MIRA INFORM REPORT
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Report Date : |
19.04.2011 |
IDENTIFICATION DETAILS
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Name : |
APEX TECHNOLOGIES |
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Registered
Office : |
540-B, Hind Nagar, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Year of
Establishment : |
2004 |
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TIN No.: |
09652003146 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business
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Automobile workshop equipment, petroleum retail outlet equipment,
computerized wheel alignment, two post lift tusker, two post hydraulic lift
tusker h, four post lift, multi point oil dispenser, mig welding system
power, plasma cutting system, automatic tyre inflater, air compressor Authorized Service Centre of leading automobile manufacturers like
Maruti TATA Motors, HM, Hyundai Authorized dealer for Indian Oil Corporation Limited, Bharat Petroleum
Corporation Limited, IBP and HPCL. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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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 14000 |
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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 an established concern having satisfactory track. Trade
relations are fair. Business is active. Payments are reported to be usually correct
and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. Maneesh Saxena |
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Designation : |
Manager |
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Contact No.: |
91-9839171808 |
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Date : |
11.04.2011 |
LOCATIONS
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Registered Office : |
540-B, Hind Nagar, |
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Tel. No.: |
91-522-4048543 |
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Mobile No.: |
91-9839171808 (Mr. Maneesh Saxena) |
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Fax No.: |
91-522-2434785 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Work Shope : |
Located at: ·
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Location : |
Owned |
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Branch Office : |
Located at: • Jaipur • • • |
SOLE PROPRIETOR
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Name : |
Mr. Sudhakar Diwedi |
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Designation : |
Proprietor |
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Address : |
E-1/377, Sector H LDA Colony, Alambag, |
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Date of Birth/Age : |
40 Years |
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Qualification : |
B. Tech |
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Experience : |
17 Years |
KEY EXECUTIVES
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Name : |
Mr. Maneesh Saxena |
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Designation : |
Manager |
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Date of Birth/Age : |
40 Years |
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Qualification : |
B. Tech |
BUSINESS DETAILS
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Line of Business : |
Automobile workshop equipment, petroleum retail outlet equipment,
computerized wheel alignment, two post lift tusker, two post hydraulic lift
tusker h, four post lift, multi point oil dispenser, mig welding system
power, plasma cutting system, automatic tyre inflater, air compressor Authorized Service Centre of leading automobile manufacturers like
Maruti TATA Motors, HM, Hyundai Authorized dealer for Indian Oil Corporation Limited, Bharat Petroleum
Corporation Limited, IBP and HPCL. |
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Agencies Held : |
Authorized Service Centre of Maruti TATA Motors, HM, Hyundai |
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Imports : |
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Products : |
Equipments and Instruments |
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Terms : |
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Selling : |
Cash and Credit (30 days) |
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Purchasing : |
L/C, Cash and Credit (30 days) |
GENERAL INFORMATION
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Customers : |
End Users and Others Government
organizations like Indian Army, DMRC, IOCL, BPCL, CFMTTI Dealer
workshop of Maruti, Tata, Hyundai, etc. Authorized tyer shoppes of Apollo Tyres, Bridgestone, Good Year, J.K Tyre, etc. |
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No. of Employees : |
25 (Approximately) |
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Bankers : |
·
State Bank of ·
ICICI Bank Limited, |
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Banking
Relations : |
-- |
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Auditors : |
Not Available |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.3.500 millions (Estimated) |
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Borrowed : |
-- |
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Total : |
Rs.3.500 millions (Estimated) |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2010 |
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Sales Turnover |
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30.000 |
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LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCES:
• Bombardiers Transportation, Vadodara
• Indian Army (Ministry of Defence)
•
WEBSITE DETAILS:
PROFI LE:
In order to achieve the objectives of subject,
they believe that the customer’s requirement should be fulfilled with utmost
satisfaction. They believe in sharing the knowledge, discussing ideas to improve
their services.
Keeping this in mind Subject was incorporated
in April 2004. Since then company has made rapid strides in the North and East
Indian Market. Just in a short span of time, today is a company which is regarded
as a solution provider by its customers.
Subject is dealing mainly in the field of
Automobile workshop and petroleum retail outlet equipments.
They are dedicated for the sales, maintenance
and repairs of all the equipments, supplied by us. As well they also conduct
training programs for mechanics and supervisors, for proper up keeping of the
machines, which has helped them in gaining the confidence of the customers.
Their mission is to be an ethically managed,
socially responsible and professionally organized company.
• Providing the automobile fraternity with
quality service through quality products.
• To establish ourselves as a competent
partner and market leader through a differentiated service support system.
In Apex they have technically well qualified
field staff having good knowledge of all the product range to give first hand
services to the valued customers. They have a long list of valuable customers
including dealers, authorized service centres of leading automobile
manufacturers like Maruti, TATA Motors, HM, Hyundai etc.
In recent time Apex has successfully entered
in the
Apex is authorized dealer for leading brand of
automatic tyre inflator Protech and is the approved supplier of tyre inflator
in Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited, IBP
and HPCL.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.44.27 |
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|
1 |
Rs.72.07 |
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Euro |
1 |
Rs.63.66 |
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 |
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 |
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 |
NO |
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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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46 |
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 |
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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- |
NB |
New Business |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.