MIRA INFORM REPORT
|
Report Date : |
12.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
M. AKASH ENTERPRISES |
|
|
|
|
Registered
Office : |
KC – 4/101, Ajmera Housing Society, Pimpri, Pune – 411018, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
22.07.2004 |
|
|
|
|
IEC No.: |
3108015524 |
|
|
|
|
PAN No.: [Permanent Account No.] |
ABKPM6395F |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business
: |
Manufacturer and Supply of Heat Exchanger, Oxygen Generator, Pressure Vessels,
Compressed Sir Piping, Heating and Chilling Coils, Steam Boiler Pipe Bending
and Coils. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established concern having satisfactory track. Trade
relations are reported as fair. The valuation report and networth statement
provided seems to be acceptable. No complaints have been heard from indirect
or market sources. It would be advisable to take adequate securities while dealing with
the subject. |
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) |
|
|
A1 |
A1 |
|
|
|
|
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Lakshmikant Mandal |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9823817817 |
|
Date : |
28.03.2011 |
LOCATIONS
|
Registered Office : |
KC – 4/101, Ajmera Housing Society, Pimpri, Pune – 411018, |
|
Mobile No.: |
91-9823817817 (Mr. Lakshmikant Mandal) |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
Hari Om Industrial Estate, Gat No.90, Jyotiba Nagar, Talawde, Pune –
412114, |
|
Tel. No.: |
91-20-27691752 |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Lakshmikant Mandal |
|
Designation : |
Proprietor |
|
Address : |
KC – 4/101, Ajmera Housing society, Pimpri, Pune – 411018, |
|
Date of Birth/Age : |
27.11.1958 |
|
Qualification : |
Diploma in Mechanical Engineering |
|
Experience : |
23 years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supply of Heat Exchanger, Oxygen Generator, Pressure
Vessels, Compressed Sir Piping, Heating and Chilling Coils, Steam Boiler Pipe
Bending and Coils. |
|
|
|
|
Terms : |
|
|
Selling : |
Credit (90 days) |
|
|
|
|
Purchasing : |
Credit (60 days) |
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
|
|
|
|
|
|
Heat Exchanger, Pressure Vessel, Compressed Air Piping |
Tone |
1000 |
800 |
|
|
|
|
|
GENERAL INFORMATION
|
Suppliers : |
· Ajay Enterprises · Ansh Quality Services · Ayush Engineering Company · Bajaj Industrial Alloys Private Limited · Bhakti Lifters · B R Packing · Chitra Printers · Dhand and Associates · Gagangiri Engineering · Gaurav commercial corporation ·
Harish Metal · Ideal Tool centre · Kunal Consultancy Services · L G Enterprises · Manish Industrial Corporation · Parth Trading corporation · Pioneer Enterprises ·
· Rajdeep Electric · Sankalp steel tech corporation · Shivani Sales corporation · Shree Ram Industries · Shri om Transports · Steel Tube · Super Sales and Services · Thermax Limited · Trimurti Industries · Web Computers |
|
|
|
|
Customers : |
End Users · Aditya Engineers · Albaj Engineering Corporation · Aster Engineering Corporation · Ameya Enterprises · Deshpande Engineering · Enviro – Abrasion Re Engg. Private Limited ·
Grauer and Well ( · Helicon Engg Company · KIailash Vahan Undyog Limited · Khandelwal Engineers ·
Legrand ( · Metal Art Engineers · MRJS Leads · Perfect Engineering Works · Pratik Enterprises · R V Enterprises · Shree Digvijay Cement Company Limited · Steel Wings · Ther G Engineers group · Watsila India Limited |
|
|
|
|
No. of Employees : |
31 (Approximately) (Office – 3 and
Factory – 28) |
|
|
|
|
Bankers : |
· Corporation Bank · Cosmos Co-operative Bank, Ajmera · ICICI Bank · HDFC Bank |
|
|
|
|
Facilities : |
Credit Limit – Rs.1.000 Million |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
VPR and Associates Chartered Accountant |
|
Address : |
SR No.884/5, Minal Apartments, Nal Stop, |
|
Tel No.: |
91-20-25465134 |
|
Mobile No.: |
91-9890634222 |
|
Email : |
|
|
Website : |
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|
|
|
|
Associates/Subsidiaries : |
· Tecchnovision Equipments Private Limited KC – 4/101,
Ajmera Housing Society, Pimpri, Pune – 411018, |
CAPITAL STRUCTURE
CAPITAL
ACCOUNT
(RS. IN MILLIONS)
|
Particulars |
31.03.2010 |
Particulars |
31.03.2010 |
|
|
|
|
|
|
To Drawings |
0.453 |
By Balance B/d |
1.482 |
|
To LIC |
0.094 |
By Interest on FD |
0.002 |
|
To Interests on
Housing Loan |
0.146 |
By Interest on RD |
0.008 |
|
|
|
By Salary – Technovision Private Limited |
0.150 |
|
|
|
By Interests on NSC |
0.011 |
|
To Balance C/d |
1.405 |
By Profit Transferred from Profit and loss account |
0.445 |
|
|
|
|
|
|
Total |
2.098 |
Total |
2.098 |
------------------------------------------------------------------------------------------------------------------------------
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1.405 |
1.482 |
1.134 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1.405 |
1.482 |
1.134 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2.688 |
2.683 |
0.669 |
|
|
2] Unsecured Loans |
1.591 |
0.467 |
0.236 |
|
|
TOTAL BORROWING |
4.279 |
3.150 |
0.905 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5.684 |
4.632 |
2.039 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3.351 |
3.579 |
1.125 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.433 |
0.419 |
0.204 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
