MIRA
INFORM REPORT
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Report Date : |
04.07.2007 |
IDENTIFICATION DETAILS
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Name : |
METAFAB ENGINEERS INDIA PRIVATE LIMITED |
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Registered Office : |
Plot No. 299, Sector – 24, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
27.03.2002 |
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Com. Reg. No.: |
55 – 34847 |
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CIN No.: [Company
Identification No.] |
U7410HR2002PTC034847 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RTKM02421G |
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PAN No.: [Permanent
Account No.] |
AACCG8006F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of special service tool, jigs and Fixtures, Dies and
Tools and Auto Garge Equipments |
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 53780 |
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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 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 / Factory : |
Plot No. 299, Sector – 24, |
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Tel. No.: |
91-129-4026897 / 4027897 |
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Mobile No.: |
91-129-223921 / 2234410 / 2230276 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Sunit Chopra |
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Designation : |
Director |
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Address : |
House No. 2285, Sector – 9, |
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Date of Appointment : |
05.03.2004 |
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Name : |
Mr. Chand Narayan Chopra |
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Designation : |
Director |
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Address : |
House No. 2285, Sector – 9, |
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Date of Appointment : |
22.03.2002 |
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Name : |
Mr. Amit Chopra |
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Designation : |
Director |
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Address : |
House No. 2285, Sector – 9, |
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Date of Appointment : |
05.03.2004 |
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Name : |
Mr.Veer Prakash Chopra |
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Designation : |
Direcor |
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Address : |
House No. 2285, Sector – 9, |
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Date of Appointment : |
07.03.2004 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names Of Shareholders |
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No. of Shares |
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Mr. Chand Narayan Chopra |
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13770 |
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Mr. Veer Prakash Chopra |
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1230 |
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Mr. Prem Nath Wadhwa |
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100 |
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Mr Dharma Prakash Chopra |
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100 |
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Mrs. Suman |
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100 |
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Mrs. Sunita Agarwal |
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100 |
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Mrs. Vineeta Kaur |
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100 |
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Mr. Amit Chopra |
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2000 |
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Mr. Sunit Chopra |
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2000 |
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Mrs. Neena Chopra |
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2000 |
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Mrs. Puja Chopra |
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2000 |
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Total |
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23500 |
Equity share breakup (percentage of total equity)
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S. No. |
Category |
Percentage |
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1 |
Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of special service tool, jigs and Fixtures, Dies and
Tools and Auto Garge Equipments |
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Products : |
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GENERAL INFORMATION
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Customers : |
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Bankers : |
Canara Bank, SSI Branch, |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
M/s Y. K. Joneja and Company Chartered Accountants |
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Address : |
Samadhan Chambers, B-377-78, Nehru Ground, |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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25000 |
Equity shares |
Rs. 100/- each |
Rs. 2.500million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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23500 |
Equity shares |
Rs. 100/- each |
Rs. 2.350 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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2.350 |
2.350 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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11.095 |
0.858 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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13.445 |
3.208 |
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LOAN FUNDS |
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1] Secured Loans |
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1.228 |
4.157 |
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2] Unsecured Loans |
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0.964 |
1.236 |
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TOTAL BORROWING |
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2.192 |
5.393 |
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DEFERRED TAX LIABILITIES |
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0.020 |
0.104 |
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TOTAL |
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15.657 |
8.705 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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8.000 |
7.222 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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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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1.908 |
1.422 |
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Sundry Debtors |
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17.950 |
12.550 |
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Cash & Bank Balances |
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1.069 |
0.042 |
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Other Current Assets |
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0.015 |
0.030 |
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Loans & Advances |
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0.466 |
0.234 |
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Total
Current Assets |
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21.408
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14.278 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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13.751 |
12.795 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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13.751
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12.795 |
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Net Current Assets |
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7.657
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1.483 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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15.657 |
8.705 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover (Estimated) |
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50.000 |
10.000 |
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Total Income |
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50.000 |
10.000 |
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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1.18
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5.66 |
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Current Ratio (Current Asset/Current Liability) |
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1.55
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1.11 |
LOCAL AGENCY FURTHER INFORMATION
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Name of the company |
M/s Metafab Engineers India Private Limited |
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Presented By |
M/s Metafab Engineers India Private Limited |
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1) Date and description of instrument creating the change |
Guarantee agreement dated 28.02.2005 letter evidencing deosit of title deeds dated 28.02.2005 alongwith sxhedule ‘A’ and ‘B’ |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 3.000 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 |
Immovable properties of the company situated as plot no
299 sector 24, |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The company stands as one of the guarantors lot securing
various limits granted to M/s Meta Max amounting to Rs. 1.500 millions and
M/s Metannee Engineers, and Traders amounting to Rs. 1.500 millions by Canara
Bank, SS Branch, |
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5) Name and Address and description of the person entitled to the charge. |
Canara
Bank, SSI Branch, |
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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 |
COMPANY PROFILE
Founded February 1986 Subject with a handful of engineers
from
Many years of research and development have resulted in a family of interrelated control equipment which can meet all the needs of a complex automobile repair facility, from ergonomically designed working benches to sophisticated engine working tables with jigs and fixtures.
Their engineers pay attention to the smallest details at every stage of the production process, whether it is pneumatic controls, Working bench ergonomics or the way that wires are run in the control cabinet. They discuss the whole pictures with the customer and advise on the best way to combine equipment, sequence it and optimize it to obtain the highest possible performance.
They also continually strive to build quality, long-term relationship with their customers. Ultimately, assisting entrepreneurs and enterprises become more successful through better garage management is their top priority.
DEALER NETWORK
- For Maharashtra I & Goa
- For
Chattisgarh
- For Tamilnadu
- For Karnataka
- For Kerela
- For Madhya Pradesh
- For Hyderabad
- For Gujrat
- For U.P.
- For Rajasthan
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.49 |
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1 |
Rs.81.77 |
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Euro |
1 |
Rs.55.18 |
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 |
NO |
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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 |
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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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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