MIRA INFORM REPORT

 

 

 

Report Date :

20.10.2008

 

IDENTIFICATION DETAILS

 

Name :

AC TECH CONTROL SYSTEMS

 

 

Registered Office :

B – 22, 1st Floor, Meldy Estate, Near Gota Railway Crossing, Gota Ahmedabad – 380 013, Gujarat

 

 

Country :

India

 

 

Financials (as on) :

31.03.2008

 

 

Year of Establishment :

2005

 

 

IEC No.:

0805004165

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

AHMA05987C

 

 

PAN No.:

[Permanent Account No.]

AALFA5197P

 

 

Legal Form :

A Partnership concern with an unlimited liability of the partner

 

 

Line of Business :

Manufacturer and Distributor of Automation Products.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 20000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well established concern having satisfactory track. Trade relations are fair. Payments are usually correct and as per commitments. Nothing adverse reported.

 

The concern can be considered normal for business dealings at usual trade terms and conditions.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Kirit Patel

Designation :

Partner

Contact No.:

91-9327179822

Date :

17.10.2008

 

 

LOCATIONS

 

Registered Office/ Factory :

B – 22, 1st Floor, Meldy Estate, Near Gota Railway Crossing, Gota Ahmedabad – 380 013, Gujrat, India

Tel. No.:

91-2717-241136

Mobile No.:

91-9327179822 (Mr. Kirit Patel)/ 9328279320

Fax No.:

91-2717-241137

E-Mail :

sales@actech_drives.com

Website :

www.actech_drives.com

Area :

4000 sq ft

Location :

Rented

 

 

PARTNERS

 

Name :

Mr. Kirit Patel

Designation :

Partner

Date of Birth/Age :

30 Years

Qualification :

Power Electronic

 

 

Name :

Mr. Bhavesh Patel

Designation :

Partner

Address :

E – 17, Navaratna Avenue, Sola Crossing, Ahmedabad – 380 061

Date of Birth/Age :

34 Years

Qualification :

B. E Electronic

Mobile No.:

91-9825012665

 

 

Name :

Mrs. Rupalben Patel

Designation :

Partner

Address :

Near Bus Stop, Valam Visnagar, Mehsana – 384 003

Tele No.:

91-2765-264312

 

 

Name :

Mrs. Narmadaben Patel

Designation :

Partner

Address :

39 Raghukul Bunglows, Sola Bridge, Ahmedabad – 380 054

Mobile No.:

91-9825097609

 

 

Name :

Mrs. Sutariya Dhartiben

Designation :

Partner

Address :

D-102, Harivilla Apartments.Sola, Ahmedabad – 380 061

Mobile No.:

91-9426179822

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Distributor of Automation Products.

 

 

Products :
  • Variable Frequency Drives
  • Brushless DC Motor with DC Driver                                             
  • Brushless IMP Motors and Drives
  • Vector Investors
  • Higher HP Investor
  • Commercial Power Inverter
  • IMP Inverter
  • G3 Series Inverter

 

 

Imports :

 

Products :

Components and Spares

Countries :

China

 

 

Terms :

 

Selling :

Cash (Depends)

 

 

Purchasing :

L/C (60 days) T/T

 

 

GENERAL INFORMATION

 

Customers :
  • End Users
  • OEM’s
  • Small and Middle Customer

 

 

No. of Employees :

25

 

 

Bankers :
  • HDFC Bank, Ahmedabad
  • ICICI Bank, Ahmedabad
  • Axis Bank, Vastrapur Talav, Ahmedabad

 

 

Facilities :

Cash and Credit Rs.5.000 Millions/ L/C Rs.5.000 Millions

 

 

 

Banking Relations :

Satisfactory

 

 

Auditors :

 

Name :

Jani and Company

Chartered Accountant

Address :

Ahamedabad

 

 

CAPITAL STRUCTURE

 

 

Capital Investment :

 

Owned :

Rs.4.000 Millions (Estimate)

Borrowed :

--

Total :

Rs.4.000 Millions (Estimate)

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

 

 

31.03.2008

Sales Turnover

 

 

40.000

 

Expected Sales (2008-09) : Rs.50.000 Millions

 

