MIRA
INFORM REPORT
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Report Date : |
15.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
POLYBOND INDIA PRIVATE LIMITED |
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Registered Office : |
Rathi Chambers, 7, Deccan College Road, Pune – 411 006, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
05.08.1983 |
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Com. Reg. No.: |
11-30558 |
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CIN No.: [Company
Identification No.] |
U25199MH1983PTC030558 |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturers of Rubber Parts and Rubber Hoses. |
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 400000 |
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Status : |
Good |
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Payment Behaviour : |
Satisfactory |
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Litigation : |
Clear |
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Comments : |
Subject is a
well-established company having satisfactory track records. Available information
indicates high financial responsibility of the company. Trade relations are
fair. Payments are correct and as per commitments. The company can
be considered good for normal business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered
Office / Corporate Office: |
Rathi Chambers, 7, Deccan College Road, Pune – 411 006, Maharashtra,
India. |
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Tel. No.: |
91-20-30517201 / 26696820 |
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Fax No.: |
91-20-30517212 |
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E-Mail : |
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Website : |
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Area : |
3000 Sq.fts |
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Location : |
Owned by
Directors |
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Factory 1 : |
144/145, Alandi
Markal Road, Village Dhanore, Taluka Khed, Pune – 412 105, Maharashtra, India |
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Tel. No.: |
91-2135-302200 |
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Fax No.: |
91-2135-302386 |
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Area : |
34790 sq. mtrs |
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Location : |
Owned by Company |
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Factory 2 : |
1087, Pimple-Jagtap Road, Sanaswadi, Pune – 412 210, Maharashtra,
India |
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Tel. No.: |
91-2138-280995 |
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Fax No.: |
91-2138-280997 |
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Area : |
48000 Sq. fts. |
DIRECTORS
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Name : |
Mr. Madhusudan
Laxminarayan Rathi |
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Designation : |
Chairman |
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Address : |
B4, Abhi Manshree Society, Pashan Road, Pune – 411 008, Maharashtra,
India |
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Tel. No.: |
91-20-565 5705 (Res.) |
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Mobile No.: |
91-98220 23264 |
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Date of Birth/Age : |
13.08.1940 |
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Qualification : |
B. Sc. Pune University ; DME, C Wadia Institute , Pune |
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Experience : |
32 years as Industrialist Promoted the following industries: ·
Ratahin Transpower
Private Limited ·
Polybond
India Private Limited ·
Rathi
Engineering Works ·
Lovejoy
Finance Private Limited |
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Date of Appointment : |
30.07.1999 |
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E-Mail: |
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Training: |
Lovejoy Inc USA in Power transmission products |
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Occupation: |
Industrialist |
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Experience: |
32 years as Industrialist Promoted the following industries: ·
Ratahin
Transpower Private Limited ·
Polybond
India Private Limited ·
Rathi
Engineering Works ·
Lovejoy Finance
Private Limited |
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Award &
Honours: |
Rathi Transpower Private Limited was the first SSI to secure ISO
Certification. The company had
secured award for Export Excellence from Engineering Export Promotion Council
of India |
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Exports: |
Widely travelled and secured orders from the following countries: Australia/Singapore / New Zealand / Philippines / Malaysia / Indonesia
/ Dubai / Europe and USA |
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Other
Activities: |
Active Rotarian since 1972 and presently Vice-President of Rotary Club
of Poona Central Graduate of “The Quality College” Florida, USA |
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Name : |
Mr. Adit Madhusadan Rathi |
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Designation : |
Managing Director |
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Address : |
B4, Abhi Manshree Society, Pashan Road, Pune – 411008, Maharashtra,
India |
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Date of Birth/Age : |
10.09.1970 |
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Qualification : |
B.Sc and Mechanical Engineer |
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Date of Appointment : |
30.09.1996 |
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E-Mail: |
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Name : |
Mr. Arun Bhagwandas Toshniwal |
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Designation : |
Director |
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Address : |
16/4, Ishwar Bhavan, Churchgate, Mumbai – 400020, Maharashtra, India |
