MIRA
INFORM REPORT
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Report Date : |
27.01.2007 |
IDENTIFICATION DETAILS
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Name : |
CADMACH MACHINERY
COMPANY PRIVATE LIMITED |
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Registered Office : |
16, Azad Society,
Ambawadi, Ahmedabad – 380015, Gujarat |
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Country
: |
India |
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Financials
(as on) : |
31.03.2006 |
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Date of Incorporation : |
06.09.1973 |
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Com. Reg. No.: |
04-2373 |
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CIN
No.: [Company
Identification No.] |
U68186GJ1973PTC002373 |
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TAN
No.: [Tax
Deduction & Collection Account No.] |
AHMC01308G |
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PAN
No.: [Permanent
Account No.] |
AAACC6242R |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturer,
Seller and Exporter of Pharmaceutical and Machines and their spare parts. |
RATING
& COMMENTS
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MIRA’s Rating : |
Ba |
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 300000 |
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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 is a well established company
having satisfactory track records. General financials are reported as good.
Payments are correct and as per commitments. The company can be considered good
for normal business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
16, Azad Society,
Ambawadi, Ahmedabad – 380015, Gujarat, India |
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Tel. No.: |
91-79-25834191 |
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Fax No.: |
91-79-25842602 |
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E-Mail : |
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Website: |
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Head Office : |
Plot No. 3604/3605
GIDC Industrial Estate, Phase IV, Vatva, Ahmedabad – 382445 |
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Tel. No.: |
91-79-2583149/92
& 93, 91-79-25891817/73/25894045 |
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Fax No.: |
91-79-25832602 |
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Area
: |
19,600 sq.mtrs. |
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Corporate Office : |
101, B- Poonam
Chambers, 1st Floor, Shivsagar Estate, Dr. Annie Baseant Road,
Worli, Mumbai – 400018. |
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Tel.
No.: |
91-22-24948811/24923331/24948753/24936612 |
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Fax
No.: |
91-22-24938042 |
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Cable |
“CADMACH” |
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Factory 1 : |
Survey No.417/P, at
Village Vinzol, Taluka Daskroi, District Ahmebabad – 382445 |
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Area
: |
50,000 sq.fts. |
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Delhi Office: |
7-K, Gopala Tower,7th Floor, 25 Rajendra
Place,New Delhi - 110 008 |
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Tel.
No. : |
91-11-25733329 |
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Fax
No. |
91-11-25742842 |
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Kolkata Office : |
C/o.Business
Communication Centre, 21, Parsee Church Street., Kolkata – 700001 |
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Fax
No.: |
91-33-22350630 |
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Hyderabad Office : |
202, Shamshiri
Estates, 11-5-423 Redhills,Lakdi-Ka-Pool, Hyderabad - 500 004 |
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Tel.
No.: |
91-40-26666301 |
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Fax
No. |
91-40-23372027 |
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Chennai 1 : |
"Shoba"
Flat No:D-2, Third Floor, No:12, 10th Avenue, Ashoknagar, Chennai - 600 083 |
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Tel.
No.: |
91-44-24899710. |
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Fax
No. |
91-44-24897804 |
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Bangalore Office : |
N. J. Chamber, Third
Floor, 22/2, Venkatswamy Naidu Road,Opp. Hotel Harsh, Taskar Town,
Bangalore-560051 |
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91-80 – 22861615 |
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91-80- 22927410 |
DIRECTORS
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Name : |
Mr. Khambatta
Jayant Veljibhai |
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Designation : |
Chairman cum
Managing Director |
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Address : |
44, Jawahar Nagar,
Sarkhej Road, Ahmedabad – 380007, Gujarat, India |
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Date of Birth/Age : |
07.03.1930 |
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Date of Appointment : |
01.07.1974 |
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Name : |
Mr. Patel
Pankajbhai Rambhai |
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Designation : |
Managing Director |
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Address : |
16, Aza Society,
Ambawadi, Ahmedabad – 380015, Gujarat, India |
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Date of Birth/Age : |
16.03.1953 |
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Date of Appointment : |
16.02.1990 |
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Name : |
Mr. Jayantbhai
Khambatta Vinit |
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Designation : |
Whole Time Director |
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Address : |
44, Jawahar Nagar,
Sarkhej Road, Ahmedabad – 380007, Gujarat, India |
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Date of Birth/Age : |
05.08.1961 |
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Date of Appointment : |
16.02.1990 |
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Name : |
Mr. Patel Sharvil
Pankajbhai |
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Designation : |
Director |
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Address : |
16, Aza Society,
Ambawadi, Ahmedabad – 380015, Gujarat, India |
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Date of Birth/Age : |
13.10.1978 |
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Date of Appointment : |
22.09.2001 |
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Name : |
Mr. Mukesh Patel |
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Designation : |
Director |
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Address : |
293, Lane No 16,
Sector No. 1, Satyagrah Chhavni, Near Bhavnirzar, Jodhpur, tekra, Ahmedabad –
380051, Gujarat, India |
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Date of Appointment : |
28.09.2006 |
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Other directorship: |
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Name : |
Mr. Ketan
Khambhatta |
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Designation : |
Director |
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Address : |
44, Jawaharnagar
Society, Sarkhej Road, Ahmedabad – 380007, Gujarat, India |
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Date of Appointment : |
28.09.2006 |
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Other directorship: |
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KEY
EXECUTIVES
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Name : |
Archana Tatu and
Associates |
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Designation : |
Company Secretary |
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Address : |
205/206, Safari
Complex, Paldi, Ahmedabad – 380009. |
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Tel.: |
91-79-26580949/26568394 |
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Residence : |
91-79-26760818 |
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Email: |
MAJOR
SHAREHOLDERS
|
Names of Shareholders |
No.
of Shares |
Percentage
of Holding |
|
Mr. Modi Indravadan Ambalal |
2322 |
10.45 |
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Mr. Khambhatta Jayantilal Veljibhai |
2940 |
13.24 |
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Rashil Investment Private Limited |
36 |
0.16 |
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Pripan Investment Private Limited |
36 |
0.16 |
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Mr. Modi Indravadan Ambalal |
6 |
0.02 |
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Mr. Patel Taraben Ramanbhai |
306 |
1.37 |
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Mr. Modi Indravadan Ambalal |
426 |
1.91 |
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Mr. Modi Rajiv Indravadan |
426 |
1.91 |
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Patel Pankajbhai Ramanbhai |
51 |
0.22 |
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Patel Pankajbhai Ramanbhai |
50 |
0.22 |
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Mr. Patel Sharvil Pankajbhai |
100 |
0.45 |
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Mrs. Patel Pritiben Pankajbhai |
100 |
0.45 |
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Mr. Modi Rajiv Indravadan |
1800 |
8.10 |
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Mr. Modi Indravadan Ambalal |
600 |
2.70 |
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Mr. Modi Indravadan Ambalal |
600 |
2.70 |
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Mr. Modi Indravadan Ambalal |
420 |
1.89 |
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Mr. Modi Indravadan Ambalal |
420 |
1.89 |
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Mrs. Khambhatta Sardaben Jayantilal |
1854 |
8.35 |
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Mr. Khambhatta Vinit Jayantilal |
900 |
4.05 |
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Mr. Khambhatta Ketan Jayantilal |
1854 |
8.35 |
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Mr. Modi Indravadan Ambalal |
15 |
0.06 |
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Mr. Modi Indravadan Ambalal |
255 |
1.14 |
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Mr. Patel Pankajbhai Ramanbhai |
6 |
0.02 |
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Mr. Patel Pankajbhai Ramanbhai |
50 |
0.22 |
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Mr. Patel Pankajbhai Ramanbhai |
306 |
1.37 |
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Mrs. Patel Taraben Ramanbhai |
300 |
1.35 |
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Mrs. Patel Niranjanaben Kanubhai |
300 |
1.35 |
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Mr. Patel Pankajbhai Ramanbhai |
50 |
0.22 |
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Mrs. Patel Taraben Ramanbhai |
50 |
0.22 |
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Mr. Patel Pankajbhai Rambhai |
2304 |
10.37 |
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Mr. Patel Pankajbhai Rambhai |
3317 |
14.94 |
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Total |
22200 |
100.00 |
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Category of Shareholders |
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Percentage
of Holding |
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Directors or Relatives of
Director |
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65.49 |
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Other top 50 Share Holder |
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34.19 |
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Total |
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100.00 |
BUSINESS
DETAILS
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Line of Business : |
Manufacturer,
Seller and Exporter of Pharmaceutical and Machines and their spare parts. |
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Exports to : |
USA, UK,
Bangaldesh, Sri Lanka, Indonesia, Kenya, etc. |
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Imports from : |
Europe |
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Terms : |
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Purchasing
: |
L/C (90 days) |
PRODUCTION
STATUS
|
Particulars |
Unit |
Installed
Capacity [millions] |
Actual
Production |
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Pharmaceutical Machinery |
Nos. |
300 |
379 |
|
Punches and Dies |
Sets. |
“ |
7,568 |
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Punches & Dies |
Nos. |
“ |
2,842 |
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Other Spare Parts |
Nos. |
“ |
34,227 |
GENERAL
INFORMATION
|
No. of Employees : |
460 |
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Bankers : |
Bank of Baroda Ashram Road,
Ahmedabad – 380009. |
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Facilities
: |
Credit Facility:
Rs. 38.500 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
Mukesh M. Shah and
Company Chartered
Accountants |
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Address : |
2nd
Floor, H. K. House, Ashram Road, Ahmedabad – 380009 |
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Tel. No.: |
91-79-26580949/26568394 |
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Associates/Subsidiaries : |
CADILA Group of
Companies |
CAPITAL
STRUCTURE
Authorised Capital
:
|
No. of Shares |
Type |
Value |
Amount |
|
25,000 |
Equity Shares |
Rs
100/- each |
Rs. 2.500 millions |
|
15,000 |
Preference Shares |
Rs
100/- each |
Rs.
1.500 millions |
|
10,000 |
Unclassified |
Rs
100/- each |
Rs.
1.000 millions |
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Total |
|
Rs. 5.000 millions |
Issued, Subscribed & Paid-up
Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
22200 |
Equity Shares |
100/- |
Rs.
2.200 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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|
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1] Share Capital |
|
2.220 |
2.220 |
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2] Share
Application Money |
|
0.000 |
0.000 |
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3]
Reserves & Surplus |
|
76.591 |
65.981 |
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4]
(Accumulated Losses) |
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---- |
---- |
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NETWORTH
|
|
78.811 |
68.201 |
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LOAN FUNDS |
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1] Secured Loans |
|
8.393 |
8.752 |
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2] Unsecured Loans |
|
0.000 |
0.000 |
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TOTAL BORROWING
|
|
8.393 |
8.752 |
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DEFERRED TAX LIABILITIES |
|
4.479 |
5.336 |
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TOTAL
|
|
91.683 |
82.289 |
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APPLICATION OF
FUNDS
|
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FIXED ASSETS [Net
Block]
|
|
46.245 |
44.266 |
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Capital
work-in-progress
|
|
0.000 |
0.000 |
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INVESTMENT
|
|
0.001 |
0.001 |
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DEFERREX TAX
ASSETS
|
|
0.000 |
0.000 |
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CURRENT ASSETS,
LOANS & ADVANCES
|
|
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Inventories
|
|
39.123 |
35.553 |
|
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Sundry Debtors
|
|
99.982 |
83.203 |
|
|
Cash & Bank
Balances
|
|
0.347 |
1.942 |
|
|
Other Current
Assets
|
|
0.000 |
0.000 |
|
|
Loans &
Advances
|
|
15.388 |
13.323 |
Total
Current Assets
|
|
154.840 |
134.021 |
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Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current
Liabilities
|
|
95.354 |
83.603 |
|
|
Provisions
|
|
14.049 |
12.396 |
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Total Current Liabilities |
|
109.403 |
95.999 |
|
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Net Current Assets |
|
45.437 |
38.022 |
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MISCELLANEOUS
EXPENSES
|
|
0.000 |
0.000 |
|
|
|
|
|
|
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TOTAL
|
|
91.683 |
82.289 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
Sales Turnover [including other
income] |
|
384.473 |
319.371 |
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
19.078 |
15.533 |
|
Provision for Taxation |
|
0.000 |
0.000 |
|
Profit/(Loss) After Tax |
|
19.078 |
15.533 |
|
|
|
|
|
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Total Expenditure |
|
365.395 |
303.838 |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
4.96 |
4.86 |
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
|
4.96 |
4.86 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
9.48 |
8.71 |
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Return on Investment (ROI) (PBT/Networth) |
|
|
0.24 |
0.22 |
|
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|
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|
Debt Equity Ratio
(Total
Liability/Networth) |
|
|
1.49 |
1.53 |
|
|
|
|
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Current Ratio
(Current
Asset/Current Liability) |
|
|
1.45 |
1.39 |
LOCAL
AGENCY FURTHER INFORMATION
Website Details
Attached:
CADMACH®-
Globally trusted name and serving Pharmaceutical Industries in India and
Worldwide since its inception way back in 1967.
CADMACH® existence to the
need for sophisticated Pharmaceutical Machinery.
Intensive study, Research, Man-hours
invested to execute state of the art manufacturing practices to earmark current
standards and regulations.
CADMACH® today has developed
appropriate capabilities to compete in the national and international market.
This includes a strong and effective domestic presence, in built manufacturing
capabilities, constant endeavour to introduce new products, wide spreaded
network, backward integration for improving in-house capabilities, product
packaging and above all strength to satisfy global customer.
CADMACH® with its strength and profound experience of more that three
decades is ready to plunge into new avenues to cater the need of Pharmaceutical
Industry.
CADMACH® Duly
awarded twice by Government of India for import substitution. Also recongnised
and acknowledged for their association with UN, UNIDO, WHO for implementing
health care projects worldwide.
Products
Single Stroke Tabletting Machine SSF3
|
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Model |
SSF3 |
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Version |
Standard |
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Max. diameter |
19mm |
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Max. depth of fill |
17.5 mm |
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Max. output/min. |
85 |
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Max. operating pressure |
4 tons |
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Description :
- The machine is designed and engineered for small scale
production and long life.
- Useful for research, quality control and small batch
production.
- Fine adjustment of pressure and tablet weight can be made
easily, even while the machine is in operation.
- Automatic and adjustable pressure overload release device
Single Stroke Tabletting Machine CMS-15 CMS-25
|
Model |
CMS-15 |
CMS-25 |
|
Version |
Standard |
Standard |
|
Max. diameter |
18mm |
18mm |
|
Max. depth of fill |
15 mm |
25 mm |
|
Max. output/min. |
60 |
60 |
|
Max. operating pressure |
5 tons |
5 tons |
Description :
- Useful for research and small batch production.
- Capable to press
tablets up to 18 mm diameter.
- Endures 5 Tons of
maximum operating pressure.
- Output of 2700-3600 tablets/hour.
- Smooth and easy in
operation
Single Stroke Tabletting
Machine K-35
|
Model |
|
K-35 |
|
Version |
|
Standard |
|
Max. diameter |
|
57-15 mm |
|
Max. depth of fill |
|
57.15 mm |
|
Max. output/min. |
|
288 |
|
Max. operating pressure |
|
35 tons |
Description :
- Large Table size
production
- Higher operating
pressure upto 35 tons
- 17,000 Tablets per hour
- User friendly operation
R &
D:
Research &
Development is the prime most important task for CADMACH® for
strengthening their existing product range as well new Product and Design by
keeping an eye customers requirement.
About two million man-hours
invested in last one decade to ensure all the customers worldwide that constant
efforts imposed on for product enhancement & new product development
R & D activity at CADMACH®
spreads in multifold with following criteria :
- Qualified manpower
& effective CADCAM paramateric pro-engineering system for design to
execution.
- Enhanced Engineering
capabilities of critical components
- Research and various
studies conducted to analyse optimum usage of Hydraulic, Electronic &
Mechanical Components.
- Qualified Industrial as
well Computer Engineers to ensure cohesive structure for user friendly
computer access control system.
CADMACH®
proudly presents today integrated SCADA System for close loop control on entire
tablet press for full cycle operation.
Technology
The evolution of Tablet Press was necessity of Human Care.
Tablet Press Technology passed through various stages from manual operation to
single stroke to rotary type machine.
CADMACH® Walked Through all stages and today
able to cater the need for small, medium and large batch production unit.
Resources and strength within cadmach today able to fulfill
all the demand of various customers across the globe.
CADMACH® offers :
- Various range of single
stroke press for small size batch to R & D requirement
- Rotary type machines
comply with GMP regulations
- Uses various control
access system for consistent, reliable & High Speed operation of
machine
- Multipoint Hydro
Electro Mechanical Design for optimization of each level and stage of
operation of machine.
- Also offering now GMP
compliant allied and Injectable range of machine for providing one stop
solution to Pharmaceutical Industries
- CADMACH® has
today develop their own know how to provide complete close loop control
operation of each stage which comply with GMP regulation-The need of the
pharmaceutical Industry.
The factory has
the following department working round the clock to produce machinery of
International Standard
- Machine Shop
- Grinding, Fabrication
& Buffing Section
- Assembly Shop
- Dies and Punches
Section
- Tool Room
- Paint Section
- Research and
Development Section
- Quality Control
Secition
The equipment
used for manufacturing the machines are
- CNC Turning Centers
- Horizontal Boring
Machine
- Hobbing Machine
Cylindrical Grinding
Machine
|
Name
of the company |
CADMACH MACHINERY COMPANY PRIVATE LIMITED |
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|
Presented By |
MR. VINIT J. KHAMBHATTA, DIRECTOR |
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|
1) Date
and description of instrument creating the change |
Memorandum
of entry i.e. equitable mortgage by deposit of title deeds dated 6.03.2004
(copy enclosed) |
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|
2) Amount
secured by the charge/amount owing on the securities of charge |
Rs 19.000
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 |
Equitable
mortgage by way of deposit of title deeds on all that plot no. 3604 and 3605,
having total land admeasuring 19600 Sq. meters together with construction
standing thereon in phase IV of Gujarat Industrial Development Corporation,
situated on the land bearing survey n. 417/p, situated lying and being at Village Vinzol, Taluka
Dascroi in the Registration Ditrict Ahmedabad and sub-district Ahmedabad – 5
(Narol) together with all buildings and structures now standing thereon or to
be erected heerafter and the plant and machinery attached to the earth or
permanently fastened to anything attached to the earth both present and
future. |
|||||||||||||||
|
4) Gist
of the terms and conditions and extent and operation of the charge. |
The
company created equitable mortgage on properties more particularly described
in second schedule to the above referred memorandum ef entry for securing the
various working capital credit facilities as described hereunder.
Together
with interest, additional interest, further interest by way of liquidated
damages, interest tax, commitment charges, premia on prepayment or on
redemption, guarantee commission, cost, charges and expenses and other moneys
payable under Loan agreement / Letters of sanction / Memorandum of sanction /
Memorandum of terms and conditions, amended from time to time. |
|||||||||||||||
|
5) Name
and Address and description of the person entitled to the charge. |
Bank of
Baroda, Ashram
Road Branch, Ahmedabad - 380009 |
|||||||||||||||
|
6)
Date and brief description of
instrument modifying the charge |
N.A. |
|||||||||||||||
|
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. |
N.A. |
|
Name
of the company |
CADMACH MACHINERY COMPANY PRIVATE LIMITED |
|||||||||||||||
|
Presented By |
MR. VINIT J. KHAMBHATTA, DIRECTOR |
|||||||||||||||
|
1) Date
and description of instrument creating the change |
Deed of
hypothecation of machinery dated 31.03.1994 |
|||||||||||||||
|
2) Amount
secured by the charge/amount owing on the securities of charge |
Rs 38.500
Millions |
|||||||||||||||
|
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 |
Hypothecation
and charges to the bank all moveable machinery of the company including all
stocks and spare parts both present and suture as collateral security to secure
the various credit facilities aggregating to Rs 38.500 Millions sanctioned to
the company. |
|||||||||||||||
|
4) Gist
of the terms and conditions and extent and operation of the charge. |
Security
: As mentioned in Column No 3 |
|||||||||||||||
|
5) Name
and Address and description of the person entitled to the charge. |
Bank of
Baroda, Ashram
Road Branch, Ahmedabad - 380009 |
|||||||||||||||
|
6)
Date and brief description of
instrument modifying the charge |
Deed of
confirmation dated 01.10.2004 (certified true copy of deed of confirmation
enclosed herewith.) |
|||||||||||||||
|
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. |
That the
aggregate advance / credit facilities has been renewed / revised / reduced to
the extent of rs 19.000 Millions as per the following details.
Save and
expect above all other terms and conditions of principal deed of
hypothecation and supplemental deed of hypothecation remains unaltered. |
|
Name
of the company |
CADMACH MACHINERY COMPANY PRIVATE LIMITED |
|
Presented By |
MR. I A MODI, DIRECTOR |
|
1) Date
and description of instrument creating the change |
Deed of
hypothecation of book-debts dated 17.12.1988 |
|
2) Amount
secured by the charge/amount owing on the securities of charge |
Rs 27.416
Millions |
|
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 |
Hypothecation
of book-debts as collateral security to secure various limits granted to the
company. |
|
4) Gist
of the terms and conditions and extent and operation of the charge. |
Security:
as mentioned in the column 3. |
|
5) Name
and Address and description of the person entitled to the charge. |
Bank of
Baroda Ashram
Road, Ahmedabad – 380009 |
|
6)
Date and brief description of
instrument modifying the charge |
Supplemental
instrument of hypothecation of book-debts dated 31.03.1994 (a certified true
copy of which is enclosed) |
|
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. |
By
executing the document referred in column No. 6 of the hypothecation charge
on book-debts extended to cover various limits to the extent of Rs 38.500
Millions as shown in the schedule attached herewith. Thus the hypothecation
charge on book debts stands increased from Rs 33.500 Millions to Rs 38.500
Millions |
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.44.24 |
|
UK Pound |
1 |
Rs.86.95 |
|
Euro |
1 |
Rs.57.33 |
SCORE
& RATING EXPLANATIONS
|
SCORE
FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP
CAPITAL |
1~10 |
6 |
|
OPERATING
SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT
LINES |
1~10 |
5 |
|
--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 |
|
49 |
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 |
|