MIRA
INFORM REPORT
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Report Date : |
22.10.2008 |
IDENTIFICATION DETAILS
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Name : |
WATER TREATMENT EQUIPMENTS |
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Registered Office : |
26/6, Gururaj Housing Society, Apte Colony, Bhosari, Pune – 411 039, |
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Country : |
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Financials (as on) : |
31.03.2008 (Estimated) |
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Year of Establishment : |
2005 |
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PAN No.: [Permanent
Account No.] |
AAAFW8485H |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of gamut
of Precision Engineered Water Treatment and Filtration Systems |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 3000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established concern having satisfactory track
records. Trade relations are fair. Payments are usually correct and as per
commitments. Nothing adverse reported. The concern can be considered normal business dealings at usual trade
terms and conditions. |
INFORMATION PARTED BY
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Name : |
Mr. Ravi Kulkarni |
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Designation : |
Accountant |
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Date : |
20.10.2008 |
LOCATIONS
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Registered Office / Factory : |
26/6, Gururaj Housing Society, Apte Colony, Bhosari, Pune – 411 039,
Maharashtra, India |
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Tel. No.: |
91-20-27122852 |
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Mobile No.: |
91-9372701801 (Mr. Ashok Kulkarni) |
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Fax No.: |
91-20-27119244 |
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E-Mail : |
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Website : |
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Area : |
1500 Sq.fts |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Ashok Kulkarni |
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Designation : |
Proprietor |
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Date of Birth/Age : |
46 years |
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Qualification : |
Graduate (Engineering) |
KEY EXECUTIVES
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Name : |
Mr. Ravi Kulkarni |
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Designation : |
Accountant |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of gamut
of Precision Engineered Water Treatment and Filtration Systems |
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Products : |
·
Clarifiers · Pressure Filters · Water Softners · Demineralisation Plant · Chemical Dosing System · Reverse Osmosis Systems · Sewage Treatment Plants · Effluent Treatment Plants · Water Treatment Plants and Components |
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Terms : |
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Selling : |
Credit (30 days) |
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Purchasing : |
Credit (30 days) |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers |
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No. of Employees : |
12 |
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Bankers : |
Ruby Co-op Bank limited,
Bhosari, Pune, Maharashtra, India |
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Facilities : |
The concern do not enjoy facility from its bankers. |
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Banking
Relations : |
---- |
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Auditors : |
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Name : |
Mr. B Y Mohit Chartered Accountants |
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Address : |
Bhosari, Pune, Maharashtra, India |
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 0.500 million (Estimated) |
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Borrowed : |
--- |
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Total : |
Rs. 0.500 million (Estimated) |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2008 (Estimated) |
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Sales Turnover |
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7.000 |
Expected Sales (2008-09): Rs. 14.000 millions
LOCAL AGENCY FURTHER INFORMATION
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Additional
Requirement of Indiamart for Trust-Seal |
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TIN : 27560625581 V (w.e.f
: 05/09/2007) |
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PAN / TAN : AAAFW8485H |
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Bank Name : Ruby Co-op Bank limited |
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Bank Address : Bhosari Branch, Pune, Maharashtra, India |
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Bank A/c. No.:3465 |
TRADE REFERENCES:-
· Finolex Cables Limited, Pune
· Secotools India Private Limited, Pune
· Ugar Sugar, Karnataka
· Kalyani Lemmerz Limited, Pune
WEBSITE DETAILS:-
Concern Profile:-
Incepted in the year 2005, W. T.
S. Sales and Services is a prominent concern involved in manufacturing
and supplying a wide gamut of precision engineered water treatment and
filtration systems. Under the able guidance of their mentor Mr. Ashok Kulkarni, they have carved a
niche in the water treatment industry. Backed by his vast experience and
business acumen they have carved a niche in the water treatment industry.
They are well-equipped with all latest machinery in their integrated
manufacturing plant to meet the quality standards and ever-increasing demand.
Their team of experienced professionals has adequate knowledge and experience
of designing and manufacturing of water treatment plants and leaves no stone
unturned to offer customized range to their clients.
Their entire spectrum of water treatment plants are fabricated and thoroughly
tested so that they conform to various international standards. Their widely
acclaimed plants are extensively used in diverse industries and also hold
requisite proficiency to offer them in customized designs in strict accordance
with the requirements of their clients.
Product Portfolio
They manufacture and supply a wide range of premium quality
water treatment and filtration systems that find extensive usage in host of
industries. Their entire gamut is fabricated using qualitative mild steel, stainless steel, polypropylene
sourced from verified vendors. Their range of water treatment plants are
categorized as pressure filters, clarifiers,
water treatment components, effluent treatment plant, sewage treatment plant,
Water Softeners, chemical dosing system, demineralization plant and reverse
osmosis plant.
