MIRA
INFORM REPORT
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Report Date : |
03.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
IMECO LIMITED |
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Registered Office : |
26, R N Mukherjee Road, Kolkata – 700001, West Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
16.01.1975 |
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Com. Reg. No.: |
21-29830 |
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CIN No.: [Company
Identification No.] |
U10200WB1975PTC029830 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALI00412G |
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PAN No.: [Permanent
Account No.] |
AAACI6301B |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business : |
Manufacturing and Supplying of Various Equipments and Spares to Core Sector Industries including Power, Steel, Cement, Petrochemical and Oil, Fertilizer, Chemicals, etc. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 443484 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established company having satisfactory track records. Directors are reported as experienced, respectable and resourceful businessmen. Their trade relations are fair. Financial position is satisfactory. Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered/Head Office : |
26, R N Mukherjee Road, Kolkata – 700001, West Bengal, India |
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Tel. No.: |
91-33-22481888 / 0353, 22434501 / 4503 |
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Fax No.: |
91-33-22480248 / 0242 |
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E-Mail : |
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Website : |
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Factory : |
4/5, K P Prasanna Singha Road, Kolkata – 700002, West Bengal, India |
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Tel. No.: |
91-33-25575618 |
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Branches : |
32 TTK Road, Chennai – 600018, India |
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Tel. No.: |
91-44-24982888 / 4888 |
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Fax No.: |
91-44-24985988 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Dinesh Kumar Agarwal |
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Designation : |
Director |
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Address : |
182 Block G New Alipore, Kolkata – 700 053, West Bengal, India |
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Date of Birth/Age : |
02.03.1953 |
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Qualification : |
Graduate |
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Experience : |
32 Years |
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Date of Appointment : |
12.12.1975 |
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Name : |
Mr. Jugal Kishore Agarwal |
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Designation : |
Director |
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Address : |
182 Block G New Alipore, Kolkata – 700 053, West Bengal, India |
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Date of Birth/Age : |
11.12.1928 |
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Date of Appointment : |
16.01.1975 |
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Name : |
Mr. Lila Dhar Agarwal |
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Designation : |
Director |
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Address : |
182 Block G New Alipore, Kolkata – 700 053, West Bengal, India |
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Date of Birth/Age : |
24.05.1947 |
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Date of Appointment : |
16.01.1975 |
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Name : |
Mr. Naresh Kumar Agarwal |
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Designation : |
Director |
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Address : |
182 Block G New Alipore, Kolkata – 700 053, West Bengal, India |
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Date of Birth/Age : |
15.08.1957 |
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Date of Appointment : |
01.11.1977 |
KEY EXECUTIVES
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Name : |
Mr. S. K. Ghosh |
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Designation : |
Company Secretary |
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Address : |
AB – 198, Salt Lake City, Sector – I, Kolkata – 700064, India |
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Tel No.: |
91-333-23592065 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.03.2007)
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Names of Shareholders |
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No. of Shares |
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Mr. Jugal Kishore Agrawal |
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Mr. Liladhar Agarwal |
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103105 |
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Mr. Dinesh Kumar Agarwal |
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103105 |
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Mr. Binal Kumar Bhojania |
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625 |
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Mrs. Santi Devi Agarwal |
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149170 |
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Mr. Naresh Kumar Agarwal |
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153445 |
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Mr. Rakesh Kumar Agarwal |
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625 |
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Mrs. Manju Agarwal |
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103105 |
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Mrs. Meera Devi Agarwal |
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124705 |
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Mr. Mahesh Kumar Agrawal |
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103105 |
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Air System Private limited |
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250 |
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Mr. Naresh Kumar Agarwal |
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103105 |
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Mrs. Sikha Agarwal |
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125 |
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Mrs. Jaya Agarwal |