7.924
|
5.479 |
2.958 |
|
|
Sundry Debtors |
1.088
|
2.584 |
1.441 |
|
|
Cash & Bank Balances |
0.060
|
0.154 |
0.088 |
|
|
Other Current Assets |
0.454
|
0.304 |
0.176 |
|
|
Loans & Advances |
0.139
|
0.174 |
0.379 |
|
Total
Current Assets |
9.665
|
8.695 |
5.042 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
5.113
|
6.774 |
2.882 |
|
|
Other Current Liabilities |
1.334
|
0.000 |
1.450 |
|
|
Provisions |
1.318
|
1.287 |
0.000 |
|
Total
Current Liabilities |
7.765
|
8.061 |
4.332 |
|
|
Net Current Assets |
1.900
|
0.634 |
0.710 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
5.684 |
4.632 |
2.039 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
12.488 |
20.908 |
6.189 |
|
|
|
Other Income |
0.000 |
0.013 |
0.009 |
|
|
|
TOTAL (A) |
12.488 |
20.921 |
6.198 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
9.579 |
16.141 |
4.061 |
|
|
|
Power |
0.114 |
0.165 |
0.087 |
|
|
|
Excise Duty Paid |
0.151 |
1.227 |
0.000 |
|
|
|
Octroi Charges |
0.014 |
0.000 |
0.000 |
|
|
|
Wages |
0.719 |
1.032 |
0.847 |
|
|
|
Vat Paid |
0.111 |
0.000 |
0.000 |
|
|
|
Advertisement |
0.084 |
0.093 |
0.019 |
|
|
|
Office Expenses |
0.061 |
0.093 |
0.117 |
|
|
|
Labour Welfare |
0.077 |
0.000 |
0.000 |
|
|
|
Salary |
0.157 |
0.162 |
0.000 |
|
|
|
Telephone Expenses |
0.087 |
0.105 |
0.036 |
|
|
|
Transport Charges |
0.076 |
0.027 |
0.169 |
|
|
|
Travelling and Conveyance |
0.050 |
0.146 |
0.058 |
|
|
|
Other Expenses |
0.288 |
0.634 |
0.217 |
|
|
|
TOTAL (B) |
11.568 |
19.825 |
5.611 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
0.920 |
1.096 |
0.587 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.247 |
0.249 |
0.073 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.673 |
0.847 |
0.514 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.228 |
0.237 |
0.203 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT (E-F) (G) |
0.445 |
0.610 |
0.311 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.56
|
2.92 |
5.02 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.56
|
2.92 |
5.03 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.42
|
4.97 |
5.04 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32
|
0.41 |
0.27 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
8.57
|
7.56 |
4.62 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25
|
1.08 |
1.16 |
LOCAL AGENCY FURTHER INFORMATION
OPERATING STATEMENT
(RS. IN MILLIONS)
|
Particulars
|
31.03.2011 |
31.03.2012 |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
|
|
|
|
|
|
Capacity Utilization |
100.00 |
100.00 |
100.00 |
100.00 |
100.00 |
|
|
|
|
|
|
|
|
Gross Sales |
|
|
|
|
|
|
Domestic |
22.670 |
47.500 |
37.375 |
42.981 |
49.428 |
|
Export |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Total Gross Sales |
22.670 |
47.500 |
37.375 |
42.981 |
49.428 |
|
|
|
|
|
|
|
|
Less : Excise Duty |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Net Sales |
22.670 |
47.500 |
37.375 |
42.981 |
49.428 |
|
|
|
|
|
|
|
|
% rise [+] or fall [-] in net sales as compared to
previous year |
-- |
-- |
-- |
-- |
-- |
|
|
|
|
|
|
|
|
Other Operating
Income |
|
|
|
|
|
|
Export Incentives |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Others |
0.029 |
0.034 |
0.035 |
0.036 |
0.037 |
|
|
|
|
|
|
|
|
Other Operating
Income - |
0.029 |
0.034 |
0.035 |
0.036 |
0.037 |
|
|
|
|
|
|
|
|
Cost
of Sales |
|
|
|
|
|
|
|
|
|
|
|
|
|
Raw Materials Consumed |
|
|
|
|
|
|
-
Imported |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
-
Indigenous |
18.254 |
36.550 |
24.501 |
28.389 |
32.694 |
|
|
|
|
|
|
|
|
Others Stores and Spares |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Power and Fuel |
0.150 |
0.690 |
0.750 |
0.850 |
0.950 |
|
Direct Wages (Factory Wages and Salaries) |
1.980 |
3.672 |
4.405 |
5.031 |
5.764 |
|
Repairs and Maintenance |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Direct Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Manufacturing Expenses |
0.234 |
1.279 |
1.470 |
1.663 |
1.921 |
|
Depreciation |
0.187 |
0.930 |
0.795 |
0.684 |
0.589 |
|
|
|
|
|
|
|
|
Sub
Total |
20.805 |
43.121 |
31.921 |
36.617 |
41.918 |
|
|
|
|
|
|
|
|
(Increase)/ Decrease in WIP |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
(Increase)/ Decrease in Finished Goods |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
SUB TOTAL (Total
cost of sales) |
20.805 |
43.121 |
31.921 |
36.617 |
41.918 |
|
|
|
|
|
|
|
|
Selling, General and Administrative Expenses |
0.718 |
1.058 |
1.185 |
1.362 |
1.571 |
|
|
|
|
|
|
|
|
Operating Profit before interests |
1.177 |
3.355 |
4.304 |
5.038 |
5.976 |
|
|
|
|
|
|
|
|
Interests on Term Loan |
0.103 |
1.547 |
1.053 |
0.952 |
0.853 |
|
Interests on WC Limit and Bank Charges |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Operating profit after Interests |
|
|
|
|
|
|
|
|
|
|
|
|
|
Non Operating Income |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Non Operating Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Net
of Non-operating Income and Expenses |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Profit
before Tax/ Loss [PBT] |
1.074 |
1.808 |
3.251 |
4.086 |
5.123 |
|
|
|
|
|
|
|
|
Provision for taxes |
0.000 |
0.427 |
0.860 |
1.112 |
1.422 |
|
|
|
|
|
|
|
|
Net
Profit / Loss [PAT] |
1.074 |
1.381 |
2.391 |
2.974 |
3.701 |
|
|
|
|
|
|
|
|
Dividend |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