The pressure filters comprises of pressure sand filter, activated carbon filter,
iron removal filter and cartridge filters. In the range of clarifiers they
offer lamella plate clarifier, tube settler and HRSCC. Their effluent treatment
plant comprises swimming pool filtration plant and UV plant. In chemical dosing
systems they offer chemical dosing pumps.
Their range is preferred for the following features:
· Durable
· Sturdy and heavy duty
· High performance
· Excellent bonding
· Efficient
In addition they also manufacture mixed bed unit. Further, their entire range is available in industry specific standards and can be customized to meet the varied application demands of their clients.
Application Areas
They offer wide assortment of water treatment and filtration systems that are renowned for their quality, longer service life and efficient performance. These attributes make them utilizable in various industries all over. Some of the areas where these plants are used are as follows:
· Hotels
· Manufacturing units
· Process Industry
· Chemical,
· Mechanical
· Hospital
· Schools
· Colleges
· Residential Complexes
· Medical
· Pharmacology
Infrastructure
They have developed infrastructure in Pune, Maharashtra, where they use
of cutting edge technology to manufacture their gamut of water treatment plants
as per the requirement of their clients. Their manufacturing unit is spread
over a sprawling area of 1500 sq. ft. with adequate production capacity. The
unit is divided into different units such as procurement, designing, production
and others for achieving an effective production process to meet the
requirement at stipulated time frame. All the units are facilitated with
sophisticated machines that are required for the successful production of
desired range. Some of the machines installed in their manufacturing unit are
as follows:
· Bending machine
· Welding machine
· Milling machine
· Cutting machine
Their organization also encloses an in house design unit for continuous
enhancement of the designs.
Team
Considering their organization as a family, they set an example of a
healthy working environment. They have experienced engineers, technicians and
other personnel whose requisite experience, expertise and hard work helps in
manufacturing the water treatment plants effectively and efficiently.
Their quality analysts undertake inspection of the whole process and
stringently monitor every step of production to see whether their range of
water treatment plants conform to the industry standard. Understanding the
responsibility of offering an flawless range, these quality analysts make
genuine effort assuring that only high performing water treatment plants
reaches the market.
The team of sales and marketing is well versed with market dynamics and caters
to various product related queries of their clients.
Further, to enhance the efficiency of their employees and keep them abreast
with the latest developments they conduct various seminars and training
sessions.
Quality Assurance
Being totally devoted towards quality of their water treatment and filtration
systems, they accomplish their quality objectives through a process of
continuous improvements in all areas of operations. Their experts in quality
control department continuously conduct laboratory tests that include hydro
test and others to take care that their entire range is manufactured
maintaining international standards. Their focus also remains in ensuring that
the manufactured range is as per drawings and specifications provided by
clients.
Their products are verified by subjecting them to following
parameters:
· Corrosion resistance
· Abrasion resistance
· Chemical resistance
· Performance
Research and Development
They have a developed Research and development department for helping
them in providing efficient solution for water borne problems and support the
concept of water conservation during optimum utilization and recycling of
water. Their R and D professional keep them abreast with the latest
technological advances and help them in providing new solutions that deal in
development activities related to corrosion, water management and other
associated industrial problems.
Clientele
As a client centric organization they aim at offering qualitative
services to their esteemed clients. They are supported by their robust and well
built infrastructure owing to which they have attained a remarkable position in
the competitive market. They customize their range as per client’s hope and
make full efforts in solving their problems. They always try to offer best
range to their quality conscious clients that are spread across the globe.
Some of their major clients are as follows:
· Finolex Cables Limited, Pune
· Secotools India Private Limited, Pune
· Ugar sugar, Karnataka
· Kalyani Lemmerz Limited, Pune
· Fiat Auto Limited, Pune
· Intech Surface Coating (P) Limited, Pune
· Smt Kashibhai Navale Hospital Pune
· Life Line Industries Limited, Solapur
· Mount Vert Group, Pune
· Koeal Ganga Group, Pune
· Symbiosis Co-Op Pharmaceutical, Sangli
· Deepak Foods, Jalgoan
· Maharashtra Oil, Dhule
· Rajarambapu Patil S. S. K. Limited , Islampur
· Balzer India, Delhi
· Walchandannagar Foundry Division, Satara Road
· B. U. Bhandari Landmark, Kharadi
· Indrayani Ferrocast Limited , Alandi
· Malu Paper Mills Limited , Nagpur
· Sunshield Chemicals Limited , Patil
· Statfield Equipment Limited , Kolhapur
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] 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 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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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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
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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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