MIRA INFORM REPORT
|
Report Date : |
21.04.2011 |
Note : The Correct name of the company is MASCOT GLOBAL
Private Limited.
IDENTIFICATION DETAILS
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Name : |
MASCOT GLOBAL Private Limited
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Registered Office : |
Gangotri Glacier Annex, Kavesar, Opposite Vijay Nagari,
Off |
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Country : |
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Financial as on : |
31.03.2010 |
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Date of Incorporation : |
13.03.2008 |
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Com. Reg. No.: |
11-180073 |
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CIN No.: [Company
Identification No.] |
U51109MH2008PTC180073 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturing and Distribution of engineering goods accessories |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (44) |
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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 96000 |
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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 has taken over the running business of erstwhile sole proprietory
concern Mascot International. It is an established company having
satisfactory track. Trade relations are reported as fair. Business is active.
Payments are reported to be usually correct and as per commitments. The company 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 |
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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 : |
Ms. Savita |
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Designation : |
Export - Import Department |
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Date : |
20.04.2011 |
LOCATIONS
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Registered Office : |
Gangotri Glacier Annex, Kavesar, Opposite Vijay Nagari,
Off Ghodbunder Road, Thane – 400607, Maharashtra, India |
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Tel. No.: |
91-22-25976464 / 6465 / 6455 |
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Fax No.: |
91-22-25976466 |
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Mobile No.: |
91-9819131067 (Mr. Girish
Kamath) |
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E-Mail: |
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Websites : |
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Area : |
1000 Sq.fts |
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Location : |
Owned |
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Corporate Office : |
2 nd
Floor, Magnolia, Eden Woods Complex, |
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Tel. No.: |
91 - 22 - 25899482 / 25890898 |
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Fax No.: |
91 - 22 - 25899477 |
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E-Mail : |
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Website : |
http://www.mascotintl.com (Under
Construction) |
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Area : |
2000 sq. ft. |
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Location : |
Owned |
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Resident Representatives : |
Located At :
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DIRECTORS
As on : 23.09.2010
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Name : |
Mr. Girish Kamath |
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Designation : |
Director |
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Address : |
501, Pararnount, Hiranandani Estate, Patlipada, |
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Date of Birth/Age : |
04.05.1976 |
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Qualification : |
BA |
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Date of Appointment : |
13.03.2008 |
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Name : |
Mr. Arvind Laxminarayan Kamath |
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Designation : |
Director |
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Address : |
501, Pararnount, Hiranandani Estate, Patlipada, |
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Date of Birth/Age : |
12.01.1969 |
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Qualification : |
B. Com |
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Date of Appointment : |
02.05.2008 |
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Name : |
Mr. Girsih Bhalchandra N. Kamath |
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Designation : |
Director |
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Address : |
Flat No 21, Plot No 18, Sector - 3, New, Panvel Chs, New Panvel –
410206, |
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Date of Birth/Age : |
23.12.1979 |
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Qualification : |
B. Com |
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Date of Appointment : |
31.03.2008 |
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Name : |
Mr. Pradeep Dhole |
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Designation : |
Director |
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Address : |
C 204, Eskay Complex, Covind Dharn, IYumbai Pune Road, Kalwa – 400605,
India |
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Date of Birth/Age : |
24.01.1972 |
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Qualification : |
B. Com |
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Date of Appointment : |
13.03.2008 |
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Name : |
Mr. Uma Natarajan |
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Designation : |
Director |
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Address : |
F-4,Bima Nagar Chs Ltd, Sir I\4 V Road, Andheri East, Mumbai – 400059,
Maharashtra, India |
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Date of Birth/Age : |
24.01.1972 |
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Date of Appointment : |
13.03.2008 |
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Name : |
Mr. Varadhan Tanjore Raghavachari |
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Designation : |
Director |
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Address : |
B-111, Sangeetha Appartments, Malleswaram 5th Cross, |
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Date of Birth/Age : |
18.09.1962 |
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Date of Appointment : |
02.05.2008 |
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KEY EXECUTIVES
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Name : |
Mr. Girish Kamath |
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Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 23.09.2010
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Names of Shareholders |
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No. of Shares |
|
Jma Nataralan |
|
225000 |
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Prajwal Arvind Kamath |
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225000 |
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Girish Bhalchandran Kamath |
