MIRA
INFORM REPORT
|
Report Date : |
06.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
HEBENKRAFT |
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Registered Office : |
223/225, Amar Gian Office Complex, LBS Marg, Khopath, Thane – 400 601,
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Country : |
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Financials (as on) : |
31.03.2010 |
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Year of Establishment : |
1985 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNEH04569F |
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PAN No.: [Permanent
Account No.] |
AAAFH7344C |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners |
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Line of Business : |
Manufacturer and Exporter of Material Handling Equipments. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
|
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 60000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established partnership concern having satisfactory
track. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. Jayprakash Patil |
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Designation : |
Partner |
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Contact No.: |
91-9323796063 |
|
Date : |
19.03.2011 |
LOCATIONS
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Registered Office : |
223, Amar Gian Office Complex, LBS Marg, Khopath, Thane – 400 601, |
|
Tel. No.: |
91-22-25470055 / 32484152 / 32484153 |
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Mobile No.: |
91-9323796063 (Mr. Jayprakash Patil) |
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Fax No.: |
91-22-25472703 |
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E-Mail : |
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Website : |
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Area : |
1000 sq. ft. |
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Location : |
Owned |
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Factory : |
A – 27, Addl. Ambernath, MIDC, Amernath, District Thane, |
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Area : |
10000 sq. ft. |
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Location : |
Owned |
PARTNERS
|
Name : |
Mr. J. S. Patil |
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Designation : |
Partner |
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Date of Birth/Age : |
62 years |
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Qualification : |
Graduate (Engineering) |
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|
Name : |
Mr. S. J. Patil |
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Designation : |
Partner |
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Date of Birth/Age : |
30 years |
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Qualification : |
Graduate with Marketing Management |
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|
Name : |
Mrs. R. J. Patil |
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Designation : |
Partner |
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Date of Birth/Age : |
57 years |
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Qualification : |
Graduate |
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Name : |
Mrs. C. S. Patil |
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Designation : |
Partner |
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Date of Birth/Age : |
27 years |
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Qualification : |
Graduate |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Material Handling Equipments. |
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Products : |
·
EOT Cranes up to 100 T,
Capacity and spans upto 40 M. ·
Goliath and Semi Goliath
Cranes. ·
Grabbling Unloaders. ·
Grab Buckets upto 14 CU.M. Other
Products : ·
Winches
upto 100 T, Capacity. ·
Ladle
Transfer Cars. ·
Slew
Cranes. ·
Jib
Cranes and Cantilever bracket cranes.. ·
Ladle
Tilting Machines. ·
Furnace
Charging Systems. |
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Exports : |
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Products : |
Material Handling Equipments |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
·
End Users ·
Narmada Cement Company Limited (Magdalla) ·
Usha Ispat Limited (Redi) ·
Supreme Industries Limited (Pondichery) ·
Godrej GE Appliances ·
·
·
·
Mahindra Ugine Steel Company Limited ·
Videocon International. ·
·
Ispat Industries Limited ·
Sesa Industries Limited |
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No. of Employees : |
45 (Approximately) |
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Bankers : |
The Saraswat Co-op Bank Limited, Tembhi Naka Branch, Thane, |
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Facilities : |
CC Rs.15.000 Millions.
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Banking Relations
: |
--- |
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Auditors : |
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Name : |
M A Gore and Company Chartered Accountant |
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Address : |
Thane, |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
|
Capital Investment : |
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Owned : |
Rs. 15.000 Millions (Approximately) |
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Borrowed : |
-- |
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Total : |
Rs. 15.000 Millions (Approximately) |
FINANCIAL DATA
[all figures are
in Rupees Millions]
(HEBENKRAFT)
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Partners Capital |
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|
10.180 |
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2] Share Application Money |
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|
0.000 |
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3] Reserves & Surplus |
|
|
0.259 |
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4] (Accumulated Losses) |
|
|
0.000 |
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NETWORTH |
|
|
10.439 |
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LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
25.334 |
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2] Unsecured Loans |
|
|
2.970 |
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TOTAL BORROWING |
|
|
28.304 |
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DEFERRED TAX LIABILITIES |
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|
0.000 |
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|
|
|
|
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TOTAL |
|
|
38.743 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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16.783 |
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Capital work-in-progress |
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|
44.305 |
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INVESTMENT |
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|
2.316 |
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DEFERREX TAX ASSETS |
|
|
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
|
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Inventories |
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|
0.000 |
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Sundry Debtors |
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|
12.259 |
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Cash & Bank Balances |
|
|
0.313 |
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Other Current Assets |
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|
0.000 |
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|
Loans & Advances |
|
|
3.327 |
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Total
Current Assets |
|
|
15.899 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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40.050 |
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Provisions |
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|
0.510 |
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Total
Current Liabilities |
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40.560 |
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Net Current Assets |
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|
(24.661) |
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MISCELLANEOUS EXPENSES |
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|
0.000 |
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Partners Capital Account (Debit Balance) |
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|
0.000 |
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TOTAL |
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|
38.743 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
|
31.03.2009 |
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Sales Turnover |
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|
55.794 |
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Other Income |
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|
4.130 |
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Total Income |
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|
59.924 |
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Profit/(Loss) Before Tax |
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|
8.822 |
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Provision for Taxation |
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|
0.000 |
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Profit/(Loss) After Tax |
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|
8.882 |
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Expenditures : |
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Cost of Goods Sold |
|
|
24.911 |
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Depreciation & Amortization |
|
|
26.191 |
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Total Expenditure |
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|
51.102 |
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Particulars |
|
|
31.03.2010 |
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Sales Turnover |
|
|
90.000 (Approximately) |
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Expected Sales (2010-11) : Rs.90.000 millions.
