Dena Bank |
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Current Account
Number |
22359 |
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Account Since |
6 Years |
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India Mart
Client Since |
3 Years |
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SSI Registration
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No |
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Export Promotion
Council |
No |
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Chambers Of
Commerce Membership |
No |
Trade Reference
- Indian Navy
- Department of
Atomic Energy
- Indian
Railway
- N.S.I.C.T.
- L & T
& many more private Companies
Website Details
Profile
The founders and management of subject have over 35 years of combined experience in the manufacturing of anti-vibration mounts, rubber and metal to rubber bonded products, rubber parts, expansion type fasteners and customized rubber products.
They have worked closely with the region’s most reputed
government, semi-government and private houses. They are proud of the quality,
workmanship, and ethical and morals standards they bring into their business
ventures.
An overview
The founders and management of subject have over 35 years of
combined experience in the manufacturing of anti-vibration mounts; rubber and
metal to rubber bonded products, rubber parts, expansion type fasteners and
customized rubber products. They have worked closely with the region's most
reputed government, semi-government and private houses. They are proud of the
quality, workmanship, and ethical and morals standards they bring into their
business ventures.
Corporate Mission
Subject’s mission is to continuously invent high-quality
engineering products that will produce a cost effective and optimal solution
for their clients. They have consistently increased their client base by
meeting the client needs in terms of cost and performance goals.
Clients and Collaborations:
Subject was started in 1972 as a family venture. Over the years
as they gained the respect and trust of their clients through their dedication,
perseverance and insatiable desire to strive for perfection their clientele has
grown.
They boast of a diverse and varied clientele. They believe
the reputation of their clients and the long-standing relationship of mutual
trust and understanding that they have developed with them is the seal of
excellence for their products.
Client listing according to sectors
Aeronautical:
Indian Airlines, Air India
Railways:
Western Railways, Central Railway, Konkan Railway
Telecommunication:
Department of Telecommunication, Government of India
Energy:
Atomic Energy, Larson and Toubro, Bharat Heavy Electrical
Limited
Nautical:
India Navy
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.43.30 |
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UK Pound |
1 |
Rs.86.13 |
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Euro |
1 |
Rs.68.72 |
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 |
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 |
NO |
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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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46 |
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
unfavorable 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 |
Unfavorable & favorable 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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