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Date of Birth/Age : |
29.08.1942 |
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Date of Appointment : |
30.07.1999 |
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Name : |
Mrs. Priyanka Adit
Rathi |
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Designation : |
Director |
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Address : |
B4, Abhi Manshree Society, Pashan Road, Pune – 411008, Maharashtra,
India |
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Date of Birth/Age : |
23.06.1972 |
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Date of Appointment : |
24.11.1997 |
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E-Mail: |
KEY EXECUTIVES
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Name : |
Mr. Ashok Safe |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Equity
Shareholders: |
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Mr. Sunderbai L Rathi |
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11367 |
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Mr. Adit Madhusudan Rathi |
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723942 |
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Mr. Preet Rathi |
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625 |
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Mr. Madhusudan Rathi (Preeti Rathi Trust) |
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201172 |
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Mr. Madhusudan L Rathi |
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433191 |
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Mrs. Prema M. Rathi |
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325671 |
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Mrs. Priyanka Aditi Rathi |
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55132 |
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Vorwerk Autotech GmbH |
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194000 |
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Total |
1945100 |
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Preference
Shareholders: |
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Mr. Madhusudan L Rathi |
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2225 |
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Mrs. Prema M. Rathi |
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1625 |
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Mr. Preet M. Rathi |
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525 |
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Mr. Adit M. Rathi |
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625 |
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Total
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5000 |
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Category (As on 31.03.2007) :- |
Percentage |
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Directors or relative of directors |
100.00 |
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Total |
100.00 |
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Names of
Allottees |
No. of Equity
Shares of Rs. 10/- each |
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Vorwerk Autotec
GmbH and Co Kg |
100000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Rubber Parts and Rubber Hoses. |
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Products : |
v
A V
Mountings v Rubber Products |
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Exports : |
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Countries : |
Australia,
Europe, USA, Gulf, UK, Germany (major Exports) |
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Imports : |
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Products: |
v Machinery v Raw Material v Chemicals |
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Countries : |
USA, Germany,
South Korea and Singapore |
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Terms : |
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Selling : |
Credit (30 days),
Order, L/C 120 days and for Local (45
days) |
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Purchasing : |
L/C [90 days] |
PRODUCTION STATUS
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Particulars |
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Installed
Capacity |
Actual
Production |
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A V Mounts |
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900000 |
1500000 |
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Pneumatic and
Electronic Gauges, Gauging fixtures and Accessories |
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2008001 |
4020815 |
GENERAL
INFORMATION
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Customers : |
OEM’s |
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No. of Employees : |
1250 (100 in Office and 1150 in Factory) |
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Bankers : |
State Bank of India,
Industrial Finance Branch, Tara Chambers, Wakdewadi, Pune – 411 003,
Maharashtra, India |
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Facilities : |
CC (Rs. 150.000 millions) |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name 1: |
Deekay and Company |
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Address : |
Chartered
Accountants |
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Tel. No.: |
1616, Sadashiv
Peth, Pune – 411 030, Maharashtra, India |
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Mobile No.: |
91-22-24338786 |
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Name 2 : |
Mr. Kirtan Pandit
Chartered
Accountants |
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Address : |
Pune – 411 030,
Maharashtra, India |
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Membership: |
v
Federation
of Indian Exports Organization v
Automotive
Components v
All India
Rubber Industrial Association v
Emerging
Presidents v
Indo-German
Chamber of Commerce v
Adv.
Manufacturing Services v
Asia Pacific
Tech. Monitor v
Confederation
of Indian Industries |
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Associates/Subsidiaries : |
v
Rathi
Transpower Private Limited v
Rathi
Engineering Works v
Lovejoy
Finance Private Limited v
Rathi
Polybond Pty Limited v
Polybond
Organics Private Limited |
CAPITAL STRUCTURE
(As on 31.03.2007):-
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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1940000 |
Equity Shares |
Rs. 10.00 each |
Rs. 19.400 Millions |
|
6000 |
Preference Shares |
Rs. 100.00 each |
Rs. 0.600 Million |
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Total |
Rs. 20.000 millions |
Issued, Subscribed
& Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1940000 |
Equity Shares |
Rs. 10.00 each |
Rs. 19.400 millions |
|
5000 |
Preference Shares |
Rs. 100.00 each |
Rs. 0.500 million |
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Total |
Rs. 19.900 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
19.900 |
23.524 |
18.900 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
58.597 |
76.780 |
68.681 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
78.497 |
100.304 |
87.581 |
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LOAN FUNDS |
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1] Secured Loans |
173.469 |
178.949 |
102.223 |
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2] Unsecured Loans |
27.071 |
18.539 |
9.427 |
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TOTAL BORROWING |
200.540 |
197.488 |
111.650 |
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DEFERRED TAX LIABILITIES |
30.731 |
0.000 |
0.000 |
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SHARE PREMIUM |
3.624 |
0.000 |
0.000 |
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TOTAL |
313.392 |
297.792 |
199.231 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
191.454 |
181.174 |
111.966 |
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Capital work-in-progress |
2.293 |
1.965 |
12.091 |
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INVESTMENT |
14.995 |
15.000 |
12.966 |
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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 |
61.260
|
51.460
|
26.322 |
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Sundry Debtors |
103.723
|
84.132
|
51.195 |
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Cash & Bank Balances |
10.607
|
4.230
|
10.385 |
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Other Current Assets |
0.000
|
2.703
|
4.187 |
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Loans & Advances |
23.363
|
15.279
|
13.155 |
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Total
Current Assets |
198.953
|
157.804
|
105.244 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
93.061
|
58.574
|
36.500 |
|
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Provisions |
2.072
|
0.511
|
6.536 |
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Total
Current Liabilities |
95.133
|
59.085
|
43.036 |
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Net Current Assets |
103.820
|
98.719
|
62.208 |
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MISCELLANEOUS EXPENSES |
0.830 |
0.934 |
0.000 |
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TOTAL |
313.392 |
297.792 |
199.231 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
559.463 |
364.867 |
320.993 |
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Other Income |
0.000 |
5.948 |
4.821 |
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Total Income |
559.463 |
370.815 |
325.814 |
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Profit/(Loss) Before Tax |
16.345 |
9.085 |
25.466 |
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Provision for Taxation |
0.000 |
5.880 |
8.967 |
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Profit/(Loss) After Tax |
16.345 |
3.205 |
16.499 |
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Export Value |
NA |
204.744 |
189.947 |
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Import Value |
NA |
48.012 |
26.563 |
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Expenditures : |
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Financial Charges |
9.996 |
8.426 |
5.343 |
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Increase/(Decrease) in Finished Goods |
25.819 |
(8.711) |
(2.808) |
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Other Expenditure |
507.303 |
362.015 |
297.813 |
|
Total Expenditure |
543.118 |
361.730 |
300.348 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
2.92
|
0.86
|
5.06 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.92
|
2.49
|
7.93 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.19
|
2.68
|
11.72 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.21
|
0.09
|
0.29 |
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Debt Equity Ratio (Total Liability/Networth) |
|
3.76
|
2.56
|
1.77 |
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Current Ratio (Current Asset/Current Liability) |
|
2.09
|
2.67
|
2.45 |
LOCAL AGENCY
FURTHER INFORMATION
FIXED ASSETS:-
v
Building
v
Lab Equipment
v
Computer
v
Plant and
Machinery
TRADE REFERENCES:
q
Aakar
Engineers
2892, B Ward, Jawahar Nagar, Kolhapur, Maharashtra, India
q
Vimal Spices
Vi/1300, Koshuklum Road, P O Box 167, Cochin 682 002, Kerala, India
q
Chemtall Rai
India Limited
ARN, Nimbalkar Nagar, P O Tashawade, Tal Mulshi, Dist. Pune – 411 003,
Maharashtra, India
q
Vimal Spices
Vi/1300, Koshuklum Road, P O Box 167, Cochin 682 002, Kerala, India
q
Industrial
Agencies
601-D, Neelkanth, 98 Marine Drive, Mumbai – 400 002, Maharashtra, India
q
Sah Petroleum
Limited
104, Punit Apartments, 526, Narayan Peth, Pune – 411 030, Maharashtra,
India
q
Avik Polychem
704, Jangli Maharaj Road, Opp. Modern High Road, Opp. Modern High
School, Shivajinagar, Pune – 411 005, Maharashtra, India
q
Valvo Motors
q
Tata motors
q
Mahender and
Mahender
FORM 8:-
|
Name of the company |
POLYBOND INDIA
PRIVATE LIMITED |
|
Presented By |
State Bank of
India, Industrial Finance Branch, Pune – 411 003. |
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1) Date and description of instrument creating the change |
01.11.2002 Deed of mortgage
by way of deposit of title deeds |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 5.00 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 |
Document of title
by way of deposit of title by way of deposit of title deeds, description
properly as below:- Schedule I:
refereed to above documents of title Land situated at
industrial Zone, Mouje Dhanore Sub division Khed (Rajgurunagar)
dist. Pune Registration No. 775/2002 registered at Sub Registrar Khed (Pune)
Gat No. 144- Out of 29450 Sq.Mtrs 9460 Sq.Mtrs Gat No. 145 out of 53400
Sq.mtrs 900 Sq.Mtrs Boundry : East :
Land owned by Shri Mula Gat NMo. 144/145 South : Land
owned by Shri Tapkir Gat No. 143 West : Internal
Road and Adjacent Rathi Transpower Private Limited Liability Company Limited North Alandi
Markal Road Deed of land
situated at Industrial Zone Mouje Dhanore Sub division Khed (Rajgurunagar)
Dist. Pune Registration No. 775
registered by sub registrar
khed gat No. 144-out of 29450 Sq.mts
1520 Sq.mtrs Gat No. 145 out of
Boundry east : Land owned by
shri Mula Gat No. 144/145 South : Land
owned by Shri tApkir Gat Transpower Private Limited North : Alandi
Markal Road, Land situated at industrial Zone Mouje Dhanore sub
division khed (Rajgurunagar) dist. Pune now owned by Poly Bond India Private Limited Gat no. 144-
out of 29450 Sq.mtrs 3910 Sq.mtrs Gat No. 145 Out of 5340 Sq.mtrs 900 Sq mtrs Boundry : East :Land owned by Shri Mula Gat No. 144/145 West : Internal
Road, and adjacent Rathi Transpower
Private Limited North : Alandi
Markal Road South : Land
owned by Shri Tapkir Gat No. 143 Extract of index
for the registration No. 775/776 Schedule II
referred to above description of
property i) Land situated at industrial Zone, Mouje
Dhanore Sub division khed (Rajgurunagar) Dist. Pune now owned by Polybond
India private Limited Gat No. 144- Out
of 29450 sq.mtrs 9460 Sq.mtrs Gat No. 145 out of 5340 Sq.mtrs 900 Sq.mtrs Gat No. : 144/145 South : Land
owned by Shri Mula Gat No. 143 West : Internal
Road and Adjacent Rathi North : Alandi
Markal Road Land situated at
industrial zone Mouje Dhanore , Sub division khed Rajgurunagar , dist , Pune
now owned by Polybond India Private Limited Gat No. 144- Out
of 29450 Sq.Mtrs Gat No. 145- Out
of 5340 Sq.Mtrs 900 Sq.Mtrs Gat No. 144/145 South: Land owned
by Shri Tapkir Gat No. 143. West : Internal
Road and adjacent Rathi Transpower Private Limited North : Alandi
Markal Road Land situated at
industrial Zone Mouje Dhanore , Sub
division Khed Rajgurunagar , dist. Pune now owned by Shri Mula Gat No.
144/145 South : Land
owned by Shri Tapkir Gat No. 143 West : Internal
Road and adjacent Rathi Transpower Private Limited , North: Alandi
Markal Road |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Additional
Security |
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of
India IFB, Tara
Chambers, Wakdewadi, Pune – 411 003 |
|
6) Date and brief description of instrument modifying the charge |
Letter dated
10.01.2005 from State Bank of India , IFB, Tara Chambers, Wakedewadi , Pune |
|
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. |
By the first
modification dated 11.08.2003 the amount increased from Rs. 5.000 millions to
Rs. 20.000 millions. Documents creating charge was draft recital for the
enhanced facilities. By this
modification the bank and company
would like to correct the typing errors in the documents creating charge i.e On page 2 of the
recital recorded by the bank in respect of memorandum of deposit of title deeds, the date of creation of
earlier mortgage has erroneously stated as 27.07.2002 instead of 01.11.2002 Other terms
remain unchanged. |
|
Corporate
identity number of the company |
U25199MH1983PTC030558 |
|
Name of the
company |
POLYBOND INDIA
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
Rathi Chambers,
7, Deccan College Road, Pune – 411 006, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
State Bank of
India Address:
Industrial Finance Branch, Tara Chambers, Wakedewadi , Pune – 411 003, Maharashtra,
India E-mail; sanjay.thombre@sbi.co.in |
|
Nature of
instrument creating charge |
Memorandum for
recording extension of mortgage deposit of title deeds covering enhanced limits
and / or creation of equitable mortgage on additional properties for existing
limits and enhanced limits and additional facilities. |
|
Date of
instrument Creating the charge |
04.06.2007 |
|
Amount secured by
the charge |
Rs. 233.300
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest : As per agreement
between bank and company Terms of Repayment : As per agreement
between bank and company Margin : As per agreement between
bank and company |
|
Particulars of
the present modification |
Mortgage by
deposit of title deeds and creation of equitable mortgage on additional
properties. |
WEBSITE DETAILS:-
Company Profile
Subject is manufacturer of rubber parts since 1978. Their facilities include:
Corporate Office
(Pune City) – 5000 sqft
Their Business Development, Finance and Administrations functions operate from
this office.
Plant I (Alandi) –
67000 sqft
This plant was started in 1990 and is located 25 km from Pune city. They now
run the following processes here
- Mixing (3 lines)
- Injection Moulding (upto 250 tons)
- Compression/Transfer Moulding (upto 800x800 mm)
- Hose extrusion
- Calendaring
- Phospating and metal preparation
- Zinc plating
Plant II
(Sanaswadi) – 48000 sqft
This plant was started in 2005 and operates as a 100% Export Plant. The
following processes are run here:
- Mixing (1 line)
- Injection Moulding (upto 250 tons)
- Metal preparation
Tool Engineering Division
(Alandi) – 6000 sqft
- CNC machining centre
- CNC lathe
- Wire-Cutting
- EDM
- Conventional machining
- Unigraphics CAM
Environment :-
They will endeavor
to manufacture products and impart services with an objective to protect the
environment and the safety and health of their employees and the public, by :-
Complying with all
environmental, safety and occupational health laws and regulations applicable
to their business and processes
Promoting the
conservation of resources and protection of the environment through waste
minimisation, effective waste management and the use of nonpolluting materials
and processes.
Making
environmental, safety and health considerations an integral part of their
planning for all existing and new products and processes.
Continuous
improvement activities in the environmental, safety, and health areas
Reporting promptly
to officials, employees, information on health or environmental hazards and to
recommend protective measures.
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. 42.82 |
|
UK Pound |
1 |
Rs. 84.89 |
|
Euro |
1 |
Rs. 68.07 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
63 |
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 |
|