MIRA INFORM REPORT

 

 

Report Date :

03.04.2012

 

IDENTIFICATION DETAILS

 

Name :

MAX INDUSTRIES

 

 

Registered Office :

Plot No.27/28, G.I.D.C, Kapadwanj, District Kheda, Kapadwanj – 387 620, Gujarat

 

 

Country :

India

 

 

Financials (as on) :

31.03.2011

 

 

Year of Establishment :

1987

 

 

Capital Investment / Paid-up Capital :

Not Divulged 

 

 

Legal Form :

Sole Proprietory Concern

 

 

Line of Business :

Manufacturer and Exporter of Metal Handling Equipments such as Chain Pulley Block, Motorized Chain Pulley Block, etc.

 

 

No. of Employees :

11 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (46)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INFORMATION PARTED BY

 

Name :

Mr. Tejas Shah

Designation :

Accountant

Contact No.:

91-9979006189

Date :

09.03.2012

 

 

LOCATIONS

 

Registered Office / Factory:

Plot No.27/28, G.I.D.C, Kapadwanj, District Kheda, Kapadwanj – 387 620, Gujarat, India

Tel. No.:

91-2691-263436/ 262682

Mobile No.:

91-9979006189 (Mr. Tejas Shah)

Fax No.:

91-2691-262079

E-Mail :

anchorad@vsnl.in

sale@anchor.in

ankerad1@sancharnet.in

ankermax@yahoo.com

Website :

http://www.anker.in

Area :

1000 sq ft

Location :

Owned

 

 

SOLE PROPRIETOR

 

Name :

Mr. Abhijit N. Joshi

Designation :

Proprietor

Qualification :

Diploma in Mechanical Engineering

 

 

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.

 

 

Products :
  • Manual Hand Hoists
  • Manual Monorail Traveling Trolleys
  • Triple Spur Gear Chain Pulley Blocks
  • Motorized Triple Spur Gear Chain Pulley Blocks
  • Chain Electric Hoists
  • Monorail Trolleys: Monorail Pull-Push Traveling Trolley, Monorail Geared Traveling Trolley, Monorail Electric Traveling Trolley
  • Wire Rope Hoists: Electric Wire Rope Hoist
  • H.O.T/E.O.T Cranes
  • Special products in the range requirement of Flameproof Chain Hoist, Shorter Head Room, Reverse Hoists, Dual Speed Hoists, etc.

 

 

Exports :

 

Products :

Metal Handling Equipments

Countries :

South Africa

 

 

Terms :

 

Selling :

Before Delivery

 

 

Purchasing :

Before Delivery

 

 

GENERAL INFORMATION

 

Customers :

Manufacture 

 

Esteemed Customers

  • ABB Limited (Baroda)
  • Amul Dairy –Kaira District Co-operative Milk Producers Union Limited (Anand)
  • Anup Engineering Company (Ahmedabad) 
  • Anupam Industries Limited (Anand)
  • Apollo Tyres Limited
  • DCW Limited (Dhrangadra)
  • Larsen and Tourbo Limited (Hazira)
  • Bharat Fritz Werner Limited (Bangalore)
  • Gujarat State Fertilizer Corporation Limited (Baroda)
  • Shanthi Gears Group (Coimbatore)
  • Gmm Pfaudler Limited
  • Hindustan Paper Corporation Limited (Kolkata)
  • India aSteels Corporation (Kutchh)
  • Lakshmi Machine Works (LMW) Limited (Coimbatore)
  • Larsen and Tourbo Limited
  • M/S Usha Marthin limited (Gamharia and Ranchi – Jharkhand )
  • Reliance Industries Limited (IPCL – Baroda and Bhavnagar)
  • Shanthi Gears Group (Coimbatore)
  • Tehri Hydro Development Corporation Limited
  • The Arvinf International limited (Denim Division – Santej, Ahmedabad)
  • The Associated Cement Work (CHandarpur)

 

Automobile Companies

  • Eicher Motors (Pithampur - Madhya Pradesh)
  • General Motors (Halol - Gujarat)
  • TVS Motors (Chennai)
  • Man Force Trucks Private Limited (Pithampur - Madhya Pradesh)

 

Chemical, Pharma and Sugar Industry

  • Andhra Sugar Mills Limited (Andhra Pradesh)
  • Cadila Pharmaceuticals Limited (Ankleshwar)
  • James Robinson Ind. Private Limited (Vapi)
  • K.A. Male Pharmaceuticals Limited (Ankleshwar)
  • Kamani Oil Industries Limited (Mumbai)
  • Strides Research and Speciality Chemicals Limited (Bharuch) 

 

Electricity Boards

  • Gujarat State Electricity Corporation Limited (Wanakbori TPS)
  • Gujarat State Electricity Corporation Limited (Sikka)
  • Jaipur Vidhyut Vitran Nigam Limited (Jaipur)
  • Madhya Gujarat Vij Company Limited (Anand, Borsad, Dabhan, Godhara, Kathalal, Mehamdavad, Nadiad etc.)
  • Ahmedabad Electric Company (Ahmedabad)

