MIRA
INFORM REPORT
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Report Date : |
14.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
MOKSHA THERMOPLASTICS PRIVATE LIMITED |
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Registered Office : |
D – 1, Soham Square, Chaitanya Nagar Society, Ahmedabad – 380014,
Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
01.06.1992 |
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Com. Reg. No.: |
04-17746 |
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CIN No.: [Company
Identification No.] |
U25209GJ1992PTC017746 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMM00435B |
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PAN No.: [Permanent
Account No.] |
AABCM0374K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
To carry on the business as Manufacturer, Processors, Dealers,
Contractors, Agents, Importers, Exporter, Supplier, Stockists, Designers for
any or all of Plastic Moulded Articles as yarn, Ropes, twines, Household
Articles, Industrial Items, Spare – Parts and all other Blown, Moulded,
Formed, Extruded Calendared and Articles
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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 60000 |
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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/Corporate Office : |
D – 1, Soham Square, Chaitanya Nagar Society, Ahmedabad – 380014,
Gujarat |
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Tel. No.: |
91-79-26464329/32920820/32920823 |
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Fax No.: |
91-79-26420789/2764308880 |
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E-Mail : |
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Website : |
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Factory 1 : |
224/3, Dantali Industrial Estate, Village Dantali, Post Vadsar -
382721 |
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Marketing & Designing |
Mr. Snehal Shah (Managing Director) |
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Production & Quality |
Mr. Rajeev Shah (Director) |
DIRECTORS
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Name : |
Mr. Shah Rajeev Dilip |
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Designation : |
Director |
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Address : |
14, Dilkhush Society, St Xaviers School Road, Ahmedabad – 380014,
Gujarat |
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Date of Birth/Age : |
03.10.1970 |
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Date of Appointment : |
01.06.1992 |
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Name : |
Ms. Shah Avani Snehal |
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Designation : |
Director |
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Address : |
14, Dilkhush Society, St Xaviers School Road, Ahmedabad – 380014,
Gujarat |
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Date of Birth/Age : |
06.01.1964 |
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Date of Appointment : |
05.02.1993 |
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Name : |
Ms. Shah Snehal Dilip |
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Designation : |
Director |
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Address : |
14, Dilkhush Society, St Xaviers School Road, Ahmedabad – 380014,
Gujarat |
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Date of Birth/Age : |
02.01.1960 |
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Date of Appointment : |
01.04.1998 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Ms. Shah Snehal Dilip |
130050 |
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Mr. Shah Rajeev Dilip |
129950 |
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Ms. Shah Avani Snehal |
77500 |
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Ms. Shah Deepa Rajeev |
77500 |
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Ms. Shah Snehal Dilip (HUF) |
2500 |
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Mr. Shah Rajeev Dilip (HUF) |
2500 |
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Mr. Dilip T Shah (HUF) |
2500 |
BUSINESS DETAILS
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Line of Business : |
To carry on the business as Manufacturer, Processors, Dealers,
Contractors, Agents, Importers, Exporter, Supplier, Stockists, Designers for
any or all of Plastic Moulded Articles as yarn, Ropes, twines, Household
Articles, Industrial Items, Spare – Parts and all other Blown, Moulded,
Formed, Extruded Calendared and Articles
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GENERAL
INFORMATION
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No. of Employees: |
About 20 |
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Bankers : |
Bank of India, Main Branch, Bhadra, Ahmedabad – 380001, Gujarat |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
N C Kanaiyalal & Company Chartered Accountant |
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Address : |
B – 604, Ganesh Plaza, Navrangpura, Ahmedabad – 380009 |
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Memberships : |
Nil |
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Collaborators : |
Nil |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500,000 |
Equity Shares |
Rs. 10/- Each |
Rs. 5.000
Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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422,500 |
Equity Shares |
Rs. 10/- Each |
Rs. 4.225
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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4.225 |
4.225 |
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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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11.130 |
9.166 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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15.355 |
13.391 |
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LOAN FUNDS |
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1] Secured Loans |
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52.825 |
39.928 |
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2] Unsecured Loans |
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20.343 |
17.382 |
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TOTAL BORROWING |
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73.168 |
57.310 |
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DEFERRED TAX LIABILITIES |
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3.762 |
4.267 |
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TOTAL |
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92.285 |
74.968 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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50.100 |
35.663 |
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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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28.529 |
25.390 |
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Sundry Debtors |
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18.011 |
18.018 |
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Cash & Bank Balances |
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1.732 |
2.489 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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5.651 |
3.360 |
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Total
Current Assets |
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53.923 |
49.257 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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8.456 |
9.715 |
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Provisions |
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3.282 |
0.237 |
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Total
Current Liabilities |
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11.738 |
9.952 |
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Net Current Assets |
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42.185 |
39.305 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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92.285 |
74.968 |
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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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5.52 |
5.02 |
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Current Ratio (Current Asset/Current Liability) |
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4.59 |
4.94 |
LOCAL AGENCY
FURTHER INFORMATION
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Name of the company |
MOKSHA THERMOPLASTICS PRIVATE LIMITED |
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1) Date and description of instrument creating the change |
Hypothecation of tangible movable assets/ goods/ property dated
29.06.2004 |
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2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 5.700 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 |
First charge on all tangible movable assets/ goods/ property/ plant
and machinery of the company including in particular all plant and machinery,
assets equipment etc lying whether looses or in case or being in or upon or
about the company factory or other premises
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4) Gist of the terms and conditions and extent and operation of the
charge. |
Firsts charge by way of the hypothecation on all the assets, any time
be in the possession or power of the company to secure the term loan of Rs.
5.700 Millions Term loan – Rate of interest will be 1.50% over ROI PTLR rate subject
to minimum of 12.75% or at such other rate or rates as may be notified by the
bank to the company Repayment – the term loan is repayable in 60 monthly of Rs. 0.095
Millions |
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5) Name and Address and description of the person entitled to the
charge. |
Bank of India, Main Branch, Bhadra, Ahmedabad – 380001, Gujarat |
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6) Date and brief description
of instrument modifying the charge |
Not Applicable |
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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. |
Not Applicable |
As per website
details
Moksha
The company is a family concern, with total commitment, driven by the
experience of over 50 years and the 2nd generation of Directors having Plastics
& Engineering background.
Moksha has the most modern Injection Moulding plant - spread over 30000 Ft.
Area, Within 20 Km from Ahmedabad is having its own in-house tool-room and
latest mould manufacturing facilities. The recent expansion of its
manufacturing facilities is just completed.
Moksha is committed to new developments and have expert designers with complex
capability assisted by Solid Modeling - Computer Aided Design (CAD) program.
Moksha has roots in the customer - the end user and the machinery constructors'
feedback and technical suggestions, and continue to work jointly through the production
start-up for field proven solutions.
Totally Computerized Manufacturing Process with Inbuilt Feedback Controls.
Latest breed of Injection moulding machines which use Variable technology -
High powered to meet the strongest demands when required by the bobbin moulded.
Auto correction to reach the target set-parameters, and gives an Alarm - with
production stoppage in case of unachieved parameters after 5 Auto trial. These
ensure consistency in its production.
Machines are equipped with High Speed Production faculties which process
articles through 10 grams to 1800 grams. Moksha is equipped with the latest Raw
material Dryer, Hopper Dryers, with Hopper Loaders hopper blender, and
conveyors, have Automatic cyclic Blenders, and Hi-tech Colour mixers. Moksha
has the latest Chilling plant - for providing Chilled water, and Cooling towers
and Hydraulic Fluid cooling units for its machines. Electrostatic Filters for
its Hydraulic fluid protection against contamination for consistency.
Winning accolades in Exports and Catering and servicing to the Growing National
and International Market of Yarn Carriers.
Their products are quality tested, approved & developed with due
consideration of Machinery Manufacturers.
Hence finest tuning of quality are assured.
Products
Simplex &
Rubbing Frame Bobbins
Preparatory, Simplex & Rubbing frame Bobbins for all
makes of Roving frames.
Precision Ring Spinning tubes for Manual & Auto Doffer
Machines Upto 25000 rpm.
Rigorous Steam-conditioning Perforated & Non-perforated Tubes, Cones & Cheeses upto 140° degree
Centigrate.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.63 |
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UK Pound |
1 |
Rs.85.58 |
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Euro |
1 |
Rs.58.08 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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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46 |
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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