MIRA
INFORM REPORT
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Report Date : |
25.03.2011 |
IDENTIFICATION DETAILS
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Name : |
KTA SPINDLE TOOLINGS |
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Registered
Office : |
246/ 9, Hinjewadi, Near Tata Johnson, Taluka – Mulshi, Pune – 411 057,
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Year of
Establishment : |
1990 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business
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Manufacturer and Exporter of Precision Tool Holder such as CNC Tool Holders,
Tap Adaptors, Tapping Attachments, Tapping Chucks etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (47) |
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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 80000 |
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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. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct. 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. Manisha |
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Designation : |
Accountant |
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Contact No.: |
91-20-64001283 |
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Date : |
24.03.2011 |
LOCATIONS
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Registered Office/ Factory : |
246/ 9, Hinjewadi, Near Tata Johnson, Taluka – Mulshi, Pune – 411 057,
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Tel. No.: |
91-20-64001283, 20270680 |
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Fax No.: |
91-20-66740038/ 39 |
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E-Mail : |
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Website : |
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Area : |
5000 sq ft |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Vipul Vinay Chopda |
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Designation : |
Proprietor |
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Date of Birth/Age : |
30 Years |
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Qualification : |
Diploma in Engineering |
KEY EXECUTIVES
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Name : |
Ms. Manisha |
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Designation : |
Accountant |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Precision Tool Holder such as CNC Tool Holders,
Tap Adaptors, Tapping Attachments, Tapping Chucks etc. |
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Products : |
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Exports : |
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Products : |
CNC Tool Holders, Tap Adaptors, Tapping Attachments, Tapping Chucks
etc. |
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Countries : |
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Imports : |
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Products : |
Machinery |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit (30 days) |
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Purchasing : |
L/C, Cash and Credit (30 days) |
GENERAL INFORMATION
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Customers : |
End Users and Dealers ·
Birla Kennametal Limited , ·
Glanze Engineering, ·
Greaves Limited , ·
Fluid Logic Systems Private Limited , Ahmedabad ·
Datar Swichgear Limited , Ahmednagar ·
Labotech Microscopes ( ·
Ace Designers Limited , Bengaluru ·
Ace Manufacturing Systems Limited , Bengaluru ·
Auma ( ·
Sri Mahamaaya Casters, ·
Johnson Lifts (Private) Limited , Chennai ·
Sundram Fasteners Limited , Chennai ·
PTC Industries Limited , ·
DVB Design + Engineering, ·
East Cost Magnets (Private) Limited , ·
Multitech Combines, Pune ·
S. K. Industries, Pune ·
Electronica Machine Tools Limited , Saswad ·
High Power Engg. CoO. (Private) Limited , Satara |
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No. of Employees : |
150 (In office – 50, In factory – 100) (Approximately) |
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Bankers : |
Saraswat Co-Operative Bank, Branch Shivaji Nagar, Pune, |
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Facilities : |
Cash Credit – Rs.10.000 millions Term Loan – Rs.50.000 millions |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Balbathia and Company Chartered Accountants |
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Address : |
Pune, |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.20.000 millions (Approximately) |
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Borrowed : |
-- |
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Total : |
Rs.20.000 millions (Approximately) |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2010 (Approximately) |
31.03.2009 (Approximately) |
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Sales Turnover |
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90.000 (Due to
recession) |
120.000 |
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Expected Sales (2010-2011): Rs.170.000 millions
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCES:
·
Werner Wilke GmbH,
·
WEBSITE DETAILS:
PROFILE:
Winners of 'FIE' Foundation Awards in the year
1995 and 2001. CMTI PMT Trust Award in 2001, for
excellent Ttapping Chucks and Rigid Tapping Chuck design, Subject
exports 50% of its production to
Subject is currently one
of the largest manufactures of Precision Tool Holders in India, and most
professional providers of machine accessories with more than 1100 different
products, most of them available Ex-Stock.
Started in the early 80's they are in the
manufacturing of Tapping Chucks, Tap Adaptors, Quick Change Drilling and
Tapping Chucks, Rigid Tapping Chucks and Floating Reamer Holders. Since last 5 years
they are into manufacturing of Precision Collet Chucks, Side Lock Holders,
Combi Shell and Mill Holders, Morse Taper Holders, NC Drill Chuks, Tapping
Chucks for CNC Machinig Centers, in different mountings like MAS 403,
HSK (Din 69893), ISO (Din 69871), Din 2080, NT30, M1TR. etc.
The company works on New Generation CNC Machines, Multitasking CNC
Machines for Turning, Milling and Grinding which acquires 26,000 sq. feet area.
For controlling International standards in high Precision grinding, they have
World Class External, Internal, Surface and Thread Grinding Machines which
occupies 6000 sq. feet air conditioned shop.
Subject believes in
"great things must be accomplished by group of people" so they have
very strong research and development team. As a manufacturer, they believe the
only way to win customer satisfaction is to provide good products and services.
With this ideal, they can forge ahead towards more prosperity in 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 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.77 |
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1 |
Rs.72.66 |
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Euro |
1 |
Rs.63.06 |
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 |
6 |
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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 |
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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47 |
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.