 

Engineering Companies

·         ACE Fabricators Private Limited (Mumbai)

·         Amazon Wood Private Limited, (Ranjangaon)

·         Asarwa Mills (Ahmedabad)

·         Fivebros Forgings Private Limited

·         Gujarat Metal Cast (Halol)

·         Hitachi Home and Life Solutions

·         Indo Air Compressors Private Limited (Ahmedabad)

·         Mutha Autocast Private Limited. (Satara)

·         National Process Private Limited. (Ahmedabad)

·         Patel Airtemp (India) Limited. (Ahmedabad)

·         Pelican Rotoflex Private Limited. (Rajkot)

·         Radhe Renewables Energy Private Limited. (Rajkot)

·         Shilp Gravures Limited (Santej and Ahmedabad)

·         Steefo Engineering Corporation (Ahmedabad)

·         Steefo Industries (Ahmedabad)

·         Thermal Systems Private Limited. (Hyderabad)

·         Vijay Tanks and Vessels Limited. (Baroda)

·         Windal Auto Private Limited. (Pune)

 

Government Organizations

  • Gun Carriage Factory (Jabalpur)
  • National Alluminium Corporation Limited (captive Power)
  • National Thermal Power Corporation (Ambernath, Bhandara , Karimnagar, Korba, Sonebhadra)
  • Office of the Archaeologist (Ahmedabad)
  • Ordnance Factory (Ambernath, Bhandara, Dehradun, Kanpur etc.)
  • Rajasthan State Mines and Minerals Limited
  • Rajasthan State Road Transport Corporation Limited. (Jaipur)

 

Municipal Corporations

  • Ahmedabad Municipal Corporation (Ahmedabad)
  • Rajkot Municipal Corporation (Rajkot)
  • Vadodara Municipal Corporation (Vadodara)
  • Surat Municipal Corporation (Surat)

 

Turnkey Contractors

  • Efficient Engineers (India) Private Limited (Ahmedabad)
  • Flow More Pumps Private Limited (Ahmedabad)
  • Aqua Machinery Private Limited (Ahmedabad)
  • Gammon India Limited (Mumbai)
  • P.E.S. Engineers Private Limited
  • Paramount Limited (Baroda)
  • Sri Maruthi Rama projects and Engineers Comnines Private Limited (Secunderabad)
  • Unitech Machine Tools (New Delhi)

 

Water Supply Board

·         Gujarat Water Supply and Sewerage Board (Ahmedabad, Bhuj, Gandhinagar, Jamnagar, Mehsana, Surendranagar etc.)

·         Gujarat Water Research and Development Corporation (Anand and Kalol)

 

 

No. of Employees :

11 (Approximately)

 

 

Bankers :

·         HDFC Bank, Kapadwanj, Gujarat, India

·         State Bank of India, Kapadwanj, Gujarat, India

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Vibhakar J. Trivedi

Chartered Accountant

Address :

Ahmedabad, Gujarat, India

 

 

Sister Concern  :

Vikrant Engineers

 

 

CAPITAL STRUCTURE

 

As on 31.03.2011

 

Capital Investment :

 

Owned :

Not Divulged

Borrowed :

--

Total :

Not Divulged

 

 

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

 

Expected Sales (2011-12) : Rs.24.000 Millions

 

The above information has been parted by Mr. Tejas Shah

 

Note : Sole Proprietory and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry Records.

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

Check List by Info Agents

Available in Report (Yes / No)

1) Year of Establishment

Yes

2) Locality of the firm

Yes

3) Constitutions of the firm

Yes

4) Premises details

Yes

5) Type of Business

Yes

6) Line of Business•

Yes

7) Promoter’s background

--

8) No. of employees

Yes

9) Name of person contacted

Yes

10) Designation of contact person

Yes

11) Turnover of firm for last two years

Yes

12) Profitability for last three years

No

13) Reasons for variation <> 20%

--

14) Estimation for coming financial year

Yes

15) Capital in the business

No

16) Details of sister concerns

Yes

17) Major suppliers

No

18) Major customers

Yes

19) Payments terms

Yes

20) Export / Import details (if applicable)

Yes

21) Market information

--

22) Litigations that the firm / promoter

--

23) Banking Details

Yes

24) Banking facility details

--

25) Conduct of the banking account

--

26) Buyer visit details

--

27) Financials, if provided

No

28) Incorporation details, if applicable

--

29) Last accounts filed at ROC

--

30) Major Shareholders, if available

--

 

 

 

TRADE REFERENCES:

  • ABB Limited
  • ACE Fabricators Private Limited

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.51.16

UK Pound

1

Rs.81.80

Euro

1

Rs.68.34

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

6

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--MARGINS

-5~5

-

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--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

-

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.