MIRA
INFORM REPORT
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Report Date : |
23.10.2008 |
IDENTIFICATION DETAILS
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Name : |
SACHIDANAND MACHINERY |
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Registered Office : |
Plot 4, GIDC, Sihor, |
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Country : |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1998 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of Rolling Mill and Agricultural Machinery |
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 50000 |
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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 well established family owned concern. Trade relations are
fair. 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
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Name : |
Mr. Dhirubhai Goswami |
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Designation : |
Proprietor |
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Contact No.: |
91-9825218267 |
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Date : |
22.10.2008 |
LOCATIONS
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Registered Office : |
Plot 4, GIDC, Sihor, |
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Tel. No.: |
91-2846-225777 |
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Mobile No.: |
91-9825218267/ 9898979922 |
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Fax No.: |
91-2846-225777 |
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E-Mail : |
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Website : |
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Area : |
150 sq.ft (Owned) |
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Factory : |
Plot No. 2, GIDC, Sihor, Bhavnar-364240, |
SOLE PROPRIETOR
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Name : |
Mr. Dhirubhai Goswami |
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Designation : |
Proprietor |
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Date of Birth/Age : |
48 Years |
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Qualification : |
SSC |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Rolling Mill and Agricultural Machinery |
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Products : |
·
Steel Plan and Rolling Machinery ·
Semi Rolling Mills Plant and Machinery ·
Fully Rolling Mills Plant and Machinery ·
Shearing Machines ·
Steel Rolling Mills ·
Hot Rolling Mills ·
Rolling Mills Equipments ·
Rolling Mill Coilers ·
Conventional Mill Stands ·
Dividing Shear ·
3 Hi Pinion Stands ·
Reduction Gear Boxes ·
Twisting Machines ·
Couplings (Universal Geared) ·
Wobbler and Cross Couplings ·
Straightening Machines ·
Shearing Machines ·
Eot Cranes and Electric Hoist ·
Re-heating Furnaces Machineries ·
Pinion Stands/ Speed/ Gear Box ·
Single and Multi Stage Gear Boxes ·
Single/ Double Helical Gears ·
Cold Profile Machines ·
Mechanical Power Process ·
Slag Crushing Machine ·
Rollos and Spur ·
Section Straightening Machine ·
Automatic Decoiling Machine ·
Straightening/ Cutting Machine of Bars ·
Mill Stands and Fly Wheels ·
Bilet Shearing Machine ·
End Shearing Machine ·
Flying Shear Machine ·
Semi and Automatic Rolling Mill Plant ·
Gear Boxes ·
Cooling Bed ·
Flying and Rotary Shears ·
Flange and Flexo Couplings ·
Plate Cutting Machines ·
Hot and Cold crop End Cutting Shearing ·
Workshop Machinery ·
Ejector and Mechanical Pusher ·
Alligator Shearing Machines ·
Reduction Gear Box |
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Exports : |
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Products : |
Rollling Mill Plant |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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No. of Employees : |
35 |
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Bankers : |
HDFC Bank, |
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Facilities : |
CC, TL Rs. 4.000 Millions |
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Banking Relations
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Satisfactory |
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Auditors : |
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Name : |
Shantilal and Company Chartered Accountant |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 10.000 Millions |
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Borrowed : |
Rs. 3.000 Million |
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Total : |
Rs. 13.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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20.000 |
LOCAL AGENCY FURTHER INFORMATION
Trade References:
·
Sachdeva Indus, Shiar
·
Tide Ali and Company,
AS PER WEBSITE
Profile:
Subject well-organized and well– equipped Engineering
Company situated on the Plot - 4, G. I. D. C. Estate,Sihor, Dist. Bhavnagar
(Gujarat-INDIA) .one of the place consisting maximum number of Steel Producing
Mills in
They are basically catering to the needs of the Steel Mill
Industry with the services ranging from Engineering, Consultancy, Design and
Development, Manufacturing and Exporting Highly Economical and cost effective
Steel Rolling Mill Plants on Turnkey Basis.
The Machining and Material Handling Capacity available up to
1-TONE upto 200-TONE enables SM to provide Engineering Assistance to Total
Steel Making Industry for Hot Rolling,Cold Rolling,Pipe Plants (ERW,G.I.,A. P.
I.Grade) and Spares for Sugar and Cement and other Industries by way of
manufacturing the Mechanical Equipments to customer's design and
specifications.
