MIRA INFORM REPORT

 

 

Report Date :

30.04.2011

 

IDENTIFICATION DETAILS

 

Name :

GOLDMANN AUTOMATICS PRIVATE LIMITED

 

 

Registered Office :

75, Village Road, Bhandup, Mumbai – 400078, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

14.05.1973

 

 

Com. Reg. No.:

11-16548

 

 

CIN No.:

[Company Identification No.]

U51220MH1973PTC016548

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMG08302A

 

 

PAN No.:

[Permanent Account No.]

AAACG1454B

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturers and exporters of adhesive tapes machinery.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (46)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 21500

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject 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.

 

Profit and Loss of the company is not available.

 

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)

India

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 (General Details)

 

Name :

Ms. Meena

Designation :

Account Assistant

Contact No.:

91-22-25611324

Date :

29.04.2011

 

                       

LOCATIONS

 

Registered Office :

75, Village Road, Bhandup, Mumbai – 400078, Maharashtra, India

Tel. No.:

91-22-25611324

Mobile No.:

91-9892536188 [Mr. Gulzar Singh]

E-Mail :

goldmann@hatway.com

Website :

http://www.goldmannautomatics.com

Area :

Owned

 

 

Factory :

1, Vardhaman Industrial Estate, Village Road, Bhandup (West), Mumbai – 400078, Maharashtra, India

Tel. No.:

91-22-25618805 / 25607399 / 25919029 / 25611324 / 25668805 / 25669029

Fax No.:

91-22-25643997 / 25663997

E-Mail :

goldmann@bom5.vsnl.net.in

Area :

Owned

 

 

Distributor :

Samas International

Rue Du Mont St. Laurent 6, 7912 ST. Sauveur, Belgium

Tel No.:

+ 32 69 76 9695

 

 

DIRECTORS

As on 30.09.2010

 

Name :

Mr. Gulzaar A Bhullar

Designation :

Director

Address :

Plot No. 4, Sector 3, Shree Nagar, Thane – 400 604, Maharashtra, India

Date of Birth/Age :

10.01.1935

Date of Appointment :

14.05.1973

DIN No.:

00221780

 

 

Name :

Ms. