MIRA
INFORM REPORT
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Report Date : |
09.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
ADMIR OVENS |
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Registered Office : |
Kanara Business Centre, 213, B Wing, 2nd Floor, Laxmi
Nagar, Ghatkopar (E), Mumbai– 400075, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 (Estimated) |
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Year of Establishment : |
1987 |
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PAN No.: [Permanent
Account No.] |
AAKFA0766D |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturer of Bread Making and Baking Machines, Baking Machines,
Biscuits Making Machines, Biscuit Packing Machines and Packaging Machines. |
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 : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed concern having satisfactory
track. Trade relations are fair. Business is active. Payments are reported as
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 : |
Ms. Jyoti |
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Designation : |
Accountants |
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Date : |
25.08.2008 |
LOCATIONS
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Registered Office : |
Kanara Business Centre,
213, B Wing, 2nd Floor, Laxmi Nagar, Ghatkopar (E), Mumbai– 400075,
Maharashtra, India |
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Tel. No.: |
91-22-25007860 / 2500 7696 |
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Mobile No.: |
91-9820786819 (Mr. Rizwan Khan) |
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Fax No.: |
91-22-2500 7696 |
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E-Mail : |
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Website : |
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Area : |
750 Sq.fts |
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Location : |
Owned |
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Factory 1: |
B-8/1, Industrial Area, Site No.1, Jalalbad, Lucknow Road, Faizabad,
Uttar Pradesh, India |
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Factory 2: |
Plot No. 137, Turbe, Thane –
Belapur Road, Maharashtra, India |
PARTNERS
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Name : |
Mr. Rizwan Khan |
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Designation : |
Partner |
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Date of Birth/Age : |
31 years |
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Qualification : |
B.Com |
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Name : |
Mr. Imran Khan |
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Designation : |
Partner |
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Age : |
30 years |
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Qualification : |
B.Com |
KEY EXECUTIVES
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Name : |
Ms. Jyoti |
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Designation : |
Accountants |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Bread Making and Baking Machines, Baking Machines, Biscuits
Making Machines, Biscuit Packing Machines and Packaging Machines. |
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Exports : |
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Countries : |
South Africa, Gulf Countries |
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Terms : |
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Selling : |
Credit (50 days) |
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Purchasing : |
Credit (21 days) |
GENERAL
INFORMATION
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Customers : |
Wholesalers, Retailers |
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No. of Employees : |
65 (15 in Office and 50 in Factory) |
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Bankers : |
· HSBC, Chembur, Mumbai, Maharashtra, India · State Bank of Hyderabad, Thane, Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Nishikant and Company Chartered Accountants |
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Tel. No.: |
91-22-28516161 |
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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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15.000 |
Expected Sales (2008-09): Rs.20.000 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 |
ADMIR OVENS |
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Statutory Approvals |
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Legal Status of Firm |
Partnership Firm |
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VAT / TIN Registration |
27320239750 |
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Import Export Code |
0302030921 |
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Name of Bank |
HSBC Bank |
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Current account Number |
005261417001 |
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Standards and Certifications |
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Quality Management Systems |
ISO 22183875 Date
01.04.2004 |
TRADE REFERENCES:-
· Riddhi Siddhi Corporation
· Saw Electrical Corporation
WEBSITE DETAILS:-
Concern Profile
Subject was founded 25 years ago by Mr.
Quayum Khan. Today subject is the biggest quality industrial oven manufacturer
in India manufacturing all types and all sizes industrial plant, Fully
Automatic Diesel or Gas Fired (Indirect) Travelling Ovens for all varieties of
quality biscuits/bread/rusk (Toast) baking according to International standards
to produce both hard and soft dough variety biscuits to any capacity for a
varied variety like sweet, salty, Marie, thin arrow root, cream crackers,
Enzyme crackers and all sorts of cookies etc. The temperature profile for each
variety of biscuits, bread, rusk (Toast) etc. is automatically maintained as
per requirements.
It also manufactures Tin/Metal
decorating Barrel/Pan Masala, Drying oven etc.
Subject is more efficient and economical in all respects i.e. Baking
performance, fuel consumption, economically priced and most importantly timely
delivery schedule. Due to this their ovens are running all over India and also
abroad to countries like Bangladesh, Nepal, Sri Lanka, Madagascar, Nigeria,
Mozambique, Tanzania, Saudi Arabia, Sharjah (U.A.E.), Somalia, South Africa,
Eretia, Gana, Swaziland.
Biscuit
Making and Baking Machines
· Laminator(Vertical Cut and Lay)
Bread Making
and Baking Machines
· Four Chute Family Pack Machine
· ARP-90 Double Chute Wrapping Machine
· ARP-60 Cream Biscuit Wrapping Machine
· ARP-100 Hotel Pack Wrapping Machine
· ARP-30 Single Chute Family Pack Wrapping Machine
· Pouches
· Laminated Rolls
· Wax Coated Paper
· Horizontal Flow Wrap Packing Machine
· ARP Semi Automatic Volumetric Filling Machine
· ARP Semi Automatic Auger Filler Machine
· ARP Foot Operated Heat Sealer
· ARP Hand Operated Sealing Machine
· ARP Semi Automatic Volumetric Cup Filler System
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.12 |
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UK Pound |
1 |
Rs.79.60 |
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Euro |
1 |
Rs.63.83 |
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 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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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 |
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 |
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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48 |
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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