MIRA
INFORM REPORT
|
Report Date : |
1.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
AMAN MACHINE TOOLS PRIVATE LIMITED |
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Registered Office : |
G T Road, Mandi Gobindgarh, Fatehgarh Sahib, Punjab – 147301. |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
25.04.1991 |
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Com. Reg. No.: |
16-011304 |
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CIN No.: [Company
Identification No.] |
U39221PB1991PTC011304 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PTLA11689G |
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PAN No.: [Permanent
Account No.] |
AACCA4144L |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Manufacturer of Steel Rolling Mill Plants and EOT Cranes. |
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 55000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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. No complaints have been heard
from market sources. The company can be considered good for normal business dealings. |
LOCATIONS
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Registered Office : |
G T Road, Mandi Gobindgarh, Fatehgarh Sahib, Punjab – 147301, India. |
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Tel. No.: |
91-1765-255604 / 500100 / 257635 |
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Mobile No.: |
91-9876011775 / 9876011777 (Mr. B.D.Ghavri) |
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Fax No.: |
91-1765-255325 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Bhagwan Dass Ghavri |
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Designation : |
Director |
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Address : |
Shere Punjab House, Shastri Nagar, Mandi Gobindgarh – 147301, Punjab,
India. |
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Date of Birth/Age : |
08.07.1951 |
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Date of Appointment : |
25.04.1991 |
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Name : |
Mr. Prem Kumar Ghavri |
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Designation : |
Director |
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Address : |
H.No. 407, W.No.18,Shastri Nagar, Mandi Gobindgarh – 147301, District
Fatehgarh Sahib, Punjab, India. |
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Date of Birth/Age : |
23.03.1984 |
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Date of Appointment : |
25.04.1991 |
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Name : |
Mr. Rajinder Kumar Ghavri |
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Designation : |
Director |
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Address : |
Shere Punjab House, Shastri Nagar, Mandi Gobindgarh – 147301, Punjab,
India. |
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Date of Birth/Age : |
04.04.1960 |
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Date of Appointment : |
04.09.2000 |
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Name : |
Mr. Manish Kumar Ghavri |
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Designation : |
Director |
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Address : |
H.No. 407, W.No.18, Shastri Nagar, Mandi Gobindgarh – 147301, District
Fatehgarh Sahib, Punjab, India. |
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Date of Birth/Age : |
06.06.1966 |
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Date of Appointment : |
04.09.2000 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 29.09.2007
|
Names of Shareholders |
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No. of Shares |
|
Mr. Prem Kumar Ghavri (HUF) |
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182050 |
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Mr. Manish Kumar Ghavri |
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22200 |
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Mr. Prem Kumar Ghavri |
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59050 |
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Mr. Bhagwan Dass Ghavri |
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196100 |
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Mr. Rajinder Kumar Ghavri |
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3100 |
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Mr. Gobind Lal Ghavri (HUF) |
|
20000 |
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Mr. Sahil Ghavri |
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1600 |
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Total |
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484100 |
AS ON 31.03.2007
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
|
100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Steel Rolling Mill Plants and EOT Cranes. |
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Products : |
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GENERAL
INFORMATION
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Bankers : |
Oriental Bank of Commerce Moti Khan, Mandi Gobindgarh – 147301, Punjab, India. |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Datta Singla and Company Chartered Accountant |
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Address : |
Battan Lal Road, Battan Lal Mill Complex, Mandi Gobindgarh, Punjab –
147301, India. |
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Memberships : |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 31.03.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs. 10/- Each |
Rs.10.000
Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
484100 |
Equity Shares |
Rs. 10/- Each |
Rs.4.841 Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
4.841 |
4.841 |
4.841 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
6.232 |
2.681 |
1.344 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
(0.911) |
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NETWORTH |
11.073 |
7.522 |
5.274 |
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LOAN FUNDS |
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1] Secured Loans |
6.718 |
4.285 |
2.487 |
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2] Unsecured Loans |
0.213 |
1.966 |
3.674 |
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TOTAL BORROWING |
6.931 |
6.251 |
6.161 |
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DEFERRED TAX LIABILITIES |
0.327 |
0.448 |
0.527 |
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TOTAL |
18.331 |
14.221 |
11.962 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
7.158 |
6.620 |
5.743 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
2.000 |
5.558 |
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 |
12.930
|
10.754 |
11.884 |
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Sundry Debtors |
7.060
|
6.516 |
8.051 |
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Cash & Bank Balances |
7.122
|
2.389 |
7.323 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
28.228
|
15.644 |
9.125 |
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Total
Current Assets |
55.340
|
35.303 |
36.383 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
44.328
|
31.785 |
29.284 |
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Provisions |
1.839
|
1.475 |
0.880 |
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Total
Current Liabilities |
46.167
|
33.260 |
30.164 |
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Net Current Assets |
9.173
|
2.043 |
6.219 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
18.331 |
14.221 |
11.962 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Sales Turnover |
|
105.919 |
189.218 |
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Other Income |
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NA |
NA |
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Total Income |
|
105.919 |
189.218 |
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Profit/(Loss) Before Tax |
|
4.918 |
3.354 |
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Provision for Taxation |
|
0.030 |
2.017 |
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Profit/(Loss) After Tax |
|
4.888 |
1.337 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
4.61
|
0.70 |
- |
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Net Profit Margin (PBT/Sales) |
(%) |
4.64
|
1.77 |
- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
7.62
|
7.06 |
- |
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Return on Investment (ROI) (PBT/Networth) |
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0.44
|
0.44 |
- |
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Debt Equity Ratio (Total Liability/Networth) |
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4.79
|
5.25 |
6.88 |
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Current Ratio (Current Asset/Current Liability) |
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1.19
|
1.06 |
1.20 |
LOCAL AGENCY
FURTHER INFORMATION
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This form is for |
Modification of
charge |
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Charge
identification number of the modified
|
10015724 |
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Corporate
identity number of the company |
U39221PB1991PTC011304 |
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Name of the
company |
AMAN MACHINE TOOLS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
G T Road, Mandi Gobindgarh, Fatehgarh Sahib, Punjab – 147301,India. |
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Type of charge |
Immovable property Book debts Movable property |
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Particular of
charge holder |
Oriental Bank of Commerce Moti Khan, Mandi Gobindgarh – 147301, Punjab, India. EDP_PAT@OBC.CO.IN |
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Nature of
description of the instrument creating or modifying the charge |
1)
Agreement of
hypothecation of assets (Loan Doc -1) 2)
Agreement
for hypothecation of movable assets – lease agreements – hire purchase
agreements – hundies etc., to secure a cash credit overdraft account current
account (Loan – Doc 2) 3)
Agreement of
guarantee (Loan Doc.11) 4)
Letter of
arrangement 5)
Letter |
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Date of
instrument Creating the charge |
18.04.2008 |
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Amount secured by
the charge |
Rs.17.600
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of interest PLR-1.00 i.e
12.25% per annum as on monthly rests Terms of repayment On demand Margin Cash and credit –
25% on all kinds of stocks, receivables other than export receivable and
other current assets. Packing credit
limit – 25% on all kinds of stocks, receivables meant for export of
goods.(ECGC cover to be obtained) and other current assets. Post shipment
credit – N.A Extent and operation of the charge 100% Others Cash credit –
Rs.5.000 Millions Packing credit
limit – Rs.6.300 Millions Post shipment credit
– Rs. 6.300 Millions |
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Short particulars
of the property charged |
Hypothecation of
stocks of RM/WIP/FG, receivable including export receivables, documents of
title to goods covering export of goods (ECGC cover to be obtained) and other
current assets. Equitable mortgage of factory land and building of co.
measuring 2B-12b SITUATED AT g.t ROAD, Mgg. Equitable mortgage of Godown cum
shop measuring 5 biswas situated at 7, sec-20A, G.T.Road, near central bank
of India, MGG. Hypothecation of plant and machinery of the company. |
Financial
Performance
The company achieved turnover of Rs. 105.919 millions during the year
under review in comparison to the previous year of Rs. 189.218 millions earned a
net profit (before tax) of Rs. 4.918 millions, whereas there was a profit of
Rs. 3.354 millions during the previous year. After making the adjustment of
provision of tax and balance brought forward from the previous years,
accumulated profit of Rs. 4.888 millions were being placed under reserves and
surplus account balance sheet as at 31.03.2007.
