MIRA
INFORM REPORT
|
Report Date : |
25.10.2008 |
IDENTIFICATION DETAILS
|
Name : |
R B ELECTRIC AND ENGINEERING WORKS |
|
|
|
|
Registered Office : |
30, Shri Ram Industrial Estate, Near |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2008 (Estimated) |
|
|
|
|
Year of Establishment : |
1985 |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Manufacturer of Plastic Bags and Pouch |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Maximum Credit Limit : |
USD 5000 |
|
|
|
|
Status : |
Small Concern |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is relatively small concern in it’s field. Trade relations are
fair. Scale of activity is limited. No Complaints have been heard from the
market sources. The concern can be considered for small to mediocre business dealings. |
INFORMATION PARTED BY
|
Name : |
Mr. Vyomesh Pithwa |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9825603210 |
|
Date : |
23.10.2008 |
LOCATIONS
|
Registered Office/ Factory 1 : |
30, Shri Ram Industrial Estate, Near Gujarat Botting Cross Road,
Rakhial, Ahmedabad – 380 024, Gujarat, India |
|
Tel. No.: |
91-79-22760912 |
|
Mobile No.: |
91-9825603210 |
|
Fax No.: |
91-79-22760912 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
250 sq mtr |
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
A1/1, Jagannath Industrial Estate, Opp. Ashok Machine Tools, Near.
Gujarat Botting Cross Road, Rakhial, Ahmedabad – 380 024, Gujarat, India |
|
Tel. No.: |
91-79-22760912 |
|
Mobile No.: |
91-9825603210 |
|
Fax No.: |
91-79-2260912/ 22744615 |
|
E-Mail : |
SOLE PROPRIETOR
|
Name : |
Mr. Vyomesh Pithwa |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
32 Years |
|
Qualification : |
M.B.A |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Plastic Bags and Pouch |
|
|
|
|
Products : |
|
|
|
|
|
Exports : |
|
|
Products : |
Plastic Bags |
|
Countries : |
|
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash, Credit |
|
|
|
|
Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Customers : |
|
|
|
|
|
No. of Employees : |
14 |
|
|
|
|
Bankers : |
Bank of Baroda, Rakhial Kotak Mahindra, Sangampur |
|
Banking
Relations : |
-- |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.About 1.000 Million (Estimated) |
|
Borrowed : |
-- |
|
Total : |
Rs.About 1.000 Million (Estimated) |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
|
31.03.2008 |
|
Sales Turnover |
|
|
5.000 |
Expected Sales (2008-09): Rs.7.000 Millions
LOCAL AGENCY FURTHER INFORMATION
As Per Websites
Subject is a leading Manufacturers of plastic Bag and Pouch making, printing and Converting
solutions widely focused on engineering excellence in diversified areas,
within competitive market with high productivity output since 1995 in India.
Printing converting machines are
equipped with high and automatic technology for synchronized motion control
systems, for converting sharp and accurate printing suitable for PVC,
Multilayer and Monolayer films, BOPP, Paper and Foils.
Bag and Pouch making machine along with high
performance servo and stepper driven systems, also in economical
electromagnetic operated system with photocell for plain and printed Bags and
Pouch suitable for BOPP, H.M., PP, LD, LLDPE etc.
In a small-scale industry, they go for TQM Policy and customer
satisfaction oriented services is motto of company.
They deal with Thermoplastic
Extrusion, Injection and Blow molding machineries, A.C. /D.C. Motors and
Drives.
Subject is using TQM (Total Quality management concept) Policy to
compete with fast growing world and supper fast service orientation.
The director’s strategy is to emphasis on productivity through market.
In the organization managers and employees of “Subject” have self-motivated and
inclined for quality management systems, standards for continual kiazen
improvements and enhancement of customer satisfactions. In scope of Tailor-made
process they take most standardize product and maintain their stranded to reach
most nearer.
They reaffirm their commitment for providing consistent quality products
through:
- Using premium
International quality Product raw materials.
- No comprise”
for quality by any one at any stage.
- Performing all
activities with well-defined procedures and instructions.
- Employment of
competent persons and providing them excellent work environment.
- Continual
improvement by timely implementation of corrective and preventive actions.
- Establishing
long last professional relationships with their customers, suppliers and
employees.
- They are
determined to satisfy expectation of their customers all the time for
years to come….
- They believe
for less marketing fundamentals but they won’t to grow with good internal
marketing concept in business it has enhance their business with chain
reaction.(i.e. satisfied customer give best reference to be join their
Organization)
Training
Company success is based on skilled employees. Continued training
provides a competitive advantage. They provide and supportive Operators for new
installation of machines for training purpose at the customer’s location.
Company-specific trainings are also offered that match the tasks the
participants will be carrying out in the future.
Understanding and Supporting the Customer Solve many problems. Once
contact has been established, qualified and comprehensively trained staff put
themselves in the customer’s frame of mind. Dedication to their customer does
not end when the sale is finalized; it is the start of a commitment that will
last over the entire working relationship. Easy availability, clearly assigned
roles, keeping promises and personal commitment all guarantee the highest level
of service quality worldwide
Hotline Support
Quality does not only refer to the product, it also refers to the support
provided to implement a product ideally in order to create a solution for a
task. Question must be answered quickly, and any unclear situations must be
cleared up fast to reach goals and meet deadlines. Customers receive hotline
support via e-mail and telephone for all products. Personal contact allows
knowledgeable answers to be given and solutions to be worked out quickly by
Skilled and experienced technicians.
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.49.95 |
|
UK Pound |
1 |
Rs.79.56 |
|
Euro |
1 |
Rs.63.65 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
32 |
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 |
|