MIRA
INFORM REPORT
|
Report Date : |
30.07.2008 |
IDENTIFICATION
DETAILS
|
Name : |
PRASAD ENGRAVERS PRIVATE LIMITED |
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Registered Office : |
104, Morya Co-op Industrial Estate, Opposite Polygrass Hockey Stadium,
MIDC, Bhosari, Pune – 411 001, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
16.04.2004 |
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Com. Reg. No.: |
019136 |
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CIN No.: [Company
Identification No.] |
U22221PN2004PTC019136 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEP10738A |
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PAN No.: [Permanent
Account No.] |
AADCP2685E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and Exporters of Sign ages and Nameplates and also the
Service provider of Precision 2D, 3D CNC Engraving and Laser Marking. |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
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 1700 |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company meeting its smaller commitments
usually timeously. Trade relations are fair. Scale of activity is limited. The company can be considered good for small to mediocre business
dealings. |
INFORMATION PARTED
BY
|
Name : |
Mr. Prasad Ghatpande |
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Designation : |
Director |
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Date : |
25.07.2008 |
LOCATIONS
|
Registered Office : |
104, Morya Co-op Industrial Estate, Opposite Polygrass Hockey Stadium,
MIDC, Bhosari, Pune – 411 001, Maharashtra, India. |
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Tel. No.: |
91-20-27128622/ 66114180 |
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Mobile No.: |
91-9422027994 |
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Fax No.: |
91-20-66114180 |
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E-Mail : |
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Website : |
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Area : |
1600 sq ft |
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Location : |
Owned |
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Factory : |
E/L/39/11 J. Block, MIDC, Bhosari, Pune. |
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Area : |
4000 sq ft |
DIRECTORS
|
Name : |
Mr. Sandip R. Poredi |
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Designation : |
Director |
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Address : |
A-10, Radha-Krishna Vihar, Anand Nagar, Vadgaon BK., Pune – 411 051,
Maharashtra, India. |
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Date of Birth/Age : |
38 Years |
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Qualification : |
Engineering |
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Name : |
Mr. Shailesh V Kondra |
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Designation : |
Director |
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Address : |
“Swapananagari”, D 1, Flat No.304, Udyam Nagar, Opposite to Annasaheb
Nagar Stadium, Pimpri, Pune – 411 018, Maharashtra, India. |
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Date of Birth/Age : |
38 Years |
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Qualification : |
Engineering |
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Name : |
Mr. Prasad P. Ghatpande |
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Designation : |
Director |
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Address : |
B-2, 23 Suncity, Anand Nagar, Vadgaon BK., Pune – 411 051,
Maharashtra, India. |
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Date of Birth/Age : |
37 Years |
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Qualification : |
Engineering |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 12.04.2004
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Prasad P. Ghatpande |
|
3334 |
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Mr. Shailesh V Kondra |
|
3333 |
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Mr. Sandip R. Poredi |
|
3333 |
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TOTAL |
|
10000 |
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Equity Share
Break-up (As on 30.09.2006) |
|
Percentage
of Holding |
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Directors or Relatives Of Directors |
|
100 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporters of Sign ages and Nameplates and also the
Service provider of Precision 2D, 3D CNC Engraving and Laser Marking. |
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Products : |
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Exports : |
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Countries : |
US, UK, UAE, Masqat |
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Terms : |
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Selling : |
Cash, Credit 30 to 60 days |
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Purchasing : |
Cash and Credit 30 days |
GENERAL
INFORMATION
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Customers : |
End Users, Distributors |
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No. of Employees : |
7 (In office) |
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Bankers : |
Bank of Baroda |
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Facilities : |
Term Loan – Rs.2.500 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Subodh V. Shah and Company Chartered Accountants |
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Address : |
‘Girish’, 1156, Shukrawar Peth, Subhash Nagar, Opposite Shivaji
Maratha High School, Pune – 411 002, Maharashtra, India. |
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- Each |
Rs.0.100 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- Each |
Rs.0.100 million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
0.100 |
0.100 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
0.240 |
0.170 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
0.340 |
0.270 |
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LOAN FUNDS |
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1] Secured Loans |
|
0.876 |
1.118 |
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2] Unsecured Loans |
|
0.000 |
0.000 |
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TOTAL BORROWING |
|
0.876 |
1.118 |
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DEFERRED TAX LIABILITIES |
|
0.061 |
0.061 |
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TOTAL |
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1.277 |
1.449 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.329 |
1.520 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.000 |
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Sundry Debtors |
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0.625 |
0.543 |
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Cash & Bank Balances |
|
0.421 |
0.348 |
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Other Current Assets |
|
0.026 |
0.005 |
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Loans & Advances |
