MIRA
INFORM REPORT
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Report Date : |
09.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
YO TANA MACHINE TOOLS PRIVATE LIMITED |
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Registered Office : |
18, Ambica Industrial Estate, Village Eyawa Tal s, Dist 10,
Ahmedabad, Anand 380010, Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
20.04.1987 |
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Com. Reg. No.: |
04-9569 |
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CIN No.: [Company
Identification No.] |
U29224GJ1987PTC009569 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
AHMY00162B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Filter Press. |
RATING &
COMMENTS
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MIRAs 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 9995 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company. Trade relations are
fair. Business is active. The company has incurred a loss during the year 2006-07.
Payments are reported as slow but correct. The company can be considered good for small to mediocre business
dealings, initially. |
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INFORMATION PARTED
BY
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Name : |
Mr. Amol Shah |
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Designation : |
Marketing Manager |
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Contact No.: |
91-9998025551 |
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Date : |
03.06.2008 |
LOCATIONS
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Registered Office : |
18, Ambica Industrial Estate, Village Eyawa Tal s, Dist 10,
Ahmedabad, Anand 380010, Gujarat, India |
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Tel. No.: |
91-79-26569139 |
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E-Mail : |
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Website : |
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Area : |
2500 Sq.ft. |
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Location : |
Owned |
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Factory : |
C 1/507, GIDC, Kerala, Near Bavla Distt, Ahmedabad 380009,
Gujarat, India |
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Tel. No.: |
91-79-30087036 / 30087037 |
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Fax No.: |
91-79-27142683 |
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Administrative Office : |
11, Mill Officers Colony, 2nd Floor, Behind La Gajjar Chamber,
Ashram Road, Ahmedabad 380009, Gujarat, India |
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Tel. No.: |
91-79-30087036 / 26589235 |
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Fax No.: |
91-79-26586705 |
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Area : |
14000 Sq. Yds |
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Location : |
Owned |
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Branches : |
Uttam Manek Chamber, 3rd Floor, 61/63, Kazi Saiyed Street,
Masjid Bunder, Mumbai 400003, Maharashtra, India |
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Tel. No.: |
91-22-23448515 |
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Fax No.: |
91-22-23452068 |
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Area : |
800 Sq.ft |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Kirit Kumar Atul Shah |
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Designation : |
Managing Director |
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Address : |
10, Adarsh Society, Near Swastik Society, Navrangpura, Ahmedabad 380
009, Gujarat, India |
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Date of Birth/Age : |
16.11.1945 |
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Qualification : |
BE. Mech |
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Date of Appointment : |
27.05.1987 |
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Name : |
Mr. Ramanlal Shah |
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Designation : |
Director |
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Address : |
47, Swair Vihar, Near Panjara Pole, Ambawadi, Ahmadabad 380 015,
Gujarat, India |
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Date of Birth/Age : |
06.07.1925 |
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Qualification : |
BE. Mech |
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Date of Appointment : |
01.01. 1990 |
KEY EXECUTIVES
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Name : |
Mr. Nishith A. Shah |
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Designation : |
Partner |
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Qualification : |
B.E. Indust. Elect. |
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Name : |
Mr. Amol A. Shah |
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Designation : |
Partner |
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Qualification : |
B.Com, P.G.D.B.M, D.M.M |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2005
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Names of Shareholders |
No. of Shares |
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Mr. Kirit Kumar Atul Shah |
4260 |
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Mrs. Pratibhaben Atulbhai Shah |
500 |
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Ms. Ishtaben A. Shah |
2110 |
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Ms. Nishita ben A. Shah |
10 |
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Mr. Amol A Shah |
14610 |
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Mrs. Shardaben Kirit Kumar Shah |
10 |
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Mrs. Neha Niranjanbhai Shah |
10 |
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Mr. Dilip Parekh |
10 |
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Mr. Rajendra Parekh |
10 |
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Mr. Arun Shah |
5460 |
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Mrs. Anjanaben Arunbhai Shah |
13020 |
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Mr. Ashok Shah |
20 |
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Mrs. Shantaben Chinubhai Shah |
10 |
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Mr. Chinubhai Shah |
10 |
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Mrs. Subhadraben Ramanlal Shah |
3000 |
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Mrs. Mayuriben Ashokbhai Shah |
30 |
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Ms. Kumudini R. Shah |
10 |
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Ms. Ashwina Jagendra Shah |
10 |
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Mr. Jayantilal Shah |
10 |
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Mr. Jagendra Shah |
10 |
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Mrs. Jyotsanben M. Desai |
10 |
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Mrs. Koshaben N. Shah |
10 |
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Total |
43140 |
Equity share breakup (Percentage of total equity)
As on 31.03.2007
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Sr. No. |
Category |
Percentage |
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1. |