Cash Profit |
1.261 |
2.311 |
3.186 |
3.658 |
4.290 |
|
|
|
|
|
|
|
|
Cash
Profit plus Interests on Term Loans (A) |
1.364 |
3.858 |
4.239 |
4.610 |
5.143 |
|
|
|
|
|
|
|
|
Installments
due under Term Loans: |
|
|
|
|
|
|
- Existing Term
Loans |
0.178 |
0.698 |
0.205 |
0.165 |
0.086 |
|
- Proposed Term
Loans |
0.000 |
0.000 |
0.561 |
0.639 |
0.727 |
|
|
|
|
|
|
|
|
Interests on Term Loans |
0.103 |
1.547 |
1.053 |
0.952 |
0.853 |
|
|
|
|
|
|
|
|
Sub
Total (B) |
0.281 |
2.245 |
1.819 |
1.756 |
1.666 |
|
|
|
|
|
|
|
|
DSCR
A/ B/ |
4.85 |
1.72 |
2.33 |
2.63 |
3.09 |
------------------------------------------------------------------------------------------------------------------------------
BALANCE SHEET
(RS. IN MILLIONS)
|
Particulars
|
31.03.2011 |
31.03.2012 |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
|
|
|
|
|
|
CURRENT
LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
|
|
Bank Borrowings |
|
|
|
|
|
|
Installment s of Term Loans/ Deferred Payment Credit/
debentures/ deposits/ Redeemable Preference shares (Due within one Year) |
|
|
|
|
|
|
|
|
|
|
|
|
|
Creditors for Purchases |
7.734 |
6.150 |
7.404 |
8.563 |
9.848 |
|
|
|
|
|
|
|
|
Provision For Taxes |
0.000 |
0.427 |
0.860 |
1.112 |
1.422 |
|
|
|
|
|
|
|
|
Other current Liabilities |
3.129 |
3.913 |
2.525 |
2.373 |
2.153 |
|
|
|
|
|
|
|
|
SUB
TOTAL (A) |
10.862 |
10.490 |
10.789 |
12.048 |
13.423 |
|
|
|
|
|
|
|
|
TERM
LIABILITIES |
|
|
|
|
|
|
|
|
|
|
|
|
|
Debentures |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Redeemable Preference Shares |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Term Loans |
2.894 |
16.770 |
5.504 |
4.700 |
3.887 |
|
Deferred Payment Credits |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Unsecured Loans |
0.818 |
0.818 |
0.818 |
0.818 |
0.818 |
|
Term Deposit |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Term Liabilities |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
SUB
TOTAL (B) |
3.712 |
17.588 |
6.322 |
5.518 |
4.705 |
|
|
|
|
|
|
|
|
NET
WORTH |
|
|
|
|
|
|
Equity Shares Capital |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Application Money |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Partner’s Capital/ Capital Brought in the Proprietor |
2.538 |
3.619 |
6.036 |
8.714 |
12.114 |
|
General Reserve |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Revolution Reserve |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Reserves and Surplus |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Unsecured Loans |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Share Premium Account |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Surplus (+) or deficit (-) in Profit and Loss Account |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL
NET WORTH (C) |
2.538 |
3.619 |
6.036 |
8.714 |
12.114 |
|
|
|
|
|
|
|
|
TOTAL
LIABILITIES (A+B+C) |
17.113 |
31.697 |
23.147 |
26.280 |
30.242 |
|
|
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
CURRENT
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and Bank Balance |
0.055 |
0.150 |
0.180 |
0.250 |
0.280 |
|
Investments [Other than long term investments] |
0.589 |
0.589 |
0.800 |
0.850 |
0.900 |
|
Receivables other than deferred and exports |
3.672 |
11.875 |
6.852 |
7.880 |
9.062 |
|
Export receivables |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Government and other Trustee securities |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Fixed deposit with bank |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Domestic receivable Including BP/ BD |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVENTORY |
|
|
|
|
|
|
|
|
|
|
|
|
|
Inventory of Raw Materials, WIP and FGs |
8.650 |
9.000 |
9.719 |
10.690 |
11.759 |
|
|
|
|
|
|
|
|
Other Consumable Spares |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Advances to suppliers |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Advance Payment of Taxes |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Current Assets |
0.932 |
1.149 |
2.459 |
4.157 |
6.377 |
|
|
|
|
|
|
|
|
TOTAL
CURRENT ASSETS (A) |
13.899 |
22.763 |
20.010 |
23.827 |
28.378 |
|
|
|
|
|
|
|
|
FIXED
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross Block (Land and Building Machinery) |
3.351 |
9.814 |
8.884 |
8.087 |
7.403 |
|
Depreciation to date |
0.187 |
0.930 |
0.797 |
0.684 |
0.589 |
|
|
|
|
|
|
|
|
NET
BLOCK |
3.165 |
8.884 |
8.087 |
7.403 |
6.814 |
|
|
|
|
|
|
|
|
Capital WIP |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
SUB
TOTAL (B) |
3.165 |
8.884 |
8.087 |
7.403 |
6.814 |
|
OTHER
NON CURRENT ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
Investments in sub |
0.050 |
0.050 |
0.050 |
0.050 |
0.050 |
|
Advances to suppliers of Capital goods and contractors |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Investment in Others |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Other Non-Current Investment |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL
OTHER NON CURRENT ASSETS (C) |
0.050 |
0.050 |
0.050 |
0.050 |
0.050 |
|
|
|
|
|
|
|
|
Intangible Assets (D) |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL
ASSETS (A+B+C+D) |
17.113 |
31.697 |
28.147 |
31.280 |
35.242 |
------------------------------------------------------------------------------------------------------------------------------
CASH FLOW STATEMENT
(RS.