With the vast experience of 30 years(The SM works from last
8-Years.) in the Steel Sector, they are fully capable of providing Total
Turnkey Support for the installation of Complete Steel Making Plants ranging
right from the Iron Ore to Sponge Iron Plants, Sponge Iron / Scrap to Billet
Making Plants through Induction / Electric Arc Furnaces, Ladle Refinery Furnaces,Continuous
Caster Machines and Steel Rolling Mill Plants with a capacity upto 1 TONE upto
200-TONE per hour for Light / Medium / Heavy Section such as I-Beam, Channels,
Angles, H-Beams, Rounds, TMT Bars, Tower Line Transmission Products, Squares or
any other desired End products and lastly but not the least Manganese Ore and
Ferro Silicon and Ferro Manganese plants.
Most prominently,as the name SM itself means
"SACHIDANAND MACHENERY", they make use of Latest Technology in the
Equipments which definitely offers them an edge over the Counterparts.Besides
this, they also undertake Modernization, Revamping and Refurnishing of existing
/ Sick Steel Rolling Mills so as to Enhance Production, Reduce Specific Power
Consumption, Reduce Specific Fuel Rate, Improve Products Quality etc.
To derive maximum benefits, you may please intimate them the
requirement of up-gradation either in particular aspect namely production,
Power consumption, Fuel, Quality, etc. or the total up-gradation of the Plant.
The proposals are cost effective with reasonably Short Pay back and attractive
ROI.(return on Investment), thus helping the Rolling Mills to attain better
quality standards with Higher productivity and Reduce Cost of Production.
Moreover,the Services of SM are nominally priced and you are
not obliged to accept SM solutions or place orders with SM for any of the
products but they shell remain Well-wisher of SteelMill Industry at large.
Emergency
Service
SM provides following emergency services as well,for which
relevant details will have to be furnished by the concerned Unit in advance.
Plant and Machinery breakdown handling services on call round the
clock;Arrangement for spares to handle the breakdown in shortest possible
time;Preparation of assemblies for breakdown handling in Rolling Mills.
Manufacturing
The machinery avalible includes Horizontal Boring
Machines,Floor Boring machines,Center Lathes,Planning Machines and Plano
Milling Machines with Facing,Griding,Shaping,Radial Driling and Slotting
Machines.
Other important equipment avaliable are MIG Welding Sets(Air
Cooled),Gas Cutting Sets,Profile Cutter ,Hack-Saw Machines, Mobile crane (10
MT),Complete Testing and Measuring facilites.
Single
Source
Sachidanand Machinery IS THE SINGLE SOURCE FOR ALL THE
ROLLING NEEDS FLY WHEEL Fly - Wheel weighing upto 30 Tones of Cast Iron and
Steel Casting EQUIPMENT AND ACCESSORIES Shaft and Bearing Block (Bracket). The
shafts are made from Forged Class IV Steel which is U.T. Level II pass. MILL
STANDS Size 125 mm- 750 mm PCD (5" to 30")
Types: 2 Hi and 3 Hi Bearings Gun Metal, Fibre Bearings
Spherical Roller Bearings, Multi Row BearingsTop Roll Spring balanced or
through worm gear box Bottom Roll adjustment through elevators. Easy axial roll
adjustment through elevators. Cast Iron / Steel Fabricated / Steel Casted
Housing (Optimum Mill modulus)Complete with Chocks, Rest Bars and P.O.E.
MULTI STAGE GEAR AND GEAR BOXES Reduction Gear Box, Pinion
Gear Box, Reduction cum Pinion Gear Box,Speed Increaser cum Pinion Stands upto
5000 H.P. Load.Spur,Single Helical and Double Helical Gears upto 3000 MM.
diameter. Gear boxes can be designed and supplied in different configurations
such as single input and double output, more than one output in different
speeds etc. Or any special feature desired by the customer COUPLINGS Wobbler
Couplings, Universal Couplings, Geared Couplings, Flexo Type Couplings, Flange
Type Couplings etc. TWISTING MACHINES Twisting Machines upto 56mm, Twisting
Heads, Jaws and Bits etc.
Coilers and De – Coilers. Repeaters Roller Guide Boxes,
Twister Pipes and Spares. PULLEYS Flat and V-belt Pulleys upto 3000 mm Dia.
STRAIGHTENING MACHINE For Light, Medium and Heavy Sections such as Angle,
Channel, I-Beams, (SMT 135-TO 750) H-Beams, Flat, T-Iron, Window Section etc.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.29 |
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UK Pound |
1 |
Rs.80.40 |
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Euro |
1 |
Rs.63.35 |
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 |
YES |
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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 |
YES |
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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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