|
0.010 |
0.005 |
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Total
Current Assets |
|
1.082 |
0.901 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
|
0.864 |
0.847 |
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Provisions |
|
0.270 |
0.125 |
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Total
Current Liabilities |
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1.134 |
0.972 |
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Net Current Assets |
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(0.052) |
(0.071) |
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MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
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TOTAL |
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1.277 |
1.449 |
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KEY RATIOS
|
PARTICULARS |
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|
31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
|
|
5.91 |
7.74 |
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Current Ratio (Current Asset/Current Liability) |
|
|
0.95 |
0.93 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8
|
Name of the company |
PRASAD ENGRAVERS PRIVATE LIMITED |
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Presented By |
Mr. Prasad Prabhakar Ghatpande (Chairman) |
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1) Date and description of instrument creating the change |
Hypothecation of
Movable Machinery 24.05.2004 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.1.235 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 |
Hypothecation of
Movable Machinery at Borrower’s premises. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest – 0.25%
below prime lending rate with a minimum of 10.25% p.a. |
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5) Name and Address and description of the person entitled to the charge. |
Bank of Baroda Sadashiv Peth
Branch, Pune – 411 030. |
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6) Date and brief description of instrument modifying the charge |
NA |
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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. |
NA |
TRUSTSEAL ACCEPTANCE CHART:
|
Parameters |
Detail |
|
Existence
Verification |
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Name |
PRASAD ENGRAVERS PRIVATE LIMITED |
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Statutory
Approvals |
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Legal Status Of
Firm |
Private Limited Company under Indian
Companies Act 1956 |
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Income Tax
Registration |
AADCP2685E |
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Service Tax
Registration |
AADCP2685E ST 001 |
TRADE REFERENCES:
· Power Engineering Corporation – Goa
· Electrical Mechanical Tools – Maharashtra
· Backer Gages - Pune
WEB
SITE DETAILS: 
Profile
They, at subject, are a reputed and reliable name in the manufacture and export
of a whole range of signage and nameplates and leading service providers of
industrial 2D, 3D CNC and laser engraving. They have a manufacturing unit that
is strengthened with the best equipment available. They fabricate a series of
industrial and domestic signage and nameplates in engraved, etched, printed,
anodized, laser marked variety that includes almost all metals such as
aluminum, SS304, SS306, Brass, Copper, Bronze and non metals like PVC, polycarbonate,
acrylic and polyester vinyl.
With consistency in ringing in the latest technologies into the country, their
unit with skilled engineering manpower and latest automation infrastructure to
cater today’s quality and productivity needs of industry. They are dedicated to
quality and have a solid quality assurance process in place. Their exceptional
customer service has made us gain total customer satisfaction. 
Infrastructure
They have a state-of-the-art manufacturing
unit in Bhosari Industrial Estate in Pune. The unit is supported by the
infrastructural facilities enjoyed by the modern industrial hub it is located
in. Their production process is facilitated by a range of avant-garde machinery
and equipment. Their machinery includes:
· 3D CNC Engraving
Machines
· CNC Laser
Engraving Machine
· Automatic Acid
Etching Machine
· Pantograph
Machines
· CNC Plotter
Machines
· Fully Automatic
Printing Machines
· Tool and Cutter Grinder
Machines
· Automatic Vacuum
Exposure Machine
· Power Shearing
Machine
· Power Press
· Baking Ovens
· 4 Axis Rotary CNC
Engraving Attachment
· 4 Axis Rotary
Laser Engraving Attachment
· Polish and Buffing Machine
· Bench Grinders
The facility has dedicated units for quality assurance and research and
development. They have a highly effective supply chain in place that
facilitates the transportation of their products to their clients.
Quality
They attach utmost
importance to the perfection of their products and Services. They have a
flawless and efficient manufacturing process in place that enables us to make
quality products. Their products are quality checked by their quality experts
and each processed product that leaves their facility is meticulous to the
finest detail.
They take full responsibility of their quality and promptly replace any
non-conforming product, in the rare event of its happening.
Material
Applications
Their engraving and marking services can be
applied on wide array of finest grade materials. Their engraving techniques
also find applications on variety of surfaces. A small list of materials on
which they can effectively work is given below:
• Aluminum
• Brass
• Stainless Steel 304
• Stainless Steel 316
• Hardened Materials OHNS
• HCHC
• EN8 Series
• Anodized Aluminum
• Powder Coated Metals
• Copper
• Zinc
• Gold
• Silver
• PVC
• Glass Mirrors
• Glass Epoxy
• ABS
Research and
Development
They have a dedicated research and
development department that continually endeavors to usher in methodologies and
technologies that change the way engravings and signage are made. Their
research and development team is replete with modern tools and equipment that empowers
us to introduce innovation in their products and service.
Team
They have hardworking and dedicated
employees who have an exhibited expertise in their arena of functioning. Highly
qualified and talented, their team is one among the prime driving forces behind
their organizational progress. They nurture their employees as members of their
family and enhance their skills by incorporating various HR programs. This
enables their people to enhance their skills and increase the productivity of
the organization.
Customer Service
They actualize superior service that exceeds all customer expectations. Their employees are dedicated to provide their customers with a interaction that builds a relationship of faith. Their marketing and service representatives create such service excellence that ensures customers of quality products and consultancy on what will suit them the best. They have reached the pivotal of customer satisfaction by realizing such service standards.