AS PER WEB SITE
DETAILS
Company Profile
One of the most
trusted, reliable and reputed names in the Plants & Cranes manufacturing industry,
Subject is engaged in manufacture and export of Steel Rolling Mill Plants,
Shearing Machines and EOT Cranes. With an industry expertise of about two
decades, they are today in a commanding position to understand the market
dynamics and fulfill the changing needs of domestic and international
customers.
With an ardent determination to perform better among competitors, they produce
and export consistently right quality products conforming to ISO quality
standards and continually improve upon the manufacturing processes and work
environment through total employee involvement and strict adherence to fair
business ethics. They have also initiated steps to implement ISO 9002 quality
standards in their products and services.
Their Product
Their impressive
growth is a result of their in-depth cognizance and quick response to the
changing needs of the customer from time to time. They are successfully
operating all around the world and have established markets in India, Nepal,
Arab and Africa region. Range of their products includes:
- Roller Entry Guide
- Fly Wheel Assembly
- Gear Coupling
- Guide Boxes
- Mill Stands
- Reduction Gear Box
- Multiple Roller Entry Guide
- Roller Guides
- Pinch Rolls
- Billet Shearing Machine
- Section Straightening Machine
- Swivel Type Rotary Shear
- EOT Cranes
Currently, they are
engaged in the manufacture of Steel Re-Rolling Plants of various capacities
starting from 6" to 24". Besides manufacturing ferrous and
Non-ferrous Steel Rolling Mills, they are also capable of manufacturing machinery
for:
- Cement Plant
- Tube Mills
- Paper Mills
- Cold Rolling Mills
- Engineering Plants
Quality
They are a quality driven company with focus on total customer
satisfaction. Their prime commitment towards quality has resulted in being
certified as an ISO 9001 : 2000 standard manufacturer of Steel Rolling Mill
Plants and EOT Cranes. They have wisely invested in terms of man and money,
for maintaining the ultimate quality of all their products and services. Years
of experience in the business, dedication of their professional team and
careful selection of high grade, tested raw materials ensure that all their
products are of the highest quality.
Regular quality checks, thorough testing of products during each stage of
manufacturing - casting, machining or finishing is done. Microprocessor based
testing equipment is installed for testing of the composition, robustness and
tolerance level of plants and cranes. The results obtained are analyzed
regularly and these steps ensure that all their products are uniform in
hardness, depth, resistance level and robustness.
Thus, the
consistency of quality is maintained ensuring that their products meet the
stringent quality requirements of their valued customers. They are observing
and maintaining international standards of quality with regard to material,
workmanship, packaging and delivery.
Infrastructure
Man and Machine,
both complement each other when it comes to successful operation of any
manufacturing unit. They not only strike but also maintain the balance man and
machine and are continually producing engineering excellence. Their team of
highly experienced technical and non-technical professionals assures you of
best quality in all their processes of purchase, production and distribution.
Their highly diligent team members are responsible for designing, fabrication,
machining and assembly of the machines. All the facilities of testing and
inspection are available with us and they take utmost care for providing
quality materials. They have their in house designing unit which is well
equipped with latest CAD Enabled Computers and a sophisticated Drawing Section,
where their trained engineers take care of each and every drawing detail to
ensure exact manufacturing according to clients specifications
They have all the
pre-requisites to manufacture different types of machinery, with basic
facilities of Forging, Castings, Rolls and other inputs.
Their concerted efforts in the process of research and development have
resulted in production of machines of the highest quality at reasonable prices.
They find great pride in the fact that their machines have been highly
appreciated by customers from across the globe.
Their global
presence has tagged us as an International Steel Mill Specialist, with presence
not only in India but also in Nepal, United Arab Emirates, Kenya, Tanzania
and their pace steadily surging ahead
Their major concern
is to response to international markets’ demand with new grades of products
having unique properties, innovative supply chain management plans and long
term business partnerships.
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.49.84 |
|
UK Pound |
1 |
Rs.76.81 |
|
Euro |
1 |
Rs.64.38 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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 |
|
|
>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 |
|