MIRA
INFORM REPORT
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Report Date : |
14.02.2007 |
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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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 : |
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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
: |
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
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Names
of Shareholders |
No. of Shares |
Percentage of Holding |
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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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Bankers : |
Bank
of Baroda, Por, District - Vadodara |
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Banking Relations : |
Satisfactory |
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Auditors : |
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
|
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 |
|
3.625 |
2.268 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
|
6.592 |
5.235 |
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LOAN FUNDS |
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1] Secured Loans |
|
6.055 |
3.456 |
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2] Unsecured Loans |
|
2.275 |
3.897 |
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TOTAL BORROWING |
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8.330 |
7.353 |
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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 |
|
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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5.700 |
4.800 |
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Sundry Debtors |
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7.952 |
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 |
0.543 |
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Total Current Assets |
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19.786 |
15.629 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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11.151 |
9.648 |
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Provisions |
|
2.989 |
1.757 |
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Total Current Liabilities |
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14.140 |
11.405 |
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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 |
KEY
RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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4.48 |
4.69 |
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Current
Ratio (Current
Asset/Current Liability) |
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1.40 |
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.44.16 |
|
UK
Pound |
1 |
Rs.86.00 |
|
Euro |
1 |
Rs.57.56 |
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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