MIRA
INFORM REPORT
|
Report Date : |
20.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ISC MACHINES – DIVISION OF SINBRO COMMERCIAL PRIVATE LIMITED |
|
|
|
|
Registered Office : |
127/10/1, Maniktalla Road, Kolkata – 700054, West Bengal |
|
|
|
|
Country : |
India |
|
|
|
|
Date of Incorporation : |
15.07.1993 |
|
|
|
|
Com. Reg. No.: |
21-59457 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U27109WB1993PTC059457 |
|
|
|
|
Legal Form : |
Private Limited Liability Company
|
|
|
|
|
Line of Business : |
Manufacturer, Exporter and Importer of Material Handling Equipments. |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well – established and reputed company meeting its normal
commitments timeously. Trade relations are fair. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
|
Name : |
Mr. Lokendra Singh |
|
Designation : |
Director |
|
Contact No.: |
91-9867709380 |
|
Date : |
17.10.2008 |
LOCATIONS
|
Registered Office / Factory : |
Sinbro Commercial Private Limited, 127/10/1, Maniktalla Main Road,
Kolkata – 700054, West Bengal, India |
|
Tel. No.: |
91-33-23208431 / 8365 |
|
Fax No.: |
91-33-2320 2088 |
|
E-Mail : |
|
|
Websites : |
|
|
|
|
|
Corporate Office : |
ISC Compound, Janata Market, Subhash Road, LBS Marg, Bhandup (West),
Mumbai, Maharashtra, India |
|
Tel. No.: |
91-22-65803945 |
|
Fax No.: |
91-22-25940553 |
|
Mobile : |
91-9867709380 (Mr. Lokendra Singh) |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
100000 Sq.fts |
|
Location : |
Owned |
|
|
|
|
Branches : |
Bangladesh ISC Enterprise (BD)
Limited Tejgaon Industrial Area, Fax : 880 2 9141994 Malaysia ISC Enterprise (M) Sdn
Bhd (687294-U) Site : www.iscindia.com |
DIRECTORS
|
Name : |
Mr. Lokendra Singh |
|
Designation : |
Director |
|
Date of Birth/Age : |
32 years |
|
Qualification : |
Engineer |
|
|
|
|
Name : |
Mrs. S B Singh |
|
Designation : |
Director |
|
Date of Birth/Age : |
55 years |
|
Qualification : |
Graduate |
KEY EXECUTIVES
|
Name : |
Mr. Jitendra Singh |
|
Designation : |
President |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Material Handling Equipments. |
|
|
|
|
Products : |
· Material
Handling Equipments · Elliptical
Electro Magnet · Circular Electro
Magnet · Rectangular
Electro Magnet · Over Band Belt
Type Separator · P M Tramp Iron
Separator · P M Concentrator · Vibratory Feeder · Magnetic Pulley · EOT Cranes · Electric Wire
Rope Hoist · Continuous
Casting Machine (CCM) |
|
|
|
|
Exports : |
|
|
Products : |
Materials Handling Equipments |
|
Countries : |
· Turkey · UAE · Saudi Arabia · Pakistan · Bangladesh · USA · Far east · Cuba · Iran · Europe · Germany |
|
|
|
|
Imports : |
|
|
Products : |
Semi Finished Equipments, Parts Connection |
|
Countries : |
· China · Malaysia |
|
|
|
|
Terms : |
|
|
Selling : |
Cash |
|
|
|
|
Purchasing : |
Cash |
GENERAL INFORMATION
|
Customers : |
Manufacturers, End Users |
|
|
|
|
No. of Employees : |
8 |
|
|
|
|
Bankers : |
· IDBI Bank,
Warden Road Branch · Punjab and
Maharashtra Co-op. Bank Limited, Masjid Bunder · ICICI Bank,
Bhandup (West) |
|
|
|
|
Banking Relations
: |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Jai puriar and
Associates Chartered Accountant |
|
Address 1 : |
Masjid Bunder, Mumbai, India |
|
Address 2 : |
Bhandup (West), Maharashtra, India |
|
|
|
|
Associates/Subsidiaries : |
Goldwin Tracon
Private Limited ISC Compound, Subhash Road, LBS Marg, Bhandup (West), Mumbai,
Maharashtra, India (Manufacturer, Exporter and Importer of Material Handling Equipments) |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.500 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs. 10/-
each |
Rs. 2.500
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
|
31.03.2008 (Estimated) |
|
|
|
|
|
|
Sales Turnover |
|
|
78.000 |
Expected Sales (2008-09): Rs.150.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference:
· Electro Therm Limited, Gujarat
· Gardian Steels
· Alok Inguts
· Rishad Casting
· Siddhi Vinayak Steels
WEBSITE DETAILS:-
Company Profile
ISC Lifting Magnets
are highly effective for handling iron and steel in diversified forms. Ports,
Steel industries and Scrap yards use these magnets extensively to lift
scrap, ingots, rails, beams, plates, coils etc. ISC Lifting Magnets have always
proved their worth by saving labour, increasing productivity, shortening
handling time.
