MIRA
INFORM REPORT
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Report Date : |
06.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
MIRANDA AUTOMATION PRIVATE
LIMITED |
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Registered Office : |
T – 4, Garden Colony, B. L. J. X. Road, Mahim [West], Mumbai 400016,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
19.03.2001 |
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Com. Reg. No.: |
131274 |
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CIN No.: [Company
Identification No.] |
U74210MH2001PTC131274 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMM14796F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of material handling system, bulk material
handling system etc. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 42000 |
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Status : |
Good |
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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 fine
track. Directors are reported as
experienced, resourceful and respectable.
Their trade relations are fair.
Financial position is good.
Payments are usually correct and as per commitments. The company can be considered good for any normal business dealings. |
LOCATIONS
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Registered Office : |
T – 4, Garden Colony, B. L. J. X. Road, Mahim [West], Mumbai 400016,
Maharashtra, India |
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Website : |
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Corporate Office : |
Plot No. W 344, MIDC, TTC Industrial Area, Rabale Village, Thane
Belapur Road, Navi Mumbai 400701, Maharashtra, India |
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Tel. No.: |
91-22-65135937 / 65135938 |
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Fax No.: |
91-22-27690128 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Albert Anthony Miranda |
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Designation : |
Director |
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Address : |
T – 4, Garden Colony, B. L. J. X. Road, Mahim [West], Mumbai 400016,
Maharashtra, India |
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Date of Birth/Age : |
15.11.1947 |
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Date of Appointment : |
19.03.2001 |
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Name : |
Mr. Mary Albert Miranda |
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Designation : |
Director |
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Address : |
T – 4, Garden Colony, B. L. J. X. Road, Mahim [West], Mumbai 400016,
Maharashtra, India |
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Date of Birth/Age : |
21.12.1953 |
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Date of Appointment : |
19.03.2001 |
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Name : |
Mr. Teresa S. Ferrao |
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Designation : |
Director |
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Address : |
Shetya Vado, Near St. Francis Xavir Convent, Pedem Mapusa, Goa |
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Date of Birth/Age : |
14.10.1942 |
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Date of Appointment : |
07.02.2002 |
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Name : |
Mr. Joel A. Miranda |
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Designation : |
Director |
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Address : |
T – 4, Garden Colony, ‘B’ wing, L. J. Road, 10th Lane,
Mahim, Mumbai 400016, Maharashtra, India |
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Date of Birth/Age : |
17.02.1985 |
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Date of Appointment : |
01.08.2003 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Albert A. Miranda |
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5000 |
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Mary Albert Miranda |
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5000 |
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Total |
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10000 |
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Equity Share
Break-up |
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Percentage of
Holding |
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Directors or relatives of the Directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of material handling system, bulk material
handling system etc. |
GENERAL
INFORMATION
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No. of Employees : |
80 |
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Bankers : |
Not Available |
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
K. N. Mehta and Associates Chartered Accountants |
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Address : |
23, Saraswati Sadan, 113, Keshavji Naik Road, Masjid Bunder [West]
Mumbai 400009, Maharashtra, India |
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 |
|
10000 |
Equity Shares |
Rs. 10/-
each |
Rs. 0.100
Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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10.441 |
6.051 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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10.541 |
6.151 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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4.918 |
5.097 |
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TOTAL BORROWING |
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4.918 |
5.097 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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15.459 |
11.248 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.826 |
1.759 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.775 |
6.445 |
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Sundry Debtors |
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22.447 |
30.389 |
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Cash & Bank Balances |
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0.679 |
0.233 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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5.940 |
5.145 |
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Total
Current Assets |
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29.841 |
42.212 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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15.746 |
31.331 |
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Provisions |
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1.462 |
1.400 |
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Total
Current Liabilities |
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17.208 |
32.731 |
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Net Current Assets |
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12.633 |
9.481 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.008 |
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TOTAL |
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15.459 |
11.248 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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20.000 |
12.000 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.09 |
6.14 |
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Current Ratio (Current Asset/Current Liability) |
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1.73 |
1.28 |
LOCAL AGENCY
FURTHER INFORMATION
AS PER WEBSITE
DETAILS:
PROFILE:
Subject is the creation of Mr. Albert A.
Miranda, an M. Tech (Chemical) from I.I. T., Mumbai. After gaining several years
of industrial experience from important multinational companies, Mr. Miranda
decided to serve the industry as an entrepreneur. The off-shot was “ Jet
Engineering Co. “ established in 1982, through which engineering services were
provided to the industry“. Miranda Engineering Private Limited was the next
milestone established in 1993, for serving the industry in the fields of
industrial automation & equipment manufacture. Miranda Engineering Private
Limited successfully carried out several innovative automation implementations.
To highlight the specialization gained in the field of industrial automation.
“Miranda Automation Private Limited” was established in April 2000. Today
Miranda Automation Private Limited is the flag ship of Miranda Group.
MAPL – Specialization
Subject has pioneered and specialized in
offering a one stop customized solution to customers in the fields of
industrial automation, bulk material handling, plc automation systems, process
equipment, plant utility equipment and energy conservation. Best industrial and
engineering practices are applied in all the projects.
