MIRA
INFORM REPORT
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Report Date : |
04.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
POWER BUILD LIMITED |
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Registered Office : |
Post Box No.28, Vithal Udyognagar, Vallabh Vidyanagar-388121, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
15.04.1972 |
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Com. Reg. No.: |
04-2065 |
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CIN No.: [Company
Identification No.] |
U32201GJ1972PLC002065 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BRDP01133G |
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Legal Form : |
A Closely held Public Limited Liability Company |
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Line of Business : |
Manufacturer of Geared Motors, Belt Weighers, truck and Wagon
Loader |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 640000 |
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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 and reputed company having satisfactory track.
Directors are reported as experienced and respectable businessmen. Trade
relations are 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/Factory : |
Post Box No.28, Anand – Sojitra Road, Vithal Udyognagar, Vallabh
Vidyanagar-388121, Gujarat, India |
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Tel. No.: |
91-2692-231070/ 231120/231170 |
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Fax No.: |
91-2692-46559/236559 |
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E-Mail : |
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Website: |
DIRECTORS
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Name : |
Mrs. M.B. Patel |
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Designation : |
Managing Director |
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Date of Birth/Age : |
Honest House, Bakrol |
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Name : |
Mr. R.B. Shelat |
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Designation : |
Director |
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Name : |
Mrs. Jayaben M. Patel |
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Designation : |
Director |
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Address : |
Koshali Bungalow, Vidyanagar-Karamsad Road, Karamsad |
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Name : |
Mr. Bhanubhai I. Patel |
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Designation : |
Chairman |
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Address : |
Honest House, Bakrol Road, Vallabh Vidyanagar, Anand-388120, Gujarat,
India |
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Date of Birth/Age : |
17.03.1928 |
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Date of Appointment : |
05.12.2000 |
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Name : |
Mr. Prayasvin B. Patel |
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Designation : |
Managing Director |
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Address : |
Honest House, Bakrol Road, Vallabh Vidyanagar 388120, Gujarat, India |
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Date of Birth/Age : |
03.04.1958 |
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Date of Appointment : |
31.10.1999 |
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Name : |
Mrs. K.A. Patel |
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Designation : |
Director |
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Name : |
Mrs. Kanisha B. Patel |
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Designation : |
Director |
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Address : |
Honest House, Bakrol Road, Ballabh Vidyanagar, Anand-388120, Gujarat,
India |
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Date of Appointment : |
30.06.1983 |
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Name : |
Mr. Dineshbhai M. Patel |
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Designation : |
Whole Time Director |
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Address : |
Trishal Plot No.151, B/H Rangoli Apartment, Karamsad Road, Vallabh
Vidyanagar, Anand-388120, Gujarat, India |
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Date of Birth/Age : |
10.05.1953 |
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Date of Appointment : |
01.04.2007 |
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Name : |
Mr. Prashant Chandrakant Amin |
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Designation : |
Director |
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Address : |
Shital, Bhikhabhai Marg, Vallabh Vidyanagar, Gujarat-388120, India |
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Date of Birth/Age : |
09.08.1956 |
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Date of Appointment : |
01.10.2006 |
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Other Directorships : |
v Emtici
Engineering Limited v Prayas Castings
Limited v Elecon
Information Technology Limited v Akaaish
Mechatronics Limited v Power Build
Elecon Gears Limited v V V N Manufacturing
and Investa Limited |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
[As on 30.09.2005]
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Names of Shareholders |
No. of Shares |
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Emica Engineering Private Limited |
9960 |
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Kanisha B. Patel |
20 |
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Western Metal Caps Limited |
2 |
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K. B. Investment Limited |
14700 |
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Bipra Investment and Trusts Private Limited |
