MIRA
INFORM REPORT
|
Report Date : |
23.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
M. K. PRECISION METAL PARTS PRIVATE LIMITED |
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Registered Office : |
T-1/59 A, Revati Akash Ganga Complex, Shivaji Nagar, Thane [West]
400601, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
31.08.2004 |
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Com. Reg. No.: |
148319 |
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CIN No.: [Company
Identification No.] |
U27105MH2004PTC148319 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEM09000F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Sheet Metal Parts |
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 11900 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company meeting its normal commitments
timeously. Trade relations are fair.
The Company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Anup Surve |
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Designation : |
Director |
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Name : |
Mr. Ganesh Shetty |
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Designation : |
Accounts Manager |
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Date : |
16.05.2008 |
LOCATIONS
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Registered Office : |
T-1/59 A, Revati Akash Ganga Complex, Shivaji Nagar, Thane [West]
400601, Maharashtra, India |
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Tel. No.: |
91-22-25410292 / 27782521 |
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Fax No.: |
91-22-27782498 |
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E-Mail : |
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Website : |
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Area : |
10000 Sq. fts. |
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Location : |
Owned |
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Factory 1 : |
Plot No. A 791/10, Village
Khairne, T. T.C. Industrial Area, Navi Mumbai-400710, Maharashtra, India |
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Tel. No.: |
91-22-27782498 / 27782521 |
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Fax No.: |
91-22-27782163 |
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E-Mail : |
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Area : |
400 Sq. fts. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Anup Ramkrishna Surve |
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Designation : |
Director |
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Address : |
Flat No. G-1403, 14th Floor, Tin Hath Naka, Eternity, Wagle
Estate, Thane 400604, Maharashtra, India |
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Date of Birth/Age : |
26.06.1969 |
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Date of Appointment : |
31.08.2004 |
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Name : |
Mr. Ramkrishna Narayan Surve |
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Designation : |
Director |
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Address : |
A-54, Uttara Akash Ganga, Rabodi 2nd, Shivaji Nagar, Thane
400601, Maharashtra, India |
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Date of Birth/Age : |
30.11.1938 |
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Date of Appointment : |
31.08.2004 |
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Name : |
Mr. Kailash Saichand Golani |
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Designation : |
Director |
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Address : |
A -25, Anuradha, CHS, Akash Ganga, Thane [West], Maharashtra, India |
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Date of Birth/Age : |
10.10.1961 |
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Date of Appointment : |
31.08.2004 |
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Name : |
Mr. Sunanda Shetty |
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Designation : |
Director |
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Address : |
A-20, Anuradha, CHS, Akash Ganga, Thane [West], Maharashtra, India |
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Date of Birth/Age : |
12.11.1962 |
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Date of Appointment : |
31.08.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
[As on 30.09.2005]
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Names of Shareholders |
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No. of Shares |
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Ramkrishna Surve |
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1590 |
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Kailash Golani |
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6590 |
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Anup Surve |
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5190 |
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Sunanda Shetty |
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6591 |
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Equity Share
Break-up [As on 31.03.2007] |
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Percentage of
Holding |
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Directors or relatives of the Directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Sheet Metal Parts |
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Exports : |
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Products : |
All Products |
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Countries : |
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Imports : |
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Products : |
Machinery |
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Countries : |
Japan |
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Terms : |
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Selling : |
L/C, Credit [90 days] |
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Purchasing : |
Cash and Credit [30 days to 90 days] |
GENERAL
INFORMATION
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Customers : |
M/S. Airtech, Mumbai M/S. ABB Limited, Mumbai M/S. Amey Engineers / M/S. Neelkanth Engineers,
Mumbai M/S. Apex Engineering Services, Nasik M/S. Alembic Limited, Baddi-Himachal Pradesh M/S. Bajaj Hercules Group, Mumbai M/S. Bailiwick India, Mumbai M/S. Burroughs Welcome (India) Limited, Mumbai M/S. Cipla Limited, Mumbai, Goa.Baddi,Kurkumbh,Patalganga M/S. Classic Engineers, Thane M/S. Dr. Reddy's Laboratories Limited, Goa, Hyderabad M/S. Medispray Lab Private Limited, Goa M/S. Medule Pharma, Goa M/S. Oncocare Private Limited, Goa M/S. Ranbaxy Laboratories Limited, Dewas. M/S. Ranbaxy Laboratories Limited, Poanta Sahib M/S. Aventis Pharma Limited , Goa and Ankleshwar M/S. Enjay Hotels Limited, Mumbai M/S. Fibre Plast, Bangalore M/S. Grindwell Norton Limited, Bangalore M/S. Grandix Pharmaceuticals Limited, Chennai |
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No. of Employees : |
150 |
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Bankers : |
Wagle Estate
Branch, Tip Top Plaza, Wagle Estate, Thane [West], Maharashtra, India |
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Banking Relations
: |
Satisfactory |
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Auditors : |
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Name : |
Rajan Ranade and Company Chartered Accountants |
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Address : |
Casa – Piedade, 1st Floor, Opposite Shivsena Shakha,
Charai, Thane 400601, Maharashtra, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs. 100/- each |
Rs. 5.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20000 |
Equity Shares |
Rs. 100/-
each |
Rs. 2.000
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
|
Particulars |
|
31.03.2008 |
31.03.2007 |
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Sales Turnover |
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250.000 |
210.000 |
Expected Sales (2008-09): Around
Rs. 300.000 Millions
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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2.000 |
2.000 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.975 |
0.000 |
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4] (Accumulated Losses) |
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0.000 |
[0.819] |
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NETWORTH |
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2.975 |
1.181 |
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LOAN FUNDS |
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1] Secured Loans |
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26.714 |
2.499 |
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2] Unsecured Loans |
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6.377 |
