MIRA INFORM REPORT

 

 

 

Report Date :

22.07.2008

 

IDENTIFICATION DETAILS

 

Name :

VOLT ON ENGINEERING

 

 

Registered Office :

305/2, 2nd Floor, Triplicane High Road, Triplicance, Chennai-600005, Tamilnadu

 

 

Country :

India

 

 

Financials (as on) :

31.03.2008

 

 

Year of Establishment:

1994

 

 

PAN No.:

[Permanent Account No.]

AGVPP3033F

 

 

Legal Form :

Sole Proprietory Concern

 

 

Line of Business :

Manufacturer and Exporter of Designing and Consultants Products

 

 

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 25000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

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 good for normal business dealings at usual trade terms and conditions.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Prem Kumar

Designation :

Proprietor

Contact No.:

91-9840049491

Date :

12.07.2008

 

 

Name :

Ms. Kalaiselvi

Designation :

Assistant

Contact No.:

91-44-28587947

Date :

12.07.2008

 

 

LOCATIONS

 

Registered Office :

305/2, 2nd Floor, Triplicane High Road, Triplicance, Chennai-600005, Tamilnadu, India

Tel. No.:

91-44-28587947/28591553/28583806/42077006

Fax No.:

91-44-28591533

E-Mail :

voltongroup@yahoo.com

Website :

www.volton.com

Area :

3000 Sq ft (including factory)

Location :

Rented

 

 

SOLE PROPRIETOR

 

Name :

Mr. S Prem Kumar

Designation :

Proprietor

Date of Birth/Age :

48 years

Qualification :

Engineer

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Designing and Consultants Products

 

 

Products :

General Electrical Products & Panels

  • Low Tension Panels
  • PLC Based Controlled panels
  • Industrial Automation Service
  • Relay based control panel
  • CNC Based Control Panel
  • AC & DC Drive Control Panel
  • Welding Power factor Controller
  • Lift Power Factor Controller
  • APFC Panel & Harmonic Filter Controller
  • AMF Panel
  •  Metering Panel
  •  Multi Generator Management Panels
  •  Invertors(up)
  • Centralized Voltage Stabilizer
  • Servo Voltage Stabilizer
  • Soft Start Motor Controller
  •  Motor Control Centre/Panels(MCC)
  • Step up/Step down Transformers
  • Dry Run Protector without Probe(up)
  • Coil-Moisture Safety Protector(up)
  • SSB, MLSB, Distribution Panels
  •  AMF Panels & Battery Chargers
  • AMF Controller (Micro Controller)
  • (ACCL)Current Limit Control
  • Electric Control Panels
  • RYB–Phase Sequence Corrector
  • NFCB(Neutral Failure Protector
  • Timers & Multi Timer
  • Instrument Control Panels (up)
  • (CVT) Constant Volt Transformer
  • Isolation Transformer
  •  Auto Gen / Main Changeover
  •  Engine Safety Controller (up)
  • Power Factor Controller (Micro Controller)
  •  Maximum Demand Controller
  • High / Low Voltage Protector
  •  Variable Voltage / Current Selector
  • Electronic Circuit Breaker (Accuracy)
  • Remote Control of Generator
  • Automatic Phase Changer (CETL
  • Ad-Display Scroller (up)
  •  Programmable Timer Controller

 

 

Designers & Manufacturers of Motor Control Panels & Products Below:

  • BMS (Building Maintenance System) for Controlling Motors from controls room
  • Engine/Motor safety controller
  • Sewage Motor controller with Coil moisture protection
  • Sub-immersable motor control panel with Coil moisture protection
  • Level Sensing controller
  • High / Low Voltage Protector
  • Hydro Electric Panel
  • Electronic Short circuit breaker

 

 

Exports :

 

Countries :

Nigeria, Kuwait

 

 

Terms :

 

Selling :

Cash

 

 

Purchasing :

Cash

 

 

GENERAL INFORMATION

 

Customers :
  • Wholesalers
  • Retailers
  • End Users

 

 

No. of Employees :

45

 

 

Bankers :
  • Lakshmiivilas Bank, Triplicance Baranch, Chennai-600005, Tamil Nadu, India
  • Canara Bank

