MIRA
INFORM REPORT
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Report Date : |
30.03.2011 |
IDENTIFICATION DETAILS
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Name : |
KHAN MACHINES |
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Registered
Office : |
C-13, Industrial Estate, Muggapair West, J. J. Nagar, Chennai-600037, Tamil
Nadu |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Year of
Establishment : |
1986 |
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Legal Form : |
Sole Proprietory Concern. |
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Line of Business
: |
Trader and Importer of Engineering Machines. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (42) |
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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 10000 |
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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 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
|
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
|
Name : |
Mr. Khan |
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Designation : |
Proprietor |
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Date : |
25.03.2011 |
LOCATIONS
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Registered Office / Warehouse : |
C-13, Industrial Estate, Muggapair West, J. J. Nagar, Chennai-600037,
Tamil Nadu, India |
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Tel. No.: |
91-44-65477215 |
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Mobile No.: |
91-9841050531 (Mr. Sherfudden Khan) |
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Fax No.: |
91-44-26560228 |
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E-Mail : |
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Website : |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Sherfudden Khan |
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Designation : |
Proprietor |
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Date of Birth/Age : |
51 years |
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Qualification : |
B. SC |
BUSINESS DETAILS
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Line of Business : |
Trader and Importer of
Engineering Machines. |
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Products : |
·
Grinding Radial ·
Drilling ·
Milling Gear ·
CNC ·
Modern Numerical Control Machines ·
Sheet Metal Machines. |
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Imports : |
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Products : |
Engineering Machines |
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Countries : |
·
Europe ·
USA ·
Germany ·
Italy |
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Terms : |
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Purchasing : |
100% Advance |
GENERAL INFORMATION
|
Customers : |
·
End Users ·
Others ·
Industries |
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No. of Employees : |
15 (Approximately) |
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Bankers : |
HDFC Bank, Mugappair Branch, India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mr. Manohar and Choudhary Chartered Accountant |
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Address : |
India |
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CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 2.500 millions |
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Borrowed : |
-- |
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Total : |
Rs. 2.500 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2010 |
31.03.2009 |
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Sales Turnover |
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33.000 |
17.500 |
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Expected Sales (2010-2011) : Rs. 70.000 millions
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCE :
ü Royal Engineering
Works
ü Kaweri Industries
WEB SIDE DETAILS
PROFILE
From humble beginnings to global enterprise, the success of Khan Machines
has been fueled by the vision of its founder and Proprietor - Mr. Khan, a
commitment to provide a source for quality pre-owned machinery at reasonable
prices. Starting from a ONE room office in 1986, Khan Machines has guided the
Indian market in importing and selling used machinery with over 20 years of
experience.
Despite all changes and growth at Khan Machines, many things remain the
same at the insistence of Mr. Khan "They take the attitude of doing it
right. One thing that has made them successful is the close relationship they
have built with customers. If there's a problem, they know we'll help." A
good transaction always has two winners. It does not matter whether they are
buying machines or selling machines.
With the experience of a small scale industries doing machining of
precision components to the reputed customers the idea along with the
experience went on further to larger scale, which took shape as ‘Khan Machine’,
established in 1987 under the proprietorship of Mr. Khan.
Khan Machine is basically a dealer in used machines importing quality
machine tools; conventional and CNC machines; at cost effective prizing to suit
Indian market. These machines are been sold from stock and in case of
unavailability of stock they try to locate for the same on nominal charge for
customers’ sake. They import machines from Europe and other countries,
sometimes they purchase locally from
They deal in all used machine tools from small lathe to big floor boring or VTL
machines conventional as well as CNC. The range of machines varies from all
metal working machines such as turning lathes, vertical turret lathes,
Horizontal boring machines, milling machines, gear machines, CNC turning
centers vertical machining, centers grinders, surface grinders, cylindrical
grinders, gear grinders, tool and cutter grinders, boring machines –
(horizontal boring machines, vertical boring machines, jig boring machines,
co-ordinate boring machines). Other machines are like sheet metal working
machines, power presses, all capacities of deep drawing presses, fine blanking
presses, shearing machine press brakes, plastic injection moulding machines
etc.
To manage this huge infrastructure of Khan Machines they have got good team of
experienced engineers for both conventional and CNC machines. The technicians
are utilized for mechanical and electronics skills.
Coming to the esteemed customers they vary from small entrepreneur who is
starting a new venture to big multinational company. They guide them to choose
the right machines at the best competitive prise. The customers in turn are
mostly suppliers to automobile industries, farm equipments, heavy fabrication,
heavy machining tools, room based units, precision die, mould markets etc.
In nut shell the present scenario of Indian Small Scale Industries is like
‘survival of the fittest’ both in quality and cost. Here they can’t increase
the overheads to meet the customer’s schedule. The only way to survive is to
expand by adding new machines, and they help them to survive by giving them the
preowned machines, as the new machines are very expensive.
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.44.67 |
|
|
1 |
Rs.71.63 |
|
Euro |
1 |
Rs.63.09 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
6 |
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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 |
|
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>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 |
|
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 |
|
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.