MIRA
INFORM REPORT
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Report Date : |
04.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
MANISH ENTERPRISES |
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Registered Office : |
26/1, American Colony, High Grounds, Bangalore – 560 001, Karnataka. |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
2003 |
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PAN No.: [Permanent
Account No.] |
ADRPR4667E |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Distributor and Exporter of an impressive category of Drilling
Equipment, Mounted Hydraulic drill Rigs and Skid Mounted Rigs, Hole Drilling,
Button Bits and Hammer etc. |
RATING and
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 5000 |
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Status : |
Satisfactory |
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Payment Behavior : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established concern having satisfactory track. Trade
relations are fair. 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. A. Ravinder Reddy |
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Designation : |
Proprietor |
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Tel No : |
91-80-32915875 |
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Mobile No.: |
91-9448369369/ 9395569369 |
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Date : |
21.06.2008 |
LOCATIONS
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Registered Office : |
26/1, American Colony, High Grounds, Bangalore-560 001, Karnataka,
India. |
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Tel. No.: |
91-80-32915875 |
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Mobile No.: |
91-9448369369/ 9395569369 |
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Fax No.: |
91-80-22354348 |
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E-Mail : |
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Website : |
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Area : |
600 sq.ft. |
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Location : |
Rented |
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SOLE PROPRIETOR
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Name : |
Mr. A. Ravinder Reddy |
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Designation : |
Proprietor |
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Address : |
26/1, American Colony, High Grounds, Bangalore-560 001, Karnataka,
India. |
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Date of Birth/Age : |
38 Years |
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Qualification : |
Engineer |
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Experience : |
18 Years |
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BUSINESS DETAILS
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Line of Business : |
Distributor and Exporter of an impressive category of Drilling
Equipment, Mounted Hydraulic drill Rigs and Skid Mounted Rigs, Hole Drilling,
Button Bits and Hammer etc. |
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Products : |
· DTH Bits and
Hammers · DTH/ Rotary
Drill Rigs · Skid Mounted
Rigs · Tractor Mounted
Drilling Rigs |
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Exports : |
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Countries : |
Uganda, Zambia |
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Terms : |
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Selling : |
Credit 30 Days |
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Purchasing : |
Credit 30 to 45 Days |
GENERAL
INFORMATION
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Suppliers : |
· K.L.R. Industries
(Hyderabad) · Deepa Rock
Drills (Hyderabad) · Sawer Du Fos
(Pune) |
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Customers : |
Kannan Bore wells Sellamma Rock Drills Rani Rig Services |
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No. of Employees : |
2 |
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Bankers : |
I C I C I Bank , Kumera Park, Bangalore - 560 001. |
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Facilities : |
About 0.200 Million |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
M/s Vishnu Bharat and Company Chartered Accountants |
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Address : |
Bangalore |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.1.000 Million (Approx) |
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Borrowed : |
-- |
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Total : |
Rs.1.000 Million (Approx) |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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6.000 |
3.200 |
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Profit/Loss for the year |
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About 10% |
About 10% |
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Export Value |
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Approx 2.500 |
Approx 1.000 |
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Normal inventory level about Rs.1.000 Million
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART:
|
Parameters |
Detail |
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Name |
Manish Enterprises |
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Address |
26/1, American Colony, High Grounds, Bangalore-560 001, Karnataka,
India. |
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Phone/ Mobile
Numbers |
91-80-32915875 91-9448369369/ 9395569369 |
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Fax Numbers |
91-80-22354348 |
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Electricity Bill |
EH 10130 |
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Legal Status
of Firm |
Proprietory |
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Income Tax
Registration |
ADR PR 4667 E (Proprietor Abroad) |
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VAT/TIN
Registration |
29290202825 |
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Import Export
Code |
0705011402 |
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Name Of the Bank |
ICICI Bank, Kumara Park |
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Current Account
Number |
625305013306 |
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Account Since |
About 5 Years |
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India Mart
Client Since |
Two Years |
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Year Of
Establishment |
2003 |
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Export Promotion
Council |
Yes EEPC |
WEBSITE DETAILS:-
Profile
Subject are distributor and exporter of an impressive category of drilling equipment, rock drilling equipment, mounted hydraulic drill rigs and skid mounted rigs (core drilling, blast hole drilling, water well drilling) hole drilling, button bits and hammer etc.
Their hi-tech infrastructure, effective production management, stringent
quality assurance drills and innovative
R and D department are the driving force behind their tremendous growth
and never ending thrust for producing quality products, which are customer
friendly and available at an affordable price for their large existing and new
clients.
Mission
With a comprehensive range of products, their mission is to offer products
conforming to global quality standards.
Quality Assurance
"Quality" has always been their forte and one of the major
reason behind their success. In order
to ensure total quality controlled production, all the products go through a
stringent quality assurance tests, and only the products that meet the
requirement of their quality control managers are furthered to their esteemed
clients.
Their Strengths
Few of many strengths that Concern posses:
· Highest level of expertise in their field of operation.
· Continuous and innovative R and D to incorporate new technologies.
· Dedicated management and skilled workforce.
· Production of low maintenance products.
· Prompt and effective after sales support.
· On time delivery of all products.
Product Range
Their products have made a mark in the global market for their consistent quality and performance. They are scientifically designed and manufactured under stern quality checks.
DTH Bits and
Hammers
Hammers that are heavy duty tools with simple design. They have the ability
to provide maximum performance and can be maintained at a minimum cost.
Available in various models as per the industrial applications.
DTH/Rotary
Drill Rigs
Ideal for hard rock application, rotary drill rigs can work on low to high
pressure radius. They are equipped with high rate of penetration while
utilizing less amount of air. It posses excellent under water characteristics.
Skid Mounted
Rigs
These are manufactured by high speed diesel engine and hydraulic transmission
technology. Equipped with air-operated water cooling auxiliary brake and rotary
table transmission box with anti-torque release device.
Tractor Mounted Drilling Rigs
They are distributor of high quality rotary/DTH truck mounted air
compressor having drilling capacity up to 200mtr. They can perform with high
efficiency under extreme conditions. The tractor carrier is provided for easy
transport.
CMT REPORT
(Corruption, Money Laundering and Terrorism]
The Public Notice information has been collected from various stheirces
including but not limited to: The Ctheirts, 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 :
Their
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.
Their 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 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 |
NO |
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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
unfavtheirable 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 |
Unfavtheirable and favtheirable 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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