MIRA
INFORM REPORT
|
Report Date : |
22.09.2007 |
IDENTIFICATION DETAILS
|
Name : |
PRECISION
STAMPINGS – UNIT OF GUPTA MACHINE TOOLS LIMITED |
|
|
|
|
Registered Office : |
Flat – B, 122 Avenue South, Santoshpur, Kolkata – 700075, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
28.09.1954 |
|
|
|
|
Com. Reg. No.: |
21-021880 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U99999WB1954PLC021880 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
RTKP03265D RTKP02223E CALG00596B |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AABCG0676Q |
|
|
|
|
Legal Form : |
Public limited liability company. |
|
|
|
|
Line of Business : |
Manufacturer, Exporter,
Importer and Trader of Electronic Stampings. |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 733000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well
established and reputed company having fine track. Directors are reported as
experience and respectable business.
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. The company can
be regarded as a promising business partner in a medium to long run. |
LOCATIONS
|
Registered Office : |
Flat-B, 122 Avenue South, Santoshpur , Kolkata –700 075, |
|
Mobile No.: |
91-9810001874 |
|
Fax No.: |
91-129-2233628 |
|
E-Mail |
|
|
|
|
|
Head Office : |
Plot No. 106,
Sector – 24, |
|
Tel. No.: |
91-129-2233784 / 4021354, 4021355, 4021579, 4021631 |
|
Mobile No. : |
91-9810001874 |
|
Fax No.: |
91-129-2233628 |
|
E-Mail : |
|
|
|
|
|
Area : |
5500 sq. mtrs. |
|
Location : |
Owned |
|
|
|
|
Branch Office : |
W-2, Greater Kailash-II , New Delhi-110048, |
|
Tel. No.: |
91-11-29210901,
29214856 |
|
Fax No.: |
91-11-29214861 |
|
|
|
|
PRECISION STAMPINGS UNIT II: |
71, Sector-25, Faridabad-121005 , |
|
Tel. No.: |
91-129-5061065,
5060216 |
|
|
|
|
PRECISION STAMPINGS UNIT III: |
Plot No. 1, Gat No. 907/2, Sanaswadi, Shirpur, Pune, |
|
Tel. No.: |
91-2137-252139, 252151 |
|
|
|
|
GOA PRECISION STAMPINGS PRIVATE LIMITED: |
Plot No. 7, Kurti Haveli, Opp. Kurti Chemicals and Ponda , Goa-403401 |
|
Tel. No.: |
91-832-2314996, 2314997 |
|
|
|
DIRECTORS
|
Name : |
Mr. Mohan Gupta |
|
Designation : |
Managing Director & Chairman |
|
Date of Birth/Age : |
56 Years |
|
Qualification : |
Graduate |
|
Experience : |
23 Years |
|
|
|
|
Name : |
Mr. Harsh Gupta |
|
Designation : |
Director -
Operations |
|
Date of Birth/Age : |
43 Years |
|
Qualification : |
Graduate |
|
Experience : |
10 Years |
|
|
|
|
Name : |
Smt. Sangita Gupta |
|
Designation : |
Director |
|
|
|
|
Name : |
Sri M. L. Bhagat |
|
Designation : |
Secretary & Director |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer,
Exporter, Importer and Trader of Electrical Stampings. |
|
|
|
|
Exports to : |
|
|
Products : |
Raw material and
Machinery |
|
|
|
|
Imports from : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit
(30 days) |
|
|
|
|
Purchasing : |
L/C, Cash and
Credit (30 days) |
|
|
|
PRODUCTION STATUS
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Electrical Stampings, Lamination for Motors Transformer etc. |
MT Nos. |
8500 -- |
8200 -- |
*9331.473 767188 |
|
|
|
|
|
|
|
Jigs, Fixtures, Gauges, Tools And Moulds |
Nos. |
3.600 millions |
3.600 millions |
1 Nos. |
* Production and
sales shown including job work from customer’s materials in finished and
semi-finished condition total production quantity 1456.214 M.T. (Previous Year
972.675 M.T.) and sales quantity 1457.356 M.T. (Previous Year 971.533 M.T.)
*Inter Unit job
work and sales has not been include in production and sales figure.
Notes :
- Installed Capacity is as certified by the management .
- Industrial License is not required for precision stampings but the unit
is registered with directorate general of technical development for
production of tools, Dies etc. for value upto 3.600 millions including
goods manufactured for captive use.
- industrial License is not required for manufacturing stampings and
Laminations. However, company received the industrial license of 3000 M.
Ton capacity for precision stampings,
GENERAL INFORMATION
|
Products : |
|
||||||||||
|
|
|
||||||||||
|
Customers : |
Local Customers
and End Users |
||||||||||
|
|
|
||||||||||
|
No. of Employees : |
700 |
||||||||||
|
|
|
||||||||||
|
Bankers : |
Canara Bank , |
||||||||||
|
|
|
||||||||||
|
Facilities : |
|
||||||||||
|
|
|
||||||||||
|
Banking Relations : |
Satisfactory |
||||||||||
|
|
|
||||||||||
|
Auditors : |
|
||||||||||
|
Name : |
B. M. Chatrath
And Company Chartered
Accountants |
||||||||||
|
Address : |
22, Jangpura –
A, |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs.100/- each |
Rs.30.000 millions |
|
|
|
|
|
|
200000 |
5% Redeemable Cumulative Pref. Share |
Rs.100/- each |
Rs.20.000 millions |
|
|
|
Total |
Rs.50.000 |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
|
|
147500 |
Equity Shares |
Rs.100/- each |
Rs.14.750 millions |
|
|
|
|
|
|
|
|
2500 |
Equity Shares |
Rs.100/- each |
Rs.0.250 million |
|
|
|
|
|
|
|
|
200000 |
5% Redeemable Cumulative Pref. Share |
Rs.100/- each |
Rs.20.000 millions |
|
|
|
|
Total |
Rs.35.000
millions |
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
35.000 |
17.500 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
148.368 |
111.897 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
183.368 |
129.397 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
214.815 |
138.040 |
|
|
2] Unsecured Loans |
|
17.479 |
17.304 |
|
|
TOTAL BORROWING |
|
232.294 |
155.344 |
|
|
DEFERRED TAX LIABILITIES |
|
10.827 |
9.339 |
|
|
|
|
|
|
|
|
TOTAL |
|
426.489 |
294.080 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
221.059 |
167.325 |
|
|
Capital work-in-progress |
|
17.988 |
9.262 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
2.419 |
4.622 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
80.164 |
59.852 |
|
|
Sundry Debtors |
|
134.255 |
103.171 |
|
|
Cash & Bank Balances |
|
28.383 |
27.078 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
47.229 |
11.297 |
|
Total
Current Assets |
|
290.031 |
201.398 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
98.044 |
80.072 |
|
|
Provisions |
|
6.964 |
8.455 |
|
Total
Current Liabilities |
|
105.008 |
88.527 |
|
|
Net Current Assets |
|
185.023 |
112.871 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
426.489 |
294.080 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
|
931.878 |
804.213 |
|
|
Other Income |
|
27.690 |
13.532 |
|
|
Increase (Decrease) in stocks |
|
10.241 |
4.976 |
|
|
Total Income |
|
969.809 |
822.721 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
59.821 |
53.199 |
|
|
Provision for Taxation |
|
18.279 |
19.372 |
|
|
Profit/(Loss) After Tax |
|
41.542 |
33.827 |
|
|
|
|
|
|
|
|
Imports : |
|
|
|
|
|
|
Raw Materials |
|
47.641 |
12.549 |
|
Total Imports |
|
47.641 |
12.549 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Cost of Goods Sold |
|
0.000 |
0.000 |
|
|
Manufacturing Expenses |
|
53.796 |
53.285 |
|
|
Selling Expenses |
|
22.373 |
14.198 |
|
|
Raw Material Consumed |
|
597.096 |
502.542 |
|
|
Purchases made for re-sale |
|
0.190 |
0.000 |
|
|
Consumption of stores and spares parts |
|
0.000 |
0.000 |
|
|
Increase/(Decrease) in Finished Goods |
|
0.000 |
0.000 |
|
|
Salaries, Wages, Bonus, etc. |
|
26.317 |
24.584 |
|
|
Managerial Remuneration |
|
0.000 |
0.000 |
|
|
Payment to Auditors |
|
0.000 |
0.000 |
|
|
Interest |
|
25.661 |
17.547 |
|
|
Insurance Expenses |
|
0.000 |
0.000 |
|
|
Power & Fuel |
|
0.000 |
0.000 |
|
|
Depreciation & Amortization |
|
10.396 |
8.863 |
|
|
Other Expenditure |
|
147.156 |
148.502 |
|
Total Expenditure |
|
|
|
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
4.28 |
4.20 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
6.41 |
6.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
11.70 |
14.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.32 |
0.41 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
1.83 |
1.88 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
2.76 |
2.27 |
LOCAL AGENCY FURTHER INFORMATION
Review And Future
Prospects :
During the year under review the total Turnover of the company increased
by 15.68 % from Rs. 813.900 millions to Rs.941.500 millions including job work
receipts Rs. 9.600 millions (1456 M. Ton) The Company achieved higher
production in all its three manufacturing units compared to the previous year.
