MIRA
INFORM REPORT
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Report Date : |
17.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
VICTORY SENSORS |
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Registered Office : |
# 836, 4TH Main Muthyalamma Nagar, MES Ring Road, Jalahalli,
Bangalore-560054, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
2002 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers of Heating Equipments for Applications in Steel Plants,
chemical Factories, Pharmaceuticals Companies 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/normal. |
Small |
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Maximum Credit Limit : |
USD 800 |
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Status : |
Small company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern having satisfactory track.
Proprietor is reported as experienced and respectable businessmen. Trade relations
are reported as fair. business is active. Payments are however reported as
usually correct and as per commitments. The concern can be considered fro small business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. G. K. Prakash |
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Designation : |
Proprietor |
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Date : |
14.06.2008 |
LOCATIONS
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Registered Office : |
# 836, 4TH Main Muthyalamma Nagar, MES Ring Road,
Jalahalli, Bangalore-560054, Karnataka, India |
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Tel. No.: |
91-80-65685231 |
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Mobile No.: |
91-9844099679 (Mr. Prakash) |
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Fax No.: |
91-80-23452365 |
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E-Mail : |
victorysensors@trade_india.com victorysensors@yahoo.com |
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Area : |
2500 Sq.ft. |
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Location: |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. G K Prakash |
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Designation : |
Proprietor |
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Date of Birth/Age : |
33 years |
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Qualification : |
Matric |
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Experience : |
11 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Heating Equipments for Applications in Steel Plants,
chemical Factories, Pharmaceuticals Companies etc. |
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Products : |
Precision Measuring and Temperature Control Equipments including- v Thermocouples v Mineral Insulated Thermocouples v RTD Sensors v Compensating Cables v Heaters v Furnaces v Ovens v Temperature Controllers v Temperature Indicators v Control Panels v Processing Heating Equipments v Measuring Instruments and Controllers v Laboratory Equipments used in Q.C., R & D, etc. |
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Terms : |
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Selling : |
Local Sale : 45 days |
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Purchasing : |
Local Purchase : 90 days |
GENERAL
INFORMATION
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Suppliers : |
v B R Electricals,
Mumbai v Surya
International, Delhi v Dave Traders |
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Customers : |
v Spear
Engineering, Bangalore v Halvin
Industries Private Limited, Bangalore |
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No. of Employees : |
6 |
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Bankers : |
Karnataka Bank, Yashwantpur, Bangalore-22, India |
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Facilities : |
Operating on own funds. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Ganesh and Company (Chartered Accountants) |
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Address : |
Bangalore |
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Associates/Subsidiaries : |
Heat Process Industries, Bangalore |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.0.200 million |
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Borrowed : |
-- |
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Total : |
Rs.0.200 million |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
5.000 |
2.600 |
1.300 |
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Profit/Loss for the year |
Not Available |
12% |
12% |
Average value of inventories at any given time : Rs.0.200 Million.
LOCAL AGENCY
FURTHER INFORMATION
Website Details :
The unparalleled combination of quality and highly competitive price is the reason behind their peerless success in the industry. They, at Victory Sensors, research and innovate for you a range of high quality Equipments for Precision Measuring and Temperature Control including Thermocouples, Sensors, Temperature Controllers, Ovens, Furnaces, Heaters, Control Panels, Processing Heating Equipments, Measuring Instruments and Controllers, Laboratory Equipments used in Q.C., R & D, etc. They are a reputed manufacturer, supplier and trader of all these products, dedicated in providing a supreme quality range to their clients at affordable prices. Their technical expertise and rich experience in the field endow them with the ability to maintain consistent internationally acclaimed quality.
Their success in the industry is the result of their
unfailing service to the customers and their trust upon them as the most
reliable brand in the industry. At present, their market is spread all over the
country and their products are enjoying huge acclaim amongst their highly
esteemed customers. They possess a long tradition of leadership and innovation
in their field while enjoying an outstanding reputable position in the
industry. Some of their major clients include Steel Engineering, Digital
Instruments, Process Care, TAP, IISC, and other such noted ones.
Their Product Range
They are engaged in the industry as a prominent manufacturer, supplier and
trader of a range of highly reliable Precision Measuring and Temperature
Control Equipments including-
Thermocouples
Mineral Insulated
Thermocouples
RTD Sensors
Compensating Cables
Heaters
Furnaces
Ovens
Temperature
Controllers
Temperature
Indicators
Control Panels
Processing Heating
Equipments
Measuring
Instruments and Controllers
Laboratory
Equipments used in Q.C., R & D, etc.
They also specialize in manufacturing customized products as
per clients' requirements.
Their Quality
For them, a quality product is the one that completely meets customers' requirements.
They are highly concerned about providing their customers the best possible
quality at the most affordable price. Their follow of consistent quality
control, right from the initial beginning of the company has earned the trust
of their respected clients spread all over the country. Beginning from the
procurement of raw materials to the final dispatch of finished products, all
the products undergo a strict quality checking procedure at their in-house
quality checking unit.
Their Infrastructure
They have steadily progressed over a strong infrastructural base which
enables them to be stable and grow higher to reach the peak of success. Their
captive factory is well equipped with a range of sophisticated machinery and
empowers them for in-built manufacture of the products. In addition, they are
also endowed with the innovative talents of a highly qualified team of experts
who lead them to be steps ahead of their competitors by bringing such a range
into existence that is well acclaimed in the industry.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.90 |
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UK Pound |
1 |
Rs.83.76 |
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Euro |
1 |
Rs.65.99 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
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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30 |
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/normal. |
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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