MIRA
INFORM REPORT
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Report Date : |
10.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
ELECTRO PLASMA EQUIPMENTS PRIVATE LIMITED |
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Registered Office : |
Unit 104 A, Off I B Patel Road, Western Express Highway, Goregaon
(East), Mumbai – 400 063, Maharashtra |
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Country : |
India |
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Date of Incorporation : |
24.06.1994 |
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Com. Reg. No.: |
79177 |
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CIN No.: [Company
Identification No.] |
U74999MH1994PTC079177 |
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IEC No.: |
0300040300 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUME05122F |
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PAN No.: [Permanent
Account No.] |
AAACE8616R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Air Plasma Cutting and Inverter Welding
Machines. |
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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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a decade old company but has not filed any financials with
the Government departments till date. The management parted general details but
declined to part with financials. Trade relations are fair. Payments are
reported as slow but correct. The company can be considered for small to mediocre business in view
of non-availability of financials. |
INFORMATION PARTED
BY
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Name : |
Mr. Mangesh |
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Designation : |
Director |
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Contact No.: |
91-9820157828 |
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Date : |
08.09.2008 |
LOCATIONS
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Registered Office : |
Unit 104 A, Off I B Patel Road, Western Express Highway, Goregaon
(East), Mumbai – 400 063, Maharashtra, India |
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Tel. No.: |
91-22-40203456 / 26862843 /
2893 / 5065 / 28756343 |
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Mobile No.: |
91-9820157828 |
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Fax No.: |
91-22-28741485 |
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E-Mail : |
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Website : |
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Area : |
500 Sq. ft. |
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Location : |
Owned |
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Factory 1 : |
Veermani Industrial Estate, Unit No. 11, Navgad, Vasai (East), Mumbai |
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Location : |
Owned |
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Factory 2 : |
Noble Industrial Estate No. 2, Unit No. 4, Navgad, Vasai (East),
Mumbai, Maharashtra, India |
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Area : |
5000 Sq. ft. |
DIRECTORS
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Name : |
Mr. Mukund Madhav Pradhan |
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Designation : |
Director |
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Address : |
39/7, Abjishek, J P Nagar, Road No.3, Goregaon (East), Mumbai – 400
063, Maharashtra, India |
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Date of Birth/Age : |
49 Years |
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Qualification : |
B.com. |
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Experience : |
2 Years |
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Date of Appointment : |
24.06.1994 |
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Name : |
Mr. Mangesh Sacchidanand Karnik |
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Designation : |
Director |
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Address : |
39/7, Abjishek, J P Nagar, Road No.3, Goregaon (East), Mumbai – 400
063, Maharashtra, India |
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Date of Birth/Age : |
43 Years |
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Qualification : |
Electrical Engineer |
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Experience : |
15 Years |
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Date of Appointment : |
24.06.1994 |
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Name : |
Mr. Sandip Shashikant Nagle |
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Designation : |
Director |
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Address : |
39/7, Abjishek, J P Nagar, Road No.3, Goregaon (East), Mumbai – 400
063, Maharashtra, India |
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Date of Birth/Age : |
42 Years |
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Qualification : |
BE |
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Date of Appointment : |
24.06.1994 |
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Name : |
Mr. Rajesh R Kulkarni |
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Designation : |
Director |
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Qualification : |
Electronic Engineer |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Air Plasma Cutting and Inverter Welding
Machines. |
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Products : |
·
Air Plasma Cutting Machines ·
Air Plasma Cutting Torch and Consumables ·
Inverter Welding Machines |
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Exports : |
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Countries : |
·
African Countries ·
Gulf Countries |
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Terms : |
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Selling : |
Credit (30 days / 60 days / 90 days) |
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Purchasing : |
Cash and Credit (30 days / 60 days / 90 days) |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
50 |
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Bankers : |
·
ICICI Bank Goregaon (East), Mumbai, Maharashtra,
India ·
Bank of Maharashtra Goregaon (East) Branch, Sarthak Co-Op
Housing Society Limited, Mungekar Apartment, Main Aarey Road, Goregaon
(East), Mumbai – 400 062, Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Kamal and Associates Chartered Accountants |
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 |
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 |
FINANCIAL DATA
[all figures are in Rupees Millions]
No Financials are available.
