MIRA
INFORM REPORT
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Report Date : |
05.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
MAX INDUSTRIES |
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Registered
Office : |
Plot No.27/28, G.I.D.C, Kapadwanj, District Kheda,
Kapadwanj – 387 620, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Year of
Establishment : |
1987 |
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Capital
Investment / Paid-up Capital : |
Rs.8.000 millions |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business
: |
Manufacturer and Exporter of Metal Handling Equipments such as Chain
Pulley Block, Motorized Chain Pulley Block, etc. |
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No. of Employees
: |
11 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 32000 |
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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 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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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. Tejas Shah |
|
Designation : |
Accountant |
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Contact No.: |
91-9979006189 |
|
Date : |
26.08.2011 |
LOCATIONS
|
Registered Office/ Factory : |
Plot No.27/28, G.I.D.C, Kapadwanj, District Kheda, Kapadwanj
– 387 620, |
|
Tel. No.: |
91-2691-263436/ 262682 |
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Mobile No.: |
91-9979006189 (Mr. Tejas Shah) |
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Fax No.: |
91-2691-262079 |
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E-Mail : |
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Website : |
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Area : |
1000 sq ft |
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Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Abhijit N. Joshi |
|
Designation : |
Proprietor |
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Date of Birth/Age : |
55 Years |
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Qualification : |
Diploma in Mechanical Engineering |
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Experience : |
26 Years |
KEY EXECUTIVES
|
Name : |
Mr. Tejas Shah |
|
Designation : |
Accountant |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Metal Handling Equipments such as Chain Pulley
Block, Motorized Chain Pulley Block, etc. |
|
|
|
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Products : |
v
Manual Hand Hoists v
Manual Monorail Traveling Trolleys v
Triple Spur Gear Chain Pulley Blocks v
Motorized Triple Spur Gear Chain Pulley Blocks v
Chain Electric Hoists v
Monorail Trolleys: Monorail Pull-Push Traveling Trolley, Monorail Geared Traveling
Trolley, Monorail Electric Traveling Trolley v
Wire Rope Hoists: Electric Wire Rope Hoist v
H.O.T/E.O.T Cranes v
Special products in the range requirement of
Flameproof Chain Hoist, Shorter Head Room, Reverse Hoists, Dual Speed Hoists,
etc. |
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Exports : |
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Products : |
Metal Handling Equipments |
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Countries : |
African Countries |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users Esteemed Customers v
ABB
Limited ( v
Anupam
Industries Limited (Anand) v
DCW
Limited (Dhrangadra) v
Larsen
and Tourbo Limited (Hazira) v
Bharat
Fritz Werner Limited ( v
Gujarat
State Fertilizer Corporation Limited ( v
Shanthi
Gears Group ( Automobile Companies v
Eicher
Motors (Pithampur - Madhya Pradesh) v
General
Motors (Halol - v
TVS
Motors (Chennai) v
Man Force
Trucks Private Limited (Pithampur - Madhya Pradesh) Chemical, Pharma and Sugar Industry v
Andhra
Sugar Mills Limited (Andhra Pradesh) v
Cadila
Pharmaceuticals Limited (Ankleshwar) v
James
Robinson Ind. Private Limited (Vapi) v
K.A.
Male Pharmaceuticals Limited (Ankleshwar) v
Kamani
Oil Industries Limited (Mumbai) Electricity Boards v
Gujarat
State Electricity Corporation Limited (Wanakbori TPS) v
Gujarat
State Electricity Corporation Limited (Sikka) v
Jaipur
Vidhyut Vitran Nigam Limited (Jaipur) v
Madhya
Gujarat Vij Company Limited (Anand, Borsad, Dabhan, Godhara, Kathalal,
Mehamdavad, Nadiad etc.) v
Ahmedabad
Electric Company (Ahmedabad) Engineering Companies v
ACE
Fabricators Private Limited (Mumbai) v
Amazon
Wood Private Limited, (Ranjangaon) Government Organizations v
Gun
Carriage Factory ( v
Ordnance
Factory (Ambernath, Bhandara, Dehradun, Kanpur etc.) Municipal Corporations v
Ahmedabad
Municipal Corporation (Ahmedabad) v
Rajkot
Municipal Corporation ( Turnkey Contractors v
Efficient
Engineers ( v
Flow
More Pumps Private Limited (Ahmedabad) Water Supply Board v
Gujarat
Water Supply and Sewerage Board (Ahmedabad, Bhuj, Gandhinagar, v
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No. of Employees : |
11 (Approximately) |
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Bankers : |
v
HDFC Bank, Kapadwanj, v
State Bank of |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Vibhakar J. Trivedi Chartered Accountant |
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Address : |
Ahmedabad, |
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Memberships : |
Engineering Export Promotion Council (EEPC) and
Confederation of Indian Industry (CII) |
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Associates/Subsidiaries : |
Vikrant
Engineers Address: Plot No.3, G.I.D.C., Kapadwanj, Rainbow
Engineers Address: Plot No.6, G.I.D.C., Kapadwanj, |
CAPITAL STRUCTURE
As on 31.03.2011
|
Capital Investment : |
|
|
Owned : |
Rs.8.000 millions |
|
Borrowed : |
-- |
|
Total : |
Rs.8.000 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sales Turnover (Approximately) |
19.600 |
18.400 |
16.800 |
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The above information has been parted by Mr. Tejas Shah (Accountant).
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCES:
v
L and T, Vajira
v
Mazgaon Dock Limited, Mumbai
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.45.90 |
|
|
1 |
Rs.74.31 |
|
Euro |
1 |
Rs.65.41 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
|
|
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
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 |
|
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 |
|
- |
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.