MIRA
INFORM REPORT
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Report Date : |
10.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
SMB ENGINEERING WORKS |
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Registered Office : |
B - 82, East Azad Nagar, Opposite of Samani Coal Depot, Gali No.8, New
Delhi – 110 051 |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1996 |
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IEC No.: |
*0505035332 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
*07800191801 |
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PAN No.: [Permanent
Account No.] |
AAXPS3846D |
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Sales Tax No.: |
LC/80/191801/11/96 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter of Auto Self Starter Drives |
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 7500 |
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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. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Yashpal Singh |
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Designation : |
Proprietor |
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Name : |
Mr. Guruvinderpal Singh |
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Designation : |
Chief Executive Officer (Son of Mr. Yashpal Singh) |
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Date : |
18.08.2008 |
LOCATIONS
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Registered Office : |
B - 82, East Azad Nagar, Opposite of Samani Coal Depot, Gali No.8, New
Delhi – 110 051, India |
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Tel. No.: |
91-11-22092174 |
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Mobile No.: |
91-9811257205 / 9810759691 |
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Fax No.: |
91-11-22092174 / 22095174 |
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E-Mail : |
sales@smbengineering works.com |
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Website : |
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Area : |
450 Sq.fts |
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Location : |
Owned |
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Factory : |
J – 391 Kshna Kunj, Delhi -110 001, India |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. Yashpal Singh |
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Designation : |
Proprietor |
KEY EXECUTIVES
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Name : |
Mr. Guruvinderpal Singh |
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Designation : |
Chief Executive Officer (Son of Mr. Yashpal Singh) |
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Date of Birth/Age : |
25 years |
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Mobile No.: |
91-9810759691 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Auto Self Starter Drives |
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Products : |
An ISO 9001 : 2000 Certified Company · Auto Self Starter Drives · Self Drives · Self Starter Car Drives · All Self Starter Drives Pinions · Screw Type Starter Drives · Land Rover Starter Drives · Tatara Self Starter Drives · Barrel Folo Thru Self Starter Drives ·
Migros Pinion Starter Drives ·
Positork Drives · Screw Type Starter Drives ·
Lucas Starter Drives ·
Mico Bosch Starter Drives ·
Starter Drives ·
Tatara Pinion Starter Drives · Land Rover Starter Drives ·
Barrel Folo Thru Prestolites ·
Barrel Folo Thru Facets ·
Barrel Folo Thru's ·
Bosch Starter Pinions |
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Exports : |
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Products : |
· Auto Self Starter Drives · Self Drives · Self Starter Car Drives · All Self Starter Drives Pinions · Screw Type Starter Drives · Land Rover Starter Drives · Tatara Self Starter Drives · Barrel Folo Thru Self Starter Drives |
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Countries : |
Asian Countries |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL
INFORMATION
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Suppliers : |
Own Manufacturing |
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No. of Employees : |
9 |
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Bankers : |
Syndicate Bank, Nirman Vihar, New Delhi – 110 092, India |
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Banking
Relations : |
Satisfactory |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.500 millions (Estimated) |
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Borrowed : |
---- |
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Total : |
Rs. 1.500 millions (Estimated) |
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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7.000 |
6.000 |
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Profit/Loss for the year |
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12% |
12% |
Expected Sales (2008-09): Rs.10.000 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 |
SMB ENGINEERING WORKS |
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Address |
B – 82, East Azad Nagar, Opposite of Samani Coal Depot, Gali No.8, New
Delhi – 110 051, India |
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Phone Numbers |
91-11-22092174 |
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Fax Number |
91-11-22092174 |
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Statutory Approvals |
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Legal Status of Firm |
Proprietorship Concern |
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State Sales Tax registration |
LC/80/19180/11/96 |
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VAT / TIN Registration |
*07800191801 |
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Import Export Code |
*0505035332 |
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Name of Bank |
Syndicate Bank, Nirman Vihar, New Delhi –
110 051, India |
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Creditability Factors |
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Years of Establishment |
1996 |
WEBSITE DETAILS:-
Concern Profile
Established in 1993, the concern is a leading manufacturer and supplier
of precision engineered automobile starter drives. Subject father Sardar Bhupinder Singh has started this
business in 1962, and since those times, with a pace driven by
innovation and a focused quality orientation, they have grown to become a
leader in the manufacture of starter drives in the small scale segment. With excellence
in engineering and innovative practices they cater to the varied requirements
of the automobile industry for high quality components. Over the three decades
of their existence, they have expanded their business and refined their
expertise to become specialists in the production of starter gear assemblies
for the OEM and replacement parts market.
Products
Their products have been widely recognised for their high levels of
performance, efficiency and endurance by their customers and peers. Their product
range includes components that find application in vehicles of leading
automobile brands such as American motors, caterpillar, case, jeep, messy
ferguson, allis-chalmers, gray marine, john deere, chris craft, ihc, ford
tractors and teledyne wisconsin.
Infrastructure
They are equipped with the latest tools and state-of-the-art
manufacturing facilities required for world- class production standards. They have CNC machines, auto lathes and plant
for cold forging. The expanding nature of automobile industry requires a
steady supply of high quality components and parts. At the concern, their
facilities are geared up to meet every possible challenge in the present day
and in the future.
Team
At the concern, an able and skilled team comprising technical analysts,
engineers and quality inspectors manages the entire spectrum of their
operations. With their experience and expertise, they have established a
business model that ensures cost-effective production, enhanced productivity
and optimum utilization of resources.
Innovation
Innovation for them is not restricted merely to the design and
manufacture of products. They seek innovation and progress in everything they
do. Every process, production technique and machinery used by them is subject
to constant evaluation and change to keep up with challenging demands of their
customers in the industry. By maintaining a sustained focus on innovation, they
seek to enhance productivity in their business and in that of their customers
Quality Assurance
The quality certification from modi international of their quality
management and manufacturing systems stands testament to the untiring efforts
they have made to ensure quality in every aspect of their operations. Stringent
quality control mechanism govern every level of production from procurement of
raw material onwards through to final delivery. Their passion for excellence
and commitment to quality guarantees that all products and services lead to
complete customer satisfaction.
Customer Satisfaction
They aim to deliver high quality products at competitive prices with the
aim of satisfying their customers. They look forward to serving the needs of
more customers over the years with high quality products and excellent
services.
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.45.12 |
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UK Pound |
1 |
Rs.79.60 |
|
Euro |
1 |
Rs.63.83 |
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 |
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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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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