MIRA
INFORM REPORT
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Report Date : |
30.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
FAB AUTO PARTS PRIVATE LIMITED |
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Registered Office : |
J-407, MIDC,
Bhosari, Pune – 411026, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
28.03.2000 |
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Com. Reg. No.: |
25-14679 |
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CIN No.: [Company
Identification No.] |
U24229PN2000PTC014679 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEF00514D |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturers of
all types of Press Components |
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 8000 |
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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. Trade relations
are fair. Business is active. Payments are reported as 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 : |
J-407, MIDC,
Bhosari, Pune – 411026, Maharashtra, India |
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Tel. No.: |
91-20-27122195 /
56112942 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Fakirbhai
Azam Pansare |
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Designation : |
Director |
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Address : |
22 / A, Plot –
166, Pradhikaran, Nigdi Pune – 411044, Maharashtra, India |
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Date of Birth/Age : |
12.02.1960 |
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Date of Appointment : |
28.03.2000 |
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Name : |
Mr. Nelofer
Pansare |
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Designation : |
Director |
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Address : |
22 / A, Plot –
166, Pradhikaran, Nigdi Pune – 411044, Maharashtra, India |
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Date of Birth/Age : |
13.07.1961 |
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Tel No.: |
91-9822479663 |
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Name : |
Mr. Sayyadnoor
Shaikh |
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Designation : |
Director |
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Address : |
26 / 148,
Pradhikaran, Nigdi Pune – 411044, Maharashtra, India |
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Date of Appointment : |
29.03.2000 |
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Name : |
Mr. Rajpal
Shispal Singh |
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Designation : |
Director |
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Address : |
Udham Nagar, Pimpri,
Pune- 411018, Maharashtra, India |
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Date of Appointment : |
28.03.2000 |
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Name : |
Mr. Raj Mohammad S Shaikh |
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Designation : |
Director |
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Address : |
Plot No. 148, Sector 26, Pradhikaran, Nigdi, Pune – 411 044,
Maharashtra, India |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of
Shareholders (as on 31.03.2006) |
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No. of Shares |
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Fakirbhai Azam
Pansare |
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3500 |
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Sayyadnoor Shaikh
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7000 |
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Total |
10500 |
Equity Shares Breakup (Percentage of Total Equity): (as on 31.03.2006):-
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Sr No. |
Category |
Percentage |
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1 |
Directors or relative of directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of
all types of Press Components |
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Products : |
Press Components |
GENERAL
INFORMATION
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No. of Employees : |
20 |
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Bankers : |
v
ICICI Bank v
Bank of
India, Pimpri Branch, Pune – 411 018, Maharashtra, India |
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Facilities : |
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Banking Relations : |
Satisfactory |
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Auditors : |
U. S. Khare Chartered
Accountants Shri Swami Samarth
Krupa Society, Shridharnagar, Dhankwadi, Pune – 411043, Maharashtra, India |
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Tel. No.: |
91-20-24373796 |
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E-Mail : |
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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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50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10500 |
Equity Shares |
Rs. 10/- each |
Rs. 0.105
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.105 |
0.105 |
0.105 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1.826 |
1.092 |
0.544 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.931 |
1.197 |
0.649 |
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LOAN FUNDS |
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1] Secured Loans |
1.102 |
1.899 |
0.000 |
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2] Unsecured Loans |
0.500 |
0.500 |
0.000 |
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TOTAL BORROWING |
1.602 |
2.399 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
3.533 |
3.596 |
0.649 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
5.725 |
4.891 |
1.371 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.563 |
0.150 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
13.145
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11.362 |
4.349 |
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Sundry Debtors |
1.925
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2.195 |
0.828 |
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Cash & Bank Balances |
0.018
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0.013 |
0.058 |
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Other Current Assets |
2.356
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2.125 |
0.042 |
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Loans & Advances |
0.032
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0.180 |
2.565 |
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Total
Current Assets |
17.476
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15.875 |
7.842 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
17.588
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13.648 |
8.570 |
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Provisions |
2.643
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3.672 |
0.000 |
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Total
Current Liabilities |
20.231
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17.320 |
8.570 |
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Net Current Assets |
[2.755]
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[1.445] |
(0.728) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.006 |
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TOTAL |
3.533 |
3.596 |
0.649 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
90.089 |
61.481 |
25.981 |
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Other Income |
0.000 |
0.000 |
0.000 |
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Total Income |
90.089 |
61.481 |
25.981 |
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Profit/(Loss) Before Tax |
0.816 |
0.839 |
0.314 |
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Provision for Taxation |
0.000 |
0.000 |
0.112 |
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Profit/(Loss) After Tax |
0.816 |
0.839 |
0.201 |
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Total Expenditure |
89.272 |
60.642 |
25.667 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
0.91
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1.36 |
0.77 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.91
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1.36 |
1.25 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.43
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4.01 |
3.41 |
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Return on Investment (ROI) (PBT/Networth) |
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0.42
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0.70 |
0.48 |
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Debt Equity Ratio (Total Liability/Networth) |
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11.31
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16.47 |
13.20 |
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Current Ratio (Current Asset/Current Liability) |
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0.86
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0.92 |
0.92 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8:-
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Corporation identity number or foreign company registrations number of
the company |
U2422PN2000PTC014679 |
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Name of the company |
FAB AUTO PARTS
PRIVATE LIMITED |
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Address |
J
407, MIDC, Bhosari, Pune – 411 019, Maharashtra, India |
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This Form is for |
Creation of Charge |
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Type of Charges |
· Book Debts · Movable Property · Floating Charge |
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Particular of the charge holder
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Bank of India Address Pimpri Branch, Pune – 411 018, Maharashtra, India E-Mail: iut@eth.net |
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Nature or description of the instrument creating charge |
Hypothecation cum loan agreement (Plant and Machinery, stocks and book
debts) Both the agreement constitute a single charge |
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Date of the instrument creating charge |
11.09.2007 |
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Amount Secure by the charge |
Rs. 24.075 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of Interest : At the rate 0.75% above the banks benchmark prime lending rate (BPLR) rising
or falling with a minimum 14.00% per annum with monthly rests. Terms of repayment: 72 EMIs of Rs. 0.338 commencing three months from the date of
disbursement Margin: · 25% against raw materials , finished goods · 25% against stores · 25% against goods in process · 35% against book debts outstanding of 2 or 3 months · 100% against book debts outstanding for more than 3 months to less than 6 months. Extent and operation
of the charge To cover the extent of fund based sanctioned limits of Banks Others All the present and future, book debts, outstanding, money receivables, claims, bills. Hypothecation of press machines of 500 tonnes, ERFURT power press with multipoint suspension. |
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Short particulars of the Property charged |
All tangible movable machineries and plants (both present an future) All tangible movable properties , assets and book debts
whatsoever nature of the company
(both present and future , all stock of raw materials such as CR HR Steel,
Sheets of metal and finished goods Automotive Press Components and semi
finished goods , components including spares parts and stores relating to
plant and machinery both present and future and stock in process the company
situated at J – 150, MIDC, MIDC, Bhosari, Pune - 26 |
Fixed
Assets
v Office Equipments
v
Furniture and
Fixture
v
Computer
v
Plant and
Machinery
v
Office
Building
v
Car Indica
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.40.22 |
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UK Pound |
1 |
Rs.79.94 |
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Euro |
1 |
Rs.62.83 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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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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45 |
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 |
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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. |
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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