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MIRA
INFORM REPORT
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Report Date : |
27.10.2008 |
IDENTIFICATION DETAILS
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Name : |
CREATIVE COILS ( |
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Registered Office : |
10 B, Bamanwada, Near Chakala Cigaret Factory, Opposite Bob
H S G, Chakala Andheri East, Mumbai - 400 099, |
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Country : |
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Financials (as on) : |
31.03.2008 (Estimated) |
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Year of Establishment : |
1990 |
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PAN No.: [Permanent
Account No.] |
AABPC6937B |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of all types of springs |
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 2000 |
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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 steady business. 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. Allwyn Coutinho |
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Designation : |
Proprietor |
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Contact No.: |
91-9223700835 |
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Date : |
23.10.2008 |
LOCATIONS
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Registered Office / Factory : |
10 B, Bamanwada, Near Chakala Cigaret Factory, Opposite
Bob H S G, Chakala Andheri East, Mumbai - 400 099, |
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Tel. No.: |
91-22-28370311 |
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Mobile No.: |
91-9223700835 |
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Fax No.: |
91-22-28370311 |
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E-Mail : |
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Area : |
600 Sq.fts |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Allwyn Coutinho |
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Designation : |
Proprietor |
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Date of Birth/Age : |
43 years |
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Qualification : |
Graduate |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of all types of springs |
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Products : |
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Terms : |
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Selling : |
Cash, Credit (90 days) |
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Purchasing : |
Cash, Credit (30 days) |
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GENERAL INFORMATION
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Customers : |
Manufacturer |
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No. of Employees : |
16 |
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Bankers : |
Saraswat Co-Operative Bank, Vile Parle (East), Mumbai, |
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Facilities : |
Cash Credit Rs. 0.100 million |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Deepak Kumar Joshi and Company Chartered Accountants |
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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 (Estimated) |
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Sales Turnover |
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8.000 |
Expected Sales (2008-09): Rs. 10.000 millions
LOCAL AGENCY FURTHER INFORMATION
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Additional
Requirement of Indiamart for Trust-Seal |
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TIN : 27970359915 |
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CST
No.: 27970359915C |
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PAN / TAN : AABPC6937B |
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Bank Name : Saraswat Co-operative Bank |
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Bank Address :Vile Parle (East) |
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Bank A/c. No.: 2122 COD |
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Account Since : 18 years |
Notes: - No ISO Certification
TRADE REFERENCES:-
·
Syndicate Wiper Systems Private Limited, Mumbai,
·
Polystreen Molding Private Limited, Mumbai,
WEBSITE DETAILS:-
Established in the
year 1990, subject is engaged in
manufacturing and supplying of industrial coils, springs and special types
of springs including compression springs, torsion springs and tension springs.
Their products are known for their tensile strength and hardness qualities.
Under the able and efficient guidance of their mentor Mr. Allwyn Coutinho, they
have been serving their clients with their quality products as a Proprietorship Firm for almost two
decades now. Their well defined quality control methodology leaves no scope for
any kind of fault in their product range. This helps them maintaining strong
hold over a wide base of their clientele spread all over.
Products
Their products are
manufactured using fine grade of raw materials procured from reliable vendors
locally. They use EN-47 and EN- 48 spring steel material in fabrication of
their range of industrial coils, springs and sheet metal components. Their
range of products includes compression
springs, tension springs, torsion springs, spiral springs, wire forms springs,
spring rings, heavy duty coil springs, zig zag springs, clamp springs and hook
springs.
Some salient features of their products are:
· Tensile Strength
· Durable
· Longer Service Life
· Corrosion Resistant
· Intrinsic Fabrication
Industries
Catered
Their products find
applications in various industrial as well as personal establishments.
Presently they cater to their extensive clients located only in Mumbai. They
are expanding their distribution network catering to all over the country.
They supply their products to following industries and applications:
· Pharmaceutical Industry
· Electrical/ Electronics Industries
· Oil Industry
· Textile Industry
· Cement Plants
· Refinery
· Automobile Industry/ Engineering Industries
· Paper and pulp Industry
· Toy Manufacturing Industries
· Water piping system
· Refrigeration Product Industries
Infrastructure
They possess a
state-of-the-art infrastructure comprising of their own manufacturing plant.
Their manufacturing plant is spread over an ample space of 600 square feet. It
is well equipped with latest machinery for fabrication of their entire range of
industrial coils, springs and special types of springs. Some of the
machines used in their manufacturing plant are:
· Automation Power with Pneumatic System
· Heavy Duty Spring Coiling Machine
· Fully Automatic Fabrication Machine
· Semi Automatic Machine
They have their own in-house design unit to design and develop their products.
This assists them in providing customized solutions to their clients as per
their specified requirements. For quality control, they have their testing unit
facilitated with latest testing facilities where different types of testing are
carried out on their entire product range. Their sound infrastructure is
well-managed by their efficient team of experienced professionals.
Team
They have been able
to serve their clientele with complete satisfaction due to their dedicated team
of expert professionals. Their core team comprises of engineers, technicians
and machine operators. Their quality analysts assure that no product skips
conformity to quality norms as per their own quality control methodology based
on international standards.
All the employees of
their organization have deep commitment to quality and innovation, which has
provided them success they enjoy today. Their strong understanding of the
customer requirement has enabled them to deliver complete client satisfaction
and expand their list of clients.
Quality Assurance
Their concern
considers quality as a crucial factor not just for them but for their clients
as well. Each process right from the procurement of raw components to the final
production of their products is closely kept under surveillance as per standard
quality checks. They have their own well-defined standards and effective
manufacturing process management to achieve complete quality. They’ve framed
quality checkpoints throughout their process, which is closely monitored by
their quality analysts.
They carry their various testing on their products before they are ready to be
delivered.
These tests are done at their own
testing unit which is well-equipped with latest testing facilities. Some of the
tests done on their products are:
· Load testing/Tensile Strength Test
Their hard earned expertise, experience and outstanding success in the industry
has come with their strict adherence to uncompromising quality standards that
they implement in their process management.
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.49.95 |
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UK Pound |
1 |
Rs.79.56 |
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Euro |
1 |
Rs.63.65 |
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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