MIRA
INFORM REPORT
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Report Date : |
19.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
PATEL ENTERPRISES |
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Registered Office : |
113,1st Floor, Ostwal Plaza,
Air Port Road, Sunderwas, Udaipur-313001 |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1990 |
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Service Tax Registration No.: |
604/ST/BAS/MRS/2005 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
0837395918 |
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PAN No.: [Permanent
Account No.] |
ABEPP9750D |
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Legal Form : |
Sole Properietory Concern |
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Line of Business : |
Consultation Design, Fabricate and Commissioning of Plants for
Industries. |
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 business.
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. Shiv Kumar |
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Designation : |
Manager |
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Date : |
13.09.2008 |
LOCATIONS
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Registered Office : |
113,1st Floor, Ostwal Plaza, Air Post Road, Sunderwas,
Udaipur – 313 001, Rajasthan, India. |
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Tel. No.: |
91-294-2655235 / 3261982 |
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Mobile No.: |
91-9828101982 / 9828591177 |
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Fax No.: |
91-294-2411540 |
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E-Mail : |
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Website : |
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Area : |
600 sq ft (Owned) |
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Factory : |
209,Road No.4, Subhas Nagar, Udaipur -313001, Rajasthan, India. |
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Tel. No.: |
91-294-2411946 |
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Area : |
2000sq mt (Owned) |
SOLE PROPRIETOR
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Name : |
Mr. R.L.Patel |
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Designation : |
Proprietor (Chief Executive Officer) |
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Date of Birth/Age : |
48 Years |
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Qualification : |
Machanical Engineer |
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Experience : |
22 Years |
KEY EXECUTIVES
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Name : |
Mr. Shiv Kumar |
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Designation : |
Manager |
BUSINESS DETAILS
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Line of Business : |
Consultation Design, Fabricate and Commissioning of Plants for
Industries |
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Products : |
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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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Customers : |
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No. of Employees : |
18 |
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Bankers : |
ICICI Bank Limited, Udaipur, Rajasthan-313001, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Not Available |
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Associates/Subsidiaries : |
Patel Phoschem Private Limited |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.500 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 1.500 Millions |
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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10.000 |
9.000 |
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Profit/Loss for the year |
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12% |
12% |
Expected Sales (2008-09) : Rs. 20.000 Millions
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Details |
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Existence Verification |
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Name |
PATEL ENTERPRISES |
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Address |
113,1st Floor, Ostwal Plaza, Air Post Road, Sunderwas,
Udaipur – 313 001, Rajasthan, India |
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2nd address |
209,Road No.4, Subhas Nagar, Udaipur -313001, Rajasthan, India. |
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Statutory Approvals |
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Legal Status of Firm |
Proprietorship Company |
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Income Tax Registration |
ABEPP9750D |
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Service Tax Registration |
604/ST/BAS/MRS/2005 |
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VAT/ TIN Registration |
*0837395918 |
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Name of Bank |
ICICI Bank Limited, Udaipur, Rajasthan-313001, India |
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Credibility Factors |
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IndiaMART Client Since |
*1990 |
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Years of Establishment |
Rs. 10.000 Millions |
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Turn Over |
*2008 |
AS PER WEBSITE
The Enterprises is promoted by Mr. R.L. Patel, the Proprietor who has
completed 25 years for development, manufacturing, application and consultation
of various industries. He has made outstanding contribution to the national development
through emphasis and self-reliance. It is due to his highly dedicated efforts
during 25 years, Patel Enterprises became virtually self-sufficient to design,
fabricate and commissioning of entire plants individually with advance
technology.
Sister Concern : M/s Patel Phoschem Private Limited
The company is engaged in production and maintenance contract of SSP,
GSSP, NPK and Benification Plants. they also undertake Plant designing.
The Set Up
The designing, manufacturing, fabrication and consultation facilities
are in Udaipur District (Rajasthan). They have a big workshop with latest
technological equipments and sufficient highly qualified manpower. They have
facility to fabricate 400 MT materials per month at the unit. They are
designing, manufacturing / fabricating and rendering consultation for
Fertilizer Plants like Super Phosphates, N:P:K, etc. on turn key basis and for
various other mechanical machineries. They have facility to fabricate and erect
about 800 MT materials per month at site, with the help of highly qualified
manpower. They are well capable for running the fertilizer plant on contract
basis with minimum maintenance by highly qualified manpower.
The Dealings
They are designer, manufacturer, supplier and consultant for the Fertilizer
Plant on turn key basis. They are designer, manufacturer, supplier and
consultant for the various mechanical equipments (to be used in chemical
plants) They are designer, manufacturer, supplier and consultant for material
handling equipments. They are designer manufacturer, supplier and consultant
for dusting and pollution systems (Cyclone, Blower, Dust Collector etc.)
Infrastructure
The
cutting-edge technology knotted with skilled and diligent team augments the
capabilities to design, manufacture, fabricate and provides prompt solutions
The designing, manufacturing, fabrication and consultation facilities are in
Udaipur District (Rajasthan). They have a big workshop with latest
technological equipments and sufficient highly qualified manpower. They have
facility to fabricate 400 MT materials per month at the unit. They are
designing, manufacturing / fabricating and rendering consultation for
Fertilizer Plants like Super Phosphates, N:P:K, etc. on turn key basis and for
various other mechanical machineries. They have facility to fabricate and erect
about 800 MT materials per month at site, with the help of highly qualified
manpower. They are well capable for running the fertilizer plant on contract
basis with minimum maintenance by highly qualified manpower.
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.46.71 |
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UK Pound |
1 |
Rs.85.12 |
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Euro |
1 |
Rs.66.98 |
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 |
YES |
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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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