IN MILLIONS)
|
Particulars |
31.03.2011 |
31.03.2012 |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
|
|
|
|
|
|
SOURCES
OF CASH |
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit before interests and tax less
adjustments for non-cash revenue |
0.000 |
3.355 |
4.304 |
5.038 |
5.976 |
|
Depreciation |
0.000 |
0.930 |
0.795 |
0.684 |
0.589 |
|
Preliminary Expenses written off |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Loss on sales of fixed assets |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Issue of equity shares |
0.000 |
1.081 |
2.417 |
2.678 |
3.400 |
|
Issue of Preference Shares |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Issue of debentures |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Raising of Long term loans |
0.000 |
13.876 |
0.000 |
0.000 |
0.00 |
|
Raising of other long term unsecured
loans/ deposits etc. |
0.000 |
0.000 |
0.000 |
0.000 |
0.00 |
|
|
0.000 |
0.000 |
0.002 |
0.000 |
0.000 |
|
Increase in current liabilities |
0.000 |
0.000 |
0.000 |
1.007 |
1.065 |
|
Decrease in current assets |
0.000 |
0.000 |
2.783 |
0.000 |
0.000 |
|
Increase in short term borrowing |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Decrease in Non-current assets/ Investments |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
SUB
TOTAL (A) |
0.000 |
19.242 |
10.301 |
9.407 |
11.030 |
|
|
|
|
|
|
|
|
APPLICATION
OF CASH |
|
|
|
|
|
|
|
|
|
|
|
|
|
Redemption of Redeemable Preference
shares |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Redemption of debentures |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Repayment of Long Term Loans |
0.000 |
0.000 |
11.266 |
0.804 |
0.813 |
|
Repayment of Long term unsecured loans/
deposits etc. |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Purchased of fixed Assets |
0.000 |
6.649 |
0.000 |
0.000 |
0.000 |
|
Decrease in current Liabilities |
0.000 |
0.799 |
0.134 |
0.000 |
0.000 |
|
Increase in Current Assets |
0.000 |
8.769 |
0.000 |
3.747 |
4.521 |
|
Increase in Non Current Assets/
Investments |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Interests paid |
0.000 |
1.547 |
1.053 |
0.952 |
0.853 |
|
Tax Paid
|
0.000 |
0.000 |
0.427 |
0.860 |
1.112 |
|
Dividend paid |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
SUB-TOTAL
(B) |
0.000 |
17.765 |
12.880 |
6.363 |
7.299 |
|
|
|
|
|
|
|
|
Net
Surplus (A-B) |
0.000 |
(17.765) |
(2.579) |
3.044 |
3.731 |
|
|
|
|
|
|
|
|
Opening Cash Balance |
0.000 |
0.055 |
0.150 |
0.180 |
0.250 |
|
|
|
|
|
|
|
|
Closing Cash Balance |
0.000 |
0.150 |
0.180 |
0.250 |
0.280 |
------------------------------------------------------------------------------------------------------------------------------
BUSINESS
PROJECTIONS AND DSCR
(RS. IN MILLIONS)
|
Particulars |
31.03.2011 |
31.03.2012 |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
|
|
|
|
|
|
|
Capacity utilization (%) |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
|
|
|
|
|
|
|
Net Sales |
22.670 |
47.500 |
37.375 |
42.981 |
49.428 |
|
PAT |
1.074 |
1.381 |
2.391 |
2.974 |
3.701 |
|
Cash Profit |
1.261 |
2.311 |
3.186 |
3.658 |
4.290 |
|
Add: Interests on TL |
0.103 |
1.547 |
1.053 |
0.952 |
0.853 |
|
|
|
|
|
|
|
|
TOTAL (A) |
1.364 |
3.858 |
4.239 |
4.610 |
5.143 |
|
|
|
|
|
|
|
|
Installments due under TLs |
|
|
|
|
|
|
- Existing TLs |
0.178 |
0.698 |
0.205 |
0.165 |
0.086 |
|
- Proposed TLs |
0.000 |
0.000 |
0.561 |
0.639 |
0.727 |
|
Interests on TLs |
0.103 |
1.547 |
1.053 |
0.952 |
0.853 |
|
|
|
|
|
|
|
|
TOTAL
(B) |
0.281 |
2.245 |
1.819 |
1.756 |
1.666 |
|
|
|
|
|
|
|
|
DSCR
(A/B) |
4.85 |
1.72 |
2.33 |
2.63 |
3.09 |
------------------------------------------------------------------------------------------------------------------------------
DSCR
SCENARIOS FOR A COMPANY
(AS
DISTINGUISHED FROM A PROJECT)
(RS. IN MILLIONS)
|
Particulars |
31.03.2011 |
31.03.2012 |
31.03.2013 |
31.03.2014 |
31.03.2015 |
|
Scenario for a fall in Total Operating Income |
|
|
|
|
|
|
|
|
|
|
|
|
|
% fall in revenue |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Total Operating Income (shocked downwards) |
22.699 |
47.534 |
37.410 |
43.017 |
49.465 |
|
Cost of Sales + SGA |
21.523 |
44.179 |
33.106 |
37.979 |
43.489 |
|
Operating Profit before Interest |
1.177 |
3.355 |
