MIRA
INFORM REPORT
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Report Date : |
01.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
GAJJAR COMPRESSORS PRIVATE LIMITED |
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Registered Office : |
Plot No. 5319, Phase – IV, B/H Windsor Limited, Opposite Ramol Police
Chokey, Vatva, Ahmedabad- 382442, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
11.03.1998 |
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Com. Reg. No.: |
04-33814 |
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CIN No.: [Company
Identification No.] |
U34107GJ1998PTC033814 |
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IEC No.: |
089904628 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMG02677D |
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PAN No.: [Permanent
Account No.] |
AAACG5564A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Air Compressors, Vaccum Pumps and Borewell Pumps |
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 2700 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Trade
relations are fair. Payments are usually correct and as per commitments.
Business is steady. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Umesh Gajjar |
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Designation : |
Manager |
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Contact No.: |
91-9426051482 |
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Date : |
25.06.2008 |
LOCATIONS
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Registered Office : |
Plot No. 5319, Phase – IV, B/H Windsor Limited, Opposite Ramol Police
Chokey, Vatva, Ahmedabad- 382442, Gujarat, India |
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Tel. No.: |
91-79-32921948/ 25841400/ 22761530 |
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Mobile No.: |
91-9825039593 |
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Fax No.: |
91-79-22761530 |
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E-Mail : |
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Area : |
1000 yards ( Owned) |
DIRECTORS
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Name : |
Mr. Ajay Shantilal Gajjar |
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Designation : |
Director |
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Address : |
19, Gokul Park Society, Near Gor Na Kuva, Kans Bus Stant, Ghodasar,
Maninagar-380008, Ahmedabad, Gujarat, India |
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Date of Birth/Age : |
31.08.1961 |
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Qualification : |
Bsc |
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Date of Appointment : |
21.03.2007 |
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Name : |
Mr. Bharti Ajay Gajjar |
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Designation : |
Director |
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Address : |
19, Gokulpark, Khokhra, Ahmedabad-380026, Gujarat, India |
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Date of Birth/Age : |
15.11.1966 |
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Qualification : |
B.com |
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Date of Appointment : |
11.03.1998 |
KEY EXECUTIVES
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Name : |
Mr. Umesh Gajjar |
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Designation : |
Manager |
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Mobile No.: |
91-9426051482 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2005
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Names of Shareholders |
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No. of Shares |
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Ajay Shantilal Gajjar |
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4750 |
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Bharti Ajay Gajjar |
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4750 |
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Manganbhai Bakrania |
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500 |
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Total |
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10000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2007
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Air Compressors, Vaccum Pumps and Borewell Pumps |
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Products : |
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Exports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
Credit ( 30-60 Days) |
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Purchasing : |
Credit ( 15 Days) |
GENERAL
INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
3 |
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Bankers : |
Wholesalers and End Users
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Sunil Kothari and Company Chartered Accountants |
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Address : |
B-231, Shree Ghantakarna Mahavir Commercial Market, Near New Cloth
Market, Sarangpur, Ahmendabad-380002, Gujarat, India |
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Tel. No.: |
91-79-22123968 |
CAPITAL STRUCTURE
As on 26.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/-
each |
Rs. 0.100
Million |
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 |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.442 |
0.322 |
0.215 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
0.542 |
0.422 |
0.315 |
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LOAN FUNDS |
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1] Secured Loans |
0.436 |
0.080 |
0.319 |
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2] Unsecured Loans |
1.818 |
1.803 |
1.503 |
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TOTAL BORROWING |
2.254 |
1.883 |
1.822 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
2.796 |
2.305 |
2.137 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.963 |
0.555 |
0.561 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
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 |
1.826
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2.176 |
2.416 |
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Sundry Debtors |
2.032
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1.652 |
2.220 |
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Cash & Bank Balances |
0.672
|
0.095 |
0.098 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
0.224
|
0.147 |
0.111 |
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Total
Current Assets |
4.754
|
4.070 |
4.845 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
2.836
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2.272 |
3.212 |
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Provisions |
0.086
|
0.050 |
0.060 |
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Total
Current Liabilities |
2.922
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2.322 |
3.272 |
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Net Current Assets |
1.832
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1.748 |
1.573 |
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MISCELLANEOUS EXPENSES |
0.001 |
0.002 |
0.003 |
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TOTAL |
2.796 |
2.305 |
2.137 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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10.042 |
10.663 |
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Other Income |
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0.109 |
0.000 |
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Total Income |
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10.151 |
10.663 |
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Profit/(Loss) Before Tax |
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0.224 |
0.160 |
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Provision for Taxation |
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0.104 |
0.053 |
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Profit/(Loss) After Tax |
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0.120 |
0.107 |
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Earnings in Foreign Currency : |
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FOB Value |
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0.986 |
2.731 |
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Expenditures : |
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Manufacturing Expenses |
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0.195 |
0.171 |
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Administrative Expenses |
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1.403 |
1.627 |
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Raw Material Consumed |
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7.327 |
7.203 |
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Personnel Expenses |
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0.602 |
1.073 |
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Financial Charges |
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0.037 |
0.043 |
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Increase/(Decrease) in Finished Goods |
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0.220 |
0.290 |
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Depreciation & Amortization |
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0.143 |
0.096 |
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Total Expenditure |
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9.927 |
10.503 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
1.18
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1.00 |
N.A |
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Net Profit Margin (PBT/Sales) |
(%) |
2.23
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1.50 |
N.A |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.92
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3.46 |
N.A |
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Return on Investment (ROI) (PBT/Networth) |
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0.41
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0.37 |
N.A |
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Debt Equity Ratio (Total Liability/Networth) |
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9.54
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9.96 |
16.17 |
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Current Ratio (Current Asset/Current Liability) |
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1.63
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1.75 |
1.48 |
LOCAL AGENCY
FURTHER INFORMATION
Trustseal Acceptance Chart
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Parameters |
Details |
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Statutory Approvals |
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Income Tax Registration |
AAACG5564A |
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VAT/TIN Registration |
24072300829 |
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Import Export Code |
089904628 |
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Name of Bank |
ICICI Bank State Bank of Hyderabad |
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Current Account Number |
62405031606 / 62017050350 |
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Account Since |
+ 3 Years |
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Credibility Factors |
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IndiaMART client Since |
+4 Years |
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Standard and Certification |
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Quality Management Systems |
ISO 9001:2000 |
Bankers Charges
Report as per Registry
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Name of the company |
GAJJAR COMPRESSORS PRIVATE LIMITED |
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Presented By |
Mr. Ajaybhai
Shantilal Gajjar |
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1) Date and description of instrument creating the change |
DPN and Agreement
of Hypothecation of Goods of the Company dated 16.02.2000 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 0.200
Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Cash Credit
against Goods of the company repayable on demaric |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Bank rate subject
to minimum of 12.75% of rate as may be fixed by bank borrower, Interest
chargeable. Quarterly on
daily products basic, payable on demand |
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5) Name and Address and description of the person entitled to the charge. |
Central Bank of
India, Gomtipur Branch |
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6) Date and brief description of instrument modifying the charge |
Not Applicable |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U34107GJ1998PTC033814 |
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Name of the
company |
GAJJAR COMPRESSORS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
Plot No. 5319, Phase – IV, B/H Windsor Limited, Opposite Ramol Police Chokey,
Vatva, Ahmedabad- 382442, Gujarat |
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Type of charge |
Book Debts Movable Property |
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Particular of
charge holder |
State Bank of
Hyderabad, Maninagar Branch, Maninagar-380008, Ahmedabad, Gujarat, India |
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Nature of
description of the instrument creating or modifying the charge |
Agreement for
Hypothecation of goods, machineries, book-debts and other assets. |
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Date of
instrument Creating the charge |
08.02.2008 |
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Amount secured by
the charge |
Rs. 1.500
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 13% Terms of
Repayment One year from the
date of sanction. Bank interest and charges are to be paid immediately. Margin Stock – 25% Receivables – 50% Extent and
Operation of the charge First and
Exclusive Charge on all the assets of the company. Others Personal
Guarantee of both directors i.e. Ajay Gajjar and Bhartiben Gajjar as
Collateral Security |
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Short particulars
of the property charged |
Hypothecation of
goods, stocks, work-in-progree, Finished Goods, Raw material created out of
Bank Finance and Receivables upto 60 days old. |
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.42.95 |
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UK Pound |
1 |
Rs.85.62 |
|
Euro |
1 |
Rs.67.81 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
YES |
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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 |
|
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 |
|