MIRA
INFORM REPORT
|
Report Date : |
03.04.2007 |
IDENTIFICATION
DETAILS
|
Name : |
MAMATA MACHINERY PRIVATE LIMITED |
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Registered Office : |
5/1/1A, G.I.D.C. Vatva,
Phase-1, Vatva, Ahmedabad 382445. Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
17.04.1979 |
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Com. Reg. No.: |
04-3363 |
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CIN No.: [Company
Identification No.] |
U29259GJ1979PTC003363 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMM01242D |
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PAN No.: [Permanent
Account No.] |
AABCM8241P |
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Legal Form : |
Private limited liability company. |
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Line of Business : |
Manufacturers and Sellers of Bag Making Machine, Servo Motor/Servo
Drive/Stepper Motor, Rotating Electric Machine and Sachet Packing Machine. |
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 475000 |
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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
|
Registered Office / Factory : |
5/1/1A, G.I.D.C. Vatva,
Phase-1, Vatva, Ahmedabad 382445. Gujarat, India |
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Tel. No.: |
91-79-66309800 |
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Fax No.: |
91-79-25832026 |
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E-Mail : |
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Website : |
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Location : |
Leased |
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Sales Office : |
A-804,Shapth-IV,Opp. Karnavati
Club, S. G. Highway, Ahmedabad - 380 051, India |
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Tel. No.: |
91-79-6450 7766 |
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Fax No.: |
91-79-6652 7266 |
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E-Mail : |
sales@mamata.com |
DIRECTORS
|
Name : |
Mr. Mahendra Narsinhbhai Patel |
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Designation : |
Chairman cum Managing Director
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Address : |
15, Kairavi Bunglows, Near
Sarathi Hotel, Bodekdev, Ahmedabad – 380054, Gujarat, India |
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Date of Birth/Age : |
17.01.1949 |
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Qualification : |
M. Sc.[Indl. Engg. And Admn.]
from U.K. |
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Date of Appointment : |
12.09.1994 |
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Name : |
Mr. Chandrakant B. Patel |
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Designation : |
Whole Time Director |
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Address : |
100, Surdhara Bunglows, Drive-in-Road, Thaltej, Ahmedabad
– 380054, Gujarat, India |
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Date of Birth/Age : |
10.01.1954 |
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Date of Appointment : |
12.03.1990 |
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Name : |
Mrs. Nayanaben M. Patel |
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Designation : |
Director |
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Address : |
15, Kairavi Bunglows, Near Sarathi Hotel, Bodekdev,
Ahmedabad – 380054, Gujarat, India |
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Date of Birth/Age : |
11.08.1952 |
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Date of Appointment : |
12.08.1992 |
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Name : |
Mr. Gurucharan Singh Bhuller |
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Designation : |
Director |
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Address : |
Wettery Str 7 C, 63505, Langensflbold Germany |
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Date of Birth/Age : |
02.12.1940 |
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Date of Appointment : |
28.04.1995 |
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Name : |
Mr. Kishan Keval Kohli |
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Designation : |
Director |
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Address : |
Odenwals STR 16 65779, Kelkhelm, Fischbach, Germany |
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Date of Birth/Age : |
28.08.1958 |
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Date of Appointment : |
28.04.1995 |
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Name : |
Mr. Manish Mahendra Patel |
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Designation : |
Director |
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Address : |
15 Kairavi Bungalow, Near Sarathi Hotel, Bodakdev, Ahmedabad – 380054,
Gujarat |
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Date of Birth/Age : |
19.06.1980 |
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Date of Appointment : |
14.03.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders |
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No. of Shares |
|
Rabiben N. Patel |
|
53200 |
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Nayanaben M. Patel |
|
19402 |
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Chandrakant B. Patel |
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2600 |
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Manish M. Patel |
|
5230 |
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Gurucharan Singh Bhuller |
|
11250 |
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Kishan Keval Kohli |
|
11250 |
|
KBM Investments Holding SA |
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25500 |
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Mahendra Patel |
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19568 |
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Narasinh Patel |
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25000 |
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Sun Corporate Services Private Limited |
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70000 |
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Mahendra Patel – HUF |
|
5000 |
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Total |
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248000 |
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Category |
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Percentage of
Holding |
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Foreign holding |
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19.00 % |
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Bodies corporate |
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28.00 % |
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Directors or relatives of directors |
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53.00 % |
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Total |
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100.00 % |
BUSINESS DETAILS
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Line of Business : |
Manufacturers and Sellers of Bag making Machine, Servo
Motor/Servo Drive/Stepper Motor, Rotating Electric Machine and Sachet Packing
Machine. |
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Products : |
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Exports : |
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Countries : |
Kenya, Zambia, Tanzania, Zimbabwe, Nigeria and Uganda |
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Imports : |
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Products : |
Raw materials, spares, capital goods, finished goods etc. |
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Countries : |
Canada, Germany and U.K |
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Terms : |
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Purchasing : |
L/C [60/90 days] |
GENERAL
INFORMATION
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Suppliers : |
Ø
Schelemkas Emterprises Inc. USA Ø
KHS Maschinen Und Anlagenbau AG, Germany Ø
Klockner Hansel, Germany |
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No. of Employees : |
50 |
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Bankers : |
State Bank of India Industrial Estate Branch, Vatva, Ahmedabad – 382445,
Gujarat, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Dinesh R. Shah and Company Chartered Accountants |
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Address : |
51, Madhuban, Near Madalpur Under Bridge, Ellisbridge,
Ahmedabad – 380006, Gujarat, India |
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Memberships : |
Ø Engineering
Export Promotion Council Ø Gujarat
Export Promotion Council Ø Vatva
Industrial Association Ø Gujarat
Plastic Manufacturers' Association Ø All
India Plastic Manufacturers' Association |
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Collaborators : |
Ø
Polydynamics Inc., Canada -
For Spiral and Mandrel Type Blow Film Die Agents Ø
Klockner Hansel GmbH, Germany -
For Obtaining Know-How for packing machinery against
Lum-sum-Technical Fees Ø
Pure Pack Inc., USA -
To Develop a wide variety of FFS Machines Ø
Klockner Bartelt, Germany -
To make pouch machines in India Ø
KHB Investment Holdings S.A., Luxumberg -
Technical and Financial Tie-up. |
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Associates/Subsidiaries : |
Ø Mamata USA Inc Ø
Mamata Solar Private Limited, 53, Madhuban Ellisbridge,
Ahmedabad – 380006, Gujarat, India Tel. No. 91-79-26440331 Fax No. 91-79-26421324 E-mail :
mamata@wilntonline.net -
Engaged in field of renewable energy equipment. Developing patented innovative space
cooling systems from long term storage or from direct use of Solar Thermal
Energy. Ø
Mamata Brampton Engineering Private Limited, 53, Madhuban
Ellisbridge, Ahmedabad – 380006, Gujarat, India Tel. No. 91-79-26440331 Fax No. 91-79-26421324 E-mail : mamata@wilnetonline.net -
This is a joint-venture company with Brampton Engineering
Inc, Canada. The company manufactures
state of art, Multi-layer or co-extrusion, as well as monolayer Blown Film
lines with full CNC controls. Ø
KHS Machinery Private Limited, Plot No. 14/16, GIDC, Phase
I, Vatva, Ahmedabad – 382445, Gujarat, India Tel. No. 91-79-25832866 Fax No. 91-79-25832867 E-mail : khsmpl@ad1.vsnl.net.in Website : http://www.khs-ag.com -
This is a joint-venture company with KHS Maschinen
Anlagenbau AG, a unit of Kloeckner Werke AG of Germany. This company manufactures high-tech state
of art high speed Bottling line/Packaging plants comprising of Bottle
Washers/Filters Pre-mixers, Cap-Sealer, Labelling Machines etc. Ø
Kloeckner DESMA Machinery Private Limited, Plot No.
5119/5120, GIDC Vatva, Ahmedabad – 382445, Gujarat, India Tel. No. 91-79-25840200 Fax No. 91-79-25840384 E-mail : klockner@satyam.net.in Website : http://www.infoquest.india.com/klockner -
This is a joint-venture company with Klockner Desma
Elastomertechnik GmbH. The company
manufacture Rubber Injection Moulding Machines and Shoe Soling Machines with
Klockner Desma Schumachinen GmbH both of Germany Ø
Ferromatik Milacron India Limited, Plot No. 92, GIDC,
Phase I, Vatva, Ahmedabad – 382445, Gujarat, India Tel. No. 91-79-25890081 Fax No. 91-79-25830125 E-mail : cmplpltd@ad1.vsnl.net.in Website : http://www.milacronindia.com -
The company manufactures Plastic Injection Moulding in
joint-venture with Milacron Inc. USA and Blow Moulding Machines in joint-venture
with Uniloy Milacron, USA Ø
SourcePro Infotech Private Limited, Fairdeal House,
Swastik Char Rasta, Ahmedabad – 380006, Gujarat, India Tel. No. 91-79-26427880 Fax No. 91-79-26563875 E-mail : sipl@ad1.vsnl.net.in Website : http://www.sourcepro.co.in -
The company offers ERP Solutions, Software Development
Services, Off-site and On-site Software development, Networking Solutions and
Support Systems, Software Customization. Ø
Mamata Airwings Private Limited, 204, Shilip, Near
Navrangpura Tele Exchange, Navrangpura, Ahmedabad – 380006, Gujarat, India Tel. No. 91-79-26469339 Fax No. 91-79-26563058 E-mail : mamataair@sify.com -
An IATA approved travel agency for International and
Domestic air ticketing, Hotel Bookings, Package Tours, Foreign Exchange. Ø
Mamata Marketing Services, 53, Madhuban Ellisbridge,
Ahmedabad – 380006, Gujarat, India Tel. No. 91-79-26440331 Fax No. 91-79-26421324 E-mail : mamata@wilntonline.net -
An Agency of Division of Xaloy of USA, Zambello of Italy,
Euro chiller of Italy, Cinbase of Hong Kong. Ø
Win Engineering Private Limited Ø
Darling Muesco India Private Limited Ø
Saturn Travels Ø
Mukti Trust [ Family Trust] |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300,000 |
Equity Shares |
Rs.100/-
each |
Rs.
30.000 millions |
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
248,000 |
Equity Shares |
Rs.100/-
each |
Rs. 24.800 millions |
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|
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
24.800 |
24.800 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
96.165 |
69.213 |
|
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
120.965 |
94.013 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
60.927 |
60.468 |
|
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2] Unsecured Loans |
|
10.000 |
20.000 |
|
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TOTAL BORROWING |
|
70.927 |
80.468 |
|
|
DEFERRED TAX LIABILITIES |
|
3.073 |
3.061 |
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|
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TOTAL |
|
194.965 |
177.542 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
31.197 |
28.937 |
|
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Capital work-in-progress |
|
0.000 |
0.000 |
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|
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INVESTMENT |
|
44.377 |
44.788 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
119.778 |
113.162 |
|
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Sundry Debtors |
|
102.809 |
92.000 |
|
|
Cash & Bank Balances |
|
18.248 |
8.639 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
7.741 |
10.179 |
|
Total
Current Assets |
|
248.576 |
223.980 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
140.748 |
136.115 |
|
|
Provisions |
|
10.537 |
1.801 |
|
Total
Current Liabilities |
|
151.285 |
137.916 |
|
|
Net Current Assets |
|
97.291 |
86.064 |
|
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MISCELLANEOUS EXPENSES |
|
22.100 |
17.753 |
|
|
|
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|
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TOTAL |
|
194.965 |
177.542 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
1.84 |
2.32 |
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|
Current Ratio (Current Asset/Current Liability) |
|
|
1.64 |
1.62 |
LOCAL AGENCY
FURTHER INFORMATION
Subject was incorporated on 17th April, 1997 at
Ahmedabad in Gujarat having Company Registration Number 3363 under the Name and
Style of ‘Patel Machinery Private Limited’.
The name was changed to the present w.e.f. 19.09.1988.
The fixed assets of important value of the Company include
land, building, plant & machinery, electrical installation, vehicles,
furniture & fixtures, office equipment and computer.
Bankers Charges
Report as per Registry
|
Name of the company |
MAMATA MACHINERY PRIVATE LIMITED |
|
Presented By |
Mr. C. B. Patel,
Director |
|
1) Date and description of instrument creating the change |
General agreement
for grant of MTA to SSI and Hypothecation of movable, book debts and other
assets dated 27.02.2004 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 30.000
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 |
All present and
future goods, bad debts, movable and other |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Margin : 33 % Interest 13 % Repayment in EQI
of Rs. 3.350 Millions Last 4 installment of
Rs. 3.200 Millions |
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of India Industrial Estate Branch, Vatva, Ahmedabad – 382445,
Gujarat, India |
|
6) Date and brief description of instrument modifying the charge |
Supplemental
general agreement for the grant of MTA to SSI and Hypothecation of goods, book debts and other assets dated
29.06.2005 |
|
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. |
The original
charge further extended to secure additional medium term loan of Rs. 16.800
Millions making total charge of Rs. 46.800 Millions |
As Per Website
Vega Bag Makers and Pouch Makers.
With more than 2000 Machines in over 64 countries worldwide and increasing every
day, Mamata machinery is India's Largest manufacturer and exporter of SERVO
DRIVEN Plastic Bag making and Pouch Making Machines.
Their Vega Series Flat Bed Universal Machines, Wicketers and Pouch Makers are
capable of making a wide array of Side seal, Bottom seal, Mix seal plastic bags
viz. Garment bags, Shopping bags, Grocery bags, Bread bags, Diaper bags,
Garbage bags, Security bags, Zipper bags, and pouches viz. Centre Seal, Three
Side Seal and Zipper Standy pouches etc.
They are an ISO 9001 Company since 1997, and are committed to design and
deliver flexible and versatile solutions based on market and customer needs,
and at a price which is unmatched.
Creative application of technology.
That's the vision they live with and stand by.
That's the vision they apply in whatever they do.
That's the vision which has evolved them as one of the leading manufacturers of
bag making and pouch making machines.
More than 1900 Machines
Exports to over 64 countries.
Govt. recogniszed Export house
ISO 9001 Certification
5 Awards for Exports Excellence & 2 Export trophies for highest exports
National Award from Govt. of India for highest exports in difficult and New
Markets.
“Govt. of India recognized Export House Status and Plastindia Foundation Award
for Best Perfoming Enterprise for Over all performance in SSI category for
Years 2002-03, 2003-04,2004-05”
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.84.96 |
|
Euro |
1 |
Rs.57.21 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 |
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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