MIRA
INFORM REPORT
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Report Date : |
27.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
ROYAL PRECISION FILTRATION SYSTEMS |
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Registered Office : |
G-148/1, Darshak Mill Road, Cotton Pet, Bangalore, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1990 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers of filter press (Auto shaker type), modular system. Side
bar and overhead beam, auto plate shifter, hydraulic filter presses blastomer
membrance diaphragm, filter plates and filter elements for use in various
industries such as ceramic, metallurgu, biological and pharma industries. |
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 20000 |
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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. The concern can be considered good for normal business dealings. |
LOCATIONS
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Registered Office : |
G-148/1, Darshak Mill Road, Cotton Pet, Bangalore, Karnataka, India |
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Tel. No.: |
91-80-26704069 |
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Mobile No.: |
91-9845739969 |
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Fax No.: |
91-80-26704089 |
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E-Mail : |
precisionfilters@rediffmail.com |
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Factory: |
No. 29, Byraveshwara Industrial Estate, Andrahalli Main Road, Peenya
Second Stage, Bangalore - 560091 |
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Area: |
10000 sq fts. |
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Location: |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. M. N. Ashok |
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Designation : |
Proprietor |
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Date of Birth/Age : |
45 years |
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Qualification : |
Graduate |
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Experience : |
15 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of filter press (Auto shaker type), modular system. Side
bar and overhead beam, auto plate shifter, hydraulic filter presses blastomer
membrance diaphragm, filter plates and filter elements for use in various
industries such as ceramic, metallurgu, biological and pharma industries. |
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Exports : |
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Countries : |
Germany, Singapore, Sri lanka and Middle East etc. |
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Terms : |
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Selling : |
Cash / Credit (30-45 days) |
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Purchasing : |
Cash / Credit (30 days) |
GENERAL
INFORMATION
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Suppliers : |
v Manikanta steels v Universal
Hydraulics v Guhani Hardware
Stores |
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Customers : |
v Amazon
Envirotech Limited v Duwac Systems
and Projects v G.E.T. Water
Solutions |
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No. of Employees : |
6 |
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Bankers : |
State Bank of Mysore, Cottonpet, Bangalore-53 |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Somnath (Chartered Accountant) |
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Address : |
Bangalore |
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Memberships : |
Peenya Industries Association |
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Associates/Subsidiaries : |
Darshak Cable Network |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 5.000 Millions |
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Borrowed : |
0.000 |
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Total : |
Rs. 5.000 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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6.500 |
5.500 |
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Profit/Loss for the year |
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15% |
15% |
Average value of inventories at any given time Rs. 1.500 Millions
LOCAL AGENCY FURTHER
INFORMATION
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Parameters |
Detail |
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Existence
Verification |
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Name |
Royal Precision |
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Address |
G-148/1, Darshak Mill Road, Bangalore -15 |
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2nd Address |
Nil |
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Phone / Mobile Numbers |
26704069 / 9845739969 |
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Fax Numbers |
26704089 |
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Electricity bill |
LG22528 |
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Statutory
Approvals |
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Legal status of firm |
Proprietory |
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VAT/ TIN Registration |
29690721264 |
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Name of Bank |
State Bank of Mysore |
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Current Account Number |
64012146101 |
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Account Since |
3 years |
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Emp PF Registration Number |
Nil |
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Company ESI Registration Number |
Nil |
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RBI Code Number |
Nil |
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Credibility
Factors |
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Indiamart Client Since |
2 years |
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Years of Establishment |
1990 |
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Trade
Affliations |
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Export Promotion Council |
Nil |
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Chambers of commerce membership |
Nil |
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D & B D-U-N-S Number |
Nil |
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Government Recognised Export House Status |
Nil |
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Other Affliations |
Peenya Industries Association. |
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Standards and
Certifications |
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Quality management systems |
Nil |
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Environment management systems |
Nil |
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Safety certificates |
Nil |
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Product certificates |
Nil |
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Other certificates |
Nil |
The factory is equipped with technically sophisticated machinery.
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
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Indian Rupees |
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US Dollar |
1 |
Rs.42.56 |
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UK Pound |
1 |
Rs.84.32 |
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Euro |
1 |
Rs.67.03 |
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 |
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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