MIRA
INFORM REPORT
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Report Date : |
21.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
VHT ENGINEERING |
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Registered Office : |
No. 1, Subhash Chandra Nagar, Civil Aerodrome Road, Singanallur, Coimbatore
– 641014, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Year of Establishment : |
1992 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Supplier of Industrial Goods. |
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 an experienced concern having satisfactory track. Trade relations
are fair. General financial position is satisfied. 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
|
Name : |
Miss Prabha |
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Designation : |
Assistant |
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Date : |
10.07.2008 |
LOCATIONS
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Registered Office/Factory : |
No. 1, Subhash Chandra Nagar, Civil Aerodrome Road, Singanallur,
Coimbatore – 641014, Tamilnadu, India |
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Tel. No.: |
91-422-2273312 / 2271878 |
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Fax No.: |
91-422-2273209 |
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E-Mail : |
vht_engg@yahoo.com |
SOLE PROPRIETOR
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Name : |
Mrs. G. Hilda |
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Designation : |
Proprietor |
KEY EXECUTIVES
|
Name : |
Mr. Pal George |
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Designation : |
Managing Director |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Supplier of Industrial Goods. |
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Products : |
v Blow down valve v Blow down valve
– diaphragm type v Butterfly valve v Butterfly valve
in screw compressor, receipt compressor v Intake valve v Used in screw and
receipt compressor v Oil level
indicator v Diesel driven
screw compressor v Oil stop valve v Oil stop valve –
in screw compressor, air flow controlled pulse operator v Pressure
regulator v Regulator v Safety valve v Safety valve are
used in receipt and screw compressor valves v Silencer v Strainer |
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Exports : |
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Products : |
Valves and Components. |
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Countries : |
Austria, Korea and Oman. |
GENERAL
INFORMATION
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Bankers : |
Tamilnad Mercantile Bank Limited, Nanjappa Road, Coimbatore – 641001,
India |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 5.000 Millions |
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Borrowed : |
0.000 |
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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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|
31.03.2007 |
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Sales Turnover |
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|
10.000 |
LOCAL AGENCY
FURTHER INFORMATION
Trustseal Acceptance
Chart
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Existence Verification |
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Name |
VHT ENGINEERING |
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Address |
No. 1, Subhash Chandra Nagar, Civil Aerodrome Road, Singanallur,
Coimbatore – 641014, Tamilnadu, India |
|
2nd address |
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Phone/ Mobile Numbers |
91-422-2273312 / 2271878 |
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Fax Numbers |
91-422-2273209 |
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Statutory Approvals |
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Legal Status of Firm |
Proprietorship Firm |
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VAT/ TIN Registration |
33251882433 |
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Import Export Code |
3204004759 |
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Name of Bank |
Tamilnad Mercantile Bank Limited, Nanjappa Road, Coimbatore – 641001,
India |
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Credibility Factors |
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Years of Establishment |
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 |
Yes |
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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 |
Codissa NCTI – National center for trade information WTPF – World Trade Point Federation |
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Standards & Certifications |
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Quality Management Systems |
ISO 901 : 2000 |
Profile:-
Subject is one of the leading manufacturers of
screw compressor valves and recip compressor valves. They also provide items
such as recip, aluminium and cast iron industrial and borewell compressors,
water separators, free filters, two- wheeler lift and service station
equipments such as iron operated and hand operated grease pumps, oil pumps, car
washers, grease and oil guns, tire in flatter, oil spray guns, air guns and
horse reels.
They deliver superior quality to their clients
through cost – effective, high value services. Subject has established in 1993
as a small unit and has excelled so much in its achievement that it is now a
leading supplier of M/s ELGI Equipments Private Limited, Coimbatore, India
Subject is an ISO 9001 : 2000 certified company.
They are involved in quantity performance valve spares and manufacturing air
compressor valves, pneumatic valves and spares. Aside from manufacturing,
subject has been involved in developing screw compressor valves; recip
compressor valves and bore well compressors, two- wheeler lift items etc.
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.78 |
|
UK Pound |
1 |
Rs.85.51 |
|
Euro |
1 |
Rs.67.90 |
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 |
|
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
|
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 |
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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 |
|
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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