 

 

Facilities :

OD- Rs.5.000 millions

 

 

 

Banking Relations :

Satisfactory

 

 

Auditors :

 

Name :

Mr. Selve Kumar

(Chartered Accountant)

Address :

Villiwakkam, Chennai, Tamil Nadu, India

 

 

Associates/Subsidiaries :

Volt on Controls

305/2, 3nd Floor, Triplicane High Road, Triplicance, Chennai-600005, Tamilnadu, India

 

 

CAPITAL STRUCTURE

 

 

Capital Investment :

 

Owned :

Rs.5.000 millions

Borrowed :

-----

Total :

Rs.5.000 millions

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

 

 

31.03.2007

Sales Turnover

 

 

15.000

 

Expected Sales (2007-08) : Rs.30.000 millions

 

 

                                                                             FINANCES

 

Parameters

 

31.03.2008

31.03.2007

SHAREHOLDERS FUNDS

 

 

 

Share Capital

 

0.494

0.447

 

 

 

 

BORROWED FUNDS

 

 

 

Unsecured Loans

 

0.070

0.028

 

 

 

 

Current Liabilities and Provisions

 

2.167

1.233

 

 

 

 

Total Of Balance Sheet

 

2.731

1.960

 

PROFIT & LOSS ACCOUNT

 

PARTICULARS

 

 

31.03.2008

31.03.2007

Sales Turnover

 

4.057

3.537

Other Income

 

0.000

0.000

Total Income

 

4.057

3.537

 

 

 

 

Profit/(Loss) Before Tax

 

0.160

0.117

Provision for Taxation

 

0.027

0.007

Profit/(Loss) After Tax

 

0.133

0.110

 

 

 

 

Expenditures :

 

 

 

 

Depreciation & Amortization

 

0.037

0.049

 

Other Expenditure

 

3.860

3.371

Total Expenditure

 

3.897

3.420

 

 

KEY RATIOS

 

PARTICULARS

 

 

 

31.03.2008

31.03.2007

PAT / Total Income

(%)

 
3.28

3.11

 

 

 
 

 

Net Profit Margin

(PBT/Sales)

(%)

 
3.94

3.31

 

 

 
 

 

Return on Total Assets

(PBT/Total Assets}

(%)

 
NA

NA

 

 

 
 

 

Return on Investment (ROI)

(PBT/Networth)

 

 
0.32

0.26

 

 

 
 

 

Debt Equity Ratio

(Total Liability/Networth)

 

 
4.53

2.82

 

 

 
 

 

Current Ratio

(Current Asset/Current Liability)

 

 
NA

NA

 

 

 

 

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Particulars

Details

Existence Verification:

 

Name

Volt on Engineering

Address

305/2, 2nd Floor, Triplicance High Road, Chennai-600005, Tamil Nadu, India

Phone / Mob No:

91-44-28587947/28591533/28583806/42077006

Fax no.

91-44-28591533

Statutory Approvals:

 

Legal Status of the firm

Proprietorship firm

Income Tax Registration

PAN: AGUPP3033F

Central Sales Tax Registration

CST 698390

State Sales Tax Registration

TNGST 0661412

VAT/TIN Registration

33840661412

Import Export Code

040023300

Name of Bank

Lakshmi Vilas Bank, TRiplicance Branch, Chennai-600005, Tamil Nadu, India

Account Since

14 years

Creditibility Factors:

 

Indiamart client Since

3 years

Year of Establishment

Since 1994

Trade Affiliations:

 

SSI Registration

YES

Export Promotion Council

YES

Chambers of Commerce Membership

NO

D and B D-U-N-S Number

91-814-0018

Standards and Certifications:

 

Quality Management Systems

YES

Enviroment Management Systems

NO

Other Certificates

ISO 9001:2000

They Have Certificates of CETL- Government of Tamil Nadu

ETDC – Government of India

           

 

 

Trade References:

 

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.42.71

UK Pound

1

Rs.85.11

Euro

1

Rs.67.73

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

6

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

6

--RESERVES

1~10

6

--CREDIT LINES

1~10

6

--MARGINS

-5~5

-----

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--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

NO

TOTAL

 

54

 

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

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions