MIRA
INFORM REPORT
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Report Date : |
05.03.2011 |
IDENTIFICATION DETAILS
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Name : |
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Registered
Office : |
208, 2nd Floor, Mahadkar Chambers, |
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Country : |
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Year of
Establishment : |
January, 2010 |
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Legal Form : |
Partnership concern with an unlimited liability of the partners |
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Line of Business
: |
Manufacturer of Transform Oil Filtration. |
RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Maximum Credit Limit : |
-- |
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Status : |
New Concern |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new partnership concern and yet to establish itself gradually.
Business is active. Payments are unknown. The concern can be considered for business dealing with some caution. |
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. Jagdish Patil |
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Designation : |
Partner |
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Date : |
19.02.2011 |
LOCATIONS
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Registered Office : |
208, 2nd Floor, Mahadkar Chambers, |
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Tel. No.: |
91-20-64010039 |
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Fax No.: |
91-20-25452880 |
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E-Mail : |
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Website : |
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Factory : |
Survey No.- 13/ 6, Nanded Industrial Estate, Near Krushnai Aqua,
Kapare Building Gate No.1, Sinhagad Road, Nanded Phata, Pune - 411 041,
Maharashtra, India |
PARTNERS
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Name : |
Mr. Utkarsh Kelkar |
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Designation : |
Partner |
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Date of Birth/Age : |
28 Years |
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Name : |
Mr. Jagdish Patil |
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Designation : |
Partner |
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Date of Birth/Age : |
25 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Transform Oil Filtration. |
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Products : |
·
Transformer Oil
Filtration Plant ·
Oil Filtration Plant ·
Mobile Transformer
Oil Filtration Plant ·
Vacuum Impregnation
Plant
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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No. of Employees : |
10 (In office – 4, In factory – 6) (Approximately) |
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Bankers : |
Bank of Maharashtra, |
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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 Available |
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Borrowed : |
Not Available |
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Total : |
Not Available |
FINANCIAL DATA
[all figures are
in Rupees Millions]
NEW CONCERN
Expected Sales (2010-2011): Rs.10.000 millions
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCES:
·
Ambuja Cement
·
Coca Cola
WEBSITE DETAILS:
Introduction:
Established in the year 2010, subject has since then been manufacturing
and supplying Transformer Oil Filtration Plants, Vacuum Impregnation Plant,
Industrial Oil Filters and Engineered Oil Filtration Plants of varying
capacities as well as Vacuum Drying Autoclaves. The high quality, precision
engineered equipment is supplied to transformer industry where they are
utilized to maintain the flow and filtration of insulating oils. The systems
effectively remove all impurities restoring the oils to a pure grade.
The state of the art manufacturing facility has the capacity to produce
superior quality plants and equipments which contribute towards better
performance and increased efficiency of various engineering industries. The
configurations of the plants can be tailor made to suit the preferences and
requirements of the clients. Varying capacities can be supplied to accommodate
varying volumes of oil circulation.
PROFILE:
Established in the year 2010, subject has since then been manufacturing
and supplying Transformer Oil Filtration Plants, Vacuum Impregnation Plant,
Industrial Oil Filters and Engineered Oil Filtration Plants of varying
capacities as well as Vacuum Drying Autoclaves. The high quality, precision
engineered equipment is supplied to transformer industry where they are
utilized to maintain the flow and filtration of insulating oils. The systems
effectively remove all impurities restoring the oils to a pure grade.
The state of the art manufacturing facility has the capacity to produce
superior quality plants and equipments which contribute towards better
performance and increased efficiency of various engineering industries. The
configurations of the plants can be tailor made to suit the preferences and
requirements of the clients. Varying capacities can be supplied to accommodate
varying volumes of oil circulation.
The owner Mr. Utkarsh Kelkar is a constant source of information and
expertise providing adequate direction to all the activities. His experience
and in depth industry knowledge has enabled them to acquire a wide and varied
clientele which is truly appreciative of the products. They are in the process
of acquiring the ISO certification for the organization and plans are on the
anvil for further expansion in this field. They aim to cater to the domestic as
well as the international markets in the coming future.
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 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.44.99 |
|
|
1 |
Rs.73.23 |
|
Euro |
1 |
Rs.62.80 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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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26 |
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 |
|
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 |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.