MIRA
INFORM REPORT
|
Report Date : |
17.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ISHA ENGINEERING AND COMPANY |
|
|
|
|
Registered Office : |
42-A, Manal Thottam, Ganapathy, Coimbatore – 641107, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Year of Establishment : |
1985 |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AJEPB3200C |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Manufacturers and Exporters of a wide array of hydraulic machines |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 50000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well- established and reputed concern meeting its normal
commitments timeously. Trade relations are fair. Business is active. The concern can be considered good for normal business dealings. |
INFORMATION PARTED
BY
|
Name : |
Miss. Suganthi |
|
Designation : |
Executive |
|
Date : |
08.07.2008 |
LOCATIONS
|
Registered Office/Factory : |
42-A, Manal Thottam, Ganapathy, Coimbatore – 641107, Tamilnadu, India |
|
Tel. No.: |
91-422-2667016 / 2667526 / 2666391 |
|
Mobile No.: |
91-9443032704 |
|
Fax No.: |
91-422-2667016 / 2667016 |
|
E-Mail : |
|
|
Website : |
www.ishengineering.com |
SOLE PROPRIETOR
|
Name : |
Mrs. Bharathi Nirmala |
|
Designation : |
Proprietor |
KEY EXECUTIVES
|
Name : |
Mr. S. Ganesan |
|
Designation : |
Chief Executive |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporters of a wide array of hydraulic machines |
|
|
|
|
Products : |
v Hydraulic
Machines v Hydraulic
Scissor Lifts v Hydraulic
Presses v Material
handling equipment |
|
|
|
|
Exports : |
|
|
Products : |
Machinery |
|
Countries : |
Bangladesh, Malaysia, Singapore and Srilanka. |
GENERAL
INFORMATION
|
No. of Employees : |
35 |
|
|
|
|
Bankers : |
Canara Bank, Coimbatore – 641107, Tamilnadu, India |
|
Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 10.000 Millions |
|
Borrowed : |
0.000 |
|
Total : |
Rs. 10.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
|
31.03.2007 |
|
Sales Turnover |
|
|
40.000 |
LOCAL AGENCY
FURTHER INFORMATION
Trustseal Acceptance
Chart
|
Existence Verification |
|
|
Name |
ISHA ENGINEERING AND COMPANY |
|
Address |
42-A, Manal Thottam, Ganapathy, Coimbatore – 641107, Tamilnadu, India |
|
Phone/ Mobile Numbers |
91-422-3252704 / 2667016 / 91-9443032704 |
|
|
|
|
Statutory Approvals |
|
|
Legal Status of Firm |
Proprietory Concern |
|
Income Tax Registration |
AJEPB3200C |
|
Central Sales Tax Registration |
345266 / Dated : 16.07.2003 |
|
VAT/ TIN Registration |
3382202990 |
|
Excise Registration |
AGEDP3200CXM001 |
|
Import Export Code |
3205009916 |
|
|
|
|
Trade Affiliations |
|
|
SSI Registration |
Yes |
|
Export Promotion Council |
Yes |
|
Chambers of Commerce Membership |
No |
|
D&B D-U-N-S Number |
No |
|
Govt. Recognised Export House Status |
No |
|
Other Affiliations |
Nil |
Profile :-
Established way back in the year 1985, they have made a mark in the
industry as one of the foremost manufacturers and exporters of a wide array of
hydraulic machines. Under the profound supervision of their owner Mr. S.
Ganesan, they have been growing at rapid pace and offering products that
conforms to the industry established standards. Over the period, they have also
established theirselves as an OEM for supplying various earth moving, defence,
automobile, industrial and construction equipment.
The firm works with an aim of aligning their manufacturing practices,
with special emphasis on R and D. in addition to this, they adopt standardized
procedures for executing the tasks, which assist their labor in delivering
unparalled results. They are encompassed with an enthusiastic team of engineers
and professionals, who have stood beside them and have enabled them in
delivering quality products at the most competitive prices. With their honest
and transparent organizational processed, they have achieved a large customer
base.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.43.17 |
|
UK Pound |
1 |
Rs.86.46 |
|
Euro |
1 |
Rs.68.68 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|