MIRA
INFORM REPORT
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Report Date : |
22.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
MICRON GRINDERS India |
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Registered Office : |
12263, Street No. 21, Ram Nagar, Behind Sangeet Cinema, Ludhiana – 141
003, Punjab |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1993 |
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IEC No.: |
*3006000650 |
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PAN No.: [Permanent
Account No.] |
AJLP50457M |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Cylindrical Grinding Machines. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 2000 |
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Status : |
Small Concern |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a small concern having moderate track. Trade relations are
fair. No payments records and banking relations are known. The concern can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Balbir Singh |
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Designation : |
Proprietor cum Chief Executive Officer |
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Date : |
21.10.2008 |
LOCATIONS
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Registered Office/ Factory : |
12263, Street No. 21, Ram Nagar, Behind Sangeet Cinema, Ludhiana – 141
003, Punjab, India |
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Tel. No.: |
91-161-2544586 |
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Mobile No.: |
91-9888626220 |
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Fax No.: |
91-161-5027586 |
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E-Mail : |
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Websites : |
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Area : |
300 Sq.Mtrs |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Balbir Singh |
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Designation : |
Proprietor cum Chief Executive Officer |
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Age : |
55 years |
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Qualification : |
Graduate |
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Experience : |
32 years |
KEY EXECUTIVES
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Name : |
Mr. Vikram Singh |
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Designation : |
Chief Executive Officer |
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Age : |
29 years |
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Experience : |
7 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Cylindrical Grinding Machines. |
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Products : |
· Centerless Grinding Machines · Cylindrical Grinding Machines. |
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Exports : |
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Products : |
Centerless Grinding Machines, Cylindrical Grinding Machines. |
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Countries : |
Asian Countries |
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Terms : |
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Selling : |
LC, Cash, Credit |
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Purchasing : |
Cash, Credit |
PRODUCTION STATUS
Capacity to increase production by 50%
GENERAL
INFORMATION
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Suppliers : |
Own Manufacturing |
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No. of Employees : |
15 |
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Bankers : |
Punjab National Bank, Ludhiana, Punjab, India |
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Banking
Relations : |
Unknown |
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 0.400 million |
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Borrowed : |
--- |
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Total : |
Rs. 0.400 million |
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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4.500 |
3.800 |
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Profit/Loss for the year |
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12% |
12% |
Expected Sales (2008-09): Rs. 6.000 millions
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Detail |
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Existence Verification |
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Name |
MICRON GRINDERS
India |
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Address |
12263, Street No. 21, Ram Nagar, Behind Sangeet Cinema, Ludhiana – 141
003, Punjab, India |
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Phone Numbers |
91-161-2544586 |
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Fax Number |
91-161-5027586 |
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Statutory Approvals |
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Legal Status of Firm |
Proprietorship firm |
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Income Tax Registration |
AJLP50457M |
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VAT / TIN Registration |
*03701081606 |
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Import Export Code |
*3006000650 |
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Name of Bank |
Punjab National Bank, Ludhiana, Punjab,
India |
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Creditability Factors |
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Years of Establishment |
1993 |
WEBSITE DETAILS:-
Subject is a
prominent name among manufacturers and exporters of high quality centerless
grinding machines and cylindrical grinding machines. With more than 15 years of
experience and sophisticated manufacturing capabilities, they are capable to
deliver their customers with international quality grinding machines for both
feed and infeed grinding.
Ever since inception, they have consistently progressed and upgraded the range
and quality of their products depending on the need of their customers. They
are a customer oriented concern and believe in offering maximum customer
satisfaction laying complete focus on quality, innovativeness, timely
deliveries, competitive pricing, customization and effective after sales
services.
Product
Information
Their products
include high quality centerless grinding and cylindrical grinding machines.
These machines have been designed giving special attention to features such as
- higher rigidity, heavy graded
casting, dressing slides, spindles, worms, hardened and ground lead screws,
flow of coolant and cleanliness of machines.
They accept orders from clients in bulk as well as economic order quantities
(EOQ). As a rule, the quality and level of service always remains the same,
without being affected by the specification and size of order required.
At the concern they
have never compromised on quality and lay emphasis on the in-house processing
to ensure quality of products. To ensure high performance and defect-free
grinding machines, precision centerless grinding machine, they have installed
latest machines and technology to produce products matching world standards.
They have precision lathes, milling and grinding machines, boring and drilling
machines, slideway grinders and thread grinders to produce products that can
fulfill different needs and requirements of their clients.
Workforce
Another major asset
to their manufacturing set up is their team of skilled technicians and
professionals. While assembling the centerless grinding and cylindrical
grinding machines, the team ensure precision and quality of each and every
product and component. All of their products undergo stringent quality
inspection tests conducted by skilled engineers before it is rolled out of
factory for final delivery. In addition the concern also have a good network of
after-sales service personnels for the effectiveness of after-sales support.
The proof of their
abilities and reliability is reflected in their clientèle, which include
customers from domestic as well as international markets. They take pride in
having some of the most reputed corporate names as their clients and believe in
forming long lasting strategic relationships with them. From the smallest
concern to the largest, their expertise, talents and level of service always
remains the same.
Customer
Orientation
Micron Grinders
works with a customer oriented approach and always think highly of its
customers. They are fully aware of the needs and desires of their clients and
try to make the process of doing business with us easier and convenient. The
team is highly dedicated towards producing products of high quality at
competitive prices, timely deliveries, customization and efficient after sales
services. Most of their clients are doing business with us since their
inception, which indicates higher levels of customer satisfaction.
Quality is not just
the buzzword in their organization, but it is a crucial aspect that well
defines their working procedures. To achieve best quality in their grinding
machines, and to make it suitable for both feed and infeed grinding; different
quality parameters are adopted in their unit. Right from selecting the right
grade of stainless steel and other material of construction, proper care is
taken to ensure high quality centerless grinding machines and cylindrical
grinding machines are delivered to their valued clients.
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.48.83 |
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UK Pound |
1 |
Rs.85.12 |
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Euro |
1 |
Rs.65.86 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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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29 |
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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