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MIRA
INFORM REPORT
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Report No. : |
491239 |
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Report Date : |
14.02.2018 |
IDENTIFICATION DETAILS
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Name : |
MEDIMEK INDUSTRIES |
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Registered
Office : |
B-50-52, Additional M I D C, Anand
Nagar, Ambernath (East), Thane-421506, Maharashtra |
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Tel. No.: |
91-251-2621124, 2621242 |
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Country : |
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Financials (as
on) : |
31.03.2017 |
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Year of
Establishment : |
2003 |
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Capital
Investment / Paid-up Capital : |
Not Divulged |
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IEC No.: |
Not Applicable (As informed by the management that firm
does not have export and import) |
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GSTIN: |
27ADBPC1957E1ZY |
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TIN No.: |
Not Divulged |
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PAN No.: [Permanent Account No.] |
ADBPC1957E |
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Legal Form : |
Sole Proprietary Concern |
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Line of Business
: |
Manufacturer
of hospital furniture and medical steel furniture. (Confirmed by management) |
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No. of Employees
: |
105 (Approximately) |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Maximum Credit Limit : |
USD 71000 (In INR 4562105.00) |
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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 was established in the year 2003 as proprietorship firm and it is having satisfactory track records. It is a manufacturer of hospital furniture and medical steel furniture. Mr. Prashant Paradkar (COO) has provided general information and revenue figure for the (FY 2015-16 as INR 220 million and in FY 2016-17 as INR 249 million). However financials could not be verified from any sources. The firm also derives strength from its long standing track records of business operation and healthy revenue profile. Trade relations are reported as fair. Business is active. Payments are usually correct. The firm can be considered for business dealings at usual trade terms and conditions. Note: Site visit was conducted at the address which you have provided. Our executive has successfully traced the firm on the given address. At the premises our executive met to Mr. Ramesh (Office Executive) of the firm and he provided contact number i.e. 0251-2621124. As per our executive observation, location of the firm is difficult to find. Landmark was MIDC. It is a shed type premises. Locality appears to be industrial. Area seems to be neutral. 35 employees (approximetly) were sighted into premises. Name board of the firm was sighted at the given address. |
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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
EXTERNAL AGENCY RATING
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Rating Agency Name |
Not Available |
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Rating |
Not Available |
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Rating Explanation |
Not Available |
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Date |
Not Available |
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
31-03-2016.
BIFR (Board for Industrial & Financial Reconstruction) LISTING
STATUS
Subject’s name is not listed as a Sick Unit in
the publicly available BIFR (Board for Industrial & Financial
Reconstruction) list as of 14.02.2018
IBBI (Insolvency and Bankruptcy Board of India) LISTING STATUS
Subject’s name is not listed in the publicly
available IBBI (Insolvency and Bankruptcy Board of India) list as of report
date.
INFORMATION PARTED BY
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Name : |
Mr. Prashant Paradkar |
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Designation : |
Chief Operating Officer |
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Contact No.: |
91-8888200065 |
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Date : |
12.02.2018 |
LOCATIONS
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Registered Office/ Factory: |
B-50-52, Additional M I D C, Anand
Nagar, Ambernath (East), Thane-421506, Maharashtra, India |
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Tel. No.: |
91-251-2621124, 2621242 |
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Mobile No.: |
91-8888200065 91-8888200064 (Mr. Prashant Paradkar) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Locality: |
Industrial (As per site visit) |
SOLE PROPRIETOR
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Name : |
Mr. Milind Ramkrishna Chaudhari |
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Designation : |
Proprietor |
KEY EXECUTIVES
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Name : |
Mr. Prashant Paradkar |
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Designation : |
Chief Operating Officer |
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PAN No.: |
ADBPC1957E |
BUSINESS DETAILS
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Line of Business : |
Manufacturer
of hospital furniture and medical steel furniture. (Confirmed by management) |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Available |
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Imports : |
Not Available |
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Terms : |
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Selling : |
L/C, Cheque and Others (RTGS) |
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Purchasing : |
L/C, Cheque and Others (RTGS) |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
End Users, OEM’s
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No. of Employees : |
105 (Approximately) |
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Bankers : |
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Auditors : |
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Name : |
Mr. Vipul Shah Chartered Accountant |
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Collaborators : |
Not Available |
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Membership : |
Not Available |
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Sister Concern : |
-- |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Not Divulged |
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Borrowed : |
-- |
