MIRA
INFORM REPORT
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Report Date : |
09.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
UNIQUE ENGINEERING |
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Registered Office : |
T S -16, SIDCO Industrial Estate, Kurichi, Coimbatore - 641 021, Tamil Nadu |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
2000 |
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IEC No.: |
3208002971 |
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PAN No.: [Permanent
Account No.] |
AABFU7843G |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturer and Importer of different kinds of Mechanical Seals,
Gaskets, etc. |
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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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 steady business. Trade
relations are fair. General financial position is satisfactory. 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. D Saravanan |
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Designation : |
Managing Partner |
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Contact No.: |
91-9842221126 |
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Date : |
26.08.2008 |
LOCATIONS
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Registered Office / Factory : |
T S -16, SIDCO Industrial Estate, Kurichi, Coimbatore - 641 021, Tamil Nadu, India |
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Tel. No.: |
91-422-2672757 |
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Mobile No.: |
91-9842221126 (Mr. D
Saravanan) |
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E-Mail : |
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Area : |
600 Sq.fts |
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Location : |
Leased |
PARTNERS
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Name : |
Mr. K P Doraisamy |
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Designation : |
Partner |
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Date of Birth/Age : |
58 years |
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Qualification : |
SSC |
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Experience : |
30 years |
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Name : |
Mr. D Saravanan |
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Designation : |
Managing Partner |
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Date of Birth/Age : |
28 years |
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Qualification : |
Diploma In Air Conditioners |
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Experience : |
4 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Importer of different kinds of Mechanical Seals,
Gaskets, etc |
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Products : |
· Carbon Mechanical Seals · Tungsten Carbide Mechanical Seals · Silicon Carbide Mechanical Seals · Cartridge Seals · Ceramic Mechanical Seals · Mechanical Seals for Paper Industry · Mechanical Seals for Process Industry · Stainless Steel Mechanical Seals · Pump Mechanical Seals · Crane Mechanical Seals · Mechanical Shaft Seals |
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Terms : |
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Selling : |
Credit (30 days) |
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Purchasing : |
Cash, Credit (30 days) |
GENERAL
INFORMATION
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Suppliers : |
· Sri Mahadeval Metals, Coimbatore and Mumbai, Maharashtra · Unique Engineers, Mumbai, Maharashtra · Mowlik Rubber Industries, Mumbai, Maharashtra |
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Customers : |
· Hatsun Agro Foods, Salem / Tamil Nadu · Salem Coop. Sugar Mills, Namakkal / Tamil Nadu |
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No. of Employees : |
Around 10 |
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Bankers : |
Indian Overseas Bank, Kurichi, Tamil Nadu, India |
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Facilities : |
The concern reported to enjoy Cash Credit facility from its banker. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
SSR and Company (Mr. Shankar Narayan) Chartered Accountants |
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Address : |
Ramnagar, Tamil Nadu, India |
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Mobile No.: |
91-9842217208 |
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Memberships : |
Coimbatore District Small Scale Industries Association |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
Not Available |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 (Estimated) |
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Sales Turnover |
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3.200 |
Expected Sales (2008-09): Rs.4.000 millions
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Detail |
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Existence Verification |
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Name |
UNIQUE ENGINEERING |
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Statutory Approvals |
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Legal Status of Firm |
Partnership Firm |
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Income Tax Registration |
AABFU7843G |
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Central Sales Tax Registration |
287122 / 095 |
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State Sales Tax registration |
04123/02/2008 |
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VAT / TIN Registration |
33261802645 |
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Import Export Code |
3208002971 |
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Name of Bank |
Indian Overseas Bank |
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Current account Number |
1266 |
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Account Since |
5 years |
TRADE REFERENCES:-
· Manihandle CSV, Coimbatore, Tamil Nadu, India
· Axen Agro Products
WEBSITE DETAILS:-
Concern Profile
The concern is the name that was coined in 2000. The concern is a manufacturing
venture, dealing in an assortment of Mechanical Seals that are used in
diversified industries.
The concern has memberships like SSI, CODISSIA and CII which are in process.
Their product range is used by many corporate organizations, in and around
Coimbatore. For designing the seals, they have a qualified and diligent team of
professionals.
Their future plan includes productivity enhancement and technological
up-gradation. They follow DIN and API standards in their organization. Their
personnel work with their esteemed clients at every stage of the manufacture
process.
Product Profile
They manufacture their product range with the high quality base
materials. Mechanical Seals For Dyeing Industry, Paper Industry, Dairy,
Chemical Industry, Water Treatment Plants, Distillaries, Sugar Industry,
Breweries and Cement Industry form the array of their products. Salient
features of the product array include:
· High Quality
· Durability
· High Strength
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Cater Numerous Industries 
Industries Catered
They cater their vast product array to various industries including
following:
· Dyeing
· Paper
· Civil
· Dairy
· Chemical
· Water Treatment Plant
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Distilleries 
Raw Material
The popularity of their spectrum of mechanical seals is particularly due
to its quality and durability, which are a result of top class and tested raw
materials themed to manufacture them. These raw materials are sourced from
top-notch suppliers. Different raw materials used by them are as follows:
· Stainless Steel
· Hastalloy
· Monel
· Tungsten Carbide
· Silicon Carbide
· Carbon
· Ceramics
·
Viton and Silicon O-rings 
Management
Structure
Their CEO's form the proficient top management and they have over a
decade of experience in the manufacture of mechanical seals. Their sound
knowledge in designing these seals is simply astonishing. They are fully
supported by their team of qualified, knowledgeable and expert professionals.
They have the responsibility for manning different aspects of their production
process. Their wide industry experience allow them to deliver their pumps
mechanical seals in standard as well as customized specifications as per the
demands of their trustworthy clients to keep them updated with the changing
industry innovations, they organize regular training programs. These programs
also assist in enhancing their skills with the assistance of their manpower and
machines they have attained a high annual turnover. 
Manufacturing
Facility
They possess a sound infrastructure that includes a manufacturing plant
which is well equipped with latest sophisticated machinery. This enables them
to produce durable and corrosion free mechanical seals. All their production
activities are coordinated by various departments like administration,
production and marketing. They also use effective and modern technologies in
their production operations. In addition, use of international standard
machines allows them to offer high performance products. Some of the machines
used in their plant include:
· Lathe Machine
· Milling Machine
· Drilling Machine
· Lapping Machine
·
Grinding Machine 
Quality
They operate within well defined and established parameters of quality.
All their quality testing facilities are as per DIN and API standards. They
carefully monitor each stage of the production process, starting from raw
material checks to production completion checks. The final products are put
through stringent testing to confirm their quality and durability.
Different tests done by them are Lapped Faces Checked in Mono Chromatic Light
test and Pressure Test as per their quality standard before the dispatch of the
mechanical seals. 
Value Added
Services
They make sure that their clients do not face any problem because of
them. Consequently, they offer them a couple of value added services to give
them more control over the products. Their value added services include
following:
· They package the consignments according to the specifications of their clients.
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They also provide the option of product samples to
their clients. This service is however paid i.e., the client will have to pay
for receiving their product samples. 
Clients
Over the years, they have served a large number of clients. They have
won their trust, respect and goodwill through their high quality standard
products, strong infrastructure, sound business policies and innovative
technologies.
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.44.89 |
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UK Pound |
1 |
Rs.78.86 |
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Euro |
1 |
Rs.63.33 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
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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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
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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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