MIRA
INFORM REPORT
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Report Date : 17.07.2008 |
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IDENTIFICATION
DETAILS
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Name : |
MICROPARTICLE ENGINEERS PRIVATE LIMITED |
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Registered Office : |
15, Kuppair Street, Kondithopu, Chennai-600108, Tamil Nadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
13.01.1992 |
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Com. Reg. No.: |
18-021999 |
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CIN No.: [Company
Identification No.] |
U29130TN1992PTC021999 |
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PAN No. |
AACCM9332L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Blender,
Mixing, Equipments for Painting Industry |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a 20 years old company having moderate track. Its network
has been eroded. Payments are reported as slow and delayed. The company can be considered for any business dealings on fully safe and
secured terms only. |
INFORMATION PARTED
BY
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Name : |
Mr. Faranch |
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Designation : |
Account Manager |
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Date : |
07.07.2008 |
LOCATIONS
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Registered Office : |
15, Kuppair Street, Kondithopu, Chennai-600108, Tamil Nadu, India |
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Tel. No.: |
91-44-26427972/26650423/26252019 |
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Mobile No.: |
91-9841091929 |
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Fax No.: |
91-44-43548949/28193068 |
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E-Mail : |
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Location: |
Owned |
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Registered Office: |
298, 4th Floor, Fountain Plaza, Panthoom Road, Egmore,
Chennai-600008, Tamil Nadu, India |
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Tel. No.: |
91-44-28263068 |
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Location : |
Owned |
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Factory 1: |
S P118,19 Phase, 3rd Main Road, Ambtur Industrial Estate
Chennai-600058, Tamil Nadu , India |
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Factory 2 |
Shed No. 150 Trivalisai Industrial Estate Chennai-600058, Tamil Nadu,
India |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. S Sounder |
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Designation : |
Director |
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Address : |
No.38, 1st Street, Secretariat Colony, Kellys,
Chennai-600010, Tamil Nadu India |
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Date of Birth/Age : |
54 years |
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Qualification : |
B.F.E |
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Date of Appointment : |
13.01.1992 |
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Name : |
Mrs S Vasanthakumari |
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Designation : |
Director |
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Address : |
35/36, 1st Street, Secretariat Colony, Chennai-600010,
Tamil Nadu, India |
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Date of Birth/Age : |
27.05.1957 |
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Qualification : |
B.F.E |
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Date of Appointment : |
28.12.2006 |
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Name : |
Mr. Siddharthan |
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Designation : |
Director |
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Address : |
No .3, 6th Street, T.V.S Nagar Padi, Chennai-600050,
Tamilnadu, India |
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Date of Appointment : |
01.05.1998 |
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Name : |
Mr. Velayudam |
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Designation : |
Director |
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Address : |
No.15, Kuppiah Street, Sowcarpet, Chennai-600079, Tamil Nadu, India |
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Date of Appointment : |
01.05.1998 |
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Date of Ceasing: |
25.02.2003 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As On 29.09.2007)
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Names of Shareholders |
No. of Shares |
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Mr. S Soundar |
2050 |
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Mr. Senthamaraj Munusamy |
1500 |
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Mr. Chandrasekaran |
10 |
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Mrs. Vasantha kumari |
850 |
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Mr. Siddharthan |
1400 |
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Mr. Velayudam |
1250 |
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Mr. Sudaresan |
925 |
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Ms.Kasthuri Ammal |
950 |
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Mr. Ezhil |
900 |
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Ms. Sarala |
1000 |
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Ms. Rani Ammal |
950 |
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Ms. Pari |
1100 |
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Ms.Nilavoli |
925 |
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Mr. Vedhambiga |
1100 |
Equity Share Break up (as on 29.09.2007)
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Particulars |
Percentage |
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Directors or relatives of directors |
90.000 |
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Other top fifty share holders |
10.000 |
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Total |
100.000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Blender,
Mixing, Equipments for Painting Industry |
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Products : |
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Exports : |
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Products : |
Blender and Mixing Equipments |
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Countries : |
Mid East countries, UK, Europe |
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Terms : |
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Selling : |
Credit 50% Advance Order, 50% on dispatch |
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Purchasing : |
Credit (30 days/60 days/90 days) |
GENERAL
INFORMATION
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Suppliers : |
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Customers : |
Retailers: ·
Umesh Pencil Processors Private Limited ·
Itw India Limited ·
Essan India Limited ·
Paints And General Industries ·
Supercoat Paints Private Limited |
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No. of Employees : |
4 (Office), 8 (Factory) Total-12 |
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Bankers : |
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Auditors : |
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Name : |
Mr. P S Kamalakara Roa and Company (Chartered Accountant) |
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Address : |
77/19, C P Ramasamy Road, Shopping Complex, 2nd Floor,Alwarpet,
Chennai-600018, Tamil Nadu, India |
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Associates/Subsidiaries : |
