|
Report Date : |
01.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
BHAVAM ENGINEERING |
|
|
|
|
Registered
Office : |
No 15/65A, Devan |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Year of
Establishment: |
2005 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Not Divulged |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business
: |
Manufacturer, Trader and Importer of Fabrication engineers |
|
|
|
|
No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
INFORMATION PARTED BY (General Details)
|
Name : |
Mr. Tamil Selvan |
|
Designation : |
Executive |
|
Contact No.: |
91-9840757352 |
|
Date : |
30.07.2012 |
LOCATIONS
|
Registered Office : |
No 15/65A, Devan |
|
Tel. No.: |
91-44-26193082 / 26193152 |
|
Mobile No.: |
91-9840757350 (Mr. V. Alagusundararaj) |
|
E-Mail : |
SOLE PROPRIETOR
|
Name : |
Mr. Venu Raju |
|
Designation : |
Proprietor |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Trader and Importer of Fabrication engineers |
|
|
|
|
Products : |
·
Pvc fabrication ·
Heavy Fabricated Parts ·
Process Pipelinies ·
Fabricated Machine Parts ·
Weld Yoke ·
Automatic Fabricator ·
Powder Coating Booths ·
Recovery systems ·
Jumbo Booths ·
Manual /Automatic ·
Filter Cartridge I Mono Cyclone / Multi cyclone
For Large Parts ·
Liquid Paint Booths Manual Dry Type ·
Manual Water curtain / No Pump Type ·
Automatic Booth ·
Side Draft Booth ·
Down Draft Booth ·
Plastic Painting Plants ·
Conveyor Systems ·
Air Handling & Supply Units ·
Paint Sludge Removal Systems ·
Ducting Systems ·
Automotive Refinishing Booths For Cars 1 Buses ·
Ovens Batch Type ·
Conveyor Type A- Zone ·
Camel back Straight through ·
Heating Medium Electric, HSD, LDO ,FO, LPG, NG ·
Oven Application Area - Powder Coating / Liquid painting / Tea leaf Drying
/ Coir Drying / Fabric Coating I PTFE Coating ·
Foundry Mould 1 Core Curing I Drying
Ovens ·
Spray booths - liquid water wash side draught ·
Special type of powder booth with special
combination recovery and feed back system. |
|
|
|
|
Terms : |
|
|
Selling : |
Credit 30 days |
GENERAL INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
20 (Approximately) |
|
|
|
|
Bankers : |
·
State Bank of ·
Axis Bank ·
ICICI Bank |
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
Not Available |
|
|
|
|
Sister Concern: |
·
Hexagon Technologies Add: AC 12 4th Floor, 2nd
Avenue, Anna Nagar, Chennai – 600 040, |
CAPITAL STRUCTURE
As on 31.03.2012
|
Capital Investment : |
|
|
Owned : |
Not Divulged |
|
Borrowed : |
-- |
|
Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
100.000 |
The above information has been parted by Mr. Tamil Selvan.
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 |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
One year |
Yes |
|
12] |
Profitability for last
three years |
No |
|
13] |
Reasons for variation
<> 20% |
---- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
No |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
---- |
|
22] |
Litigations that the firm
/ promoter involved in |
---- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking
account |
---- |
|
26] |
Buyer visit details |
---- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
No |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
No |
|
31] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
32] |
Passport No of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
Profile:
This is a
proprietorship firm. The proprietor is Mr. Venu Raju. The firm was started in
the year 2005. This firm is the manufacturing facility for Hexagon Technologies
India. Hexagon Technologies India is engaged in the import of Powder coating
equipments. They offer high quality reliable electrostatic powder coating
equipments from ITW Gema
The firm offers
turnkey solutions for powder coating plants. The positive aspects of powder
coating make it different from any other painting process.
·
High paint film quality with extreme corrosion
protection and scratch and impact resistance.
·
Environmentally safe, no exhaust air problems and no
paint sludge accumulation
·
Easily automated
·
Coating process is practically free of losses, due
to recovery of powder overspray
·
Exceptionally economical, even with smaller line
capacities
·
Both manual and automatic coatings are absolutely
trouble free, since no paint runs or drips are produced in powder coating.
Coating thickness of 40 to80 microns can be achieved in one coat, and even
significantly larger thickness with appropriate preheating of work pieces.
New powder booths
and custom system concepts make it possible for users who have relatively high
frequency of color change, to achieve economical operation with the great
flexibility. Bhavam Engineering has several alternate options to select from
and can therefore recommend the best system for each individual application
such as powder booths with filter recovery, with cyclone separation or
compatible systems using both processes in combination. Bhavam Engineering
plans and builds complete turnkey paint systems, all from a single source. In
the process their project engineers, designers and control specialists work
with state of the art technologies based on experience obtained from hundreds
of installations. They develop new designs in small teams therefore one always
has the assurance of receiving the latest technology without coordination
problems, and with only one responsible contact partner to handle all aspects
relating to one's new paint facility. All in all they are the manufacturing
unit of Hexagon Technologies and 60th of them work in tandem to produce the
best solutions for the powder coating industry.
The factory
employs 20 people and their revenue is about 500.000 million INR or (9, 00,000
US $ per annum). Since they are situated in the Government Industrial Estate
subsidies applicable to the Small sector units are available to them. Their
corporate office is the same as Hexagon Technologies India. Correspondence,
phone and other communication is centralized. A medium sized manufacturing
facility running in tandem with Hexagon. Their turnover and other assets are
valued at 100.000 million INR. However caution advised in all financial
dealings with them.
The factory is equipped
with the following machinery:
·
Booth with Mono Cyclone
·
Manual Cartridge Filter Booth
·
Open Type Manual Cartridge Booth
·
Air handling Units
·
Powder Sieving Units
·
Paint Sludge removal systems
·
Electric Linear drive reciprocators
·
Powder transfer system
·
Powder Management systems
·
Machineries at the factory
·
CNC Press brake and axis from - Durma
·
CNC Shearing Machines Variable rake - Durma
·
Profile bending machine - Birlik
·
Circular Shearing machine 3-roll bending machine -
Birlik
·
Beading and Seaming machine - Birlik
·
Roll former- RAS Reinhardt
·
Hydraulic Punch - Unipunch
·
Power Press - Mankoo
·
Spot Welding machine - Technique
·
MIG welding - Migatronic
·
TIG welding - Migatronic
·
Welding machine -3- Kempps
·
Pedestal Drilling machine-1
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.55.80 |
|
|
1 |
Rs.87.66 |
|
Euro |
1 |
Rs.68.45 |
INFORMATION DETAILS
|
Report Prepared
by : |
NID |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
No |
|
--LITIGATION |
YES/NO |
No |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
No |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
No |
|
--EXPORT ACTIVITIES |
YES/NO |
No |
|
--AFFILIATION |
YES/NO |
Yes |
|
--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 |
|
|
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.