MIRA
INFORM REPORT
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Report Date : |
04.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
RAVINDRA ELECTRIC COMPANY |
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Registered Office : |
No. 16, BVK Iyengar Road, 1st Floor, Rangaiah Complex,
Bangalore – 560 053, Karnataka |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1965 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers and Suppliers of Electrical 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 12500 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an old established concern having satisfactory track. Trade
relations are fair. Payments are usually correct and as per commitments. Nothing adverse reported. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office/Factory : |
No. 16, BVK Iyengar Road, 1st Floor, Rangaiah Complex,
Bangalore – 560 053, Karnataka, India |
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Tel. No.: |
91-80-22266282 / 41159920 |
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Fax No.: |
91-80-22205723 |
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E-Mail : |
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Area : |
1000 Sq. ft. |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. Madan Cha |
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Designation : |
Proprietor |
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Date of Birth/Age : |
73 Years |
KEY EXECUTIVES
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Name : |
Mr. M Sumermal |
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Designation : |
Chief Executive |
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Date of Birth/Age : |
45 Years |
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Experience : |
25 Years experience in electrical business |
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Mobile No. : |
91-9844580901 / 9844077497 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Suppliers of Electrical Products. |
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Products : |
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All types of H.T. and L.T., OCB and ACB Starter Spares ·
Carbon Brushes- for any type of motors for AC and DC ·
Brush Holders- for any type of motors for AC and DC ·
Epoxy Moulding Slipring Units- for any type of motors for AC and DC ·
Bakelite Moulding as per the drawings and samples ·
All types of Motor Fans, Terminal Blocks, End Shields, etc. ·
Any type of E.O.T. Crane Current Collectors and Spares ·
Loco-Contacts as per the drawings and samples ·
Liquid Starter Spares as per the drawings and samples ·
Any type of Ferrous and Non Ferrous Castings ·
Any special contacts as per the drawings and samples in Ferrous and
Non Ferrous metals. |
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Terms : |
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Selling : |
30 days |
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Purchasing : |
30 days |
GENERAL
INFORMATION
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Suppliers : |
·
Unimak Electricals, Kolkata ·
Standard Electricals, Kolkata ·
Prakash Electricals, Blore ·
Siemens ·
G E PowerControls, MDS |
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Customers : |
·
Bharat Heavy Electricals Limited ·
Hindustan Aeronautics Limited ·
Larsen and Toubro Limited ·
B.E.M.L. ·
Siemens ·
L.T.L.K. ·
English Electric ·
MRI ·
Cutler-Hammer ·
Crompton ·
GEC ·
Jyoti |
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No. of Employees : |
10 |
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Bankers : |
Canara Bank Chickpet, Bangalore - 560 053, Karnataka, India |
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Facilities : |
Operating on own funds |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
B D Piragal Chartered Accountants |
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Address : |
Bangalore |
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Memberships : |
·
Electrical Merchants Association ·
Bangalore Switchgear Mfrs Association |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.2.500 millions |
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Borrowed : |
- |
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Total : |
Rs.2.500 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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10.000 |
8.000 |
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Profit/Loss for the year |
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About 10% |
About 10% |
Average Value of Inventories at any given time About Rs.0.700 million
LOCAL AGENCY
FURTHER INFORMATION
Web Details
Since
1965, Concern has been
the leading cost-efficient manufacturing entity responsible for high quality
custom engineered Brush Holder, Carbon
Brush, Brush Slipring Unit, Motor Terminal Board, Motor Fan, OCB and ACB Spares
up to 66 KV, etc. They can also manufacture Special Heaters, Solenoid Valves and No Volt Coil
Current collectors. The good clients are HAL, BEML, BHEL, Sugar
Industries, Steel Industries and Cement Industries. They also supply Switches, Starter Cable Lugs, Glands and Electrical
Spares made by Siemens, L and T, BCH, Dowell's, Alsthom, ABB,
Crompton, Finolex, Bajaj and CCI.
They
are a manufacturer, exporter and
supplier of all types of electrical goods. The good clients are
BHEL, Hal, Be Billmoria, Shapoorji Pallonji and Company Limited, Eta
Constructions (India) Limited, Mfar Construction Private Limited, Ahluwalia
Constructions, Oil Industries, amongst others. They can also supply all kinds
of construction site items such as Halogen
Fittings, Halogen Lamps, Halogen Spares, Lugs, Cable Glands and Multi Stand
Cables, Plugs, Sockets, Switches, Change Over Switches, MCBs, ELCBs, Panel
Boards and UG Cables. They also act as a reliable stockist of
MDSs, MCBs, Cables, Lugs, Glands and other electrical parts for companies like
L and T, SIEMENS, BCH, GEC Alstoma, Cromptonhavells and Standard Switches, etc.
They
manufacture OCB and
ACB Starter Spares, Motor Carbon Brush, Brush Holder Slipring Units,
Terminal Board, etc. as per the samples.
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.46.88 |
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UK Pound |
1 |
Rs.82.97 |
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Euro |
1 |
Rs.64.99 |
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 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
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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55 |
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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