MIRA INFORM REPORT
|
Report Date : |
07.03.2007 |
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 |
|
|
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 records. 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 |
|
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 |
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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 |
|
Times Transport Company India Private Limited |
|
10000 |
|
Nakora Properties Private Limited |
|
15750 |
|
Mr. C. L. Bhat |
|
7500 |
|
Virgo Services Private Limited |
|
500 |
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Mr. Naveen Sharma |
|
40000 |
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Grab Marketing Private Limited |
|
8000 |
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Gold Stone Financial Services Private Limited |
|
8000 |
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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
|
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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|
|
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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 |
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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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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
|
Total Income |
|
146.837 |
205.880 |
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Profit/(Loss) Before Tax |
|
1.927 |
5.440 |
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Provision for Taxation |
|
0.000 |
0.000 |
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Profit/(Loss) After Tax |
|
1.927 |
5.440 |
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Total Earnings |
|
9.675 |
75.771 |
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Expenditures : |
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Interest |
|
0.963 |
0.157 |
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Depreciation & Amortization |
|
2.083 |
0.953 |
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Other Expenditure |
|
141.144 |
199.330 |
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Total Expenditure |
|
144.910 |
200.440 |
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KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
6.59 |
2.64 |
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Net Profit Margin (PBT/Sales) |
(%) |
|
6.59 |
2.64 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
2.00 |
6.76 |
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Return on Investment (ROI) (PBT/Networth) |
|
|
0.08 |
0.23 |
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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 |
|
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 |
|
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 |
|
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 |
|
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. |
|
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
Subject 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.44.44 |
|
UK Pound |
1 |
Rs.85.89 |
|
Euro |
1 |
Rs.58.54 |
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 |
|