MIRA
INFORM REPORT
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Report Date : |
26.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
AUTOMATIC TILES AND MARBLES INDUSTRIES PRIVATE LIMITED |
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Registered Office : |
13-14, B. Andheri Kurla Road, Marol Naka, Andheri (East), Mumbai – 400
059, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.1998 |
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Date of Incorporation : |
20.12.1982 |
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Com. Reg. No.: |
11-28927 |
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CIN No.: [Company
Identification No.] |
U99999MH1982PTC028927 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA25957B |
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PAN No.: [Permanent
Account No.] |
AAACA4551H |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Solid Concrete Block |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Unknown |
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Comments : |
Subject is a small company. It is poor in Corporate Governance. No latest audited financials are
yet available. The company is having estimated sales of Rs.20 millions with a pais up
capital of Rs.1 million and staff of 25. It’s payments are reported as slow. The company can be considered for small business dealings on safe and
secured trade terms and conditions, initially. |
INFORMATION PARTED
BY
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Name : |
Mr. Harikrishna Sharma |
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Designation : |
Partner |
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Contact No.: |
91-9819022338 |
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Date :22 |
22.09.2008 |
LOCATIONS
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Registered Office : |
13-14, B. Andheri Kurla Road, Marol Naka, Andheri (East), Mumbai – 400
059, Maharashtra, India |
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Tel. No.: |
91-22-28502376 |
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Mobile No.: |
91-9819022338 |
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Fax No.: |
91-22-28505087 |
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E-Mail : |
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Area : |
25000 Sq. ft. |
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Location : |
Owned |
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Factory : |
Plot No. 13, 14 and 63, Hissa No. 2, Sativali Village, Opp Vasai Flour
Mill, Vasai (East), Thane, Maharashtra, India |
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Tel. No.: |
91-95250-2481507 |
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Area : |
50000 Sq. ft. |
DIRECTORS
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Name : |
Mr. Brahamanand R Shah |
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Designation : |
Chairman and Managing Director |
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Address : |
Sharma Sadan, Mahant Road, Vile Parle (East), Mumbai, Maharashtra,
India |
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Date of Birth/Age : |
60 Years |
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Qualification : |
B.E. |
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Date of Appointment : |
28.12.1982 |
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Name : |
Mrs. Shanti B Sharma |
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Designation : |
Director |
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Address : |
Sharma Sadan, Mahant Road, Vile Parle (East), Mumbai, Maharashtra,
India |
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Date of Birth/Age : |
60 Years |
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Qualification : |
S.S.C. |
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Date of Appointment : |
28.12.1982 |
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Name : |
Mr. Pushpendra B Sharma |
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Designation : |
Director |
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Address : |
Sharma Sadan, Mahant Road, Vile Parle (East), Mumbai, Maharashtra,
India |
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Date of Birth/Age : |
38 Years |
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Qualification : |
B.Com. |
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Date of Appointment : |
31.10.1994 |
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Name : |
Mr. Harikrishna Sharma |
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Designation : |
Director |
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Date of Birth/Age : |
33 Years |
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Qualification : |
B.E. |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Solid Concrete Block |
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Exports : |
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Countries : |
Gulf Countries |
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Terms : |
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Selling : |
L/C – T/T |
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Purchasing : |
Cash and Credit (30 days / 60 days / 90 days) |
GENERAL INFORMATION
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Suppliers : |
·
Anandi Specialities and Services ·
Geeta Traders ·
Khasim Minerals ·
Kishore Minerals ·
Mahesh Trading Company ·
Mahaveer Rubber ·
National Diesel Service ·
Navshakti Engineering Works ·
N G Jain and Company ·
Reema Oil Company ·
R Harilal and Company ·
R V Dhotre ·
Sanket Traders ·
Shri Gayatri Minerals |
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Customers : |
·
Ajanta Exports ·
Dias Associates ·
K N Rai ·
Raj Construction ·
Jojo Construction ·
P B Transport ·
P D Construction ·
Swastik Realty Private Limited ·
Shama Construction ·
Shruti Structures Private Limited ·
Quality Construction |
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No. of Employees : |
25 |
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Bankers : |
Bassein Catholic Co-Operative Bank Limited Manikpur Branch, Vasai, Thane – 401 201, Maharashtra, India |
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Facilities : |
CC Rs.0.500 million |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
V D Lagu and Company Chartered Accountants |
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Address : |
Mumbai |
CAPITAL STRUCTURE
(As on 31.03.1998)
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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20000 |
Equity Shares |
Rs.100/- each |
Rs.2.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
17870 |
Equity Shares |
Rs.100/- each |
Rs.1.787 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
No latest financials are available from statutory.
