MIRA
INFORM REPORT
|
Report Date : |
02.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
RAHUL ENGINEERING COMPANY |
|
|
|
|
Registered Office : |
Plot No. 6, Gat No. 627/ 2/ 2/ 6, Pune-Nasik Highway, Opp. Kish or
Pumps, Kuruli, Pune – 410 501, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2008 |
|
|
|
|
Year of Establishment : |
2005 |
|
|
|
|
IEC No.: |
3106003278 |
|
|
|
|
PAN No.: [Permanent
Account No.] |
ACIPC2009F |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of Process Equipments. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 25000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is 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
|
Name : |
Mr. Rahul |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9890087871 |
|
Date : |
28.08.2008 |
LOCATIONS
|
Registered Office : |
Plot No. 6, Gat No. 627/ 2/ 2/ 6, Pune-Nasik Highway, Opp. Kish or
Pumps, Kuruli, Pune – 410 501, Maharashtra, India |
|
Tel. No.: |
91-20-32515979 |
|
Mobile No.: |
91-9890087871 |
|
Fax No.: |
91-20-258245454 |
|
E-Mail : |
|
|
Location : |
Owned |
PROPRIETOR
|
Name : |
Mr. Rahul |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
28 Years |
|
Qualification : |
Post Graduate |
|
Experience : |
3 Years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Process Equipments. |
|
|
|
|
Products : |
|
|
|
|
|
Exports : |
|
|
Products : |
v Process
Equipments |
|
Countries : |
v USA v UK |
|
|
|
|
Terms : |
|
|
Selling : |
Credit (30 days), Advance |
|
|
|
|
Purchasing : |
Credit (60 days) |
GENERAL
INFORMATION
|
Customers : |
v End Users v OEM’s v Alfa Laval India Limited, Pune v Batliboi Environmental Engineering Limited, Bombay v Consarc Engineering Limited, UK v Praj Industries Limited, Pune v RIECO Industries Limited, Pune v Vacuum Plants and Instruments Manufacturing Company Limited, Pune v Growel |
|
|
|
|
No. of Employees : |
35 |
|
|
|
|
Bankers : |
v Union Bank of
India Khadi Branch, Pune |
|
|
|
|
Facilities : |
CC Limit – Rs. 2.000 millions [The concern reported to enjoy cash credit of Rs. 2.000 millions from
its bankers] |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Amol Dattar and Associates Chartered Accountants |
|
Address : |
Pune |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs. 5.000 millions |
|
Borrowed : |
-- |
|
Total : |
Rs. 5.000 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
|
31.03.2008 |
|
Sales Turnover |
|
|
22.000 |
Expected Sales (2008-09): Rs. 30.000 millions
LOCAL AGENCY
FURTHER INFORMATION
Trade References
v Vacuum Plants and Instruments Limited – Pune
v Praj Industries Limited – Pune
v Renuka Sugar Industries Limited – Pune
Trust Seal Acceptance Chart
|
Parameters |
Details |
|
Existence Verification |
|
|
Name |
Rahul Engineering Company |
|
|
|
|
Statutory Approvals |
|
|
Income Tax Registration |
ACIPC2009F |
|
Central Sales Tax Registration |
27260123674C |
|
VAT/ TIN Registration |
27260123674V |
|
Excise Registration |
ACIPC2009 XM001 |
|
Import Export Code |
3106003278 |
|
Name of Bank |
Union Bank of India |
|
Current Account Number |
51070 |
|
Account Since |
2005 |
|
|
|
|
Credibility Factors |
|
|
India Mart Client Since |
2 Years |
|
Year of Establishment |
2005 |
|
|
|
|
Trade Affiliations |
|
|
SSI Registration |
111956940 |
As Per Website Details
Established in the year 2005, they are a young and enterprising organization, engaged in manufacturing of Coded Pressure Vessel, Storage Tanks, Heat Exchangers, Brewery Equipments and Chemical Process Equipment in Stainless Steel and variety of Special Materials. The vast range of products comprises of Heat Exchangers, Storage Tanks, Vacuum Vessels, Pressure Vessels, Fermenters for Brewery Installations, Handling Equipment, Separator and Venturi Scrubber for Gas Cleaning Plant, Manifolds and Filtration Units. The entire range is manufactured using high grades of steel and variety of other special material, which is procured form reliable vendors in the market.
