MIRA
INFORM REPORT
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Report Date : |
16.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
AJANTA MACHINERY MANUFACTURERS PRIVATE LIMITED |
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Registered Office : |
2nd Floor, Sant Bhavan, Sharma Industrial Estate, Goregaon
(East), Bombay, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.1997 |
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Year of Establishment : |
31.05.1984 |
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Com. Reg. No.: |
11-033041 |
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CIN No.: [Company
Identification No.] |
U99999MH1984PTC033041 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA20075G |
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PAN No.: [Permanent
Account No.] |
AAACA6748A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Printing and laminating machines,
machinery for making BOP and Insulating Taps, Flexible Packaging. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Maximum Credit Limit : |
USD 10000 |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaint |
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Litigation : |
Clear |
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Comments : |
Subject is a pretty old company but has not field its latest
financials with the Government departments. The management parted general details
but declined to part with financial. It would be difficult to access the
financial strength of the company in view of non-availability of financials. No complaints have been heard. The company can be considered for small to mediocre business dealings
with slight caution, initially. |
INFORMATION PARTED
BY (General Details)
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Name : |
Mr.C. P. Sharma |
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Designation : |
Director |
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Contact No.: |
91-9819353643 |
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Date : |
14.10.2008 |
LOCATIONS
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Registered Office : |
2nd Floor, Sant Bhavan, Sharma Industrial Estate, Goregaon
(East), Bombay, Maharashtra |
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Factory : |
206, Udyog Bhavan, Sharma Industrial Estate, Walbhat Road, Goregoan
(East), Mumbai – 400 063, Maharashtra, India |
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Tel. No.: |
91-22-66998815 |
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Mobile No.: |
91-9819353643 (Mr. C.P. Sharma) |
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Fax No.: |
91-22-66998815 |
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E-Mail : |
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Website : |
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Area : |
2200 sq ft |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Chandraprakash Surajprasad Sharma |
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Designation : |
Director |
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Address : |
7, Park View, 71, Ranade Road, Shivaji Park, Mumbai – 400 028,
Maharashtra, India |
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Date of Birth/Age : |
21.05.1952 |
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Qualification : |
B. E. Mechanical, D B M D I E |
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Date of Appointment : |
31.05.1984 |
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Name : |
Mr. Sudhakar Mishra |
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Designation : |
VP |
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Name : |
Mr. R. C. Pathak |
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Designation : |
General Manager |
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Name : |
Mr. Pradeep Mahnot |
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Designation : |
Director |
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Address : |
301, Mahesh Bhuvan, Pandurag Wadi No.2, Goregaon (East) Mumbai – 400
063, Mharashtra, India |
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Date of Birth/Age : |
31.01.1956 |
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Date of Appointment : |
31.05.1984 |
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Name : |
Mr. Parvez |
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Designation : |
Sales Manager |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As On 25.05.1989)
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Names of Shareholders |
No. of Shares |
Percentage of
Holding |
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Mr. Pradeep Mahanot |
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3150 |
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Mr. Chandra Prakash Sharma |
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5640 |
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Mrs. Adelina Rosada Josefina Aranjo |
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110 |
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Mr. Abbey Sylvester Aranjo |
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500 |
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Ajanta Pradeep Mahnot |
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100 |
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Mr. Suraj Prakash Sharma |
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500 |
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Total |
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10000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Printing and laminating machines,
machinery for making BOP and Insulating Taps, Flexible Packaging. |
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Products : |
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Exports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
Credit |
GENERAL
INFORMATION
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Customers : |
OEM’s |
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No. of Employees : |
32 |
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Bankers : |
Bank of India |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mohd Wagh and Company Chartered Accountant |
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Address : |
Mumbai |
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Associates/Subsidiaries : |
Ajanta Overseas Trading Private Limited |
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Address : |
206, Udyog Bhavan, Goregoan (East), Mumbai |
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Line of Business : |
Exporter |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 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 |
31.03.2007 |
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Sales Turnover |
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Not Audited |
20.000 |
Expected Sales (2008-09) : Rs.10.500 Millions
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.1997 |
31.03.1996 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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1.000 |
1.000 |
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2] Share Application Money |
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0.057 |
0.057 |
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3] Reserves & Surplus |
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0.982 |
0.989 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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2.039 |
2.046 |
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LOAN FUNDS |
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1] Secured Loans |
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2.926 |
2.851 |
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2] Unsecured Loans |
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0.336 |
1.686 |
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TOTAL BORROWING |
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3.262 |
4.537 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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5.301 |
6.583 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.132 |
1.394 |
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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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0.000 |
0.000 |
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Sundry Debtors |
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0.000 |
0.000 |
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Cash & Bank Balances |
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0.000 |
0.000 |
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Other Current Assets |
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8.259 |
6.735 |
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Loans & Advances |
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1.727 |
1.433 |
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Total
Current Assets |
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9.986 |
8.168 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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5.752 |
2.811 |
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Provisions |
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0.065 |
0.167 |
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Total
Current Liabilities |
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5.817 |
2.978 |
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Net Current Assets |
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4.169 |
5.190 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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5.301 |
6.584 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.1997 |
31.03.1996 |
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Sales Turnover and Other Income |
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7.540 |
18.518 |
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Total Income |
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7.540 |
18.518 |
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Profit/(Loss) Before Tax |
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0.090 |
0.338 |
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Provision for Taxation |
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0.097 |
0.000 |
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Profit/(Loss) After Tax |
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(0.007) |
0.338 |
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Total Imports |
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Expenditures : |
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Cost of Goods Sold |
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(1.165) |
0.628 |
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Manufacturing Expenses |
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0.624 |
2.287 |
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Administrative Expenses |
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0.879 |
1.306 |
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Raw Material Consumed |
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3.964 |
9.735 |
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Interest |
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0.576 |
0.695 |
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Depreciation & Amortization |
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0.261 |
0.203 |
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Other Expenditure |
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1.146 |
3.326 |
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Total Expenditure |
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7.450 |
18.180 |
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KEY RATIOS
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PARTICULARS |
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31.03.1997 |
31.03.1996 |
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PAT / Total Income |
(%) |
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0.09 |
1.82 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.00 |
1.82 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.80 |
3.53 |
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Return on Investment (ROI) (PBT/Networth) |
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0.04 |
0.16 |
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Debt Equity Ratio (Total Liability/Networth) |
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4.45 |
3.67 |
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Current Ratio (Current Asset/Current Liability) |
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1.71 |
2.74 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference
- Reliance Industries
- Advance Technology Private Limited, Belgium
- Suberu Packaging Private Limited
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or anti-terrorism
sanction laws or whose assets were seized, blocked, frozen or ordered forfeited
for violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is or
was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on Corporate
Governance to identify management and governance. These factors often have been
predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.43 |
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UK Pound |
1 |
Rs.84.54 |
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Euro |
1 |
Rs.65.91 |
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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