MIRA
INFORM REPORT
|
Report Date : |
03.05.2008 |
IDENTIFICATION
DETAILS
|
Name : |
AIRIER INDIA |
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Registered Office : |
No.89, Krishna Complex, Kodigehali, Sahakar Nagar, Bangalore – 560096,
Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
1998 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporters of Wind Powered Air Ventilators for use in
Numerous Industries and dwellings. |
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 32000 |
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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 having Satisfactory
track. Trade relations are fair. Business is active. Payments are reported as
usually Correct and as per Commitments. The Concern can be considered normal for business dealings at usual
trade terms and Conditions. |
LOCATIONS
|
Registered Office: |
No.89, Krishna Complex, Kodigehali, Sahakar Nagar, Bangalore – 560096,
Karnataka, India |
|
Tel. No.: |
91-80-23636753 |
|
Mobile No.: |
91-9448129045 |
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Fax No.: |
91-80-23636753 |
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E-Mail : |
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Website : |
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Factory : |
Located at v Bangalore |
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Area : |
1200 Sq.ft. |
|
Location : |
Owned |
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|
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Factory : |
Located at v New Delhi |
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Area : |
1000 Sq.ft. |
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Location : |
Rented |
PROPRIETOR
|
Name : |
Mr. B R P Bhat |
|
Designation : |
Proprietor |
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Date of Birth : |
43 Years |
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Qualification : |
B.Sc |
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Experience : |
20 Years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporters of Wind Powered Air Ventilators for use in
Numerous Industries and dwellings. |
|
|
|
|
Products : |
v Wind Driven Ventilators v Ridge
Ventilators v Evaporative
Cooling Systems v Turbine air
Ventilators v Solar Parabolic
Cookers v Air Ventilators v Vertical Roof
Ventilators v Humidification
Equipments v Ventilation
Equipments v Wind Turbine
Ventilator v Roof Wind
Ventilators v Air Vent Turbine v Air Exhaust v Wind Ventilator v Heat Exhaust v Heat Ventilator v Industrial
Ventilation v Industrial
Exhaust v Industrial
Coolers v Coolers v Fume Extractor v Fume and Smoke
turbo vent v Roof Exhaust v Airier wind
turbine ventilator v Solar Water
Heaters |
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Exports : |
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Countries : |
Italy |
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Terms : |
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Selling : |
30 to 40 days |
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|
|
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Purchasing : |
About 30 days |
GENERAL
INFORMATION
|
Suppliers : |
v Hindalco, Mumbai v Great Steels and
Metals v Maruthi Metals |
|
|
|
|
Customers : |
v Tata Motors
Limited v TVS Lucas
Limited v Bharat
Electronics Limited v Hindustan
Aeronautics Limited |
|
|
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No. of Employees : |
110 |
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Bankers : |
v ICICI Bank, R T
Nagar, Bangalore v Karnataka Bank Limited,
Sahakar Nagar, Bangalore – 560092, Karnataka, 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 : |
Not Available |
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Group Companies
: |
v Jyoti Solar
Equipment Private Limited v Airier Organic
Farm |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 8.000 millions |
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Borrowed : |
-- |
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Total : |
Rs. 8.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
31.03.2008 |
31.03.2007 |
|
Sales Turnover |
42.500 |
27.000 |
|
|
|
|
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Profit/Loss for the year |
10 to 15% |
10 to 15% |
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|
|
|
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Export Value |
5 to 10% |
5 – 10% |
Average Value of Inventories at any given time: Rs. 2.500 millions
LOCAL AGENCY
FURTHER INFORMATION
Table
|
Parameters |
Detail |
|
Existence Verification |
|
|
Name |
Airier India |
|
Address |
No.89, Krishna Complex, Kodigehali, Sahakar Nagar, Bangalore – 560092,
Karnataka, India |
|
Phone / Mobile Numbers |
91-80-23636753, 23637353 |
|
Fax Numbers |
91-80-23636753 |
|
Electricity Bill |
C 4
LG 53059 |
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Statutory Approvals |
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Legal Status of Firm |
Proprietory |
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Income Tax Registration |
ASL PP 4373 D |
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VAT / TIN Registration |
29570373876 (VAT) |
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Name of Bank |
ICICI Bank |
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Current Account Number |
020405000107 |
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Account Since |
2005 / 2006 |
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Company ESI Reg. Number |
S38013/3/88/SSI |
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|
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Credibility Factors |
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India Mart Client Since |
No Specific Info |
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Years of Establishment |
1998 |
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Trade Affiliations |
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SSI Registration |
SSI / PMT/ 0801AB06705 |
|
Export Promotion Council |
Member |
|
Other Affiliations |
KASSIA, India Mart |
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|
|
|
Standards and Certifications |
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|
Quality Management Systems |
ISO : 9001 : 2000 |
Profile
Established in the year 1998, they have made a mark as eminent manufacturers and exporters of wind powered air ventilators that are used in many industries and dwellings. They are also OEM of a variety of industrial equipments and accessories. They have come a long way in a short span of time and are have a sales volume close to Rs. 30.000 millions which is likely to increase manifold in coming years.
They have a team of experienced professionals and experts, who enable in
catering to the ventilation challenges of many industries and store houses.
With their expertise in handling the sophisticated infrastructure, they have
gained an important place in the international market.
They are a trusted name and are approached for high quality products. They take
pride in having a long list of clients who are the shining names of the global
industry. They appreciate the dedication and they, in turn make sure that they
are delivered nothing but the best.
They are the only manufacturers of Turbine Air Ventilators
in India. They launched world's most sought out product for Industrial
Exhaustion, 'Turbine Air Ventilators'. Since the inception, they are relentlessly catering to the
varied requirements of the customers, which have further established us as the
unmatched manufacturer of Turbine Air
Ventilators. Equipped with state of the art manufacturing unit
and equipments they have indigenously developed and manufactured Turbine Air Ventilators under stringent
quality checks at every stage of production to give the customers world class products.
Background
They formed Airier India 6 years back with team of experts and
enthusiastic work force in Bangalore, the technology city of India. They look
back at the completion of 5 years of operation successfully with customer's
satisfaction, having made the presence felt in Karnataka, Maharashtra, Chennai.
This registered a customer base of more than 2500 satisfied customers. They
have certain norms and targets set by committed and enthusiastic staff.
Workforce
Industry experts swear by the Turbine Air
Ventilators; needless to say they are proud to have a total
dedicated team in terms of research, design, development, production and
installation of professionals, to give the maximum of the product, both at
accuracy level and perfect performances. The after sales service team further
guarantees a total customer satisfaction for life. As the World is moving
towards wind powered energy, which is clean, efficient and free, they provide
technology to convert this energy into money.
The Range of Products
Under the product name Airer Vent the range of Turbine Air Ventilators care for the Money,
Energy, Worker's productivity, future environment and even nation's interest.
The Excellence
Efficiency
It is totally non-conventional method of ventilation system. Its method of operation is totally different from the conventional method of ventilators such as motorized exhaust fans and passive ventilation systems like jack-roofs and ridge ventilators. This system does not require Energy like Electricity, Generator, U.P.S. or any other battery back up. Its revolutionary design encompasses duo and having withstanding capacity up to the wind speed 120/hr. It is completely leak proof, noise proof and environment friendly.
Technology:
The Turbine Ventilation System is based on the revolutionary "free-floating" concept developed unique by "Airier Group". lt is in-built with a heat and friction resistant Teflon cap, which provides a "near friction-free" motion. The air movement lifts and separate the Turbine from contact with central shaft, resulting in higher exhaust capacity. The ventilation system vanes are fabricated with special grade aluminum to a anodized specification of JIS special grade 4000A-1050 p, H24; making it stress resistant. It also encompasses the concept of the duo fan, which increase the exhaust capacity.