Under the able leadership of the mentor Mr.Rahul Chandrakant Chhajed, who is highly qualified and experienced in the field, they have executed various prestigious projects. An M.S in industrial welding and system engineering from the prestigious Ohio State University of USA, he has vast experience in the domain and thus can guide us through the fabrication process and execution of projects without any technical error.
Products
Manufactured out of high grades of raw materials such as SS304, SS316L, Tiscral and SA516Gr70 with 100% Radiography, they offer a vast range of Process Equipment comprising of Gas Cleaning Plants, Moisture Separators, Heat Exchangers, Storage Tanks, Centrifugal Fans, Vacuum Vessels, Pressure Vessels, Air Pollution Control Equipment comprising of Separators, Venturi Scrubber, Brewery Equipments comprising of Fermenters,
Uni Tank, Caustic Tanks, Handling Equipment, Manifolds and Filtration Units.
The range of products is characterized by salient features such as-
v High Performance
v Custom Design
v Use of high grades of Raw Material
v Highest Standards of Workmanship
Application Industries
v Steel Industry
v Engineering Industry
v Cement Industry
v Chemical Industry
v Beverage Industry
v Brewery
v Sugar Industry
v Food Industry
v Pharmaceutical Industry
v Paper and Pulp
Infrastructure
They leverage on the state-of-the-art infrastructure, which is widespread
across an area of sixty thousand sq feet. It comprises of the factory shed,
open area, office and infrastructural facilities. Further, the strategic
location of the concern near to the Pune-Nasik Highway in the busy industrial
area of Kuruli and Chakan offers us a competitive edge over the other business
enterprises.
They have a well equipped manufacturing and fabrication unit, which is
segregated into various departments for cutting bending, welding, polishing and
machining activities. Some of the machines, which they have installed in the
manufacturing unit for performing the mentioned tasks are-
Cutting Equipment
v
Shearing
Machine
v
6mm
Thickness x 2500mm Width
v
PUG
/ Gas Cutting Set
v
Plasma
Cutting up to 40 mm
Bending Equipment
v
Plate
Bending Machine
v
Maximum
Plate Thickness: Cold Bending 16 mm
v
Maximum
Width: 2500 mm
Welding Equipment
v Welding Rectifier with High Frequency Unit – 8 Sets.
v CO2 Welding Machine – 1 No.
v Stationary Ovens; 2 Nos.
v Portable Ovens; 2 Nos.
Polishing and
Grinding Equipment
v Polishing Trolley; 4 Nos.
v Grinders; 6 Nos.
Machining Facility
v Centre Lathe
v Radial Drilling Machine
v Magnetic Drilling Machine
Crane and Handling
Facilities
v 7.5 MT EOT Crane
v 5 MT Chain Pulley Block.
v Reciprocating Type Air Compressor(5 HP)
v Diesel Generating Set, Capacity: 65 KVA
v In addition to these manufacturing facilities, they also have additional facilities for Radiography, UT and MPI, which are located in the close vicinity and are available as required.
v Testing Equipments for Hydro Test, Pneumatic Test, and Dye Penetrate Test.
Team
They nurture a team of qualified and trained personnel, who
are well versed with the functioning of their respective domain. Each task in
carefully handled by the team of managers and workers, which is skilled in
handling their departments. The team of administration, research and
development, customer care, manufacturing and other work in tandem with each
other to attain the goal of the organization i.e “Customer Satisfaction”.
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 :
The 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.
The 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. 44.26 |
|
UK Pound |
1 |
Rs. 79.19 |
|
Euro |
1 |
Rs. 64.42 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
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
|
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, they have no basis upon which to
recommend credit dealings |
No Rating |
|