MIRA
INFORM REPORT
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Report Date : |
24.10.2008 |
IDENTIFICATION DETAILS
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Name : |
SHREE AMBICA PLASTIC MACHINERY |
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Registered Office : |
1 -2, Kansawala Estate, Opposite Chakudia Mahadev, Rakhial, Ahmedabad
– 380023, |
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Country : |
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Financials (as on) : |
31.03.2008 (Estimated) |
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Year of Establishment : |
1944 |
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Legal Form : |
Sole Proprietory Concern. |
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Line of Business : |
Manufacturer and Exporter of Plastic Processing Machinery like
Reprocessing Plant, Pipe Plant, Monofilament Plant. |
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 : |
---- |
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Status : |
Small Concern |
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a new concern in its field. Trade relations are fair.
Payments are reported as slow but correct. The concern can be considered for small to mediocre business dealings
at usual trade terms and condition. |
INFORMATION PARTED BY
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Name : |
Mr. Pratik Gajjar |
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Designation : |
Market Engineer |
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Contact No.: |
91-9227448246 |
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Date : |
23.10.2008 |
LOCATIONS
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Registered Office : |
1 -2, Kansawala Estate, Opposite Chakudia Mahadev, Rakhial, Ahmedabad
– 380023, |
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Tel. No.: |
91-79-65126275 / 22745089 / 5542 6375 / 30472150 |
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Mobile No.: |
91-9227448246 / 9825157891 / 9898248246 |
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Fax No.: |
91-79-22745089 / 22782613 / 2546 9289 / 2277 1728 / 22910271 / 22910165 |
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E-Mail : |
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Website : |
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Area : |
2400 Sq. ft. |
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Location : |
Rented |
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Factory : |
7, Kansawala Estate, Opposite Chakudia Mahadev, Rakhial, Ahmedabad –
380023, |
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Area : |
1400 Sq. Ft. |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. Bipin R. Gajjar |
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Designation : |
Proprietor |
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Age : |
51 Years |
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Qualification : |
Under Graduate |
KEY EXECUTIVES
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Name : |
Mr. Pratik Gajjar |
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Designation : |
Market Engineer |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Plastic Processing Machinery like Reprocessing
Plant, Pipe Plant, Monofilament Plant. |
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Exports : |
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Products : |
Plastic Processing Machinery |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash, Credit (15 Days) |
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Purchasing : |
Cash, Credit (30 days to 45 days) |
GENERAL INFORMATION
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Customers : |
Direct Customers, End Users, Manufacturers |
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No. of Employees : |
10 |
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Bankers : |
·
ICICI Bank, Maninagar Branch, Ahmedabad, ·
Kotak Mahindra Bank, Sarangpur Branch, Ahmedabad,
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Banking
Relations : |
----- |
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Auditors : |
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Name : |
Mr. B M Pandit Chartered Accountants |
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Address : |
Rakhial, Ahmedabad, |
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
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Capital Investment : |
Not Available |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
31.03.2008 (Estimated) |
31.03.2007 (Around) |
31.03.2006 (Around) |
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Sales Turnover |
4.000 |
4.000 |
3.000 |
Expected Sales (2008-09): Rs.7.000 millions
LOCAL AGENCY FURTHER INFORMATION
Trade Reference
- Plasmec Engineering Private Limited, Thane
- Piyush Rotomac, Mumbai
Attached Web Details
Concern Profile
Subject makes High Quality range of Extrusion
machine for colouring and reprocessing granules for rotational moulding
machinery.
Subject supplied lot of
extrusion machines for colouring and reprocessing granules with rotational
moulding machinery.
Products / Services:
They are dedicated to provide excellent quality materials so it should
reflect in the final product's quality also.
Their range of products includes :
· Tubing Plants
· Jerican Plant
· Reprocessing Plant
· HDPE Pipe Plant
· HDPE Pipe Plant
· Monofilament Plant
· Scrape Grinders
· High Speed Mixer
· Rotational Moulding Machines
· Rotational Moulds
They are committed to incorporate only the best of raw materials and use
latest technology to produce the best.
Customers Summary
Following Party are suppliers in
· Omkar India Limited Ahmedabad.
· Vikash Polymers, Ahmedabad
· Sarswati Containers, Ahmedabad
· Phonix Polymers, Ahmedabad
· Jivan Dhara Plastic Industries, Visnagar
· Shivam Plastic Industries, Visnagar
· Yogeshwar Plastic Industries, Surendranagar
· Shreedhan Plastic Industries, Ratnagiri
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Tank O man Polymers,
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· Super Plastic Industries, Nanded
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Sweetex Containers,
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Amit Polymers,
· Panchagna Roto Plast, Kolapur
· N.A. Corporation, Vatwa
· PlasMech Engg. Private. Limited., Thane
Following party are supplier in Foreign Country :
· Al Zamil and Concern, Daman
· Suwadi Polycon, Alkhobar
· Simplex Plast, UAE
· Trading Congo, Central Africa
· Mas Plastic Industries, Ajman UAE
· Modern Plastic Industries, Dubai.
Facility Summary
They got state of the art infrastructure and equipped with the latest
machines to serve the best to their privileged customers.
They also have necessary testing facility available with them. Strong emphasis
on continuous research to innovate new technologies have placed them on the
favorites list of many big clients.
othEr information:-
Subject is located in Rakhial which is best Industrial Area of Gujarat,
just 20 minutes away from Airport as well as Railway Station. Ambica Plastic
Machinery Manufacturers was founded in 1976. They feel proud to complete 30
years of their foundation. The Concern is being engaged and continue the
similar activities with necessary innovations, dedication, fair business policy
and vision to face techno-commercial challenges of the current and future
trends.
Subject have been serving a highly diverse customer base and producing a wide
range of plastic processing machinery. Subject believes that understanding the
requirements of the customer, must be augmented with extensive knowledge of
Plastic Part Design, Tooling and Processing Conditions in order to ensure that
efficient and robust processing capability are part of any solution. Their commitment to quality and value based business
ethics have assured them a loyal network throughout the world Periodic Reviews,
Process Control, Inspection, Testing, complaint handling systems and training
programs are all parts of an effective
quality control system. Customer feedback is viewed seriously for improving services.
Subject has achieved a reputed Position in Plastic Machinery Market by
performance, precision workmanship, constant developments and after sales
services. Their works is utmost care and under strict and rigid quality
controls, raw-material selection to various kind of rigorous tests, left spread
to make the product performance perfect believed in entire satisfaction for
quality as well as for cost.
Manufactures
The concern from its inception, been known for high quality products,
competitive prices and innovation. They
are basically manufactures of Plastic Processing Machinery like Reprocessing
Plant, Granulation Plant, HDPE / PVC Pipe Plant, Mono Filament Plant, Box
Strapping Plant, Sutli Plant with "T" Dies, Jerrycan Plant, Tubing
Plant, Heavy Duty Scrap Grinder, High Speed Mixture, Aggloremeter and Screw
Barrel.
Quality Policy
All their products are manufactured in state-of-the-art technologies to
give better homogeneity and consistency. They manufactures products as per International
standard. Their ability to produce tailor-made products with minimum quantity
requirement is a great boon for their customers.
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.49.79 |
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UK Pound |
1 |
Rs.81.27 |
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Euro |
1 |
Rs.63.91 |
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 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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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 |
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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37 |
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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