MIRA
INFORM REPORT
|
Report Date : |
05.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
ESQUIRE MACHINES
PRIVATE LIMITED |
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Registered Office : |
10, Girdhar Nagar
Society, Behind Punjab National Bank, Atmajyoti Ashram Road, Ellora Park,
Vadodara – 390007, Gujarat, India |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
12.02.1996 |
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Com. Reg. No.: |
04-28799 |
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CIN No.: [Company
Identification No.] |
U63020GJ1996PTC028799 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BRDE00060E |
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Legal Form : |
Private Limited
Liability Company. |
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Line of Business : |
Manufacturer of
machines used in construction activity. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 25000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established
and reputed company having satisfactory track. Directors are reported as
experienced and respectable businessmen. Trade relations are reported as
fair. Business is active. Payments are usually correct and as per
commitments. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered Office : |
10, Girdhar Nagar
Society, Behind Punjab National Bank, Atmajyoti Ashram Road, Ellora Park,
Vadodara – 390007, Gujarat, India |
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E-Mail : |
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Website : |
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Head Office : |
666, Road 54,
GIDC, Makarpura, Vadodara – 390010, Gujarat, India |
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Tel. No.: |
91-265-642489 /
643489 |
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Fax No.: |
91-265-641027 /
647212 |
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E-Mail : |
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Administrative Office : |
316, GIDC,
Por-Ramangamdi, Vadodara - 391243, Gujarat, India |
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Tel. No.: |
91-265-2830965 /
2830189 / 6451915 / 6451916 |
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Mobile No.: |
91-9825466353 |
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Fax No.: |
91-265-2830594 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr Mohanlal
Mahesh Gohil |
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Designation : |
Director |
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Address : |
10, Girdhar Nagar
Society, Atmajyot Ashram Road, Ellorapark, Baroda – 390007, Gujarat, India |
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Date of Birth/Age : |
10.10.1947 |
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Date of Appointment : |
12.02.1996 |
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Name : |
Mr Dinesh Maya
Shintre |
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Designation : |
Director |
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Address : |
A-4, Aakar
Complex, GIDC, Manjalpur Road, Manjalpur, Baroda – 390011, Gujarat, India |
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Date of Birth/Age : |
14.05.1959 |
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Date of Appointment : |
01.04.2003 |
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Name : |
Mr Vasantrao Anil
Phadke |
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Designation : |
Director |
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Address : |
140, Shakti Nagar
Society, Near Mother School, Baroda – 390021, Gujarat, India |
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Date of Birth/Age : |
22.06.1955 |
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Date of Appointment : |
01.05.2005 |
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Name : |
Mrs Mayaben Dinesh
Shintre |
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Designation : |
Director |
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Address : |
A-4, Aakar
Complex, GIDC, Manjalpur Road, Manjalpur, Baroda – 390011, Gujarat, India |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Mr Mohanlal
Mahesh Gohil |
216000 |
72.79 |
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Mr Anil Phadke |
4000 |
1.34 |
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Mrs Kokilaben
Gohil |
15000 |
5.05 |
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Mrs Sandhya Gohil |
20000 |
6.74 |
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Mrs Aarti Gohil |
25000 |
8.42 |
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Mr Mahesh Gohil –
HUF |
12600 |
4.25 |
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Mr Srigarasing
Saini |
10 |
0.00 |
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Esquire
Equipments Private Limited |
100 |
0.03 |
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Mr Rajput
Gangaben |
10 |
0.00 |
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Mr Mahesh Anuj
Gohil |
3970 |
1.34 |
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Mrs Mayaben
Shintre |
40 |
0.01 |
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Total |
296730 |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of
machines used in construction activity. |
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Products : |
Company Product Range : The ESQUIRE Product Range includes Concrete Mixers, Concrete Batchers, Tilting Bucket Trolleys and Tower Hoists. The Company also makes ancillary equipment like scaffoldings, wheel barrows and hand carts. They also make Pan Mixers suitable for mixing castable cement, refractories, cattle feeds, mineral processing, pharmaceuticals, chemicals etc..
ESQUIRE Concrete Mixers offer a wide range. You can choose from the Hand Feed variety to mixers with Mechanical or Hydraulic Hoppers in diverse sizes. They can additionally be provided with shaker gear or jacking arrangements. For controlled concrete, ESQUIRE can offer calibrated water tank fitted on the mixer.
ESQUIRE Concrete Batchers are very popular because of their design and applicability. The size is compatible with 14/10 and to/7 concrete mixers. Two separate buckets are provided for sand and gravel. The height of the batcher is fine tuned so as to unload the material directly into the mixer hopper. The steel yard knife facilitates accurate weight comparison to get the desired design mix of concrete.
ESQUIRE Tilting Bucket Trolleys are easy to operate. They help render better finish due to bulk unloading, reduce material loss and give substantial savings in manpower costs.
