MIRA
INFORM REPORT
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Report Date : |
08.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
MICRO MEASURES AND INSTRUMENTS |
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Registered Office : |
444, Arya Nagar, Jagadhri Road, Ambala Cantt, Ambala - 133 001,
Haryana |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Year of Establishment : |
1978 |
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PAN No.: [Permanent
Account No.] |
AABFM40534G |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturer and Exporter of Optical Instruments |
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 6000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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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. Nothing adverse reported The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Atul |
|
Date : |
28.08.2008 |
LOCATIONS
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Registered Office : |
444, Arya Nagar, Jagadhri Road, Ambala Cantt, Ambala - 133 001,
Haryana, India |
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Tel. No.: |
91-171-2663258 / 4005258 |
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Fax No.: |
91-171-4005258 / 2602151 |
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E-Mail : |
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Area : |
2000 sq.fts |
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Location : |
Owned |
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Factory : |
633 Prabhu Prempuram, Ambala Cantt, Haryana, India |
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Area : |
5000 Sq.fts |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. A K Wadhawan |
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Designation : |
Partner |
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Age : |
60 years |
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Qualification : |
Post Graduate |
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Experience : |
30 years |
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Name : |
Mr. N K Kohali |
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Designation : |
Partner |
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Age : |
60 years |
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Qualification : |
Post Graduate |
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Experience : |
30 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Optical Instruments |
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Exports : |
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Products : |
Optical Instruments |
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Countries : |
Bangladesh |
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Terms : |
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Selling : |
Credit (30-60 days) |
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Purchasing : |
Cash, Credit (60 days) |
GENERAL
INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
45 (10 in Office and 35 in Factory) |
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Bankers : |
State Bank of India, Ambala Cantt, Haryana, India |
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Facilities : |
Cash Credit – Rs. 0.600 million |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Gupta Duwa and Associates Chartered Accountants |
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Associates/Subsidiaries : |
Kowa International Address : 444, Arya Nagar,
Jagadhri Road, Ambala Cantt, Ambala - 133 001, Haryana, India Activity: Manufacturer
and Exporter of Optical Instruments |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.163 millions |
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Borrowed : |
--- |
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Total : |
Rs. 1.163 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Partner Capital |
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1.163 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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1.163 |
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LOAN FUNDS |
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1] Secured Loans |
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0.114 |
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2] Unsecured Loans |
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0.534 |
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TOTAL BORROWING |
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0.648 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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1.811 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.000 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
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Sundry Debtors |
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0.000 |
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Cash & Bank Balances |
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0.000 |
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Other Current Assets |
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6.373 |
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Loans & Advances |
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0.192 |
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Total
Current Assets |
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6.565 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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Provisions |
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5.754 |
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Total
Current Liabilities |
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5.754 |
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Net Current Assets |
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0.811 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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1.811 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
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Sales Turnover |
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8.599 |
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Other Income |
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0.008 |
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Total Income |
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8.607 |
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Profit/(Loss) Before Tax |
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0.142 |
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Provision for Taxation |
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0.000 |
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Profit/(Loss) After Tax |
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0.142 |
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Expenditures : |
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Purchases made for re-sale |
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0.769 |
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Salaries, Wages, Bonus, etc. |
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0.267 |
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Interest |
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0.174 |
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Insurance Expenses |
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0.022 |
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Power & Fuel |
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0.047 |
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Depreciation & Amortization |
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0.140 |
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Other Expenditure |
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2.042 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
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PAT / Total Income |
(%) |
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1.65 |
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Net Profit Margin (PBT/Sales) |
(%) |
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1.65 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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1.88 |
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Return on Investment (ROI) (PBT/Networth) |
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0.08 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.80 |
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Current Ratio (Current Asset/Current Liability) |
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1.14 |
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Detail |
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Existence Verification |
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Name |
MICRO MEASURES AND INSTRUMENTS |
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Statutory Approvals |
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Legal Status of Firm |
Partnership Firm |
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Central Sales Tax Registration |
60551018298-C |
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VAT / TIN Registration |
60551018298-V |
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Import Export Code |
3302001771 |
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Name of Bank |
State Bank of India |
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Current account Number |
10333670304 |
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Account Since |
1978 |
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Trade Affiliations |
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SSI Registration |
650105604-PMT |
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Standards and Certifications |
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Quality Management Systems |
ISO
- 9001 : 2000 |
DEALERS:-
· Lawrence and Mayo India Private Limited, Bangalore
· Scientific and General Agencies, Jaipur
· Delux Scientific and Surgical Private Limited, Delhi
Website details:-
The concern is the manufacturers and exporters offering a wide range of
laboratory instruments and other associated products. Their range includes tool
maker microscopes, projection microscopes, centrifuge machines, binocular
microscopes, zoom binocular microscopes, scientific equipments, laboratory
plastic and glassware products.
