MIRA
INFORM REPORT
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Report Date : |
08.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
NIKOPAS ENGINEERING PRIVATE LIMITED |
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Registered Office : |
41/42, Podar Chambers, S A Brelvi Road, Fort, Mumbai – 400 001,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
30.07.1977 |
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Com. Reg. No.: |
11-19776 |
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CIN No.: [Company
Identification No.] |
U28939MH1977PTC019776 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMN11413D |
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PAN No.: [Permanent
Account No.] |
AAACN1371J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Supplier and Exporter of circular threading dies and
hexagonal die nuts |
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 6000 |
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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 satisfactory track. Trade
relations are fair. Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office/ Factory : |
41/42, Podar Chambers, S A Brelvi Road, Fort, Mumbai – 400 001,
Maharashtra, India |
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Tel. No.: |
91-22-22661112/ 66318245 91-2525-272470/ 657752 |
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Mobile No : |
91-9820670974 |
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Fax No.: |
91-22-22663815 |
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E-Mail : |
cbpco@mtnl.net.in |
DIRECTORS
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Name : |
Mr. Baburao Dilip Sawant |
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Designation : |
Director |
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Date of Birth/Age : |
03.08.1950 |
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Date of Appointment : |
07.11.1978 |
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Name : |
Mrs. Rajashree Dilip Sawant |
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Designation : |
Director |
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Date of Birth/Age : |
13.06.1952 |
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Date of Appointment : |
07.11.1978 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr.Gurunath Lala Pangam |
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150 |
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Mr. Baburao Dilip Sawant |
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3270 |
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Mrs. Rajashree Dilip Sawant |
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354 |
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Mr. Shantaram Babu Parab |
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169 |
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Total |
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3943 |
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Equity share breakup
(percentage of totol equity) |
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Category |
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Percentage |
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Directors or relatives of directors |
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100 |
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Total |
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100 |
BUSINESS DETAILS
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Bankers : |
Not Available |
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Line of Business : |
Manufacturer, Supplier and Exporter of circular threading dies and
hexagonal die nuts |
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Products : |
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Brand Names : |
NKP |
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Exports : |
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Countries : |
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GENERAL
INFORMATION
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Auditors : |
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Name : |
J. H. Ghumar and Company Chartered Accountant |
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Address : |
B/14, Jessika, Natakwala Lane, S. V. Road, Borivali (W), Mumbai – 400
092, Maharashtra, India |
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Name : |
C. B. Pokle and Company Chartered Accountant |
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Address : |
201, Chitrakoot, Kashinath Dhuru Street, Agar Bazar, Dadar (W), Mumbai
– 400 028, Maharashtra, India |
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Memberships : |
Engineering Export Promotion Council (EPC) |
CAPITAL STRUCTURE
(As On 29.09.2007)
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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5000 |
Equity Shares |
Rs.100/- each |
Rs.0.500 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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3943 |
Equity Shares |
Rs.100/- each |
Rs.0.394
Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.394 |
0.394 |
0.394 |
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2] Share Application Money |
0.091 |
0.091 |
0.091 |
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3] Reserves & Surplus |
0.688 |
0.419 |
0.376 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.173 |
0.904 |
0.861 |
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LOAN FUNDS |
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1] Secured Loans |
1.214 |
1.760 |
1.681 |
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2] Unsecured Loans |
0.726 |
0.581 |
0.550 |
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TOTAL BORROWING |
1.940 |
2.341 |
2.231 |
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DEFERRED TAX LIABILITIES |
0.043 |
0.121 |
0.138 |
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TOTAL |
3.156 |
3.366 |
3.230 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.470 |
1.546 |
1.132 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.002 |
0.002 |
0.002 |
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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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Inventories |
2.387
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2.095 |
2.076 |
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Sundry Debtors |
5.556
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3.804 |
3.338 |
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Cash & Bank Balances |
0.470
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0.305 |
0.398 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
0.637
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0.370 |
0.419 |
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Total
Current Assets |
9.050
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6.574 |
6.231 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
6.924
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4.530 |
4.001 |
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Provisions |
0.442
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0.228 |
0.134 |
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Total
Current Liabilities |
7.366
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4.757 |
4.135 |
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Net Current Assets |
1.684
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1.818 |
2.096 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
3.156 |
3.366 |
3.230 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
20.189 |
15.844 |
10.543 |
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Other Income |
0.000 |
0.000 |
0.000 |
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Total Income |
20.189 |
15.844 |
10.543 |
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Profit/(Loss) Before Tax |
0.405 |
0.268 |
0.244 |
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Provision for Taxation |
0.136 |
0.225 |
0.064 |
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Profit/(Loss) After Tax |
0.269 |
0.043 |
0.189 |
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Expenditures : |
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Other Expenditure |
0.000 |
0.000 |
0.000 |
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Total Expenditure |
19.784 |
15.576 |
10.299 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
1.33
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0.27 |
1.79 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.00
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1.69 |
2.31 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.84
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3.29 |
3.31 |
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Return on Investment (ROI) (PBT/Networth) |
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0.34
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0.29 |
0.28 |
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Debt Equity Ratio (Total Liability/Networth) |
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7.93
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7.85 |
7.39 |
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Current Ratio (Current Asset/Current Liability) |
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1.22
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1.38 |
1.50 |
LOCAL AGENCY
FURTHER INFORMATION
As per Websites
Founded in 1979, Subject. is
a name to reckon with in the field of cutting and stamping products. Backed by
a strong technological expertise and competence, the company introduces itself
as a prominent manufacturer, supplier
and exporter of world class circular
threading dies and hexagonal die nuts. As a quality driven organization,
they follow approved quality procedures that conform to various national and
international norms like BS, IS, DIN
and American standards. Renowned for their precision, perfection and
higher durability, their products are setting standards of quality and
performance all around the globe.
Their products are available in HSS as well as in alloy steel as per
your specific requirement. They are one of a few reputed names in the industry
offering huge selection of products in a variety of specifications. Offered
under the brand name of "nkp", their products are available in varied
technical grades such as BSW, BSF, UNF, UNC, UNEF, UN, White worth fine, BSP,
ME, BSC, etc.
With their extensive knowledge and engineering expertise, they also
engineer a technically advanced range of multi start dies for your requirement.
Their products are offered in various thread tolerance grades such as 2A, 3A,
6g, 8g, 4h, 6h, 6e, etc. and are fitted into a diestock to cut threads on
stainless steel, brass, copper and aluminum screws or bolts. etc. Their export
markets are centered in the USA, UK, South Africa and Middle East countries.
They are an active member of the Engineering Export Promotion Council (EEPC).
Products
A professionally managed engineering house, Nikopas Engineering Private.
Limited. is a globally reputed manufacturer, supplier and exporter of high
quality thread cutting dies. Offered under the brand name of "nkp",
their products are available in grades like BSW, BSF, UNF, UNC, UNEF, UN, White
worth fine, BSP, ME, BSC, etc. Their list of products includes:
- Hex Die Nuts
- Multi Start Dies
- Circular Thread Cutting Dies.
- Hex Die Nuts
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.48.74 |
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UK Pound |
1 |
Rs.85.19 |
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Euro |
1 |
Rs.66.12 |
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 |
YES |
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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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