May 3, 1999

 

 

NAME

 

MASS-TECH CONTROLS PRIVATE LIMITED

 

REGISTERED OFFICE

 

2/7 Meghal Industrial Estate, Devidayal Road, Mulund (West), Mumbai – 400 080, INDIA

Tel. No.      91-22-568 4338 / 565 5047 / 591 4150

Fax No.      91-22-567 0620

E-mail        1] masstech@bom3.vsnl.net.in

                   2] masstech@vsnl.com

 

FACTORY

 

Elek-Tek (India) Private Limited, G-53, M. I. D. C., Jalgaon – 425 003, Maharashtra, INDIA

Tel. No.      91-257-210 061 / 211 074

Fax No.      91-257-211 074

 

BRANCH

 

C/o. Union Sales Private Limited, F-10, 1st Floor, White House, St. Marks Road, Bangalore – 560 025, Karnataka, INDIA

Tel. No.      91-80-227 6446

Fax No.      91-80-227 6446

 

REPRESENTATIVE

 

C/o. Vihar Engineering Private Limited, 17 Pattammal Street, 1st Floor, Mandaveli, Chennai – 600 028, Tamilnadu, INDIA

Tel. No.      91-44-494 3968

Fax No.      91-44-494 3968

E-mail        vihar@giasmd01.vsnl.net.in

 

HISTORY

 

The company was incorporated on 1st October, 1993 at Mumbai in Maharashtra having Company Registration Number 46895.

 

LEGAL FORM

 

It is a Private Limited Liability company.

 

DIRECTORS

 

Subhash N. Patil

Managing Director

Sanjay S. Supe

Director

Amita M. Supe

Director

 

MAJOR SHAREHOLDERS

 

Ms. Smita S. Patil                   8,410 shares

Mr. S. N. Patil                         3.050 shares

Mr. S. N. Patil (HUF)               1,950 shares

Mr. Anurag Patil                     1,221 shares

Ms. Harsha Supe                             1,100 shares

Ms. Manasi Patil                       851 shares

Mr. Sanjay Supe                       770 shares

 

BUSINESS

 

The company is engaged in manufacturing of Battery Chargers (upto 500 KW rating), L. T. Panels (AC & DC Distribution Boards), P.C.C., MCC Panels, Control & Relay Protection Panels, Distribution/Instrumentation & Protection Panels Rectifiers (5000 KW).

 

During the financial year 1997-98, total income for the year Rs.150118 millions were 22.89% higher than that of the previous year ended on 31st March, 1997. Profit before Tax at Rs..0.306 millions were higher by 18.53% as compared to that of previous year.

 

The company’s fixed assets of important value includes Office Premises, Plant & Machinery, Furniture & Fittings, Computer, Air Conditioner, Office Equipments, Vehicles and Cycles.

 

The company operates from a caption owned office premises. Caption factory is also owned by the company.

 

The company employs 50 persons in factory and 12 persons in office.

 

SISTER CONCERNS

 

K                 Elek-Tek (India) Private Limited, G-53, M.I.D.C., Jalgaon – 425 003, Maharashtra, INDIA

 

BANKERS

 

K                 Bank of Baroda, Mulund (West), Mumbai – 400 080, INDIA

[Facilities : C. C. Limit – Rs.0.8 million; Term Loan – Rs.0.5 million; Bank Guarantee – Rs.4 millions]

 

AUDITORS

 

K                 Viren Gandhi & Company

Chartered Accountants

 

FINANCIAL INFORMATION

 

The company's latest financial information for the period ended 31st March, 1998 is enclosed herewith.

 

CAPITAL STRUCTURE

 

Authorised Capital :

25,000

Equity Shares of Rs.100/- each

Rs.2.500 millions

 

 

 

Issued, Subscribed & Paid-up Capital :

13,202

Equity Shares of Rs.100/- each

Rs.13.202 millions

 

COMMENTS

 

Subject is a well-established and reputed company in its’ field. Directors are reported as experienced, respectable and resourceful businessmen. Their trade relations are reported as fair. General financial position is satisfactory. Payments are usually correct and as per commitments.

 

The company can be considered good for normal business dealings at usual trade terms and conditions.

 

ABRIDGED BALANCE SHEET AS ON 31ST March, 1998

[figures are in Rupees Millions]

 

SOURCES OF FUNDS

 

 

31.03.1998

31.03.1997

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

 

1.320

0.941

2] Share Application Money

 

0.000

0.025

3] Reserves & Surplus

 

0.227

0.136

 

 

 

 

LOAN FUNDS

 

 

 

1] Secured Loans

 

1.420

1.005

2] Unsecured Loans

 

2.150

1.143

 

 

 

 
GRAND TOTAL

 

5.117

3.250

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

2.371

1.749

 

 

 

 

INVESTMENTS

 

0.100

0.100

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

Inventories

 

0.638

0.587

Sundry Debtors

 

8.353

6.098

Cash & Bank Balances

 

1.081

0.940

Other current assets

 

3.656

0.000

Loans & Advances

 

0.175

0.219

Total Current Assets

 

13.903

7.844

Less :

 

 

 

Current Liabilities & Provisions

 

11.281

6.446

Net Current Assets

 

2.622

1.398

 

 

 

 

MISCELLANEOUS EXPENSES

 

0.024

0.003

 

 

 

 
GRAND TOTAL

 

5.117

3.250

 

IMPORTANT FINANCIAL INFORMATION FOR LAST TWO PERIODS

[figures are in Rupees Millions]

 

PARTICULARS

 

 

31.03.1998

31.03.1997

Sales Turnover

 

26.229

21.343

[including other income]

 

 

 

 

 

 

 

Profit/(Loss) Before Tax

 

0.306

0.258

Provision for Taxation

 

0.139

0.171

Profit/(Loss) After Tax

 

0.167

0.087

 

 

 

 

Dividend

 

0.077

0.078

 

 

 

 
Expenditures :

 

 

 
Cost of Sale

 

20.856

16.936
Manufacturing, Administrative & Other Expenses

 

4.045

3.518
Salaries & Wages

 

0.514

0.351
Depreciation

 

0.507

0.280
Preliminary Expenses written-off

 

0.001

0.001
Total Expenditures

 

25.923

21.086