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Report Date : |
19.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
SHREE SURYA COATING |
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Registered
Office : |
Lav Kush Apartment, Flat No. 1 and 2, Maneksha Nagar, Behind Dwarka
Hotel, Nashik – 422011, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Year of
Establishment : |
1996 |
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Capital
Investment / Paid-up Capital : |
Rs. 120.000 Millions |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business
: |
Manufacturer of Epoxy Paints and Polyurethane Paints |
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No. of Employees
: |
42 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 480000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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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 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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Anil Sonar |
|
Designation : |
Marketing Manager |
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Contact No.: |
91-9226885030 |
|
Date : |
17.05.2012 |
LOCATIONS
|
Registered Office : |
Lav Kush Apartment, Flat No. 1 and 2, Maneksha Nagar, Behind Dwarka
Hotel, Nashik – 422011, Maharashtra, India |
|
Tel. No.: |
91-253-6577958 |
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Mobile No.: |
91-9226885030 (Mr. Anil Sonar) |
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Fax No.: |
91-253-2590131 |
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E-Mail : |
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Website : |
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Area : |
800 Sq.ft. |
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Location : |
Owned |
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|
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Factory : |
B-27, Stice Musalgaon Taluka, Sinnar District, Nashik – 422103, |
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Area : |
1000 Sq.mtr. |
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Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. R. G. Pawar |
|
Designation : |
Proprietor |
|
Address : |
Off. Flat No. 1, Maneksha Nagar, Lavkush Apartment, Nashik – 422011, |
|
Date of Birth/Age : |
52 Years |
KEY EXECUTIVES
|
Name : |
Mr. Anil Sonar |
|
Designation : |
Marketing Manager |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Epoxy Paints and Polyurethane Paints |
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|
|
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Products : |
·
Zinc Phosphate Red Oxide ·
Zinc Phosphate Grey ·
Zinc Chromate Yellow Primer ·
Zinc Rich Epoxy ·
Polyurethane High Build Grey Primer ·
Cold Cure Finish Coat ·
Epoxy MIO Paint |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Suppliers : |
·
Resine and Plastic |
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Customers : |
End Users ·
Crompton Greaves
Group ·
ABB Limited ·
Kirloskar Oil Engines Limited ·
Bharat Forge Limited ·
Signum Fire Protection Limited ·
G.C.L. India Limited ·
McNally Bharat Engineering Company Limited ·
Saint Gobain Seva Engineering Limited · Ace Micromatic Group. ·
Siemens Limited ·
Bajaj Auto Limited ·
Bharat Fritz Werner Limited ·
Kenametal Widia ( ·
Hindustan Hardy Spicers Limited ·
Kirloskar Brothers Limited ·
ITL Industries Limited ·
Lokesh Machines Limited |
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No. of Employees : |
42 (Approximately) |
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Bankers : |
Axis Bank Limited, Nashik, |
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Facilities : |
Cash Credit 1.000 Million |
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Banking
Relations : |
-- |
CAPITAL STRUCTURE
AS ON 31.03.2012
|
Capital Investment : |
|
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Owned : |
5.000 Millions (Estimated) |
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Borrowed : |
-- |
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Total : |
5.000 Millions (Estimated) |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
31.03.2012 |
31.03.2011 |
|
Sales Turnover (Approximately) |
|
120.000 |
90.000 |
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Expected Sales (2012 - 13) : Rs. 150.000 Millions
The above information has been parted by Mr. Anil Sonar
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 |
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2. Locality of the firm |
Yes |
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3. Constructions of the firm |
Yes |
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4. Premises details |
Yes |
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5. Type of Business |
Yes |
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6. Line of Business |
Yes |
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7. Promoter’s background |
Yes |
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8. No. of Employees |
Yes |
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9. Name of person contacted |
Yes |
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10. Designation of contact person |
Yes |
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11. Turnover of firm for last three years |
Yes |
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12. Profitability for last three years |
Yes |
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13. Reasons for variation <> 20% |
-- |
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14. Estimation for coming financial year |
No |
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15. Capital in the business |
Yes |
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16. Details of sister concerns |
No |
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17. Major suppliers |
Yes |
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18. Major customers |
Yes |
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19. Payments terms |
Yes |
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20. Export / Import details |
No |
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21. Market information |
-- |
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22. Litigations that the firm / promoter involved |
-- |
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23. Banking Details |
Yes |
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24. Banking facility details |
Yes |
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25. Conduct of the banking account |
-- |
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26. Buyer visit details |
-- |
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27. Financials, if provided |
Yes |
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28. Incorporation details, if applicable |
No |
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29. Last accounts filed at ROC |
No |
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30. Major Shareholders, if available |
No |
AS PER WEBSITE DETAILS
PROFILE:
From a very modest beginning they have grown rapidly in recent
years into a recognized and respected manufactures of Epoxy and Polyurethane paints.
As a manufacturer of Epoxy and
Polyurethane Paints, their product range includes various kinds
of Primers, Intermediate Coats,
Topcoats, Strippable coating and Masking Compound. These products
are highly anti-corrosive, chemical resistant, weather resistant and U.V.
resistant. These products finds applications in Original Equipment
Manufacturers (OEM’s), Control Panels, Motor / Pump Industries, Plastics
substrates, Sterile Areas, Automobile and Locomotives industries, Glass
Industry, Transformers, Special Purpose Machines, Thermoforming machinery,
Concrete and Steel structure, Projects and Process Industries etc. They are
already servicing and supplying their product to well known OEM manufacturer.
Their aim is to fight corrosion and help sustain the nation's industrial
economy. And total customer satisfaction through quality products and services,
continuously and consistently.
They are committed to a perpetual quality vigil throughout the operations,
covering not only production, but all vital functions such as sales, technical
support, and after sales service. Subject committed to
free technical consultancy for coating systems for the valuable products.
Customers are assured that quality standards are stringently
maintained during their production cycles and their
quality procedures are in line with the latest industry standards.
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. 54.88 |
|
|
1 |
Rs. 86.46 |
|
Euro |
1 |
Rs. 69.49 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
|
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
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--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.