|
Report Date : |
25.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
A.R.K.S. ENGINEERING INDUSTRIES |
|
|
|
|
Registered
Office : |
No.-19, Depot Street, Choolai, Chennai - 600112, Tamilnadu |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Year of
Establishment : |
1964 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Not Divulged |
|
|
|
|
Legal Form : |
Sole Proprietary Concern |
|
|
|
|
Line of Business
: |
Manufacturer, Wholesaler and Distributor and Suppler of Aluminium
Ladders |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (52) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an old and established proprietary concern having a good
track record. Trade relations are decent. Business is active. Payment terms are
regular and as per commitment. The concern can be considered 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ 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 DETAILS)
|
Name : |
Mr. Dhanasekar |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9940029995 |
|
Date : |
23.07.2013 |
LOCATIONS
|
Registered Office : |
No.-19, Depot Street, Choolai, Chennai - 600112, Tamilnadu, India |
|
Tel. No.: |
91-44-25383707/25363997/25532147/25532148/25383706 |
|
Mobile No.: |
91-9940029995 (Mr. Dhanasekar) |
|
Fax No.: |
91-44-25383706/25383707/25393997 |
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E-Mail : |
|
|
Website : |
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|
|
|
|
Factory : |
No.10, Thattankulam Road, Lotus Colony, 3rd Street, Near Madhavaram
Panchayat Board Office, Madhavaram, Chennai – 600060, Tamilnadu, India |
|
Tel. No.: |
91-44-25531545 / 25532148 / 25532147 |
SOLE PROPRIETOR
|
Name : |
Mr. Dhanasekar |
|
Designation : |
Proprietor |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Wholesaler and Distributor and Suppler of Aluminium
Ladders |
|
|
|
|
Products : |
· Aluminium Reclining Ladders (Height 4' to 24') · Self Supporting Platform Ladders (Height 4' to 20') · Aluminium Extension Wall Reclining Ladders (Height 10' to 36') · Aluminium Self Supporting Extension Ladders (Height 10' to 36') · Aluminium Self Supporting Telescopic Ladders Mounted on Small Wheels (Height 10' to 36') · Aluminium Tiltable Trolley Tower Extension Ladders (Height 20' to 35', 24' to 43') · Trolley Aluminium Wide Step Ladders (Height 4' to 12') · Self Supporting Tubular Ladders (Available in 3' To 6') · Aluminium Safety Tower Trolley Ladders (Adjustable in Variable Degrees from 35 to 90, Height 20' to 36'/20' to 50') |
|
|
|
|
Terms : |
|
|
Selling : |
Cash / Credit |
GENERAL INFORMATION
|
Customers : |
Wholesalers, Retailers and End Users |
|
|
|
|
No. of Employees : |
50 (Approximately) |
|
|
|
|
Bankers : |
Central Bank of India, Choolaimedu Branch, Chennai – 600112,
Tamilnadu, India |
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
Not Available |
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|
|
|
Sister Concern : |
GKM Ladders Address: Plot No.2, Kamarajapuram
Main Road End, Kamarajapuram, Sembakkam (Opposite Road to Sembakkam Town
Panchayat Office), East Tambaram, Chennai – 600073, Tamilnadu, India Tel. No.: 91-44-22273030 Mobile No.: 91-9941013821
(Mrs. Kavitha Ganesh) Email ID: gkmladders@gmail.com Website: www.gkmladders.com Sekar
Engineering Works Address: No.19, Depot
Street, Choolal, Chennai – 600112, Tamilnadu, India R K S
Engineering Industries |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Not Divulged |
|
Borrowed : |
Not Divulged |
|
Total : |
Not Divulged |
FINANCIAL DATA
[all figures are in
Rupees Millions]
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
80.000 |
The above information has been declined by Mr. Dhanasekar
Note : Sole Proprietory and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry.
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 |
No |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last one year |
Yes |
|
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 |
No |
|
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 |
Yes |
|
28] |
Incorporation details, if applicable |
No |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
No |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
No |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
PROFILE
This is a proprietorship firm started in the year 1964. The proprietor Mr. Dhanasekar has been in business for over 40 years. He prides himself in the quality of the products he makes and says that his firm is number one in South India only due to quality products. He has many corporate that have set up manufacturing facilities in Chennai and particularly in South India on his client list. He is also very happy that he has a number of clients from North India. He says" while Mumbai has upteen number of ladder manufacturers it is a matter of deep satisfaction for me that North Indian customers from Pune, Chinchwad, Nagpur, Aurangabad and other cities place their orders with me". He gets repeat orders from the same company sometimes and also orders from the group if he had supplied to one company in the group.
The factory is situated in Madhavaram while the administrative office and sales office is located in Choolaimedu. About 50 people work for him. They are pioneers in the manufacture of industrial ladders. Their product line is as follows :
• Aluminium Reclining Ladders (Height 4' to 24')
• Self Supporting Platform Ladders (Height 4' to 20')
• Aluminium Extension Wall Reclining Ladders (Height 10' to 36')
• Aluminium Self Supporting Extension Ladders (Height 10' to 36')
• Aluminium Self Supporting Telescopic Ladders Mounted on Small Wheels (Height 10' to 36')
• Aluminium Tiltable Trolley Tower Extension Ladders (Height 20' to 35', 24' to 43')
• Trolley Aluminium Wide Step Ladders (Height 4' to 12')
• Self Supporting Tubular Ladders (Available in 3' To 6')
• Aluminium Safety Tower Trolley Ladders (Adjustable in Variable Degrees from 35 to 90, Height 20' to 36720'
They products are mainly used by companies or industries but they also have a range for domestic and other industries like construction, sanitation and house keeping, maintenance contractors, hospitals, multi storied flats etc. The main companies they serve are :
• Hindustan Lever Limited
• Hindustan Aeronautics Limited
• Southern Railway
• Department of Space
• Nuclear Power Corporation Limited
• Ashok Leyland
• MRF
• Wipro
• Infosys
• TCS - Tata Consultancy Service
• Chennai Petroleum Corporation
• Oil and natural Gas Corporation Limited
• Neyveli Lignite Corporation
• Bharat Heavy Electrical Limited
• Airport Authority of India
• TVS Motor Company
• Power Grid Corporation Of India
• Wheels India Limited •
• Saint Gobain Glass Limited
• Hyundai Motors Limited
The group is engaged in the manufacture of Aluminum ladders under 4 firms as follows:
1. R K S Engineering Industries
2. Sekar Engieering works
3. G K M Ladders
4. ARAS Engineering Industries ( subject company of this report)
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 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.58.94 |
|
|
1 |
Rs.90.48 |
|
Euro |
1 |
Rs.77.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
52 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.