4.304 |
5.038 |
5.976 |
|
Interest |
0.103 |
1.547 |
1.053 |
0.952 |
0.853 |
|
Operating Profit after Interest |
1.074 |
1.808 |
3.251 |
4.086 |
5.123 |
|
Net of non operating income/ expenses |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit before tax |
1.074 |
1.808 |
3.251 |
4.086 |
5.123 |
|
Provision for Tax |
0.000 |
0.427 |
0.860 |
1.112 |
1.422 |
|
PAT |
1.074 |
1.381 |
2.391 |
2.974 |
3.701 |
|
|
|
|
|
|
|
|
Installments of Term Loans/ Deferred payment credits/ Debentures/
deposits (due within one year) |
0.178 |
0.698 |
0.766 |
0.804 |
0.813 |
|
Interest |
0.103 |
1.547 |
1.053 |
0.952 |
0.853 |
|
|
|
|
|
|
|
|
DSCR (for a fall in Op Rev) |
4.85 |
1.72 |
2.33 |
2.63 |
3.09 |
|
|
|||||
|
Scenario for a rise in operating expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
% rise in Op Expenses |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
|
Total Operating Income |
22.699 |
47.534 |
37.410 |
43.017 |
49.465 |
|
Cost of Sales + SGA (shocked upwards) |
21.523 |
44.179 |
33.106 |
37.979 |
43.489 |
|
Operating Profit before Interest |
1.177 |
3.355 |
4.304 |
5.038 |
5.976 |
|
Interests |
0.103 |
1.547 |
1.053 |
0.952 |
0.853 |
|
Operating Profit after Interest |
1.074 |
1.808 |
3.251 |
4.086 |
5.123 |
|
Net of non operating income/ expenses |
0.000 |
0.000 |
0.000 |
0.000 |
0.000 |
|
Profit before tax |
1.074 |
1.808 |
3.251 |
4.086 |
5.123 |
|
Provision for tax |
0.000 |
0.427 |
0.860 |
1.112 |
1.422 |
|
PAT |
1.074 |
1.381 |
2.391 |
2.974 |
3.701 |
|
|
|
|
|
|
|
|
Installments of Term Loans/ Deferred payment credits/ Debentures/ deposits
(due within one year) |
0.178 |
0.698 |
0.766 |
0.804 |
0.813 |
|
Interest |
0.103 |
1.547 |
1.053 |
0.952 |
0.853 |
|
|
|
|
|
|
|
|
DSCR (for a rise in Op Expense) |
4.85 |
1.72 |
2.33 |
2.63 |
3.09 |
------------------------------------------------------------------------------------------------------------------------------
COMPUTATION
OF TOTAL INCOME
(RS. IN MILLIONS)
|
Particulars |
2010-2011 |
||
|
|
|
|
|
|
Income from salary |
|
|
0.150 |
|
|
|
|
|
|
Technovision Equipments Private Limited |
|
|
|
|
Hari Om Industrial Estate, Gat No.-90,
Jyotiba Nagar, -
Salary |
|
0.150 |
|
|
|
|
|
|
|
Income from House property |
|
|
(0.104) |
|
|
|
|
|
|
Self Occupied Property |
|
|
|
|
Anand Apartments Chikali |
|
|
|
|
Interests U/s 24 (b) (145631) |
|
(0.146) |
|
|
|
|
|
|
|
Ajmera |
|
|
|
|
Annual Lettable Value – 0060 |
|
|
|
|
Rent Receivable – 0.000 |
|
|
|
|
Annual Rental Value u/s 23 |
|
0.060 |
|
|
|
|
|
|
|
Less: |
|
|
|
|
Deduction U/s 24 (A) |
0.018 |
|
|
|
|
|
0.018 |
0.042 |
|
|
|
|
|
|
Income From Business or Profession |
|
|
0.445 |
|
|
|
|
|
|
Profit as per Profit and Loss a/c |
0.445 |
|
|
|
Add: |
|
|
|
|
Depreciation debited in P and L a/c |
0.228 |
|
|
|
|
0.673 |
|
|
|
Less: |
|
|
|
|
Depreciation as per chart u/s 32 |
0.228 |
|
|
|
|
|
0.445 |
|
|
|
|
|
|
|
Income From Other Sources |
|
|
0.011 |
|
Interests NSC Rs.90000 6th year @
12.08% FY 2003-04 |
|
0.011 |
|
|
|
|
|
|
|
GROSS TOTAL INCOME |
|
|
0.502 |
|
|
|
|
|
|
Less: Deduction |
|
|
|
|
U/s 80 C |
|
|
|
|
LIP |
0.094 |
|
|
|
House Loan |
0.021 |
|
|
|
Total |
0.115 |
|
|
|
|
|
0.100 |
0.100 |
|
|
|
|
|
|
TOTAL INCOME |
|
|
0.402 |
|
|
|
|
|
|
Round off u/s 288 A |
|
|
0.402 |
|
|
|
|
|
|
Tax due |
|
0.035 |
|
|
Educational Cess |
|
0.001 |
|
|
|
|
0.036 |
|
|
TDS |
|
0.094 |
|
|
|
|
(0.058) |
|
|
Refundable (Round of u/s 288 B) |
|
0.058 |
|
------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF ASSETS AND LIABILITIES
MR. SURESH
DHAND
(RS. IN MILLIONS)
ASSETS
IMMOVABLE PROPERTY
|
Address of the property with survey No./
Door No. etc/ |
Gat No.90, Jyotiba Nagar, Talawade, Pune –
412114, |
|
|
|
|
Description : Land/ Site/ Building |
|
|
|
|
|
Whether Freehold/ Leasehold |
Freehold
|
|
|
|
|
Type of Property: Commercial/ Residential/
Agricultural |
Commercial |
|
|
|
|
Area/ Extent of Land |
3027 Sq. ft. |
|
|
|
|
Present market / Assessed value |
Rs.4.500 Millions |
INVESTMENT IN BUSINESS CAPITAL
|
Name of the Company/ firm/ concern in Which
Investment is made |
M/ Akash Enterprises |
|
|
|
|
Date of Investment |
28.07.2004 |
|
|
|
|
Present Value of
Investment |
Rs.1.766 Millions |
DEPOSIT
HELD WITH BANKS/ COMPANIES/ OTHER LENDER ETC.
