MIRA
INFORM REPORT
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Report Date : |
01.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
I. S. ENGINEERING WORKS |
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Registered Office : |
C-87/2, Lane No. 11/5, Matke Wali Gali Chouhan Banger, Seelampur, New
Delhi - 110 053 |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
2000 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturers and Exporters of steel cutting and bending machines,
mechanical components, hydraulics and electrical panel boards. |
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 25000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed concern having satisfactory
track. Trade relations are fair. Business is active. Payments are reported as
usual trade terms and conditions. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Sultan Khan |
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Designation : |
Proprietor |
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Date : |
25.08.2008 |
LOCATIONS
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Registered Office : |
C-87/2, Lane No. 11/5, Matke Wali Gali Chouhan Banger, Seelampur, New
Delhi – 110 053, India |
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Tel. No.: |
91-11-22563125 / 22853836 |
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Mobile No.: |
91-9873403301 / 9911637786 / 9811625114 |
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Fax No.: |
91-11-22853836 |
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E-Mail : |
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Website : |
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Area : |
250 sq mt [Owned] |
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Factory : |
A 30, Sector – A4, Upsidc, Ghaziabad,
Uttar Pradesh |
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Area : |
472 Sq. ft (Owned) |
SOLE PROPRIETOR
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Name : |
Mr. Sultan Khan |
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Designation : |
Proprietor |
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Date of Birth/Age : |
29 Years |
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Qualification : |
Graduate |
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Experience : |
10 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of steel cutting and bending machines,
mechanical components, hydraulics and electrical panel boards. |
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Products : |
Services
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Imports : |
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Products : |
Construction machines |
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Countries : |
China |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
LC, Credit and TT |
GENERAL
INFORMATION
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Customers : |
DMRC Metro Stations
Wholesalers and Retailers |
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No. of Employees : |
35 (Office – 25 + Branch -10) |
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Bankers : |
ICICI Bank Limited, Darya Ganj, New Delhi
– 110002 |
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Banking
Relations : |
Satisfactory |
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Auditor: |
Saigal and Company (Vishal Saigal) Chartered Accountant |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 5.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 5.000 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
10.000 |
9.000 |
8.000 |
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Profit/Loss for the year |
NA |
12% |
12% |
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Import Value |
NA |
20 % |
-- |
Expected Sales (2008-09) : Rs. 30.000 millions
LOCAL AGENCY
FURTHER INFORMATION
Subject is an ISO 9001:2000 certified concern
Trade References
v
Alluvalia and Company
v
Era Infrastructure
Trustseal Acceptance Chart
|
Existence Verification |
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Name |
I. S. ENGINEERING WORKS |
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Address |
C-87/2, Lane No. 11/5, Matke Wali Gali Chouhan Banger, Seelampur, New
Delhi - 110 053 |
|
Tel. No.: |
91-11-22563125 / 22853836 |
|
Mobile No.: |
91-9873403301 / 9911637786 / 9811625114 |
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Fax No.: |
91-11-22853836 |
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Statutory Approvals |
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Legal Status of Firm |
Sole Proprietory Concern |
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Income Tax Registration |
BDSPS3596K |
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VAT/ TIN Registration |
07540307374 |
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Import Export Code |
0507029241 |
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Name of Bank |
ICICI Bank Limited, Darya Ganj, New Delhi
– 110002 |
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Current Account Number |
033305000961 |
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Account Since |
3 Years |
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Standards & Certifications |
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Quality Management Systems |
ISO Certificate JAS, ANZ, PCMS/QMS/1983/2007 ECC531112041N
ISSUED – 22.12.2007 Expiry – 21.12.2010 |
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.43.79 |
|
UK Pound |
1 |
Rs.80.05 |
|
Euro |
1 |
Rs.64.56 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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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