MAPL Project Emphasis
Subject makes a critical emphasis in
adopting user friendliness, ease of maintenance, consistent quality output,
high productivity, best hygienic handling methods and maximum safety features
in all its projects.
MAPL – Customer Commitment
Subject is
committed to offer customers with a one stop customized solution in the fields
of industrial automation system, plc automation system, bulk material handling,
process equipment, plant utility equipment and energy conservation by
incorporating the best industrial and engineering practices, thereby generating
consistent quality output, high productivity, and best hygienic handling
methods coupled with user friendliness, ease of maintenance and maximum safety
features in all its projects.
Subject handles
all customer projects with utmost care by conducting a through process analysis
as a systematic case study. Thereafter process and instrumentation diagram,
equipment, specification, project costing, project scheduling, cost benefit
analysis and pay back periods are worked out. In all new cases, even a pilot
plant is built to ensure project features are met with. Even in all the
re-engineered projects, the same methodology is adopted to cause minimum plant
disruption.
Automation Vs
Mechanization
Mechanization
reduces human efforts and reduces manpower, but needs closer and complex human
supervision. If consistent and close supervision is not provided, costly
process errors will occur. Automation eliminates complex human supervision by
taking full control over the operations of the mechanized equipment and
provides a consistent and through process control through the well built process
program and the instrumentation built in the system. Automation eliminates
complex human supervision, human errors as well as consistent human training
due to staff turnover and retirement.
MAPL – Approach to
Automation
Subject advocates
plant automation as the only way to build consistent quality and hygiene into
the Product and achieve a high productive benefit too. Automation generates
reports on materials usage, process parameters, production rate and
productivity. Automation generates critical alarms during process change and
stoppages and even sends pages or SMS messages to the designated staff.
Automation uses robust PLC. (Programmable Logic Controller) and SCADA
(Supervisory Control and Data Acquisition) units along with the instrumentation.
Data acquired can be shared by SQLERP system and through DCS (Distributed
Computing Systems) staff can access the automation system, to view the process
and print report, from their own computer stations. PLC and SCADA systems
permit to expand a project, by adding new modules one by one any time with a
smooth project integration.
PLC are more
foolproof and robust than microprocessors. Microprocessors are tailor made for
an application, where as PLC are direct programmable devices. They can change
their application implementation at will, by changing the program code. This is
the reason, why a PLC system can be easily expanded to add several applications
in to a project, module by module any time.
MAPL & Food Industry A Special Note
Subject has
successfully implemented many of its innovative and pioneering automation
project in food industry especially in biscuit industry, because of the
excellent opportunity, need and support offered by this industry. Many if
these, implementation are the very creation of Miranda Automation Private
Limited and do not exist anywhere. This was possible to Miranda Automation
Private Limited because of its project working methodology-conducting
systematic project case study, pilot plant construction and detailed cost
benefit analysis. The projects were implemented at MAPL cost initially. Miranda
Automation Private Limited can successfully implement Automation in any
industry with this project working methodology.
MAPL PRODUCTS
A - Industrial Automation Products
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PLC & SCADA Automation |
PLC – Auto Bulk Handling |
PLC - Bulk Fat Handling |
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PLC - Bulk Liquid Glucose Handling |
PLC - Votated Fat Handling |
PLC - Dairy Butter Handling |
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PLC - Flour Handling |
PLC - Chemical Handling |
PLC – Liquid Handling |
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PLC – Water Dosing |
PLC - Sugar Handling |
PLC - Sponge Handling |
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PLC - HVO & Lecithin Handling |
PLC - HVO – Palmoline Handling |
PLC - Continuous Syrup Making |
B – Process Equipment
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R.O & D.M. Water Plant |
Chilled Water Plant |
Hot Water Generator |
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Bag & Trolley Tilter |
Dough Feeder |
Sigma Mixer, Planetary Mixer |
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Rapid Mixers |
Perl Mill, Ball Mill, Colloidal Mill |
Ribbon Blender, V- Blender |
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Sieving Machine / Sifter |
Fluidized Bed Direr |
Pneumatic Conveyor |
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Screw Conveyor, Belt Conveyor |
Bucket Elevator |
Metal Detector, Auto Rejector, Crater Water |
C- MAPL Services
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PLC & SCADA Training & Demo |
Project Consultancy |
Project Re- Engineering |
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Equipment Out Sourcing |
Equipment & Instrumentation Calibration |
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D-
MAPL Associate Services
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Environmental Engineering |
Captive Power Generation |
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E- Other Equipment
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Heat Exchangers, Pressure Vessel |
Silos, Storage Tanks, Trolleys |
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Testimonial
- Britannia Industries Limited, Mumbai India.
- Parle Products Ltd. Mumbai India.
- Shangrila Food Products Limited, Mumbai, India.
- Bunty Foods Pvt. Ltd. Ambernath, India.
- ShivShakti Processed Foods, New Mumbai, India
- G. P. Manglani Foods Pvt. Ltd. Bhavnagar, India
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Bulk Material
Handling Systems |
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Material Handling System |
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Sugar Pulverizer |
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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. 39.43 |
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UK Pound |
1 |
Rs. 77.74 |
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Euro |
1 |
Rs. 58.41 |
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 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
7 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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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56 |
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 |
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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 |
|
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 |
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<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 |
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