MIRA
INFORM REPORT
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Report Date : |
12.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
TOSHNIWAL INDUSTRIES PRIVATE LIMITED |
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Registered Office : |
198-Jamshedji Tata Road, Mumbai – 400020,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
07.07.1959 |
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Com. Reg. No.: |
11-11393 |
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CIN No.: [Company
Identification No.] |
U33120MH1959PTC011393 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMT08961B |
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PAN No.: [Permanent
Account No.] |
AAACT1582B |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Manufacturers of Temperature Sensors, Recorders and Radiation
Pyrometers Thermometer. |
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 70000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a
well-established and reputed company having satisfactory track. Directors are
reported as experienced and respectable businessmen. Trade relations are
reported as fair. Business is active. Payments are usually correct and as per
commitments. The company can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
198-Jamshedji Tata Road, Mumbai – 400020,
Maharashtra, India |
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Tel. No.: |
91-22-22821565 |
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Fax No.: |
91-22-22040396 |
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E-Mail : |
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Website : |
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Factory 1 : |
Industrial Estate, Makhupura, Ajmer –
305002, Rajasthan, India |
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Tel. No.: |
91-145 - 2695171 / 72 / 73, 2695205 |
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Fax No.: |
91-145 – 2695174 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Madan Govind Toshniwal |
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Designation : |
Managing Director |
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Address : |
Todarmal Marg, Civil Lines, Ajmer, Rajasthan, India |
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Date of Birth/Age : |
19.02.1933 |
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Date of Appointment : |
26.07.1971 |
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Elec. Comm. Identity Card No. :
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RJ/12/095/114194 |
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Name : |
Mr. Rajeev Toshniwal |
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Designation : |
Director – Technical |
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Address : |
Todarmal Marg, Civil Lines, Ajmer, Rajasthan, India |
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Date of Birth/Age : |
30.06.1959 |
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Date of Appointment : |
27.10.1991 |
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Elec. Comm. Identity Card No. :
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RJ/12/095/114259 |
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Name : |
Ms. Manju Toshniwal |
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Designation : |
Director |
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Address : |
Todarmal Marg, Civil Lines, Ajmer, Rajasthan, India |
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Date of Birth/Age : |
21.01.1934 |
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Date of Appointment : |
27.10.1991 |
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Elec. Comm. Identity Card No. :
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RJ/12/095/114195 |
MAJOR SHAREHOLDERS
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Names of Shareholders |
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No. of Shares |
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Arvind Toshniwal |
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153 |
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K. C. Toshniwal |
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85 |
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Ratan Devi Toshniwal |
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340 |
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Kamlesh Toshniwal |
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458 |
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Rajesh Tawani |
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2 |
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Manju Toshniwal |
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2938 |
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M. G. Toshniwal |
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3298 |
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Mahesh Toshniwal |
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324 |
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Rajesh Toshniwal |
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537 |
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Vandana Agarwalla |
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43 |
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Pushpalata Toshniwal |
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17 |
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Priti Toshniwal |
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681 |
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Ratan Daga |
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114 |
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Rajeev Toshniwal |
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1315 |
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Abhinav Toshniwal |
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305 |
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Avantika Toshniwal |
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9 |
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Kamlesh Toshniwal Jointly with Mahesh Toshniwal |
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956 |
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Kamlesh Toshniwal Jointly with Rajesh Toshniwal |
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956 |
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O. P. Sharda |
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1 |
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K. K. Singhal |
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1 |
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Hemlata Toshniwal |
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217 |
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Total |
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12750 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Temperature Sensors, Recorders and Radiation
Pyrometers Thermometer. |
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Products : |
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GENERAL
INFORMATION
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No. of Employees : |
About 50 |
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Bankers : |
Bank of Baroda P. R. Marg, Ajmer
– 305001, Rajasthan, India |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mittal Jain and Company Chartered Accountants |
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. 2.500 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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12750 |
Equity Shares |
Rs. 100/- each |
Rs. 1.275
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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1.275 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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16.676 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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17.951 |
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LOAN FUNDS |
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1] Secured Loans |
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1.561 |
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2] Unsecured Loans |
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13.398 |
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TOTAL BORROWING |
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14.959 |
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DEFERRED TAX LIABILITIES |
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1.471 |
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TOTAL |
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34.381 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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7.330 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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Sundry Debtors |
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Cash & Bank Balances |
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Other Current Assets |
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Loans & Advances |
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27.051 |
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Total
Current Assets |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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Provisions |
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Total
Current Liabilities |
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Net Current Assets |
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27.051 |
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MISCELLANEOUS EXPENSES |
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TOTAL |
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34.381 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2005 |
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Sales Turnover |
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94.415 |
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Other Income |
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Total Income |
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94.415 |
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Profit/(Loss) Before Tax |
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8.496 |
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Provision for Taxation |
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3.166 |
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Profit/(Loss) After Tax |
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5.330 |
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Expenditures : |
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Total Expenditure |
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85.919 |
KEY RATIOS
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PARTICULARS |
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31.03.2005 |
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PAT / Total Income |
(%) |
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5.65 |
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Net Profit Margin (PBT/Sales) |
(%) |
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9.00 |
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Return on Investment (ROI) (PBT/Networth) |
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0.47 |
LOCAL AGENCY
FURTHER INFORMATION
Business
To manufacture, produce, repair, use, buy, sell, import and export and other
wise deal in all types of Instruments such as Process Control Instruments,
Electrical and Electronic Equipments, Engineering, Measuring Instruments,
Nautical, Aeronautical and Survey Instruments, Optical and Ophthalmic
Instruments, General Laboratory, Medical and Surgical Apparatuses, Scientific
Laboratory Glassware, Photographical Chemicals and other Scientific
apparatuses, appliances, devices, contrivances, their accessories and
components.
To do the business of electric engineers, installation and mounting
engineers and contractors, suppliers of electricity, atomic power, hear and
sound, manufacturers of and dealers in electric, magnetic, galvanic and other
apparatuses and for that purpose to get or acquire any inventions and to
construct railways, tramways and work the same by steam, gas, oil, electricity
or other power.
Bankers Charges
Report as per Registry
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Name of the company |
TOSHNIWAL
INDUSTRIES PRIVATE LIMITED |
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Presented By |
Mr. M. G.
TOSHNIWAL |
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1) Date and description of instrument creating the change |
Instruments of
Hypothecation of goods dated 29.07.2000 Instrument of
Hypothecation of Machinery dated 29.07.2000 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 4.000
Millions & Rs. 8.300 Millions respectively |
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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 |
Raw materials, components,
semi finished goods, stock in process and finished goods. Plant , machinery
& Equipments, Plant and Machinery, Furniture, computer and Equipments |
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4) Gist of the terms and conditions and extent and operation of the charge. |
As primary security
for cash credit [hypothecation of goods]
of Rs. 4.000 Millions As a collateral
security for the entire credit facility of Rs. 8.300 Millions |
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5) Name and Address and description of the person entitled to the charge. |
Bank of Baroda P. R. Marg, Ajmer – 305001,
Rajasthan, India |
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6) Date and brief description of instrument modifying the charge |
Hypothecation
agreement dated 03.11.2005 for Rs. 9.900 Millions in place of the two old instruments
dated 29.07.2000 covering various assets of the company. |
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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. |
Hypothecation
agreement dated 03.11.2005 for Rs. 9.900 Millions in place of the two old
instruments dated 29.07.200 covering various assets of the company as a
security for the entire credit facilities as under :
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AS PER WEBSITE
Mr. M.G.
Toshniwal, Managing Director of TIPL has a long experience of successfully managing
this medium size engineering industry, and is supported by a team of trained
professionals. TIPL owes its technological leadership to its engineers and
business managers backed by a dedicated work force. TIPL enjoys the highest
reputation in India for product quality, business integrity and excellent after
sales service.
TIPL has
modern facilities for manufacturing including Electronic Assembly Shops,
Machine Shop, Tool Room, Sheet Metal Fabrication Shop, Welding (including TIG
argon arc welding) Shop, Paint Shop, Bakelite Moulding Shop, Electroplating and
Polishing Shop etc.
Test & Measuring Instruments &
Equipment
TIPL has
world class test & measuring instruments to ensure accuracies of manufacturing
and calibration and for quality assurance. TIPL also have Black Body Radiation
Calibration Furnaces for calibration of Infrared Radiation Thermometers &
Pyrometers. TIPL also maintains a Standard Room having instruments with
traceability of parameters like voltage, current, resistance, optical
pyrometry, temperature etc to the National Physical Laboratory, Delhi. TIPL
also provide calibration and accuracy certification as per ISO 9000
requirements.
"We,
the people at TIPL hereby commit to deliver defect free products and services
in all respects, on time, to meet or exceed the customers needs and
expectations. We will continue achieving this commitment and performing error
free work, following documented procedures, taking preventive actions and
implementing continuous improvement in all our activities."
TIPL has
a fully equipped R&D Department from the very beginning. Since 1974, our
R&D Department is recognized by the Dept. of Science & Technology, Govt.
of India as a R&D Unit for industrial developments. R&D is equipped
with a modern Library and international & Indian standards specifications.
R&D is engaged in development of new electronic instruments and process
control systems. TIPL introduced many new instruments, incorporating the latest
technologies and electronics to meet with the changing and demanding industrial
requirements.
History
Toshniwal
Industries Private Limited (TIPL) was incorporated in Mumbai (Bombay) in
India in 1959 as a private limited company. The manufacturing facility of the
company was set-up at Ajmer (Rajasthan) under the aegis of M/s Toshniwal
Brothers Private Limited (Estb. 1948) under the leadership of renowned
Scientist, (Late) Dr. G.R. Toshniwal, D.Sc.
Temperature
Detector, Thermocouples & RTD's (Mineral Insulated), Optical Pyrometer,
Digital Controllers & Indicators, Digital Controllers & Indicators,
Electronic Controller (Blind), Loop Powered Indicators, Potentiometric
Recorders, Temperature Transmitters (2 wire), Temperature Transmitters (4
wire), Electro-pneumatic Signal Converter & I/P Converters, Loop Powered
Isolators, Portable Digital Temperature Indicator, Digital Test Sets &
Calibrators, Resistance RTD Calibrator /Simulator, Thermocouple
Calibrator /Simulator, 4.20mA Loop Analyzers, Decade Resistance Box, Kelvin
Bridge, Light Spot Galvanometer, Portable Wheatstone Bridge, Potentiometer,
Rheostats, Other Products - Automatic Cold Junction Box, Selector
Switches
AGENCY
PRODUCTS
Portable
& On-line Infrared Radiation Thermometers systems for non-contact
temperature measurement
High
Temp. Video Imaging Systems with optional integrated Radiation Pyrometer for
Cement (Kiln burning zone and clinker cooler), Pulp & Paper, Power
Generation, Nuclear & Lime Industries.
Hybrid
Recorders & PID Controllers
Impactline
Solids Flowmeters for pulverized material flow measurement & Ball Mill
Grinding Optimization Systems, Instruments for measuring the secondary
characteristics of powder and bulk solids - Powder Bed Tester, Wettability
Tester, Tabletability Tester etc.
Plant
Surveillance & Process monitoring CCTV Systems.
I/P
& P/I Converters.
Ultra
Violet Flame Detectors & Scanners.
Mineral
Insulated Cables
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.44.31 |
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UK Pound |
1 |
Rs.85.47 |
|
Euro |
1 |
Rs.58.47 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
8 |
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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 |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
48 |
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 |
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