MIRA
INFORM REPORT
|
Report Date : |
22.10.2008 |
IDENTIFICATION DETAILS
|
Name : |
AVTAR FOUNDARY AND WORKSHOP |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2008 |
|
|
|
|
Year of Establishment : |
1965 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
PTLA11489C |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AACFA2341J |
|
|
|
|
Legal Form : |
Partnership concern with an unlimited liability of the partners. |
|
|
|
|
Line of Business : |
Manufacturers and Exporters of Steels Bars, Flats and other Rolling
Mills AND Gearing Coupling etc. Machines Equipment. |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
|
|
|
|
|
Maximum Credit Limit : |
USD 40000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well – established and reputed concern having
satisfactory track. Partners are reported as experienced and respectable
businessman. Trade relations are reported as fair. Business is active.
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
|
Name : |
Mr. Anwar |
|
Designation : |
Accountant Department |
|
Date : |
20.10.2008 |
LOCATIONS
|
Registered Office/Factory : |
GT Road, Near Red Light Chowk, Gobindgarh – 147 301, Punjab, India |
|
Tel. No.: |
91-1765-255838 / 241217 / 241218/258408 |
|
Mobile No: |
91-9814036118 ( Mr. Manjeet ) |
|
Fax No.: |
91-1765 -255171 |
|
E-Mail : |
|
|
Websites: |
|
|
Area : |
3 Acres |
|
Location : |
Owned |
PARTNERS
|
Name : |
Mr. Manjeet Singh |
|
Designation : |
Partner |
|
Address : |
Godbindgarh |
|
Date of Birth/Age : |
38 Years |
|
Qualification : |
Graduate |
|
Experience : |
28 Years |
|
|
|
|
Name : |
Mr. Tajinder Singh |
|
Designation : |
Partner |
|
Address : |
Godbindgarh |
|
Date of Birth/Age : |
33 Years |
|
Qualification : |
Graduate |
|
Experience : |
22 Years |
|
|
|
|
Name : |
Mr. Gurumukh Singh |
|
Designation : |
Partner |
|
Address : |
Godbindgarh |
|
Date of Birth/Age : |
60 Years |
|
Qualification : |
Under Graduate |
|
Experience : |
40 Years |
|
|
|
|
Name : |
Mr. Harpreet Singh |
|
Designation : |
Partner |
|
Date of Birth/Age : |
36 Years |
|
|
|
|
Name : |
Mr. R P Singh |
|
Designation : |
Partner |
|
Date of Birth/Age : |
34 Years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporters of Steels Bars, Flats and other Rolling
Mills AND Gearing Coupling etc. Machines Equipment. |
|
|
|
|
Exports : |
|
|
Products : |
·
Steel Bars, ·
Flats ·
Wire Rod mill ·
Section Rolling mill ·
Mill Stands ·
Pinion Stands ·
Reduction gear box ·
Gear Coupling ·
Tilting tables/Roller /Table/Automation
equipment. ·
Shearing Machines ·
Hot Saws ·
Spindle and Coupling ·
EOT Cranes. |
|
Countries : |
·
Western Europe, ·
Kenya, ·
Egypt, ·
Dubai, ·
South African Countries like Zimbabve, Nairobi,
etc. |
|
|
|
|
Imports : |
|
|
Products : |
Machinery |
|
Countries : |
·
Canada, ·
Toronto, ·
U.S.A ·
England |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash,Credit (30 days) |
|
|
|
|
Purchasing : |
L/C, Cash, Credit (30 days) |
GENERAL INFORMATION
|
Customers : |
Local and Foreigners, Retailers, End Users, Manufacturer o
Krishana Steel o
Eagle Steels o
Nav Bharat Steel o
Mahavir Steel Industries Limited o
Steel Rolling Mill o
Talent Steel Industries o
Umargam Metal Rolling Mills o
Rai Metal Works o
O.P.T.Rolling Mills o
Thane Steel Private Limited o
Saharash Aluminium Private Limited o
Santosh Steel Rolling Mills o
Vaishnav Ispat Private Limited o
Ban Bro Metals Private Limited o
Raj Re-Rolls Private Limited o
Trident Steel Limited o
Bhushan Industries (P) Limited o
Mahalaxi Steel Inds., o
Kakkar Utensils, o
Perry Egg. and Electronotics o
Goa Steel Rolling Mills Limited o
Ahmedabad Steel Craft Limited, o
Aravali Forging Limited o
South India Steel o
Vishal Rolling Mills (P) Limited o
Punjab Con-Cast Steel Limited o
Shattaf Anand Steel Rolling o
Nepal Steels Limited o
Bhagwati Rolling Mills o
M.R.B. Steel Industries, o
Ghaziabad Ispat Udyog o
B.C.L. Forgings Limited o
The Madras Motors Limited o
Ajay Forgings Private Limited o
Auto Forge Private Limited o
Norma Steel and Alloyz Limited o
Ntm Industries (India) P. Limited o
Gauri Shankar Rolling Mills o
Aar Kay Con-Cast Limited, o
Vandana Ispat Private Limited o
Sharu Steel Limited o
Shree Krishna Rolling Mills o
Maharashtra Steel Rolling |
|
|
|
|
Products: |
·
Pinion Gear Box ·
Reduction Gear Box ·
Shearing Machines ·
Rolling Mill Stand ·
Gear Coupling (Flexible) ·
Wire Rod Mill |
|
|
|
|
No. of Employees : |
100 |
|
|
|
|
Bankers : |
·
Punjab and Sindh Bank
Address; Gobindgarh ·
Punjab National Bank
Address: Gobindgarh |
|
Facilities: |
CC Rs.4.000 Millions |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
(Chartered Accountants)
(Chartered
Accountants) |
|
Address : |
Gobindgarh |
|
|
|
|
Associates/Subsidiaries : |
·
Avtar Roll Forge
Industries
Address: GT Road, Gobindgarh Tel No: 91-1765-256829 / 250607 Fax No: 91-1765 – 255171 E-Mail: info@avatargroup.com Website: www.avatargroup.com
Activity: Rolling mills ·
Avtar Steel and
Agro Industries
Activity: Agro Products |
|
|
·
|
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 8.000 millions (Estimated) |
|
Borrowed : |
--- |
|
Total : |
Rs. 8.000 millions (Estimated) |
[all figures are
in Rupees Millions]
|
Particulars |
|
|
31.03.2008 |
Expected Sales (2008-09) : Rs.200.000 Millions
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCE:
§
Union Forging Ludhiana
§
Inderjit Forging Limited, Ludhiana
§
Sharu Industries – Ludhiana
§
Shree Vaishnav Industries – Mumbai
§
Thane Steel
§
Satyam Group of Industries.
|
Additional Requirement of Indiamart for
Trust-Seal |
|
|
|
|
|
VAT / TIN : 03461085909 |
|
|
IEC Code : 3093008271 |
|
|
|
|
|
PAN / TAN : AACFA2341J |
|
|
|
|
|
Bank Name : Punjab and Sindh Bank |
|
|
Bank Address : Mandi, Gobindgarh |
|
|
Bank A/c. No.: CC-189 |
|
|
|
|
|
In case of any affiliations / memberships / certifications : |
|
|
Name : ISO 9001:2000 |
|
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.48.83 |
|
UK Pound |
1 |
Rs.85.12 |
|
Euro |
1 |
Rs.65.86 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
63 |
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 |
|