MIRA
INFORM REPORT
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Report Date : |
20.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
MITTAL PRECISION AUTO COMPS PRIVATE LIMITED |
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Registered Office : |
S. No. 10, Plot No. 45-A, PCNTDA, NIGDI, Pune – 411 026, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
12.12.2006 |
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Com. Reg. No.: |
11-129322 |
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CIN No.: [Company
Identification No.] |
U34300PN2006PTC129322 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
Pnem11554e |
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PAN No.: [Permanent
Account No.] |
Aaecm8871a |
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Legal Form : |
Private Limited Liability Company
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Line of Business : |
Manufacturer and Exporter of Metal Sheets, Bumpers and Canopies. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USd 17000 |
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Status : |
New Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new company and had not commenced commercial
operations as per last available Financials of 31.03.2007. The management parted
general information but declined to part with Latest Financials. Trade
relations are fair. Payments are reported as slow but correct. The company can be considered for small to mediocre business dealings
with slight caution, initially. |
INFORMATION PARTED
BY
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Name : |
Mr. N R Yadav |
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Designation : |
Plant Manager |
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Date : |
19.08.2008 |
LOCATIONS
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Registered Office / Factory : |
S. No. 10, Plot No. 45-A, PCNTDA, NIGDI, Pune – 411 026, Maharashtra,
India |
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Tel. No.: |
91-20-27472524 / 66301930 |
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Mobile No.: |
91-9822056099 (Mr. Sunil Mittal) |
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Fax No.: |
91-20-27472524 |
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E-Mail : |
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Location: |
Owned |
DIRECTORS
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Name : |
Mr. Premchand Ramsarup Mittal |
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Designation : |
Director |
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Address : |
Plot No. 9, Sector No. 27 A, PCNDTA, NIGDI, Pune – 411 044,
Maharashtra, India |
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Date of Birth/Age : |
28.11.1946 |
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PAN No.: |
ABAPM3708g |
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Name : |
Mr. Arunkumar Premchand Mittal |
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Designation : |
Director |
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Address : |
Yash Bungalow , Plot No. 9, Sector 27-A, Pradhikaran, NIGDI, Pune –
411 044, Maharashtra, India |
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Date of Birth/Age : |
24.06.1972 |
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Mobile No.: |
91-9822022931 |
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Name : |
Mr. Sunil MIttal |
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Designation : |
Director |
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Date of Birth/Age : |
30 years |
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Mobile No.: |
91-9822056099 |
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Name : |
Mr. Anil Mittal |
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Designation : |
Director |
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Date of Birth/Age : |
34 years |
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Mobile No.: |
91-9822038829 |
KEY EXECUTIVES
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Name : |
Mr. N R Yadav |
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Designation : |
Plant Manager |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Mr. Premchand Ramsarup Mittal |
105000 |
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Mr. Arunkumar Premchand Mittal |
105000 |
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Mr. Anilkumar Premchand Mittal |
105000 |
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Mr. Sunil Premchan Mittal |
105000 |
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Total
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420000 |
Equity Share Breakup (Percentage of Total Equity):- [As on 31.03.2007]
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Category |
Percentage |
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Directors or relative of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Metal Sheets, Bumpers and Canopies. |
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Terms : |
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Selling : |
Credit |
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Purchasing : |
Credit |
GENERAL
INFORMATION
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Customers : |
Automobile Manufacturer |
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No. of Employees : |
72 |
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Bankers : |
· Small Industries Development Bank of India, Suryakiran Hotel Building, 1st Floor, C – 8, Mumbai – Pune Road, Chinchwad, Pune – 411 019, Maharashtra, India · HDFC Bank Limited, HDFC Bank Housesenapti Bapat Marg, Lower Parel (West), Mumbai – 400 013, Maharashtra, India |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
K L Bansal and Associates Chartered Accountants |
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Address : |
A -15, First Floor, Highway Towers, Mumbai-Pune Road, Chinchwad, Pune
– 411 019, Maharashtra, India |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
(As on
31.03.2007):-
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.500 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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70000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.700
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.700 |
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2] Share Application Money |
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2.700 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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[0.157] |
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NETWORTH |
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3.243 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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0.500 |
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TOTAL BORROWING |
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0.500 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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3.743 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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3.094 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.172 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.120 |
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Sundry Debtors |
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0.00 |
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Cash & Bank Balances |
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0.168 |
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Other Current Assets |
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0.469 |
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Loans & Advances |
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0.000 |
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Total
Current Assets |
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0.757 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.341 |
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Provisions |
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0.010 |
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Total
Current Liabilities |
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0.351 |
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Net Current Assets |
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0.406 |
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MISCELLANEOUS EXPENSES |
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0.071 |
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TOTAL |
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3.743 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
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Sales Turnover |
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0.000 |
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Other Income |
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0.000 |
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Total Income |
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0.000 |
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Profit/(Loss) Before Tax |
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[0.157] |
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Provision for Taxation |
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0.000 |
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Profit/(Loss) After Tax |
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[0.157] |
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Total Expenditure |
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0.157 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
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PAT / Total Income |
(%) |
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0.00 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.00 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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[3.90] |
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Return on Investment (ROI) (PBT/Networth) |
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[0.05] |
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Debt Equity Ratio (Total Liability/Networth) |
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0.26 |
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Current Ratio (Current Asset/Current Liability) |
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2.16 |
LOCAL AGENCY FURTHER
INFORMATION
FORM 8:-
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Corporate
identity number of the company |
U34300PN2006PTC129322 |
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Name of the
company |
MITTAL PRECISION
AUTO COMPS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
S. No. 10, Plot No. 45-A, PCNTDA, NIGDI, Pune – 411 026, Maharashtra,
India |
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This form is for |
Creation of
charge |
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Type of charge |
· Book Debts · Movable Property · Floating Charge |
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Particular of
charge holder |
CIN :
L65920MH1994PLC080618 HDFC Bank
Limited, Address: HDFC
Bank Housesenapti Bapat Marg, Lower Parel (West), Mumbai – 400 013,
Maharashtra, India E-Mail: RBBform8@hdfcbank.com |
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Nature of instrument
creating charge |
Letter of
hypothecation |
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Date of
instrument Creating the charge |
29.01.2008 |
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Amount secured by
the charge |
Rs. 14.800
millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest : Interest at the
rate as may be communicated by the Bank from to time Terms of Repayment : On Demand Margin : Company shall at
all times during the continuance of this security maintain the said debts of
a sufficient amount to provide the margin of security as may from time to
time advised by the bank. Extent and Operation of the charge : Hypothecation by
way of first charge on company’s stock book debts, etc to secure as a
continuing security. Others : Nil |
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Short Particulars
of the property charged |
Hypothecation by way first charge on (a) All the stock
in trade both present and future consisting of raw materials, finished goods,
good in process of manufacturing and other merchandise, fixed assets and
whatsoever being movable properties (b) All present
and future book debts. |
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 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.43.23 |
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UK Pound |
1 |
Rs.80.89 |
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Euro |
1 |
Rs.63.80 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
--- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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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27 |
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 |
|
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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