MIRA
INFORM REPORT
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Report Date : |
19.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
MAHAVIR PUMPS MANUFACTURING PRIVATE LIMITED |
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Registered Office : |
KBR Complex, 1st Floor, 4, Hochi Minh Sarani, Kolkata-700071,
West Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
10.08.1993 |
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Com. Reg. No.: |
21-59708 |
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CIN No.: [Company
Identification No.] |
U29120WB1993PTC059708 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALM03162F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Hand Pumps and its various Spare Parts. |
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 21000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Trade
relations are fair. Financial position is satisfactory. 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 : |
KBR Complex, 1st Floor, 4, Hochi Minh Sarani,
Kolkata-700071, West Bengal, India |
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Tel. No.: |
91-33-22827077/ 22828807 |
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Mobile No.: |
91-9331917825 |
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Fax No.: |
91-33-22829157 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Naveen Kumar Gupta |
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Designation : |
Director |
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Address : |
4, HO Chi Mingh Sarani, Kolkata-700071, West Bengal, India |
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Date of Birth/Age : |
02.01.1980 |
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Date of Appointment : |
30.03.2007 |
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Tel No.: |
91-33-22829157 |
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E Mail : |
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Other Directorship : |
Vindo Bashini Developers Private Limited U70101WB2006PTC109802 |
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Name : |
Mr. Ram Sagar Poddar |
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Designation : |
Managing Director |
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Address : |
4 Ho Chi Minh Sazrani, Kolkata-700071, West Bengal India |
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Date of Appointment : |
10.08.1993 |
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Name : |
Mr. Amar Sankar Poddar |
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Designation : |
Director |
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Date of Appointment : |
29.04.2005 |
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Name : |
Mr. Baleshwar Poddar |
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Designation : |
Director |
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Address : |
4 Ho Chi Minh Sazrani, Kolkata-700071, West Bengal India |
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Date of Appointment : |
10.08.1993 |
KEY EXECUTIVES
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Name : |
Mr. Shashi Chandra Jha |
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Designation : |
Company Secretary |
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Address : |
Rabindra Pally, Sapuri Para, Bally, Howrah-711227, West Bengal, India |
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Tel No.: |
91-33-32914746/ 26462583 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2005
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Names of Shareholders |
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No. of Shares |
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Baleswar Poddar |
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31350 |
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Neena Poddar |
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14800 |
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Ram Sagar Poddar |
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25800 |
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Vikas Kumar Poddar |
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3000 |
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Amar Sangar Poddar |
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7850 |
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Geeta Poddar |
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5900 |
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Swati Poddar |
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1000 |
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Navneet Kumar Poddar |
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4000 |
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Prem Sankar Poddar |
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15850 |
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Ramsagar Poddar (HUF) |
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2000 |
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Sanjukta Poddar |
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33800 |
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Amar Sankar Poddar |
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23550 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2007
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Hand Pumps and its various Spare Parts. |
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Products : |
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GENERAL
INFORMATION
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No. of Employees : |
40 |
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Bankers : |
Bank of India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
BKS and Company Chartered Accountant |
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Address : |
6A, Raja Subodh Mullick Square, 2nd Floor, Suite No. N 207,
Kolkata-700013, West Bengal, India |
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Memberships : |
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CAPITAL STRUCTURE
As on 30.09.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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367100 |
Equity Shares |
Rs. 10/-
each |
Rs. 3.671
Millions |
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 |
3.671 |
3.261 |
3.261 |
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2] Share Application Money |
0.090 |
0.400 |
0.400 |
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3] Reserves & Surplus |
0.634 |
0.484 |
0.260 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
4.395 |
4.145 |
3.921 |
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LOAN FUNDS |
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1] Secured Loans |
4.185 |
2.509 |
6.723 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
4.185 |
2.509 |
6.723 |
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DEFERRED TAX LIABILITIES |
0.096 |
0.123 |
0.181 |
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TOTAL |
8.676 |
6.777 |
10.825 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.941 |
0.936 |
0.818 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
10.190
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8.291 |
6.044 |
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Sundry Debtors |
0.716
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0.643 |
5.756 |
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Cash & Bank Balances |
0.034
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0.050 |
0.025 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
0.547
|
0.507 |
0.580 |
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Total
Current Assets |
11.487
|
9.491 |
12.405 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
3.502
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3.445 |
2.314 |
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Provisions |
0.250
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0.205 |
0.084 |
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Total
Current Liabilities |
3.752
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3.650 |
2.398 |
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Net Current Assets |
7.735
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5.841 |
10.007 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
8.676 |
6.777 |
10.825 |
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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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25.747 |
27.880 |
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Other Income |
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0.022 |
0.035 |
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Total Income |
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25.769 |
27.915 |
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Profit/(Loss) Before Tax |
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0.255 |
0.000 |
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Provision for Taxation |
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0.106 |
0.000 |
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Profit/(Loss) After Tax |
|
0.149 |
0.224 |
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Total Expenditure |
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25.514 |
NA |
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 |
(%) |
0.58
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0.80 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
0.99
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NA |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.05
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NA |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.06
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NA |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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1.81
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1.49 |
2.33 |
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Current Ratio (Current Asset/Current Liability) |
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3.06
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2.60 |
5.17+ |
LOCAL AGENCY
FURTHER INFORMATION
AS PER WEBSITE
Profile:
“WATER WATER EVERY WHERE NOT A SINGLE DROP TO DRINK” this phrase is no longer
limited for people stranded alone in mid sea but this has become the common
concern for many people in different countries.
One of the biggest issues that many developing countries including India
are dealing with is the pure drinking water scarcity. However, they are now
walking the path of success steadily and strongly now that technology advances
have made it easier for them to face these problems easily. Water scarcity has
also enabled them to come up with required solutions and, Hand Pumps have been
a boon for developing countries. They provide people with the most precious
natural resource in this world - WATER through the various pumps they
make.
Established in 1993, subject has gained a well defined reputation as a
worthy manufacturer and exporter of
Hand Pumps and its various Spare Parts. Serving the nation and worldwide alike,
they have grown into a well known name that is associated with quality and
strength. Currently they are catering almost 50% of Hand Pump market in the
sate of West Bengal and fair percentage in nearby states. The range of products
comprises of Hand Pumps, Shallow Well
Hand Pumps, Extra Deep Well Hand Pump, Indian Mark-II and Mark-III Hand Pumps,
Deep Well Hand Pumps, Paddle Operated Paddy Threshers, Hand Pump Spare Parts,
etc.
All these products are the result of the expertise gained from over a
decade of experience, endurance and workmanship. They design products which are
engineered to perfection, with consistent quality control at all stages to
ensure a trouble free service throughout. They keep updating themselves with
the latest scientific technology to come up with better ideas to serve you
better. Owing to all these efforts, the products have found a huge acceptance
not just in India, but throughout the world. They are also a member of
prestigious institutions like National Small Industries Corporation (NSIC),
Small Scale Industries (SSI), Public Health Engineering Department, Export
Promotion Council of India, UNICEF and more.
Quality
They are a quality conscious company and the products have been
certified by Bureau of Indian Standards (BIS), Directorate General of Supplies
and Disposals (DGSandD), Public Health Engineering Department of India (PHE)
and UNICEF. The time tested golden principle of quality and experience in the
field of manufacturing of Hand Pumps and Spare Parts has enabled them to gain
an enviable position in both the Indian and international market.
Every process, from the raw material procurement stage to the finishing
stage, is subjected to stringent quality checks, under the strict supervision
of trained experts. Quality assurance is one of the most significant aspects of
the company. They ensure smooth running of all the operations, along with
timely deliveries, for the convenience of the customers.
They make most of the parts themselves or procure from the sister
concerns who are one of the leading suppliers of spare parts in the country.
So, they do not procure them from outside. This results in better quality
control. From the casting of the cylinders to galvanizing and all those
critical operations in between, they do it all themselves.
Infrastructure
A state-of-the-art production unit loaded with modern machines plays the
back up for the products' quality and strength. They have a reliable team of
technically sound professionals to design and manufacture unbeatable products.
The strict compliance to internationally accepted production norms ensures that
they, as a team, are engaged to give the best products to the clients.
The expertise ensures that they are meeting the exact requirements of
the customers and standards of the industry. The strong financial background
makes it easier for them to keep investing regularly in the area of technical
development, research and production to promote knowledge. And that is one of
the most important reasons that the products are so popular and
demanded in the competitive international markets.
The Hallmarks
- Technically
sound machinery and experienced workforce
- Compliance to
international standards of quality
- Competitive
prices assuring value for money
- On-time
deliveries, irrespective of the location.
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.46.71 |
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UK Pound |
1 |
Rs.85.12 |
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Euro |
1 |
Rs.66.98 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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 |
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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46 |
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 |
|
|
>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 |
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