MIRA
INFORM REPORT
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Report Date : |
08.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
ALPHA SERVICES |
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Registered Office : |
Jayant Gandhi House, A -8, Shivalik, New Delhi – 110 017 |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1980 |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturer of Construction Machinery |
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 : |
Good |
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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 meeting is normal
commitments timeously. Trade relations are fair. Business is active. The concern can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Ragan J Gandhi |
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Designation : |
Partner Cum Chief Executive Officer |
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Date : |
05.09.2008 |
LOCATIONS
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Registered Office / Head Office: |
Jayant Gandhi House, A -8, Shivalik, New Delhi – 110 017, India |
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Tel. No.: |
91-11-26673648 / 26677965 / 26677967 / 26677966 |
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Fax No.: |
91-11-26677964 |
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E-Mail : |
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Website : |
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Area : |
1200 Sq.fts |
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Location : |
Owned |
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Plant : |
F – 84/85, RIICO Industrial Area Bhiwadi, District Alwar – 301 019,
Rajasthan, India |
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Tel. No.: |
91-1493-223873 |
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Fax No.: |
91-1493-220983 |
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E-Mail : |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Ragan J Gandhi |
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Designation : |
Partner Cum Chief Executive Officer |
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Date of Birth/Age : |
50 years |
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Qualification : |
Management Graduate from Barry University, USA |
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Experience : |
25 years |
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Date of Appointment : |
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Name : |
Mrs. Sangeet Gandhi |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Construction Machinery |
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Agencies Held : |
Transfer of
Technology Manitou BF, of France, who are the manufactures of the world renowned
range of Maniscopic Handlers and Mobile Tower Cranes used in the Construction of High rise
Apartment, Industrial and Bridge Construction, etc Authorized Dealer for Escorts Construction Equipment Limited, India to
sell all the products being manufactured by them along with their after sales
service and supply of spare parts in the National Capital Region of
Delhi |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS
The concern has capacity to increase
production by 35%
GENERAL
INFORMATION
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Suppliers : |
Own manufacturing and Own Set Up |
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Customers : |
Delhi Metro
Project, Delhi, India (For carried out 6000 MT of fabrication / erect ion work) Construction Companies engaged in development of Multi – Storey
Building Complexes, Structural Erection Contractors for Steel, Cement. |
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No. of Employees : |
16 in Delhi and 40 in Bhiwandi |
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Bankers : |
Bank of India, Nehru Place, New Delhi – 110 019, India |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Jayant Gandhi Associates |
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 |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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600.000 |
500.000 |
Expected Sales (2008-09): Rs. 750.000 millions
LOCAL AGENCY
FURTHER INFORMATION
Notes:-
· The concern is also engaged in the field of project execution involving Design, Fabrication and Erection of Heavy Industrial Structures, Storage Vessels, etc.
WEBSITE DETAILS:-
Historical Characterisation
The concern has been
promoted as a light Engineering Unit in the Year 1980 primarily to cater to the
needs of Construction Industry and Heavy Earth Moving Machinery Manufactures through
supplies fabrication of Structures including their erection.
The promoter, Mr.
J.A. GANDHI, has Masters Degree in Structural Engineering from Stanford
University, U.S.A., is also a promoter of the Architecture and project
Consultancy firm of M/s. JAYANT GANDHI ASSOCIATES.
The Chief Executive
Officer, Mr. RAGAN J. GANDHI, is a Management Graduate from Barry University,
U.S.A and is assisted by professionally qualified and trained Managerial ad
Engineering Personal.
Over the years the
Concern grew and expanded its
activities into full fledged manufacturing of construction Machinery by
obtaining transfer of technology from renowned European Concern viz., MANITOU BF, of France, who are the
manufactures of the world renowned range of MANISCOPIC Handlers and Mobile
Tower Cranes, used in the construction of High Rise Apartment, Industrial and
Bridge Construction etc., where the requirement of quick and fast response is
mandatory for safe and efficient material handling.
Their esteemed
Customers include several large construction companies engaged in development
of multi-story building complexes, Structural Erection Contractors for steel,
cement and other industries both in the private as well as public sector.
Alpha Services has
also been appointed as authorized dealer for M/s. Escorts Construction
Equipment Limited, India to sell all the products being manufactured by them
along with their after sales service and supply of spare parts in the National
Capital Region of Delhi.
The Concern is also engaged in the field of project
execution involving design, fabrication and erection of Heavy Industrial
Structures, Storage Vessels etc.,
The Concern has
recently bagged few contracts for fabrication and erection of steel works for
Delhi Metro Project, Delhi. Under these Concerns has successfully carried out
6000 M.T. of fabrication / erection work.
The Concern has
dedicated and self-motivated staff who has a rich experience in fabrication and
erection of steels works.
Manufacturing
a) Mobile Tower
Crane Model SP- 453
b) Mini Dumpers Model DH - 15 and DH - 15P
c) Mini Transit Mixer Model DH - 15H
Fabrication and
Erection
During the
financial year 2002-2003 Concern has been awarded the work of fabrication and erection
of 6000 M.T. of steel to be used in struts and bridge for Delhi Metro Project,
Delhi.
The Concern has successfully carried out 80%
of the work till March 2003, balance 20% is expected to be completed during the
same financial year only.
TRADING
Marketing Representation
Construction Machineries.
a)
Batching Plant of OFFICINE PICCINI, Italy
b) Mini Transit Mixers and Mini Dumpers of AGRIA HISPANIA, SPAIN
c) Tower Crane Model SG 20 - 25 of SOIMA.
d) Motor Graders and Concrete Pumps of Sany Heavy Industry Limited, China.
Authorized Dealers
· Escorts Construction Equipment Limited , India
· Alpha Sp 453 Crane
· Sany Heavy Industry Limited Concern
· Sany Trailer Concrete Pumps, Truck - Mounted Concrete Pumps
· 3369 and 4069 Le Series, Electric Scissor Lifts
·
400 Series and
450a series II
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.37 |
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UK Pound |
1 |
Rs.78.09 |
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Euro |
1 |
Rs.63.41 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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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53 |
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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