|
Report Date : |
03.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
HEXAGON TECHNOLOGIES INDIA |
|
|
|
|
Registered
Office : |
AC 12/4A, Second Avenue, Anna Nagar West, Chennai – 600040, Tamilnadu |
|
|
|
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Country : |
India |
|
|
|
|
Year of
Establishment : |
2000 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Not Divulged |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business
: |
Supplier of Power Coating Plants and Equipments. |
|
|
|
|
No. of Employees
: |
10 (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 |
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|
|
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Litigation : |
Clear |
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|
|
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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 condition. |
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 |
|
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 INFORMATION)
|
Name : |
Mr. Tamizh Selvan |
|
Designation : |
Executive |
|
Contact No.: |
91-9840757352 |
|
Date : |
30.07.2012 |
LOCATIONS
|
Registered Office : |
AC 12/4A, Second Avenue, Anna Nagar West, Chennai – 600040, Tamilnadu,
India |
|
Tel. No.: |
91-44-26193152 |
|
Mobile No.: |
91-9840049393 |
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Fax No.: |
91-44-26210240 |
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E-Mail : |
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|
Website : |
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|
|
|
Factory : |
15/65 A, Devan Mission, SIDCO Industrial Estate, Ambattur Industrial
Estate, Chennai – 600058, Tamilnadu, India
|
|
|
|
|
Representative Office: |
Located at ·
Chennai ·
Coimbatore ·
Bangalore ·
Mumbai |
SOLE PROPRIETOR
|
Name : |
Mr. Venu Raju |
|
Designation : |
Proprietor |
|
Qualification : |
Mechanical Engineer |
KEY EXECUTIVES
|
Name : |
Mr. Tamizh Selvan |
|
Designation : |
Executive |
BUSINESS DETAILS
|
Line of Business : |
Supplier and Importer of Power Coating Plants and Equipments. |
|
|
|
|
Products : |
·
Ovens ·
Conveyor ·
Pre Treatment Plants ·
Jumbo Booth
Powder Coating Booth ·
Liquid Painting Booth ·
Manual Electrostatic Powder Coating Spray Gun ·
Automatic Powder Coating Spay Gun ·
Powder Coating Systems Controllers – Optistar ·
Powder Coating Systems Controllers – Optiflex ·
Manual Electrostatic Equipments ·
Reciprocators ·
Powder Coating Plants ·
Schaefnacker Motherson ·
Shardar Motor Industries-Noida |
|
|
|
|
Terms : |
|
|
Selling : |
Credit (30 Days) |
|
|
|
|
Purchasing : |
L/C and Credit (30 Days) |
GENERAL INFORMATION
|
Customers : |
End Users ·
Naveen Industries ·
Neel Industries ·
Nucleus Satellite Communications ·
Numeric Power Systems ·
Omax Auto ·
protective Coating Private Limited ·
Regent Metal Tech ·
Samraj Engineering ·
Saw Pipes Mathura ·
Surface Treatment Systems ·
Western Refrigeration ·
Nidhi Auto ·
Onida ·
Polycoat ·
Renson ·
VIP ·
Voltas ·
Videocon ·
Rieter LMW |
|
|
|
|
No. of Employees : |
10 (Approximately) |
|
|
|
|
Bankers : |
·
State Bank of India ·
Axis Bank ·
ICICI Bank |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
Not Available |
|
|
|
|
Sister Concern : |
Bhavam Engineering Address: 15/65 A, Devan Mission,
SIDCO Industrial Estate, Ambattur Industrial Estate, Chennai – 600058,
Tamilnadu, India |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Divulged |
|
Borrowed : |
-- |
|
Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
in Rupees Millions]
NOT DIVULGED
The above information has been declined by Mr. Tamizh 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
three years |
No |
|
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 |
Yes |
|
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 |
No |
|
28] |
Incorporation details, if
applicable |
No |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
No |
|
31] |
PAN of Proprietor, if
available |
No |
|
32] |
Passport No of
Proprietor, if available |
No |
|
33] |
Voter ID No of
Proprietor, if available |
No |
PROFILE
This is a proprietorship firm started in the year 2000 by Mr. Venu Raju. The firm is engaged in the supply of Powder Coating Plants and Equipments in India. They cater to the small and large scale industry in South India. A mechanical engineer by profession Mr. Venu Raju with a single purpose of mind has taken this firm to great heights. With the result they are ranked very high in the supply of powder coating equipments in the whole of the country. They have established a strong relationship with their customers and the industry as a whole. Since they deal in internationally renowned companies, their products are the best. They not only supply the equipment by also install them and help their customers to use them efficiently and profitably.
Hexagon Technology India offers high quality and reliable Electrostatic Powder Coating Equipments frim ITW Gema, Switzerland. ITW Gema is one of the world's largest and leading electrostatic powder coating equipment manufacturer and supplier, with manufacturing and R and D base at St. GAllen in Switzerland.
Apart from the above program they design, manufacture and sell complete lines for powder and liquid paint systems, with technical support from OMT of Germany. Their manufacturing range includes booths for powder and liquid application, pre treatment plants and high energy saving ovens for all applications. They also offey CNC complete sheet metal machines from Durma and Birlikmakina of Turkey. The firm also offers CNC dot marking machines from Technomark of France.
The firm is basically an importer and trader. They import their machines from the below mentioned companies and trade them all over India. The firm nets a turnover of about Rs.15.000 Millions per year INR ( 2,70,000 US $).
·
Gema Switzerland GmbH
Address:
MOvenstrasse
17, CH-9015 St.Gallen, Switzerland
Tel
No.: +41 (0)71 313 83 00
Fax
No.: +41 (0)71 313 83 83
E-mail
Id: info@gema.eu.com
·
Parc d'activite STELYTEC - 42400 Saint-Chamond –
FRANCE
·
o.m.tGmbH
Address: Surface- und
Materialtechnology, Seelandstr. 7, 23569 Lubeck Germany
Tel No.: +49 451 39006-0
Fax
No.: +49 451 39006-31
E-Mail
Id:
info@omt.de
·
Durma
Address: OSB 75. YII Bulvar~N ilDfer Bursa / TR
Tel
No.: +902242191800
Fax
No.: +90 224 242 7580
E-Email
Id:
durma@durmazlar.com.tr
·
RAS Reinhardt Maschinenbau GmbH
Address:
Richard-Wagner-Str.
4-1 0 71065 Sindelfingen
Deutschland
Tel
No.: +49-7031-863-0
Fax
No.: +49-7031-863-185
There are other companies too whose products the firm deals in. Now the modus operandi is very simple. They have appointed sales executives all over India. It is the responsibility of the sales people to book the order and send it to the registered office at Chennai. The import order is placed as per the requirements and import made. The materials are supplied to the end user by Hexagon immediately. The firm gets its profit by adding it to the price of the products.
They are now in the process of importing both from Switzerland and Sweden. The Sweden consignment has landed and they are expecting the Switzerland land consignment anytime now.
Their bankers are State Bank of India, lClCl bank, Axis Bank and others. About 10 people work for them. The address given below is their registered office and HQ. The ware house is situated in Sidco Industrial Estate. Their warehouse and manufacturing facility is a sister concern called Bhavam Engineering. The materials are stored there till their dispatch.
There is no way they can assess the financial strength of the firm. Caution advised in all financial transaction with them. Orders may be placed against LCs and suppliers may use the bank transfer or documents thru bank for safety.
A medium sized firm, offering powder coating equipment. Their main advantage is that not many firms offer these equipments in South India hence their reputation is high.
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.55.78 |
|
|
1 |
Rs.87.75 |
|
Euro |
1 |
Rs.68.32 |
INFORMATION DETAILS
|
Report Prepared
by : |
BSN |
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 |
YES |
|
--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.