Directors or relatives of directors. |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Filter Press. |
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Products : |
v
Manual Hand Wheel Operated Closing v
Manual Gear Ratchet Operated Closing ·
Hand Pump
Operated (Non-Motorized) ·
Hand Lever
Operated Motorized ·
Automatic
Hydraulic Closing Controlled by Electric Control Panel v
Individual Plate Shifting Device ·
Automatic
Plate Transport System with Shifter
Trolley ·
Mechanical
Shifting (Dog Operated) v All Plate Lifting-Shifting Device v All Plate Shifting by Multiple Group v Automatic Bomb Door Drip Tray v Automatic Inlet-Outlet Valves v
Fully Automatic Membrane Filter Press v
Dual I. Beam type Overhanging Filter Press v
Polypropylene Filter Elements v P.P. Recess Chamber Plates v P.P. High Temperature Working Plate v P.P. Plate & Frame v P.P. Gasketed (O'ring) Plate v P.P. Craft Plate & Frame v P.P. Plate with Top Center Feed v P.P. Plate with Two Top Corner Design v P.P. Round Ceramic Plates |
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Exports : |
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Countries : |
Asian Country |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
200 |
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Bankers : |
State Bank of India, GIDC, Odhav Branch Citi Bank, CG Road, Ahmedabad Branch |
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Facilities : |
CC Rs. 1.500 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Anil S. Shah and Company Chartered Accountants |
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Address : |
302, Shaily Complex, Opp. Loha Bhavan, Old High Court Road, Navrangpura,
Ahmedabad 380 009, Gujarat, India |
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Sister Concerns : |
Kirti Poly Plast Industries, Anand, Gujarat Nirmal Poly Plast Industries, Anand, Gujarat Purity Filter Industries, Anand, Gujarat |
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Associates : |
v
Yotana Machine Tools Private Limited. ·
Filter Press assembly shop v
Yotana Wood Fab Private Limited ·
Filter Press Assembly Shop v
Nirmal Polyplast Industries ·
Filter Element Molding Shop v
Kirty Polyplast Industries ·
Filter Element Molding Shop v
Purity Filter Industries |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50,000 |
Equity shares |
Rs. 10/- each |
Rs. 0.500 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
43,140 |
Equity shares |
Rs. 10/-
each |
Rs. 0.431
million |
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 |
0.431 |
0.431 |
0.431 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1.568 |
1.772 |
1.700 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.999 |
2.203 |
2.131 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
1.037 |
0.958 |
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2] Unsecured Loans |
0.666 |
0.601 |
0.766 |
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TOTAL BORROWING |
0.666 |
1.638 |
1.724 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
2.665 |
3.841 |
3.855 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.243 |
0.257 |
0.326 |
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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 |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
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0.492 |
1.202 |
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Sundry Debtors |
0.346
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1.945 |
1.911 |
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Cash & Bank Balances |
0.088
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0.105 |
0.294 |
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Other Current Assets |
0.102
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0.000 |
0.000 |
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Loans & Advances |
2.267
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1.561 |
1.116 |
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Total
Current Assets |
2.803
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4.103 |
4.523 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
0.284
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0.520 |
0.791 |
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Provisions |
0.100
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0.000 |
0.203 |
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Total
Current Liabilities |
0.384
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0.520 |
0.994 |
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Net Current Assets |
2.419
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3.583 |
3.529 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
2.665 |
3.841 |
3.855 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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0.596 |
1.824 |
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Other Income |
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0.000 |
0.022 |
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Total Income |
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0.596 |
1.846 |
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Profit/(Loss) Before Tax |
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0.058 |
0.000 |
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Provision for Taxation |
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0.262 |
0.000 |
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Profit/(Loss) After Tax |
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(0.204) |
0.071 |
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Expenditures : |
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Depreciation & Amortization |
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0.029 |
NA |
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Other Expenditure |
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0.509 |
NA |
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Total Expenditure |
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0.538 |
NA |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
(34.22)
|
3.85 |
-- |
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Net Profit Margin (PBT/Sales) |
(%) |
9.73
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-- |
-- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
9.73
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-- |
-- |
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Return on Investment (ROI) (PBT/Networth) |
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0.03
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-- |
-- |
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Debt Equity Ratio (Total Liability/Networth) |
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0.19
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0.24 |
0.47 |
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Current Ratio (Current Asset/Current Liability) |
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7.29
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7.89 |
4.55 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
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Name of the company |
YOTANA MACHINE
TOOLS PRIVATE LIMITED |
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Presented By |
Mr. Atulbhai K.
