MIRA
INFORM REPORT
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Report Date : |
05.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
CRYSTAL ENGINEERING SYSTEMS |
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Registered Office : |
#1186/2A and 2B, Opposite to FIEM Industries Kelamangalam Road, Achettipalli
(P.O.), HCF (Via), Hosur 635110, Tamilnadu. |
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Country : |
India. |
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Financials (as on) : |
31.03.2008 (Estimated) |
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Year of Establishment : |
May, 2000 |
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Legal Form : |
Partnership Concern With an Unlimited Liability of the Partner |
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Line of Business : |
Manufacturer and Supplier of Carbon Steel and Stainless Steel Pressure
Vessels, Storage Tanks Proccess Equipments. |
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 25000 |
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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 a well established concern having satisfactory track. 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 PARTED
BY
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Name : |
Mr. A Ravindran |
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Designation : |
Partner |
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Contact No.: |
91-9443358772 |
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Date : |
03.11.2008 |
LOCATIONS
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Registered Office/Factory : |
#1186/2A and 2B, Opposite to FIEM Industries Kelamangalam Road, Achettipalli (P.O.), HCF (Via), Hosur 635110, Tamilnadu, India. |
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Tel. No.: |
91-4344-656053 / 647243 / 292111 |
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Mobile No.: |
91-9443358772 / 91-9443358771 |
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Fax No.: |
91-4344-277115 |
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E-Mail : |
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Website : |
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Area : |
4 Acres |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Hali Josen |
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Designation : |
Partner |
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Mobile No : |
91-9443358770 / 99449 58770 |
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Date of Birth/Age : |
44 Years |
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Qualification : |
Engineer |
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Name : |
Mr. A JayaChandran |
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Designation : |
Partner |
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Mobile No : |
91- 94433 58771 / 91- 99449 58771 |
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Date of Birth/Age : |
35 Years |
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Qualification : |
B Tech |
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Name : |
Mr. A Ravindran |
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Designation : |
Partner |
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Mobile No : |
91-94433 58772 /
91-99449 58772 |
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Date of Birth/Age : |
52 Years |
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Qualification : |
Graduate |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Supplier of Carbon Steel and Stainless Steel Pressure
Vessels, Storage Tanks Proccess Equipments. |
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Products : |
·
Moulded components ·
pressure vessels ·
storage tanks ·
process equipments ·
chimneys ·
ducts and fume extraction
systems. ·
silos ·
Industrial ovens ·
furnaces ·
ducts ·
piping ·
Heavy equipments and
structural. |
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Exports : |
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Products : |
Industrial Silences. |
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Countries : |
US |
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Terms : |
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Selling : |
Credit, Advance TT. |
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Purchasing : |
Cash and Credit |
GENERAL
INFORMATION
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Customers : |
Industries. ·
Water Treatment Industries. ·
Chemical Industries. ·
Pharmaceutical Industries. ·
Biotechnology Industries. ·
Process Industries. ·
Granite Industries. ·
Automobile Industries. ·
Manufacturing Industries. |
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No. of Employees : |
110 |
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Bankers : |
Syndicate Bank, Hosur 635110, Tamil Nadu, India |
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Facilities : |
Cash Credit and Overdraft Rs. 10.000 Millions |
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Banking Relations
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Satisfactory |
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Auditors : |
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Name : |
C Vadivel and Company, Chartered Accountants. |
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Address : |
Krishnagiri, Tamilnadu |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.5.000 Millions (Estimated) |
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Borrowed : |
-- |
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Total : |
Rs.5.000 Millions (Estimated) |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 (Estimated) |
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Sales Turnover |
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45.000 |
Expected Sales (2008-09) : Rs.60.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
·
Exide Industries Limited
·
Trium Industries Limited.
·
Ion Exchange Industries Limited.
Website Details Attached:
Concern Profile:
Subject is an ISO 9001:2000 certified concern, for manufacturing carbon
steel and stainless steel pressure vessels, storage tanks, process equipments
and fabricated products for industrial applications. Their products are
manufactured and tested in accordance with various international standards
under strict supervision of highly qualified and experienced technical team of
personnel to meet the quality consciousness of various final end users and
specification / standard requirements. They are well recognized for the quality
of their products and timely execution of orders to the entire satisfaction of
customers.
Subject is a multimillion business house established in May2000 for
manufacturing carbon steel and stainless steel pressure vessels, storage tanks,
process equipments . The unit is located in Hosur, Krishnagiri District of
TamilNadu state in India. The concern is Just 40 Kms away from Bangalore city.
The unit is headed by a team of technocrats with considerable experience in the
line of activity. Products are manufactured and supplied to many well reputed
companies in India and abroad
Infrastructure:
The concern is located in a prime locality of the industrial town,
Hosur. The unit is well equipped with all type of machineries, welding
equipments and handling systems such as EOT Cranes to handle heavy equipments.
Total built area is 14000 Sq.ft and 1,74,000 Sq.ft of open area is also
available. The factory is presently connected with 175 HP power. Captive power
of 125KVA is also available to ensure uninterrupted manufacturing during break
in power supply. The concern has competent and well qualified engineers and
staff and dedicated workmen who work as a team to produce quality products in
time to ensure customer satisfaction. Concern has obtained approvals and no
objection certificates from all statutory bodies and registered with SSI, NSIC,
Sales Tax, and Central Excise and JDGFT for export.
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.48.62 |
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UK Pound |
1 |
Rs.76.71 |
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Euro |
1 |
Rs.61.30 |
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 |
YES |
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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 |
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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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