MIRA
INFORM REPORT
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Report Date : |
16.06.2011 |
IDENTIFICATION DETAILS
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Name : |
CREATIVE AUTOMATION AND SYSTEMS ENGINEERING |
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Registered
Office : |
Plot No. 21, Krishan Nagar, Manapakkam, Chennai – 600116, Tamilnadu |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Year of
Establishment : |
2000 |
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Com. Reg. No.: |
33980903253 |
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Capital
Investment : |
Not Divulged |
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IEC No.: |
0400012120 |
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PAN No.: [Permanent Account No.] |
AASPH3312G |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business
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Manufacturer, Exporter and Trader of automation solutions for
engineering and manufacturing industries |
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No. of Employees
: |
10 (In Factory) |
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 established proprietory concern having satisfactory
track records. 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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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. P Haribabu |
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Designation : |
Proprietor |
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Contact No.: |
91-44-22520876 |
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Date : |
14.06.2011 |
LOCATIONS
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Registered Office/ Factory : |
Plot No. 21, Krishan Nagar, Manapakkam, Chennai – 600116, |
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Tel. No.: |
91-44-22520087/22520876/32429971 |
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Fax No.: |
91-44-22520981/22520087 |
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E-Mail : |
SOLE PROPRIETOR
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Name : |
Mr. P Haribabu |
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Designation : |
Proprietor |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Trader of automation solutions for
engineering and manufacturing industries |
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Products : |
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Exports : |
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Products : |
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Terms : |
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Selling : |
L/C, Credit |
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GENERAL INFORMATION
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Customers : |
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No. of Employees : |
10 (In Factory) |
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Bankers : |
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Banking
Relations : |
-- |
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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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31.03.2011 |
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Sales Turnover |
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30.000 |
The above information has been parted by Mr. P Haribabu
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 2000. The firm was started by Mr.
P Haribabu. They are one of the leading organizations engaged in offering
automation solutions for manufacturing industries. Their range measuring scale,
measuring linear scales, industrial PLC, programmable logic controllers,
industrial linear scales. They offer their range of products in various
specifications to suit different requirements of their clients.
They have associated themselves with reputed manufacturers such as Yuken
and Gefran to offer their clients a quality range of proportional valves and
pressure transmitters. They are backed by modern infrastructure that assists
them in meeting bulk and requirements of manufacturing and engineering
industries. Their infrastructure is equipped with modern machines and tools
such as molding machine, cutting tools, heaters and fabricators that enable
them to design their range as per international quality standards.
What they do in their own words from them website:
They are a distinguished organization offering automation solutions for
engineering and manufacturing industries. The range includes Magic Blow PLC,
Magic PLC, Magic Blow PLC, Mega Magic PLC, Nano 320 PLC and Nano Blow PLC.
Apart from these, they also offer Nano Magic pLC, pressure transmitters,
proportional valves, measuring scale, measuring linear scales and PLC TFT. They
use quality raw material such as chemical, iron, plastic and steel to
manufacture quality and durable range of products. Further, the products are
available in various specifications to suit different requirements of clients.
Features:
• Long functional life
• Cost effective
• Reliable
Apart from these, they also meet the requirements of Controllers For
plastics Injection Molding Machines, Blow Molding Machines, Plastics Extruders,
Temperature Controllers and Hot Runner Controllers.
The infrastructure they have are
- Molding
machine
- Cutting tools
- Drilling
machine heaters
- Fabricators
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.44.68 |
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|
1 |
Rs.73.05 |
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Euro |
1 |
Rs.64.29 |
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 |
YES |
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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.