MIRA
INFORM REPORT
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Report Date : |
06.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
POLYMEK PRODUCTS |
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Registered Office : |
S No. 681/3A, Sai Industrial Estate, 1st Floor, 1 and 2, Behind
Savitribai Phule High School, Landewadi, Bhosari, Pune – 411 039, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1998 |
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PAN No.: [Permanent
Account No.] |
AFQPB8683P |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer and Supplier of High End Rubber Products |
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 3000 |
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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 concern having satisfactory track. Trade relations are fair. Payments are usually correct and as per
commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Bhaskar |
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Designation : |
Chief Executive Officer |
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Contact No.: |
91-9922427395 |
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Date : |
03.11.2008 |
LOCATIONS
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Registered Office : |
S No. 681/3A, Sai Industrial Estate, 1st Floor, 1 and 2, Behind
Savitribai Phule High School, Landewadi, Bhosari, Pune – 411 039,
Maharashtra, India |
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Tel. No.: |
91-20-27123932 / 65105807 |
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Mobile No.: |
91-9922427395 |
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Fax No.: |
91-20-65105807 / 27123932 |
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E-Mail : |
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Area : |
2000 Sq. ft. |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mrs. Sangeeta Mandlik |
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Designation : |
Proprietor |
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Date of Birth/Age : |
35 Years |
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Qualification : |
H.S.C. |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Supplier of High End Rubber Products |
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Products : |
·
Engine Mountings ·
Transmission Mountings ·
Metal Bellows ·
Rings ·
Rubber Hoses ·
Sealing Rings ·
Rubber Buffers ·
Rubber Bushes |
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Terms : |
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Selling : |
Cash – Cheque |
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Purchasing : |
Cheque |
GENERAL
INFORMATION
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Customers : |
·
Industries ·
Autoline Stamping Private Limited ·
Chaphekar Engineering Private Limited ·
Kotkar Energy Dynamics., Pricol Limited ·
Premier Limited ·
Shreya Industries., ·
Shreenivas Machine Craft Private Limited ·
T. R. Enterprises ·
Miju Components Private Limited ·
Mai Indolink Consulting Private Limited ·
Yoshika Engineering Private Limited |
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No. of Employees : |
20 (In Office 5 and In Factory 15) |
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Bankers : |
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Seva Vikas Co-Operative Bank, Bhosari Branch, Pune ·
City Bank ·
Devlopment Credit Bank ·
ICICI Bank ·
Kotak Mahindra Bank ·
Axis Bank ·
Centurion Bank Punjab |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. Kolopkar Chartered Accountants |
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Address : |
Pune |
CAPITAL STRUCTURE
Proprietors Capital :
(As on 31.03.2008)
Rs.
In Millions
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Opening Capital |
0.512 |
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Add : Addition During the Year |
0.000 |
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Add : Profit During the Year |
0.193 |
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Less : Drawings |
(0.168) |
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0.537 |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Proprietors Capital |
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0.537 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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0.537 |
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LOAN FUNDS |
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1] Secured Loans |
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0.995 |
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2] Unsecured Loans |
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0.712 |
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TOTAL BORROWING |
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1.707 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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2.244 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.841 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.265 |
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Sundry Debtors |
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0.851 |
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Cash & Bank Balances |
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0.233 |
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Other Current Assets |
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0.055 |
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Loans & Advances |
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0.804 |
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Total
Current Assets |
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2.208 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.772 |
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Provisions |
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0.033 |
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Total
Current Liabilities |
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0.805 |
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Net Current Assets |
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1.403 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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2.244 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2008 |
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Sales Turnover |
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3.776 |
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Other Income |
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0.876 |
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Total Income |
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4.652 |
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Profit/(Loss) Before Tax |
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0.193 |
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Provision for Taxation |
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0.000 |
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Profit/(Loss) After Tax |
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0.193 |
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Expenditures : |
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Consumption |
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2.347 |
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Manufacturing Expenses |
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0.553 |
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Administrative Expenses |
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0.249 |
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Interest |
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0.297 |
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Depreciation & Amortization |
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0.138 |
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Other Expenditure |
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0.875 |
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Total Expenditure |
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4.459 |
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KEY RATIOS
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PARTICULARS |
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31.03.2008 |
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PAT / Total Income |
(%) |
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4.15 |
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Net Profit Margin (PBT/Sales) |
(%) |
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5.11 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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6.33 |
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Return on Investment (ROI) (PBT/Networth) |
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0.36 |
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Debt Equity Ratio (Total Liability/Networth) |
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4.68 |
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Current Ratio (Current Asset/Current Liability) |
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2.74 |
LOCAL AGENCY
FURTHER INFORMATION
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Additional
Requirement of Indiamart for Trust-Seal |
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Service Tax No. : -- |
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Excise Registration No.: -- |
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VAT : 27780297018 V
01.04.2006 |
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IEC Code : -- |
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PAN / TAN : AFQPB8683P |
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Bank Name : Seva Vikas Co-Operative Bank |
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Bank Address : Bhosari Branch, Pune |
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Bank A/c. No.: 135 |
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Account Since : 10 Years |
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In case of any affiliations / memberships / certifications : |
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Name : ISO 9001:2000 |
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Type : -- |
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Expiry Date : January 2009 |
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Trade References
·
Yoshika Engineering Private Limited
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Kotkar Energy Dynamics Pricol Limited
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Autoline Stamping Private Limited
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Chaphekar Engineering Private Limited
Fixed Assets
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Plant and Machinery
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Furniture and Fixture
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Motor Cycle
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Car
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Loos Tools
Web Details
Profile
They are a
professionally managed Company based in Pune, Maharashtra. With more than 10 years of experience in the
Industry, they believe that all great things began with an idea in the
mind of a man. It is from that idea that a tree is formed which eventually
bears the fruits. And so goes the thinking of every man working in company.
Poly means many and Mek means to make, and they strive to
make more and more of high quality of rubber molded and extruded products
to meet with the requirement of the clients. Formed in the year 1998 by Mrs Sangeeta Mandlik , the group has
grown substantially.
Over the years the group has served the
demands of various industries with our products like Rubber Seals, Oil
Seals, O rings, transmission mountings, bellows and engine mountings.
Thy are expanding and they intend to cover more more products.
With the major Clients like Yoshika Engg. Private Limited And Kotkar Energy
Dynamics, they present some of the best in the Industry. They have the ISO System for testing. They intend to increase the
Automobile Machinery in future..
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.18 |
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UK Pound |
1 |
Rs.75.05 |
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Euro |
1 |
Rs.60.89 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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