|
Name of the Bank/ company where deposits
are held |
Cosmos Co-operative Bank |
|
|
|
|
Nature of Deposits |
Fixed Deposits |
|
|
|
|
Present
Value of Deposits |
Rs.0.330
Million |
GOVERNMENT
SECURITIES/ NSC/ NSS ETC.
|
Description |
NSC |
|
|
|
|
Face Value |
0.090 |
|
|
|
|
Total
|
Rs.0.154
Million |
SHARES/
DEBENTURES/ MUTUAL FUNDS/ UNITS ETC.
|
Description |
Shares |
|
|
|
|
Face Value |
0.080 |
|
|
|
|
Present
value |
Rs.0.080
Millions |
LIFE INSURANCE
POLICIES
|
Policy Numbers |
6 |
|
|
|
|
Date of Policy |
1999, 1991,
2006, 2000, 2006 |
|
|
|
|
Endowment/ Whole
life etc. |
Whole Life |
|
|
|
|
Annual Premium |
0.094 |
|
|
|
|
Sum assured |
1.175 |
|
|
|
|
Surrender Value |
Rs.1.175
Millions |
VEHICLES OWNED
|
Date of Purchases |
19.10.2008 |
|
|
|
|
Whether Hypothecated for Loan |
Yes |
|
|
|
|
Details of Loans against vehicles |
0.031 |
|
|
|
|
Present Market Value |
Rs.0.275 Million |
OTHER ASSETS
|
Furniture and Fixture |
0.030 |
|
|
|
|
Cash in Hand |
0.031 |
|
|
|
|
Jewellery |
0.100 |
|
|
|
|
Plant and Machinery |
0.505 |
|
|
|
|
Other assets is any |
4.086 |
|
|
|
|
Total Value of
other Assets |
Rs.4.752 Millions |
|
TOTAL ASSETS |
RS.13.032 MILLIONS |
LIABILITIES
FURNISH LOANS
AVAILED FROM BANKS/ FINANCIAL INSTITUTION AND OTHER BORROWING
|
Name of the Bank/ Institution |
Cosmos co-operative Bank ICICI Bank HDFC Bank |
|
|
|
|
Amount of Loan Availed |
1.305 1.390 0.400 |
|
|
|
|
Security offered if any |
Residential Flat |
|
|
|
|
Amount Outstanding |
1.396 1.320 0.170 |
|
|
Total = Rs.2.886 Millions |
|
NET WORTH |
RS.10.146 MILLIONS |
------------------------------------------------------------------------------------------------------------------------------
VALUATION
REPORT
PART – I
GENERAL
INFORMATION
|
Purpose for which valuation is made |
To assess the fair market value. |
|
|
|
|
Date on which valuation is made |
25th March 2011 |
|
|
|
|
Name of the owner/owners |
Mr. Laxmikant Shrikant Mandal (M/s. M. Akash Enterprises) |
|
|
|
|
Name of the previous owner |
Mr. Krushnakumar Kishorilal Goyal |
|
|
|
|
If the property is under joint ownership/
co-ownership, share of each such owner. Are the shares undivided? |
Ownership |
|
|
|
|
Member present during inspection |
Mr. Laxmikant Shrikant Mandal |
|
|
|
|
Brief description of the property |
Plant and Machineries |
|
|
|
|
Location, Street, Ward No. |
Han |
|
|
|
|
Nearest Landmark |
Opp. lane of Windals Auto |
|
|
|
|
Survey/ Plot No. of land |
Gat No. 90 (Old Survey No. 33 and 56) |
|
|
|
|
Is the property situated in residential Commercial / mixed area / industrial area |
Industrial Area |
|
|
|
|
Proximity to civic amenities like banks,
hospitals, market, etc. |
The basic amenities are available |
|
|
|
|
Means and proximity to surface communication
by which the locality is served. |
By road transport situated at app. 5 kms
from Nigadi Bus Stop |
|
|
|
|
LAND |
|
|
Area of land supported by documentary Proof,
shape, dimensions and physical Features. |
281 Sq. m. (3027 Sq. ft.) |
|
|
|
|
Roads, streets or lanes on which the land |
North : Property of Mr. Bhalekar South : East : Property of Mr. Ramesh Kulkarni West : Property of Mr. Adav and Chahate |
|
|
|
|
Is freehold or leasehold land? |
|
|
|
|
|
If leasehold, the name of lesser/lessee
Nature of lease, date of commencement And termination of lease, terms of
renewal of lease. |
N.A. |
|
|
|
|
Is there any restrictive covenant in regard
to use of land? If so, attach a copy of the covenant. |
Permitted for industrial use |
|
|
|
|
Does the land fall in an area included in
any town planning scheme or any development plan of governments or statutory
body? If so, give particulars. |
Grampanchayat Mahalunge (Ingale) |
|
|
|
|
Is the building owner - occupied/ tenanted/
both: |
Owner possession |
|
|
|
|
OWNERSHIP |
|
|
Give details of water and electricity to be
born by the owner |
As per MSEDCL |
|
|
|
|
What is the amount of property tax? Who is
to bear it? Give details with documentary proof. |
N. A. |
|
|
|
|
SALES |
|
|
Give instances of sales of immovable
