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Report Date : |
01.08.2012 |
IDENTIFICATION DETAILS
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Name : |
ALLIED ELECTRICALS |
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Registered
Office : |
A-27, HMT Industrial Estate, Jalahalli, Bengaluru - 560013, Karnataka |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Year of
Establishment : |
1964 |
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Capital
Investment / Paid-up Capital : |
Rs.13.000 Millions |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business
: |
Design, Development and manufacturer of Coolant Pumps of various types
such as Cooling Water Pumps, Recirculation Pumps, Proto type Coolant Pumps, Immersion
type Coolant Pumps, also customized models of Pumps for use in Machine Tools
Industries such as Turning Machines, Machining, Drilling, Grinding jobs
related Machineries. |
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No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 52000 |
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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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office/ Factory : |
A-27, HMT Industrial Estate, Jalahalli, Bengaluru - 560013, Karnataka,
India |
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Tel. No.: |
91-80-28389744/ 28389702 |
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Fax No.: |
91-80-23491877 |
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E-Mail : |
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Website : |
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Area : |
15000 Sq. ft. |
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Location : |
Leased |
SOLE PROPRIETOR
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Name : |
Mr. Akhil Shandilya |
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Designation : |
Proprietor |
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Date of Birth/Age : |
52 Years |
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Qualification : |
Engineer |
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Experience : |
25 Years |
BUSINESS DETAILS
|
Line of Business : |
Design, Development and manufacturer of Coolant Pumps of various types
such as Cooling Water Pumps, Recirculation Pumps, Proto type Coolant Pumps,
Immersion type Coolant Pumps, also customized models of Pumps for use in
Machine Tools Industries such as Turning Machines, Machining, Drilling,
Grinding jobs related Machineries. |
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Terms : |
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Selling : |
Local Sale (30 to 60 days) |
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Purchasing : |
Local Purchase (30 to 60 days) |
GENERAL INFORMATION
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Suppliers : |
·
Conti Tech, Mumbai ·
Foremost Industries, Mumbai ·
K K N Enterprises, Bangalore |
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Customers : |
·
HMT Machine Tools Limited, Bangalore ·
P.V. Precision, Chennai ·
Mahindra and Mahindra Limited, Mumbai |
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No. of Employees : |
20 (Approximately) |
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Bankers : |
State Bank of Mysore, HMT Industrial Estate, Jalahalli, Bangalore -
560013, Karnataka, India |
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Facilities : |
Total facilities about Rs.2.400 Millions
(From State Bank of Mysore) |
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Banking
Relations : |
-- |
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Auditors : |
Not Available |
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Memberships : |
· Peenya Industries Associations, KASSIA · SSI |
CAPITAL STRUCTURE
As on: 31.03.2012
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Capital Investment : |
|
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Owned : |
Rs.13.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs.13.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
31.03.2012 |
31.03.2011 |
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Sales Turnover (Approximately) |
|
18.000 |
15.000 |
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Profit/Loss for the year |
About 10 to 12% |
||
Expected Sales (2012-2013): Rs.20.000 Millions
Average value of inventories at any given time: Rs.2.000 Millions
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
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2] |
Locality of the firm |
Yes |
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3] |
Constitutions of the firm |
Yes |
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4] |
Premises details |
Yes |
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5] |
Type of Business |
Yes |
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6] |
Line of Business |
Yes |
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7] |
Promoter's background |
Yes |
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8] |
No. of employees |
Yes |
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9] |
Name of person contacted |
No |
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10] |
Designation of contact person |
No |
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11] |
Turnover of firm for last two years |
Yes |
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12] |
Profitability for last two years |
No |
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13] |
Reasons for variation <> 20% |
-- |
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14] |
Estimation for coming financial year |
Yes |
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15] |
Capital in the business |
Yes |
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16] |
Details of sister concerns |
No |
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17] |
Major suppliers |
Yes |
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18] |
Major customers |
Yes |
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19] |
Payments terms |
Yes |
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20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
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22] |
Litigations that the firm / promoter involved in |
-- |
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23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking account |
-- |
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26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
No |
|
29] |
Last accounts filed at ROC |
No |
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30] |
Major Shareholders, if available |
No |
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31] |
PAN of Proprietor/Partner/Director, if available |
No |
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32] |
Passport No of Proprietor/Partner/Director, if available |
No |
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33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
AS PER WEBSITE DETAILS:
PROFILE
There company was incorporated in the mid 1964
with the vision to offer various kinds of high-quality pumps to different
industries. Ever since there inception, they are constantly working on delivering
hallmark quality products along with innovative designs and modern technology.
There company manufactures and indirectly
exports CP and CPM Coolant Pumps, which are an
immersion, type Centrifugal Pumps. The primary objective of these pumps
is dissipation of heat from the work piece and the cutting edges. With years of
expertise, they have achieved leading edge technology which goes far beyond the
manufacturing of Coolant Pumps. CP series pumps are used in general purpose
machines, like Turning, Milling, Drilling, Grinding and other machines.
They have heavily invested into equipping
there selves with state-of-the-art engineering tools and an extensive in-house
resource department, which enables them to manufacture and deliver custom made
and regular pumps more effectively and efficiently.
All there machines are versatile, cost
effective and robust, producing high quality goods at reasonable rates. Backed
by a team of qualified professionals, they constantly endeavor to understand
and meet the ever-changing demands of the customer. There corporate mission is
to be a leader in the pump industry and they would be delighted to attend to
all the inquiries for any products or services required.
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.55.81 |
|
|
1 |
Rs.87.67 |
|
Euro |
1 |
Rs.68.45 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
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 |
4 |
|
--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 |
NO |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.