1. Summary Information
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|
Country |
|
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Company Name |
INDUSTRIAL AND
POWER SOLUTIONS |
Principal Name 1 |
Mr. G. Mohankrishnan |
|
Status |
Satisfactory |
Principal Name 2 |
-- |
|
|
|
Registration # |
-- |
|
Street Address |
30 EVP Santosh
Nagar, Ramapuram, Chennai – 600089, Tamilnadu, India |
||
|
Established Year |
2004 |
SIC Code |
-- |
|
Telephone# |
91-44-22492500 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-44-22492525 |
Business Style 2 |
Suppliers |
|
Homepage |
-- |
Product Name 1 |
Polymeric Chemicals |
|
# of employees |
15
(Approximately) |
Product Name 2 |
Condenser Dosing Chemicals |
|
Paid up capital |
Not
Divulged |
Product Name 3 |
Epoxy Ceramic Cladding Materials |
|
Shareholders |
NO |
Banking |
Indian Overseas
Bank |
|
Public Limited Corp. |
NO |
Business Period |
8 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba (45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Sister
Concern |
India |
Knosey Filter Private Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
-- |
Current Liabilities |
-- |
|
Inventories |
-- |
Long-term Liabilities |
-- |
|
Fixed Assets |
-- |
Other Liabilities |
-- |
|
Deferred Assets |
-- |
Total Liabilities |
-- |
|
Invest& other Assets |
-- |
Retained Earnings |
-- |
|
|
|
Net Worth |
-- |
|
Total Assets |
-- |
Total Liab. & Equity |
-- |
|
Total Assets (Previous Year) |
-- |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
30,000,000 |
Net Profit |
-- |
|
Sales(Previous yr) |
29,300,000 |
Net Profit(Prev.yr) |
-- |
|
Report Date : |
11.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
INDUSTRIAL AND POWER SOLUTIONS |
|
|
|
|
Registered
Office : |
30 EVP Santosh Nagar, Ramapuram, Chennai – 600089, Tamilnadu |
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|
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Country : |
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|
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Financials (as
on) : |
31.03.2012 |
|
|
|
|
Year of Establishment
: |
2004 |
|
|
|
|
Com. Reg. No.: |
VAT – 33960842057 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Not Divulged |
|
|
|
|
Legal Form : |
Sole Proprietory Concern. |
|
|
|
|
Line of Business
: |
The firm is engaged in manufacturing and supply of polymeric chemicals
for effective condenser, epoxy ceramic cladding materials, condenser dosing
chemicals etc. |
|
|
|
|
No. of Employees
: |
15 (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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Litigation : |
Clear |
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Comments : |
Subject is an established proprietorship 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) |
|
|
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. G. Mohankrishnan |
|
Designation : |
Proprietor |
|
Contact No.: |
91-44-22492500 |
|
Date : |
09.05.2012 |
LOCATIONS
|
Registered Office / Factory : |
30 EVP Santosh Nagar, Ramapuram, Chennai – 600089, Tamilnadu, India |
|
Tel. No.: |
91-44-22492500 / 22492555 |
|
Fax No.: |
91-44-22492525 |
|
E-Mail : |
SOLE PROPRIETOR
|
Name : |
Mr. G. Mohankrishnan |
|
Designation : |
Proprietor |
BUSINESS DETAILS
|
Line of Business : |
The firm is engaged in manufacturing and supply of polymeric chemicals
for effective condenser, epoxy ceramic cladding materials, condenser dosing
chemicals etc. |
|
|
|
|
Products : |
·
Chemical processing and Storage ·
Cooling Water Piping ·
Waste Water Process ·
Swimming Pool Cleaning ·
Waster Neutralization ·
Epoxy Cladding ·
Immersion Lining Systems ·
Chemical Resistant Lining ·
Abrasion Resistant Lining ·
Foul Release
Lining ·
Epoxy and Urethane Injection ·
Epoxy Floor ·
Dust Free Sandblasting ·
Lead and PCB Abatement ·
Industrial Painting of Structures ·
Secondary Containment Lining ·
Pioneers in Lamcer Epoxy Cladding |
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|
|
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Imports : |
|
|
Products : |
Chemicals |
|
Countries : |
·
Korea ·
China |
|
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|
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Terms : |
|
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Selling : |
Cash and Credit (30 Days) |
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|
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Purchasing : |
L/C and Credit (30 Days) |
GENERAL INFORMATION
|
Customers : |
End Users |
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|
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No. of Employees : |
15 (Approximately) |
|
|
|
|
Bankers : |
Indian Overseas Bank, Ramapuram, Chennai – 600089, Tamilnadu, India |
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
Not Available |
|
|
|
|
Sister Concern: |
Knosey Filter Private Limited (Mr. G. Mohankrishnan – Managing
Director) Address: 30 EVP Santosh
Nagar, Ramapuram, Chennai – 600089, Tamilnadu Tel No.: 91-44-22492500
/ 22492555 Fax No.: 91-44-22492525 Email Id: hitechfilters@vsnl.com Website: www.intechfilter.com |
|
|
|
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Divulged |
|
Borrowed : |
-- |
|
Total : |
Not Divulged |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Sales Turnover (Approximately) |
30.000 |
29.300 |
27.500 |
Expected Sales (2012-2013) : Rs.35.000 Millions
The above information has been parted by Mr. G. Mohankrishnan.