LOCAL AGENCY
FURTHER INFORMATION
Trustseal
Acceptance Chart
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Existence
Verification |
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Name |
ELECTRO PLASMA EQUIPMENTS PRIVATE LIMITED |
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Statutory
Approvals |
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Legal Status of Firm |
Private Limited |
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Income Tax Registration |
AAACE8616R |
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Central Sales Tax Registration |
27580013694C |
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VAT / TIN Registration |
27580013694V |
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Import Export Code |
0300040300 |
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Name of Bank |
ICICI Bank |
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Current Account Number |
028105001613 |
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Account Since |
Dec 2006 |
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Trade
Affiliations |
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SSI Registration |
112485698 24-07-2008 |
Trade References
- Bhabha Atomic
Research Centre
- Bharat Forge
Limited, Pune
Form No. 8
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Name of the company |
ELECTRO PLASMA EQUIPMENTS PRIVATE LIMITED |
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Presented By |
Bank of
Maharashtra, Goregaon (East) Branch, Mumbai – 400 063 |
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1) Date and description of instrument creating the change |
26th
July 2004 No Instrument –
Memorandum of record of Equitable Mortgage |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.1.000 million |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
At the request of
Borrower Company, the Bank has sanctioned Cash Credit Limits of Rs.1.000
million to secure the due payment of the banking limits to the Company and
for interest, penal interest, additional interest, liquidated damages,
compensation, commission, costs, charges, expenses thereon, at the request of
the Bank, the Company has deposited the title deeds of the following immovable
property of the Company as collateral security. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest and
other charges as per loaning documents executed by the Borrower Company. |
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5) Name and Address and description of the person entitled to the charge. |
Bank of Maharashtra Goregaon (East) Branch, Sarthak Co-Op Housing Society Limited,
Mungekar Apartment, Main Aarey Road, Goregaon (East), Mumbai – 400 062,
Maharashtra, India |
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6) Date and brief description of instrument modifying the charge |
N.A |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
N.A |
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Corporate
identity number of the company |
U74999MH1994PTC079177 |
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Name of the
company |
ELECTRO PLASMA EQUIPMENTS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
Unit 104 A, Off I B Patel Road, Western Express Highway, Goregaon
(East), Mumbai – 400 063, Maharashtra, India |
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This form is for |
Modification of
charge |
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Type of charge |
Immovable
property |
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Particular of
charge holder |
Bank of Maharashtra Goregaon (East) Branch, Sarthak Co-Op Housing Society Limited,
Mungekar Apartment, Main Aarey Road, Goregaon (East), Mumbai – 400 062,
Maharashtra, India |
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Nature of
instrument creating charge |
Memorandum of
Record of additional equitable mortgage. |
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Date of
instrument Creating the charge |
14.02.2008 |
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Amount secured by
the charge |
Rs.3.500 millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate of
interest Interest Rate, As agreed between the borrower company and the bank
from time to time. ·
Terms of
repayment Repayment, As agreed between the borrower company and the bank from
time to time. ·
Margin Margin Rate, As agreed between the borrower company and the bank from
time to time ·
Extent and operation
of the charge At the request of the borrower company, the bank has sanctioned the
cash credit limit of Rs.1.000 million to ‘Electro Diagno Systems’ against
mortgage of the immovable property of the company, together with buildings
and structures constructed / to be constructed thereon and all the fixtures,
fittings, annexed thereon the Gala No. 104 on 1st Floor in ‘Acme
Industrial Estate’ at Village Pahadi, Taluka Borivali. The charge stands modified upto Rs.3.500 millions |
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Particulars of
the property charged |
At the request of
the borrower company, the bank has sanctioned the cash credit limit of
Rs.1.000 million to ‘Electro Diagno Systems’ against mortgage of the
immovable property of the company, together with buildings and structures
constructed / to be constructed thereon and all the fixtures, fittings,
annexed thereon the Gala No. 104 on 1st Floor in ‘Acme Industrial
Estate’ at Village Pahadi, Taluka Borivali. The charge stands
modified upto Rs.3.500 millions |
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Particulars of the
present modification |
At the request of
the borrower company, the bank has sanctioned the cash credit limit of
Rs.1.000 million to ‘Electro Diagno Systems’ against mortgage of the
immovable property of the company, together with buildings and structures
constructed / to be constructed thereon and all the fixtures, fittings,
annexed thereon the Gala No. 104 on 1st Floor in ‘Acme Industrial
Estate’ at Village Pahadi, Taluka Borivali. The charge stands
modified upto Rs.3.500 millions |
Web Details
Profile
Subject
is reputed name today that caters to a wide range of customers through its full
range of machines based on the latest as well as conventional technology and
has emerged as a ONE STOP SHOP for all requirements in metal cutting and
welding machines, accessories and consumables. The company offers complete
sales, services and solutions to its customers.
