MIRA
INFORM REPORT
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Report Date : |
17.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
QUALITY MACHINE PRODUCTS |
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Registered Office : |
Unit No.41, Jimmy Tower, Opposite Swaminarayan Gurukul, Gondal Road, Rajkot
– 360 004, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1967 |
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IEC No.: |
2400001791 |
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TIN No.: |
24090900029 |
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PAN No.: [Permanent
Account No.] |
ABAPC3645C |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Machine Tools. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 100000 |
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Status : |
Small concern |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a small concern. Trade relations are fair. Payments are
reported as usually correct and as per commitments. The concern can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Amit Chhaniara |
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Designation : |
Director |
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Contact No.: |
Mobile no. 91-9825607407 |
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Date : |
14.11.2008 |
LOCATIONS
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Registered Office : |
Unit No.41, Jimmy Tower, Opposite Swaminarayan Gurukul, Gondal Road,
Rajkot – 360 004, Gujarat, India |
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Tel. No.: |
91-281-2365766/ 2365764 |
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Mobile No.: |
91-9825607407 |
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Fax No.: |
91-281-2365766 |
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E-Mail : |
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Website : |
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Area : |
1000 sq ft |
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Location : |
Owned |
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Factory : |
Plot No: G - 1434, Phase - 1, Road - D [7/B], Gate No: 2, GIDC,
Metoda, Tal:- Lodhika, Dist:- Rajkot, Gujarat, India |
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Tel. No.: |
91 - 2827 - 287782 |
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Mobile No.: |
91 - 94262 69856 |
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Area : |
2000 sq meter |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Harkant Chhaniara |
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Designation : |
Proprietor |
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Address : |
Hari-Krushan Marg No.3, Panchshil Society, Gondal Road, Rajkot -360 004, Gujarat, India |
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Date of Birth/Age : |
56 Years |
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Qualification : |
B.Com |
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Tel. No.: |
91-281-386166/386135 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Machine Tools. |
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Products : |
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Brand Names : |
"QMP QUALITY" |
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Exports : |
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Products : |
Machine Tools |
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Countries : |
UAE, African Countries, Germany, Italy, Singapore |
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Imports : |
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Products : |
CNC Controller |
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Countries : |
Germany |
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Terms : |
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Selling : |
60% Performance invoice before delivery |
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Purchasing : |
L/C and 30% Performance invoice before delivery |
GENERAL
INFORMATION
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Customers : |
Wholesalers, Retailers, End Users and OEM’s |
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No. of Employees : |
20 (In office-5, In factory-15) |
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Bankers : |
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Facilities : |
CC – Rs.0.300 million |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Nitin Kamdar and Company Chartered Accountants |
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Address : |
Tricon Baug |
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.20.000 millions (including all investment) |
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Borrowed : |
-- |
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Total : |
Rs.20.000 millions (including all investment) |
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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7.000 |
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Expected Sales (2008-09): Rs.12.500 millions
LOCAL AGENCY
FURTHER INFORMATION
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Additional
Requirement of Indiamart for Trust-Seal |
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VAT / TIN : 24090900029 |
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IEC Code : 2400001791 |
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PAN / TAN : ABAPC3645C |
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Bank Name : HDFC
Bank |
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Bank A/c. No.: 06612020000197 |
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Account Since : 5
Years |
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In case of any affiliations / memberships / certifications
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Name : 9001:2000 |
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Type : BSC
International Certificate |
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Expiry Date : 04.09.2011 |
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TRADE REFERENCES:
- Techno Rubber
Products, Vapi
- S.V. Enterprise,
Ahmedabad
WEBSITE DETAILS:
The Subject Company has been constructing machinery since last more than 3 decades (incorporated in year 1967) and in those early years The company has taken a giant step, to manufacture hi-precision extra heavy duty lathe machine branded as a "QMP QUALITY" .They are the pioneer in machine tools and lathe machine technology as they are the first in Gujarat to manufacture such extra heavy duty lathe machine.
Subject after 5 years started constructing machineries like, roll turning lathe and roll grooving machines starts from 10' (feet) length to 40' (feet) length, such machines are used in giant sectors like sugar plants and rubber industries, after getting huge success and excellent response in 80's . They started to manufacture a customized products, Which fulfilled the customer's invincible needs you can say quality special purpose machine, and which was the best in their respective field and that's how the "QMP QUALITY" brand comes up as a leading brand in special purpose machine and lathe machine in India.
Subject in early 90's being a master in special purpose machine built many SPM's like Thread Milling Machine for Plastic Injection Screw Cutting Machine, Crank Shaft Turning Machine, Double Head Turning Machine, Roll Grinding Machine, Roll Camburing Machine, Multi Spindle Boring Machine Tailored to meet facing, boring, turning, high speed Thread Whirlling Machine, Horizontal Key Way Machine, Granite or Marble cutting Machine, "T" and "C" slot making machine tailored to fulfilled the requirement of elevetor makers, and number of SPM's which are running successfully and helping user's to stand with this competitive market in their respective fields.
In the same ERA, QMP has developed Thread Milling Machine, nearly 30 machines are working and are under production and each machine was upgraded and developed regularly to meet it's best performance and requirement, with the automation "QMP QUALITY" went beyond traditional machinery to eventually specialize in computer numeric control [CNC Controllers]. Which was specifically tailored to meet the customer requirement and thus after many inquiries Subject started CNC Thread Milling Machine specified as Thread Milling center to satisfy the plastic sector... with today's complications in twin screw and single screw, It was necessary to keep this machine user friendly as possible as to avoid complex and time consuming.
The production and programming of single and twin screws for plasticising is made much more easier through the use of customized software for screw cutting. Screws can be conical or Cylindrical, Eccnetric or Polygonal forms, with constant of variable pitch, or multistar, Quality's CNC TMC Machine features easily with it's user friendly controller and the controller is also directly connected to pc or network system. Available models include machines with Different types of milling heads, i.e. with endmill or disk cutters and wheather it is with CNC controller of conventional.
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] 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.49.46 |
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UK Pound |
1 |
Rs.73.17 |
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Euro |
1 |
Rs.62.96 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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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27 |
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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