5000 |
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Madhuben Patel |
310 |
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Madhuben Patel |
8 |
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Jamko Consultants Private Limited |
2500 |
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Aishwariya Prayasvin Patel |
3745 |
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Aakanksha Prayasvin Patel |
3755 |
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Total |
40000 |
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Equity Share
Break-up [As on 31.03.2007] |
Percentage of
Holding |
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Bodies Corporate |
90.83 |
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Directors or relatives of the Directors |
9.17 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Geared Motors, Belt Weighers, truck and Wagon
Loader |
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Products : |
v Automatic
Weighing cum Tipping/ Bag Filling Machine v Microprocessor
based Beltweighers/ Weighfeeders v Wagon Loader/
Truck Loaders v Electromagnetic
Separators/ Suspension Electromagnets v Metal Detectors v Geared Motors v Electric Hoist v Power |
GENERAL
INFORMATION
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No. of Employees : |
About 100 |
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Bankers : |
State Bank of India, Specialised Commerical Branch, Jayalaxmi Plaza, Ganesh Crossing, Anand-388001 |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
J.D. Zatakia & Company Chartered Accountants |
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Address : |
109, Vyapar Bhavan, 49, P.D’ Mello Road, Mumbai-400009, Maharashtra,
India |
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Tel. No.: |
91-22-23780564 |
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Fax. No.: |
91-22-23780565 |
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Mobile No.: |
91-9820122976 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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400000 |
Equity shares |
Rs.100/- each |
Rs.40.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs.100/-
each |
Rs. 30.000
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
30.000 |
16.500 |
4.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
132.347 |
85.990 |
85.644 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
(11.475) |
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NETWORTH |
162.347 |
102.490 |
78.169 |
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LOAN FUNDS |
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1] Secured Loans |
254.289 |
151.254 |
125.725 |
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2] Unsecured Loans |
96.996 |
90.858 |
87.510 |
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TOTAL BORROWING |
351.285 |
242.112 |
213.235 |
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DEFERRED TAX LIABILITIES |
8.721 |
2.831 |
0.000 |
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TOTAL |
522.353 |
347.433 |
291.404 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
180.861 |
133.388 |
144.009 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
35.635 |
35.635 |
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DEFERREX TAX ASSETS |
35.635 |
0.000 |
2.976 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
197.109
|
140.220 |
89.750 |
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Sundry Debtors |
343.500
|
223.263 |
105.137 |
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Cash & Bank Balances |
14.923
|
6.081 |
5.501 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
76.147
|
38.903 |
22.307 |
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Total
Current Assets |
631.679
|
408.467 |
222.695 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
294.189
|
220.079 |
107.009 |
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Provisions |
31.633
|
9.978 |
7.735 |
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Total
Current Liabilities |
325.822
|
230.057 |
114.744 |
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Net Current Assets |
305.857
|
178.410 |
107.951 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.833 |
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TOTAL |
522.353 |
347.433 |
291.404 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
812.039 |
504.213 |
299.112 |
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Other Income |
5.986 |
5.467 |
0.000 |
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Total Income |
818.025 |
509.680 |
299.112 |
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Profit/(Loss) Before Tax |
73.903 |
19.871 |
(18.365) |
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Provision for Taxation |
- |
- |
6.750 |
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Profit/(Loss) After Tax |
73.903 |
19.871 |
(11.615) |
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Earnings in Foreign Currency : |
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Export Earnings |
NA |
NA |
11.254 |
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Total Earnings |
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11.254 |
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Imports : |
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Raw Materials |
NA |
NA |
11.552 |
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Stores & Spares |
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|
0.175 |
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Capital Goods |
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|
31.223 |
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Total Imports |
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42.950 |
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Expenditures : |
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Raw Material Consumed |
453.063 |
277.062 |
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Salaries, Wages, Bonus, etc. |
35.045 |
25.067 |
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Managerial Remuneration |
1.407 |
4.236 |
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Payment to Auditors |
0.099 |
0.060 |
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Interest |
26.676 |
20.944 |
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Insurance Expenses |
1.218 |
0.861 |
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Power & Fuel |
14.367 |
9.593 |
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Depreciation & Amortization |
41.121 |
40.876 |
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Other Expenditure |
171.126 |
111.110 |
256.450 |
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Total Expenditure |
744.122 |
489.809 |
256.450 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
9.03
|
3.89 |
(3.88) |
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Net Profit Margin (PBT/Sales) |
(%) |
9.10
|
3.94 |
(6.13) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
9.09
|
3.66 |
(5.00) |
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Return on Investment (ROI) (PBT/Networth) |
|
0.45
|
0.19 |
(0.23) |
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Debt Equity Ratio (Total Liability/Networth) |
|
4.17
|
4.61 |
4.19 |
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Current Ratio (Current Asset/Current Liability) |
|
1.93
|
1.77 |
1.94 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
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This Form is for |
Modification of charge |
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Charge
identification number of the charge to be modified |
90112120 |
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Corporate identity
number of the company |
U32201GJ1972PLC002065 |
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Name of the
company |
POWER BUILD
LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
Post Box No.28, Anand Sujitra Road, Vithal Udyognagar, Vallabh
Vidyanagar-388121, Gujarat |
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Type of charge |
Immovable Property Movable Property Others |
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Particular of
charge holder |
State Bank of
India Specialised
Commercial Branch, Ganesh Crossing, Anand 388001, Gujarat, India |
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Nature of description
of the instrument creating or modifying the charge |
Supplemental deed
of hypothecation form C-10, Form C-5, Form C-1A. |
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Date of
instrument Creating the charge |
23.02.2007 |
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Amount secured by
the charge |
Rs. 322.600
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
[a] Rate of
interest 0.50% below SBAR
minimum 11.75%. [b] Terms of
repayment 59 monthly
installments of Rs. 0.440 Millions each and 1st installments of
Rs. 0.540 Millions commencing after a moratorium of for months from the date
of disbursement. [c] Margin 30.45% [d] Extent and
operation of the charge As per sanction
letter |
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Short particulars
of the property charged |
Hypothecation of machinery
to be purchased out of bank finance and extension of charge over current
assets and extention of equitable mortgage over land and building and charge
over movable machinery. |
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Date of latest
modification prior to the present modification |
20.09.2006 |
|
Particulars of
the present modification |
The total
financial assistance has been increase from 277.600 Millions to 322.600
Millions. |
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Name of the company |
POWER BUILD
LIMITED |
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Presented By |
D. M. Patel |
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1) Date and description of instrument creating the change |
Agreement for hypothecation of goods and assets dated 1992 subsequently modified by Supplemental hypothecation of assets dated 28.06.1995 and 27.11.1995 and creation of equitable mortgage on 15.03.1997 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 37.258 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 |
Company’s entire stocks of raw materials, stok in process, finished goods stored, spares, book debts, receivables and other movable and immovable assets such as plant, machinery, land, building, furniture etc. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The said assets shall be charged/ hypothecated to State Bank of India by way of first charge as security for payment by the company of State bank of India of all monies payable by the company to State Bank of India in discharge of all indebtedness or facilities of the company. Interest on Cash Credit will be charged as per the rate applicable for a Credit rating of SB 4 currently at 2.5% over the State Bank advance rate [SBAR]. Interest on Term Loan will be charged as per the rate applicable to SBTL3 currently at 2.10 over State Bank Medium term lending Rate The company to duly repay to SBI amounts with interest and other monies such as liquidated damages, Compound interest and other expenses payable by the Company and secured by said assets. The Company to keep said goods in marketable and good condition and also keep insured as provided therein. |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of India Specialized Commercial Branch, Jayalaxmi Plaza, Ganesh Crossing, Anand-388001 |
