MIRA INFORM REPORT

 

 

 

Report Date :

1.09.2008

 

IDENTIFICATION DETAILS

 

Name :

A P COMPONENETS PRIVATE LIMITED

 

 

Registered Office :

Flat No.111 , SH 6 and 7 BG Block , Landewadi MIDC , Bhosari, Pune - 411027 , Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2008

 

 

Date of Incorporation :

4.10.2006

 

 

Com. Reg. No.:

129141

 

 

CIN No.:

[Company Identification No.]

U29299PN2006PTC129141

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

PNEA09946G

 

 

PAN No.:

[Permanent Account No.]

AAFCA9528B

 

 

Legal Form :

Private Limited Liability Company.

 

 

Line of Business :

Manufacturer of Auto Mobile Parts for Fitrum tools Components and Auto Composit Fistin India Limited and Auto Composit than sells to Tata Briscan. 

 

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

 

 

 

 

 

Status :

New Company

 

 

 

 

 

 

Payment Behaviour :

Slow

 

 

 

 

 

 

Litigation :

Clear

 

 

 

 

 

 

Comments :

Subject is a relatively new company and in the process of establishing itself. Trade relations are fair. Payments are reported as slow but correct.

 

The company can be considered for small to mediocre business dealings.

 

 

LOCATIONS

 

Registered Office /Factory :

Flat No.111 , SH 6 and 7 BG Block , Landewadi MIDC , Bhosari, Pune , Maharashtra

Tel. No.:

91-20-27121415

Mobile No.:

91-9766000050 (Mr.Abhijeet Purwat)

Fax No.:

91-20-27121415

E-Mail :

ap_components@dataone.in / anpurwat@gmail.com

Area :

3600 Sq.fts.

Location :

Rented

 

 

DIRECTORS

 

Name :

Mr.N P Purwat

Designation :

Director

Date of Birth/Age :

50 years

Qualification :

MBBS

 

 

Name :

Mr. Abhijeet Purwat

Designation :

Director

Address :

Jay-Raj Residency , Phase 1,Flat 15,Priyadarshini Nagar , Old Sanghvi,Pune-411027,Maharashtra,India

Date of Birth/Age :

26 years

Qualification :

Diploma in Engineering

 

 

Name :

Mr.Nagendrakumar Purwat

Designation :

Director

Address :

At Post Karkamb,Tal Pandharpur,District, Solapur – 413304 , Maharashtra,India

Date of Birth/Age :

01.06.1950

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

Names of Shareholders

 

No. of Shares

 

 

 

Mr.Abhijeet Purwar

 

8000

 

 

 

Mr.Nagendra Kumar Purwat

 

2000

 

 

 

Total

 

10000

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Auto Mobile Parts for Fitrum Tools Components and Auto Composit Fistin India Limited and Auto Composit than sells to Tata Briscan.

 

 

Products:

v      Precision Auto Turned Parts

v      Sheet Metal Components

v      Draw Components

v      Press Tools And Dies

v      Concept Tooling

v      Draw And Leg Bend Tools

v      Progressive Components

v      Jigs And Fixtures

v      Industrial Fixture

v      Chasis Fixtures

 

 

Exports :

 

Countries :

v      South Africa

v      U.K

 

 

Terms :

 

Selling :

Credit (45-60-90 days)

 

 

Purchasing :

Credit (30 days)

 

GENERAL INFORMATION

 

Customers :

v      Cromwell Industries Private Limited

v      Filtgaurd Fill.Private Limited

v      Sortimat Technology Private Limited

v      Ashok Leyland Limited

v      Sujan Industries Private Limited

v      John Deere Limited

v      Filtrum Tools and Components Private Limited

v      Sanmati Pressing Private Limited

v      End Users

 

 

No. of Employees :

51 (In office – 27 / In factory – 24)

 

 

Bankers :
  • Bank of Maharashtra

Bhosdra, Nigdi

 

  • Vishveshwar Co-Operative Bank

       Nigdi

 

 

Facilities :

