MIRA
INFORM REPORT
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Report Date : |
13.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
ICON EMBEDED CONTROLS |
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Registered Office : |
No. 18, Kasthuribai Gandhi Nagar, III Street, Kamarajar Road,
Coimbatore – 641 015, Tamil Nadu |
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Country : |
India |
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Financials (as on) : |
31.03.2008 (Estimated) |
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Year of Establishment : |
2007 |
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IEC No.: |
3207014241 |
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PAN No.: [Permanent
Account No.] |
Aacfi3490a |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturer and Exporters of Industrial Automation Products. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 8000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern meeting its smaller commitments
usually in time. Trade relations are fair. Scale of activity is limited. The concern can be considered good for small to mediocre business
dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. B Shakti Vel |
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Designation : |
Partner |
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Contact No.: |
91-9486188917 |
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Date : |
06.10.2008 |
LOCATIONS
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Registered Office/ Factory : |
No. 18, Kasthuribai Gandhi Nagar, III Street, Kamarajar Road, Coimbatore
– 641 015, Tamil Nadu, India |
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Tel. No.: |
91-422-2594680 |
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Mobile No.: |
91-9486188917 (Mr. Shakti) / 9486188919 |
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E-Mail : |
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Website : |
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Area : |
1000 Sq.fts |
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Location : |
Rented |
PARTNERS
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Name : |
Mr. V R Ashok Kumar |
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Designation : |
Partner |
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Age : |
35 years |
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Qualification : |
M. Sc (Infotech) |
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Name : |
Mr. B Shakti Vel |
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Designation : |
Partner |
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Age : |
37 years |
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Qualification : |
M. Sc (Applied Electronics) |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporters of Industrial Automation Products. |
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Terms : |
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Selling : |
Cash, Credit (30 Days) |
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Purchasing : |
Cash, Credit |
GENERAL
INFORMATION
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Supplier : |
Waaree Instruments, Mumbai and Chennai |
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Customers : |
T V Sundaram Iyengar and Sons, Chennai |
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No. of Employees : |
14 |
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Bankers : |
Andhra Bank, Ceelamedu Branch, Coimbatore, Tamil Nadu, India |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Mr. Raja Chartered Accountant |
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Address : |
Located At Coimbatore |
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.0.200 Million |
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Borrowed : |
-- |
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Total : |
Rs.0.200 Million |
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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6.000 |
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Profit/Loss for the year |
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1.200 |
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Inventories |
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0.400 |
Expected Sales (2008-09) : Rs.7.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
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Additional
Requirement of Indiamart for Trust-Seal |
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VAT / TIN : 33941824678
issued on 27.04.2007 |
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IEC Code : 3207014241 |
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PAN / TAN : AACFI3490A |
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Bank Name : Andhra
Bank |
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Bank Address : Ceelamedu
Branch |
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Bank A/c. No.: 450 |
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Account Since : November
2006 |
TRADE References:-
· LG Equipments, Coimbatore
· TVS Tools and Carrier Equipments, Madurai
WEBSITE DETAILS:-
Concern Profile:
Since its inception in the year 2003, Under the inspirational leadership of Mr. Sakthivel and Mr.V.R.Ashok Kumar, every unit in the concern has worked as a well knit family and has worked towards common goal of excellent quality products and cent percent customer satisfaction.
Their products are extensively used in industrial applications like electrical,
electronics, pneumatics, automation panels etc. They are able to serve such
diverse applications with the help of their world class infrastructure equipped
with latest machinery. Further, they also conduct stringent quality checks so
as to ensure flawless products. Their good manufacturing policy (GMP) has won
them many clients like suguna pneumatics, MRF, TVS, LGB, Poppys Group etc.
They have with them all the important certifications that validate their high
working standards and world class quality. They are certified with ANSI/ISO/ASQ
Q 9001: 2000, Bureau of Indian Standard, WHO GMP Complaince and many more. The
concern also has trade affiliations with ASSOCHAM, Andhra chamber of Commerce
and other esteemed organisations.
Product Profile
Their concern is engaged in the manufacturing and exporting of a world class range of industrial automation products. Their most noted products on offer are
· Digital Tyre Inflator
· Air Compressor
· MS Fuel Tanks
· Power Panels
· Distribution Panels
· APFC (Automatic Power Factor Panels)
· Machine Control Panel
· Fuel Tank Automation
· Inbuilt Compressor
Digital Tyre Inflator
Their digital tyre inflators are the new age instruments in tyre inflations. They offer different styles of digital tyre inflators like LED, LCD, pedestal, wall mountable and with inbuilt compressor. All sleek in style, they are generally used in petrol pumps, automobile garages, tyre shops and service centers.
