MIRA
INFORM REPORT
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Report Date : |
27.01.2011 |
IDENTIFICATION DETAILS
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Name : |
ENKEY ENGINEERING WORKS |
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Registered
Office : |
3/1, M.G.G.O, Colony, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Year of
Establishment : |
2001 |
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TIN No.: [Tax Deduction &
Collection Account No.] |
33382021896 |
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CST : |
641157/26.4.1993 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business
: |
Manufacturer, Local Suppliers and Exporters of Typical aluminum
components manufactured in-house include cylinders, impellers, fans,
flangers, horns, elbows, support brackets, engine components, housing covers
for motors and transmission elements, valves, manifolds and electrical
housing components |
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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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an old and established proprietory 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 : |
Ms. Shanthi |
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Designation : |
Office Assistant |
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Contact No.: |
91-422-2648756 |
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Date : |
19.01.2011 |
LOCATIONS
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Registered Office/ Corporate Office : |
3/1, M.G.G.O, Colony, |
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Tel. No.: |
91-422-2648756/2642119/6451782 |
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Mobile No.: |
91-9443367010 |
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Fax No.: |
91-422-2647192 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory : |
S.F. 148/32, |
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Tel. No.: |
91-422-2648756/2642119/6451782 |
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Fax No.: |
91-422-2647192 |
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E-Mail : |
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Location : |
Owned |
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Branches : |
Mr. Kannan, Business Development 8, |
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Mobile No.: |
44 (0) 7962 470050 |
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E-Mail : |
SOLE PROPRIETOR
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Name : |
Mr. R Naveen Kumar |
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Designation : |
Proprietor |
KEY EXECUTIVES
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Name : |
Ms. Shanthi |
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Designation : |
Office Assistant |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Local Suppliers and Exporters of Typical aluminum
components manufactured in-house include cylinders, impellers, fans,
flangers, horns, elbows, support brackets, engine components, housing covers for
motors and transmission elements, valves, manifolds and electrical housing
components |
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Exports : |
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Products : |
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Terms : |
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Selling : |
L/C, Credit |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
10 |
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Bankers : |
Union Bank of |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Associates/Subsidiaries : |
CNC machined components Address: 3/1, N.G.G.O
Colony, Tel. No.:
91-422-2647192/2647193 Mobile No.: 91-9443367010
(Mr. Sampath Kumar, Director) Fax No.: 91-422-2647190 Line of
Business: Manufactured and Exporters of CNC machined components |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Divulged |
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Borrowed : |
Not Divulged |
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Total : |
-- |
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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10.000 |
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LOCAL AGENCY FURTHER INFORMATION
Subject was established in 1984 as a Aluminum Gravity die casting foundry.
They expanded into an ISO 9001:2000 CNC Manufacturing facility in 1999. They
offer their services in Consulting on outsourcing, offshore project management,
Offshore product identification and act as a single point contract supplier and
a trusted offshore partner for all industrial component supplies. Presently
through their network of suppliers they cater to the purchasing needs of
industries. They are known for the delivery of quality engineering components
to a wide of industrial product companies
and OEMs.
Subject has manufacturing and procurement capabilities to serve
industrial customers who need to cut down the costs and or improve the supply
of components and assemblies. They use their in-house manufacturing facilities
to cater to their clients. They have a team of engineers who are experienced in
engineering, quality monitoring, logistics and supply chain abilities and would be a valuable long term supply chain
partner for their customers
They are ideally located in the industrial city of
They serve the following sectors:
• Automotive and OEM manufacturers
• Industrial Product Manufactures - Pneumatics, Hydraulics, Pumps,
Valves and Compressors Industry
• Machinery manufacturers (Agricultural, Textile, Machine tool, printing
machinery)
• Motors, Gear boxes, Transmission elements
• Replacement parts - across varied industry
Infrastructure
Their machine shop and tooling facilities enable them to cater to a wide
range of industries by delivering complex strategic and leverage products with
high technical content. Their team is enhanced with CAD and
Their assembly shop is equipped with pneumatic and electric hand tools,
welding machines, cutting machines and de-burring equipments that enable them
to perform assembly operations based on their customer requirements. They are a
contract manufacturer and a valu b1c supply chain partner to their customers by
delivering sorted and ready to assemble p ducts to their customers production
facilities.
Their aluminum die casting foundry is capable or producing aluminum
components ranging from 10 gms to 10 kg castings. They use solid modeling and
computer aided manufacturing to reduce manufacturing time and development time.
Typical aluminum components manufactured in-house include Cylinders,
Impellers Fans, Flanges, Horns, Elbows, Support brackets, Engine components,
Housing covers for motors arid transmission elements, Valves, Manifolds and
Electrical housing components.
What they say
about their factory in their own words:
They are ISO certified for there processes to deliver quality machined
components. There machine shop has CNC lathes, Vertical Machining Centres,
Horizontal Machining Centres and conventional machine shop manufacturing
facility, which enable us to deliver to there wide customer base. They also
have a nonferrous foundry specializing in aluminum permanent mould castings and
sand castings.
They use there facility to develop dies and other tooling, establish the
manufacturing process fur regular production and to establish target costs.
There inspection facilities include CMM and high precision capabilities to have
consistent product quality. On-job and classroom training has been critical to
impart knowledge to people and also to reduce the cost of poor quality and
hence they invest in there training facilities. To there long term customers
they also offer vendor managed inventory at there premises and respond to their
order call offs.
They also offer the following services:
- Outsourcing
decision making (Make/buy analysis and sourcing product selection)
- Project
management
- Sourcing
selection
- Engineering
coordination
- Quality
assurance and continuous monitoring
- Logistics
management
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.45.53 |
|
|
1 |
Rs.72.77 |
|
Euro |
1 |
Rs.62.14 |
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 |
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 |
YES |
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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 |
|
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
|
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 |
|
- |
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.