MIRA
INFORM REPORT
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Report Date : |
03.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
SREE PLAST |
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Registered Office : |
5-A, Sarathinagar, Trichy Road, Singanallur, Coimbatore – 641 005,
Tamil Nadu |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1997 |
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PAN No.: [Permanent
Account No.] |
AVWPS6617A |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers and Exporters of Plastic Components and 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 50000 |
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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 meeting its normal
commitments timeously. Trade relations are fair. Business is active. Nothing adverse reported The concern can be considered good for normal business dealings. |
LOCATIONS
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Registered Office/ Head Office / Factory : |
5-A, Sarathinagar, Trichy Road, Singanallur, Coimbatore – 641 005,
Tamil Nadu, India |
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Tel. No.: |
91-422-2573030 |
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Fax No.: |
91-422-2599270 |
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E-Mail : |
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Website : |
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Area : |
4300 Sq.fts |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Sridhar Aravind |
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Designation : |
Proprietor |
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Date of Birth/Age : |
30 years |
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Qualification : |
B. Com |
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Experience : |
10 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Plastic Components and Equipments |
GENERAL
INFORMATION
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Customers : |
Engineering Industries |
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No. of Employees : |
16 (4 in Office and 12 in Works) |
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Bankers : |
Bank of India, Ramanathapuram, Coimbatore – 641 045, Tamil Nadu,
India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
G G Associates Chartered Accountants |
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Address : |
Coimbatore – 641 045, Tamil
Nadu, India |
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Associates/Subsidiaries : |
Xlpore Info systems, Coimbatore, Tamil Nadu, India |
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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9.000 |
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Detail |
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Existence Verification |
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Name |
SREE PLAST |
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Statutory Approvals |
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Legal Status of Firm |
Proprietorship Firm |
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Income Tax Registration |
AVWPS6617A |
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Central Sales Tax Registration |
292320 |
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State Sales Tax registration |
1823480 |
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Name of Bank |
Bank of India |
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Account Since |
2006 |
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Creditability Factors |
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India Mart Client Since |
Since 2 years |
WEBSITE Details:-
Founded in the year 1983, they have registered their presence as one of
the prominent manufacturers, exporters and suppliers of a wide array of plastic
components and equipments that are needed in many sectors. They are also the
OEM of a wide array of the above mentioned product line. They have come a long
way since their inception and have grown rapidly. They have an annual turn over
close to a crore and they are determined to make it reach high levels.
Their specialty lies in the diversity of the range that they offer. With the
expertise of their team and hi tech manufacturing facilities, they have offered
comprehensive and high performance products that have been demanded immensely
in the market. Thus, they have successfully catered to the needs of many
clients who hail from different industrial back ground.
Their reputation is evident of the trust that their clients bestow on
them. They are preferred over their competitors and are approached with varied
industrial challenges, which they successfully answer. Encouraged by the
immense popularity, they are determined to offer absolute satisfaction, so that
their clients indulge in repeated business with them.
Product Profile
Their collection has a variety of components and equipments that are
needed in many sectors. They offer Automobile components, plastic parts for
electronic parts and textile components. Their products are made of the finest
plastic granules and scraps that are obtained after rigorously testing them
physically and chemically. Making use of sophisticated machines and
technologies, they manufacture products that have the following salient
features:
· High sturdiness
· Heat resistant
· Precisely engineered
· Absolute reliability
· Accurate dimensions
· High tolerance of stress
Team
They have a talented and well qualified team of Workers, designers,
researchers and managers, who are geared with relevant credentials and have
immense industry experience. They also have an in depth knowledge about the
industry trends and ways. They keep a close tab on the market and keep their
eyes open to all sorts of changes and up gradation, so that they do not lag
behind in any aspect. They heartily acknowledge their contribution and commend
their dedication and sincerity.
Application Area
Their exclusive range of plastic components is very efficient and is
highly demanded. These are needed in many industries, some of which:
· Automobile Industry
· Textiles Industry
· Electrical Industry
· Engineering Industry
· Sanitary hard ware
· Cell making industry
· Home wares
Quality Assurance
Quality is of utmost importance to them and
to make sure that it is not compromised with they have appointed a team of
quality inspectors. A visual inspection is performed by their trained machine
operators on every part that is made the moment it comes out of their machine
using the parameters and critical dimensions to identify any rejects.
The parts are then randomly inspected once again by their QA personnel at the
machine once every hour, and any rejects are logged. Finally, the acceptable
parts are boxed, counted, and moved to their quality control department, where
they are randomly inspected once again, and the count is verified. The parts
are then ready for shipment. Some of the parameters that their products are
tested for are as follows:
· Dimensional stability
· Exterior weather resistance
· Resistance to heat
· Capacity to take stress
· Efficiency
· Toxicity
Value Added
Services
They offer a wide array of services in addition to offering products of
high efficiency and durability. They indulge in finishing services that
encompass decorating, labeling, assembly and packaging as per the client’s
specifications. They also readily offer unfailing technical support to their
clients post purchase to save them from any sort of inconvenience. They are
also engaged in fabricating, custom mold designs, mold engineering, mold
creating, injection molding as per the clients specifications.
Clients
They are privileged to have a long list of clients, who are spread all
across the world. Their client base has the leading names of the international
and domestic industry. They are all quality oriented like them. They have
served them with their sincere efforts and dedication and have answered their
vivid industrial challenges. They have also developed a rapport with them that
makes them more approachable and popular. Due to their better understanding
they are preferred by them and they indulge in repeated business with them.
Plastic Product
Range
They are one of the leading manufacturers, exporters and suppliers of a
wide variety of plastic components and equipments that are needed in varied
industries. Their products are made of the finest plastic granules and scraps
that are picked after rigorous testing of attributes. They have state of the
art infrastructural facilities that are used by their work force and enable
them in manufacturing products of high efficiency and performance. Their wide
collection has the following:
Their range of automobile components includes plastic injection molded
components including automatic transmission parts, radiator fans, auto
electrical parts and many more. They offer molded critical components for auto
electrical parts, auto lighting, steering, transmission parts and cooling
management systems.
Their range automobile range also includes Injection molded plastic parts that
are used in automobile construction. These have advanced design and retain mold
integrity. These have numerous applications in the industry such as ignition
case assemblies, brake reservoirs, suspension bushes and many more. Other
products that come under automobile range are as follows:
They offer plastic parts and products that are needed in electrical
industries as well. These are injection molded and are made of the finest
plastic granules and scraps that are picked after rounds of testing. They have
a large variety of products in this category which are as follows;
They manufacture consumer components that are made using premium quality
of plastics and are also durable as well as widely demanded in various
industries. These components can easily be customized according to the clients
requirements and the details furnished by them.
They manufacture textile components that boast of dimensional
tolerances, quality, precision, absolute reliability and the high performance
and durability. All their products in this range are made of the finest raw
material that is the finest available. They have sophisticated machines that
turn the raw material in to fine products. These have high productivity and
efficiency.
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 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 |
|
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 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
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 |
NO |
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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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