MIRA
INFORM REPORT
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Report Date : |
14.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
PIYUSH ROTOMAC |
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Registered Office : |
Plot no. A/127, Road no. 22, Wagle Industrial Estate, Thane - 400604,
Maharashtra |
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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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IEC No.: |
0304033871 |
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PAN No.: [Permanent
Account No.] |
AAAPP7928C |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Rotational
Moulding machine, mould and pulvarlzor. |
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 122500 |
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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. Trade relations are
fair. Payments are reported as 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. Manglesh Saxena |
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Designation : |
Marketing and Exports |
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Date : |
30.06.2008 |
LOCATIONS
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Registered Office : |
Plot no. A/127, Road no. 22, Wagle Industrial Estate, Thane - 400604,
Maharashtra, India |
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Tel. No.: |
91-22-25812297 / 5626481 / 25831551 |
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Mobile No.: |
91-9821156732 |
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Fax No: |
91-22-25812297 |
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E-Mail : |
piyush_rotomac@rediffmail.com |
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Website : |
www.piyushrotomac.com |
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Area : |
6800 sq fts. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Vasant N. Panchal |
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Designation : |
Proprietor |
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Address: |
A/4, Bhaktidham Co- operative Housing Society Limited, Sector -1, Shrinagar,
Wagle Industrial Estate, Thane – 400604, Maharashtra, India |
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Date of Birth/Age : |
45 years |
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Qualification : |
HSC |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Rotational
Moulding machine, mould and pulvarlzor. |
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Products: |
v Bi
Axial Rotomoulding Machine v Open
Fired Rotational Molding Machine v Box
Type Rotational Moulding Machine v Vertical
Tank Mould v Horizontal
Tank Mould v Septic
Tank Mould v Spherical
Tank Mould v Ice
Box Mould v Plastic
Crates v Traffic
Mould v Toilet
Booth Mould v Telephone
Booth Mould v Dust
Bin And Wheel Barrow Mould v Ladder
and Slide Mould v
Rocker Mould. |
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Exports : |
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Products : |
Rotational Moulding machine, mould and
pulvarlzor. |
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Countries : |
Kenya, Africa, Middle – East, Thailand, Ghana, Lybia, South Africa and
Bangladesh and Nigeria. |
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Terms : |
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Selling : |
L/C, Cash |
GENERAL
INFORMATION
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Customers : |
v End Users v Association of Rotational Moulders (ARMI) v Federation of Indian Exports Organizations (FIEO). |
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No. of Employees : |
24 (Office – 4 and Factory –
20) |
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Bankers : |
Dena Bank, Srinagar Branch, Thane - 400604, Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Jayesh Shah (Chartered Accountant) |
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Address : |
Ghatkopar |
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Associates/Subsidiaries : |
v K. M. Industries Ahmedabad –
380025, Gujarat, India |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 24.500 Millions |
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Borrowed : |
0.000 |
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Total : |
Rs. 24.500 Millions |
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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20.000 |
15.000 |
LOCAL AGENCY
FURTHER INFORMATION
Trustseal Acceptance
Chart
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Existence Verification |
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Name |
Piyush Rotomac |
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Address |
Plot no. A/127, Road no. 22, Wagle Industrial Estate, Thane - 400604,
Maharashtra, India |
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Phone/ Mobile Numbers |
91-22-32447232 |
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Fax Numbers |
91-22-25812297 |
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Statutory Approvals |
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Income Tax Registration |
AAAPP7928C |
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Central Sales Tax Registration |
27280017254C Date: 01.04.2006 |
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VAT/ TIN Registration |
27280017254V Date: 01.04.2006 |
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Excise Registration |
Nil |
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Import Export Code |
0304033871 |
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Name of Bank |
Dena Bank |
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Account Since |
2003 |
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Credibility Factors |
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Indiamart Client Since |
3 years |
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Years of Establishment |
2003 |
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Trade Affiliations |
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SSI Registration |
Yes |
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Export Promotion Council |
FIEO |
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Chambers of Commerce Membership |
Yes |
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Standards & Certifications |
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Quality Management Systems |
ISO – 2000 : 2001 |
Trade References:-
v
Gmizarhak Moulders, Goa
v
United Polymers, Kerala
v
Roto Moulders
v
R. K. Plastic
v
Geepee Industries
Note:- Subject started in 1990 at Vikroli and then shifted to current
address in 2003
Profile
Established in the year 1990, they are one of the leading manufacturers
and exporters of a wide range of rotational molding machine and moulds. These
are used in many industries for manufacturing of a wide range of products with
accurate dimensions, shapes and sizes. Their long industry standing enables
them in manufacturing a customized range, which cater to the specific
requirements of their clients spread across the globe
Infrastructure
Their state-of-the-art
infrastructure is the backbone of their organization and is facilitated with
machines, which enables in the fault free production of the moulds and
machines. Some of the machines, which they have installed in their
manufacturing unit are-
v
Welding Machine
v
Cutting Machine
v
Buffing Machine
v
Grinding Machine
v
Press
v
Sheering Machine
Quality
Assurance
Quality, being the hall mark of
their organization is never compromised upon. They ensure to maintain higher
standards of quality at each level of the working process. At their concern,
quality is stringent kept under serious scrutiny to ensure that final products
that reach to the clients are without any errors.
Their Team
They have a team of well trained
and qualified personnel, who have industry expertise and technical know how
related with the manufacturing of the moulds and machines.
They are associated with reliable C and F agents, who ensure to offer secure
and fast deliveries for their products at the destined place within stipulated
frame of time. It also keeps a track on the loading and unloading of the
consignment and ensure that the products are reached at the final destination
within stipulated frame of time.
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 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.42.72 |
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UK Pound |
1 |
Rs.84.42 |
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Euro |
1 |
Rs.67.38 |
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 |
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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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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