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Total : |
Not Divulged |
FINANCIAL DATA
[all figures are INR
Million]
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Particulars |
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31.03.2017 |
31.03.2016 |
31.03.2015 |
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Sales Turnover (Approximately) |
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249.800 |
220.000 |
175.000 |
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(Increase in
order) |
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The above information has been parted by Mr. Prashant Paradkar (Chief
Operating Officer)
Note: Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
FINANCIAL ANALYSIS
[all figures are INR
Million]
YEAR-ON-YEAR GROWTH
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Year
on Year Growth |
31.03.2015 |
31.03.2016 |
31.03.2017 |
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INR
In Million |
INR
In Million |
INR
In Million |
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Sales Turnover (Approximately) |
175.000 |
220.000 |
249.800 |
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25.714 |
13.545 |
LOCAL AGENCY FURTHER INFORMATION
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Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
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1 |
Year of establishment |
Yes |
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2 |
Constitution of the entity -Incorporation
details |
Yes |
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3 |
Locality of the entity |
Yes |
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4 |
Premises details |
Yes |
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5 |
Buyer visit details |
Yes |
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6 |
Contact numbers |
Yes |
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7 |
Name of the person contacted |
Yes |
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8 |
Designation of contact person |
Yes |
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9 |
Promoter’s background |
No |
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10 |
Date of Birth of Proprietor / Partners /
Directors |
No |
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11 |
Pan Card No. of Proprietor / Partners |
Yes |
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12 |
Voter Id Card No. of Proprietor / Partners |
No |
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13 |
Type of business |
Yes |
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14 |
Line of Business |
Yes |
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15 |
Export/import details (if applicable) |
No |
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16 |
No. of employees |
No |
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17 |
Details of sister concerns |
No |
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18 |
Major suppliers |
Yes |
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19 |
Major customers |
Yes |
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20 |
Banking Details |
Yes |
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21 |
Banking facility details |
No |
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22 |
Conduct of the banking account |
-- |
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23 |
Financials, if provided |
Yes |
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24 |
Capital in the business |
No |
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25 |
Last accounts filed at ROC, if applicable |
No |
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26 |
Turnover of firm for last three years |
Yes |
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27 |
Reasons for variation <> 20% |
-- |
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28 |
Estimation for coming financial year |
No |
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29 |
Profitability for last three years |
No |
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30 |
Major shareholders, if available |
No |
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31 |
External Agency Rating, if available |
No |
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32 |
Litigations that the firm/promoter
involved in |
-- |
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33 |
Market information |
-- |
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34 |
Payments terms |
Yes |
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35 |
Negative Reporting by Auditors in the
Annual Report |
No |
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OBSERVATION POINTS |
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Name of Company : |
MEDIMEK INDUSTRIES |
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Address : |
B-50-52, Additional M I D C, Anand Nagar,
Ambernath (East), Thane-421506, Maharashtra |
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Tel No.: |
91-251-2621124 |
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Person to whom we met: |
Mr. Ramesh (Office Executive) |
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Name Board: |
Sighted |
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Location: |
Difficult |
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Landmark (If Any): |
MIDC |
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Total Floors of the building: |
Shed type premises |
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Locality: |
Industrial |
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Area: |
Neutral |
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No. of Employees
seen at Premises : |
35 (Approximately) |
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Visibility of
Items: |
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Furniture items sighted: |
Yes |
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Proof of visit: |
Photograph |
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
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Currency |
Unit
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INR |
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US Dollar |
1 |
INR 63.61 |
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1 |
INR 90.17 |
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Euro |
1 |
INR 78.95 |
INFORMATION DETAILS
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Information
Gathered by : |
SUP |
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Analysis Done by
: |
PSD |
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Report Prepared
by : |
RKI |
SCORE FACTORS
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--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 |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.