MIRA
INFORM REPORT
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Report Date : |
14.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
INDUSTRIAL MACHINERY AGAENCY |
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Registered Office : |
22-D, S A Brelvi Road, 112, Wadia Building, Fort, Near Bom Bay Samachar,
Press Building, Mumbai-400001, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1989 |
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IEC No.: |
0390004634 |
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PAN No.: [Permanent
Account No.] |
AAAF10657B |
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Legal Form : |
Partnership Concern With an Unlimited Liability of the Partners |
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Line of Business : |
Exporter of Machinery like Diesel Engines, Faour Mills, Rice Huller,
Electric Pump sets etc. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 5600 |
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Status : |
Small Concern |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small concern in its field. Trade relations are
fair. Scal fo activity is limited. No complaints have been heard form market
sources. The concern can be considered for small to mediocre business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Sanjay Shah |
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Designation : |
Partner |
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Contact No.: |
91-9821069113 |
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Date : |
11.11.2008 |
LOCATIONS
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Registered Office : |
22-D, S A Brelvi Road, 112, Wadia Building, Fort, Near Bom Bay
Samachar, Press Building, Mumbai-400001, Maharashtra, India |
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Tel. No.: |
91-22-22022044 |
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Mobile No.: |
91-9821069113 |
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Fax No.: |
91-22-22881086 |
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E-Mail : |
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Area : |
128 sq.ft ( Owned) |
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Branches : |
13th Parvati Sadan 41, Tilak Road Ghatkopar (East), Mumbai-400077,
Maharashtra, India |
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Tel. No.: |
91-22-25155248 |
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Fax No.: |
91-22-25162920 |
PARTNERS
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Name : |
Mr. Sanjay Shah |
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Designation : |
Partner |
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Address : |
41, Tilak Road, 13, Parvati Sadan C
Ghatkopar (East), Mumbai-400077, Maharashtra, India |
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Date of Birth/Age : |
56 Years |
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Qualification : |
BE Mechanical |
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Name : |
Mrs. Veena J Shah |
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Designation : |
Partner |
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Address : |
41, Tilak Road, 13, Parvati Sadan C
Ghatkopar (East), Mumbai-400077, Maharashtra, India |
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Date of Birth/Age : |
75 Years |
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Qualification : |
B.Com |
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Name : |
Mr. Jayantilal Manuskhlal Shah |
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Designation : |
Partner |
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Address : |
41, Tilak Road, 13, Parvati Sadan C
Ghatkopar (East), Mumbai-400077, Maharashtra, India |
BUSINESS DETAILS
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Line of Business : |
Exporter of Machinery like Diesel Engines, Faour Mills, Rice Huller,
Electric Pump sets etc. |
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Products : |
·
Industrial Diesel Engines ·
Diesel Engine Pump Set ·
Generating Sets ·
Diesel Engines (Lister Type) ·
Electric Pump Sets ·
Corn Grinding Mills ·
Marine Engines and Greaves Portable Engines ·
Electric Motor ·
Flour Mills |
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Exports : |
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Countries : |
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West Africa ·
Latin America ·
Middle East ·
South East Asia |
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Terms : |
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Selling : |
L/C and Credit ( 60 Days) |
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Purchasing : |
Cash |
GENERAL
INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
12 |
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Bankers : |
Bank of Baroda, Sir P M Raod Branch |
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Facilities : |
CC Rs. 2.200 Millions |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mahendra Maru and Company Chartered Accountant |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.123 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 1.123 Millions |
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] Share Capital |
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1.123 |
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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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1.123 |
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LOAN FUNDS |
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1] Secured Loans |
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0.173 |
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2] Unsecured Loans |
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0.000 |
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TOTAL BORROWING |
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0.173 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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1.296 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.375 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.020 |
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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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0.061 |
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Sundry Debtors |
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0.926 |
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Cash & Bank Balances |
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0.017 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.000 |
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Total
Current Assets |
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1.004 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.078 |
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Provisions |
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0.025 |
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Total
Current Liabilities |
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0.103 |
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Net Current Assets |
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0.901 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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1.296 |
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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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4.622 |
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Other Income |
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0.000 |
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Total Income |
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4.622 |
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Profit/(Loss) Before Tax |
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0.156 |
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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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0.156 |
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Expenditures : |
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Cost of Goods Sold |
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3.167 |
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Travelling Expenses |
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0.014 |
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Printing Stationery |
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0.001 |
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Advertisement |
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0.045 |
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Bank Interest |
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0.045 |
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Salaries, Wages, Bonus, etc. |
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0.274 |
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Insurance Expenses |
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0.012 |
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Depreciation & Amortization |
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0.015 |
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Other Expenditure |
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0.893 |
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Total Expenditure |
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4.466 |
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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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3.38 |
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Net Profit Margin (PBT/Sales) |
(%) |
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3.38 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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11.31 |
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Return on Investment (ROI) (PBT/Networth) |
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0.14 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.25 |
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Current Ratio (Current Asset/Current Liability) |
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9.74 |
LOCAL AGENCY
FURTHER INFORMATION
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Additional
Requirement of Indiamart for Trust-Seal |
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VAT / TIN : 27870330385V
01.04.2006 |
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IEC Code : 0390004634 |
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PAN / TAN : AAAF10657B |
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Bank Name : Bank of Baroda |
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Bank Address : Sir P M Road |
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Bank A/c. No.: 04170500000036 |
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Account Since : 1991 |
Trade References:
·
K Raheja Construction
·
Hiranandani Builders
AS PER WEBSITE
Profile:
Subject was incepted in the year 1989, by a team of reputed technical
engineers who have the complete knowledge and experience for fabricating and
manufacturing of different machines like diesel engines, sugarcane crushers,
flour mills, Rice hullers, generators, motor and pumps. These machines are at
par with the international standards and can be in specification to the details
being given by the clients. They are exported to different countries like
Africa, Latin American, Middle East and South-East Asian Countries.
They are also members of the well known and prestigious organizations in India
like Engineering Export Promotion
Council, Indian Merchant Chambers and Bombay Chamber of Commerce. This
has helped them in creating a bench mark in the industry and helped them in
winning the confidence of the clients in the national and domestic markets. Due
to the good will in the market, they have won accolades from the customers
residing in India and abroad.
Infrastructure
They have a well laid infrastructural unit which is equipped
with different precision machines, tools and equipment. The team of engineers
using these hi tech instruments and machines help them in delivering the
products of high standards. Furthermore, the entire manufacturing unit is
streamlined to ensure cost potency. The engineers and assistants conduct
regular maintenance checks and see to it that the production process is not
hampered due to any technical or mechanical reason. The machines installed in
the premises help in manufacturing of flawless products and zero defect
products.
On the whole the products manufactured by them have helped them in creating a
niche in the national and internal markets. They meet the expectations of the
clients and can be tailor made as per the needs of clients without compromising
on the quality.
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.48.79 |
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UK Pound |
1 |
Rs.75.41 |
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Euro |
1 |
Rs.61.48 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
YES |
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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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32 |
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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