Shah |
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1) Date and description of instrument creating the change |
20.02.1988 i) General agreement
for the grant of medium term advance to SSI and hypothecation of movables,
book debts and other assets. ii) Ancilliary
agreement for medium term loan against pledge of movable machinaries. iii) Guarantees
agreement for small industrial advances (Term loans) |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 0.500 million Working capital
Rs. 0.300 million Term loan Rs.
0.200 million Total 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 |
Stock in trade
(Raw Material, WIP, finished and stores etc and book debts for working
capital and all present Machinaries worth Rs. 0.310 million as per valuation
report of chartered engineer Shri G G Shah |
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4) Gist of the terms and conditions and extent and operation of the charge. |
i) For working
capital fund interest 1.25% below BPLR and minimum @15.2 for medium term loan
3% below SBAR an minimum and 13.5%. ii) Margin @ 25%
for Raw Material @4 for stock in process and finished goods @ 50% for book
debts and 33% of plant and Machinaries. iii) Part limit,
hypothecation Rs. 0.200 million Book debts Rs. 0.050 million and DD/Cheque
purchase Rs. 0.050 million for working capital finance. |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of
India GIDC, Odhav
Branch, Ahmedabad |
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6) Date and brief description of instrument modifying the charge |
28.01.1989 a) Supplemented general
agreement for the grant of working capital; advance to SSI and hypothecation
of movable book debts and other assets. b) Ancillary
agreement for working capital advance against receivable bills in course of
collection. c) Guarantee
agreement for small industrial advance/working capital finance.) |
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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 charge over
stock in trade, (Raw Material, Stock in progress, finished goods stores etc.)
and book debts and all present machinery is extended to cover the facility. |
Introduction
They are glad to introduce themselves as a group of companies engaged in the activity of manufacturing Filter Presses and its accessories since 1972.
The Group known as YO-TANA GROUP is one of the leading group manufacturing Filter Presses in India having more than 3000 successful Filter Press installation. They also have the activities in the surrounding countries of India
Group Company
Filter Press Engineering workshop, Fabrication shop, Hydraulic cylinder and system assembly shop Mould and Die Manufacturing shop, etc.
All these above units located in and around AHMEDABAD, INDIA.
The total land area in which the manufacturing activity is carried out is approximately 15000 Sq. Yard having built up area of 1500 Sq. yards.
Facilities and Activities
They are having following in house facilities for the manufacture of the Filter Press and parts thereof :
Moulding shop :-
They are having in house P.P. Injection Moulding Shop having 100 M.T. to 1500 M.T. Capacity Compression Moulding Machines alongwith Inspection Unit. presently they are making upto 2000 x 2000 MM size P.P. Plates i.e. Approxi. 130 Kg./Plate & are having capacity to produce 50 M.T. / Month in house.
Die,Mould making shop
Fabrication shop
Assembly shop :-
They are assembling Hydraulic systems like : Hydraulic Cylinder, Semi / Fully Auto unloader design Power Pack (having a components of Polyhydron or Yuken make) in house. They are also assembling Filter Press Structure
(skeleton) after matching with other parts of Filter Press like : P.P. Plates, Inlet Body, End Body, Moving Body, M. S. Side Bars etc..
Machining shop :-
Machining shop having 6 Nos. of Lath, 3 Nos. Milling Machines, Shapping Machines, Drilling Machines, Horizontal boring machines, Vertical Lath machine, Vertical Surface grainding Machine (which are used for making upto 1500 x 1500 mm size Filter Presses in the work shop.
Inspection and testing
department :-
Accurately machining part are assembled and tested for
Leakage without putting Filter Cloth by water @ 2 Kg/Cm2 water
Pressure.
Capacity
The company manufactures a wide range of Filter Presses ranging from 150 mm sq. to 1500 mm sq. type of plates like Chamber plates, Plate & Frame type in one eyed, two eyed, three eyed, four eyed, five eyed and six eyed design.
Both, high pressure Filter Plates withstanding a pressure of 18 bar, and low pressure Filter plate upto 7 bar working satisfactorily in various process industries.
Capacity of the Molding shop is 2000 kg per day of Polypropylene in Five different compression Molding Machine.
Plates being moulded by a special technique called ICM process.
@ 15000 Nos. of Filter Plates manufactured /year and
@ 250 Nos. of Filter Press of Different sizes
manufactured/year
Trade References
v Hindustan Zinc Limited Udaipur
v Rubamin Limited Baroda
v Khayati Chemicals Private Limited - Ahmedabad
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 Intl
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 :
The 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.
The Governance Assessment focuses principally on the interactions
between a companys 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. 42.89 |
|
UK Pound |
1 |
Rs. 84.47 |
|
Euro |
1 |
Rs. 67.66 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
42 |
This score serves as a reference to assess SCs 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, they have no basis upon which to
recommend credit dealings |
No Rating |
|