Effective Operation:
Harnessing wind-powered energy the system removes, heat,
humidity, fumes, odorous, dust, smoke and many more invisible irritants from
the covered area. The wind turbine ventilator provides a safe, cool, healthier
and more controlled work environment by removing the entrapped heat and
Industrial emission ensuring the health of workers, thus contributing to an
increase in workers productivity. Its main applications are Industries, godowns,
ware houses, auditoriums, hospitals and even for domestic Purpose. They care
quality product, proper analyze and installation process to ensure 100%
effective performance.
Products
They offer a wide range of exhaustion equipments that are demanded by various industries. All the products make use of the “free floating” concept developed by the team of experts. The collection has Roof Exhaust, Airier Wind Turbine Ventilator, Wind Turbine Ventilator and Wind Driven turbine. All the products are made from sturdy steel that is procured from the vendors after conducting a string of tests. Making use of cutting edge technology, they manufacture products that have the following features:
v High wind speed
v Leak proof
v Noise free operation
v Environment friendly
v Heat resistant
v Friction resistant
v Stress resistant
v High exhaust capacity
v Constructed with special grade aluminum
v Easy installation
v Excellent efficiency
v Induces ventilation even in absence of breeze
v Withstands high wind velocities
v Exhausts stale, hot, humid air & fumes/ pollutants
Application Area
They offer products
that are made of sturdy special grade aluminum that makes them durable. The
special air ventilators are demanded in almost all the industries. How ever some
of the other areas of application are stated below:
v
Mines
v
Warehouses
v
Houses
v
Hospitals
v
Auditoriums
Infrastructure
The foundation of
the success is laid on the up graded infrastructure, which they take pride in.
they have a highly productive manufacturing plant that is spread in a vast area
and is outfitted with the most productive and advanced machines and instruments
that help us in meeting the bulk requirements of the clients on time. Some of
the machines that they have are listed below:
v
Extruder
machine
v
Welding
machines
v
Punching and
Cutting machine
v
Drillers
v
Gravity casting
machines
v
Heat treatment
unit
v
Aluminum
Corrugating machine
These machines are used by the work force to manufacture ventilators that are
apt for diverse usage in industries as well as homes.
Quality Assurance
They are a quality
oriented company that believes in delivering total satisfaction. They have
appointed a team of quality checkers who are responsible for maintaining world
class quality in all the products. They check the aluminum at the time of
procurement and test it on physical and chemical aspects. Once the production
starts, they monitor all the stages and processes involved so that only
impeccable products are moved out. Some of the parameters that the products are
checked for are listed below:
v
Resultant Wind
speed
v
Leak forming
tendency
v
Exhaust
capacity
v
Noise
production
v
Tendency for
Friction
v
Construction
accuracy
v
Capacity to
withstand Heat and stress
Clients
They are privileged to
have a long list of clients that includes many eminent names from diverse
industries of domestic as well as international market. They have clients
coming to us from different states such as Karnataka, Maharashtra, Andhra
Pradesh, West Bengal and Tamil Nadu to name a few. They have gratified them
with the products and efficient services and have won their trust. Some of the
prominent clients that indulge in repeated business with them.
Karnataka
v
L T Karle
International.
v
Bharat
Electronics Limited.
v
Khoday’s
Brewaries.
v
Lloyd
Insulations India Limited
v
H. A. L.
v
Manasa
Foundation.
v
Manju Shree
Extrusions Limited.
v
Ever blue
Apparel Limited.
v
Bajaj Pack line.
v
Asian Cylinders.
v
Kenna Metal
Widia.
v
Gokuldas Images.
v
Indian Commerce
and Industries Company Limited.
v
Texport
Overseas.
v
J. F. Fab
Industries. Mysore.
v
Mycan Limited.
v
J P
Distilleries.
v
Amco Limited.
v
Jyothi Solar Eq.