Clients
They have reached the pinnacle in achieving
customer satisfaction with superior service, quality products, an unbeatable
value proposition and overall operational efficiency. With steadfast resolve in
creating a niche for theirselves in the market. Their list of world renowned
clientčle includes:
• Tata Motors Limited, Pune
• Mercedes Benz Limited, Pune Plant
• Bajaj Auto Limited, Pune
• Electronica Machine Tools Limited, Pune
• Thermax Limited Pune
• Cummins (I) Limited
• Alfa Laval India Limited, Pune
• Sandvik Asia Limited, Pune
• Serum Institute of India Limited
• Bharat Forge Limited
Laser Marking and Engraving
They manufacture a range of engraved , etched ,printed signage that are used in
various uses like name plates, labels, Indication / instruction boards etc.
Their products includes:
3D CNC Engraving
They provide a range of 2D, 3D CNC engraving job work services on dies, copper
electrodes heavy depth engraving operation on any 3d surface. It also make
engravings that are highly accurate with the support of latest cad/cam
engraving milling software. They have cutting edge 3D CNC machines that
actualize heavy duty jobs effortlessly. The process covers commercial
decorative applications like:
- Coining Dies
- Soap Case
Dies
- Memento
·
Trophies
Male/Female Dies Engraving
They are the specialist and pioneer in the male/female stamping moulds. They have made almost more than 2000
such stamped components through their expertise competent teamwork and
technology. They have developed the components for following corporates:
- Philips
- LG
- Videocon
- Onida
- Bajaj
- Tempo
- Kirloskar
- Cummins
They accomplish laser marking and
engraving on any nonmetals as well. They use the latest, economical and advanced
marking and engraving methodologies using modern CO2 laser machines. This
variety of marking is widely used in gift items/Articles. The laser machine
helps to complete the process in optimum time. The laser marking is widely
applied today almost everywhere. Few of the applications are:
• Wooden Photo Engraving
• Granite and Marble Engraving
• Acrylic Engraving and Cutting
• Marking On Pens/Gift Items
• Marking and Engraving On Leather
The applications are endless.
PVC Labels
They manufacture PVC (polyvinyl carbonate) labels which are a popularly used
variety of signages. It is effective produced on the materials of construction
such as:
- Paper
- PVC
- Poly
Carbonates
- Polyester
- Acrylics
The images that need to be produced is printed
by using special inks and adhesives as per the requirement of the job. The PVC
polycarbonate vinyl labels are extremely economical and effective means of
instruction and information exchange.
They manufacture worlds best signage material that is widely accepted across
the world. The presensitized labeling process is a patented one and the
technology is owned and patented by a US based company viz. Horizon Inc.,
Cleveland, Ohio. The image to be developed is processed on a presensitized
aluminum material photographically. The whole process is done completely in the
dark room. The images so produced are enduring and guaranteed to last in
extreme industrial and domestic environments like exposure to sun light, rain,
water, acids, alkalis, solvents, industrial abrasions, high temp, etc. The
durability is the key aspect of this label.
They produce the finest quality of Stainless
Steels labels and nameplates which are the toughest and durable material
and has applications wherever severe conditions are to be sustained. This
property of SS makes it a popular Signage material and is very widely used in
the industry. The process of making signage in SS involves Chemical etching of
the material and then providing required finishes such as Mirror Buffed, Matt,
Brush finish etc. The Etched images are filled with durable Automotive or Epoxy
Paints for the everlasting effect. Again the durability and withstand level to
harshest condition is the key of their product.
Aluminium Labels and Nameplates
This is their very popular product in industry. The variety of Signage
production available in this type are:
- Anodic
Printed Labels
- Dyeing Labels
- Ano-Etched
Labels
- Paint Etched
Labels
- Engraved
Labels
The list is endless. In this variety cost effectiveness
is the key factor.
They have a variety of domestic signage which are widely used as direction
board, sign boards of Bungalow/Building letters. They have a dedicated research
and development department that continually endeavors to usher in methodologies
and technologies that change the way of these products.
Their product is the landmark of their achievement in this variety of signages.
They actualize superior product and service that exceeds all customer
expectations. Their expert designers are dedicated to provide their customers
with a interaction that builds a relationship of faith along with innovative
design works. They design signs like:
- Edge Light
- Backlit Vinyl
- Advertise
Boards
- Scrolling
Advertising Boards
- Neon Signs
They undertake total contract of signage
design of shopping malls showrooms, building lobbies.
A few of their esteemed clients are:
- Big Bazaar
- Spartech
Hospital
- Kakade Mall
- Idea Mobile
- Hutch Mobile
Marking Punches/Foundry
Letters
They are the leaders in manufacturing of marking punches from small to big size
suitable for different stamping application. These punches are manufactured
using the finest quality of metal and meticulous technology of CNC engraving.
The sharpness of the stamped image and maximum working life of the punch is the
key of their product.
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.42.54 |
|
UK Pound |
1 |
Rs.84.86 |
|
Euro |
1 |
Rs.66.95 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
27 |
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 |
|