The design and
manufacture of each ISC Lifting Magnet is the result of continuous effort from
the ISC Family. Starting as a scrap trading concern in 1940 this group has
grown into web of companies manufacturing engineering products for various
industrial sectors. For over 30 years the ISC Family has used and studied
magnets of diverse sizes, makes and types in their own steel plants and scrap
yards. Result – The ISC Lifting Magnets – an extremely user-friendly product
from the point of operation, maintenance and repair along with protective measures
to prevent breakdown.
Corporate
They have grown
up with the post-war development of iron and steel industries in India. The
ever-increasing business has founded on dependable and fair deal.
This is the ISC in
the Nation’s surging economy and in the service of their overseas’ customers
whose continued patronage has added to the present achievement.
It has always been
their motto and principle to serve their esteemed buyers in the best possible
way. To serve the customers of the SAARC and ASEAN better they have established
their bases in Dhaka and Kualalumpur where they are assured of their best
services.
They have been in
business since 1941 and every year makes them younger.
Private ownership
Private
ownership allows ISC to remain free. The nature of freedom demands that it be
used responsibly by associates and units alike. Their way of doing business
allows them to remain free as a company and gives associates as individuals the
freedom to innovate, act and grow while achieving their common goals. This
creates the kind of environment in which they are all excited to work. Their
private ownership, unanimity of purpose and high ethical standards allow them
to move quickly in exploring new ground, act boldly in the face of competition,
and take risks wherever they are justified. Above all, their private ownership
gives them the freedom to take a long-term perspective on making investments,
building businesses and providing for the well-being of their associates. This
spirit has driven ISC in the past. It remains for each of them to make it the
guiding force for their future.
TRADING
|
STEEL |
|
|
1. Equipment - |
· Induction Furnaces, · Used Arc Furnaces, · Ladle Furnaces, · Re-rolling Mills, · Sponge Iron Making Plants, · Weighing Scales, · Cooling Towers, · Water Treatment Plant, · Electrical Sub-Station, etc. |
|
|
|
|
2. Consumables - |
· Ferro Alloys, · Ramming Mass and Refractories, · Cast Iron Ingot Moulds, · Zircon Tundish Nozzles, · Slide Gate Mechanism and Refractories, · Temperature Measuring tips, · Laboratory Chemicals, |
|
|
|
|
3. Finished
Products - |
· Billets, · Rounds, · Wire Rods, etc. |
|
|
|
|
4. They are the sole selling
agents for "Vesuvius" Products in SAARC countries. These refractories
are made to International Standard. |
|
|
Pet
Products |
|
|
1. Dog Food - |
They stock and
sell Pedigree Dog Food and Whiskas Cat Food for Bangladesh. |
|
|
|
|
2. Dog Product - |
Chain, Leash, Bell,
Comb, Brushes etc are sold and distributed in Bangladesh. |
|
|
|
|
Engineering
Items |
|
|
"Roto"
screw pumps and spares are sold by them in Bangladesh "Yesha"
capacitors which are used in induction furnaces, power factor correction in industrial
substations are sold and serviced by them in Bangladesh. |
|
|
|
|
|
Comfort
Items |
|
|
"Kurlon"
Indias largest selling mattresses, rubberized coir products which are made
available in Bangladesh and Myanmar. They plan to set
up a "Kurlon" assisted manufacturing unit in Bangladesh. |
|
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.42.67 |
|
UK Pound |
1 |
Rs.83.41 |
|
Euro |
1 |
Rs.66.39 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--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 |
|