MIRA INFORM
REPORT
|
Report
Date : |
30.05.2007 |
IDENTIFICATION DETAILS
|
Name : |
RAJ DEEP AUTOMATION PRIVATE LIMITED |
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Registered
Office : |
Survey
No. 143, 3rd Floor, |
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Country
: |
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Financials
(as on) : |
31.03.2006 |
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Date
of Incorporation : |
06.05.2003 |
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Com.
Reg. No.: |
25-17928 |
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CIN
No.: [Company
Identification No.] |
U32109PN1999PTC017928 |
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TAN
No.: (Tax
Deduction & Collection Account No.) |
PNER05568D |
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PAN
No.: (Permanent
Account No.) |
-- |
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Legal
Form : |
Private Limited Liability Company |
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Line
of Business : |
Manufacturer, Importer and Distributor of Industrial
Electronic Products. |
RATING
& COMMENTS
|
MIRA’s
Rating : |
Ba |
RATING
|
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet
normal commitments. |
Satisfactory |
|
Maximum
Credit Limit : |
USD
130000 |
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Status
: |
Good |
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Payment
Behaviour : |
Regular |
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Litigation
: |
Clear |
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Comments
: |
Subject is a well – established company having
satisfactory track. Directors are reported as experienced, respectable and
resourceful industrialists. Their trade relations are fair. Financial
position is good. Payments are usually correct and as per commitments. The company can be considered good for normal for business
dealings at usual trade terms and conditions. |
LOCATIONS
|
Registered
Office : |
Survey
No. 143, 3rd Floor, |
|
Tel.
No.: |
91-20-24393755 |
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Fax
No.: |
91-20-24393756 |
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E-Mail
: |
DIRECTORS
|
Name : |
Mr. Shrikant K Shah |
|
Designation
: |
Director |
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Address
: |
4, |
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Date
of Birth/Age : |
30.12.1946 |
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Date
of Appointment : |
21.06.1999 |
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Name : |
Mr. Deepak K Shah |
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Designation
: |
Director |
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Address
: |
5, Govardhan Society, Maharshi Nagar, Pune – 4110037 |
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Date
of Birth/Age : |
31st October, 1948 |
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Name : |
Mr. Bharat Shah |
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Designation
: |
Director |
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Address
: |
9/10, Kamalprabha Apartments, Pune – 4110037 |
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Date
of Birth/Age : |
07.12.1953 |
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Date
of Appointment : |
20.10.2002 |
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Name : |
Mr. Sandeep Shah |
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Designation
: |
Director |
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Address
: |
4, |
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Date
of Birth/Age : |
11.05.1972 |
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Name : |
Mr. Shrenik D Shah |
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Designation
: |
Director |
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Address
: |
5, Govardhan Society, Maharshi Nagar, Pune – 4110037 |
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Date
of Birth/Age : |
14.03.1975 |
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Date
of Appointment : |
21.06.1999 |
MAJOR
SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
|
Mr.
Shrikant Shah Joint with Smita Shah |
107294 |
|
Mr.
Deepak Shah Jt. Sandhya Shah |
10 |
|
Mrs.
Sandhya Shah Jt. Deepak Shah |
10 |
|
Mr. Anand
Shah HUF Jt. Deepak Shah |
10 |
|
Ms. Smita
Shah Jt. Shrikant Shah |
43894 |
|
Mr. Shrikant
Shah HUF |
41055 |
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Mr.
Sandeep Shah Jt. Shrikant Shah |
50274 |
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Mr.
Sandeep Shah Jt. Reema Shah |
116065 |
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Mrs.
Reema Shah Jt. Sandeep Shah |
23451 |
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Mr.
Sandeep Shah Jt. Smita Shah |
9286 |
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Ms.
Nilima Shah Jt. Bharat Shah |
10 |
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Mr. Bharat
Shah Jt. Nilima Shah |
15028 |
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Mr.
Shrenik Shah HUF |
21535 |
|
Mr. Oneil
Shah |
1000 |
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Mr.
Goutam Shah Jt. Deepak Shah |
10 |
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Mr.
Shrenik Shah Jt. Deepak Shah |
24851 |
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Mr.
Shrenik Shah Jt. Sheetal Shah |
209479 |
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Mr. Shrenik
Shah Jt. Bharta Shah |
32100 |
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Mr.
Shrenik Shah Jt. Shardaben Shah |
21479 |
|
Mr.
Dushyant Shah Jt. Harsha Shah |
10 |
|
Mr.
Harsha Shah Jt. Dushyant Shah |
10 |
|
Mr.
Neeraj Shah Jt. Mr. Dushyant Shah |
10 |
|
Ms.
Harsha Shah Jt. Sandhya Shah |
15436 |
All the shares areheld by directors or their relatives.
BUSINESS
DETAILS
|
Line
of Business : |
Manufacturer, Importer and Distributor of Industrial
Electronic Products. |
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Products
: |
v Motorised Potentiometer v Limit & Manual Switches v Optical Encoder v Timer v Power Pack v Electronic Amplifier v Digit able Presentable Counter |
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Terms
: |
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Selling : |
Cash & Credit (30 days) |
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Purchasing : |
L/C, Credit & Cash (30 days) |
PRODUCTION STATUS
|
Particulars |
Unit |
|
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Actual Production |
|
Motorised
Potentiometer |
Nos |
|
|
066 |
|
Limit
& Manual Switches |
Nos |
|
|
141 |
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Optical
Encoder |
Nos |
|
|
044 |
|
Timer |
Nos |
|
|
768 |
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Power
Pack |
Nos |
|
|
003 |
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Electronic
Amplifier |
Nos |
|
|
212 |
|
Digit
able Presentable Counter |
Nos |
|
|
002 |
GENERAL
INFORMATION
|
No. of
Employees : |
150 |
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Bankers
: |
Not Available |
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Facilities : |
- |
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Banking Relations : |
Unknown |
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Auditors
: |
Joshi & Pol Chartered Accountant |
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Address
: |
Malhari A-2/22, Ramburg Colony, Navi Peth, Pune-411030, |
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Associates/Subsidiaries
: |
Nil |
CAPITAL
STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
800000 |
Equity Shares |
Rs. 10/- Each |
Rs. 8.000 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
780679 |
Equity Shares |
Rs. 10/- Each |
Rs. 7.807 Millions |
FINANCIAL
DATA
[all
figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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|
SHAREHOLDERS
FUNDS |
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|
1] Share
Capital |
|
7.807 |
7.807 |
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|
2] Share
Application Money |
|
0.000 |
0.000 |
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3]
Reserves & Surplus |
|
26.627 |
17.398 |
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4]
(Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH
|
|
34.434 |
25.205 |
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|
LOAN
FUNDS |
|
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1]
Secured Loans |
|
0.000 |
0.000 |
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2]
Unsecured Loans |
|
15.623 |
19.245 |
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TOTAL
BORROWING
|
|
15.623 |
19.245 |
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|
DEFERRED
TAX LIABILITIES |
|
0.996 |
0.905 |
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TOTAL
|
|
51.053 |
45.355 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
|
|
12.299 |
12.453 |
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Capital work-in-progress
|
|
0.000 |
0.000 |
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INVESTMENT
|
|
6.640 |
3.857 |
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DEFERREX TAX ASSETS
|
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES
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Inventories
|
|
12.807 |
13.741 |
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Sundry Debtors
|
|
20.685 |
16.297 |
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Cash & Bank Balances
|
|
4.141 |
2.699 |
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Other Current Assets
|
|
0.000 |
0.001 |
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Loans & Advances
|
|
18.024 |
12.790 |
Total Current Assets
|
|
55.657 |
45.528 |
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Less : CURRENT LIABILITIES & PROVISIONS
|
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Current Liabilities
|
|
9.089 |
7.439 |
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Provisions
|
|
14.525 |
9.126 |
Total Current Liabilities
|
|
23.614 |
16.565 |
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Net
Current Assets
|
|
32.043 |
28.963 |
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MISCELLANEOUS EXPENSES
|
|
0.071 |
0.082 |
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TOTAL
|
|
51.053 |
45.355 |
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PROFIT & LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2006 (Estimated) |
31.03.2005 (Estimated) |
Sales Turnover [including other income]
|
|
125.000 |
100.000 |
KEY
RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
PAT / Total Income
|
(%)
|
|
NA |
NA |
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Net Profit Margin
(PBT/Sales) |
(%) |
|
NA |
NA |
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Return on Total Assets
(PBT/Total
Assets} |
(%) |
|
NA |
NA |
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Return on Investment (ROI)
(PBT/Networth) |
|
|
NA |
NA |
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Debt Equity Ratio
(Total
Liability/Networth) |
|
|
1.14 |
1.42 |
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Current Ratio
(Current
Asset/Current Liability) |
|
|
2.36 |
2.75 |
LOCAL
AGENCY FURTHER INFORMATION
Authorised Capital is increased from Rs. 1.000 Millions to Rs.
8.000 Millions and Registered office of the company also shifted from Mumbai to
pune for the convenience
In the current year they have diversified into manufacturing
also after a merge of Rajdeep Industrial Products Limited with Rajdeep Automation
Private Limited
Manufacturing activity of Rajdeep Industrial Products
Limited, was merged with the company w.e.f. 1st October, 2003 the
company Rajdeep Automation Private Limited was carrying out the trading
activities in last year
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.40.64 |
|
|
1 |
Rs.80.44 |
|
Euro |
1 |
Rs.54.65 |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT
LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT
POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER
MERIT FACTORS |
YES/NO |
YES |
|
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
|
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 |