They have supplied their products to leading petroleum dealers of HPCL, BPCL,
IOC and Essar oil. They also have TVS, Hyundai Motors and Ford motors in the
list of their valuable customers.
Air compressor
They manufacture different range of compressors starting from 1HP to 25Hp. They offer reciprocating tank air compressors with one and two stages based on customer requirements. They are mainly used in petrol pumps, automobile garages, tyre shops, factories and commercial centers. They can also be ordered to be customized according to customers needs and requirements. Custom built compressors are also available on request.
MS Fuel Tanks
They are renowned for their quality fuel tanks. They manufacture different types of fuel storages tanks like fuel tanks, gas tanks, under ground storage tanks, above ground storage tanks, oil tanks, Day tanks, cone roof vertical storage tanks, chemical and industrial tanks. They also manufacture customized fuel tanks according to the requirements of their customer. All these tanks are prepared using the best quality raw materials procured from most trusted dealers.
LT and HT Panels
They at the concern produce a range of power panels available in different variations like flame proof panels used in fire stations, Automatic power factor correction panels up to 12 stages, EB power panels up to 300HP, MV, SSB and DB Panels. All their power panels are made of quality steel sheet metals with powder coated body. They use highly insulated power components in their power panels that are widely applicable in any type of factory power line requirements. Some of the features that sets their power panels apart are energy efficiency, reduces EB fines and maintains PF.
Distribution Panels
Distribution Panels manufactured in the concern are made of quality steel sheet metals with powder coated body. They use highly insulated power components in their power panels that are widely applicable in any type of factory power line requirements. Their distribution panel also monitors and saves DC systems.
APFC (Power Factor
Panels)
Icon Automatic Power Factor Controller are manufactured to meet the highest quality standards. Finest quality raw material coupled with latest technology ensures a quality product with virtually zero maintenance. Their power factor panels are successfully running in more than hundred client locations. They make use of only quality spares and branded products like EPCOS, GE etc for their panels. To ensure good quality and reliability, they use heavy duty or capacitor duty contactors and relays only. Their APFC are suitable for any type of Factories, larger Organizations, Hospitals, Hotels, Residential and Commercial Complexes. The benefits of using their power factor controllers are reduced power consumption, voltage drop in the long cables are eliminated and transformers and distribution equipment losses are reduced.
The concern offers Machine Control Panels mainly for process control machineries. There is a graphical diagram in their machines explaining the whole process of a factory on the panel. And the On and Off Status of the machineries are shown with the visual pilot lamps. They make their panels more visually appealing than a normal control panel for the same price.
Fuel Tank Automation
They are among the market leaders in the production of fuel tank automations. Their fuel tank automations are widely used for different industrial applications and have eased out measurement by fuel tanks, level and volume (in liters). These fuel tank automations are used for different liquids like petrol, diesel, oil and other chemicals. Their fuel tank automations have ultrasonic level sensor, are flame proof, do not come in direct contact with the liquids and has data logging in the pc. They also prove to be money saving equipments as they give accurate volume reading, prevent fuel thefts, stops improper use of fuels.
Inbuilt Compressor
Their inbuilt compressors are generally used in the digital tyre indicator. They can be used for inflating tyres of all vehicles, whether they are 2 wheelers, 4 wheelers or multi axle vehicles. This eliminates the need for any external compressor. The inbuilt compressor that they manufacture lends many advantages to customers. There is no need for long air line pumps, no tension of any pipe line leakages, very compact, easy to install, low maintenance, low noise, saves air, saves power and most of all, they are very economical.
Infrastructure
They have been able to meet all the requirements of the industry and customers with the help of their state-of-the-art infrastructure. Equipped with modern machines, their production unit can take up any size of order and deliver it at the fixed time. This unit and all others are upgraded from time-to-time to keep in sync with the dynamic changes taking place in the industry across the globe.
They are a renowned concern engaged in manufacturing and exporting of a range of industrial automation products. Through their cutting edge technology coupled with a qualified workforce they are able to meet the requirements of the diverse industries they serve. The assortment of their products include the following:
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.48.72 |
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UK Pound |
1 |
Rs.82.17 |
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Euro |
1 |
Rs.65.90 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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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27 |
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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