property in locality on a separate sheet indicating the name and address of the
property, Registration no, |
Not Available |
|
|
|
|
If sale instance are not available or not
the basis of arriving at the land rate. |
Making market survey |
|
|
|
|
CONSTRUCTION |
|
|
Year of commencement of construction Year of completion |
App. 2006-07 App. 2007-08 |
|
|
|
|
What was the method of construction-by
Contract By employing labour directly/ Both? |
Constructed by contractor |
|
|
|
|
Built up area (As per previous valuation
report) Factory Shed Mezzanine Floor |
3000 Sq. ft. (278.70 Sq. m.) 800 Sq. ft. (74.32 Sq. m.) |
TECHNICAL
DETAILS FOR THE PREMISES
|
No. of floors and height of each floor Factory Shed |
Ground only with upper A.C. sheet roofing |
|
|
|
|
Plinth area floor - wise (As per IS 3861-
1966) |
NA |
|
|
|
|
Year of construction |
App. 2007-08 |
|
|
|
|
Estimated future life |
35 years |
|
|
|
|
Type of construction — load bearing walls /
R.C.C. Frame/Steel frame |
R.C.C. and Steel Framed structure |
|
|
|
|
Type of Foundations |
R.C.C. Foundation |
|
|
|
|
Walls |
Part brick masonry walls and Part M.S.
fabricated |
|
|
|
|
Partitions |
Brick wall |
|
|
|
|
Flooring |
Cement Concrete and Ceramic Flooring |
|
|
|
|
Door and Windows (Floor-wise) |
Rolling Shutters, Aluminum Sliding Windows and M. S. Grills |
|
|
|
|
Finishing |
Normal finishing |
|
|
|
|
Roofing and Terracing |
R.C.C. and A. C. Sheet roofing |
|
|
|
|
Internal Wiring surface or conduit |
Surface wiring |
|
|
|
|
Class of fitting superior/ Ordinary/ Poor |
Good |
|
|
|
|
VALUATION: Principle: Had
a property been put up for sale in open market, with all the relevant
information disseminated over a sufficiently long time period and either party
to sale acting knowledgeably at arm’s length without any duress, distress or
compulsions, the price of the property would have fetched on the date of
valuation would be its fair market value on that date. Methodology: They observed the
location of the building. They studied in Village Taiwade, Taluka Haveli,
District Pune. The information we thus gathered helped them to form an
opinion about its fair market value. |
|
|
|
|
|
General
description of machinery |
The machineries are used to manufacture Pressure vessels and Heat
exchanger |
|
|
|
|
Fair Market value of Property |
|
|
|
|
|
Value of Land (A) |
= Land area X Market Rate = 281 Sq. m. X’ 8,000/- Sq. m. = 2.248 Millions |
|
|
|
|
Value of |
= Built up area X Construction Rate = 3000 Sq. ft. X 600/- Sq. ft. = 1.800 Millions |
|
|
|
|
Mezzanine Floor (C) |
= Built tip area X Construction Rate = 800 Sq. ft. X 250/- Sq. ft. = 0.200 Million |
|
|
|
|
Market Value of Machinery (D) |
= 1.449 Millions |
|
|
|
|
Total
market value of property |
= (A) + (B) + (C) + (D) = 2.248 + 1.800 + 0.200 +1.449 = Rs.5.697 Millions = Rs.5.700 Millions |
------------------------------------------------------------------------------------------------------------------------------
PROJECT
REPORT
INTRODUCTION
Mr. Laxmikant Mandal the proprietor of M/s M.
Akash Enterprises is in the business of Job Work. He carries on work like
Manufacturing of Heating and Chilling Coils, Compressor Air Piping, Pressure
Vessels, Plate Rolling, Tube Bending and Rolling, Pipe Welding, Fabrication,
Hackshaw cutting, light and heavy machining etc. Subject has orders from reputed
companies like Thermax India Limited, Grauer and Weil Limited, MRJS Leads
Private Limited, Kailash Vahan Udyag Limited, Khandelwal Engineers, Pratik
Enterprises, Ronak Enterprises, etc. It has orders from Thermax India Limited
and Gastech Corporation.
Requirement for the Project:
The borrower is an vendor of Thermax Limited In Pune and
eighty percent of the work done by him is of Thermax Limited.
Thermax Limited is setting up a similar plant at Solapur
MIDC. The existing vendors have the requisite expertise and hence Thermax has
requested them to setup plants in Solapur MIDC in addition to their existing
plants.
The business of the borrower is expected to increase by 300
to 400 percent by setting up this plant.
