MIRA
INFORM REPORT
|
Report Date : |
11.11.2008 |
IDENTIFICATION
DETAILS
|
Name : |
MICRO PRECISION PRODUCTS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
F – 62, Okhla Industrial Area, Phase – I, New Delhi – 110020 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
09.11.1979 |
|
|
|
|
Com. Reg. No.: |
55-9981 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U74899DL1979PTC009981 |
|
|
|
|
IEC No.: |
0597058610 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELM08791G |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACM8433C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of Fluid Metering Devices |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 100000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and reputed company having satisfactory
track. Trade relations are fair. Payments are usually correct and as per
commitments. Financial position of the company is goods. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Lakshman Bhardwaj |
|
Designation : |
Accountant |
|
Date : |
07.11.2008 |
LOCATIONS
|
Registered Office : |
F – 32, Okhla Industrial Area, Phase – I, New Delhi – 110020, India |
|
Mobile No.: |
91-9810035304 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory 1: |
3, Link Road, Sector 28, Faridabad – 121001, Haryana, India |
|
Tel. No.: |
91-129-4042791/ 4042792/ 93 |
|
Fax No.: |
91-9810035304 |
|
E-Mail : |
91-129-4043221 |
|
Email : |
|
|
Location : |
Owned |
|
|
|
|
Factory 2: |
Plot No.85, DLF Industrial Area, Phase – I, Faridabad – 121003, India |
|
Location : |
Owned |
DIRECTORS
|
Name : |
Mr. Kul Prakash Chandhok |
|
Designation : |
Director |
|
Address : |
H -30, Sainik Farms, New Delhi – 110062, India |
|
Date of Birth/Age : |
12.05.1937 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
09.11.1979 |
|
|
|
|
Name : |
Mrs. Aruna Chandhok |
|
Designation : |
Director |
|
Address : |
H -30, Sainik Farms, New Delhi – 110062, India |
|
Date of Birth/Age : |
09.07.1946 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
30.08.2000 |
|
|
|
|
Name : |
Mr. Atul Chandhok |
|
Designation : |
Director |
|
Address : |
H -30, Sainik Farms, New Delhi – 110062, India |
|
Date of Birth/Age : |
18.05.1966 |
|
Qualification : |
B. Com |
|
Date of Appointment : |
27.10.1986 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 29.09.2007)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Kul Prakash Chandhok |
|
1155 |
|
Aruna Chandhok |
|
1155 |
|
Atul Chandhok |
|
1155 |
|
|
|
|
|
Total |
|
3465 |
(As on 31.03.2007)
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Fluid Metering Devices |
||||||||||
|
|
|
||||||||||
|
Products : |
|
||||||||||
|
|
|
||||||||||
|
Exports : |
|
||||||||||
|
Products : |
Value Manifolds Forged Fittings |
||||||||||
|
Countries : |
|
||||||||||
|
|
|
||||||||||
|
Imports : |
|
||||||||||
|
Products : |
Raw Materials |
||||||||||
|
Countries : |
|
||||||||||
|
|
|
||||||||||
|
Terms : |
|
||||||||||
|
Selling : |
L/C, Cash and Credit (30 days) |
||||||||||
|
|
|
||||||||||
|
Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS
|
Particulars |
Unit |
Actual
Production |
|
|
|
|
|
Finished Goods Items |
Nos. |
15766 |
|
|
|
|
GENERAL
INFORMATION
|
Customers : |
Manufacturing Unit
|
||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
220 |
||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||
|
Bankers : |
Gole Market, New Delhi, India |
||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||||
|
Banking Relations
: |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
A.V. Ravindranath Chartered Accountant |
|
Address : |
25, Anand Lok, 2nd Floor, New Delhi – 110049, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3500 |
Equity Shares |
Rs.100/- each |
Rs.0.350 Million |
|
1500 |
Preference Shares |
Rs.100/- each |
Rs.0.150 Million |
|
|
|
|
|
|
|
Total |
|
Rs.0.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3465 |
Equity Shares |
Rs.100/- each |
Rs.0.347
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.347 |
0.347 |
0.347 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
19.730 |
20.919 |
20.649 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
20.077 |
21.266 |
20.996 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
27.179 |
20.039 |
0.450 |
|
|
2] Unsecured Loans |
11.253 |
12.502 |
5.000 |
|
|
TOTAL BORROWING |
38.432 |
32.541 |
5.450 |
|
|
DEFERRED TAX LIABILITIES |
0.218 |
0.264 |
0.053 |
|
|
|
|
|
|
|
|
TOTAL |
58.727 |
54.071 |
26.499 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
22.923 |
24.443 |
2.107 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
27.896
|
14.109 |
14.643 |
|
|
Sundry Debtors |
25.623
|
23.306 |
12.412 |
|
|
Cash & Bank Balances |
7.872
|
8.905 |
9.180 |
|
|
Other Current Assets |
0.833
|
0.400 |
0.241 |
|
|
Loans & Advances |
1.113
|
4.105 |
1.955 |
|
Total
Current Assets |
63.337
|
50.825 |
38.431 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
27.339
|
21.135 |
14.039 |
|
|
Provisions |
0.194
|
0.062 |
0.000 |
|
Total
Current Liabilities |
27.533
|
21.197 |
14.039 |
|
|
Net Current Assets |
35.804
|
29.628 |
24.392 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
58.727 |
54.071 |
26.499 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
Sales Turnover |
|
120.629 |
93.952 |
|
Other Income |
|
0.000 |
0.000 |
|
Total Income |
|
120.629 |
93.952 |
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
15.872 |
17.878 |
|
Provision for Taxation |
|
5.773 |
6.320 |
|
Profit/(Loss) After Tax |
|
10.099 |
11.558 |
|
|
|
|
|
|
Export Value |
|
53.464 |
33.160 |
|
|
|
|
|
|
Total Expenditure |
|
104.757 |
76.074 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
8.37
|
12.30 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.16
|
19.03 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.40
|
23.75 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.79
|
0.84 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.29
|
2.53 |
0.93 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.30
|
2.40 |
2.74 |
LOCAL AGENCY
FURTHER INFORMATION
|
Additional
Requirement of Indiamart for Trust-Seal |
|
|
|
Excise Registration No.: AAACM8433CXM001 |
|
VAT / TIN : 06621212502 |
|
IEC Code : 0597058610 |
|
|
|
PAN / TAN : AAACM8433C |
|
|
|
Bank Name : Canara
Bank |
|
Bank Address : Gole
Market, New Delhi |
|
Bank A/c. No.: 2222 |
|
Account Since : 10
years |
|
|
|
In case of any affiliations / memberships / certifications
: |
|
Name : BSI
Management Systems |
|
Type : ISO 14001:2004 |
|
Expiry Date : EMS 531369 |
|
|
|
Name : DET Norske
Veritas |
|
Type : ISO
9001:2000 |
|
Expiry Date : 1311-2007-AQ-IND-NABCB |
Note:
The Registered Office of the company has been shifted from 51, Adchini, Aurobindo
Marg, New Delhi – 110017, India to the present address w.e.f. 23.11.2007
Trade Reference:
- L and T
- BHEL (Bharat
Heavy Electrical Limited)
Fixed Assets:
- Land
- Building
- Shed
- Vehicles
- Plant and
Machinery
- Computers
- Furniture and
Fixtures
Website Details:
Company Profile
Subject Group of Companies started in India in 1968 by Mr. K.P.
Chandhok. A Mechanical Engineer from University of Michigan, he worked in the
design department of the Boeing Company before returning to India to set up a factory
in the industrial town of Faridabad, a satellite city of New Delhi, Capital of
India. The product line started with design and manufacture of fluid metering
devices like Flow Nozzles and Orifice Plates and expanded to manufacture range
of Valve Manifolds, Instrumentation valves, fittings, forging and Thermowells.
Company has Sales and Service Representatives in all major cities of India.
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.47.32 |
|
UK Pound |
1 |
Rs.74.20 |
|
Euro |
1 |
Rs.60.73 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
63 |
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 |
|