MIRA
INFORM REPORT
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Report Date : |
09.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
BAJRANG ENGINEERING WORKS |
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Registered Office : |
B – 51 , G T Karnal Road, Industrial Road, Industrial Area, New Delhi –
110033 |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1957 |
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IEC No.: |
0501013695 dated
June 4, 2001 |
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Tax Identification No. : |
07240055533 |
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PAN No.: [Permanent
Account No.] |
AAAFB7843C |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and
Exporter of Gears, Gear Box, Gear
Couplings, Geared Motors, UJ Cross & Clutch Plates. |
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 37500 |
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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 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
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Name : |
Mr.Sanjay |
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Designation : |
Accountant |
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Contact No.: |
91-9310238960 |
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Date : |
25.08.2008 |
LOCATIONS
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Registered Office : |
B – 51 , G T Karnal Road, Industrial Road, Industrial Area, New Delhi
– 110033 |
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Tel. No.: |
91-11-2713264 / 27461978 |
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Mobile No.: |
91-9811024875 (Mr.Rajan Bajaj) |
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Fax No.: |
91-11-27459563 |
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E-Mail : |
bajranggear@gmail.com |
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Website : |
www.Bajranggear.com |
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Area : |
1000 sq.fts. |
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Location : |
Owned |
PARTNERS
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Name : |
Mr.Rajan Bajaj |
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Designation : |
Partner |
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Address : |
D-3/7,Rana Pratap Bagh,Delhi-110007 |
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Age : |
37 years |
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Qualification : |
Graduate |
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Experience : |
18 years |
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Tel No: |
91-11-27243148 |
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Name : |
Mrs.Krishna Bajaj |
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Designation : |
Partner |
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Address : |
D-3/7,Rana Pratap Bagh,Delhi-110007 |
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Age : |
35 years |
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Qualification : |
12TH Pass |
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Tel No: |
91-11-27243148 |
KEY EXECUTIVES
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Name : |
Mr. Praveen
Kapoor |
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Designation : |
Admin &
Finance |
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Mobile No. : |
91-93100 95935 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and
Exporter of Gears, Gear Box, Gear Couplings,
Geared Motors, UJ Cross & Clutch Plates. |
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Products : |
·
Industrial
Gears ·
Automobile
Gears ·
Helical
Gearbox ·
Shaft
Mounted Gearbox ·
Planetary
Gearbox ·
Worm
Reduction Gearbox ·
Gear
Couplings ·
Geared
Motors
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Exports : |
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Countries : |
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Imports : |
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Countries : |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit (30 to 45 days) |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
45 (in office) |
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Bankers : |
Vazirpur Branch , Delhi ·
Canara Bank,
Wazirpur Branch, New
Delhi (Current A/c No. 8866)
Connaught Place, New Delhi-110
001 |
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Facilities : |
Over draft |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Arora and Associates Chartered Accountant |
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Memberships : |
Engineering Export
Promotion Council (EEPC) |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs. 7.500
Millions |
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Borrowed : |
0.000 |
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Total : |
Rs. 7.500
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 |
60.000 |
55.000 |
50.000 |
Expected Sales (2008-09) : Rs.70.000 millions
LOCAL AGENCY FURTHER
INFORMATION
TRADE REFERENCES:
Haruli Udyog
Limited, Gurguaon (91-11-2346721)
Hero Honda Motors,
Gurguaon (91-11-2372123)
The subject being a
non-incorporated business entity, is not obliged to register itself with any
authorities open to public inspection.
The subject concern was established in 1958 as a Proprietorship Concern
and changed to Partnership Concern with effect from April 1992. The subject concern is an ISO 9001:2000
Certified Concern.
The subject concern is having well equipped manufacturing unit consisting
latest machineries of CNC lathes, Milling Machines, Gear Drilling Machines to
cater the customer’s requirements.
The subject concern is having qualified technical and skilled manpower to
manufacture the said products
Infrastructure:
The subject concern is having latest machinery for Gear Cutting i.e. CNC
Lathes, Millings, Gear Grinding Machines, Gear Hobbing Machine, Gear Shapers,
Rack Generators, Bevel Gear Generators, Broaching Machines, Cylindrical
Grinders, Internal Grinders, Surface Grinders, Slotters, Radial Drills
As per
website
Subject was established in 1957.
They manufacture all kinds of Gears, Shafts, Gears Box, Precise Machinery Spare
parts, Automobile Gear and Components for OEMs and market.
Subject manufactures all these
items as per customer’s specification and drawings and also provides the
services of doing job work for all these items. With a vast experience of over
40 years in this field, they provide their customers the best of quality at
Competitive price.
Concern is having modern plant
equipped with imported machinery for Gear Cutting like Gear Hobbing Machines,
Gear Shaper Machines, Rack Generators, Milling Machines, and Gear Grinding
Machines etc. They also have other Conventional Machines like Lathe,
Shapers Cylindrical Grinders, Slotters, Internal grinders, Surface Grinders,
Broaching Machines etc.
They have in house facility for
various tests and inspection of Gears and other products.
Subject Working on the principles
of ISO9002; believe in Customers Satisfaction in terms of quality products,
competitive price, and timely delivery through Continuous improvements with the
collective team offers of all the employees.
Infrastructure
Production Unit
Concern is having modern plant
equipped with latest machinery for Gear Cutting like CNC lathes, Millings, Gear
Grinding Machines, Gear Hobbing Machine, Gear Shapers, Rack Generators, Bevel
Gear Generators, Broaching Machines, Cylendrical Grinders, Internal Grinders,
Surface Grinders, Slotters, and Radial Drills etc.
They have in house facility for various tests and inspection of Gears and other
products.
A team of Skilled Professionals
BEW design team has considerable knowledge of the problem likely to be
encountered on complicated power transmission applications. Their knowledge
aided by the use of modern computer technology ensures a speedy solution to the
majority of problems.
Quality Assurance
Subject, working on the principles of ISO 9002, believe in Customers
Satisfaction. They strive to achieve the perfection in terms of quality
products, competitive price and timely delivery. Continuous improvements
through collective team effort makes them distinct from the others operating in
their sphere.
USP is :
·
Serving
variety of industries for last 50 yrs.
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Provides
special focus on customer's needs & specifications.
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Provides
computer aided designing facilities for Gears, Gearbox, Geared Motors to their
valued customers.
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Provides special
priority manufacturing facilities to their customers for any of their
breakdowns.
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Undertakes
both prototype & production lots.
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.44.26 |
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UK Pound |
1 |
Rs.79.00 |
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Euro |
1 |
Rs.63.53 |
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 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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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 |
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 |
YES |
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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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54 |
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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