MIRA
INFORM REPORT
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Report Date : |
18.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
MACHINES AND ENGINEERING COMPANY |
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Registered Office : |
385, 7th Street, Sanganoor Main Road, Near Railway Gate,
Rathinapuri, Coimbatore – 641027, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1992 |
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IEC No.: |
3297000155 |
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PAN No.: [Permanent
Account No.] |
AAGPW8223P |
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Legal Form : |
Sole Proprietory Concern. |
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Line of Business : |
Manufacturers, Suppliers and Exporter of Concrete block making
machines, Vibrator sand screening machines, Concrete mixer, Vibratory Plate
Compactor/ Earth Rammer, Paving block making machines etc |
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 25000 |
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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. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Sathish |
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Designation : |
Executive |
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Contact No.: |
91-422-2333872 |
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Date : |
08.07.2008 |
LOCATIONS
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Registered Office/ Factory : |
385, 7th Street, Sanganoor Main Road, Near Railway Gate, Rathinapuri,
Coimbatore – 641027, Tamilnadu, India |
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Tel. No.: |
91-422-2333872/ 2330248/ 2332653 |
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Mobile : |
91-9843211690/ 9994355659/ 9894300036 |
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Fax No.: |
91-422-2330248 |
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E-Mail : |
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Website : |
SOLE PROPRIETOR
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Name : |
Mr. J. Wilson |
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Designation : |
Proprietory |
KEY EXECUTIVES
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Name : |
Mr. Sathish |
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Designation : |
Executive |
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Mobile No.: |
91-422-2333872 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers, Suppliers and Exporter of Concrete block making
machines, Vibrator sand screening machines, Concrete mixer, Vibratory Plate
Compactor/ Earth Rammer, Paving block making machines etc |
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Products : |
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Exports : |
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Products : |
Machinery |
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Countries : |
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GENERAL
INFORMATION
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No. of Employees : |
25 |
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Bankers : |
Canara Bank, SSI Branch, Coimbatore |
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Banking
Relations : |
Satisfactory |
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Auditors : |
Not Available |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.5.000 Millions |
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Borrowed : |
- |
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Total : |
Rs.5.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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15.000 |
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LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Details |
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Existence
Verification |
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Name |
Machines and Engineering Company |
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Address |
385, 7th Street, Sanganoor Main Road, Near Railway Gate,
Rathinapuri, Coimbatore – 641027, Tamilnadu, India |
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Phone/ Mobile Numbers |
91-422-2333872/ 2330248/ 2332653 |
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Fax Numbers |
91-422-2330248 |
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Statutory
Approvals |
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Legal Status of Firm |
Proprietorship Firm |
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Income Tax Registration |
AAGPW8223P |
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Central Sales Tax Registration |
593262 |
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State Sales Tax Registration |
325446 |
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VAT/ TIN Registration |
33122021554 |
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Import Export Code |
3297000155 |
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Name of Bank |
Canara Bank, SSI Branch, Coimbatore |
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Credibility
Factors |
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IndiaMART Client Since |
1992 |
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Trade Affiliations |
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SSI Registration |
Yes |
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Export Promotion Council |
Yes |
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Chambers of Commerce Membership |
No |
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D&B D-U-N-S Number |
No |
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Govt. Recognised Export House Status |
No |
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Other Affiliations |
The Coimbatore District small Industries Association |
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Standards &
Certifications |
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Quality Management Systems |
In House Quality Management |
Profile:
Subject is one of the prominent manufacturers, suppliers and exporters
of concrete block making machine, manual block making machine, hydraulic block
making machine has revolutionized the industry with its quality products.
Innovation and technological changes are the essence of survival.
Developing and refining of new processes and methodologies is an integral part
of their overall business.
The continually invest in advanced training to promote knowledge in the
area of technical development, research and production and creating conditions
for innovations.
The right combination of their personnel, machines and total system
capacity for product development, research and production and creating
conditions for innovations.
The right combination of their personnel, machines and total systems
capacity for products development has been the mainstay of their company’s
progress. They lay emphasis on the quality of their products for the
satisfaction of their clients - their prime concern.
They are engaged in engineering products that are in accordance with the
needs and wants of their clients. Their products range includes:
- Concrete
block making machines
- Vibrator sand
screening machines
- Concrete
mixer
- Vibratory
Plate Compactor/ Earth Rammer
- Paving block
making machines
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
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.42.94 |
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UK Pound |
1 |
Rs.85.78 |
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Euro |
1 |
Rs.68.01 |
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 |
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 |
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 |
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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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
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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