MIRA
INFORM REPORT
|
Report Date : |
24.12.2008 |
IDENTIFICATION DETAILS
|
Name : |
HAFI ELEKTRA PRIVATE LIMITED |
|
|
|
|
Registered Office : |
2/A, Navdurga Society, Kaka Sohani path – Off. Veer Savarkar Marg, Ghantali,
Thane-400602, |
|
|
|
|
Country : |
|
|
|
|
|
Financial As On : |
31.03.2008 |
|
|
|
|
Date of Incorporation : |
08.04.1988 |
|
|
|
|
Com. Reg. No.: |
046935 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U46935MH1988PTC046935 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
PNEH04506F |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACH6853R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer, Trader, Exporter and Importer of Industrial Vacuum
Cleaner |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 18400 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track.Trade
relation are fair. Business is active. No complaints have been heared. The company can be considered good for normal business dealings. |
LOCATIONS
|
Registered Office : |
Dahake Building, Groung Floor, Opp. Godbole HSG Limited, M |
|
Website : |
|
|
|
|
|
Corporate Office : |
2/A, Navdurga Society, Kaka Sohanipath – Off. Veer Savarkar Marg,
Mumbai – 400602, |
|
Tel. No.: |
91-22-25406686 / 25400554 |
|
Fax No.: |
91-22-25423938 |
|
E-Mail : |
|
|
Website : |
http://www.hafielektra.net
http://www.hafielektra.com |
|
Area : |
600 sq. ft. |
|
Located : |
Rented |
|
|
|
|
Factory : |
J-341, MIDC, Bhosari, Pune – 411026, Maharashtra |
|
Tel. No.: |
91-20-27127915 |
|
Fax No.: |
91-20-66114439 |
|
Located : |
Owned |
|
|
|
|
Branches : |
91-11 – 27156380/27195326 SECUNDERABAD 91-40 - 27844620 91-265 – 2791126 91-771 – 2426211 91-657 – 270095 91-422 – 2511462/63 91-484 – 2371058 PUNE
91-20 – 5888921 91-80 - 56977646 |
DIRECTORS
|
Name : |
Mr. Anil Kulkarni |
|
Designation : |
Director |
|
Address : |
218, Anand Niwas, |
|
Date of Birth/Age : |
20.08.1944 |
|
Qualifications : |
B. Com |
|
Date of Appointment : |
08.04.1988 |
|
|
|
|
Name : |
Mrs. Aaruna Kulkarni |
|
Designation : |
Director |
|
Address : |
218, Anand Niwas, |
|
Date of Birth/Age : |
21.06.1951 |
|
Qualifications : |
B. SC |
|
Date of Appointment : |
12.08.1996 |
|
|
|
|
Name : |
Mr. Ramesh G. Kulkarni |
|
Designation : |
Director |
|
Address : |
Santoshm 30 A/2, |
|
Date of Birth/Age : |
27.09.1930 |
|
Date of Appointment : |
08.04.1988 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(As on 30.09.2004)
|
Names of Shareholders |
No. of Shares |
|
Mr. Anil Kulkarni |
2328 |
|
Mrs. Aaruna Kulkarni |
683 |
|
Mrs. Meena Kulkarni |
273 |
|
Mrs. Devyani Kulkarni |
633 |
|
Mr. Bharat J Kilkarni |
100 |
|
Mr. Amarjeet Kulkarni |
100 |
|
Mr. Gautam Kulkarni |
883 |
|
Total |
5000 |
(As on 31.03.20007)
|
Category |
Percentage |
|
Directors or relatives of directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Trader, Exporter and Importer of Industrial Vacuum Cleaner |
|
|
|
|
Products : |
·
Electrical Motors ·
Industrial Vacuum Cleaners ·
Automatic Wet and Dry Floor Cleaners ·
Oil Recycling Units ·
Dust Extractors ·
Scarifiers / Heavy Duty Floor
Scrubbers ·
Flux Recovery Unit ·
Mist Extractors ·
Centralized Vacuum Cleaning Systems. |
|
|
|
|
Exports : |
|
|
Products : |
All Products |
|
Countries : |
·
U.K ·
·
CIS ·
·
Philipines ·
Srilanka ·
·
·
·
U.A.E · |
|
|
|
|
Imports : |
|
|
Products : |
Sweeper |
|
Countries : |
|
GENERAL INFORMATION
|
Customers : |
·
Retailers ·
End Users |
|
|
|
|
No. of Employees : |
10 |
|
|
|
|
Bankers : |
State Bank of Thane Branch, |
|
|
|
|
Facilities : |
Secured Loan From State Bank Of Cash Credit of Rs.2.046 millions (secured by hypothecation of books debts and stock) |
|
|
|
|
Banking
Relations : |
- |
|
|
|
|
Auditors : |
|
|
Name : |
Sanghvi Outurkar and Kalekar Chartered Accountant |
|
Address : |
Thane |
|
|
|
|
Collaborators : |
·
Nuova Svamel (FLOOR) s.r.l. Manufacturing of Automatic Wet and Dry Scrubbers. ·
Darenth Equipments Manufacturing of Oil Recycling Machines. |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Share |
Rs.100/- each |
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000 |
Equity Share |
Rs.100/-
each |
Rs.0.500
Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
1] Share Capital |
0.500 |
0.500 |
|
|
2] Share Application Money |
0.100 |
0.100 |
|
|
3] Reserves & Surplus |
3.081 |
3.032 |
|
|
4] (Accumulated Losses) |
0.000 |
.0000 |
|
|
NETWORTH |
3.681 |
3.632 |
|
|
LOAN FUNDS |
|
|
|
|
1] Secured Loans |
2.046 |
3.359 |
|
|
2] Unsecured Loans |
1.704 |
1.480 |
|
|
TOTAL BORROWING |
3.750 |
4.839 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL |
7.431 |
8.471 |
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4.090 |
4.320 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
|
|
|
|
|
|
|
INVESTMENT |
0.040 |
0.040 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
Inventories |
2.655 |
3.281 |
|
|
Sundry Debtors |
1.821 |
2.878 |
|
|
Cash & Bank Balances |
0.250 |
0.089 |
|
|
Other Current Assets |
0.054 |
0.063 |
|
|
Loans & Advances |
0.683 |
0.388 |
|
Total
Current Assets |
5.463 |
6.699 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
Current Liabilities |
2.104 |
2.536 |
|
|
Provisions |
0.058 |
0.052 |
|
Total
Current Liabilities |
2.162 |
2.588 |
|
|
Net Current Assets |
3.301 |
4.111 |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL |
7.431 |
8.471 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
|
|
Sales Turnover |
13.484 |
11.719 |
|
|
Other Income |
0.193 |
0.165 |
|
|
Total Income |
13.677 |
11.884 |
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
N.A. |
N.A. |
|
|
Provision for Taxation |
N.A. |
N.A. |
|
|
Profit/(Loss) After Tax |
N.A. |
N.A. |
|
|
|
|
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
Manufacturing Expenses |
7.727 |
8.817 |
|
|
Increase/(Decrease) in Finished Goods |
1.870 |
2.523 |
|
|
Interest |
0.409 |
0.366 |
|
|
Other Expenditure |
2.533 |
1.991 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
-- |
-- |
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
-- |
-- |
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
-- |
-- |
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
-- |
-- |
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.60 |
2.04 |
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.53 |
2.59 |
LOCAL AGENCY FURTHER INFORMATION
Trade Reference:
·
Praga Tool,
·
Siemens,
·
Owen Corning, Talvoja
As per website
Profile:
Hafi elektra was promoted as a manufacturing division and
converted into corporate entity Hafi elektra Private Limited on 1st July 1988.
Subject was commissioned with the aim of manufacturing Suction Unit required
for Textile Industry. The design was obtained from 'Hans Fisher' Gmbh, a
renowned West German Company. The word 'Hafi' was derived from the first two
letters of each word from Hans Fischer wand the word 'Hafi' became synonymous
with Vacuum Cleaners for the Textile Industry.
They strive to provide superior cleaning and maintenance solutions adding value
beyond the expectations of the customer and achieve excellence through a
trained motivated and committed team. They are the Manufacturers of:
·
Industrial Vacuum Cleaners
·
Automatic Wet and Dry Floor Cleaners
·
Oil Recycling Units
·
Dust Extractors
·
Scarifiers / Heavy Duty Floor Scrubbers
·
Flux Recovery Unit
·
Mist Extractors
·
Centralized Vacuum Cleaning
Systems.
They have grown added new lines and entered into new ventures over past two
decades. They have successfully worked as an Import - substitute for Industrial
Cleaning Machines in India.They have incorporated German and Italian technology
by collaboration with :
Nuova Svamel (FLOOR) s.r.l. Italy for manufacturing of Automatic Wet and Dry
Scrubbers.
Darenth Equipments Ltd.,
They manufacture their selves Rotary Vane Pumps and Multi stage Blowers
required for the Vacuum Cleaners. They have supplied machines as per the
customer's need and their specifications for the turnkey projects, as the
underlined motto of their company is to not just to sell machines but cleaning
solutions.
They have exported various units to U.K,
CHNICAL
DATA
CMT
REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.48349 |
|
|
1 |
Rs.71.89 |
|
Euro |
1 |
Rs.67.86 |
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 |
YES |
|
--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 |
|