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
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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 |
No |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
No |
|
16) Details of sister concerns |
Yes |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
Yes |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
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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 |
Profile:
This is a proprietorship firm. The proprietor
is Mr. G. Mohana Krishnan in 2004. The firm is engaged in providing proper
coating selection, application procedures, and QAQC programs and recommendations
for immersion resistant, chemical resistant, marine fouling resistant, wear
resistant and abrasion resistant applications. Precise procedures and new
application technologies combined with 8 years of experience has earned
Industrial and Power solutions the reputation of being one of the most reliable
high performance coating and linings contractors specializing in immersion
applications. IPS has worked in every major industrial environment, including
power generation, petrochemical, pulp and paper, food processing, high tech,
manufacturing and waste water treatment. IPS has expertise, technical
knowledge, and strong working relationships with manufacturer's technical
departments that guarantees a value added service that is designed to help choose
the best coating system for industrial environments.
Industrial and Power Solutions offers Lamcer,
a lamellar ceramic epoxy cladding. The is an innovative technological
development of using the highly wear resistant ceramics embedded in a specially
developed epoxy resin and depositing them in layers of selective thickness to
provide a unique protection of tube sheets and condenser water boxes.
This whole new technology ensures real rock
hard protective coating and 4 to 6 times stronger than the conventional epoxy
cladding..-
The highly impermeable Lamcer cladding needs
comparatively thin layer and is cost effective. Other features: can be applied
even without sand blasting owing to site restrictions unaffecting the
performance; replacement of tube sheet due to corrosion and erosion can be
avoided; improved and stable vacuum but very little condenser maintenance; and
eliminates condenser tube failure. In addition to the Lamcer protective
cladding the following innovative techniques are employed to make it a total
solution package; chemical cleaning with/without mineral acid to ensure
effective, stress free and flawless cleaning; dozing of polymeric dispersant to
control sedimentation and ensure sustained stable vacuum as an optional feature
at extra cost; and lining of new condenser tubes to avoid fouling without the
requirement of dosing polymeric dispersant, at extra cost.
The coating process is done by epoxy resin
incorporating specially coated lamellar type ceramic particles that overlap one
over other for optimum bonding on any metal surfaces with minimal surface
preparation. The resin is specially prepared for resisting seawater corrosion,
erosion and impingement effects to a thickness of 1500 microns on water box
side; 4000 microns on tube sheet; 1500 microns on door and 100 microns on tube
entry point to 150 mm depth. The lamcer-epoxy cladding is highly resistive so
that galvanic currents cannot pass through it even though highly conductive
seawater is present. This cladding cannot dislodge from rubber lining or
fiberglass lining surface as it is integrally bonded with the surface. The
company manufactures this lamcer-epoxy cladding for having properties of
similar expansion and contraction profile of the metal for no bonding failure.
This procedure is done in Chennai only by IPS and hence they have a very big
list of industrial clients.
The firm employs about 15 people and they make
a turnover of Rs.30.000 Millions per year. Their bankers are ICICI Bank,
Ramapuram, Chennai 600089. There is no way to assess the financial strength of
the firm. They have no exports. Right now they are in the process of importing
caustic Soda from Korea and hope that the shipment reaches them safely. They
have plans to import more products from Korea if this shipment comes through.
Caution advised in all financial dealings with them.
A medium sized firm with a good reputation and
pioneering technology is epoxy cladding. Importers may supply them against
cash. Orders may be placed drawing documents through bank.
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.53.34 |
|
|
1 |
Rs.86.11 |
|
Euro |
1 |
Rs.69.07 |
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 |
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.