MIRA
INFORM REPORT
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Report Date : |
19.02.2011 |
IDENTIFICATION DETAILS
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Name : |
BULL AGRO IMPLEMENTS |
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Registered
Office : |
S.F. No.200/1 B-6, Trichy Road, Ravathur Pirivu Kannam, Palayam Post,
Coimbatore-641402, Tamil Nadu. |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Year of
Establishment : |
1998 |
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TIN No.: |
33236242594 |
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Legal Form : |
Partnership Concern Unlimited Liability of the Partner. |
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Line of Business
: |
Manufacturer and Distributors of Rotovator Blades, Soil Tillage Tools,
Power Tiller Blades, Front End Loader, Back-Hoe Dozer and Back-Hoe Loader,
Bio Pulverizer, Window Turner and Rice Harvester. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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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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 partnership 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
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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 : |
Miss Nikhila |
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Designation : |
Sales Coordinator |
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Contact No.: |
91-422-2910091 |
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Date : |
18.02.2011 |
LOCATIONS
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Registered Office : |
S.F. No.200/1 B-6, Trichy Road, Ravathur Pirivu Kannam, Palayam Post,
Coimbatore-641402, Tamil Nadu, India |
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Tel. No.: |
91-422-2910091 / 2910080 |
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Mobile No.: |
91-9788867776 / 9443324681 |
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Fax No.: |
91-422-2687435 |
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E-Mail : |
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Website : |
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Factory : |
S.F.No.5/1-A, Trichy Road, L and T, By-Pass Junction,
Coimbatore-641103, Tamil Nadu, India |
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Tel. No.: |
91-422-2270859 / 6586677 / 6586655 |
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Fax No.: |
91-422-2270712 / 2270955 |
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Branches Located At : |
Ahmed Nagar in Maharashtra Kurnool in Andhra Pradesh Calcutta |
PARTNERS
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Name : |
Mr. R. Chandra Mohan |
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Designation : |
Partner |
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Name : |
Mr. R. Parthiban |
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Designation : |
Partner |
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Name : |
Mr. R. Saravanan |
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Designation : |
Partner |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Distributors of Rotovator Blades, Soil Tillage Tools,
Power Tiller Blades, Front End Loader, Back-Hoe Dozer and Back-Hoe Loader,
Bio Pulverizer, Window Turner and Rice Harvester. |
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Imports : |
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Products : |
·
Raw Materials ·
Parts |
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Countries : |
Europe |
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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 : |
·
Retailers ·
End Users |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
ICICI Bank HDFC Bank State Bank of India |
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Banking
Relations : |
-- |
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Auditors : |
Not Divulged |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Divulged |
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Borrowed : |
-- |
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Total : |
Not Divulged |
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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35.000 |
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LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCE :
·
Beri Udyog
·
Gomathi Industries
·
Saraswathi Krishi Udyog
History
This is a
partnership firm started In 1998 by Mr. R Chandra Mohan and his brothers, and
other members of his family
A truly
engineering group, 'Bull Agro Implements' IS a pioneering firm instrumental in
the manufacturing and exporting of a wide gamut of agricultural blades and
farming equipment Serving the diverse process requirements of the agricultural
industry, they are offer multiple products like machined components, special
purpose machines, construction equipment, subassemblies and earth moving
machines.
Founded by Mr. R.
Chandra Mohan, in the year 1998, they have emerged as industry leaders in the
farming sector. Their 15 year old association with Bull Machines (leaders in
earth moving equipment business) has made them capable in offering an
international quality range that complies with European technology.
By adopting latest
process technology and making use of superior grade of steel, they are
fundamental. in manufacturing and exporting of a comprehensive range of
machines and blades for the farming sector. Offered in both standard and
customized specifications, their range comprises Rotovator Blades, Soil Rllage
Tools, Power Tiller Blades, Front End Loader, Back-Hoe Dozer and Back-Hoe
Loader, Bio Pulverizer, Window Turner and ice" Harvester.
Their product
range is fabricated using quality assured parts that are procured from reliable
manufacturers of the globe, including Sandfits group (42 years old). Mainly,
they source their raw material or parts from Asia and Europe, which assures in
the end machinery optimum functionality standards.
Their turnover is
about 35.000 to 40.000 millions. Their bankers are IClCl bank, HDFC Bank, and
State Bank of India. They own their factory building and say that they are a cash rich firm. However it is
difficult to assets their financial strength and caution advised in all
financial dealings.
Infrastructure
·
Spectrometer: To test the raw material quality
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Metallurgical Microscope: To analyze the steel
micro structure
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Hardness tester: To test the hardness of raw
material and final product
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Non destructive testing facilities: To test final
product quality
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Pioneers in offering rotary tillers and
international quality blades at Indian prices
·
The first Indian company to manufacture
agricultural blades that are at par with European companies quality
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Sophisticated technology especially in metallurgy
and special heat treatment process
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Well equipped to develop new models as per OEM
requirement
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State-of-the-art facilities like Spectra Germany.
Microscope, Hardness tester, Tensile testing and non-destructive testing
facilities
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Well trained and experienced marketing personnel
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100% customer satisfaction
·
Ethical business practices
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.45.18 |
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|
1 |
Rs.73.04 |
|
Euro |
1 |
Rs.61.43 |
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 |
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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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 |
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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 |
|
<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.