MIRA
INFORM REPORT
|
Report Date : |
13.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ALLIED THERMAL SOLUTIONS |
|
|
|
|
Formerly Known As : |
GLOBAL THERMAL SOLUTIONS |
|
|
|
|
Registered Office : |
23/7-24 Mile Stone, Sector 59, Faridabad-121004, Haryana |
|
|
|
|
Country : |
India |
|
|
|
|
Year of Establishment : |
2006 |
|
|
|
|
Legal Form : |
Sole Proprietary Concern |
|
|
|
|
Line of Business : |
Manufacturers and Exporters of Furnaces, Material Handling Equipment
Refractory, Aluminium Casting Conveyors etc. |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Maximum Credit Limit : |
USD 14000 |
|
|
|
|
Status : |
New Concern |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively new concern and took over the business of
erstwhile partnership concern. Proprietor is a young and energetic personnel.
His trade relations are reported as fair. Business is active. Payments are reported as slow but correct. The concern can be considered for small to mediocre business dealings
at usual trade and conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Ajay Jaiswal |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9312068097 / 9350246378 |
|
Date : |
10.10.2008 |
LOCATIONS
|
Registered Office/Factory : |
23/7, 24 Mile Stone, Sector 59, Faridabad-121004, Haryana, India |
|
Tel. No.: |
91-129-4154300 |
|
Mobile No.: |
91- 9312068097 |
|
Fax No.: |
91-129-4154300 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000 sq. yds |
|
Location : |
Rented |
SOLE PROPRIETOR
|
Name : |
Mr. Ajay Jaiswal |
|
Designation : |
Proprietor |
|
Age : |
30 years |
|
Qualification : |
B.Com |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporters of Furnaces, Material Handling Equipment
Refractory, Aluminum Casting Conveors etc. |
|
|
|
|
Products : |
|
|
|
|
|
Exports : |
|
|
Products : |
v Furnaces and
Material Handling Equipment |
|
Countries : |
v Dubai v Gulf Countries v African |
|
|
|
|
Imports : |
|
|
Products : |
Machinery |
|
Countries : |
Nigeria |
|
|
|
|
Terms : |
|
|
Selling : |
D/D , T/T |
|
|
|
|
Purchasing : |
Credit , Cash |
GENERAL
INFORMATION
|
Customers : |
v End Users |
|
|
|
|
No. of Employees : |
10 ( in office + in factory) |
|
|
|
|
Bankers : |
New Industrial Township |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Mr.Bhanupratap Chartered Accountant Faridabad |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.3.500 Millions |
|
Borrowed : |
0.000 |
|
Total : |
Rs.3.500 Millions |
[all figures are in Rupees Millions]
|
Particulars |
|
31.03.2008 |
31.03.2007 |
Expected Sales (2008-09) : Rs.12.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Subject was previously known as Global Thermal, established in 2004 as a
partnership concern. It had been re-established as a proprietory concern in
2006.
History
Subject established
in 2006, has carved a niche for itself over a remarkably short span of time.
They are a distinguished manufacturer, exporter and importer of
wide range of Furnaces, Material Handling Equipments, etc. The
company located in Faridabad, truly reflects the hardworking and enterprising
nature of the famed industrial city. They take the very best of the
existing furnace and material handling equipment technology to the next level
by incorporating a list of design features not found in products of other companies. Real-life serviceability and
unique time saving controls are all combined in a compact package with
efficiency level of up to 100%.Their products are truly a step above the rest.
They take pride in possessing world-class production facilities,
manned by some of the finest talents in the industry. Their stringent
commitment to the highest standards of quality has been the driving force
behind Their growth. Utmost care is taken to maintain quality standards, across
every stage of production, right from the stage of product conceptualization to
the actual delivery of the product. Their biggest testimonial is perhaps Their
ever-increasing list of clients in the national as well as international
market. The unchallenged expertise of Their professionals has led us to set
standards in the industry. It is with this conviction that They are forging
ahead in Their journey to become the undisputed leader of their chosen field.
Owing to their quality & accuracy, They have won the trust and support of
over thousands of satisfied customers both in India and abroad. They regularly
export their products to African & Gulf countries and
to South East Asian countries. Only finest quality of raw
materials are imported from reputed agents of countries like Italy.
Product Range
Allied Thermal Solutions is an eminent manufacturer, exporter and
importer of the following products:-
- Furnaces
- Melting Furnace
- Heat Treatment
Furnace
- Material Handling Equipments
- EOT Cranes
- Chain Conveyor
- Rotary Caster.
Quality Assurance
Subject is committed
to provide quality products at most reasonable prices. They are also
acknowledged by Their satisfied customer for Their prompt delivery service. All
Their products go through stringent quality control at each level of the
production process to provide complete customer satisfaction. Needless to say,
the furnace can only be as good as the components and materials which go into
its making. Hence They pay special emphasis on proper and cost effective
selection of structural steel, combustion system, heating elements, insulation
& refractory materials, etc. which are used for the manufacture of our
furnaces. Their furnaces are known for high thermal
efficiency. They endeavor to provide most efficient and durable products
at
the most reasonable price. Unfailing quality & service has
ensured wide acceptance for our products in all industries.
Infrastructure
Their phenomenal growth to the use of hi-tech infrastructure.
Subject’s production units boast of state-of-the-art machinery, enabling us to
maintain the highest standards of quality and excellent production values. The
workforce comprises of highly qualified engineers and dedicated laborers who
share the vision of always ensuring ‘customer’s delight’. They are firm
believers in investing in the latest technology and constant up gradation of
the same, in accordance with changing needs of the industry. With a team of
highly dedicated and professional
executives at the helm of affairs, They have leapfrogged into
a position of being the most preferred choice of a host of industries.These
modern infrastructural facilities have enabled us to cater products which
are made available with attributes like -superior quality, dependability,
energy-efficiency, value and comfort.
Trade References
- Acme Protect, Faridabad
- Enteck-Faridabad
- Blue Precision Faridabad
- Dacc ( Delhi Alloy Casting
Company) ,Faridabad
- Sun Mutale Castings , U.A.E
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.72 |
|
UK Pound |
1 |
Rs.82.17 |
|
Euro |
1 |
Rs.65.90 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
|
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
29 |
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|