MIRA
INFORM REPORT
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Report Date : |
18.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
MAX ENGINEERS |
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Registered Office : |
S -180, MIDC, Bhosari, Pune – 411 026, 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 : |
1994 |
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PAN No.: [Permanent
Account No.] |
ADBPR77427 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Exporter
of Equipments for Screw Feeder, Sliding Gate, Crushers, Vibrating Screens,
Reciprocating Feeder, Belt Conveyor and Magnetic Separators |
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 25000 |
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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
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Name : |
Mr. Atul Gaikwad |
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Designation : |
Finance Department |
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Date : |
02.09.2008 |
LOCATIONS
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Registered Office / Factory: |
S -180, MIDC, Bhosari, Pune – 411 026, Maharashtra, India |
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Tel. No.: |
91-20-27129060 |
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Mobile No.: |
91-9326970336 |
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Fax No.: |
91-20-27129060 |
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E-Mail : |
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Area : |
15000 Sq.fts |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Louis Rodericks |
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Designation : |
Proprietor |
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Address : |
48 years |
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Date of Birth/Age : |
Engineers |
KEY EXECUTIVES
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Name : |
Mr. Atul Gaikwad |
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Designation : |
Finance Department |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and
Exporter of Equipments for Screw Feeder, Sliding Gate, Crushers, Vibrating Screens,
Reciprocating Feeder, Belt Conveyor and Magnetic Separators |
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Products : |
· Screw Feeder · Twin Drum Feeder · Sliding Gate · Bed Ash Cooler · Crusher · Rotary Feeder Other Products · Drag Chain Feeder · Reciprocating Feeder · Dampers · Silos · Storage Tank · Magnetic Separator · Vibrating Screen Boilers · Ancillaries Stone Crushers · Vacuum Crystallizers · Belt Conveyors · Screw Conveyors |
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Exports : |
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Products : |
Engineering Products |
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Countries : |
Philippines, Europe |
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Terms : |
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Selling : |
Credit (30 days) |
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Purchasing : |
Credit (30 days) |
GENERAL
INFORMATION
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Customers : |
End users |
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No. of Employees : |
110 (10 in Office and 100 in Factory) |
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Bankers : |
· Syndicate Bank, Chinchwad, Maharashtra, India · Punjab National Bank, Bhosari, Maharashtra, India |
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Facilities : |
Cash Credit – Rs. 2.500 millions (Syndicate Bank) |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Amte and Company Chartered Accountants |
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Address : |
Pune, Maharashtra, India |
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Associates/Subsidiaries : |
Karan Industries, Pune, Maharashtra, India |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 5.000 millions (Estimated) |
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Borrowed : |
--- |
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Total : |
Rs. 5.000 millions (Estimated) |
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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80.000 |
Expected Sales (2008-09): Rs. 150.000 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 |
MAX ENGINEERS |
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Statutory Approvals |
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Legal Status of Firm |
Proprietorship Firm |
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VAT / TIN Registration |
27750002882V Date : 01.04.2006 |
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Excise Registration |
ADBPR7742JXM 001 |
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Name of Bank |
Punjab National Bank |
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Current account Number |
2110784 |
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Account Since |
1994 |
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Creditability Factors |
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India Mart Client Since |
2 years |
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Trade Affiliations |
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SSI Registration |
050750 Date : 07.06.1995 |
TRADE REFERENCE:-
· Cameron Industries, Mumbai, Maharashtra, India
· Mahamaya Industries , Raipur, Maharashtra, India
WEBSITE DETAILS:-
Concern Profile
They are reputed
manufacturer and exporter of high performance equipments for screw feeder,
sliding gate, crushers, vibrating screens, reciprocating feeder, belt conveyor
and magnetic separators. Their focus is on manufacturing and creating
state-of-the-art products that offer exceptional performance and customized
solutions for a wide range of industrial applications. They are geared to excel
in this industry by keeping pace with the advancing technologies and changing
customer requirements. Having complete understanding of the advancements in the
field of technology, they regularly update their machines and processes. They
are equipped with the latest facilities and have their own sophisticated
manufacturing set up and testing laboratory.
Committed to provide products,
services, and value-added benefits that are critical for continuous
optimization and improvement of product development functions.
Products
Manufacturer and exporter of high performance equipments for screw feeder,
sliding gate, crushers, vibrating screens, reciprocating feeder, belt conveyor
and magnetic separators. Regularly update their machines and processes.
Infrastructure : They have a wide range of facilities
available with them.
Team : Their team comprises of highly qualified, skilled and trained
professionals. All technicians are inducted intensive theoretical and practical
training in different areas. Their design personnel are also highly qualified
people, with expertise in mechanical equipments. They are exposed to latest
developments through technology seminars and interactions with manufacturers
and collaborators, from time to time.
Quality Products : Their product, by far, are amongst the best in the
industry. They have created a demand for themselves in domestic as well as
international markets.
Competitive Prices : Their efficient process and in depth knowledge on
the subject translates into lower production costs. This cost benefit is
further passed on to their clients. Subject area is 13,500 sq.ft. and is in
business since 1994 and Karan Industries area is 30,000 sq.ft. and would be
operating from May 2006
The concern area is 13,500 sq.ft. and is in business since 1994 and KARAN
Industries area is 30,000 sq.ft. and would be operating from May 2006.
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.46.34 |
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UK Pound |
1 |
Rs.82.96 |
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Euro |
1 |
Rs.65.82 |
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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