MIRA
INFORM REPORT
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Report Date : |
27.10.2008 |
IDENTIFICATION DETAILS
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Name : |
SUNSIL ENGINEERS |
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Registered Office : |
247, |
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Country : |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1996 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CMBS08770G |
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PAN No.: [Permanent
Account No.] |
AAHFS8117K |
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Legal Form : |
Partnership Concern With an Unlimited Liability of the Partner |
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Line of Business : |
Manufacturer of Plastic Injection Moulds, Moulds Components. |
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 5000 |
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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. 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. G R Mohan |
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Designation : |
Partner |
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Contact No.: |
91-9842215702 |
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Date : |
23.10.2008 |
LOCATIONS
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Registered Office/Factory : |
247, |
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Tel. No.: |
91-422-2457702 |
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Mobile No.: |
91-9842215702 ( Mr. G R Mohan ) |
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Fax No.: |
91-422-4385702 |
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E-Mail : |
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Website : |
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Area : |
1500 sq ft |
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Location : |
Rented |
PARTNERS
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Name : |
Mr. G R Mohan |
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Designation : |
Partner |
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Date of Birth/Age : |
44 Years |
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Qualification : |
Engineering |
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Name : |
Mr. Shankar Raman |
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Designation : |
Partner |
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Date of Birth/Age : |
58 Years |
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Qualification : |
Engineering |
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Name : |
Mr. Nag Shubhramanian |
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Designation : |
Partner |
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Date of Birth/Age : |
46 Years |
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Qualification : |
Engineering |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Plastic Injection Moulds, Moulds Components. |
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Products: |
· Plastic Injection Moulds · Mould bases · Moulds for Investment Casting Process · Press Tools · Die Casting Dies · Jigs & Fixtures · Rubber Moulds · Ceramic Moulds |
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Imports : |
(Currently they are Not import) |
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Products : |
Plastic Raw Material |
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Countries : |
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Terms : |
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Selling : |
Credit (30 days/ 60 days/ 90 days) |
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Purchasing : |
Credit (30 days/ 60 days/ 90 days) |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
20 |
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Bankers : |
Tamilnad Mercantile Bank, |
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Facilities : |
Overdraft |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
S Laxmi Narayanan and Company, Chartered Accountant. |
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Address : |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.000 Million (Estimated) |
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Borrowed : |
NA |
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Total : |
Rs. 1.000 Million ( Estimated) |
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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15.000 |
Expected Sales (2008-09) : Rs.25.000 Millions
LOCAL AGENCY FURTHER INFORMATION
Trade Reference:
·
Mico Limited,
·
Larsen and Toubro Limited,
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Additional Requirement of Indiamart for Trust-Seal |
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VAT / TIN : 33182000278 |
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PAN / TAN : AAHFS8117K |
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Bank Name : Tamilnad Mercantile Bank |
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Bank Address : |
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Bank A/c. No.: 00490 |
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Account Since : 10 Years |
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In case of any affiliations / memberships / certifications : |
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Name : ISO |
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Type : 9001:2000 Moody |
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Expiry Date : 2008 |
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Profile:
Established in the year 1985, They are located in
Started with a vision to offer high quality mould and moulded components, They
have now carved a niche for theirselves in the market. Right from the
procurement of raw material till the final delivery, each stage is stringently
put under the system approach to ensure quality. Their products and
personalized services have enabled them in winning the trust and confidence of
all their clients.
Infrastructure:
They have state-of-the-art infrastructure, which is equipped with high
end machines to facilitate the manufacturing process. Some of the branded
machines, which They have installed at their manufacturing unit are-
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CNC Vertical milling machine (Haas) 800 mm x 450 mm
traverse
Vertical Turret Milling Machine (Kirloskar) of Table 1067 mm X 230 mm
fitted with Digital Readout System (5 micron resolution) and all accessories
including Micro Boring Head available in the following axis-.
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X axis – 665 mm
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Y axis – 300 mm
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Z axis – 390 mm
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ELECTRONICA Spark Erosion Machine of Table 500 mm x
300 mm fitted with Digital Readout System
B.S. PEDERSEN BPU 2 Milling Machine of Table 1300 mm x 305 mm available in
the following axis:-
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X axis – 820mm
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Y axis – 220 mm
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Z axis – 450 mm
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Surface Grinding Machine of Table 450 mm x 150 mm
form "Lucky"
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"Dhanukar" Hydraulic Surface Grinding
Machine of Table 550 mm x 350 mm
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LZ 300 GEEDEE WEILER Lathe of swing over bed 300
mm, admit between centre 800 mm and height 135 mm
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Precision Center lathe of 41/2 feet form “Anil”
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EIFCO Drilling Machine of 25 mm
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EIFCO Radial Arm Drilling Machine 11/2 Capacity
Quality Policy and
Assurance:
As an ISO certified company, they lay complete emphasis on the quality
of their products. They are committed to achieve excellence bu continually
improving methods and process along with laying efforts towards skill up
gradation. Abiding by their quality policy, They have bifurcated their quality
assurance process in to five distinct stages, which holds the responsibility of
monitoring the quality at different process levels. These stages are:
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STAGE I |
Design verification of tool design. |
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STAGE II |
Raw material inspection. |
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STAGE III |
Inspection of machined mould components. |
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STAGE IV |
Pre-assembly inspection of all mould
components. |
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STAGE V |
Final assembly and inspection. |
Further, they also have an in-house quality control department, which is
equipped with instruments and tools to carry on the quality inspection process.
These are:
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Digital Verniers, Dial Verniers up to 300 mm
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Micro Meters up to 75 mm
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Bore Dial Gauges up to 60 mm
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Depth Gauge up to 100 mm
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Surface Table (Granite) 450 mm x 450 mm
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Dial Height Gauge 300 mm
Besides these, they also have Radius Gauges, Thread Gauges, Pin Gauges
and all other basic instruments to make the quality check a smooth process to
bring out perfection in their range of molds, dies and mold components. Further,
they also outsource some of the quality control equipment like Co-ordinate
Measuring Machine and Profile Projector.
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] 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 |
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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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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