MIRA INFORM REPORT

 

 

 

 

Report Date :

06.11.2008

 

IDENTIFICATION DETAILS

 

Name :

KAMAL ENGINEERING WORKS

 

 

Registered Office :

17, Satnam Industrial Estate, Nagarvvel Hanuman Road, Amraiwadi, Ahmedabad – 380026, Gujarat

 

 

Country :

India

 

 

Financials (as on) :

31.03.2007

 

 

Date of Incorporation :

1977

 

 

Legal Form :

Sole Proprietory Concern.

 

 

Line of Business :

Manufacturer of Rotary Disc Perforating Machine.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Unfavtheir able & favtheir able factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.

Small

 

 

 

 

 

Maximum Credit Limit :

USD 480

 

 

Status :

Satisfactory 

 

 

Payment Behavitheir  :

Usually Correct

 

 

Litigation :

Clear

 

 

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

 

Name :

Mr. N. D. Patel

Designation :

Proprietor

Contact No.:

91-9426177389

Date :

01.11.2008

 

 

LOCATIONS

 

Registered Office/ Factory  :

17, Satnam Industrial Estate, Nagarvvel Hanuman Road, Amraiwadi, Ahmedabad – 380026, Gujarat, India

Tel. No.:

91-79-22746092

Mobile No.:

91-9426177389

Fax No.:

91-79-22746092

E Mail :

Kamalenggworks.@yahoo.com

Website:

http://www.kamalengineering.com

 

SOLE PROPRIETOR

 

Name :

Mr. N. D. Patel

Designation :

Proprietor

Date of Birth/Age :

69 Years

Qualification :

S.S.C

 

 

KEY EXECUTIVES

 

Name :

Mr. Pragnesh Prajapati

Designation :

Accountant

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Rotary Disc Perforating Machine.

 

 

Products:

Disc Performers

·         Cabinet Model

·         Commercial Model

·         Baby Model

 

Punching Devices

·         Com/ Spiral/ Wire ‘O’ Punching Device

·         Wire’O’ Closing device

·         Index Cutting

·         Round Corner Cutting and T- Shape Punching

·         Comb Inserting Machine

·         Calander Remming Machiner

·         Sticker sittings (Half Cutting) with Micro Perforating Attechment

·         Hydraulic Book Pressing Machine

·         Speed Ruling and Sheter Machine

·         Paper Cutting

·         Paper Shredder

 

 

Exports :

 

Products :

Rotary Disc Perforating machines

Countries :

·         Arabian and African Countries

·         South Africa

·         Gulf Countries

·         Canada

·         Bangladesh

 

 

Terms :

 

Selling :

Credit (Advanced Payment ), T/T

 

 

Purchasing :

Cash, Credit (30-60-90 Days)

 

 

GENERAL INFORMATION

 

Customers :

Manufacturer and Traders.

 

 

No. of Employees :

9 ( Office 3, Factory 6)

 

 

Bankers :
  • HDFC Bank, Bodak Dev, Maninagar, Ahmedabad
  • ICICI Bank
  • Nutan Nagarik Sahakari Bank

 

 

Facilities :

---

 

 

 

Banking Relations :

Unknown

 

 

Auditors :

 

Name :

Patel and Associates

Chartered Accountant

Address :

Ahmedabad

 

 

CAPITAL STRUCTURE

 

 

Capital Investment :

 

Owned :

Rs.1.000 million

Borrowed :

---

Total :

Rs.1.000 million

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

 

31.03.2008

31.03.2007

 

Sales Turnover

 

4.200

3.300

 

 

 

 

 

Expected Sales (2008-09) : Around Rs.5.500 millions

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

Trade Reference

 

AS PER WEBSITE

 

Profile:

 

Subject has completed 3 decades of existence! Subject is in service of printing and allied Industry has lived well for 29 years it has weathered all storms, met all challenges and tasks.

 

Right from day one to date subject has been moving on right Tracks. Because of this, today it is recognize by printing and allied Industries across Country. Measuring the performance over the last 29 years and judging its future plans 'KAMAL' can the rightly taken as successful Industry.

           

 

So the Existences for 29 years, is not success. Certain set goals were reached like 'KAMAL' Rotary disc Perforating, creasing and slitting machine in various models like CABINET-COMMERCIAL & BABY. Last few years have been fruitful in this respect at it is matter for satisfaction & joy.

 

So they can't call this success! If they have to consider this success it will mean they have the target and that is the end of it.

 

During last ten years the company has developed power punching Machine as well as punching tools like spiral plastic comb, wire 'O' comb and many others as required by the customers.

 

During last five years the company has developed 2 in 1 slot perforating machine with creasing attachment first time in India.

 

During last two years the company has developed one 2 in 1 half cutting (Sticker-Cutting machine) with micro perforating attachment.

 

About success SWAMI VIVEKANAND has said 'Take a one idea, Think of it, Dream of it. This is the way of success.'

 

 

Product Range

Key Features

Their long association in Rotary Disc Perforating Machine's manufacturing has established them as one of the most experienced entity of this field. Their  quality work has been recognized both in national and international markets.

 

Their strategy is to understand and meet both national and international requirements. They believe in doing reliable work and hence, they are the most trustworthy business unit in their  field.

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various stheir ces including but not limited to: The Ctheir ts, 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]         Ctheir t 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 :

Their  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.

 

Their  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.47.18

UK Pound

1

Rs.75.05

Euro

1

Rs.60.89

 

 

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

5

--PROFITABILIRY

1~10

5

--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

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

NO

--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 unfavtheir able 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

Unfavtheir able & favtheir able 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, we have no basis upon which to recommend credit dealings

No Rating

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions