MIRA
INFORM REPORT
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Report Date : |
21.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHRI SALASAR ENGINEERING WORKS |
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Registered Office : |
C – 50, Focal Point, Mandi Gobindgarh – 147 301, Punjab |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
2007 |
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TIN No.: |
03122043001 |
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PAN No.: [Permanent
Account No.] |
ABQPM6540G |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Cold Rolling, Hot Rolling Mill Plants
Etc. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 15000 |
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Status : |
New Concern |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new concern and yet to establish track. No payment
records or banking relations are known. Initially, The concern can be considered for small to mediocre
business dealings at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. A K Gogi |
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Designation : |
Proprietor |
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Date : |
11.07.2008 |
LOCATIONS
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Registered Office / Factory : |
C – 50, Focal Point, Mandi Gobindgarh – 147 301, Punjab, India |
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Tel. No.: |
91-1765-529070/ 250670 |
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Mobile No.: |
91-9872644406 |
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Fax No.: |
91-1765-250670 |
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E-Mail : |
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Website : |
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Area : |
2500 Sq. Yards |
PROPRIETOR
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Name : |
Mr. A K Gogi |
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Designation : |
Proprietor |
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Address : |
Mandi Gobindgarh – 147 301, Punjab,
India |
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Date of Birth/Age : |
57 Years |
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Experience : |
30 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Cold Rolling, Hot Rolling Mill Plants
Etc. |
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Products : |
v Steel Rolling
Mill Plants v Shearing Machines v Testing Equipment
v Gear Couplings v Pinions
Standards v Pinch Rolls v Mill Stands v Rotary Shears v Plate Shears v Roller Guide
Boxes v EOT Cranes v Gears v Bundle Cutting
Shearing Machine v Billet Shears v Vertical Stands v Fly Wheels v Straightening
Machines v Electric Motors and Transformers
v Material Handling Equipment
v Rolled Products
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Exports : |
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Countries : |
v Oman v South Africa |
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Terms : |
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Selling : |
Cash and Credit ( 30 days) |
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Purchasing : |
Cash and Credit ( 30 days) |
GENERAL
INFORMATION
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Customers : |
v End Users Major Customers v Samana Alloys Private Limited (Mandi Gobindgarh) v Baba Strips and Tubes Private Limited (Raniganj, West Bengal) v Kaytx Industries Private Limited (Ambay Majra, Mandi Gobindgarh) v H.M. Steel (Sirmour, H.P.) v Arihant Steel Rolling Mill (Mandi Gobindgarh) v Shri Salasar Steel Private Limited (Mandi Gobindgarh) v Aditya Industries, Nahan Road (Kala Amb, H.P.) v Bansal Strips Private Limited Sirhind Side (Mandi Gobindgarh) v Jolly Steel, Industrial Area, Buland Saher (Ghaziabad) v Indo
Steel, Ghumripundi (Chennai) |
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No. of Employees : |
Total : 23 ( Office : 5, Factory : 18) |
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Bankers : |
v HDFC bank Mandi Gobindgarh v Central Bank of
India Mandi Gobindgarh |
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Facilities : |
Limit Rs. 1.000 million |
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Banking Relations
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Unknown |
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Auditors : |
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Name : |
Rajesh Kumar and Company Chartered Accountants |
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Address : |
Mandi Gobindgarh |
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Sister Concerns : |
A K Gogi and Associates |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 3.000 millions |
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Borrowed : |
-- |
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Total : |
Rs. 3.000 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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Share Capital |
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3.000 |
Expected Sales (2008-09): Rs. 15.000 millions
LOCAL AGENCY
FURTHER INFORMATION
Trade References
v
Arhant Steel Rolling Mills – Mandi
v
Shri Salasar Steel Rolling Mills – Mandi Gobindgarh
As Per Website
Details
Subject is are well established
and renowned consultants for Strip and Structural Mills in North India. The
company is headed by Mr. A.K. Gogi who is renowned for his skill and knowledge
in rolling of structural and Strips. The concern has its own set up to
manufacturer rolling mill equipment. They also take up turnkey Jobs for the
installation of complete mill. They also provide consultancy services for strip
and structural mills.
Experience
Mr. A.K. Gogi has
been working in the field of Rolling Mill for the last 25 years and has vast
experience of this line. Based on his experience, he has set up various mill,
which are running satisfactory under his able guidance.
Quality
Flawless and
unbeatable quality and strikingly ingenious & elegant designs, together
with lavish & sleek finishes, are the lifeblood of the extensive business.
They perform very censorious and scrupulous observations, instructions, and
inspections at every stage of fabrication and manufacture, from the very
beginning of the procurement of materials to the packaging and dispatch from
company.
Customer Satisfaction
Customer
satisfaction is the backbone of the extensive business and harmonious
relationship with the customers and clients. They undertake stringent quality
control measures, at every stage of manufacture, ranging from the very
procurement of materials to the dispatch of the finished products to the
trusted customers.
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 :
The 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.
The 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. 42.71 |
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UK Pound |
1 |
Rs. 85.11 |
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Euro |
1 |
Rs. 67.73 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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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 |
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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35 |
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, they have no basis upon which to
recommend credit dealings |
No Rating |
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