MIRA
INFORM REPORT
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Report Date : |
05.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
TRIDENT ENGINEERS |
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Registered Office : |
S F No. 274, Villankurichi Road, (West Cut Road), Vilankurichi (PO), Coimbatore
– 641 035, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1998 |
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IEC No.: |
3298022365 |
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PAN No.: [Permanent
Account No.] |
AABFT8523A |
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Legal Form : |
Partnership concern with an unlimited liability of the partners. |
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Line of Business : |
Manufacturer and Exporter of Kitchen 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 10000 |
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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. Chandrashekar |
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Designation : |
Account Department |
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Date : |
31.10.2008 |
LOCATIONS
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Registered Office/Factory : |
S F No. 274, Villankurichi Road, (West Cut Road), Vilankurichi (PO),
Coimbatore – 641 035, Tamilnadu, India |
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Tel. No.: |
91-422-6455976 / 6455922 |
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Fax No.: |
91-422-2532024 |
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E-Mail : |
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Website : |
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Area : |
6500 Sq. ft. |
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Location : |
Rented |
PARTNERS
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Name : |
Mr. R Selvaraj |
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Designation : |
Partner |
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Date of Birth/Age : |
45 Years |
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Qualification : |
B.E. |
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Name : |
Mr. N Rajan Babu |
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Designation : |
Partner |
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Date of Birth/Age : |
38 Years |
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Qualification : |
Post Graduate |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Kitchen Equipments. |
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Products : |
·
Wet Grinders ·
Commercial Grinder ·
Rice Washer ·
Variety Batter Mixer ·
Coconut Scrapper ·
Potato Peeler and Vegetable Cutter ·
Chappathi Machine ·
Table Top Grinder |
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Exports : |
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Products : |
Kitchen Equipments |
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Countries : |
·
UK ·
US ·
Canada ·
Singapore ·
Malaysia ·
Thailand ·
Srilanka |
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Terms : |
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Selling : |
Swiff Transfers |
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Purchasing : |
Advance 100% |
GENERAL
INFORMATION
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Customers : |
Distributor |
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No. of Employees : |
26 (In Office 8 and In Factory 18) |
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Bankers : |
Tamilnad Mercantile Bank, Coimbatore |
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Facilities : |
CC Rs.3.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
S Velusomy and Company Chartered Accountants |
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Address : |
Coimbatore |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.2.000 millions (Estimated) |
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Borrowed : |
- |
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Total : |
Rs.2.000 millions (Estimated) |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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20.000 |
Expected Sales (2008-09) : Rs.35.000 millions
LOCAL AGENCY
FURTHER INFORMATION
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Additional Requirement
of Indiamart for Trust-Seal |
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Service Tax No. : -- |
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Excise Registration No.: AABFT8523A XM 002 |
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VAT / TIN : 33156201025 |
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IEC Code : 3298022365 |
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PAN / TAN : AABFT8523A |
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Bank Name : Tamilnad Mercantile Bank |
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Bank Address : Coimbatore |
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Bank A/c. No.: 121700150950117 |
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Account Since : 10 Years |
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In case of any affiliations / memberships / certifications : |
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Name : -- |
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Type : -- |
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Expiry Date : -- |
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Trade References
·
Taj Group of Hotels – Mumbai
·
Leela Hotels – Mumbai
Web Detaile
Profile
Incepted in the year 1995, Subject has established
itself as an eminent manufacturer, supplier and exporter of wide range of kitchen
equipment. The kitchen equipment are available in the market under the brand
name Rishab and Trident. In addition, they are the contract supplier of Rishab
brand SS tilting grinders to M/S Taj Group and ITC Welcome Group Hotels in
India for the past seven years.
They have set up good manufacturing unit which has enabled them to have
excellent production capacity. The quest for innovation and excellence has
enabled them to be one of the pioneers in the manufacturing of tilting
commercial wet grinder first time in India. Moreover, they have got patent and
design registration for the product as well. The design registration number is
176032 and the patent registration number is 204490. In addition, they have
also manufactured 100 litre tilting grinder, instant rice, masala grinder using
stone for the first time in India. The ability to use latest technology and
offer varied products is evident from the range of tilting type wet grinders
from 1 litre to 100 litre capacity.
They are going to set up branch offices at New Delhi, Mumbai, Pune, Vijay Wada,
Chennai and Bangalore from where they effectively conduct the business. The
wide network distribution further facilitates them in meeting the requirements
of clients within stipulated time frame.
Product Portfolio
They have established business tie ups with reliable vendors to procure
raw material of superior grade. The extensive network facilitates them in
sourcing raw material from markets of Coimbatore, Mumbai, Bangalore and
Chennai. They use premium grade S.S. rod, S.S. sheet, M.S rod, M.S sheet, cast
iron items, rectangular tubes, fiber glass items and other raw materials to
manufacture durable kitchen equipment.
The range of kitchen equipment broadly fall into different categories like tilting commercial wet grinder, conventional
type commercial grinder, rice washer, batter mixer, coconut scrapper, potato
peeler, vegetable cutter, chapatti pressing machine, dough kneader and table
top grinder.
Some of the important features of the finished kitchen equipment are:
·
Durable
·
Compact design
·
High performance
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Convenient to use
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Easy to maintain
·
Efficient
The core competence lies in meeting the varied requirements of
customers. The ability to offer tailor made products has enabled them to have a competitive
edge over the competitors.
Infrastructure
The sound infrastructure has requisite facilities which facilitate us in
manufacturing assortment of kitchen equipment as per clients requirements. The
have state-of-the-art manufacturing unit which is well spread over the
sprawling area of 12000 square feet and has the installed capacity of 15000
units. The production unit is segregated into different sections which
comprises of:
- Table top
grinding
- Fabrication
- Machine shop
- Product
assembly and administration
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.62 |
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UK Pound |
1 |
Rs.76.71 |
|
Euro |
1 |
Rs.61.30 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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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46 |
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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