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10000 |
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Sandeep Gupta |
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10000 |
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S. Ramesh |
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10000 |
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Ketan Parikh |
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10000 |
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Arvind Kamath |
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5000 |
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Varadhan Raghavachari |
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5000 |
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Total |
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500000 |
AS ON 23.09.2010
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Category |
Percentage |
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Bodies corporate |
94.00 |
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Directors or relatives of Directors |
6.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and Distribution of engineering goods accessories |
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Products : |
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Agencies Held : |
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GENERAL INFORMATION
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Customers : |
End Users and OEM’s
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No. of Employees : |
15 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Manoj Kale and Company Chartered Accountant |
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Address : |
104, Tejas Apartment, 1st Floor, |
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Associates/Subsidiaries : |
Mascot International (Firm) |
CAPITAL STRUCTURE
As on : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
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|
500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
500000 |
Equity Shares |
Rs. 10/-
each |
Rs. 5.000
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
|
5.000 |
2.000 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
19.111 |
3.662 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
24.111 |
5.662 |
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LOAN FUNDS |
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1] Secured Loans |
|
0.000 |
0.000 |
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2] Unsecured Loans |
|
0.000 |
1.009 |
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TOTAL BORROWING |
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0.000 |
1.009 |
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DEFERRED TAX LIABILITIES |
|
0.040 |
0.035 |
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TOTAL |
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24.151 |
6.706 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
1.636 |
1.318 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.003 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
|
10.262
|
4.515 |
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Sundry Debtors |
|
50.033
|
24.920 |
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Cash & Bank Balances |
|
7.348
|
3.212 |
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Other Current Assets |
|
0.000
|
0.000 |
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Loans & Advances |
|
18.084
|
2.863 |
|
Total
Current Assets |
|
85.727
|
35.510 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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|
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Other Current Liabilities |
|
29.444
|
15.524 |
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Provisions |
|
33.887
|
14.727 |
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Total
Current Liabilities |
|
63.331
|
30.251 |
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Net Current Assets |
|
22.396
|
5.259 |
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MISCELLANEOUS EXPENSES |
|
0.116 |
0.129 |
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TOTAL |
|
24.151 |
6.706 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2009 |
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SALES |
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Income |
|
|
87.071 |
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Other Income |
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|
3.680 |
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TOTAL |
|
|
90.751 |
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Less |
EXPENSES |
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|
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Office Expenses |
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Administrative Expenses |
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|
81.757 |
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Advertising Expenses |
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Interest |
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TOTAL |
|
|
84.757 |
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|
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
5.994 |
|
|
|
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|
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Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
0.400 |
|
|
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PROFIT BEFORE
TAX |
|
|
5.594 |
|
|
|
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|
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|
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Less |
TAX |
|
|
1.932 |
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PROFIT AFTER TAX |
|
|
3.662 |
|
|
|
|
|
|
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EARNINGS IN
FOREIGN CURRENCY |
|
|
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|
|
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Export Earnings |
|
|
0.339 |
|
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TOTAL EARNINGS |
|
|
0.339 |
|
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Earnings Per
Share (Rs.) |
|
|
7.32 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
|
-- |
4.03 |
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|
Net Profit Margin (PBT/Sales) |
(%) |
|
-- |
6.42 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
-- |
15.18 |
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Return on Investment (ROI) (PBT/Networth) |
|
|
-- |
0.98 |
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Debt Equity Ratio (Total Liability/Networth) |
|
|
2.62 |
5.52 |
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Current Ratio (Current Asset/Current Liability) |
|
|
1.35 |
1.17 |
LOCAL AGENCY FURTHER INFORMATION
Financial highlights
The Company has
earned enormous profits during the Financial year.. The profit before tax has increased
by more than 400olo as compared to the previous year. Since the accounts were
rotated to the concerned parties the exact financial highlights are not
mentioned in the Director’s Report.