Agitator, Chennai, Tamil Nadu |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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15000 |
Equity Shares |
Rs.100/- each |
Rs.1.500 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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14900 |
Equity Shares |
Rs.100/-
each |
Rs.1.490
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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14.000 |
Expected Sales (2008-09) Rs.20.000 millions
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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1.490 |
1.490 |
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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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0.000 |
0.000 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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1.490 |
1.490 |
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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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0.000 |
0.000 |
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TOTAL BORROWING |
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0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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1.490 |
1.490 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.621 |
0.649 |
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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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0.331 |
0.168 |
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Sundry Debtors |
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1.382 |
0.254 |
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Cash & Bank Balances |
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0.118 |
0.182 |
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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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0.231 |
0.035 |
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Total
Current Assets |
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2.062 |
0.639 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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3.391 |
1.992 |
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Provisions |
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0.010 |
0.017 |
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Total
Current Liabilities |
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3.401 |
2.009 |
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Net Current Assets |
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(1.339) |
(1.370) |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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Profit and Loss Account |
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2.208 |
2.211 |
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TOTAL |
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1.490 |
1.490 |
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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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10.430 |
8.678 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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10.430 |
8.678 |
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Profit/(Loss) Before Tax |
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0.013 |
0.030 |
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Provision for Taxation |
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0.010 |
0.017 |
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Profit/(Loss) After Tax |
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0.003 |
0.013 |
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Earnings in Foreign Currency : |
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Export Earnings |
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1.240 |
3.546 |
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Expenditures : |
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Depreciation & Amortization |
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0.028 |
0.030 |
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Other Expenditure |
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10.389 |
8.618 |
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Total Expenditure |
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10.417 |
8.648 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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0.029 |
0.150 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.125 |
0.346 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.630 |
4.690 |
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Return on Investment (ROI) (PBT/Networth) |
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(0.018) |
(0.042) |
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Debt Equity Ratio (Total Liability/Networth) |
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(4.737) |
(2.786) |
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Current Ratio (Current Asset/Current Liability) |
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0.606 |
0.318 |
LOCAL AGENCY
FURTHER INFORMATION
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Parameters |
Details |
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Existence Verification: |
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Name |
Microparticle Engineer Private Limited |
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Address: |
New No.35, First Street Secretariat Colony,
Keelys Kilpauk, Chennai-600108, Tamil Nadu, India |
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Statutory Approvals: |
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Income Tax Registration |
AACCM9332L |
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Central Sales Tax Registration |
615270-DT 02.03.1993 |
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VAT/TIN Registration |
33700440814 |
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Import Export Code |
0493006508 |
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Name of the Bank |
HSBC |
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Current Account Number |
138/119359/001 |
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Account Since |
2007 |
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Credibility Factors: |
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Indiamart Client Since |
5 years |
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Year of Establishment |
1986 |
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Standards and Certifications: |
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Quality Management System |
They have apply for it |
Trade References:
- Tecno Driver and Controls, Chennai
- Megno System, Chennai
- Satelie Metals, Mumbai
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals have
been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.17 |
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UK Pound |
1 |
Rs.86.46 |
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Euro |
1 |
Rs.68.68 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
1 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
---- |
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--CREDIT LINES |
1~10 |
---- |
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--MARGINS |
-5~5 |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
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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13 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history (10%) Market trend (10%) Operational size
(10%)
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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