Management denied financial details.
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.1998 |
31.03.1997 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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1.787 |
1.787 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.714 |
0.607 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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2.501 |
2.394 |
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LOAN FUNDS |
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1] Secured Loans |
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5.315 |
5.327 |
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2] Unsecured Loans |
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1.101 |
0.933 |
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TOTAL BORROWING |
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6.416 |
6.260 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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8.917 |
8.654 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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6.481 |
6.680 |
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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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2.858 |
2.810 |
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Sundry Debtors |
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2.062 |
2.142 |
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Cash & Bank Balances |
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0.091 |
0.180 |
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Other Current Assets |
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0.276 |
0.115 |
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Loans & Advances |
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0.117 |
0.457 |
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Total
Current Assets |
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5.404 |
5.704 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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2.877 |
3.629 |
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Provisions |
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0.091 |
0.101 |
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Total
Current Liabilities |
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2.968 |
3.730 |
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Net Current Assets |
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2.436 |
1.974 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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8.917 |
8.654 |
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KEY RATIOS
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PARTICULARS |
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31.03.1998 |
31.03.1997 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.75 |
4.17 |
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Current Ratio (Current Asset/Current Liability) |
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1.82 |
1.53 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References
·
R P S Infrastructure – Mumbai (Vile Parle)
·
Larsen and Toubro
Form No. 8
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Corporate
identity number of the company |
U99999MH1982PTC028927 |
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Name of the
company |
AUTOMATIC TILES AND MARBLES INDUSTRIES PRIVATE LIMITED |
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Address of the registered
office or of the principal place of
business in India of the company |
13-14, B. Andheri Kurla Road, Marol Naka, Andheri (East), Mumbai – 400
059, Maharashtra, India` |
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This form is for |
Creation of
charge |
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Type of charge |
Movable property
(not being pledge) |
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Particular of
charge holder |
Bassein Catholic Co-Operative Bank Limited Manikpur Branch, Vasai, Thane – 401 201, Maharashtra, India |
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Nature of
instrument creating charge |
Agreement of
Hypothecation of Machinery |
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Date of
instrument Creating the charge |
09.03.2008 |
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Amount secured by
the charge |
Rs.4.976 millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate of
interest @ 13.50% p.a. o
Terms of
repayment Repayable in 80
monthly installments by 28.02.2015 ·
Margin Nil ·
Extent and
operation of the charge The charge will operate to the extent of Rs.4.976 millions on the
security offered by the company |
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Particulars of
the property charged |
All Machinery including
model 30C Mixer, mud belt conveyor for model 30 C mixer, model 15 R, Concrete
Prod. Machine, complete mould unistone power, green product rollaway, turbine
flow of the borrower company |
Fixed Assets
·
Land
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Building
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Machinery
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Motor Vehicles
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Furniture and Fixtures
·
Computer
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.46.25 |
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UK Pound |
1 |
Rs.85.92 |
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Euro |
1 |
Rs.68.11 |
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 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
- |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
- |
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--CREDIT LINES |
1~10 |
2 |
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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 |
|
23 |
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 |
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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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