Subject's
commitment to provided the most innovative, cost-effective, quality welding and
cutting solutions is one that has guided the company for a long period of time.
This, coupled with the technological leadership and worldwide manufacturing and
distribution resources, enables them to provide competent and reliable
solutions for each of the customers. Recognized as the welding experts, the
company provides leading technology products and solutions.
From
its early beginnings, Subject has pioneered technological advancements and
improvements in Inverter welding machines and Air plasma cutting equipment.
Subject harnesses the industry's most aggressive and comprehensive research and
product development program. The Company is famous for its productive and
highly-skilled work force, as well as its unique compensation system, incentive
Management.
Management
Inverter-based
technology definitely can reduce wasted time and certainly lower costs. When
experience problems such as Difficulty moving heavy welding machines to the
work site, downtime caused while waiting for a forklift, truck, or crane to
move the welding machine. Inability to bring a larger welding machine close to
the job site while working in tight spaces. Inverter-based welding machines can
solve all of these problems because their advanced technology dramatically
lowers machine weight and size, provides primary power management capabilities
not possible with conventional welding technology, and delivers unbeatable arc
performance.
Today's
inverter technology makes machines easier to operate. Their enhanced arc starts
and arc performance can turn an average welding machine into a good welding
machine, leading to improved weld quality and fewer rejects. In an average
welding operation, labor accounts for 85% of the cost. Measuring how much a
repair costs includes time spent to bring the welding machine and the work
together, welding equipment setup time, material preparation time, arc-on time,
welding cleanup time, any rework time, time spent moving the welding machine
between jobs and time spent returning the welding machine to the tool crib or
storage space.
Saving
time by bringing a lightweight inverter to the work does no good if there isn't
anywhere to plug it in. An inverter provides location flexibility through two
types of primary power management technology: automatic linking technology and
automatic power management technology. People encountering an inverter for the
first time usually cannot believe that such a small machine provides so much
welding output. Inverters also provide outstanding power efficiency, which can
lower electricity bills by almost 60%, and make good use of the primary power
being supplied, which is known as good power factor.
Products
A
demonstrated commitment to technology leadership, quality and support make
subject the first choice of true cutting professionals around the nation.
Whether
involved in light fabrication, plant maintenance or high-volume plate cutting,
they have the system for. No one is more committed to providing with a cutting
solution that will drive costs out of the operation.
Consumables
are a critical part of the system and feature a host of performance-enhancing
patented technologies. Only by using genuine consumables sure to get all the
performance paid for.
Air
plasma cutting machines and inverter welding machines are required in following
industries:
1) Pressure Vessels
Manufacturers
2) Pharmaceutical Machinery Manufacturers
3) Heat exchangers Manufacturers
4) Centrifuge manufacturers
5) Chemical Plant manufacturers
6) Ship Builders & ship breakers
7) Textile machinery manufacturers
8) Food processing machinery manufacturers
9) Refineries and petrochemical machinery manufacturers
10) Automobile body builders and manufacturers
11) Sugar plant and machinery manufacturers
12) Cement plant and machinery manufacturers
13) Conveyors Manufacturers
14) S. S. Tubes manufacturers
15) Railway workshop
16) All fabricators
This
machine has many advantages over conventional methods. They have different
types of models depending upon the thickness of the metal to be cut. This
machine doesn’t require any expensive gases by any works on shopfloor
compressed air and electricity. This ensures very low operational cost. The
cutting speed of this machine is 4 to 5 times faster than conventional gas
cutting, which ensures high productivity.
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.12 |
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UK Pound |
1 |
Rs.79.60 |
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Euro |
1 |
Rs.63.83 |
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 |
3 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
1 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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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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27 |
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 |
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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 |
|
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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