|
Report Date : |
08.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
KUTTY BROTHERS |
|
|
|
|
Registered
Office : |
Door No.11/562, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Year of
Establishment : |
1987 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Not Divulged |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAAPI1135 |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business
: |
Subject Engaged in the Fabrication and Erection of Industrial Sheds,
Plants, Machinery, Boilers, etc. |
|
|
|
|
No. of Employees
: |
220 Approximately |
RATING & COMMENTS
|
MIRAs Rating : |
Ba (47) |
|
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. Ismail |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9444014737 |
|
Date : |
07.05.2012 |
LOCATIONS
|
Registered Office : |
Door No.11/562, Vanagaram Road, Athipet, Ambattur, Chennai
- 600 058, Tamilnadu, India |
|
Tel. No.: |
91-44-26821314, 26821315, 26821316 |
|
Mobile No.: |
91-9444014737 (Mr. Ismail) |
|
Fax No.: |
91-44-26821316 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Administrative
Office: |
87 Menambedu Road, Mannurpet, Near Ambattur Industrial Estate Bus
Depot Chennai 600050, Tamilnadu, India |
|
Tel. No.: |
91-44-26512027 |
|
Fax No.: |
91- |
|
|
|
|
Factory : |
Door No. 276-D, Vanagaram Road, Athipet, Chennai - 600
058, Tamilnadu, India |
|
Fax No.: |
91-44-2052 1027 |
SOLE PROPRIETOR
|
Name : |
Mr. Ismail |
|
Designation : |
Proprietor |
BUSINESS DETAILS
|
Line of Business : |
Subject Engaged in the Fabrication and Erection of Industrial Sheds,
Plants, Machinery, Boilers, etc. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit (30 Days) |
GENERAL INFORMATION
|
Customers : |
·
End Users ·
Malladi Drugs and Pharma Limited, Ranipet. ·
Empee Distillery Limited., Chennai. ·
TCP Limited, Gummidipoondi. · Visteon Ford, Maraimalar Nagar, Chennai ·
Indian Organic Chemicals Limited, Chennai. · Thiru Arooran Sugars Limited, Kumbakkonam ·
Nerolac Paints Limited., Chennai. ·
Thermal Systems (Hyd) Private Limited, Hyderabad |
|
|
|
|
No. of Employees : |
220 Approximately |
|
|
|
|
Bankers : |
1.
Indian
Bank, Padi Branch., Chennai, Tamilnadu, India 2.
City Bank, Anna Salai Branch, Chennai, Tamilnadu,
India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
Not Divulged
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sales Turnover (Approximately) |
110.000 |
100.000 |
95.000 |
Expected Sales (2012-2013) : Rs.150.000 millions
The above information has been parted by Mr. Ismail
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
LOCAL AGENCY FURTHER INFORMATION
PROFILE:
Subject is a proprietorship firm started in
the year 1987. The proprietor is Mr.
Ismail. The firm is very well known,
reputed and its services are much sought after in Tamilnadu, Kerala and
Maharashtra. They are engaged in the
fabrication and erection of Industrial sheds, plants, machinery, boilers for
the past 25 years. The firm was started
in the year 1987 in a small way and now has grown to do a turnover of over 100
120 millions. The firm is approves by
IBR for Fabrication and Erection of Boilers and Accessories. They also have a separate section for the hire
of tools and tackles, cranes and machinery of all types. Their business affairs can be divided into 5
major sections as follows:
·
Erection
·
Fabrication
·
Design and execution
·
Shut down and maintenance
·
Hire
The above five are discussed in detail in their
factory column given below. About 200
people work with them. Their bankers are
Indian Bank, Padi and City Bank, Anna Salai, Chennai 600001.
They are listed on two of Indias B2B portal
Tradeindia and Indiamart. There is no
way to assess the financial strength of the firm. Caution advised in all financial transactions
with them. However their machinery and
factory is estimated at a worth of 250 millions as per them and they do not
have any loan outstanding.
A big, old, reputed industrial fabricator
and engineers. Their turnover for the
last three years are as follows:
2009-2010 - 95 millions
2010-2011 - 100 millions
2011-2012 - 110 millions
Estimated for 2012 - 2013 150
millions. They have got a new order from
Mumbai and Atomic Power Project, Kalpakkam, Chennai
The state of the art factory and godown
houses all their machinery and is used for pre fabrication works and sometimes
even fabrication done here and the machines / boilers / structures are moved to
the clients premises.
1.