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125 |
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Mr. Harsh Vardhan Agarwal |
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107905 |
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Mr. Nikunj Agarwal |
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103105 |
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Mrs. Sunita Agarwal |
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103105 |
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Mr. Nitin Agarwal |
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107905 |
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Mrs. Swati Agarwal |
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125 |
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Mrs. Siddhi Agarwal |
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125 |
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Mrs. Manju Kandi |
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58000 |
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Ragnay Overseas Private Limited Liability Company Limited |
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28000 |
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Mr. Sanjay Kanoj |
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40000 |
Equity Shares Breakup (Percentage of Total Equity): (as on 31.03.2007):-
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Category |
Percentage |
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Directors or relative of directors |
88.70 |
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Other top fifty (50) shareholders |
11.30 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and Supplying of Various Equipments and Spares to Core Sector Industries including Power, Steel, Cement, Petrochemical and Oil, Fertilizer, Chemicals, etc. |
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Products : |
· Air Compressor Spares · Air Pollution Control Equipment Spares · Air Preheaters and Spares · Gearboxes and Spares · Heat Exchangers · Industrial Fans and Spares · Pressure Parts · Pulverisor Spares · Turbine Blades and Spares Division: · Compressor and Pneumatic Division |
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Brand Names : |
‘IMECO’ |
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Terms : |
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Selling : |
Cash, Credit and Contract |
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Purchasing : |
Cash, Credit and Contract |
PRODUCTION STATUS
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Particulars |
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Unit |
Installed
Capacity |
Actual
Production |
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Equipment and Spares |
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MT |
424.690 |
1039.135 |
GENERAL
INFORMATION
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Customers : |
Manufacturers and Government Bodies Major Customer · Atlas Copco Limited · Batliboi and Company Limited · Bharat Heavy Electricals Limited · Blue Star Limited · Carrier Aircon Limited · Chicago Pneumatic Tools · Ingersoll Rand India Limited · K G Khosla · Thermax Limited · Voltas Limited |
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No. of Employees : |
40 |
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Bankers : |
· State Bank of India, Address 1 :New Alipore Branch, Kolkata – 700053, West Bengal, India Address 2 : Commercial Branch, Howrah, 9 G T Road, South , Howrah -711101, West Bengal, India · Central Bank of India Address: Cal Main Office, India |
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Banking Relations
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Satisfactory |
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Auditors : |
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Name: |
M M Sinha & Company Chartered Accountant |
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Address: |
8/2, Kiran Sankar Roy Road, Kolkata – 700001, West Bengal, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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3000000 |
Equity Shares |
Rs. 10/- each |
Rs. 30.000 millions |
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200000 |
Preference shares |
Rs.100/- each |
Rs. 20.000 millions |
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Total |
Rs.50.000
millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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2975640 |
Equity Shares |
Rs. 10/- each |
Rs.29.756
millions |
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200000 |
Preference shares |
Rs.100/- each |
Rs.20.000
millions |
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Total |
Rs.49.756 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
49.756 |
49.756 |
38.220 |
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2] Share Application Money |
0.000 |
0.000 |
6.250 |
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3] Reserves & Surplus |
61.115 |
41.477 |
34.387 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
110.871 |
91.233 |
78.857 |
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LOAN FUNDS |
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1] Secured Loans |
110.658 |
93.212 |
77.570 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.723 |
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TOTAL BORROWING |
110.658 |
93.212 |
78.293 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
221.529 |
184.445 |
157.150 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
105.418 |
102.428 |
90.617 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
1.806 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
72.246
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37.392 |
46.676 |
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Sundry Debtors |
78.559
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99.261 |
45.952 |
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Cash & Bank Balances |
1.887
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5.604 |
0.999 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
42.904
|
8.306 |
8.064 |
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Total
Current Assets |
195.596
|
150.563 |
101.691 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
74.759
|
63.250 |
34.848 |
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Provisions |
6.532
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5.296 |
0.310 |
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Total
Current Liabilities |
81.291
|
68.546 |
35.158 |
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Net Current Assets |
