MIRA
INFORM REPORT
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Report Date : |
24.11.2008 |
IDENTIFICATION DETAILS
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Name : |
ALM ENGINEERING AND INSTRUMENTATION PRIVATE LIMITED |
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Registered Office : |
A/14, Faiz, New |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
05.03.2003 |
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Com. Reg. No.: |
139466 |
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CIN No.: [Company
Identification No.] |
U29110MH2003PTC139466 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA21878D |
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PAN No.: [Permanent
Account No.] |
AAIFA2168F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Distributor of Instrumentation and Engineering
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 company having steady business. Trade
relations are reported as fair. Payments are usually correct and as per
commitment. Nothing adverse reported. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED BY
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Name : |
Mr. Sarfraz Panjwani |
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Designation : |
Managing Director |
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Contact No.: |
Mobile no. 91-9820106157 |
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Date : |
15.11.2008 |
LOCATIONS
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Registered Office : |
A/14, Faiz, New |
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Tel. No.: |
91-22-25126700/ 900 |
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Mobile No.: |
91-9833140352/ 9820106157 |
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Fax No.: |
91-22-25126700 |
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E-Mail : |
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Website : |
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Area : |
550 sq ft |
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Location : |
Owned |
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Head Office : |
304, Damji Shamji Industrial Complex, LBS Marg, Kurla (West), Mumbai –
400 070, |
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Tel. No.: |
91-22-25126700/ 25126900/ 25126500 |
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Fax No.: |
91-22-25126700/ 25123020 |
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Factory : |
NIDC, Cross Road, Andheri, Mumbai, |
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Area : |
750 sq ft |
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Location : |
Owned |
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Branches : |
Located at:
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DIRECTORS
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Name : |
Mr. Sarfraz Hussain Panjwani |
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Designation : |
Director |
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Address : |
A/14, Faiz Co-operative Housing Society Limited, New |
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Date of Birth/Age : |
29.09.1967 |
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Qualification : |
Mech. |
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Date of Appointment : |
05.03.2003 |
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Name : |
Ms. Roshanali Panjwani |
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Designation : |
Director |
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Address : |
A/14, Faiz Co-operative Housing Society Limited, New |
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Date of Birth/Age : |
22.10.1942 |
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Date of Appointment : |
05.03.2003 |
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Name : |
Mrs. Mariambanu Panjwani |
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Designation : |
Director |
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Address : |
A/14, Faiz Co-operative Housing Society Limited, New |
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Date of Birth/Age : |
05.07.1948 |
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Qualification : |
S.S.C. |
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Date of Appointment : |
05.03.2003 |
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Name : |
Mrs. Rahmat Ilahi Panjwani |
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Designation : |
Director |
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Address : |
A/14, Faiz Co-operative Housing Society Limited, New |
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Date of Birth/Age : |
09.03.1975 |
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Qualification : |
H.S.C. |
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Date of Appointment : |
05.03.2003 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2006
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Names of Shareholders |
No. of Shares |
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Roshanali Panjwani |
1000 |
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Mariambanu Panjwani |
4000 |
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Sarfraz Hussain Panjwani |
4000 |
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Rahmat Ilahi Panjwani |
1000 |
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Total |
10000 |
As on 30.09.2006
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Distributor of Instrumentation and Engineering
Products. |
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Products : |
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Exports : |
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Products : |
Instrumentation and Engineering Products |
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Countries : |
Singapore, U.A.E., Kuwait,
Bangladesh, Nepal, Iraq, Sri Lanka, Middle East, Africa, South Asia, South
America and Europe |
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Imports : |
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Products : |
Instrumentation and Engineering Products |
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Countries : |
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Terms : |
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Selling : |
Credit 30 days and Advance |
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Purchasing : |
Credit 60 days |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, End Users, OEM’s and Contractors
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No. of Employees : |
56 (In office – 35, In factory – 15, In branches – 6) |
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Bankers : |
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Facilities : |
Unsecured Loans :
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
N.L. Mehta and Associates Chartered Accountants |
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Address : |
C/ 3, |
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Memberships : |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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50.000 |