ESQUIRE Tower Hoists are available in three models -
They are suitable for 10/7 mixers (one bag load carrying capacity). |
GENERAL
INFORMATION
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No. of Employees : |
About 100 |
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Bankers : |
Bank of Baroda,
Por, District - Vadodara |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Haribhakti and
Company Chartered
Accountants |
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Address : |
18, Haribhakti
Colony, Race Course Circle, Vadodara – 390007, Gujarat, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5,00,000 |
Equity Shares |
Rs 10/- each |
Rs 5.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2,96,730 |
Equity Shares |
Rs 10 /- each |
Rs 2.967 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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2.967 |
2.967 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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3.625 |
2.269 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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6.592 |
5.236 |
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LOAN FUNDS |
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1] Secured Loans |
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6.055 |
3.455 |
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2] Unsecured Loans |
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2.275 |
3.897 |
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TOTAL BORROWING |
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8.330 |
7.352 |
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DEFERRED TAX LIABILITIES |
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1.456 |
1.542 |
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TOTAL |
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16.378 |
14.130 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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9.772 |
8.949 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.887 |
0.841 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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5.699 |
4.800 |
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Sundry Debtors |
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7.951 |
10.174 |
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Cash & Bank Balances |
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4.712 |
0.112 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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1.422 |
0.542 |
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Total
Current Assets |
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19.784 |
15.628 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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11.150 |
9.647 |
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Provisions |
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2.988 |
1.757 |
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Total
Current Liabilities |
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14.138 |
11.404 |
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Net Current Assets |
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5.646 |
4.224 |
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MISCELLANEOUS EXPENSES |
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0.073 |
0.116 |
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TOTAL |
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16.378 |
14.130 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover |
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71.670 |
43.010 |
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Total Income |
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71.670 |
43.010 |
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Profit/(Loss) After Tax |
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5.365 |
1.912 |
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Earnings in Foreign Currency : |
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Total Earnings |
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24.795 |
14.013 |
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Expenditures : |
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Interest |
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0.594 |
0.327 |
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Depreciation & Amortization |
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0.735 |
0.593 |
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Other Expenditure |
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64.975 |
40.178 |
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Total Expenditure |
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66.304 |
41.098 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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7.48 |
4.44 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.14 |
2.17 |
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Current Ratio (Current Asset/Current Liability) |
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1.39 |
1.37 |
LOCAL AGENCY
FURTHER INFORMATION
History and Background
ESQUIRE MACHINES PVT. LTD., (ESQUIRE), is a leading manufacturer and exporter of quality construction equipment in India. The Company is based in Vadodara, Gujarat. It reaches out to customers all over India through a nationwide network of dealers. ESQUIRE has supplied machines to leading construction companies, builders and contractors with excellent services and support. Established in 1975, it completes 25 years of exemplary service to the civil construction industry in the year 2000. And walks into the new millennium with added confidence and promise.
Company Facilities :
ESQUIRE believes
in total quality management and complete customer satisfaction. It sources the
right material and develops designs to deliver sturdy and reliable equipment.
All products are manufactured at it's most sophisticated plant admeasuring
50,000 sq. ft. of work space. The workshop has a computerised design
department, modern tool room facilities and update machinery to consistently
produce equipment of desired standards. First class construction needs top
class equipment. And ESQUIRE is always ready to provide the same to its
esteemed customers.
Company Future Plane :
ESQUIRE is soon
launching a 14/10 Concrete Mixer, Reverse Rotating Drum Mixer, Transit Mixer
& Mini Batching Plant. Plans are also on the anvil to develop equipment for
the Road Construction Industry, like Road Rollers, Paver Finishers and Hot
Mixing Plants
Company Membership:
ESQUIRE is a member of the following organisations
- Builders Association Of India (BAI)
- Vadodara Chambers Of Commerce & Industry (VCCI)
- Baroda Management Association (BMA)
- Indo German Chamber Of Commerce (IGCC)
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Name of the company |
ESQUIRE MACHINES PRIVATE LIMITED |
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Presented By |
MR ANIL V PHADKE |
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1) Date and description of instrument creating the change |
Agreement dated
14.06.2005 for Term Loan against hypothecation of movables. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Amount secured by
charge Term Loan Rs
0.250 Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
On Tangible
Movables property Viz, Bus achier make and present personal guarantee of
directors of the company. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
1] Hypothecation
on movable property Viz Bus and Personal guarantee of directors of the
company. 2]Term Loan – Rs
0.250 Millions Margin - 50% Rate – 10% over
PLR 3] Guarantee
Loan/Cash Credit shall be guaranteed by Mr Anil V Phadke
and Mrs Mayaben Shinter |
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5) Name and Address and description of the person entitled to the charge. |
Bank of Baroda,
Por , District Baroda |
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6) Date and brief description of instrument modifying the charge |
NA |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
NA |
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.42.90 |
|
UK Pound |
1 |
Rs.84.69 |
|
Euro |
1 |
Rs.57.21 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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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 |
YES |
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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 |
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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 |
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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 |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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