MIRA
INFORM REPORT
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Report Date : |
31.10.2008 |
IDENTIFICATION DETAILS
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Name : |
PREMIER ENGINEERS |
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Registered Office : |
No.4, |
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Country : |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
2002 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Importer and Service Seller of world class machines like Qualio 5 Axis
Machine, Rapido High Speed Machines, Valianter VMC, Atlas VMC |
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 : |
USD 2000 |
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Status : |
Small Concern |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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Comments : |
Subject is a small concern having moderate track. Trade relations are
fair. No complaints can be heard against the concern so far but, subjects
current year and future performance is expected to be seriously affected due to
global meltdown and recession in the industry. It may ultimately affect the
payment behaviours of the subject resulting in to delay. The concern can be considered for small to mediocre business
dealings. |
LOCATIONS
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Registered Office : |
No.4, Pandara Street, Poonamalle, Chennai – 600 056, Tamilnadu, India |
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Tel. No.: |
91-44-26491206 |
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Mobile No.: |
91-9381054067 |
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E-Mail : |
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Website : |
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Area : |
1800 Sq. ft. |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. L Sakthivel |
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Designation : |
Proprietor |
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Address : |
P D Loganathan, No. 4, Pandara Street, Poonamallee, Chennai – 600 056,
Tamilnadu, India |
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Date of Birth/Age : |
38 Years |
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Qualification : |
Diploma |
BUSINESS DETAILS
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Line of Business : |
Importer and Service Seller of world class machines like Qualio 5 Axis
Machine, Rapido High Speed Machines, Valianter VMC, Atlas VMC |
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Products : |
·
Qualio 5 Axis Machine ·
Rapido High Speed Machines ·
Valianter VMC ·
Atlas VMC ·
Axes Bedmill Center |
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Imports : |
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Products : |
·
Qualio 5 Axis Machine ·
Rapido High Speed Machines etc |
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Countries : |
Taiwan |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
L/C |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
6 |
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Bankers : |
State Bank of India Poonamalle Branch, Chennai |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
V F Arun Chartered Accountants |
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Address : |
Chennai |
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Tel. No.: |
91-44-205432 |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
0.400 million (Estimated) |
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Borrowed : |
- |
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Total : |
0.400 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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1.300 |
Expected Sales (2008-09) : Rs.1.500 millions
PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2008 |
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Sales Turnover |
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0.121 |
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Other Income |
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1.258 |
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Total Income |
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1.379 |
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Net Profit |
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0.264 |
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Expenditures : |
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Purchases |
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0.068 |
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Accounting Charges |
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0.010 |
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Advertisement Expenses |
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0.085 |
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Bank charges |
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0.003 |
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Electricity charges |
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0.005 |
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Salary |
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0.094 |
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Staff Welfare |
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0.002 |
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Travelling and Conveyance |
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0.062 |
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Depreciation & Amortization |
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0.022 |
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Other Expenditure |
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0.764 |
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Total Expenditure |
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1.115 |
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KEY RATIOS
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PARTICULARS |
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31.03.2008 |
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PAT / Total Income |
(%) |
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19.14 |
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Net Profit Margin (PBT/Sales) |
(%) |
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218.18 |
LOCAL AGENCY FURTHER INFORMATION
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Additional Requirement of Indiamart for
Trust-Seal |
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Service Tax No. : BFLPS 0407 ST 001 |
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Excise Registration No.: -- |
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VAT / TIN : 33441663351 |
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IEC Code : 0407001948 |
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PAN / TAN : BFLPS0407Q |
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Bank Name : State Bank of India |
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Bank Address : Poonamalle Branch, Chennai |
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Bank A/c. No.: 30057696371 |
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Account Since : 3 Years |
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In case of any affiliations / memberships / certifications : |
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Name : -- |
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Type : -- |
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Expiry Date : -- |
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Trade References
·
Venu Engineering Service Private Limited
·
Universal Engineering Works
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.49.77 |
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UK Pound |
1 |
Rs.79.78 |
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Euro |
1 |
Rs.63.36 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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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27 |
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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