MIRA
INFORM REPORT
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Report Date : |
10.10.2011 |
IDENTIFICATION DETAILS
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Name : |
SHARPEX ENGINEERING WORKS |
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Registered
Office : |
Plot No. 1-5, G. I. D. C., Odhav, Ahmedabad – 382 415, |
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Country : |
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Date of
Incorporation : |
Not Available |
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Capital
Investment / Paid-up Capital : |
Not Divulged |
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Legal Form : |
Not Available |
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Line of Business
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Manufacturer and Exporter of eco-friendly garden and forestry tools like
Secateurs, Grass Trimmer, Mobile Chipper, Branch Cutter, and Long Cutter. |
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No. of Employees
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Information declined by the management. |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Undetermined |
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Payment Behaviour : |
Unknown |
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Litigation : |
-- |
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Comments : |
The management denied to disclose any information about the subject
company. No further information could be made available. Initially, the subject can be considered for business dealings on a
safe and secured trade terms and conditions.
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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 DECLINED BY
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Name : |
Mr. Rahul Patel |
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Designation : |
Chief Account Officer |
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Date : |
26.09.2011 |
LOCATIONS
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Registered Office : |
Plot No. 1-5, G. I. D. C., Odhav, Ahmedabad – 382 415, |
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Tel. No.: |
91-79-22870075 / 22871342 / 22876793 |
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Fax No.: |
91-79-22871341 |
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E-Mail : |
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Website : |
SOLE PROPRIETOR/PARTNERS
Not Divulged
KEY EXECUTIVES
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Name : |
Mr. Rahul Patel |
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Designation : |
Chief Account Officer |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of eco-friendly garden and forestry tools like
Secateurs, Grass Trimmer, Mobile Chipper, Branch Cutter, and Long Cutter. |
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Products : |
Gardening ·
Lawn Mower ·
Long Cutter ·
Waste Picker ·
Snake Catcher Industrial ·
Chain Saw – One Man Electric ·
Chain Saw – Two Man Electric ·
Chain Saw – Petrol Engine Operated ·
Curb Cutter Agriculture ·
Mobile Shredder ·
Branch Cutter ·
Manual Sprayer ·
Secateur ·
Long Cutter ·
Quick Planter ·
Adjustable Rake ·
Hedge Shear |
GENERAL INFORMATION
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Customers : |
·
Ambuja Cement Limited ·
Amul ·
Apollo Tyres Limited ·
Asian Granito India Limited ·
B.A.P.S. ·
Bajaj Auto Limited ·
BALCO ·
Birla Tyre ·
Bosch Rexroth India Limited ·
Orient Paper Mills ·
Parle ·
Pipavav Shipyard ·
Polycab Wires Private Limited ·
Prism Cement Limited ·
Torrent Pharma ·
Transformers and Rectifiers ·
Trident Group ·
Ultratech Cement ·
Videocon Industries Limited ·
Welspun India Limited |
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No. of Employees : |
Information declined by the management. |
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Bankers : |
Not Available |
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Banking
Relations : |
-- |
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Auditors : |
Not Available |
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 : |
Not Divulged |
FINANCIAL DATA
[all figures are
in Rupees Millions]
NOT DIVULGED
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
LOCAL AGENCY FURTHER INFORMATION
WEB DETAILS
PROFILE
Subject, the flagship company, popularly known by the brand name, Sharpex,
has been set up by professionals and technocrats having expertise on wood
cutting machineries for more than 25 years. Subject has been in service of saw
mills, plywood factories, veneer industries, tea gardens,
chemical/food/pharmaceutical industries, Fire Brigades, several government and
semi government organizations and corporations since three decades.
The plant is located at G.I.D.C. Odhav, Ahmedabad - about 10 kms away from the
city, in a sprawling area of 6500 sq. meters with state-of-art production and
testing facilities.
Pioneer
Driven by ambition and vision of its founder, Shri Karsanbhai Patel, a dynamic
entrepreneur, steadily started manufacturing wood cutting machineries- to begin
with Two Man Chain Saw for cutting wooden logs, paper rolls, etc. and then
gradually One Man Chain Saw for multifarious cutting activities. These items
were imported from abroad. Thus, Subject has the distinction of being pioneer
in the fastest cross cutting machineries in
The unrelenting pace of growth led to further diversification by new generation
from wood cutting machineries to eco-friendly tools evolving contemporary
designs and adapting latest techniques.
Largest Manufacturer
Today, Subject is the largest manufacturer and exporter of eco-friendly
garden and forestry tools like Secateurs, Grass Trimmer, Mobile Chipper, Branch
Cutter, and Long Cutter. Yet another diversification is the introduction of
Sharpex Portable Concrete Cutter and Aqua Power Cleaner. These revolutionary
products are being used extensively for multifarious industrial uses.
Upgradation of Technology
The young engineers from company regularly visit developed countries and adopt
the latest innovations. Thus, subject products catch up with times. We adopt
latest trends and technology from all the major exhibitions in
Turnover
Subject had a humble beginning, from Rs.1 million turnover in 1975, the group
has now touched an all time high of Rs.50 million.
Professionalism
In the early eighties, the reins of subject have been entrusted to a consortium
of young and qualified engineers and each one of them is entrusted with the
task of production, quality control and R and D, administration, export and
other departments are manned by technically qualified personnel specialized in
their respective fields.
The Marketing
The marketing activity is supported by its marketing division and dealer
network throughout the country. The excellent customer rapport adds to the
reputation of the company. The marketing network is a bird's eye view as under.
HISTORY
Three decades ago, from an ordinary beginning as a small company, to a
brand that stand fro technological leadership and high quality. Product development,
Research and development, marketing and customer service has played a pivotal
role in strengthening the roots of the company.
By adapting operations in order to achieve development that is
economically, socially and ecologically sustainable, Subject has carved a
permanent niche for itself.
Over the years, the only prime focus has been on the development of products
which yield better and improved environmental performance.
With a formidable past and a solid foundation, Subject has been an all-round
performer. They have been consistently living up with a commitment, today they
are well entrenched in
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.49.14 |
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1 |
Rs.75.97 |
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Euro |
1 |
Rs.66.00 |
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.