MIRA
INFORM REPORT
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Report Date : |
10.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
PRIME PRECISIONS |
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Registered Office : |
177-B/1, Bharathiyar Road, Ganapathy, Coimbatore-641006, Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1996 |
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PAN No.: [Permanent
Account No.] |
ADQPV3512M |
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Legal Form : |
Sole Propreitory Concern |
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Line of Business : |
Manufacturer, Importer and Exporter of Conveyor Parts, Roller, Systems
for use in Material handling Equipments and Industries. |
RATING &
COMMENTS
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MIRAs 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 15000 |
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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. The concern can be considered good for normal business dealings. |
LOCATIONS
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Registered Office : |
177-B/1, Bharathiyar Road, Ganapathy, Coimbatore-641006, Tamilnadu,
India |
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Tel. No.: |
91-422-257122 |
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Mobile No.: |
91-9842237122 |
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Fax No.: |
91-422-2537122 |
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E-Mail : |
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Area : |
1600 sq.ft |
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Factory : |
SF No. 99/2A, Subbanaicken Pudur Road, Chinnavedampatti,
Coimbatore-641006, Tamilnadu, India |
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Area : |
6000 Sq. Ft |
SOLE PROPRIETOR
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Name : |
Mr. V Rajulu |
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Designation : |
Proprietor |
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Date of Birth/Age : |
38 Years |
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Qualification : |
B.E |
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Experience : |
20 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Importer and Exporter of Conveyor Parts, Roller, Systems
for use in Material handling Equipments and Industries. |
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Products : |
·
Belt Conveyors ·
Chain and Roller Conveyors ·
Apron Feeders ·
Bag Stackers ·
Bailing Press ·
Automatic Storage and Retrieval Systems ·
Precisionb Machined Components ·
Metal Fabricated Components |
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Exports : |
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Countries : |
Africa and Kenya |
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Imports : |
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Countries : |
Europe |
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Terms : |
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Selling : |
L/C, TT , Customer Credit 45 Days |
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Purchasing : |
L/C, TT, Cash and Credit ( Local) |
GENERAL
INFORMATION
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Suppliers : |
·
K R Enggineering, Coimbatore ·
Gautham Tube Corporation, Mumbai |
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Customers : |
·
D R Enterprises Automotive Private Limited, Chennai ·
Chennai Microprints, Chennai ·
Lanka Salt Limited, Sri Lanka ·
Puttlam Salt Limited, Sri Lanka ·
Rajsree Sugar and Chemical Limited ·
Shakti Auto Components Limited ·
Bull Machines Private Limited ·
Craftsman Automation |
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No. of Employees : |
17 (Office 2, Factory 15) |
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Bankers : |
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State Bank of India, Ganapathy, Coimbatore-641006, Tamilnadu, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Not Available |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 3.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 3.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2009 Targeted |
31.03.2008 |
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Sales Turnover |
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15.000 |
8.500 |
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Profit/Loss for the year |
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1.500 |
0.850 |
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Details |
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Statutory Approvals |
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Income Tax Registration |
ADQPV3512M |
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Central Sales Tax Registration |
855374 |
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VAT/ TIN Registration |
33492203177 |
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Name of Bank |
State Bank of India |
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Current Account Number |
10922268785 |
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Account Since |
About 12 Years |
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Credibility Factors |
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IndiaMART Client Since |
2 Years |
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Trade Affiliations |
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SSI Registration |
180435795 |
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Standards & Certifications |
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Quality Management Systems |
ISO 9001:2000/ TUV/8510000108156 |
AS PER WEBSITE
Profile:
Commenced in the year 1996; they, Prime Precisions, are engaged in
manufacturing, exporting and supplying of precision range of material handling
equipment and allied components.
The well established in-house design and research & development wing offers
us the needed quality to establish themselves as one of the front-runners in
the market. Their continuous efforts have enabled us to be a world player and
garnering clientele across the length and width of the globe. They are also in
the process of achieving ISO certification due to the qualitative products.
Under the guidance of the mentor, Mr. V. Rajulu, they are able to create a
niche for themselves in the industry for material handling and allied
components. His two decades of experience in the industry guided them well
through the tough competition of the industry. His innovative approach and
business acumen is the true force behind the extra ordinary growth in the
industry.
Products
They manufacture range of material handling equipment that
is rated amongst the best in the industry. They use qualitative grades of
stainless steel, mild steel, mild steel pipers, copper, aluminum, plastic,
nylon and others in the manufacturing process.
The equipments in the category of belt conveyors comprise of self contained
conveyors, pulleys and many more. Bag stackers encompass premium quality
loaders and lifts that are technologically advanced. The range of bailing press
includes of paper and metal scrap bailing. Under the range of construction
category they offer equipment such as fly ash brick, designer tiles and block
moulds. The range of precision machine components consists of fabricated items,
casting components and CNC machined components.
Industries
Catered:
The heavy duty and well fabricated technically advanced
equipment are renowned for quality, longer service life and efficient
performance. These features ensure they are used across various industries
worldwide. Some of the industries they serve are:
Automobile Industry
Chemical Industry
Textile Industry
Pharmaceutical Industry
Packaging Industry
Food Industry
Oil Industry
Cement Industry
Foundries
Sugar
Petrochemical and many more.
Manufacturing
Facilities:
The state-of-the-art manufacturing facility spreads across a
sprawling area of 10,000 square feet which conform to the international
standard in the range of production. The two manufacturing units are installed
with essential machinery and other facility to regulate the manufacturing
process. The high end machinery allows them to meet bulk production and cater
to the growing demands of the industry. Some of the cutting edge technology in
the manufacturing unit is:
Plano Milling Machine
Milling Machine
Jig Boring Machine
Heavy Duty Lathe
Surface Grinding Machine
Profile Cutting Machine
Arch Welding Machine
Tig Welding Machine
Sharing & Bending Machine
To support the manufacturing process they have a well developed in-house design
unit which is equipped with latest CAD/CAM software. It allows them to verify
designs before they are implemented in the manufacturing process.
Team:
The workforce is an inseparable and integrated part of the
company. The team is a blend of diligent and talented experts and professionals
from different fields. The team of professionals encompasses of:
Engineers
Designers
Procurement agents
Quality analysts
Administrators
Sales and Marketing executives
Other personnel
They work in coordination with each other to enable them to progress in the
business without any interruption. The personnel have thorough knowledge and
expertise in their specific field and they handle efficiently difficult
situations with ease.
The professionals work in close proximity with each other to ensure the clients
are served in a better way. Their innovative approach and skills allow them to
cater to the requirement of the diversified clients and add some new to the
list.
Quality:
To ensure quality in the entire endeavor they have devised a
quality control department which takes care of and implement latest
technologies to ascertain flawless equipment leave the premise.
From the very beginning they ensure raw material sourced is of optimum quality.
The quality analysts check the raw material for various quality parameters.
After intensive scrutiny and testing of the finished products the gamut is
allowed to be delivered. Some of the quality testing that products undergo
includes the following:
Corrosion resistance
Tensile strength
Tolerance
Accuracy
Temperature and Pressure
Hardness
The experienced quality analysts supervise the manufacturing process with
proper assistance from engineers and technicians. Further, they follow
international standard and norms for the array of equipment to garner complete
client satisfaction.
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 Intl
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 companys 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.48.74 |
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UK Pound |
1 |
Rs.85.19 |
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Euro |
1 |
Rs.66.12 |
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 |
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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45 |
This score serves as a reference to assess SCs 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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