Private Limited
v
Society For
Dev.Of Composites (Gov Of India)
v
Hotel Mayura.
v
Microtek.
v
Steer Engg
Private Limited
v
Indian Air
Force.
v
Sharadamba Temple
Sringeri.
v
Centre For
Developmental Education.
v
K R M
International Limited
v
Divya Jyothi
Plast.Omex India.Sobha Developers.
v
Kemson
v
Sun Sera
v
Sai Krupa
Insulations Private Limited
v
Hitech Forging
Bangalore.
v
V.P. Roof
Industries.
v
Deepika
Rotomoulders Private Limited.
v
Strides Arcolab
Limited.
v
Phoenix Forge
Private Limited
v
Bangalore
Clothing House.
v
Autocrat
Engineers.
v
Paras Wires
Private Limited
v
Buildmet Fibers
Private Limited
v
Zenith Tools
& Components Private Limited
v
True Pack
Private Limited.
v
Synpack Zipper
Bags Private Limited.
v
Apw President
Systems Limited.
v
Machine
Components Mfs.
v
Synthetic
Packers Private Limited
v
The Arvind Mills
Limited
v
Big Bags
International Private Limited
v
Hi-Tech
Pneumatics & Heat Treaters Private Limited
v
Press Comp International
Private Limited
v
Volvo India
Private Limited.
v
V.M. Tradings.
v
Samrat Gems
Impex Private Limited.
v
Accuspirals.
v
Automotive
Axles. Mysore
v
Corborundem
Universal.
v
Bangalore
Metallurgical. Private Limited
v
Karnataka Snuff
& Beedi Works. Mangalore.
v
Jaico Automobile
Engg. Company Private Limited
v
Metaplast
Engineering Works. Mangalore.
v
Alfa Enterprises
Private Limited.
Maharashtra
v
Dohler India
Private Limited. Pune.
v
Global
Development Corpn Pune.
v
Polybond India
Private Limited. Pune.
v
Suyash Auto
Press Components. Baramati.
v
TVs Logistics.
Pune.
v
Trinity
Enginnering. Pune.
v
Indo Afrique
Paper Mills. Pune.
v
Apw President
Systems Ltd. Pune.
v
Peninsula
Constructions. Pune.
Andhra Pradesh
v
Raj Classic
Foods Limited. Hyderabad.
v
Spp Poly Pack Private
Limited. Hyderabad.
v
Rayalseema
Technologies Limited. Hindupur.
v
Arvind Cans
Limited. Hyderabad.
v
Pushti Food
Products. Hyderabad.
Tamil Nadu
v
Rani Printers.
Chennai.
v
Best Safety
Private Limited. Chennai.
v
I.T.C. Limited.
Coimbatore
v
Rangasayee Alloy
Casting. Coimbatore.
v
Induction
Systems. Coimbatore.
v
Best Heat
Treatment Private Limited. Coimbatore.
v
Kaygee Induction
Systems. Coimbatore.
v
Super – Tech
Castings Private Limited. Coimbatore
v
Sanmar
Foundries. Trichi.
v
Ishwarya
Textiles. Udmalpet.
v
Kumaran Mills.
Coimbatore
v
Jhonson Lifts.
Delhi
v
Amtek Auto
Limited.
v
Toyo Springs
Limited.
Kolkata
v
Favorich Mark
Private Limited.
The Channel Partners
v
Indian Commerce
And Industries Company Limited.
v
Lloyd
Insulations India Limited.
v
Fabtech.
Kirby. Bangalore.
v
Roots.
V.P.Roof.
Japan Metals.
v
Kemson.
Jindal Metecno. Delhi.
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 :
The 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.
The 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. 40.65 |
|
UK Pound |
1 |
Rs. 80.35 |
|
Euro |
1 |
Rs. 62.78 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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 |
|
|
>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, they have no basis upon which to
recommend credit dealings |
No Rating |
|