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2009 |
|
PAT / Total Income |
(%) |
|
|
14.72 |
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|
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Net Profit Margin (PBT/Sales) |
(%) |
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|
15.81 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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26.99 |
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Return on Investment (ROI) (PBT/Networth) |
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0.85 |
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Debt Equity Ratio (Total Liability/Networth) |
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6.60 |
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Current Ratio (Current Asset/Current Liability) |
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|
0.39 |
LOCAL AGENCY FURTHER INFORMATION
Trade Reference:
- Essar Industries Limited -
- Ispat
Industries Limited -
- Sesa
Industries Limited -
- Nagarjuna
Overseas - Muscut
(SHILPIN ENGINEERS)
(ASSOCIATES
/ SUBSIDIARIES)
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partners Capital |
|
|
1.267 |
|
|
2] Share Application Money |
|
|
0.000 |
|
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3] Reserves & Surplus |
|
|
0.000 |
|
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4] (Accumulated Losses) |
|
|
0.000 |
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NETWORTH |
|
|
1.267 |
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|
LOAN FUNDS |
|
|
|
|
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1] Secured Loans |
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|
0.297 |
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2] Unsecured Loans |
|
|
0.000 |
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TOTAL BORROWING |
|
|
0.297 |
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DEFERRED TAX LIABILITIES |
|
|
0.000 |
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|
|
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|
|
|
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TOTAL |
|
|
1.564 |
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|
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|
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APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
|
|
0.748 |
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Capital work-in-progress |
|
|
0.000 |
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|
|
|
|
|
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INVESTMENT |
|
|
0.000 |
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DEFERREX TAX ASSETS |
|
|
0.000 |
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|
|
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|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
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Inventories |
|
|
8.400 |
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Sundry Debtors |
|
|
0.679 |
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Cash & Bank Balances |
|
|
0.064 |
|
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Other Current Assets |
|
|
1.351 |
|
|
Loans & Advances |
|
|
0.058 |
|
Total
Current Assets |
|
|
10.552 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
|
9.706 |
|
|
Provisions |
|
|
0.030 |
|
Total
Current Liabilities |
|
|
9.736 |
|
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Net Current Assets |
|
|
0.816 |
|
|
|
|
|
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|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
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TOTAL |
|
|
1.564 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
|
31.03.2007 |
|
|
Sales Turnover |
|
|
18.646 |
|
|
Other Income |
|
|
0.465 |
|
|
Total Income |
|
|
19.111 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
|
0.616 |
|
|
Provision for Taxation |
|
|
0.000 |
|
|
Profit/(Loss) After Tax |
|
|
0.616 |
|
|
|
|
|
|
|
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Expenditures : |
|
|
|
|
|
|
Cost of Goods Sold |
|
|
13.319 |
|
|
Financial Charge |
|
|
2.773 |
|
|
Administrative Expenses |
|
|
0.640 |
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|
Salaries, Wages, Bonus, etc. |
|
|
0.467 |
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Managerial Remuneration |
|
|
0.499 |
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|
Interest |
|
|
0.254 |
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Insurance Expenses |
|
|
0.038 |
|
|
Power & Fuel |
|
|
0.396 |
|
|
Depreciation & Amortization |
|
|
0.109 |
|
Total Expenditure |
|
|
18.495 |
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CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.44.45 |
|
|
1 |
Rs.71.58 |
|
Euro |
1 |
Rs.63.01 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
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
|
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 |
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 |
|
NB |
New Business |
-- |
|
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.