MIRA
INFORM REPORT
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Report Date : |
02.08.2011 |
IDENTIFICATION DETAILS
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Name : |
PNEUMA HYDROMATICS |
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Registered
Office : |
Plot No. 19, Lakshmi Nagar, Near Joy Bell School, Chennai - 600056,
Tamil Nadu |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Year of
Establishment : |
2008 |
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Capital
Investment / Paid-up Capital : |
Rs.5.500 Millions |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business
: |
Manufacturers of Accessories, Air Tools, Clamping System, Industrial Valves, Pneumatic Control System, Pneumatic Cylinders, Pneumatic Product, Importers of valves from ODE Srl, Italy. |
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No. of Employees
: |
15 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (44) |
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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 22000 |
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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 reported as 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
|
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. S Suresh Kumar |
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Designation : |
Proprietor |
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Contact No.: |
91-9790975163 |
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Date : |
29.07.2011 |
LOCATIONS
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Registered Office : |
Plot No. 19, Lakshmi Nagar, Near Joy Bell School, Chennai - 600056, Tamil
Nadu, India |
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Mobile No.: |
91-9790975163 (Mr. S Suresh Kumar) |
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E-Mail : |
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Website : |
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Factory 1 : |
223A New tiny sector, Ambattur Industrial estate, Madras, Chennai – 600058, Tamil Nadu, India |
SOLE PROPRIETOR
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Name : |
Mr. S Suresh Kumar |
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Designation : |
Proprietor |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Accessories, Air Tools, Clamping System,
Industrial Valves, Pneumatic Control System, Pneumatic Cylinders, Pneumatic
Product, Importers of valves from ODE Srl, Italy. |
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Agencies Held: |
ODE Srl, Italy Registered Office and Factory: Borgofrancone Street,
18 - 23823 Colico (LC) Fax +39.0341.930844 |
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Imports : |
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Products : |
Valves |
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Countries : |
Italy |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
L/C, Credit |
GENERAL INFORMATION
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Customers : |
End Users |
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No. of Employees : |
15 (Approximately) |
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Bankers : |
State Bank of India, Ambattur, Chennai – 600058, Tamilnadu, India |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.5.500 Millions (Approximately) |
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Borrowed : |
-- |
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Total : |
Rs.5.500 Millions (Approximately) |
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 (Approximately) |
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30.000 |
The above information has been parted by Mr. S Suresh Kumar
(Proprietor).
Note : Sole Proprietory and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry
Records.
LOCAL AGENCY FURTHER INFORMATION
PROFILE:
This is a proprietorship firm started in the year 2008. The proprietor is one Mr S Suresh Kumar. The firm was started for the manufacture and supply of Pneumatic components, Pneumatic control systems, industrial valves and other air tools. The factory is situated in Ambattur the address of which is given below. The firm does not do any exports. They supply all over India. Apart from the manufacturing activities the firm is also an importer from:
ODE Srl, Italy
Borgofrancone Street, 18-23823 Colico (LC)
Tel +39.0341.930570 - Fax +39.0341.930844
Commercial
and Administrative Offices:
Via Modigliani, 45 , 20090 Segrate (MI),
Sales: Tel +39.02.715429
Fax +39.02.715144
Administration: Tel +39.02.21872477
Fax +39.02.21870431
The firm imports the following materials (mostly valves for industrial applications) from ODE Srl for distribution all over India.
·
General
Purpose Solenoid
·
Solenoid
technopolymer
·
Solenoid
pinzatubo
·
ATEX
solenoid
·
High
pressure solenoid valves
·
Air
Operated Valves
·
Solenoid
valves for gas fuel
·
Accessories
·
Coils
·
Vibration
pumps
While the valves they
manufacture have a good demand in small scale industries, the larger industries
use the custom made valves from ODE.
They have a very good demand for the ODE valves. Combining both the
manufacturing activities and the distributing activities the firm nets a
turnover of about Rs.30.000 Millions annually.
They employ about 15 people in their factory. Their bankers are State Bank India, Ambattur
Branch, Chennai 600058. The firm has a
good reputation in the industry and since they are the only importers in South
India for ODE they cater to a large number of industries in South India. A medium sized firm that has a good clientele
and a good reputation.
There is no way to
assess the financial strength of the firm.
Caution advised in all financial dealing with them.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.04 |
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|
1 |
Rs.72.40 |
|
Euro |
1 |
Rs.63.46 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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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 |
|
44 |
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 |
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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 |
|
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 |
|
- |
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.