Operations
The Company has
grown enormously in its business of manufacturing and distribution of
engineering goods accessories. It has also secured the largest order of Rs.
110.000 millions from Essar group. It also gives tremendous pleasure to the
Board to inform that the Company has acquired a factory on lease at Ambernath
for fulfilling the main objects of the Company wherein the manufacturing
operations have begun with effect from 10th May, 2010.
Form : 8
|
Corporate
identity number of the company |
U51109MH2008PTC180073 |
|
Name of the
company |
MASCOT GLOBAL
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Gangotri Glacier
Annex, Kavesar Opp Vijay Nagari,Thane (W), Thane – 400607, Maharashtra, India |
|
This form is for |
Creation of
charge |
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Type of charge |
Book debts Floating charge Others |
|
Particular of
charge holder |
State Bank of |
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Nature of
instrument creating charge |
1) Letter of Arrangement 2) Agreement of
Loan cum Hypothecation (Both these
documents shall constitute a single charge.) |
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Date of
instrument Creating the charge |
24/07/2010 |
|
Amount secured by
the charge |
Rs. 80.000
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest 14% Terms of repayment Repayable on
Demand Margin Letter of Credit
- 15% Bank Guarantees -
15%. Extent and operation of the charge Total limit of Rs.
80.000 millions consist of the following: DCC - Rs. 30.000
millions Letter of Credit
- Rs. 40.000 millions Bank Guarantee -
Rs. 10.000 millions Other Nil |
|
Short particulars
of the property charged (Including location of the property) |
|
Fixed Assets :
- Computers
- Air Conditioners
- Furniture and Fixtures
- Other Office Equipments
- Testing Equipments
- Plant and Machinery
AS PER WEBSITE
Company Profile
Subject an industrial marketing organization was established in
2001 with a business purpose of
- Profit
through customer and principal satisfaction
- Knowledge,
skill Imparting
- Business
and Personal growth by sharing
They provide complete marketing
solutions in a competitive Industrial Marketing Environment. They have
established their selves in
People is the core strength of the
Organizaion An experienced lot, with a positive attitude are always pleased to
serve the customer, well net worked and work with a positive attitude. The
activities include, manufacturing packaging, Liaisoning, Agency Business,
Consultancy and Training. Their representatives are present at
In a short span they are proud to
have an association with impressive list of companies to represent their
products in
Their vision is to become one of
the leading Industrial marketing solution provider in
Liasioning:
They Offer Project and Customer
Specific marketing services for high value contracts. Their strength are with
the large public and private sector companies in India involved with Oil and Gas,
refining and petro chemical business.
Being well versed with the
Purchasing system in Indian industry and with the excellent network, they are
very effective in providing marketing services and liasioning with the
customers for capital equipment supplies and large contracts for the Indian
industry.
Training:
Having hands on experience in
relevent Industrial field they can provide training in the following specific
areas:-
- Industrial
Marketing
- Centrifugal
pumps
- Mechanical
seals
- Oil
Mist Lubrication Systems
They can design the training
programme based on the customer needs.
Consultancy:
They offer professional
consultancy in:
Industrial marketing : To position and sell industrial equipments for the Indian
Industry. To understand the purchasing norms and price the engineered products.
Help to increase the market share, and also price the realisation of the
product.
Rotating equipments: Selection of pumps and mechanical seals, increasing the
productivity, reducing the maintenance costs, substantially enhancing the
bearing life, reducing the spares inventory and spares costs, and to help
eliminate the down time of rotating equipments and the mechanical seals.
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. 44.38 |
|
|
1 |
Rs. 72.57 |
|
Euro |
1 |
Rs. 63.92 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
44 |
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 |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.