MIRA
INFORM REPORT
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Report Date : |
02.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
MICROPARTICLE ENGINEERS PRIVATE LIMITED |
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Registered Office : |
15, Kuppair Street, Kondithopu, Chennai-600108, Tamil Nadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
13.01.1992 |
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Com. Reg. No.: |
18-21999 |
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CIN No.: [Company
Identification No.] |
U29130TN1992PTC021999 |
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PAN No. |
AACCM9332L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Blender,
Mixing, Equipments for Painting Industry |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a 20 years old company having moderate track. Its network has
been eroded. Payments are reported as slow and delayed. The company can be considered for any business dealings on fully safe
and secured terms only. |
INFORMATION PARTED
BY
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Name : |
Mr. Faranch |
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Designation : |
Account Manager |
LOCATIONS
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Registered Office : |
15, Kuppair Street, Kondithopu, Chennai-600108, Tamil Nadu, India |
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Tel. No.: |
91-44-26427972/26650423/26252019 |
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Mobile No.: |
91-9841091929 |
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Fax No.: |
91-44-43548949/28193068 |
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E-Mail : |
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Location: |
Owned |
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Administrative Office: |
298, 4th Floor, Fountain Plaza, Panthoom Road, Egmore, Chennai-600008,
Tamil Nadu, India |
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Tel. No.: |
91-44-28263068 |
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Location : |
Owned |
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Corporate Office
: |
New No. 35, First Street, Secretariat Colony, Kellys Kilpauk,
Chennai-600108, Tamilnadu, India |
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Tel No.: |
91-44-26427972 / 26650423 / 26252019 |
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Mobile No.: |
91-9841091929 |
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Fax No.: |
91-44-43548949 / 28193068 |
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E-Mail: |
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Factory 1: |
S P118,19 Phase, 3rd Main Road, Ambtur Industrial Estate
Chennai-600058, Tamil Nadu , India |
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Factory 2 |
Shed No. 150 Trivalisai Industrial Estate Chennai-600058, Tamil Nadu,
India |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. S Sounder |
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Designation : |
Director |
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Address : |
No.38, 1st Street, Secretariat Colony, Kellys,
Chennai-600010, Tamil Nadu India |
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Date of Birth/Age : |
54 years |
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Qualification : |
B.F.E |
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Date of Appointment : |
13.01.1992 |
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Name : |
Mrs. S Vasanthakumari |
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Designation : |
Director |
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Address : |
35/36, 1st Street, Secretariat Colony, Chennai-600010,
Tamil Nadu, India |
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Date of Birth/Age : |
27.05.1957 |
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Qualification : |
B.F.E |
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Date of Appointment : |
28.12.2006 |
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Name : |
Mr. Siddharthan |
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Designation : |
Director |
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Address : |
No .3, 6th Street, T.V.S Nagar Padi, Chennai-600050,
Tamilnadu, India |
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Date of Appointment : |
01.05.1998 |
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Name : |
Mr. Velayudam |
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Designation : |
Director |
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Address : |
No.15, Kuppiah Street, Sowcarpet, Chennai-600079, Tamil Nadu, India |
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Date of Appointment : |
01.05.1998 |
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Date of Ceasing: |
25.02.2003 |
KEY EXECUTIVES
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Name : |
Mr. Faranch |
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Designation : |
Account Manager |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders (As On 29.09.2007) |
No. of Shares |
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Mr. S Soundar |
2050 |
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Mr. Senthamaraj Munusamy |
1500 |
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Mr. Chandrasekaran |
10 |
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Mrs. Vasantha kumari |
850 |
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Mr. Siddharthan |
1400 |
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Mr. Velayudam |
1250 |
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Mr. Sudaresan |
925 |
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Ms.Kasthuri Ammal |
950 |
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Mr. Ezhil |
900 |
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Ms. Sarala |
1000 |
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Ms. Rani Ammal |
950 |
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Ms. Pari |
1100 |
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Ms.Nilavoli |
925 |
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Mr. Vedhambiga |
1100 |
Equity Share Break up (as on 29.09.2007)
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Particulars |
Percentage |
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Directors or relatives of directors |
90.000 |
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Other top fifty share holders |
10.000 |
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Total |
100.000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Blender, Mixing,
Equipments for Painting Industry |
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Products : |
· Attritor · Ball Mill · Jar Mill · Sand Mill · Triple Roll Mill · Basket Mill · Single Roll Mill · Heating Kettle · Rubber Mixer · Sigma Mixer · High Speed Mixer · Ribbon Blender · Planetary Mixer · Pelletizer · Colloid Mill · Twin Shaft Mixer · Suspended Mixer · Nauta Mixer · Agitator Mill · Edge Runner · Trefoil Blade Mixer · Sifter Mixer · ‘Y’ Blender · Horizontal Bead Mill |
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Exports : |
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Products : |
Blender and Mixing Equipments |
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Countries : |
Mid East countries, UK, Europe |
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Terms : |
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Selling : |
Credit 50% Advance Order, 50% on dispatch |
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Purchasing : |
Credit (30 days/60 days/90 days) |
GENERAL
INFORMATION
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Suppliers : |
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Customers : |
Retailers:
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No. of Employees : |
12 |
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Bankers : |
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Auditors : |
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Name : |
Mr. P S Kamalakara Roa and Company (Chartered Accountant) |
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Address : |
77/19, C P Ramasamy Road, Shopping Complex, 2nd Floor,Alwarpet,
Chennai-600018, Tamil Nadu, India |
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Associates/Subsidiaries : |
Agitator, Chennai, Tamil Nadu, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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15000 |
Equity Shares |
Rs.100/- each |
Rs.1.500 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
14900 |
Equity Shares |
Rs.100/-
each |
Rs.1.490
millions |
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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14.000 |
Expected Sales (2008-09) Rs.20.000 millions
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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1.490 |
1.490 |
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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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0.000 |
0.000 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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1.490 |
1.490 |
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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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0.000 |
0.000 |
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TOTAL BORROWING |
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0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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1.490 |
1.490 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.621 |
0.649 |
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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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0.331 |
0.168 |
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Sundry Debtors |
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1.382 |
0.254 |
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Cash & Bank Balances |
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0.118 |
0.182 |
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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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0.231 |
0.035 |
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Total
Current Assets |
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2.062 |
0.639 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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3.391 |
1.992 |
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Provisions |
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0.010 |
0.017 |
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Total
Current Liabilities |
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3.401 |
2.009 |
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Net Current Assets |
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(1.339) |
(1.370) |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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Profit and Loss Account |
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2.208 |
2.211 |
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TOTAL |
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1.490 |
1.490 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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10.430 |
8.678 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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10.430 |
8.678 |
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Profit/(Loss) Before Tax |
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0.013 |
0.030 |
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Provision for Taxation |
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0.010 |
0.017 |
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Profit/(Loss) After Tax |
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0.003 |
0.013 |
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Earnings in Foreign Currency : |
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Export Earnings |
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1.240 |
3.546 |
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Expenditures : |
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Depreciation & Amortization |
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0.028 |
0.030 |
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Other Expenditure |
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10.389 |
8.618 |
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Total Expenditure |
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10.417 |
8.648 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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0.029 |
0.150 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.125 |
0.346 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.630 |
4.690 |
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Return on Investment (ROI) (PBT/Networth) |
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0.018 |
0.042 |
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Debt Equity Ratio (Total Liability/Networth) |
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4.737 |
2.786 |
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Current Ratio (Current Asset/Current Liability) |
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0.606 |
0.318 |
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART
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Parameters |
Details |
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Existence Verification: |
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Name |
Microparticle
Engineer Private Limited |
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Address: |
New No.35, First Street Secretariat Colony,
Keelys Kilpauk, Chennai-600108, Tamil Nadu, India |
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Statutory Approvals: |
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Income Tax Registration |
AACCM9332L |
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Central Sales Tax Registration |
615270-DT 02.03.1993 |
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VAT/TIN Registration |
33700440814 |
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Import Export Code |
0493006508 |
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Name of the Bank |
HSBC Bank |
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Current Account Number |
138/119359/001 |
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Account Since |
2007 |
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Credibility Factors: |
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Indiamart Client Since |
5 years |
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Year of Establishment |
1986 |
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Standards and Certifications: |
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Quality Management System |
They have apply for it |
Trade References:
- Tecno Driver and Controls, Chennai
- Megno System, Chennai
- Satelie Metals, Mumbai
WEBSITE Details:-
They have been servicing the coatings, chemicals, pharmaceuticals and cosmetics industries since 1985.
The key feature of MIKRONS® products is the simplicity of design which helps to keep down the cost. Off the shelf, highest quality components are used throughout. Motors, pulleys, lubrication system, belts, bearings, ball valves, butterfly valves, hydraulics, instruments and controls are all standard components, which are readily available at their stock.
Products
Manufactured using a stringent manufacturing process, the brand name of their product is "Mikrons". Some of their products includes:
· Attritor
· Ball Mill
· Jar Mill
· Sand Mill
· Triple Roll Mill
· Basket Mill
· Single Roll Mill
· Heating Kettle
· Rubber Mixer
· Sigma Mixer
· High Speed Mixer
· Ribbon Blender
· Planetary Mixer
· Pelletizer
· Colloid Mill
· Twin Shaft Mixer
· Suspended Mixer
· Nauta Mixer
· Agitator Mill
· Edge Runner
· Trefoil Blade Mixer
· Sifter Mixer
· ‘Y’ Blender
· Horizontal Bead Mill
Strengths
Quality
A Quality conscious company, they adhere to the international norms of
quality. Special attention is laid on the procurement of raw materials and each
level of the manufacturing process is carefully monitored by their QCs. Only
after their products are subjected to multiple quality assurance tests, do they
consider them ready to be delivered.
Infrastructure
They have a competent and self-reliant infrastructure to take care of any
kind of bulk order. The well-trained factory personnel maintain a high level of
production, while exercising safety and precaution. Apart from the standard
range of machines, they cater to the customized needs and tailor-make the
products according to customers' specifications. They have equipped their
production unit with the hi-tech machines and sophisticated technology. This
enables them to deliver the goods in least possible lead time.
Clients
With the design support and prompt post-sales service, they have won the confidence of numerous clients in India and abroad. Their clients include some of the most reputed names in the Chemical industry. They have carved a niche in countries like China, Sri Lanka, Nigeria, Bangladesh, Thailand, Indonesia, Kenya and South Korea.
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.46.96 |
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UK Pound |
1 |
Rs.83.91 |
|
Euro |
1 |
Rs.66.36 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
1 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
---- |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
---- |
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--CREDIT LINES |
1~10 |
---- |
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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 |
|
TOTAL |
|
13 |
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 |
|