114.305
|
82.017 |
66.533 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
221.529 |
184.445 |
157.150 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
345.236 |
263.432 |
83.707 |
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Other Income |
0.000 |
0.000 |
0.000 |
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Total Income |
345.236 |
263.432 |
83.707 |
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Profit/(Loss) Before Tax |
15.065 |
11.241 |
0.847 |
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Provision for Taxation |
1.515 |
1.181 |
0.310 |
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Profit/(Loss) After Tax |
13.550 |
10.060 |
0.537 |
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Expenditures : |
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Total Expenditure |
330.171 |
252.191 |
82.923 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2007
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
3.92
|
3.82 |
0.64 |
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Net Profit Margin (PBT/Sales) |
(%) |
4.36
|
4.27 |
1.01 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
5.00
|
4.44 |
0.44 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.13
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0.12 |
0.01 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.73
|
1.77 |
1.44 |
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Current Ratio (Current Asset/Current Liability) |
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2.41
|
2.20 |
2.89 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8:
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Corporation identity number or foreign company registrations number of
the company |
U10200WB1975PLC029830 |
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Name of the company |
IMECO LIMITED |
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Address |
26 R
N Mukherjee Road, Kolkata – 700 001, West Bengal, India |
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This Form is for |
Modification of charge |
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Type of Charges |
Immovable Property |
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Particular of the charge holder
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State Bank of India Email: sbi.4150@sbi.co.in |
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Nature or description of the instrument creating charge |
Supplemental Recital |
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Date of the instrument creating charge |
20.11.2007 |
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Amount Secure by the charge |
Rs. 209.100 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate of Interest As stipulated by the bank from time to time as per the Banking norms
and RBI guidelines Terms of repayment: As may be stipulated by the bank from to time Margin: As stipulated by the bank for the respective assets from time to time.
Extent and operation of the
charge: First charge on the whole mortgaged properties. |
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Short particulars of the Property charged |
Total Land measuring 17.26 acres under Cadastral survey Plots in part
– Plot No. 144, 145, 163, 164, 165, 166, 159, 160, 161, 138/ 348 under lease
Deed No. 807 dated 04.08.2004 registered in Book No. 1, Vol – 16, Pages 35 to
60 in the year 2004 , in the name on IMECO Limited |
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Particulars of the present modification |
By this modification the overall limit is enhanced from Rs. 149.200
millions to Rs. 209.100 millions. Particulars of immovable properties and all
other terms and conditions continue to remain as before in full force and
effect. |
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Name of the
company |
IMECO LIMITED |
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Presented By |
Central Bank of
India |
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1) Date and
description of instrument creating the change |
Deed of hypothecation
of movable plant and machinery to secure for packing credit advance ,
agreement for Letter of credit and
bank guarantee , Term Loan agreement , letter of hypothecation of foreign bills , agreement for bill
discounting , deed of hypothecation of book debt to secure cash credit or
overdraft letter of hypothecation to
secure demand cash credit against goods general counter guarantee and indemnity covering several guarantee
within the sanctioned guarantee limit , guarantee for discounting documentary
demand bill, all dated 06.10.2003 |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 115.500
millions the details of which are as under: C/C (H) Rs. 6.800
millions , P/C (H) Rs. 6.800 millions, Bill Discounting (Inland / Export )
DP/DP upto 90 days Rs. 21.400 millions, Term Loan Rs. 63.500 millions L/C (DP
/ DA 90 days) Rs. 4.500 millions , bank guarantee Rs. 12.500 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 entire stocks of raw material ,, WIP , consumable and finished goods against C/C Limit of Rs. 6.800 millions and P/C limit of Rs. 6.800 millions totaling Rs. 13.600 millions, · Lien on bills against bills discounting limit of Rs. 21.400 millions · Equitable mortgage / hypothecation of entire fixed assets of the company and extension of charge on the entire current assets of the company against term loan facility of Rs. 63.500 millions · Hypothecation of stocks under L/C against the L/C limit Rs. 4.500 millions · Counter guarantee of the company and extension of charge on the current assets of the company against non fund limit of Rs. 17.000 millions |
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4) Gist of the
terms and conditions and extent and operation of the charge. |
· Interest and Margin as mentioned in the sanction letter · Repayable on demand and as mentioned in the sanction letter · All other terms and conditions as per sanction letter |
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5) Name and
Address and description of the person entitled to the charge. |
Central bank of India Address: 33 Netaji Subhash Road, Calcutta
– 700 001, India |
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6) Date and brief description of instrument
modifying the charge |
No instrument was
executed a mortgage was created on first charge basis on 12.08.2004 by
deposit of original IGR No. 986795 and certified copy lease deed No. 807
dated 04.08.2004 in respect of the company immovable properties situated at
Mouza and Village Panchayat Sadatpur
under JL No. 89, P S Kharagpur, District Midhapur (West), Survey Plot No.
143, 146, 147, 150, 151, 152, 153, 154, 155, 1156, 157, 158 in full and Plot No. 144, 145, 163-166, 159-161,
138/148 in part comprising of land measuring 53 bigha (763200 sq.fts) together
with building structure thereon and all plants and machinery attached to the earth or permanently
fastened to anything attached to the earth.
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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. |
The due repayment
and discharge of bank loan arrangement to the extent of Rs. 115.000 millions
granted by the bank vide sanction letter dated 26.09.2003 together with
Interest , additional Interest , liquidated damage, commitments, charges
,costs, charges, expenses, premia on repayment, or on redemption and other money payable under their
respective heads of agreement /
letter of sanction as amended from time to time which is secured by the
charge created under aforesaid deed of hypothecation mentioned in column 1
hereof as amended by deed of hypothecation of movable plant and machinery ,
book debts on 04.03.2004 is now additionally secured by the said mortgage by
deposit of original IGR and certified copy of lease deed created by the
borrower on 12.08.2004 in favour of the bank. |
As per Website Details:
Profile:
The company established in 1975, is one of the leading Engineering Organizations
manufacturing and supplying various equipments and spares to Core Sector
Industries including Power, Steel, Cement, Petrochemical and Oil, Fertilizer,
Chemicals etc. competing throughout the Globe, subject has been able to create
a name for itself for its dedicated services. Dependable quality at economic
prices, quick availability and prompt after sales service find easy
acceptability of their products from almost all conceivable industries.
Their vision is to become a world class, innovative, competitive engineering
enterprise providing effective business solutions. Their greatest strength lies
in their highly skilled and committed work force, who by continuous training
and a positive and participative style of management have engendered a work
culture leading to enhanced productivity and higher levels of quality.
They are constantly investing in resources for product development with an
objective to provide market-leading products that reduce their customer's
downtime. A combination of their knowledge and the extensive experience gained
by their engineers on sites throughout the world enables them to support their
customers when such occasion arises.
Air Preheater Division:
The company has
been supplying spares for Regenerative Air and Gas Preheater for the last many
years. These spares, manufactured under strict Quality Control, are in
operation at various customer locations.
The design of
the Regenerative Air and Gas Preheater is guided by the dust burden
characteristics in the flue gas system. Efficient heat transfer being the major
objective of Regenerative Air and Gas Preheater, their design takes into
consideration all such parameters to maximize heat transfer and minimise leakages.
They supply
the following fast moving spares for Regenerative Air and Gas Preheater: -
- Replacement Baskets / Elements
- Seals (Axial / Radial / By-pass) and
Sector Plates
- Replacement Spares for Preheater Gear
Box
Regenerative
Air and Gas Preheater Replacement Baskets / Element
They are supplying Regenerative Air and Gas
Pre-heater Replacement Baskets / Element suitable for various type of
Preheaters for over a decade and have established their selves as a leading
user for this highly technical product. They have specialised personnel in
their design department to develop and design custom made heating elements.
