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MIRA
INFORM REPORT
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Report Date : |
15.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
NATIONAL ENGINEERS (INDIA) |
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Registered Office : |
Nirankari Street No. 3, Miller Ganj, Ludhiana 141003, Punjab. |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1990 |
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PAN No.: [Permanent
Account No.] |
ABRPS9371G |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of Chains and Slats. |
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 7500 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is well established concern having satisfactory track. Trade relations
are fair. Payments are usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Ramesh Sharma |
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Designation : |
Proprietor ( Chief Executive Officer ) |
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Date : |
11.10.2008 |
LOCATIONS
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Registered Office/Factory : |
Nirankari Street No. 3, Miller Ganj, Ludhiana 141003, Punjab. |
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Tel. No.: |
91-161-2543161 |
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Mobile No.: |
91-9815106945 |
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Fax No.: |
91-161-2543161 |
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E-Mail : |
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Area : |
1200 sq mtrs |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Ramesh Sharma |
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Designation : |
Proprietor ( Chief Executive Officer ) |
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Date of Birth/Age : |
48 Years |
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Qualification : |
Graduate |
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Experience : |
24 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Chains and Slats. |
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Products : |
· Conveyor Chain |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and credit |
PRODUCTION STATUS
Capacity to increase production by : 50%
GENERAL
INFORMATION
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Suppliers : |
Own Manufacturing |
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Customers : |
· Oil Extraction Plant · Textile Industry · Sugar Industry · Steel Rolling Mills · Cements Plants |
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No. of Employees : |
17 |
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Bankers : |
Union Bank of India, Ludhiana – 141 003, Punjab, India |
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Banking
Relations : |
Satisfactory |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.500 Millions |
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Borrowed : |
NA |
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Total : |
Rs. 1.500 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 |
9.000 |
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Profit/Loss for the year |
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12% |
12% |
Expected Sales (2008-09) : Rs.12.500 Millions
LOCAL AGENCY
FURTHER INFORMATION
WEBSITE Details:-
Established at Ludhiana-Punjab, in the year 1990, they are manufacturers
of chains and slats used across various industries. They were incepted with the
aim to cater to the chain requirements of sugar industry but with the period of
time, with their hard work and commitment they have expanded their selves by
manufacturing diversified range of chains and slats.
Through their committed approach towards their clients, they are able to offer
highly efficient and resistant to wear and tear chains. With their qualitative
range of chains they are offering complete solutions to their clients. Offering
complete satisfaction to their clients is their ultimate motto and they always
work with their customer oriented approach in all their work process. With
their complete focus in their approach they have transparent business dealings
in which their clients are made aware of all the facts of the concern.
Mission
They work with a mission to provide effective solutions to their clients
in the field of industrial chains that are used in the machineries. Their
mission is to offer products that enhance the efficiency of the machineries in
which these chains are used.
Products They Offer
Best utilizing their resources and expertise, they are able to offer
diversified range of chains used in machineries and plants of different
industries. Range of chains that they offer are Extractor Chain, Redler Chain,
Bulk Flow Chain, Drier Cooler Chain, Elevator Chain, Roller Chain, Industrial
Chain, Conveyor Chain, Sprockets, Drier Cooler Perforated Sheet, Seamless
Elevator Bucket and Industrial Gears. Some of the features of their chains are
as follows:
· Made up of high carbon steel
· Accurate fitting
· Long life
· Highly efficient
· Chemical and oil resistant
Application Area
To leave a long lasting impression on their clients, they offer
diversified range of qualitative chains that are used across different
industries. Their chains are designed and developed as per the clients
application need so that it can be used across different industries. Some of
the industries where their chains are widely used are:
· Oil Extraction Plant
· Textile Industry
· Sugar Industry
· Steel Rolling Mills
· Cement Plants
Quality Assurance
They follow strict quality mechanisms in all their work process in order
to offer best quality chains to their clients. Stringent quality measures are
adopted at each stage so that quality is strictly maintained at all the stages.
Tensile strength and durability are the two major aspect on which they regular
test their chains and other products. It ensures that only best quality
products are offered to the clients for their mills and plants. Some of the
other test that they conduct on their products are:
· Hydraulic test
· Lead test
· Welding test
· MPZ test
These tests are done at regular interval in the manufacturing processes, at the
time of dispatch of consignment and also when any change and modification are
included in the manufacturing processes.
Manufacturing Facility
They have all the necessary facility, which is required for the smooth
and efficient production. All the installed machineries are technically
upgraded and are based on latest technology to offer fast and accurate results.
Their technically sound and upgraded range of machineries are capable of
manufacturing chains as per the clients application need and requirements so
that they are benefited with their products. Some their high technology based
machineries are as follows:
· Power test drill
· Milling and drilling machine
· Hobbing machine
· Key-way machine
· Grinding and center grinding machine
· Welding machine
· Broaching machine
Judicious use of these machineries enhance their production capacity and
it further ensure them to timely execute all their orders of the clients. These
machineries are operated under the guidance of technical expert staff, who are
aware of the complete operation of these machineries.
Expert Team
To perfectly meet the clients requirement they have with them a team of
professionals who help them in maintaining the quality of their products and services.
With the expertise and experience of their team they are offering efficient and
durable range of chains, which are known for their excellence. It is due to
their dedication and effort that they are successfully catering to the
requirements of their customers. With their support and co-operation they have
retain their niche among the leading Indian manufacturer of chains.
Led under the able leadership of Mr. Ramesh Sharma, they are
consistently marching ahead in their respective domain. He always comes up with
the innovative thought and process for the betterment of workforce and the
organization.
Packaging and Warehouse
To maintain the quality of the products they ensure fine packaging to
their products so that they are protected from the normal wear and tear.
Quality material is used in the packaging process so that these are safely
distributed to the various locations. Their chains are packed in plastic
covering and the bulk packaging is done in wooden boxes and pellets.
They have in-house warehousing facility that efficiently store bulk quantities
of finished products. Their warehouse have controlled atmosphere that is free
from moisture, dust etc., to prevent the Industrial Chain, Conveyor Chain,
Sprockets, Drier Cooler Perforated Sheet, Seamless Elevator Bucket and
Industrial Gears and other products from rusting and corrosion. They store
their products under labeled units in segregated areas, which ease out the
delivery process.
Customer Satisfaction
Their ultimate aim and mission is to offer products that assures
complete satisfaction to their clients. They carry all their work process in a
customer oriented approach so that they can take care of their clients
requirements and delver products as per their application need, which offer complete
solution to their clients. Understanding the importance of clients
satisfactions, they take care that it completely offered to their clients,
which in turn leads to the growth of the concern.
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.47.71 |
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UK Pound |
1 |
Rs.83.30 |
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Euro |
1 |
Rs.65.12 |
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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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