CC Rs.1.000 million

 

 

 

Banking Relations :

Satisfactory

 

 

Associates/Subsidiaries :

Nil

 

CAPITAL STRUCTURE

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

10000

Equity Shares

Rs.10/-each

Rs.0.100 million

 

Issued and Paid Up Capital:

No. of Shares

Type

Value

Amount

 

 

 

 

10000

Equity Shares

Rs.10/-each

Rs.0.100 million

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Expected Sales (2008-09) : Rs.12.000 millions

 

 

LOCAL AGENCY FURTHER INFORMATION

 

WEBSITE DETAILS ATTACHED:

 

Subject is one of the leading manufacturers of sheet metal components, press tools and dies. Manufactured from quality raw material, Since their inception, they have grown step by step to become one of the leading names in the sheet metal, machining components, press tool and dies (in auto and non auto) manufacturing industry. Their infrastructure facility is situated at Pune, Maharashtra, and is led under the experienced guidance of Mr. Abhijeet Purwat. His able support and the collective expertise of their team allow them to manufacture a diverse range of products including sheet metal components, precision turned auto parts and components, (draw component), press tools and dies, (concept tooling, draw and leg bend tool, forming tool, progressive tool), machining components, jigs and (welding fixture) fixtures. They match the exact dimensional and other customized needs of their clients.

Product Profile

To carry out the production work efficiently and effortlessly, they also have in-house designing facilities based on modern technology, which enables them to manufacture a wide range of sheet metal components, press tools and dies. Adding to this, they also have services of dedicated workforce comprising of industry experts. They are aware of the demanding nature of the involved operations and devise better ways to make their operations more competent.


Their streamlined management and synchronization between different departments ranging from procurement, production, inventory, market, sales and services result in higher productivity without compromising on the quality of the end products.

They provide their customers with best quality products which are used in automobile and varying other industries. In spite of such a wide assortment of products, quality is never compromised at their premises. This starts with procuring of raw materials like MS, D2, H.C.H.C.R., Ohns, En8, 20Mncr, SS, Al-H30, sheets (H.R.,C.R ) and others (as per the customers requirements) from vendors who are recognized and certified. Their diverse range of products include sheet metal components, precision turned auto parts and components, draw component, press tools and dies, concept tooling, draw and leg bend tool, forming tool, progressive tool, machining components, jigs and welding fixture and fixture.

Customized Products

Their modern infrastructural facilities enable them in performing customized jobs in accordance with the clients specifications. Further their experienced industry experts and assist them in understanding the specific needs of clients and providing efficient and compatible solutions accordingly.

Quality

Providing their customers with quality products is their priority. Their wide range of sheet metal components (Auto and Non auto) and other products (machined components, press tools and dies) successfully meet the relevant international and domestic quality standards. Product quality that have been duly recognized by their customers. Their continuous efforts for improvisations in terms of advanced mechanisms have also helped them in delivering fruitful results.They conduct special quality measures at every stage of production to ensure flawless products. These inspections are done by a team of experienced quality control inspectors who are specially trained to identify defects during the on going production processes.


In addition to this, they also make use of different measuring instruments, which help them determine the accuracy of their products. Some of them include:

 

Infrastructure

Their expertise lies in effectively utilizing their advanced infrastructure to deliver products of impeccable quality. They have installed the latest machinery that results in faster production and increased production capacity.


Through their knowledge of the industry and their quest for gaining technical expertise above their competitors, they keep a regular tap on the different technological advancements and incorporate them in their processes, which help them in maintaining continuity in production and consistency in quality.
Their unit consists of:


The tool room machines consists of :

Logistics

To make prompt deliveries, they have developed contacts with some of the leading names in the logistics industry. Their efficient distribution network assist them in maintaining uninterrupted flow of products at all times. Further the services of experienced logistics team help them in keeping a close watch on the loading and unloading of products, ensuring flawless process followup till the consignment reaches their respective destinations.

 

 

 

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

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

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

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--MARGINS

-5~5

 

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--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

 

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

 

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

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions