MIRA
INFORM REPORT
|
Report Date : |
31.01.2007 |
IDENTIFICATION
DETAILS
|
Name : |
MAS
EQUIPMENTS PRIVATE LIMITED |
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Registered Office : |
136, Avtar Enclave,
Paschim Vihar, Rohtak Road, New Delhi 110 063 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
06.01.1989 |
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Com. Reg. No.: |
55-34570 |
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CIN No.: [Company
Identification No.] |
U74899DL1989PTC034570 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELM03175E |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Manufactures, Exporters and Suppliers of
High Quality Rolling Machines and Allied Machines |
RATING & COMMENTS
|
MIRAs 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
100000 |
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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 : |
136, Avtar Enclave,
Paschim Vihar, Rohtak Road, New Delhi 110 063 |
|
Tel. No.: |
91-11-25254511/25272058/25269249/25269260 |
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Mobile No.: |
91-9811060043/ 9811212197 |
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Fax No.: |
91-11-25254512 |
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E-Mail : |
copindia@hotmail.com |
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Website : |
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Factory : |
45th
KM Stone, Delhi Rohtak Road, V. & P. O. Rohad, Bahadurgarh 124501,
District Jhajjar, Haryana |
DIRECTORS
|
Name : |
Mr. S. K. Goswami |
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Designation : |
Director
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Address : |
C 8,
Sharda Puri, Ramesh Nagar, New Delhi 110015, India |
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Date of Birth/Age : |
24.01.1947 |
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Date of Appointment : |
06.01.1989 |
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Name : |
Mr.
Rajendra Sharma |
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Designation : |
Director
|
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Address : |
C
52, Gangotri Enclave, Alaknanda, New Delhi 110019, India |
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Date of Birth/Age : |
27.04.1944 |
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Date of Appointment : |
06.01.1989 |
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Name : |
Mr. Gaurav Goswami |
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Designation : |
Director
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Address : |
C 8,
Sharda Puri, Ramesh Nagar, New Delhi 110015, India |
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Date of Birth/Age : |
15.10.1975 |
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Date of Appointment : |
01.11.1993 |
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Name : |
Mr. Sachin Sharma |
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Designation : |
Director |
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Address : |
C
52, Gangotri Enclave, Alaknanda, New Delhi 110019, India |
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Date of Birth/Age : |
05.10.1975 |
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Date of Appointment : |
01.11.1993 |
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Name : |
Mr. Chaman Lal Bhatt |
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Designation : |
Director |
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Address : |
A
137, DDa Shades, Okhala Industrial Area, Phase II, New Delhi - 110020 |
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Date of Birth/Age : |
27.02.1939 |
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Date of Appointment : |
01.04.1992 |
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Name
: |
Mr. Krishan Kishore Khanna |
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Designation
: |
Director |
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Address
: |
A
2/17, 1st Floor, Paschim Viharm, New Delhi 110063 |
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Date
of Birth/Age : |
19.01.1952 |
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Date
of Appointment : |
05.08.1999 |
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Name
: |
Mr. Madapoosi V. Nagarajan |
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Designation
: |
Director
|
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Address
: |
B
-3/348, 1st Floor, Paschim Viharm, New Delhi 110063 |
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Date
of Birth/Age : |
31.08.1948 |
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Date
of Appointment : |
05.08.1999 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
|
No. of Shares |
|
Mr. S.
K. Goswami |
|
47850 |
|
Mr.
Rajinder Sharma |
|
42750 |
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Mr.
Baljit Singh Vadi |
|
2500 |
|
Ms.
Deepika |
|
2500 |
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Mr. S.
Malkiat Singh |
|
2500 |
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Mr. S.
Gurdip Singh |
|
2500 |
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Mr. P.
N. Sharma |
|
3000 |
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Mr. G.
L. Dutta |
|
2000 |
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Mr. S.
Mehta |
|
6000 |
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Mr.
Sachin Sharma |
|
23500 |
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Mr.
Gaurav Goswami |
|
20000 |
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Smt.
Shyama Goswami |
|
40000 |
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Mr. K.
K. Khanna |
|
35000 |
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Smt.
Amita Khanna |
|
20000 |
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Mr.
Kunal Khanna |
|
10000 |
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Mr. M.
V. Nagarajan |
|
65000 |
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Mr.
Sanjeev Goswami |
|
1300 |
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Mr. R.
N. Sharma |
|
5000 |
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Mr.
Inder Balram |
|
1700 |
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Smt.
Maya Balram |
|
2600 |
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Times
Transport Company India Private Limited |
|
10000 |
|
Nakora
Properties Private Limited |
|
15750 |
|
Mr. C.
L. Bhat |
|
7500 |
|
Virgo
Services Private Limited |
|
500 |
|
Mr.
Naveen Sharma |
|
40000 |
|
Grab
Marketing Private Limited |
|
8000 |
|
Gold
Stone Financial Services Private Limited |
|
8000 |
|
Aviskar
Marketing Private Limited |
|
8000 |
|
Upercon
Marketing Private Limited |
|
8000 |
|
TOTAL |
|
441450 |
BUSINESS DETAILS
|
Line of Business : |
Manufactures, Exporters and Suppliers of
High Quality Rolling Machines and Allied Machines |
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Exports to : |
Bangladesh [Rolling Machines and Allied
Products] |
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Imports from : |
European Countries [Raw Materials] |
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Terms : |
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Purchasing : |
Credit |
GENERAL
INFORMATION
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No. of Employees : |
35 |
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Bankers : |
UTI Bank Limited J-3, Vikas Puri, New Delhi 110 018 ABN Amro Bank American Express Bank Limited |
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Banking Relations : |
Satisfactory
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Auditors : |
Tapuriah Jain & Associates [Mr. Anil Kumar Jain] Chartered Accountants, 21, Skipper House, 9 Pusa Road, New Delhi 110 005 |
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Associates : |
· Jyoti Engineers Private Limited · Jyoti Industries · N. K. Consultants |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
500000 |
Equity
Shares |
Rs. 10/- each |
Rs. 5.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
441500 |
Equity
Shares |
Rs. 10/- each |
Rs. 4.415 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 |
|
4.415 |
4.415 |
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2] Share Application Money |
|
0.531 |
0.230 |
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3] Reserves & Surplus |
|
20.133 |
19.059 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
25.079 |
23.704 |
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LOAN FUNDS |
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|
1] Secured Loans |
|
16.073 |
9.294 |
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2] Unsecured Loans |
|
0.000 |
0.000 |
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TOTAL BORROWING |
|
16.073 |
9.294 |
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DEFERRED TAX LIABILITIES |
|
0.245 |
0.246 |
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TOTAL |
|
41.397 |
33.244 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
11.224 |
8.353 |
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Capital work-in-progress |
|
10.394 |
4.837 |
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INVESTMENT |
|
1.075 |
1.075 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
|
41.460 |
24.555 |
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Sundry Debtors |
|
21.057 |
37.321 |
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Cash & Bank Balances |
|
12.488 |
1.388 |
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Other Current Assets |
|
2.574 |
3.053 |
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Loans & Advances |
|
7.562 |
5.828 |
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Total Current Assets |
|
85.141 |
72.145 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
|
66.406 |
53.146 |
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|
Provisions |
|
0.031 |
0.020 |
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Total Current Liabilities |
|
66.437 |
53.166 |
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Net Current Assets |
|
18.704 |
18.979 |
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
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TOTAL |
|
41.397 |
33.244 |
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KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
|
3.29 |
2.63 |
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Current
Ratio (Current
Asset/Current Liability) |
|
|
1.28 |
1.35 |
LOCAL AGENCY
FURTHER INFORMATION
|
Name of the company |
MAS EQUIPMENTS PRIVATE LIMITED |
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Presented By |
Mr. S. K. Goswami |
|
1) Date and description of instrument creating the change |
Loan agreement with UTI Bank Limited, Vikas Puri, New Delhi dated 01.08.2003 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Cash Credit Rs. 1.000 million Bank Guarantee : Rs. 4.000 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 |
Machinery and other movable fixed assets, Book Debts, Current Assets of the company |
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4) Gist of the terms and conditions and extent and operation of the charge. |
As per loan agreement dated 01.08.2003 Cash Credit Limit Rs. 1 million @ 12.5%, Bank Guarantee Rs. 4 Millions against hypothecation of movable and immovable assets of the company |
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5) Name and Address and description of the person entitled to the charge. |
UTI Bank Limited, J 3, Vikas Puri, New Delhi 110018 |
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6) Date and brief description of instrument modifying the charge |
N.A. |
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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. |
N.A. |
WEBSITE
DETAILS
MAS Equipments Private Limited is a part of Delhi based leading engineering conglomerate comprising of three units namely Jyoti Engineers Private Limited, Jyoti Industries and N. K. Consultants. The concern manufactures, exports and supplies high-quality Rolling machines and Allied machines on turnkey basis from India.
Besides engineering goods the company specializes in manufacturing the
equipment for Cold Rolling Mill/Processing Lines, Design and Consultancy
on turnkey basis. Being recognised as one of the key
players in this segment, the company today has spread its wings in the domestic
and quality conscious overseas circuit.
It has three different production units working under full capacity equipped
with modern production facilities like fabrication and a modern machine shop.
To maintain its competitive edge in the world markets the company strictly
follows the rules of total quality management, whether it be the selection of
finest raw materials, or the finished products. In 2001-02 the group turnover
crossed over Rs 100 million, a testimony of its highly admired product quality.
MAS Equipments is
headed by Mr K. K. Khanna, a technocrat with vast experience in the engineering
industry. His dynamic business approach and far sighted vision has
significantly helped the company to be a preferred choice of industrial
customers, around the world.
"At MAS
Equipments, quality system procedure applies to all products received and
produced by the company. It includes inspection and testing at the receiving
stage, in the process and final inspection", Mr Khanna asserts. The
company invites trade enquiries from avid buyers looking for competitively
priced equipment for rolling machines with least delivery time.
Company
Profile
|
Business Type |
Exporter, Manufacturer |
|
Capital in Dollars |
INR 100 Million |
|
Export Percentage |
20% |
|
Primary Competitive Advantages |
They have three manufacturing units located at prime location in Delhi
with full fledged fabrication facilities and a modern machine shop. |
|
Year of Establishment |
1982 |
|
Export Markets |
Bangladesh |
|
Production Type |
Rolling Machines |
|
No of Engineers |
7 |
|
Product Range |
Rolling Machines and Allied Machineries on turn key basis. |
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 Intl 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
companys 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.44.27 |
|
UK
Pound |
1 |
Rs.86.71 |
|
Euro |
1 |
Rs.57.13 |
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 SCs 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 |
|