Hence for the company’s expansion and future prospect this
project has become very important.
The
Highlights of the borrower are:
1. Machinery setup exists.
2. Job work of reputed companies.
3. Low risk as the company has placed the order and the
order will be constant.
4. No Intensive management pressure as the work will be in
Local Market.
6. Adequate Security
7. Upward Market Trend
INFORMATION
ABOUT THE BORROWER AND BUSINESS:
|
Name of Firm |
M/S M’ Akash Enterprises |
|
|
|
|
Constitution |
Proprietor |
|
|
|
|
Name and Particulars of proprietor |
Mr. Laxmikant Mandal. Age: About 45 years. Address: KC- 104, Ajmera Housing Society, Pimpri, Pune
-411018, |
|
|
|
|
Work Experience |
Mr. Laxmikant Mandal is a Diploma holder in Mechanical
Engineering. He has an working experience of 23 years. He was working with M/S PMT Machine Tools from 1984 till
2001. During the period of service he was managing an firm under the name of
M/S Mala Enterprises. In 2001 he quit the company to set up an full time
business off his own. He set up his own business under the name of M. Akash
Enterprises. During the past Eight years he has expanded his business and has
orders from many reputed companies such as Thermax India Limited, Wartsila
India Limited, Gastech Corporation , Grauer and Weil Limited etc. |
|
|
|
|
Machinery |
The borrower has the following Machines: 1. Plate Rolling 2. Pipe Bending 3. Welding Machine 4. Hackshaw Cutting 5. Tube Bending and Rolling 6. Drilling Machine 7. Pipe Rolling Machine. 8. Lathe Machine 9. Coil Making Machine 10. Radial Drill |
|
|
|
|
Power |
The required power is 40. H.P. and is already available at
the factory premises. |
|
|
|
|
Labour and Personnel |
The firm has the required skilled Workers. Skilled - 10 nos Unskilled - 18 Nos Staff- 3 |
|
|
|
|
Registration with Various Authorities |
The Firm is Registered with the following Government
Authorities. 1. Shop and Establishment Department 2. CST and VAT Department 3. Profession Tax Department. 4. SSI 5. Excise Department |
|
|
|
|
Vendors |
1. Thennax India Limited 2. Grauer and Weil Limited 3. Wartsila India Limited 4. Kailash Vahan Udyog Limited 5. Gastech Corporation 6. Khandelwal Engineers 7. Ronak Enterprises 8. Ameya Enterprises |
|
|
|
|
Means of Finance: |
The Firm requires a Cash credit Facility of Rs.10.500
Millions for its working Capital. |
------------------------------------------------------------------------------------------------------------------------------
COMPANY PROFILE:
Subject was founded by Mr. L. S. Mandal in the year of 2004
with having 18 years of experience as a manufacture and supply company.
Providing an assortment of MS, SS, TITANIUM, COPPER, various
chemical process equipments such as Pressure Vessels, Heat Exchangers, Boilers,
Heating and Chilling Coils, Pipe/Tube Bending, Oxygen Generators, and all types
of sheet metal works (Electrical Control Panel) fabrication equipments.
These products are offered in standard as well as customized
configurations, as per the client’s specific requirements. The products are
highly resistant to corrosion and are widely used in various industries such as
chemical, fertilizers, cement, textile and many more. They offer these products
in the global arena, through the support of third party export companies. The
company follows an established quality policy and is having TUVSUD, ISO
certification. They possess a team of experts who continuously strive to
satisfy the clients in every possible manner. In
PRODUCTS:
They use quality tested raw materials such as Copper. S.S
and M.S sheets, plates, angles, bars etc. to manufacture the product range which
includes pressure vessel, pressure piping, storage tank, heat exchanger, steam
boiler, heating and chilling coils, pipe bending, oxygen generator and heavy
and light fabrication. These products are known for their salient features of:
· Corrosion Resistance
· Dimensional Accuracy
· Leak Proof
· Suitable Hardness
· Durable
· Abrasion Resistance
· Rugged Construction
· High Sturdiness
· High Efficiency
· Resistant To Extreme Temperature
Industries
Catered:
These products are widely used and demanded by various
industries, some of which are as follows:
· Chemical
· Fertilizers
· Cement
· Food Processing
· Textile
· Dairy Farms
· OIL and GAS
MANUFACTURING UNITS:
They possess two manufacturing units that are
equipped with latest machines to produce the products in accordance to specific
requirements of the customers. Different machines installed in the units
include following:
• Pipe/tube bending machine upto 035- 1 no.
upto 0 50- mo.
• Pipe Coil Rolling Maching, capacity up to 3’
NB
• Plate Bending/rolling Machine.
• Tig welding facility.
• CO2 Welding Facility.
• Arc Welding Facility.
Own Machine Shop with:
• High Precession Lathe machines 3 nos.
• Radial Drill Machine.
• Piller type Drill machines.
• Pug Cutting Machines.
• Cutting sets and other assensial Tool
• Hydro and Pneumac testing Facility
available.
The two manufacturing units cover a total plot
area of 10000 square feet and have the production capacity of 10 units each.
The machines are operated and managed by a team of experts, who are an integral
part of the workforce.
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS
· Machinery
· Motorcycle
·
· Plant and Machinery
· Tools and Dies
· Honda Aviator
· Office Equipment
· Air Conditioner
· Telephone Instrument
· Land
· Car - Spark
· Residential Flat
· Computer
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.44.20 |
|
|
1 |
Rs.72.26 |
|
Euro |
1 |
Rs.63.90 |
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.