MIRA
INFORM REPORT
|
Report Date : |
17.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
POSITIVE METERING PUMPS (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered Office : |
M-8, MIDC, Ambad, Nashik 400 010, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Date of Incorporation : |
12.03.1999 |
|
|
|
|
Com. Reg. No.: |
118861 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24294MH1999PTC118861 |
|
|
|
|
IEC No.: |
3102008577 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
Nskp01160f |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AACCPo388D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of dosing pumps and dosing system |
RATING &
COMMENTS
|
MIRAs 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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
The company is part in Corporate Governance are its no financial are available
since incorporation. Although management agreed but never parted the same. Subject appears to be on active company. Trade relations are fair. Payments are reported are slow but correct. The company can be considered for moderate business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Sanjay Jadhav |
|
Designation : |
General Manager |
|
Contact No.: |
91-9822376362 |
|
Date : |
15.10.2006 |
LOCATIONS
|
Registered Office/ Factory : |
M-8, MIDC, Ambad, Nashik 400 010, Maharashtra, India |
|
Tel. No.: |
91-253-2381993/94 |
|
Mobile No.: |
91-9822376362 (Mr. Sanjay) /9822197343 |
|
Fax No.: |
91-253-6601441 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
980 sq ft |
|
Location : |
Owned |
DIRECTORS
|
Name : |
Mr. Sudhir Gundopant Mutalik |
|
Designation : |
Director |
|
Address : |
3 Orse Wood Garden, Dsouza Colony, College Road, Nashik 422 005 |
|
Date of Birth/Age : |
42 Years |
|
Qualification : |
B. E (Mechanical) |
|
|
|
|
Name : |
Mrs. Jyotsna Sudhir Mutalik |
|
Designation : |
Director |
|
Address : |
3 Orse Wood Garden, Dsouza Colony, College Road, Nashik 422 005 |
|
Date of Birth/Age : |
38 Years |
|
Qualification : |
I.W.C.A |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 17.11.1998)
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Sudhir Gundopant Mutalik |
|
10 |
|
Mrs. Jyotsna Sudhir Mutalik |
|
10 |
|
Total |
|
20 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of dosing pumps and dosing system |
|
|
|
|
Products : |
|
|
|
|
|
Exports : |
|
|
Products : |
Dosing Pumps |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash (Advance Cheque) |
|
|
|
|
Purchasing : |
Credit (30 days) |
GENERAL
INFORMATION
|
Customers : |
End Users, OEMs
|
|
|
|
|
No. of Employees : |
30 |
|
|
|
|
Bankers : |
Citi Bank, Bhosala, Military School Bank of Maharashtra, College Campus Branch |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Yogesh Pande and Associates Chartered Accountant |
|
Address : |
Nashik |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150000 |
Equity Shares |
Rs.10/- each |
Rs.1.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
150000 |
Equity Shares |
Rs.10/- each |
Rs.1.500 Millions |
||
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
|
31.03.2008 |
|
Sales Turnover |
|
|
16.800 |
Expected Sales (2008-09) : Rs.20.000 Millions
No financial are
available since incorporation of the company.
LOCAL AGENCY
FURTHER INFORMATION
|
Additional Requirement of Indiamart for Trust-Seal |
|
|
|
|
|
Excise Registration No.:AACCP0D388D XM001 |
|
|
VAT / TIN :27960057814V |
|
|
IEC Code :3102008577 |
|
|
|
|
|
PAN / TAN :AACCP0388D |
|
|
|
|
|
Bank Name :Citi Bank |
|
|
Bank Address :Bhosala Military School |
|
|
Bank A/c. No.:1029525 |
|
|
Account Since :3 Years |
|
|
|
|
|
In case of any affiliations / memberships / certifications : |
|
|
Name :ISO 9001:2000 |
|
|
Type :Quality Mangement |
|
|
Expiry Date :9910003546 Date Issue :11.02.2008 Date Expiry :10.02.2011 |
|
Trade Reference
- Reliance India Limited
- Bosch
As Per Websites
Subject is a well acknowledged company in manufacture of dosing pumps and dosing systems for variety of applications such as Gas, oil, Chemical and Pharmaceutical production processes, Water and Waste water treatment plants, Sewage Treatment Plants. With its network spread across the country and also in Asian and European countries, it is catering to the needs of its customers with expertise, enthusiasm and effectively. The highly proficient products of Positive are simple and easy to use and the systems are tailor made to suit customer need.