Net profit before tax of The company increased from Rs. 53.200 millions to Rs.
59.800 millions. The company achieved
higher turnover and profit in all its three units. Total production increased
to 9331 M. Ton from 8313 M. Ton. The Outlook for the current years is bright
and the order book position remain buoyant with the addition of several new
customers. To achieve the further growth, The company proposed to continue
further enhancement of the capacity in all the three Units. The capital needs
for this will be met by Term Loans, Equity and Internal accruals.
Trade
References:
v
Escort
Auto Ancillary Limited
v
Orient
Fans Limited
Fixed
Assets
·
Land
·
Building
·
Land
And Building
·
Plant
and Machinery
·
Furniture
and fixture
·
Office
Equipment
·
Electrical
Installation
·
Measuring,
Handing and Testing Equipment
·
Motor
Vehicles
·
Truck
Tempo
AS PER WEBSITE:
THE COMPANY
Precision Stampings was set up in 1971 at
The parent company Gupta Machine Tools Ltd. was a pioneering
venture in early 60s with its first unit Precision Tools & Instruments,
Gupta Machine Tools Ltd. also provided Technical know how to a
Malaysian company for the manufacture of gauges, tools, stampings and
laminations.
In the year 1994, The Company set up a new unit called
"Precision Lamps" for manufacture of H3 Halogen lamps. This is a 100%
E.O.U. with foreign collaboration.
In the year 2000, the company set up another unit called
"Precision Stampings Unit No. II" located at Plot No. 71, Sector -25,
PRODUCTS
v
Auto Stacked &
Auto skewed rotor & stator packs having two row and three row stamping
controller
v
Die cast rotors for
FHP motors
v
Die cast rotors for
larger frame sizes
v
Large
Motors Die Cast Rotors
v
315
Frame Die Cast Rotor
v
Wound stator stack,
rivetted, cleated stacks
PRECISION STAMPINGS, one of the largest manufacturers of Stampings
and Laminations offers a wide range for a variety of applications. There are
over 400 types of stampings for which tools are available off the shelf having
been developed at our own facility. Almost all types of Stampings and
laminations are manufactured at the unit. Specific designs are continuously
developed for clients' requirements. A range of standard stampings is available
for motors, pumps, fans and alternators and other rotating machines.
In
their quest to reach out to the customers' specific and individualistic
requirements, the range now also includes Built-up stacks in the form of
Rivetted, Cleated, Welded and wound stator stacks and also aluminium die cast
rotors. From FHP Motors to large motors, the size range spans upto 700mm Ř and
will shortly extend to extra large motor stampings of upto 1000mm Ř. In
contrast to this, the unit also makes laminations for the small Transformers,
Meters and Chokes. The facility also turns over a host of sheet metal parts and
components for a variety of applications.
Welded stator stack
The unit is vending to all major multinationals like ABB, LG
Electronics, Siemens, GE, Tecumseh etc. and also major Indian giants like
Bharat Bijlee, Crompton and Indian railways. The unit is the first bulk
exporter of stamping and has been exporting regularly to North America,
The company is also manufacturing and exporting FHP motors and
other motor components like switches, shafts, end-shields, etc.
STRENGTHS
AND CAPABILITIES
The company define their strengths and capabilities in six
segments :
1. Tool Room and Design Facilities
The
company has completed three decades of its operations and is growing. This is
basically because of their above mentioned strengths. The company has added a
number of reputed companies to their customer list and are also enjoying green
channel status with them. The company is constantly adding to their
capabilities in order to meet and exceed the growing demand of their customers.
Their motto has always been not to compromise on quality and
delivery and the company abide by this religiously
PRECISION
STAMPINGS UNIT II
The company has set up a new unit in the beginning of year 2000
for production of electrical stampings and laminations. The company has
installed two high speed presses and a host of C frame presses in this unit.
The company will also be setting up an in-house tool room here. This unit
should double our production capacity by the end of this 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.39.82 |
|
|
1 |
Rs.80.85 |
|
Euro |
1 |
Rs.56.22 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
8 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
8 |
|
--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 |
YES |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
69 |
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. |
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 |
|