MIRA
INFORM REPORT
|
Report Date : |
23.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
TALSANIA ENGINEERING WORKS |
|
|
|
|
Registered Office : |
11/12, Anindra Estate, Near Ambika CTM Cross Road, Amrawadi, Ahmedabad,
Gujarat |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2008 |
|
|
|
|
Year of Establishment : |
1981 |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Manufacturer of Air Compressor. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1000 |
|
|
|
|
Status : |
Small Concern |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a small concern having steady business. 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
|
Name : |
Mr. Paresh |
|
Designation : |
Son of Proprietor |
|
Contact No.: |
91-9427631714 |
|
Date : |
01.09.2008 |
|
|
|
|
Name : |
Mr. Dharmesh |
|
Designation : |
Accountants |
|
Contact No.: |
91-9427606203 |
|
Date : |
01.09.2008 |
LOCATIONS
|
Registered Office : |
11/12, Anindra Estate, Near Ambika CTM Cross Road, Amrawadi,
Ahmedabad, Gujarat, India |
|
Mobile No.: |
91-9825394511 |
|
Area : |
450 Sq. ft. |
|
Location : |
Rented |
|
|
|
|
Factory : |
Plot No. 23, Nilson Compound, opp Madhu Industries, Phase I, GIDC,
Vatva, Ahmedabad – 380 026, Gujarat, India |
|
Tel. No.: |
91-79-29295167 |
|
Fax No.: |
91-79-25851819 |
|
Area : |
651 Sq. Mt. |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Narayanbhai Govindbhai Talsania |
|
Designation : |
Proprietor |
|
Mobile No.: |
91-9427631714 |
|
Date of Birth/Age : |
58 Years |
|
Qualification : |
D.P. and M.E. |
|
Experience : |
30 Years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Air Compressor. |
|
|
|
|
Products : |
Air Compressor and Spares |
|
|
|
|
Terms : |
|
|
Selling : |
Credit (30 days / 60 days / 90 days) – 40% to 50% Advance |
|
|
|
|
Purchasing : |
Credit (30 days) – Cheque |
GENERAL
INFORMATION
|
Customers : |
·
End Users ·
OEM’s ·
Distributors |
|
|
|
|
No. of Employees : |
8 (In Office 2 and In Factory 6) |
|
|
|
|
Bankers : |
Dena Bank, Amrawadi Branch, Ahmedabad |
|
|
|
|
Facilities : |
The concern does not enjoy facility from it’s bank. |
|
|
|
|
Banking
Relations : |
- |
|
|
|
|
Auditors : |
|
|
Name : |
Piyush Shah and Company Chartered Accountants |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.0.200 million (Estimated) |
|
Borrowed : |
- |
|
Total : |
Rs.0.200 million (Estimated) |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
|
31.03.2008 |
|
Sales Turnover |
|
|
1.600 |
Expected Sales (2008-09) : Rs.2.000 millions
LOCAL AGENCY
FURTHER INFORMATION
Trade References
·
Deep Industries Limited – Sabarmat, Ahmedabad
·
India Iron Exchange - Ahmedabad
Web Details
Subject is a prominent
manufacturer and exporter of IR Replacement
Spares and Real brand Air Compressor. In 1981, they joined the
business as Original Equipment supplier of IR. Soon after establishment, as a result
of rapid growth, they started manufacturing complete air compressor unit up to 30 HP and replacement
spare parts for IR type air
compressor.
They manufacture air compressors and spares
according to technical data and fully utilize the well-equipped workshop along
with skilled workers. The quality of the range of air compressors and spares match the international
parameters of judgement.
The strength lies in the strong infrastructural set-up. Best machinery and
equipments have been implanted to avoid any type of obstacle during the
production procedure. Proper testing arrangements ensures that every piece
should be perfect and defect free. The motto is to meet the deadlines and
deliver the consignments on time.
Result oriented approach has provided them the capability to manufacture air
compressors and spares of high quality. The vast experience of last two
decades has provided them the expertize in manufacturing highly reliable air compressors and spares.
Over the years, they have achieved a phenomenal growth rate and have expanded
the network. As they are progressing, they are making the best efforts to
retain the commitment to quality and
customer satisfaction. They have gained a lot of experience and highest level
of excellence in the product quality. Today, many corporate giants all over the
country confidently use the range of air
compressors and spares.
They have set customer satisfaction as the criteria to judge the own
performance and the quality of air
compressors and spares. The
uncompromising attitude and prompt after-sales-services has been patronized by
many corporate clients and helped them in getting repeated business.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.40 |
|
UK Pound |
1 |
Rs.83.15 |
|
Euro |
1 |
Rs.65.74 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|