As an international service provider, they offer a system of customized and comprehensive services besides tailored solutions for the conveying problem. In the journey so far Positive has earned name, fame and importantly the trust in the market.
Applications
- Power,
- Chemical,
- Petrochemical,
- Paper and pulp
- Fertilizers,
- Cosmetics,
- Food,
- Pharmaceuticals,
- Sugar
- Oil and gas,
- Diary,
- Steel Plants,
- Textile.
4
DOSING PUMP TESTING FACILITY AT PMPIL
Testing area at
PMPIL consist of inbuilt facilities like
Suction tank size 5.5 M3
Testing board with Watt Meter, Ammeter and Voltammeter
Pulsation dampner, pressure gauge, measuring pots, calibrated
stopwatches,
tachometer, d b meter and vibration meter.
Procedure for
performance test
Note:- All tests are
carried out as per API 675 standard.
Pump flow rate
with working pressure
Hydro testing.
Noise level
Vibration of pump and motor.
Testing Procedure
Drive end is tested for 24 HRS. without load
Total assembly consisting of drive end and liquid end are tested as
per API 675.
Flow repeatability and linearity are carried out at 100 %, 75 %, 50 %,
25 % rated capacity within tolerance of
3 %.
Features
At a time 4 pumps can be tested.
Pumps up to 10 HP power requirement and maximum 400 Bar can be tested.
Pump performance test are carried out with negative suction head
approximately 1.5 m.
The measuring instruments on the test bench are duly calibrated with
pre-determined
frequency.
Good qualities of strainers, pipes and pipefitting are used for
testing.
INSPECTION
FACILITIES
Highly sophisticated test bench for the volumetric calibration of
Dosing Pump equipped with calibration pots, timers, pressure indicator.
Control Panel to measure the power drawn by the pump and stirrer
motor.
db meter, vibration meter to measure noise level and vibrations in the
rotating equipment.
Vernier, micrometer, height gauge for length and distance
Measurements.
Motorized hydrostatic pressure testing pumps for piping and pump
Wetted parts.
7
VENDOR EVALUATION
Vendors are classified in two categories
- Traders
- Manufacturers
Traders
Raw material like SS, MS, CI, Motors, Hardware, Stationary and Machinery parts like
keys, coupling, etc. are procured from traders on regular
basis.
QC check
- Material like SS is confirmed on the basis of Mill Test certificate provided by traders at the time of dispatch and chemical analysis of all the material is carried out before taking to production.
- Material is cleared to store department after receiving QA report of material.
- Motors are received with electrical data sheet provided by manufacturer. RPM current, voltage and power factor of motor are crosschecked by in-house testing facility.
Performance
Evaluation
Traders are evaluated after every 6 months on the basis of
general trader evaluation report.
Manufacturers
QC check
- Manufacturers are provided with drawing and instruction, which is monitored by QC Engineer.
- Manufacturers are strictly bound to use calibrated instruments, which are continuously monitored.
- Manufacturers are required to provide dimensional report of the component at the time of dispatch.
- Sampling
inspection is carried out by QC engineer
LIST OF MACHINES.
Welding Rectifier
400 amp capacity
Warp make installed
in the year 2000.
Pillar Drilling
Machine 40 mm capacity
Samrat make
installed in the year 1996.
Hand tool power
hacksaw.
Geared Lathe - 195
mm center height with 1500 mm admit between centers Turner make installed in
the year 2001.
NOTE:- Most of the
components required for pumps and Dosing Systems are machined ,
manufactured at
their ancillary units. No machinery takes place in-house.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.86 |
|
UK Pound |
1 |
Rs.84.22 |
|
Euro |
1 |
Rs.65.51 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
37 |
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
|
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 |
|