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6) Date and brief description of instrument modifying the charge |
Supplemental Agreement for hypothecation of goods and Assets dated 28.06.1995 Supplemental Agreement for Hypothecation of goods and assets dated 27.11.1995. The Financial assistance of Rs. 54.596 Millions has been reduced to Rs. 46.500 Millions on 15.03.1997 and limit of Rs. 46.500 Millions has been secured by creation of equitable mortgage by deposit of title deeds in respect of immovable properties of the company being freehold land situated and lying at Survey No. 116 adm. 2.25 A G. Survey No. 118/1 adm. 1.21 A. G. Survey No. 119 adm. 1.27 A.G., Survey No. 124 adm. 1.29 A. G. Survey No. 118/2 adm. 0.25 A. G. Survey No. 122 paiki adm. 0.24 A. G. Survey No. 139 adm. 0.29 A. G. aggregating to 13.14 A. G. at village Mogari, Taluka and District Anand with Super structure thereon. Form No. C – 5 regarding the grant of individual limits within the overall limits dated 01.04.1998. Form No. C – 5 regarding the grant of individual limits within the overall limits including the grant of corporate loan of Rs. 10.000 Millions dated 02.11.2000. Form No. C – 5 regarding the grant of individual limits within the overall limits including the grant of Corporate Loan of Rs. 10.000 Millions dated 24.04.2002. Form No. C – 5 regarding the grant of individual limits within the overall limits including the grant of Term Loan of Rs. 10.000 Millions dated 08.02.2003. Supplemental Agreement of hypothecation dated 06.12.2003 and on the day extention of equitable mortgage by giving consent to retain the title deeds of the company to secure the financial assistance over its immovable properties of the company. NON MODIFIED BY Supplemental Agreement of loan for increase in the overall limit dated 09.08.2004. Supplemental Agreement of hypothecation of goods and assets dated 09.08.2004. No instrument was executed, but on 09.08.2004 extension of equitable mortgage by giving consent to retain the title deeds, for creating further charge in respect company’s immovable property being freehold land situated and lying at Survey No. 116 adm. 2.25 A G. Survey No. 118/1 adm. 1.21 A. G. Survey No. 119 adm. 1.27 A.G., Survey No. 124 adm. 1.29 A. G. Survey No. 118/2 adm. 0.18 A. G. Survey No. 124 adm. 1.29 A. G. Survey No. 118/2 adm. 0.18 A. G. Survey No. 120 adm. 1.00 A.G. Survey No.121 adm. 0.25 A. G., Survey No. 122 paiki adm. 0.24 A. G. , Survey No. 122 paiki adm. 1.15 A. G. Survey No. 123 adm. 1.23 A. G. Survey No. 139 adm. 0.29 A.G. aggregating to 13.14 A. G. at Village Mogari, Taluka and District Anand with super structure thereon. |
|
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. |
EARLIER MODIFIED BY Supplemental agreement of hypothecation of Goods and Assets dated 28.06.1995 modifying and enhancing the overall limit from Rs. 37.258 Millions to 41.096 Millions secured by H. P. of goods and assets of the company. Supplemental Agreement of hypothecation of goods and assets dated 27.11.1995 modifying and enhancing the overall limit from Rs. 41.096 Millions to 54.596 Millions secured by hypothecation of goods and assets of the company. The financial assistance of Rs. 54.596 Millions has been reduced to Rs. 46.500 Millions on 15.03.1997 and limit of Rs. 46.500 Millions has been secured by creation of Equitable mortgage by deposit of title deeds in respect of immovable properties of the company situated at Village Mogri, Taluka and District Anand. Further the charge has been reduced from Rs. 46.500 Millions to Rs. 35.500 Millions on 01.04.1998. The overall limit of financial assistance remained unchanged and nature of various facilities was changed on 02.11.2000. The amount of charge has been increased from Rs. 39.500 Millions to Rs. 46.500 Millions on 08.02.2003. On 06.12.2003 the financial assistance was further enhanced to Rs. 0.001 Millions NOW MODIFIED BY On State Bank of India sanctioning the additional facilities, the charge is now further modified as under : By supplemental deed of hypothecation of goods and assets dated 09.08.2004 the charge on the property described in Serial No. 3 above is futher enhanced to secure the repayment of increased overall financial assistance of Rs. 183.000 Millions in favor of the State Bank of India, specialized Commercial Branch, Anand. No instrument was executed but on 09.08.2004 equitable mortgage has been further extended to secure the repayment of the enhanced overall financial assistance of Rs. 183 Millions by giving consent to retain the title deeds for creating further charge in respect of company’s immovable properties mentioned under Serial No. 6 above on which equitable mortgage was created on 15.03.1997 to secure the financial assistance of Rs. 46.500 Millions and further extended on 06.12.2003 to secure the enhanced financial assistance of Rs. 157.500 Millions. Rate of interest: 1.25% below SBAR effective rate 9% p.a. on term loan. The margin and other terms and conditions shall be as per C-5 attached herewith. |
AS PER WEBSITE
DETAILS:
Established in 1972, Power Build Limited of Vallabh Vidyanagar, Gujarat, India, pioneered the manufacturing of Geared Motors in India. During these two and half decades, Power Build has designed and implemented several landmark projects in India as well as abroad. It has grown over the years to be known as a pioneer in the field of mechanised Material Handling Equipment in India. During the same period, Power Build has encompassed all the major core sectors through its supplies of highly sophisticated equipment bearing ample testimony of the symbolic mark of Power Build's unbeatable technology. Power Build has thus, made its presence felt through consistent and satisfactory performance of its equipment in core sectors like fertilizer, cement, coal/power generation, chemical, steel plants etc., across India.
MARKETING SERVIES
EMTICI Engineering Limited, is the marketing and servicing company
appointed for subject products. All products requirements may be directed to
the nearest EMTICI branch - East, West, North,
South and Central.
KOLKATA
EMTICI Engineering Limited .
68, Sarat Bose
Road,1st floor, Kolkata 700 025. West Bengal, INDIA
Phone : 91-33-24761861, 24760876, 24760904, 24760926
Fax : 91-33-24761831
E-Mail :salescal@calemtici.com
ASANSOL
EMTICI Engineering
Limited .
140, G.T. Road, Murgasol, Asansol 713 303. Dist : Burdwan, W. Bengal - INDIA
Phone : 91-341-2205901, 2211726
Fax : 91-341-2202038
E-Mail : salesasn@asnemtici.elecon.com
DHANBAD
EMTICI Engineering
Limited .
Katras Road, Matkuria, Dhanbad 826 001. INDIA
Phone : 91-326-2306283, 2302320
Fax : 91-326-2302320
E-Mail : salesdhn@dhnemtici.elecon.com
JAMSHEDPUR
EMTICI Engineering
Limited .
K-12,Koshi Apt., Dinma Road, At.Siroman Nagar, PO-MGM College, Jamshedpur 831
018. East Singhbhum,Jarkhand,INDIA
Phone : 91-657-2361837, 2362376
Fax :P.P. 91-657-2464241
E-Mail : sales_jns@jmpemtici.elecon.com
AHMEDABAD
EMTICI Engineering
Limited .,
12, Shree Krishna
Centre, 2nd floor, Near Mithakhali Six Roads, Navrangpura, Ahmedabad 380 006,
Gujarat - INDIA
Ph. No. : 91-79-26406683/84/85/86
Fax No. : 91-79-26401363
E-mail : sales@ahdemtici.elecon.com
VADODARA
EMTICI Engineering
Limited .
F-6, 1st Floor,Panorama Complex, R. C. Dutt Road, Alkapuri, Vadodara 390
007,Gujarat - INDIA
Ph. No. : 91-265-2312972,2312980
Fax No. : 91-265-2312972,2312980
E-mail : salesbrd@brdemtici.elecon.com
MUMBAI -1
EMTICI Engineering Limited .
Apeejay House, 1st
Floor, 3,Dinshaw Vachha Road, Churchgate Reclamation, Mumbai 400 020.
Maharashtra, INDIA
Phone : 91-22-22821315, 22820725, 22821365,22870792, 22815693
Fax : 91-22-22870791
E-Mail : salesbom@bomemtici.elecon.com
MUMBAI-2
EMTICI Engineering
Limited .
Opp.Upkar Hotel, I. B. Patel Road, Goregaon (East), Mumbai 400 063,
Maharashtra, INDIA
Phone : 91-22-26865904/05/ 26861398
Fax : 91-22-26860503
E-Mail : salesgorg@bomemtici.elecon.com
PUNE
EMTICI Engineering
Limited .
204-205, Jewel Towers, North main Road, Koregaon Park, PUNE - 411 001,
Maharashtra, INDIA
Phone :
91-20-26141795
Fax: 91-20-26141793
E-mail : salespun@puneemtici.elecon.com
VALLABH VIDYANAGAR
EMTICI Engineering
Limited .
Anand Sojitra Road, Vallabh Vidyanagar 388120,
Gujarat, India.
Phone : 91-2692-230168, 231082, 231419, 231125
Fax : 91-2692-236508
E-Mail : sales_emtici@emtici.elecon.com
NEW DELHI
EMTICI Engineering Limited .
418, 4th floor, World Trade Center, Babbar Road, New Delhi 110 001, INDIA
Phone : 91-11-23414340, 23414341, 23414069
Fax : 91-11-23709046
E-Mail : salesdel@delemtici.elecon.com
CHENNAI
EMTICI Engineering
Limited .
3rd Floor,East Coast Center, 553, Mount
Road, Post Box No. 1497, Teynampet, Chennai 600 018, INDIA
Phone : 91-44-24349237, 24348487, 24322455
Fax : 91-44-24349643
Email : salesmad@mademtici.elecon.com
BANGALORE
EMTICI Engineering
Limited .
AA3, 1st Floor, 'Ca’ Imperial, Court Apartments, 33/1, Cunningham Road,
Bangalore 560 052.
INDIA
Phone: 91-80-22250082, 22282925, 22260219
Fax : 91-80-22281834
E-Mail : salesbgl@bglemtici.elecon.com
SECUNDERABAD
EMTICI Engineering Limited .
503, Chenoy Trade Centre, 116, Parklane Secunderabad – 500003, INDIA
Phone : 91-40-27844748, 27845250, 27846984
Fax : 91-40-27848317
E-Mail : salessec@secemtici.elecon.com
NAGPUR
EMTICI Engineering
Limited .
101/104, ‘Shree Mohini’ Complex, 1st Floor, 345, Kingsway, Nagpur 440001,
Maharashtra, INDIA
Phone : 91-712-2540771, 2531601,2520610
Fax : 91-712-2554982
E-Mail : salesnag@nagemtici.elecon.com
BILASPUR
EMTICI Engineering
Limited .
Vyapar Vihar, Plot No. 113, Zone 1 Ring Road, Bilaspur 495 001. Madhya Pradesh,
INDIA
Phone : +91-7752-235766, 228922, 224122
Fax : +91-7752-223188
E-Mail : salesbil@bilemtici.elecon.com
OVERSEAS OFFICES
SINGAPORE
Elecon Singapore Pte Limited
10, ANSON ROAD, #24-03
INTERNATIONAL PLAZA,
SINGAPORE 079903
Phone: +65 62278258
Fax: +65 62278942
Email :keyur@elecon.com,
vipul@singapore.elecon.com
SOUTH AFRICA
Elecon Africa Pty Limited
29, Almard Street, North Cliff, 2195,
South Africa
Postal Address:P.O.Box 202 Florida Hills
1716, Johannesburg, South Africa
Phone no.: +27 11 4771776 : +27 11 4766560
Fax no.: +27 11 4767250
E-mail : gdramsay@mweb.co.za,
jnshah@gear.elecon.com
AUSTRALIA
Elecon Australia Pty Limited
Unit 37, 398, The Boulevarde Kirrawee, NSW 2232 Australia.
Postal Address:P.O.Box 3065
Kirrawee, DC NSW 2232 Australia.
Phone no.: +61 2 9542 2955 Fax no.: +61 2 9542 2677
E-mail : thall@eleconaustralia.com,
gtarrant@eleconaustralia.com
MIDDLE EAST REGION
Elecon Middle East FZCO
Office No :- 5EA420
Po Box:- 54754
Dubai Airport Free Zone, Dubai UAE
Phone: 00971 4 6091 424/425
Fax: 00971 4 6091 426
E-mail :- keyur@elecon.com,
rajen@dubai.elecon.com,
milap@dubai.elecon.com,
ncshah@dubai.elecon.com
MIDDLE WEST REGION
Elecon Engineering
( Suzhou) Co. Limited
1009B, 10th FLOOR
International Building No 2, Suhua Road
Suzhou Industrial Park
Suzhou CHINA
Phone: 0086-512-62881662
Fax : 0086- 512- 62881662
E-mail : keyur@elecon.com,
bboza@china.elecon.com
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.39.95 |
|
UK Pound |
1 |
Rs. 79.41 |
|
Euro |
1 |
Rs.62.49 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
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 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
63 |
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 |
|