MIRA
INFORM REPORT
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Report Date : |
05.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
KARNATAKA IRON WORKS |
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Registered Office : |
Balmatta Road,
Mangalore – 575002, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
1947 |
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Legal Form : |
Sole Proprietory
Concern |
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Line of Business : |
Manufacturers of
Fabricators and Machinery – Focussing on Fish Metal & Oil Plant
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 50000 |
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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
established concern. 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
DECLINED BY
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Name : |
Mr. John J Amanna |
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Designation : |
Proprietor |
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Date : |
03.06.2008 |
LOCATIONS
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Registered Office/ Factory : |
Balmatta Road,
Mangalore – 575002, Karnataka, India |
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Tel. No.: |
91-824-2212500 |
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Mobile No.: |
91-9448452500 |
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Fax No.: |
91-824-4252500 |
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E-Mail : |
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Area : |
1000 sq. ft.
[Factory - 6000 sq. ft.] |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. John J.
Amanna |
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Designation : |
Sole Proprietor |
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Date of Birth/Age : |
65 years |
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Qualification : |
Matric |
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Experience : |
40 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of
Fabricators and Machinery – Focussing on Fish Metal & Oil Plant
Machinery. |
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Product: |
· Fish Meal (Poultry, Cattle and Prawn feed), · Fish Oil for Soap, · Paint and ·
Leather Tanning Industries. |
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Exports to : |
African
Countries, U.A.E., Maldives, etc. |
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Terms : |
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Selling : |
Sight L/C against
Payment |
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Purchasing : |
Against Payment |
GENERAL
INFORMATION
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Suppliers : |
· M. M. Gears, Coimbatore - 641047, Tamil Nadu, India · Karnataka Engineering Enterprises, Bangalore- 560 002, Karnataka, India |
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Customers : |
· Island Enterprise, Maldives · Alamoudi Marine Products, Yemen · Eastern Provincial Livestock, South Africa |
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No. of Employees : |
15 |
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Bankers : |
Corporation Bank,
Pandeshwar Branch, Mangalore - 575001, Karnataka, India |
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Banking Relations : |
Satisfactory |
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Auditors : |
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Name: |
Chandramohan K.
Y. Y. & Company Chartered Accountants |
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Address: |
Mangalore - 575001,
Karnataka, India |
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Technical Collaborator : |
C.F.T.R.I.,
Mysore – 570004, Karnataka, India |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 10.000
millions |
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Borrowed : |
--- |
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Total : |
Rs. 10.000
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2007 [Estimated] |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
15.000 |
2.000 |
1.500 |
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Inventories |
3.000 |
N.A. |
N.A. |
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Export Value |
10.000 |
N.A. |
N.A. |
Profitability indicated around 15%
LOCAL AGENCY
FURTHER INFORMATION
WEBSITE DETAILS:-
Concern Profile:-
Fish Meal and Oil Plant
Machinery dominates Fish Meal and Fish Oil production industry. This is a
pioneer industry, which is working with dedication and commitment since its
establishment in 1947. Their concern wholly deals in Fish Meal (for Poultry,
Cattle and Prawn feed) and Fish Oil and exports them globally under the banner
of 'Karnataka Iron Works'.
Their concern owns
a well-planned and well-equipped automated manufacturing plant to provide
quality products to their customers without giving them any chance for complaint.
Fish Oil is widely
used for Soap, Paint and Leather Tanning Industries. Their technical know-how
is from C.F.T.R.I and N.R.D.C. They have successfully commissioned 19 plants in
the Domestic as well as International Market.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.63 |
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UK Pound |
1 |
Rs.83.40 |
|
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 |
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 |
|
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
|
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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