MIRA
INFORM REPORT
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Report Date : |
05.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
FRIENDS ENGINEERING OVERSEAS EXPORTS |
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Registered Office : |
J -126 B, Vishnu Garden , New Delhi – 110 018 |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment: |
2002 |
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IEC No.: |
0552051396 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
57/07470256924/1102 |
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PAN No.: [Permanent
Account No.] |
AAWPM7429F |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Printing and Packaging Machinery |
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 3000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established and reputed concern meetings it normal
commitments timeously. Trade relations are fair. Business is active. The
concern can be considered good for normal business dealings. |
LOCATIONS
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Registered Office / Export Office : |
J -126 B, Vishnu Garden , New Delhi – 110 018, India |
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Tel. No.: |
91-11-25984953 |
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Mobile No.: |
91-9810626661 |
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Fax No.: |
91-11-25921041 / 25985770 |
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E-Mail : |
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Website : |
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Area : |
600 Sq.fts |
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Location : |
Rented |
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Factory: |
390, Focal Point , Amritsar - 143001, Punjab, India |
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Tel. No.: |
91-183-3297911 |
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Mobile No.: |
91-9876179525 |
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Fax No.: |
91-183-2707931 |
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E-Mail : |
friendsengg@rediffmail.com |
SOLE PROPRIETOR
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Name : |
Mr. Manjeet Singh |
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Designation : |
Proprietor |
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Date of Birth/Age : |
48 years |
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Qualification : |
Graduate |
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Experience : |
22 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Printing and Packaging Machinery |
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Products : |
·
Corrugated
Box Plant Machinery ·
Paper
Converting Machinery ·
Binding
Machinery ·
Printing
Machinery ·
Exercise Note
Book Machinery ·
Pre Press
Machines ·
Die Cutting
Machinery ·
Reel to Sheet
cutter ·
Ecentric
Slotters ·
Four Bar
Rotary Cutting and Creasing ·
Sheet pasting
Machines ·
Hydraulic
Type Programmable ·
Fully
Automatic Paper Cutters ·
Semi
Automatic and ordinary Paper Cutters ·
Book
Stitching Machines ·
Sheet
lamination Machines ·
Thread Book
Sewing Machines ·
Spiral
Binding Machines ·
Envelope
Punching Machines ·
Carton
Folding Pasting machines ·
Paper folding
Machines ·
Toilet Roll
Making Machines ·
Offset
Printing Machinery ·
Roto Gravure
Printing Machine ·
Flexo Graphic
Printing Machinery |
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Brand Names : |
“Friends” |
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Exports : |
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Countries : |
Africa U.S.A., UAE, Zambia, Kenya, Uganda, Libiya, Nigeria, Japan, Iran, Israel, Iran, Tanzania |
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Terms : |
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Selling : |
L/C, Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL
INFORMATION
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Suppliers : |
Own Manufacturing in Sister Companies |
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Customers : |
Africa Paper Bags Industries Limited, Tanzania |
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No. of Employees : |
3 |
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Bankers : |
Citi Bank, Punjabi Bagh, New Delhi – 110 018, India |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Friends
Engineering Corporation E-mail: friendsengg@friendsenggcorp.com Websites: Friends
Woodworking Machinery Email: Websites: Activity: Manufacturer and Suppliers of Corrugated Box Plants, Printing and
Binding Machinery Alliance
Engineers E-Mail: Websites: Activity: Manufacturers and Exporters of printing and packaging Machinery Office: J -126 B, Vishnu Garden, New Delhi – 110 018, India Tel No; 91-11-25984953 Fax No: 91-11-25921041 Mobile No.: 91-9810626661 Factory: 388P, Focal point Amritsar – 143 001, Punjab, India Tel No.: 91-183-3297911 Fax No.: 91-183-2701931 Mobile No.: 91-9872979525 Group Sales
Turnover : Rs. 40.000 millions Employees: 110 |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 0.500 million |
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Borrowed : |
---- |
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Total : |
Rs. 0.500 million |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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4.200 |
4.000 |
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Profit/Loss for the year |
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11% |
11% |
Expected Sales (2008-09): Rs. 10.000 millions
LOCAL AGENCY
FURTHER INFORMATION
OTHER
INFORMATION:-
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PARAMETER |
DETAIL |
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Existence
Verification |
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Name |
FRIENDS ENGINEERING OVERSEAS EXPORTS |
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Address |
J -126-B, Vishnu Garden, New Delhi – 110 018, India |
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Phone Numbers : |
91-11-25984953 |
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Fax numbers |
91-11- 25921041 |
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Statutory
Approval |
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Legal Status of firm |
Proprietory Company |
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Income Tax Registration |
AAWPM7429F |
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VAT / TIN Registration |
*57/07470256924/1102 |
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Import Export Code |
*0552051396 |
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Name of Bank |
Citi Bank, Punjabi Bagh, New Delhi– 110 018, India |
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Account Since |
2002 |
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Credibility
Factors |
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Years of Establishment |
2002 |
WEBSITE DETAILS:
Subject is a manufacturer, exporters and suppliers of
Paper Bag Making Machine, Die Cutting Machine, Corrugated Box Plant Machinery,
Exercise Note Book, Printing, Binding, Paper Converting and Pre Press Machines
,since 1960 has emerged as the largest manufacturer of Die Cutting Machine in
INDIA only on the basis of highest standard of Quality along with most
affordable Price. Products includes Die Cutting Machine, Corrugation Machines,
Reel to Sheet Cutters, Eccentric Slotters, Four Bar Rotary Cutting and Creasing
Machines, Sheet Pasting Machines, Sheet Pressing Machines, Board Cutters, Box
Stitching Machines, Paper Cutting Machine , Book Stitching Machines, Sheet
Lamination Machines, Thread Book Sewing Machines, Automatic Disc Ruling
Machine, Envelope Punching Machines, Carton Folding and Pasting Machine, Paper
Folding Machine, Toilet Roll Making Machines, Paper Napkin Machines, Offset
Printing Machinery, Roto Gravure Printing Machine, Flexographic Printing
Machinery, Perfect Binder and other related machinery.
Products:
Corrugated Box Plant Machinery
Subject manufacture all the machinery for making
corrugated , cardboard cartons from 2 Ply to 5 Ply
They are the manufacturer of Flat and Satchel type
of Paper Bag Making Machines with 2,3,4 Colour Flexographic printing.
Exercise Note Book Making
Machinery
They provide all the machinery for making Exercise
Note Books.
Complete range of Binding Machinery from Perfect
Binding Machines, Wire Book Stitching Machine, Thread Book Sewing Machine,
Lamination Machine and a lot more
Includes Paper Napkin Machines, Toilet Roll Making
Machine , Paper Bag making Machines
From Flexographic Printing Machine, Rotogravure
Printing Machine, Offset Printing Machine to Web Offset Printing Machine
They deals in all type of Pre Press Machines
· Carton Folding and Gluing Machine
· Flexo Printer for Paper and Board
Exports
Making Presence in
the Global Market
Friends Engineering Corporation expands its market beyond the boundaries
and the concern machines have made their presence felt in many countries.
The concern continues to enhance its credibility in the International market
through innovation, wide range of machines, export oriented approach and
thoroughly professional management.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.63 |
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UK Pound |
1 |
Rs.83.40 |
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Euro |
1 |
Rs.65.80 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
YES |
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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 |
YES |
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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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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
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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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