MIRA
INFORM REPORT
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Report Date : |
26.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
PYROTECH ENGINEERS AND MANUFACTURERS |
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Registered Office : |
1050,5th Street, Cross Cut Road, Gandhipuram, Coimbatore,
Tamilnadu. |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1999 |
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PAN No.: [Permanent
Account No.] |
AODPK9279C |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer electrically heated and oil fired furnaces for ferrous
and non ferrous melting units. |
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 4000 |
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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 meeting its normal
Commitments timeously. Trade relations are fair. The concern can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Ms. Gayatri |
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Date : |
26.05.2008 |
LOCATIONS
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Registered Office : |
1050,5th Street, Cross Cut Road, Gandhipuram, Coimbatore,
Tamilnadu, India |
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Tel. No.: |
91-422-4371639 |
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Mobile No.: |
91-9843572639 / 9363124639 |
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Fax No.: |
91-422-4371639 |
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E-Mail : |
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Website : |
SOLE PROPRIETOR
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Name : |
Mr. P. Karunakaran |
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Designation : |
Proprietor |
BUSINESS DETAILS
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Line of Business : |
Manufacturer electrically heated and oil fired furnaces for ferrous
and non ferrous melting units. |
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Products : |
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Exports : |
Trying to export to China and Israel |
GENERAL
INFORMATION
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Customer : |
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No. of Employees : |
20 |
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Bankers : |
ICICI Bank Ram Nagar Branch , Coimabtore.
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Banking
Relations : |
Satisfactory |
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 |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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10.000 |
8.500 |
LOCAL AGENCY
FURTHER INFORMATION
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Parameters |
Details |
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Statutory Approvals |
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Income Tax Registration (PAN) |
AODPK9279C |
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Central Sales Tax Registration |
344766 |
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TIN
Registration |
33752182373 |
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Name Of Bank |
ICICI Bank |
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Current Account No |
615205036400 |
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Account Since |
1 Years |
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Credibility Factors |
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India Mart Clint Since |
1 years |
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Years of Establishment |
2003 |
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Tread Affiliation |
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SSI
Registration |
No |
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Export Promotion Council |
No |
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Chambers of Commerce Membership |
No |
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Standards and Certification |
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Quality Management Systems |
No |
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Environment Management Systems |
No |
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Safety Certificates |
No |
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Products Certificates |
No |
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Other Certificates |
No |
Profile :
Established in 1999, by Mr. P.Karunakaran, “ Pyrotech Engineers”, are
one of the leading manes to manufacture electrically heated and oil fired
furnaces for ferrous and non ferrous melting units. Featured with high quality
product output, the manufactured furnaces are easy to install and require less
maintenance. Designed as per international quality standard, these furnaces are
widely used in captive heat-treaters , stamping and fastener companies,
automotive component producers, iron, steel industries and aluminum foundries.
They are also one of the few exceptions to convert diesel fired furnaces
into gas fired furnaces in consideration with the quality of the product and
cost effectiveness compared to diesel. Marching with the pace of time, form
in-house product development expertise, Software toos and modern machines, they
invest heavily in their infrastructural set-up.
At pyrotech Engineers, they strive everyday to provide their customer
quality products with world class services. Their adapt them are engineers and
technocrats constantly engaged in research activities to better understand the
market dynamics and customer requirements.
Acclaimed form their constant innovation and on time Project completion,
they have successfully installed their production in many industries all over
India. Moving with the pace of time, today they have set new benchmarks and are
one of the successful names who have redefined Indian oil Fired Furnaces
Industry.
Production Section
They have a fully integrated Manufacturing facility with in house
capability of coating, winding, metal working and surface finishing. Equipped
with world-class production machines the manufacturing unit is geared for quick
product fabrication capacity. It has substantial capacity to meet large orders.
Some of the most prominent machines
that have been installed at our production unit are:
- Lathe Machine
- Drilling
Machine
- Threading
Machine
- Grinding
Machine
Moreover they are one of the few names to offer customization of products
for specific end use.
Quality Assurance
They implement best project management that includes the high standards
of precision in fabrication, assembling, painting, finishing and all other
activities at manufacturing site. Having vast experience in this industry, they
develop their products by using the defect-free raw materials. Committed to
offer high quality products they follow international quality guidelines that
enable us to develop the product having following properties.
§
Efficiency to utilize maximum heat for various types of treatment.
§
Ability to reduce heat loss during heat treatment process.
§
Efficiency to recover waste heat at quick pace.
§
Potential to control Hyserisis band.
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.42.84 |
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UK Pound |
1 |
Rs.84.78 |
|
Euro |
1 |
Rs.67.32 |
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 |
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 |
NO |
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--LISTED |
YES/NO |
NP |
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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
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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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