Erection
They undertake erection of heavy equipment such as D.G.Sets, Turine and
Alternators, Chillers, machines, HOT and EOT cranes. The names of the clients are given at the
last of this report.
2.
Fabrication They undertake all types of
fabrication and piping works.
Fabrication in Ferrous and Non Ferrous materials , Fabrication of MS
Vessels and storage tanks with lead bonding with modern technique is their
specialty.
3.
Design and execution On providing them the
details of the requirement, they can design and erect any type of machinery or
factory on a turn key basis.
4.
Maintenance -
They can do maintenance work of all machinery in a factory within a very
short shut down period.
5.
Hire See the list of machinery at the last of
this report they offer for hire.
FABRICATION
Subject undertaking all types of Fabrication
and Erection jobs. Fabrication in Ferrous and Non-Ferrous materials has been
carried out. Fabrication of M.S. Vessels and Storage Tanks with lead bonding with
the modern technique is their speciality. Details of such works executed for
theri various clients are furnished hereunder
|
TYPE OF PLANTS |
NAME OF CLIENT |
|
|
Chemical Plants |
·
Malladi Drugs and Pharma Limited, Ranipet. ·
EID Parry India Limited., Chennai. ·
Aswini Bio Pharma, Renigunta. ·
Tanfac Industries Limited., Cuddalore. ·
Krishna Indochem Private Limited, S.R.Gandigal
Road, Gummidipoondi. ·
Sree Royalaseema Hi-Strength Hypo Limited,
Kurnool. |
|
|
Alchohol Plants |
·
Gemini Distilleries Nanjankode, Mysore. ·
Vijaya Ind. alchohol Limited, Lingareddipalayam,
Pondicherry. ·
Pearl Distillery Limited., Ongole, Andhra. ·
Empee Distillery Limited., Chennai. ·
Balajee Distillery Limited., Chennai. |
|
|
Power Plants |
·
Binny Engg. Limited, Site at MDPL, Chinglepet. ·
TCP Limited, Gummidipoondi. ·
LVS Power Plant, Visaz. ·
Chitrakoot Power and Steel Limited,
Gummidipoondi. |
|
|
Pressure
Equipments |
·
E.I.D. Parry India Limited, Ennore, Chennai. ·
Bay Organics Limited, Madharpakkam,
Gummidipoondi. ·
Saboo Engineers Private Limited, Rajastan. |
|
|
Structurals |
·
Hi-tech Carbon, Gummidipoondi. ·
Visteon Ford, Maraimalar Nagar, Chennai. ·
GEA Energy Systems India Limited, Chennai. ·
Electro Steel Castings Limited, Gummidipoondi. ·
LandT Limited., Site at Saint Gobain Glass
Factory. ·
Rishabh Eng. Limited, Ambattur, Chennai. |
|
|
Conveyors |
·
E.I.D. Parry India Limited., Ennore, Chennai. ·
Lanco Industries Limited, Srikalahastri, Andhra |
|
|
Gas Holders |
·
Aswini Bio Pharma, Renigunta. ·
Indian Organic Chemicals Limited, Chennai. ·
Vijaya Indi Alcohol Limited, Pondicherry. ·
Malladi Drugs and Pharma Limited, Ranipet. |
|
|
Effiuent
Treatment Plant |
·
Malladi Project and Pharma Limited, Centre
Ranipet. ·
Aswini Bio Pharma Limited, Renigunta. ·
Thiru Arooran Sugars Limited, Kumbakkonam. ·
shree Rajshree Sugar and Distillery Limited.,
Madhurai. |
|
|
Storage Tanks |
·
Maharashtra Distillery Limited, Aurangabad. ·
Thiru Arooran Sugars Limited, Kumbakkonam. ·
Nerolac Paints Limited., Chennai. ·
Hi-tech Carbon, Gummidipoondi. |
|
|
Boiler Work |
·
Tanfac Industries Limited, Cuddalore ·
Thermal Systems (Hyd) Private Limited, Hyderabad ·
Hi-Tech Carbon, Gummidipoondi. |
|
|
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 |
-- |
|
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 |
Yes |
|
12) Profitability for last three years |
-- |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
No |
|
16) Details of sister concerns |
No |
|
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 |
-- |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
-- |
|
29) Last accounts filed at ROC |
-- |
|
30) Major Shareholders, if available |
-- |
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 Intl
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 companys 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.53.34 |
|
|
1 |
Rs.86.09 |
|
Euro |
1 |
Rs.69.36 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
This score serves as a reference to assess SCs 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.