 

LOCAL AGENCY FURTHER INFORMATION

 

                                            Additional Requirement of Indiamart for Trust-Seal

 

 

Service Tax No. :

 

Excise Registration No.:AALFA5197P PXM001

 

VAT / TIN :24074203022

 

IEC Code :0805004165

 

 

 

PAN / TAN :AALFA5197P

 

 

 

Bank Name :ICICI Bank

 

Bank Address :Ahmedabad

 

Bank A/c. No.:006405003095

 

Account Since :4 years

 

 

No ISO Certification

 

Trade Reference

 

As Per Websites

 

Established in the year 1997, they are one of the professionally managed organizations, engaged in manufacture and export of a technically advanced range of industrial automation products. Their range incorporates products such as vector inverters, variable frequency drives, brush less Dc motors with AC drives, AC drives, brush less IPM motor and drives, brush less DC motor and drives, vector series and series inverter.


Standing on the strong foundation of business ethics and transparency, they have carved a niche for their selves in the industry. In the pursuit of excellence, they ensure that all their endeavors are directed towards maintaining the high quality and performance of their range of products so as to offer their clients complete satisfaction. Their indelible efforts towards the quality guide them through the thick and thin of their business. Meeting with client's requirements within specified frame of time further enables them in making one of the preferred names for their range of industrial automation products.

 

 

Vision

 

“Chasing the best quality, innovating skills constantly, providing service immediately and creating a win-win condition with clients.”

Their

Products Range of Products

           

With high technical competence, they can design superior products and are dedicated towards ongoing improvement in offering solutions as per the requirements of the industries. Their large range comprises of vector inverters, variable frequency drives, brush less DC motors with Ac drives, AC drives, brush less IPM motor and drives, brush less DC motor and drives, vector series and series inverter.


Features:

Some of the features which makes it one of the preferred choices amongst their clients are-

 



Application Areas:


Their range find its application in some of the under mentioned industries like-

 

 

Infrastructure and Team

 

 

They have a profound infrastructure, which aids in the manufacture of a technically advance range of industrial automation systems. Equipped with latest manufacturing facilities and incorporating the sophisticated technology, they ensure to offer their clients with a superior grade of industrial automation products, which stands high on efficiency and performance front.


They have a team of professionally qualified personnel, who have industry expertise in handling the business efficiently. Also it is well updated with the recent changes via regular training programs to facilitate the adoption of newer technology and process in the product development.           

 

Quality Assurance       

 

They are a quality conscious organization, which is committed to offer qualitative range to their clients spread all across the globe. The stringent quality checks of their range starts form the procurement of raw materials and goes till the time the product is finally installed at the final destination. Their quality control lab ensures that all the efforts are laid towards the maintenance of higher standards of quality in their range of products. Some of the parameters, on which the quality is stringently monitored, are:

 

Research and Development   

 

 

Research and development is one of the important activities at their organization, which is undertaken to upgrade and modify the existing range. Their RandD wing is headed by their team of RandD experts, who are one the continual search to find innovative technology to upgrade their line products. Further, their existing approach towards the research and development has enabled them in bringing products with technological up gradation to cater the requirements of national as well as international clients.           

 

Sales and Service Network

 

 

They have their branch offices spread all throughout the country in various parts to facilitate any query regarding the products. Their branch offices are in the cities like-

 

 

Covering major locations in India, their dealership network is widespread across the cities of-

 

·         Bangalore

·         Chennai

·         Ludhiana

·         Hyderabad

·         Kolkata

·         Kanpur

·         Pune

·         Rajkot

·         Baroda

·         Coimbatore

·         Indore.       

 

Customer Satisfaction

 

Through their wide range of industrial automation products, they have been able to cater the requirements of diverse industries at industry leading prices. Their efficient product range and reliable services have earned them accolades from their clients spread all across the globe. They believe in rendering their customers with superior services with in stipulated frame of time.

 

                                                                                                                                          

 

 

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

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.48.68

UK Pound

1

Rs.84.37

Euro

1

Rs.65.70

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--MARGINS

-5~5

-

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--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

 

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

 

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

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions