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Report Date : |
12.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
SRG ERECTORS |
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Registered
Office : |
21/58 Old Well Street, Tiruvottriyur, Chennai 600019, Tamil Nadu |
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Country : |
India |
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Financials (as
on) : |
31.03.2011 |
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Year of
Establishment : |
2006 |
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Capital
Investment / Paid-up Capital : |
Not Divulged |
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Legal Form : |
Partnership Concern with an unlimited liability of the partners |
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Line of Business
: |
Civil Construction and Erectors |
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No. of Employees
: |
35 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 |
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|
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established partnership 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 company 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 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY (General Information)
|
Name : |
Ms. Lakshmi |
|
Designation : |
Office Assistant |
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Contact No.: |
91-44-43859745 |
|
Date : |
22.02.2012 |
LOCATIONS
|
Registered Office : |
21/58 Old Well Street, Tiruvottriyur, Chennai 600019, Tamil Nadu, India |
|
Tel. No.: |
91-44-43859745 |
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Fax No.: |
91-44-43859745 |
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E-Mail : |
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Factory : |
93/46 Kothavel Chavadi Street, West Saidapet, Chennai 600015, Tamil Nadu, India |
PARTNERS
|
Name : |
Mr. G Shyam Kumar |
|
Designation : |
Partner |
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|
|
|
Name : |
Mr. R Ravishankar |
|
Designation : |
Partner |
KEY EXECUTIVES
|
Name : |
Ms. Lakshmi |
|
Designation : |
Office Assistant |
BUSINESS DETAILS
|
Line of Business : |
Civil Construction and Erectors |
GENERAL INFORMATION
|
No. of Employees : |
35 Approximately |
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|
|
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Bankers : |
ICICI Bank, Saidapet Branch, Chennai 600015, Tamilnadu, India |
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|
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
Not Available |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Not Divulged
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
100.000 |
Expected Sales (2011-2012) : Rs.
The above information has been parted by Ms. Lakshmi
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
LOCAL AGENCY FURTHER INFORMATION
PROFILE:
This is a partnership firm.
Started in the year 2006, by Mr Shyam Kumar and Mr Ravishankar, SRG
erectors has made a name for itself in a very short span. They are basically erectors and have
specialized in the erection of factories, commercial complexes. We have given at the end of this report their
main projects, which will give you an idea of the nature and the vast span of
their work. They have increased their
clientele and are now onto major projects.
Mr Shyam Kumar is the son of Mr S R Gopal, proprietor of Ms Shyam Engg
company. He has worked in BHEL for over
10 years and with Llyod Insulation as a construction and site incharge for over
20 years.
Their turnover is over 100 millions and their bankers are ICICI Bank,
Saidapet Branch, Chennai 600015. They employ
over 35 people.
A medium sized partnership firm that is expanding its workforce and
increasing its turnover. However caution
advised in all financial dealings with them.
COMMERCIAL ACTIVITIES
Working
Major Projects For: M/S
Eta Engineering Private Limited
M/S Eta Star Private
Limited
M/S Sterling Wilson
M/S Rmz Infotech Private Limited
M/S Bluestar Limited
Working Projects: Eta Techno Park
(Navallur)
2011
To 2012 On Going:
Dell Computer (Sunguvachatiram)
Frontier Lifeline Private Limited (Elavur)
Polaries Software Lab Limited (Navalur)
Daimler Project, Oragadam
Their Old Projects
2006
To 2007 :
Chennai City Center
Eta Technopark, Phase-1, Block-1 and 4
Wipro Cdc 5
Tekmeadows Phase Ii
2007 To 2008:
Chennai City Center
Sri Ramachandra Medical College and Research Institute Eta Techno Park,
Phase-1, Block-4 Nokia Jabil
Rmz Millinium Ii (Campus 2, 3a, 3b, )
Ecci
Tekmeadows Phase Iii
Wipro Cdc 6
Eta Technopark Phase Ii
Rmz Info Park
Rmz -- Block 2
Jabil Circuit
2008 To 2009:
Chennai Airport
Rmz Millinium Ii
Bahwan Cyber Tech
Eta Technopark (Block 2 and 3)
Npcl
Wipro Cdc 6
Vesteon
Ecci Info Park
2009 To 2010:
Chennai Airport
Delhi Airport
Rmz Millinium Ii
2009 To 2010:
Firepro Prestige Cyber Towers
Firepro Rbs (Abn Amro)
Tekmeadows
Rmc Hospital, Coimbatore
New Legislative Assembly (Chennai)
Ticel Phase Ii
Lifestyle
Nokia Iii
Sanmina (Oragadam)
Primecold Storage (Calcutta)
2010 To 2011:
New Legislative Assembly
Coimbatore Airport
Chennai Airtel
Hindustan Cocacola --- Hvac
Hindustan Cocacola --- Process
Eta Technopark (Block 2 and 3)
Dhanalakshmi Srinivasa Medical College and Hospital
Trichy Elcot (Sez)
Tidel Park, Coimbatore
Frontier Lifelineprivate Limited.
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.50.02 |
|
|
1 |
Rs.79.01 |
|
Euro |
1 |
Rs.66.18 |
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 |
6 |
|
--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 |
NO |
|
--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 |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.