Subject was established at Ambala Cantt in Haryana in the year 1978; they are
led under the able guidance of Mr. Atul
Wadhawan. His extensive industry experience and dedicated support of
their team helps them in delivering a flawless range of lab equipments.
Today, dedicated approach of their team and certified quality control measures
help them to manufacture comprehensive range of testing laboratory instruments
and equipments. Further the innovative use of production techniques has also
helped them to bring a cut in the production costs and to supply their range in
standard finishes.
Range
They offer a wide range of lab equipments and other associated products
that are well known for providing high accuracy in results. These come in
standard finishes as per specific order requirements of their clients. Finding
application in the laboratories of hospitals and educational institutes their
range includes:
· Tool maker microscopes
· Projection microscopes
· Centrifuge machines
· Zoom binocular microscopes
· Binocular microscopes
· Binocular microscopes
· Scientific equipments
· Lab plastic ware
· Glassware products
Team
They work with a team of expert educationists, skilled technicians and
associated staff who dedicatedly work to provide precision finished range of
lab equipments and other associated glass ware products.
Their skilled technicians help them in achieving flawless finish in their range
with better accuracy and high functionality standards. They also employ
services of experts who observe the changing trends. This helps them to
accordingly design quality equipments that meet the total satisfaction of the
clients.
Quality
With the help of their experienced quality checking team, they
consistently strive towards meeting the diverse needs of their clients and
offer products as per international quality norms.
Manufacturing their products on the basis of international norms of quality and
using high quality steel, titanium, iron, silicon, glass and plastics, they
cater to meet various requirements of their clients. They follow strict quality
control procedure that helps in bringing accuracy and effective functionality
in their range.
Manufacturing
Facility
They have a well developed manufacturing
facilities, which include a large production unit and modern improvised
machineries.
Besides this, they have a team of expert professionals and skilled technicians,
who work hard to deliver an elegant range of microscopes, lab equipments and
other associated products.
Their team manufactures these using CAD facilities that helps them to provide
better design accuracy in their range of instruments and other associated
equipments.
Warehousing and
Packaging Facilities
They have with them spacious warehousing facility, which helps them in providing
adequate storage for both the raw materials used in the processes as well as to
the precision designed lab equipments. For the safety of their range, they also
provide bulk as well as individual packaging. These are done using machines as
well as manually.
Clients
Their expertise in delivering a diverse range of lab equipments and
other associated products has helped them to maintain their leading position in
the global markets. Further, the competitive prices of their range and their
easy availability in the markets has also helped them to earn a large
clientčle.
Why Them?
· Their process expertise backed by team of skilled technicians
· Helps in achieving exact test result
· High performance standards
· Available in standard shapes and sizes
· Timely delivery
· Reasonable market prices
What They Offer
They manufacture a wide array of laboratory equipments and other
associated products that helps in meeting diverse requirements of their
clients. Their expertise and other skilled workforce helps them in delivering a
flawless range of microscopes, centrifuge machines and other glassware and
plastic ware products in standard finishes.
Range includes:
Tool Maker Microscope
They manufacture a wide array of tool maker microscopes that are used in
the laboratories of educational institutions and hospitals. These are available
with X-Y movement on ball bearing slides. These come with the following
features:
· It comes with a micrometer (50mm dia) L.C. 0.01 to 0.005 mm with gouno meter.
· Fixed magnification 30x.
· Has both transmitted and incident light in wooden box
· Helps in better visibility
Projection Microscope KW-500
They offer a wide range of projection microscopes that have 12
volts and 100 watts halogen projection bulb. It works on 220 volts AC mains with
triple revolving nose piece. This nose piece available in 160mm diameter and
comes with wall screen attachment. This provides 40x to 400x magnification
through eye pieces 5x, 10x and 20x.
Centrifuge Machine Dr. Model
They offer a wide array of centrifuge machines that are used in
biological laboratories and helps in practical works. These are hand driven
machines and has the following features
· Comprises of substantial cast base
· Steel pinion
· Worm drive
· Removable crank handle
· Aluminum tubes
· Single speed
· Available with 2 tubes and 4 tubes
Zoom Binocular Microscope
Catering to the application requirements of their clients, they offer a
wide array of zoom binocular microscopes that are used in laboratories of
educational institutions and hospitals. This three dimensional microscope comes
with special high eye point, wide field eye pieces 10x or 15x and para focal zoom
objectives of 1x to 5x. These help in providing continuous variable
magnification from 10x to 150x depending upon the eye pieces and supplementary
lens used. These come with the following features:
· Well designed pole stand
· Have extension pillar,
· 360° revolving zoom binocular head
· 6 volts 21 watts incident spot light eliminator
· Light control transformer
· Extra charges for pair of HWF 10x OR 15x eye pieces
· Supplementary lens attachment 2x or 0.5x or 1.5x
· Built in base illuminator with 6v 20w solid state transformer
Binocular Microscope BM-9bi
They offer a wide range of binocular microscopes BM 9bi that come in
large size and robust structure. These find application in hospitals and
educational institutions and provide complete visibility. Offering these in
Thermocol and wooden packing, this has the following features
Features:
· Comes with head fitted with extra prisms
· Multilayer anti reflection coating on prisms provide optimum performance
· Heavy duty quadruple revolving nose piece
· having ball bearings Co-axial coarse
· 4 stage gear reduction system
· Fine motion knobs
· Built in halogen base 6v-20w halogen light
· Hard coated imported lenses mounted
· Large stage (145x125mm) fitted with mechanical stage having low drive Co-axial knobs travelling on balls.
· Para focalized and pre centerd optics
· Objectives 5x, 10x, 45x (SL), 100x (SL) (Din size) Oil immersion
· Eye piece extra large WF 10x and H 5x (Paired)
· Extra charges for trinocular head instead of binocular head. (Big Prism)
Binocular Microscope BM-8b
They provide a wide range of binocular microscopes that are improved
model and have quadruple nose pieces. These come with the following features:
· Has positive click stops based on balls,
· Rota table binocular head with hard coated prisms,
· Co-axial focusing based on 4 stage gear reduction system,
· Traveling on ball guides,
· Locking device in coarse motion that helps in preventing damages of valuable slides,
· Built in co-axial mechanical stage for slide manipulation,
· Built in light arrangement having 6v-20w halogen lamp
· Solid state variable light control system.
· Pieces H 5x and WF 10x (pairs)
· Objectives 5x, 10x, 45x (SL), 100x (SL) oil immersion
Lab Glassware
They manufacture a wide range of glassware products that are used in hospital
and educational laboratories. Their range include bottles, beakers, sight flow
indicator and others. Their laboratory glasswares are known for quality,
reliability and durability. Manufactured using advanced technology; these
laboratory glasswares are available in latest designs providing an optimum
level of performance. These are available in all kinds of sizes, shapes and
other specifications ordered by their clients. These find application in
hospitals, schools and colleges and come at reasonable market prices.
Lab Plastic ware
With the help of advanced technology and modern machinery, they
manufacture plastic ware products that are used in varied laboratories. These
are available in varied shapes and sizes with durable finish. Their range includes
plastic beakers, plastic bottles, berets, funnels, volumetric flasks, vials,
test tubes, clamps, flasks, measuring cylinders and other similar equipments.
This has the following features:
· Made using best quality plastics
· Disposable and reusable
· Used in micro biology, bio chemistry, hospital and educational labs.
Scientific Equipment
They offer a wide range of scientific equipments that are used in
laboratories of an educational institutions and hospitals. Their range includes
probes, microscopes, scientific and educational kits and others. These come in
both standard and fine finishes. Their expertise and other associated skilled
workforce helps them in offering these in varied diameters and variations.
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 :
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.44.37 |
|
UK Pound |
1 |
Rs.78.09 |
|
Euro |
1 |
Rs.63.41 |
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 |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--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, we have no basis upon which to
recommend credit dealings |
No Rating |
|