Replacement Baskets / Elements are available
for all makes of Regenerative Air and Gas Preheater, both for rotating matrix
and stationary and the various materials used for elements includes: -
- Carbon Steel
- Corten Steel
- Enamel Coated Steel
- Stainless Steel
While manufacturing the elements they take into
consideration the following facts :-
· Solid Construction
· High Heating Efficiency
· High Resistance Against Corrosion
· Least Pressure Loss
· Easy Assembly and Dismantle
· High Stability While Washing With Pressure
· Easy Access For Cleaning
Compressor and Pneumatic Division:
They are supplying a wide range of spares for
Air and Gas compressors for makes such as Atlas Copco, Ingersoll Rand, Broomwade
(Kirloskar), Crepelle (K.G.Khosla), C.P. Tools etc. which includes regular
consumable spares such as Valve Assemblies, Valve and Buffer Plates, Piston and
Rings, 'O' rings, Connecting Rods, Rotor Blades, etc.
They are also leading suppliers of Pneumatic
Tool spares for various makes such as C.P. Tools, Ingersoll Rand, Atlas Copco,
Holman, etc. for their various equipment like Chipping Hammers, Grinders,
Reversible and Non Reversible Drills, Riveters, Wrenches, etc.
Expert technology and multistage Quality
Control make their spares highly trusted throughout the world. Based on their
performance, Director General - Supply and Disposal (DGS and D), a government
of India Undertaking, has awarded us successive Rate Contracts for a continuous
period of 18 years for more than 8000 components. All they require to quote is
the Make, Model and part numbers of the component.
Industrial Fan Division:
Their endeavor with industrial fans started almost 20 years back when they
started supplying fast moving spares for fans to Cement Industry. Gradually,
building on their strengths, they started supply of spares for Power, Steel,
Cement, Paper, Fertilizer and Chemical Plants for the following fan types:
Induced Draft Fans
- Forced Draft Fans
- Primary Air Fans
- Secondary Air Fans
- Exhaust and Vapour Fans
Currently they are supplying Impellers and Shafts for Fans up to 4000 mm
Dia duly dynamically balanced and shafts upto 800mm Dia and 6500mm length.
Industrial Heat Exchanger Division:
They have a dedicated and experienced team of
engineers and technical experts to undertake design and manufacture of all
types Industrial Heat Exchangers such as Heaters and Coolers both of Shell and
Tube Type as well as Plate Type. Their Heat Exchangers are manufactured to
various specifications such as BS/ DIN/ ASTM / ASME / API. Besides supply of
new Heat Exchangers, they render their services for replacement of coils and
tubes in existing Heaters and Coolers for various industries such as Power,
Cement, Steel, Paper, and Fertilizer etc.
Locomotive Spares Division:
They offer
various fast moving spares for Diesel Shunting Locomotives for all major makes
including AlCO, Bambardier, SAN, BHEL, etc including Brake Blocks, Brake Shoes,
Spares for WABCO Air Brake System, Spares for Compressors/ Exhausters, Filters,
etc.
Most of these spares are their ready inventory
items and can be offered ex-stock and all they need to quote is the Make, Model
and Part number of the components required based on which they can submit their
offers.
Pollution
Control Division:
Their company
has been one of the pioneers in design, manufacture and supply of spares and
services for Pollution Control Equipments such as Electrostatic Precipitators
and Bag Filters.
They have been doing the Life study;
Recommendations for increasing efficiency; Upgradation, Renovation and
Modernisation; Supervision of Erection and Commissioning. These are done as the
basis of design data and input parameters tabulated along with the output data.
Pulverisor (Mill) Division:
Imeco Bowl
Mill Spares are made from the highest quality Alloy and Wear Resistance Steels
- Chrome and High Nickel Base Alloys. Their Production Engineers are intimately
familiar with the environments, working conditions and usage of each of the
Bowl Mill components. All their spares are manufactured within close
tolerancees to ensure perfect interchangeability with the equipment.
Most of these
spares are their ready inventory items and can be offered ex-stock and all they
need to quote is the Make, Model and Part number of the components required
based on which they can submit their offers.
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.42.24 |
|
UK Pound |
1 |
Rs.83.26 |
|
Euro |
1 |
Rs.65.58 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
46 |
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 |
|