6.642 |
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TOTAL BORROWING |
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33.091 |
9.141 |
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DEFERRED TAX LIABILITIES |
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0.711 |
0.446 |
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TOTAL |
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36.777 |
10.768 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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20.522 |
18.458 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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1.383 |
1.087 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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17.512 |
4.978 |
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Sundry Debtors |
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28.755 |
10.649 |
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Cash & Bank Balances |
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0.023 |
0.086 |
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Other Current Assets |
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0.933 |
0.208 |
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Loans & Advances |
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0.232 |
0.000 |
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Total
Current Assets |
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47.455 |
15.921 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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31.501 |
21.225 |
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Provisions |
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1.124 |
3.520 |
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Total
Current Liabilities |
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32.625 |
24.745 |
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Net Current Assets |
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14.830 |
[8.824] |
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MISCELLANEOUS EXPENSES |
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0.042 |
0.047 |
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TOTAL |
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36.777 |
10.768 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover |
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107.694 |
19.834 |
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Total Income |
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107.694 |
19.834 |
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Profit/(Loss) Before Tax |
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4.486 |
0.159 |
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Provision for Taxation |
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-- |
-- |
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Profit/(Loss) After Tax |
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4.486 |
0.159 |
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Expenditures : |
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Depreciation & Amortization |
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2.274 |
0.533 |
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Other Expenditure |
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100.934 |
19.142 |
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Total Expenditure |
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103.208 |
19.675 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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4.16 |
0.80 |
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Net Profit Margin (PBT/Sales) |
(%) |
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4.16 |
0.80 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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6.59 |
0.46 |
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Return on Investment (ROI) (PBT/Networth) |
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1.50 |
0.13 |
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Debt Equity Ratio (Total Liability/Networth) |
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22.08 |
28.69 |
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Current Ratio (Current Asset/Current Liability) |
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1.45 |
0.64 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
- ABB Limited
- Cipla
- Orchid
Form 8
Bankers Charges Report
as per Registry
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U27105MH2004PTC148319 |
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Name of the
company |
M. K. PRECISION
METAL PARTS PRIVATE LIMITED |
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Address of the registered
office or of the principal place of
business in India of the company |
T-1/59 A, Revati Akash Ganga Complex, Shivaji Nagar, Thane [West]
400601, Maharashtra, India |
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Type of charge |
Book Debts Movable Property |
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Particular of charge
holder |
Thane Janata
Sahakari Bank Limited Wagle Estate
Branch, Tip Top Plaza, Wagle Estate, Thane [West], Maharashtra, India |
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Nature of
description of the instrument creating or modifying the charge |
Hypothecation of
goods and book debts |
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Date of
instrument Creating the charge |
27.04.2007 |
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Amount secured by
the charge |
Rs. 5.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
[a] Terms of
repayment 12 months [b] Margin 75% covered by
way of stock and book debts [c] Extent and
operation of charge To cover the
FLC/Domestic L/C limit of Rs. 5.000 Millions. |
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Short particulars
of the property charged |
Stock and Book
Debts |
OTHER
INFORMATION:-
|
PARAMETER |
DETAIL |
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Statutory
Approval |
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Income Tax Registration |
AADCM9871F |
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Central Sales Tax Registration |
27590016065C |
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Service Tax registration |
AADCM9871FST001 |
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VAT / TIN Registration |
27590016065V |
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Excise Registration |
AADCM9871FXM001 |
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Import Export Code |
0304044334 |
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Name of Bank |
Thane Janata
Sahakari Bank Limited Wagle Estate
Branch, Tip Top Plaza, Wagle Estate, Thane [West], Maharashtra, India |
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Current Account Number |
221 |
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Account Since |
Since 2005 |
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Emp PF Reg Number |
99417 |
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Company ESI Reg. Number |
34/2089/67 |
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RBI Code Number |
-- |
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Credibility
Factors |
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India Mart Client Since |
Since 3-4 months |
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Years of Establishment |
Since 2004 |
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Trade
Affiliations |
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SSI Registration |
YES – 112486 |
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Export Promotion Council |
YES |
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Chambers of commerce Membership |
YES |
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D & B D-U-N-S Number |
-- |
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Government Recognized Export House Status |
-- |
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Other Affiliations |
-- |
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Standard and
certifications |
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Quality Management Systems |
ISO 9001:2000 |
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Environment Management Systems |
NO |
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Product Certificates |
NO |
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Other Crtificates |
NO |
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. 42.84 |
|
UK Pound |
1 |
Rs. 84.78 |
|
Euro |
1 |
Rs. 67.32 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
|
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--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
|