MIRA
INFORM REPORT
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Report Date : |
05.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
M M M BUXABHOY AND COMPANY |
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Registered Office : |
140, Sarang Street, 1st Floor, Mumbai – 400 003,
Maharashtra. |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1979 |
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IEC No.: |
0394053150 |
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Legal Form : |
Partnership concern with an unlimited liability of the company |
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Line of Business : |
Dealer and Exporter of Packaging Machines. |
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 4360 |
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Status : |
Small Concern |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern in its field. Trade relations
are fair. Scale of activity is limited. No complaints have been heard from
market sources. The concern can be considered for small to mediocre business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr.Yusuf Mamoowala |
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Designation : |
Partner |
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Contact No.: |
91-9867043821 |
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Date : |
02.12.2008 |
LOCATIONS
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Registered Office : |
140, Sarang Street, 1st Floor, Mumbai – 400 003,
Maharashtra, India. |
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Tel. No.: |
91-22-23442902 |
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Mobile No.: |
91-9867043821 (Mr.Yusuf Mamoowala) |
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Fax No.: |
91-22-23425230 |
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E-Mail : |
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Website : |
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Area : |
400 Sq.ft. |
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Location : |
Rented |
PARTNERS
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Name : |
Mr.Yusuf Mamoowala |
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Designation : |
Partner |
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Date of Birth/Age : |
43 Years |
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Qualification : |
BE - Electrical |
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Name : |
Mr.Abdul H.D. Mamoowala |
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Designation : |
Partner |
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Date of Birth/Age : |
78 Years |
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Qualification : |
Inter Arts |
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Name : |
Mr.Taiyyab H.A. Mamoowala |
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Designation : |
Partner |
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Date of Birth/Age : |
75 Years |
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Qualification : |
Matric |
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Name : |
Mr.Shabbir H.A. Mamoowala |
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Designation : |
Partner |
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Date of Birth/Age : |
65 Years |
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Qualification : |
Inter Science |
BUSINESS DETAILS
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Line of Business : |
Dealer and Exporter of Packaging Machines. |
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Products : |
Ø Aerated Water
Machines and Accessories Ø Bottle Closing
Machines and Equipment Ø Automatic
Filling Lines |
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Exports : |
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Countries : |
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Terms : |
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Selling : |
Advance |
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Purchasing : |
On credit upto 30 days basis |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
Around 6 |
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Bankers : |
Bank of Baroda, Crawford Market. |
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Facilities : |
The concern does not enjoy any facilities from its bankers |
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Banking
Relations : |
-- |
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Auditors : |
M/s.Vyas and Joshi |
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Chartered Accountant |
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Address : |
Kalbadevi |
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Associates/Subsidiaries : |
ACF Engineers Private Limited Vasai Road (East) Activity: Manufacturer of Packaging Machines |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs.1.500 Millions (estimated) |
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Borrowed : |
-- |
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Total : |
Rs.1.500 Millions (estimated) |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.872 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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0.872 |
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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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0.000 |
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TOTAL BORROWING |
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0.000 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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0.872 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.236 |
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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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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
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Sundry Debtors |
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0.141 |
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Cash & Bank Balances |
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0.177 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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1.014 |
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Total
Current Assets |
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1.332 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.661 |
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Provisions |
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0.035 |
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Total
Current Liabilities |
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0.696 |
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Net Current Assets |
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0.636 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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0.872 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2008 |
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Sales Turnover |
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8.226 |
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Other Income |
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0.033 |
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Total Income |
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8.229 |
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Net Profit for the Year |
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0.082 |
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Expenditures : |
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Cost of Goods Sold |
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6.489 |
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Scooter Expense |
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0.001 |
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Administrative Expenses |
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0.095 |
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Bank Charges |
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0.002 |
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Computer Maintenance |
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0.004 |
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Conveyance |
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0.023 |
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Coolies and Cartage |
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0.015 |
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Electricity Charges |
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0.042 |
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Depreciation |
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0.051 |
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Miscellaneous |
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0.051 |
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Packing Charges |
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0.047 |
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Donation |
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0.001 |
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Export Packing |
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0.005 |
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Export Coolie and Cartage |
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0.001 |
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Export Cleary and Forwarding |
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0.005 |
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Export Courier |
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0.001 |
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Repair and Maintenance |
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0.002 |
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Partner’s Remuneration |
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0.360 |
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Postage |
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0.027 |
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Printing and Stationery |
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0.037 |
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Professional and Legal Fees |
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0.021 |
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Other Expenditure |
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0.620 |
KEY RATIOS
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PARTICULARS |
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31.03.2008 |
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PAT / Total Income |
(%) |
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0.9 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.9 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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5.2 |
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Return on Investment (ROI) (PBT/Networth) |
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0.1 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.8 |
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Current Ratio (Current Asset/Current Liability) |
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1.9 |
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCES:
Ø
Mahendra Sales Corporation – Hyderabad
Ø
Ruha Chemicals - Mumbai
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Additional
Requirement of Indiamart for Trust-Seal |
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VAT / TIN : 27170017169 |
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IEC Code : 0394053150 |
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PAN / TAN : AACFM0148B |
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Bank Name : Bank of Baroda |
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Bank Address : Crawford Market |
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Bank A/c. No.: 03920200000641 |
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Account Since : 29 Years |
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Website Details Attached:
Incepted in the year 1962,concern
emerged as the prominent exporters and traders of qualitative range of
packaging machines and aerated beverage equipment. Under the able guidance of
concern mentor Mr. Yusuf Mamoowala, They have
created benchmark of brilliance in the industry. His years of industrial
experience in the field if packaging machines has enabled us to conduct
business on ethical grounds and helped us carved a niche in this competitive
market.
With the help of concern deligent team members they have been able to offer concern
clients with super quality crown corking machines, vial cap sealers,
drum sealers, bottle sealers including liquid, paste fillers and sealers for
glass, plastic, metal containers many other machines and equipment.
Further, they also offer installation
service for concern aerated beverage
machinery and allied equipment and so far they
have completed more than 1000 installations in India and abroad.
They are very intimately linked with
large number of food processors and re-packers to fulfill concern clients
requirement related to packaging and filling equipment. In addition, they also have the ability to provide customized
solutions for concern gamut of filling and capping / sealing machines.
Product Portfolio:
They offer comprehensive range
of packaging machines and aerated beverage equipment which are used in various
sectors. The entire gamut is available in different specification and
configurations and is acknowledged for their durability and high performance.
Concern range of packaging machines is categorized as Packaging Machines, Filling Machines, Packaging Equipment, Filling
Equipment, Aerated Water Machinery and Accessories, Bottle Closing Machines and
Equipment and Automatic Filling Lines.
Concern range of aerated water machinery & accessories comprises soda water
filling machinery with carbonator tank, bottle brushing unit, bottle washing
machinery and others. In Concern range
of bottle closing machinery and equipment they
offer crown corking machinery hand operated, crown corking machinery,
pneumatically operated crown corking machinery and others. They also offer
liquid filling and sealing machine and tube filling and sealing machinery that
comes under the category of automatic filling lines
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.79 |
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UK Pound |
1 |
Rs.73.37 |
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Euro |
1 |
Rs.63.08 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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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 |
YES |
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--AFFILIATION |
YES/NO |
YES |
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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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36 |
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
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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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