MIRA
INFORM REPORTS
|
Report Date : |
19.11.2008 |
IDENTIFICATION
DETAILS
|
Name : |
NAKODA MACHINERY PRIVATE LIMITED |
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Registered Office : |
A4/5, Raj Chambers, Kotta Stand, Ahmednagar 414001,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
31.03.2004 |
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Com. Reg. No.: |
019071 |
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CIN No.: [Company
Identification No.] |
U29259PN2004PTC019071 |
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IEC No.: |
3104001758 |
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PAN No.: [Permanent
Account No.] |
AABCN9055E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Trader, Importer and Distributors of Industrial Carbides Iscar Israil, Pneumatic Tools- Chicapo Pneumatic, Power Tools-Hitachi, Welding Equipment, Rods- L and T Fronius, Air Compressors- Elgi, Button Bits- Widia, Carbides- Kenya Metal and Electronics. |
RATING &
COMMENTS
|
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 440000 |
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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 having satisfactory
track. Directors are reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are usually
correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Kamlesh Jain |
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Designation : |
Managing Director |
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Contact No.: |
91-9422222388 |
LOCATIONS
|
Registered Office : |
A4/5, Raj Chambers, Kotta Stand, Ahmednagar 414001,
Maharashtra, India |
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Tel. No.: |
91-241-2353366 / 2417410 |
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Fax No.: |
91-241-2341452 |
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E-Mail : |
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Website : |
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Area : |
1200sq.fts |
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Location : |
Owned |
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Factory / Warehouse : |
D 34, MIDC, Ahmednagar 414111, India |
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Tel. No.: |
91-241-2417412 |
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Fax No.: |
91-241-2417412 |
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Area : |
25000sq.fts |
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Location : |
Owned |
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Head Office/ Branches : |
51, Sant Ramdas HSG Society, Santnagar, Off Satara Road, Pune 411009
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Tel. No.: |
91-20-24229600 / 2424333 |
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Fax No.: |
91-20-24225229 |
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Mobile No.: |
91-9422222388 |
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E-Mail : |
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Area : |
2500sq.fts |
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Location : |
Owned |
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Residence
Address : |
· E-504, Hyde
Park, Market Yard, Pune - 411037,
India Area: 1925 sq. ft. Locations : Owned · 4 Shivaji
Housing, Near Dharmik Pariksha Board, Ahmedabad 414001, India Area: 3500 sq. ft. Locations : Owned |
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Branch Office : |
· No.99, 42nd
Cross, 8th Block, Jayanagar, Bangalore 560070 Tel No.: 91-80-22441726 Email : blr@irt.co.in · C-403, Swapana
Sagar, C H S Balrajeshwar Road, Mumbai 400080, India Tel No.: 91-22-25918279/ 9820102125 · 11 Koshi Shoping
Complex, Seven Hills, Jalna Road, Aurangabad 431001 Tel No.: 91-240-2350595 · No.462,
Vazhadour Road, (Ground Floor), Muthirapaiayam, Pondicherry 605009, India |
DIRECTORS
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Name : |
Mr. Kamlesh Kanwarlal Jain |
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Designation : |
Director |
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Address : |
4, Shivaji Housing Society, Burudgaon Road, Ahmed Nagar,
Maharashtra |
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Date of Birth : |
01.07.1962 |
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Qualification : |
Post Graduate |
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Experience : |
20 Years |
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Date of Appointment : |
29.03.2004 |
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Tel. No.: |
91-20-24231202 |
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Mobile No.: |
91-9422222388 |
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Fax No.: |
91-20-2422333 |
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Name : |
Mr. Jitendra Kamlesh Jain |
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Designation : |
Director |
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Address : |
4, Shivaji Housing Society, Burudgaon Road, Ahmed Nagar,
Maharashtra |
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Date of Birth : |
11.04.1969 |
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Qualification : |
Post Graduate |
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Experience : |
14 Years |
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Date of Appointment : |
29.03.2004 |
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Name : |
Mr. Kiran Kamlesh Jain |
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Designation : |
Director |
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Address : |
4, Shivaji Housing Society, Burudgaon Road, Ahmed Nagar,
Maharashtra |
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Date of Birth : |
28.05.1971 |
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Qualification : |
B.E. (Mech), MBA |
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Experience : |
10 Years |
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Date of Appointment : |
29.03.2004 |
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Name : |
Mrs. Rohini Kamlesh Jain |
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Designation : |
Director |
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Address : |
4, Shivaji Housing Society, Burudgaon Road, Ahmed Nagar,
Maharashtra |
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Date of Birth : |
03.03.1965 |