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Expected Sales (2008-09): Rs.65.000 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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0.100 |
0.100 |
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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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0.404 |
0.144 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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0.504 |
0.244 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.650 |
0.420 |
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TOTAL BORROWING |
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0.650 |
0.420 |
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DEFERRED TAX LIABILITIES |
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0.019 |
0.005 |
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TOTAL |
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1.173 |
0.669 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.369 |
0.051 |
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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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0.000 |
0.000 |
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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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0.182 |
0.083 |
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Sundry Debtors |
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1.825 |
0.590 |
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Cash & Bank Balances |
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0.058 |
0.000 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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0.734 |
0.929 |
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Total
Current Assets |
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2.799 |
1.602 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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1.605 |
0.624 |
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Provisions |
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0.402 |
0.375 |
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Total
Current Liabilities |
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2.007 |
0.999 |
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Net Current Assets |
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0.792 |
0.603 |
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MISCELLANEOUS EXPENSES |
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0.012 |
0.015 |
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TOTAL |
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1.173 |
0.669 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover and Service Charges |
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14.573 |
7.103 |
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Total Income |
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14.573 |
7.103 |
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Profit/(Loss) Before Tax |
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0.410 |
0.214 |
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Provision for Taxation |
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0.150 |
0.081 |
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Profit/(Loss) After Tax |
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0.260 |
0.133 |
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Expenditures : |
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Administrative Expenses |
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3.256 |
2.119 |
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Raw Material Consumed |
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10.833 |
4.765 |
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Depreciation & Amortization |
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0.074 |
0.005 |
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Total Expenditure |
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14.163 |
6.889 |
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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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1.78 |
1.87 |
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Net Profit Margin (PBT/Sales) |
(%) |
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2.81 |
3.01 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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12.94 |
12.95 |
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Return on Investment (ROI) (PBT/Networth) |
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0.81 |
0.88 |
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Debt Equity Ratio (Total Liability/Networth) |
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5.27 |
5.82 |
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Current Ratio (Current Asset/Current Liability) |
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1.39 |
1.60 |
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCES:
- Suvidha
Engineering India Limited,
- Clenzaids
Contamination Control Private Limited,
FIXED ASSETS:
- Computers and Printers
- Furniture and Fixtures
- Panasonic Projector
- Security Cont. System
- Water Cooler
WEBSITE DETAILS:
PROFILE:
Subject is an offshoot of ALM Group of companies run under the able guidance of Sarfraz Hussain R. Panjwani, a well qualified mechanical engineer from Mumbai. They have emerged as a renowned manufacturer, exporter and importer of all kinds of acrylic and glass tube manometers, rotameters, sight glass, level indicators, differential and absolute pressure, temperature, humidity flow and level instruments, process instruments, etc. The excellent entrepreneurship and good enterprising skill is their core strength, based on which they perform the tasks with distinction.
They possess a wide range of
measuring instruments which includes Pressure Transmitters, Differential Pressure Transmitters, Electronic
Pressure Switches, Pressure Level Transmitters, Overpressure and Vacuum
Switches, Differential Pressure Switches, Digital Indicating Devices, Force
Cells, Pressure Measuring Cells, etc. These measuring gadgets are manufactured and
exported to numerous countries in the Middle East, Africa, Europe, South Asia
and
The range of
measuring instruments are catered to various industries like HVAC,
pharmaceuticals, semiconductors, chemicals, electronics, power plants,
pollution control, dust collection systems, etc. They specialize in the testing
and calibration of instruments like manometers, differential pressure
instruments, anemometers, airborne particle counters and aerosol photometers.
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.03 |
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1 |
Rs.74.42 |
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Euro |
1 |
Rs.62.71 |
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 |
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 |
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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