MIRA
INFORM REPORT
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Report Date : |
02.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
ELECTRO AUTOMATION |
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Registered Office : |
69 / 7A Gopalan Kadai, Perambai Road, Pondicherry – 605010, Tamilnadu |
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Country : |
India |
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Year of Establishment : |
1977 |
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Financial as on : |
31.03.2008 |
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Legal Form : |
Partnership Concern with an unlimited liability of the partners |
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Line of Business : |
Manufacturer, Importers, Exporters and Distributors of factory
automation products. |
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 40000 |
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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 having satisfactory
track. Partners are reported as
experienced and respectable businessmen.
Trade relations are reported as fair.
Business is active. 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. Raman |
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Designation : |
Accountant |
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Contact No.: |
91-9940031513 |
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Date : |
29.09.2008 |
LOCATIONS
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Registered Office/ Factory : |
69 / 7A Gopalan Kadai, Perambai Road, Pondicherry – 605010, Tamilnadu,
India |
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Tel. No.: |
91-413-3298556 |
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E-Mail : |
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Area : |
4000 sq ft |
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Location : |
Rented |
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Head Office : |
Toshni – Tek International 267 Kilpauk Garden Road,
Chennai – 600010, Tamilnadu, India |
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Tel No.: |
91-44-26444214 / 26444215 |
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Fax No.: |
91-44-26448847 |
PARTNERS
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Name : |
Mr. Praveen Bihani |
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Designation : |
Partner |
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Age : |
65 Years |
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Name : |
Mrs. Navitha Bihani |
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Designation : |
Partner |
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Age : |
35 Years |
KEY EXECUTIVES
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Name : |
Mr. Anuj Bihani |
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Designation : |
CEO |
BUSINESS DETAILS
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Line of Business : |
Manufactures, Importers, Exporters and Distributors of factory
automation products. |
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Products : |
v Sensors v Measuring
Instruments v Programmable
Logic Controllers v Human Machine
Interfaces v Industrial PC v Microscopes v Machine Vision
Systems v Servo Motors v Stepping Motors v Cooling Fans v Pneumatic
Cylinders v Indexers v FRL Units v General Purpose
Valves v Safety Light
Curtains v Safety Interlock
Switches v Industrial
Automation Products v Barcode Reders v Colour Mark
Sensors v Displacement
Measurement Equipments v Fibre Optic
Sensors v Index Tables v Indexing Heads v Laser
Displacement Sensors v Laser Sensors v Robots v Pressure Sensors v Proximity
Controllers v Trolleys v Pallet v Untrasonics
Sensors v Video
Microscopes v Visual
Inspection Systems v Relay Safety v Special Purpose
Machines v Worktables |
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Exports : |
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Countries : |
Dubai and Pakistan |
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Imports : |
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Countries : |
Germany, Singapore and Thailand |
GENERAL
INFORMATION
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No. of Employees : |
40 |
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Bankers : |
·
State Bank of India,Kilpauk Branch,Chennai – 600010, Tamilnadu ·
HDFC Bank, Mount Road. ·
Central Bank, Kilpark Branch. |
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Facilities
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NFB – Rs. 6.000 Millions (From HDFC Bank) |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Vardhaman and Company Chartered Accountant |
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Associates : |
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Name : |
Electro Optics Private Limited |
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Address : |
267 Kilpark, Garden Road,Chennai – 600010, Tamilnadu |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 10.000 millions |
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Borrowed : |
-- |
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Total : |
Rs. 10.000 millions |
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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200.000 |
LOCAL AGENCY
FURTHER INFORMATION
This is a part of the Toshni Tek group of Chennai. To help in their operations Toshni - Tek formed
two sister concerns one Electro Optics Private Limited and another the subject.
The parent company was established in 1973 to provide hi-tech components
and instruments to Research and Development Laboratories and Industries. The subject firm was founded in 1977 and the
Pondicherry factor was established in 1998.
Toshni - Tek grew from staff of two to over one hundred highly qualified
personnel over a period of last over 30 years.
Toshni - Tek is very strong in analyzing customers requirements, design
best products and systems, supply quality products and provide excellent
service support.
The customer base cover civil engineering industries, automobiles –
pharma – packaging – printing – universities, R & D Labs, hospitals. Offices spread over to Chennai, Hyderabad,
Coimbatore, Bangalore, Mumbai, Delhi.
Toshni - Tek Sales Engineers are highly qualified and well trained to
understand customers applications and provide the best solution. They are supported with application engineers
who can provide field trials, proving and support after sales. Also Toshni - Tek has experienced design
engineers to design special purpose machines, automated inspection systems,
conveyors, etc. After sales support is provided by factory trained service
engineers.
Toshni - Tek has designed, manufactured and supplied automated
inspection stations for injection valves, brake drums, pharmaceutical tablets,
cartridges, conveyors, special structures, etc. Toshni - Tek has also provided high class solutions for some of
the very critical civil engineering alignment challenges.
Toshni - Tek provides one of the best service facility for surveying
instruments in India with lease turn around time.
Toshni - Tek activities are supported by two sister companies, Electro
Optics Private Limited and the subject.
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.46.96 |
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UK Pound |
1 |
Rs.83.91 |
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Euro |
1 |
Rs.66.36 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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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 |
6 |
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--LEVERAGE |
1~10 |
6 |
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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 |
YES |
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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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49 |
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/normal. |
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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