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Qualification : |
Post Graduate |
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Experience : |
7 Years |
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Date of Appointment : |
29.03.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 29.09.2005)
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Names of Shareholders |
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No. of Shares |
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Mr. Kamlesh Kanwarlal Jain |
|
1550 |
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Mr. Kiran Kamlesh Jain |
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1550 |
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Mr. Jitendra Kamlesh Jain |
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1550 |
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Mrs. Rohini Kamlesh Jain |
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250 |
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Mrs. Chandabai M Doshi |
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2 |
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Mrs. Sangita Doshi |
|
1 |
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Mr. Sureshchand M. Doshi |
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1 |
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Mr. Vimalchandji M Doshi |
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1 |
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Mr. Mahakchandji Doshi |
|
1 |
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Mr. Omprakash Sharma |
|
1 |
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Mr. Rajmal Sharma |
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1 |
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Mr. Omprakash Singhal |
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1 |
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Mr. Prakashchand Jain (HUF) |
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1 |
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Mr. Sajansingh Khator |
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1 |
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Mrs. Sumitra Devi Garg |
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1 |
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Mr. Pradeepkumar Jindal |
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1 |
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Mr. Tarachand B Jain |
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1 |
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Total |
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4915 |
(As on 31.03.2007)
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Category |
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Percentage |
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Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Trader, Importer and Distributors of Industrial Carbides Iscar Israil, Pneumatic Tools- Chicapo Pneumatic, Power Tools-Hitachi, Welding Equipment, Rods- L and T Fronius, Air Compressors- Elgi, Button Bits- Widia, Carbides- Kenya Metal and Electronics. |
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Products : |
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Brand Name : |
INDUS ROCK TOOL |
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Agencies Held : |
· Betek Carbides,
Germany · Msb Corporation,
Korea · Juniin CSM- For
Top Hammer Crawler Drill · Doosan
International India Private Limited |
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Imports : |
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Products : |
Hydraulic Rock Breaker |
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Countries : |
· South Korea · Germany |
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Terms : |
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Purchasing : |
Credit (60 days / 90 days) |
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Selling : |
L/C, Cash (90 days) |
PRODUCTION STATUS
|
Particulars |
Installed
Capacity |
Actual
Production |
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DTH Hammers |
40 Pcs/ per month |
20-35 Pcs/per month |
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Button |
400 Pcs/per month |
-- |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
56 (38 Office, 18 Factory) |
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Bankers : |
Hotel Sanket, Station Road, Ahmednagar, India |
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Facilities : |
Secured Loans HDFC (Car Loan) Rs.0.146
Million Unsecured Loans From Directors Rs.15.292
Millions From Directors Relatives, Members and Others Rs.5.929 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
M.S. Barmecha and Company Chartered Accountants |
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Address : |
201/B, 2nd Floor, Mutha Chambers, Old Vasant Talkies,
Maliwada, Ahmednagar 414001, Maharashtra, India |
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Tel. No.: |
91-241-2417522 |
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Associates/Subsidiaries : |
Indus Rock Tool Address: P 17, MIDC, Ahmednagar, India Line of Business: Manufacturing Alligator, Crawller Drill and Spares Nakoda Trading Company A4/5, Raj Chambers Kotala Stand, Ahmednagar, Maharashtra, India Line of Business: Industrial Product Selling Shri Nakoda
Enterprises A 4 /5, Raj Chambers, Kotala Stand, Ahmednagar, Maharashtra, India Line of Business: Mining Equipments |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
|
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|
20000 |
Equity Shares |
Rs.100/- each |
Rs.2.000 millions |
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Issued, Subscribed
& Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
9915 |
Equity Shares |
Rs.100/- each |
Rs.0.992 million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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|
SHAREHOLDERS FUNDS |
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1] Share Capital |
0.991 |
0.491 |
0.491 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
87.134 |
19.729 |
3.539 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
88.125 |
20.220 |
4.030 |
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LOAN FUNDS |
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1] Secured Loans |
0.146 |
0.275 |
0.471 |
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2] Unsecured Loans |
21.221 |
18.378 |
13.293 |
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TOTAL BORROWING |
21.367 |
18.653 |
13.764 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
109.492 |
38.873 |
17.794 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.331 |
2.687 |
2.257 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
31.237 |
12.490 |
2.224 |
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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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|
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Inventories |
0.000
|
0.000
|
0.000 |
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Sundry Debtors |
36.976
|
34.221
|
11.387 |
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Cash & Bank Balances |
7.261
|
5.869
|
19.590 |
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Other Current Assets |
28.847
|
18.404
|
3.875 |
|
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Loans & Advances |
17.188
|
2.302
|
0.359 |
|
Total
Current Assets |
90.272
|
60.796
|
35.211 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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Current Liabilities |
15.378
|
37.162
|
19.441 |
|
|
Provisions |
0.000
|
0.000
|
2.548 |
|
Total
Current Liabilities |
15.378
|
37.162
|
21.989 |
|
|
Net Current Assets |
74.894
|
23.634
|
13.222 |
|
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MISCELLANEOUS EXPENSES |
0.030 |
0.062 |
0.091 |
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TOTAL |
109.492 |
38.873 |
17.794 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
269.059 |
157.316 |
81.699 |
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Other Income |
0.000 |
0.000 |
0.000 |
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Total Income |
269.059 |
157.316 |
81.699 |
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Profit/(Loss) Before Tax |
67.603 |
24.617 |
3.275 |
|
|
Provision for Taxation |
0.000 |
0.000 |
0.000 |
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|
Profit/(Loss) After Tax |
67.603 |
24.617 |
3.275 |
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Expenditures : |
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|
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Interest |
2.446 |
2.183 |
1.810 |
|
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Depreciation |
0.741 |
0.561 |
0.484 |
|
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Other Expenditure |
198.269 |
129.955 |
76.130 |
|
Total Expenditure |
201.456 |
132.699 |
78.424 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
31.03.2006 |
|
PAT / Total Income |
(%) |
25.12
|
15.65
|
4.01 |
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Net Profit Margin (PBT/Sales) |
(%) |
25.12
|
15.65
|
4.01 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
72.22
|
38.78
|
8.74 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.77
|
1.22
|
0.81 |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.42
|
2.76
|
8.87 |
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Current Ratio (Current Asset/Current Liability) |
|
5.87
|
1.63
|
1.60 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
·
M.S.B. Corporation, Korea
·
Betek, Germany
·
Doosan Infrocom Chennai
·
Axis Bank Limited, Ahmedabad
·
Bank of Baroda, Ahmedabad
Subject is authorised
dealers for:
· Larsen and Toubro Limited for their 3 major Division Eutectric, Automation, Switchgear.
· Atlas Capco. India Limited - Chicago Tools
· T. I. Diamond Roller and Transmission Chain
· Shiballoy Rotary Burr
· Widia India. Limited Button Bits
· Kenya Metal India Carbides
· Iscar Carbides
· Electronica Carbides
· Hitachi Koki- Power Tools
· Edicon Mining - - Pneumatic Tools
Fixed Assets:
· MIDC Shed
· Plant and Machinery
· Pattern and Dies
· Tools and Trackless
· Electrical Installations
· Furniture and Fixture
· Fax Machine
· Telephone and Mobile
· Computer
· Motor Cycles
AS PER WEB SITE
DETAILS:
CATEGORY MAPPINGS
Air, Gas and Other Compressors
Engaged in manufacturing and supplying air compressor spares aparts, air compressors, rock drills, jack hammers, concrete breakers, chipping hammers, drill rods, extension rods, sump pumps, diaphragm pumps, drifters, chipping hammers, drill rods etc.
Engaged in manufacturing and supplying air compressors, air compressor spare parts. Also exports crawler drill, crawler drill spares, DTH hammers, button bits, rock drilling equipments, rock breaking equipments etc.
Others
Air Compressor Parts
Manufacturing and exporting drilling equipments, rock drilling equipments, rock breaking equipments, tunneling equipment, drifter bits, chisel, moil points, carbide wear parts, construction tools, rock drills, jack hammers, concrete breakers etc.
Engaged in manufacturing and supplying rock drill bits, button bits, rock drilling equipments, rock breaking equipments, drifter bits, chisel, moil points, carbide wear parts, rock drills, jack hammers, concrete breakers etc.
Others
Rock Drilling Tools, Crawler Drill, DTH Hammers, Rock Breaking Tools, Tunneling Tools
Engaged in manufacturing and exporting construction tools such as crawler drill, crawler drill spares, DTH hammers, button bits, drifter bits, chisel, moil points, carbide wear parts, hydraulic rock breakers, rock drills, jack hammers, concrete breakers.
Manufacturers and exporters of DTH hammers, rock drilling equipments, rock breaking equipments, tunneling equipment, drifter bits, chisel, moil points, hydraulic rock breakers, rock drills, jack hammers, concrete breakers, chipping hammers etc.
Manufacturers and exporters of diaphragnm pumps, sump pumps, concrete breakers, chipping hammers, drill rods, extension rods, hydraulic rock breakers, rock drills, jack hammers, crawler drill, crawler drill spares etc.
Manufacturing and exporting sump pumps, diaphragm pumps, hydraulic rock breakers, rock drills, jack hammers, concrete breakers, chipping hammers, drill rods, extension rods, drifter bits, chisel, moil points, carbide wear parts etc.
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 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 :
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 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.49.68 |
|
UK Pound |
1 |
Rs. 74.40 |
|
Euro |
1 |
Rs. 62.58 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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/normal. |
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 |
|