MIRA
INFORM REPORT
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Report Date : |
17.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
MONIBA ANAND ELECTRICALS PRIVATE LIMITED |
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Registered Office : |
Plot No. 1, Near Raheja Vihar, off
Saki Vihar Road, Chandivalik, Andheri (East), Mumbai-400072,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
14.05.1986 |
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Com. Reg. No.: |
11-39819 |
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CIN No.: [Company
Identification No.] |
U29120MH1986PTC039819 |
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IEC No.: |
0389045764 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMM20535E |
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PAN No.: [Permanent
Account No.] |
AABCM8242Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter and Importer of Industrial Pumps. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 34000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Financial position of the company is moderate having accumulated
losses. Payments are reported as slow but correct. Trade relations are fair. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Rakesh Engineer |
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Designation : |
Director |
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Contact No.: |
91-9820046500 |
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Date : |
14.07.2008 |
LOCATIONS
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Registered Office/ Factory : |
Plot No. 1, Near Raheja Vihar, off
Saki Vihar Road, Chandivalik, Andheri (East), Mumbai-400072,
Maharashtra, India |
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Tel. No.: |
91-22-28571028/ 28576328/ 28573156/ 28571776/ 28576328/ 28572712 |
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Fax No.: |
91-22-28573135 |
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Mobile No.: |
91-9820046500/ 9820136047 |
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E-Mail : |
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Website : |
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Area : |
1200 sq. ft (Owned) |
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Factory : |
Located at:- Vasai |
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Area : |
7000 sq.ft. (Owned) |
DIRECTORS
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Name : |
Mr. Rakesh Bhogilal Engineer |
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Designation : |
Director |
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Address : |
B-52, Neha Apartments, Juhu, Tara Road, Santacurz, Mumbai-400056,
Maharashtra, India |
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Date of Birth/Age : |
01.10.1960 |
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Date of Appointment : |
01.10.1989 |
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Mobile No.: |
91-9820046500 |
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Name : |
Mr. Ronak Rakesh Engineer |
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Designation : |
Director |
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Address : |
B-52, Neha Apartments, Juhu, Tara Road, Santacurz, Mumbai-400056,
Maharashtra, India |
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Date of Birth/Age : |
15.07.1986 |
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Date of Appointment : |
23.02.2005 |
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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Rajesh B. Engineer |
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167800 |
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Bhogilal Hiralal Patel HUF |
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100 |
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Roank R. Engineer |
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50000 |
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Rakesh B. Engineer HUF |
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682000 |
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Ela C. Avlani |
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100 |
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Total |
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900000 |
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, Exporter and Importer of Industrial Pumps. |
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Products : |
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Imports : |
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Products : |
Pumps |
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Countries : |
Belgium |
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Terms : |
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Selling : |
Advance payment |
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Purchasing : |
Credit ( 30 Days) |
GENERAL
INFORMATION
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Customers : |
Retailers Luminaries
Hospitals
Hotels
Pharmaceuticals
Government
Organisations and Others
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No. of Employees : |
32 |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Raykundaliya and Associates Chartered Accountant |
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Address : |
7, Nanda Deep Tai Pingle Chowk, Near Sarvesh Hall, Acharya Tulsi Marg,
Dombivali (East), Thane-421201, Maharashtra, India |
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Parent Company : |
Waterman Industries Limited |
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Subsidiaries : |
Di-See Technology Private Limited, Daman |
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` |
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Associates: |
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CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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900000 |
Equity Shares |
Rs. 10/-
each |
Rs. 9.000
Millions |
FINANCIAL DATA
[all figures are in Rupees 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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9.000 |
9.000 |
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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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[2.144] |
[6.395] |
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NETWORTH |
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6.856 |
2.605 |
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LOAN FUNDS |
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1] Secured Loans |
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2.927 |
1.973 |
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2] Unsecured Loans |
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3.167 |
3.673 |
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TOTAL BORROWING |
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6.094 |
5.646 |
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DEFERRED TAX LIABILITIES |
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1.852 |
0.000 |
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TOTAL |
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14.802 |
8.251 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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10.020 |
1.827 |
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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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0.105 |
0.105 |
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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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4.722 |
4.338 |
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Sundry Debtors |
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3.741 |
4.236 |
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Cash & Bank Balances |
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0.725 |
0.292 |
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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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1.597 |
1.778 |
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Total
Current Assets |
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10.785 |
10.644 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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5.359 |
3.827 |
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Provisions |
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0.749 |
0.498 |
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Total
Current Liabilities |
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6.108 |
4.325 |
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Net Current Assets |
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4.677 |
6.319 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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14.802 |
8.251 |
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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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Debt Equity Ratio (Total Liability/Networth) |
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1.78 |
3.83 |
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Current Ratio (Current Asset/Current Liability) |
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7.77 |
2.46 |
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 |
AABCM8242Q |
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Central Sales Tax Registration |
400072 /C/ 3707W-E-F1-4-99 |
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VAT/ TIN Registration |
27050008117V |
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Import Export Code |
0389045764 |
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Name of Bank |
Bank of India |
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Current Account Number |
03820110000043 |
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Account Since |
20 Years |
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Credibility Factors |
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IndiaMART Client Since |
2 Years |
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Trade Affiliations |
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SSI Registration |
YES |
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Export Promotion Council |
NO |
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Chambers of Commerce Membership |
NO |
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Standards & Certifications |
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Quality Management Systems |
YES |
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Environment Management Systems |
YES |
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Safety Certificates |
NO |
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Product Certificates |
NO |
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Other Cerficates |
ISO 9001 : 2000 |
Trade References:
- Ispat Industries, Pen, Maharashtra
- Asian Paints, Ankleshwar
- BARC, Tarapur
Bankers Charges
Report as per Registry
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Name of the company |
MONIBA ANAND ELECTRICALS PRIVATE LIMITED |
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Presented By |
The North Kanara G.S. B. Co- Operative Bank Limited, Shree Niketan, Hindu
Friends Society, Road, Jogeshwari (East), Mumbai-400060, Maharashtra, India |
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1) Date and description of instrument creating the change |
Agreements, dated
13.04.2005 for
(Both these agreements
together constitute a single charge) |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 0.500 Million |
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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 |
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4) Gist of the terms and conditions and extent and operation of the charge. |
To secure
Overdraft facility granted by the Bank to the Borrower Rate of Interest
:- 13.50% p.a. |
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5) Name and Address and description of the person entitled to the charge. |
The North Kanara
G.S.B. Co-Operative Bank Limited, Jogeshwari (East), Mumbai-400060,
Maharashtra, India |
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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 |
Modification of
charge |
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Charge
identification number of the modified
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90229379 |
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Corporate
identity number of the company |
U29120MH1986PTC039819 |
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Name of the
company |
MONIBA ANAND ELECTRICALS 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. 1, Near Raheja Vihar, off
Saki Vihar Road, Chandivalik, Andhri (East), Mumbai-400072,
Maharashtra, India |
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Type of charge |
Book Debts Movable Property |
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Particular of
charge holder |
The North Kanara G.S. B. Co- Operative Bank Limited, Shree Niketan,
Hindu Friends Society, Road, Jogeshwari (East), Mumbai-400060, Maharashtra,
India |
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Nature of description
of the instrument creating or modifying the charge |
Letter |
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Date of
instrument Creating the charge |
08.07.2007 |
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Amount secured by
the charge |
Rs. 3.800
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As may be
decided, from time to time, by the Bank Terms of
Repayment As may be
decided, from time to time, by the Bank Margin As may be
decided, by the Bank Extent and
Operation of the charge To secure the due
repayment of Cash Credit facility of Rs. 3.800 Millions granted by the Bank
to the Company. |
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Short particulars
of the property charged |
All, present and
future, stock of delta impeller novial brass insert, delta dome, rotor, motor
base, stator stamping, cedrmron casting disc,vition “O”ring, winding wire,
brass insert impeller, copper wire, terminal box, (FRP), capacitor, bearing,
rotor stamping, S.S. Pipe, Volute Casting, harmmev drive screw, stock in
process, finished goods, etc. all other articles, stock and movable property
of any kind. All, present and future, outstanding book-debts, money
receivable, claims and approved book-debts. |
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Date of latest
modification prior to the present modification |
03.06.1999 |
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Particulars of
the present modification |
By this
modification, the Cash Credit facility has been reduced form Rs. 5.300
Millions to Rs. 3.800 Millions Therefore, the
overall charge now stands at Rs. 3.800 Millions. |
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 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.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 |
6 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
2 |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
4 |
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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 |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
29 |
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 |
|
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 |
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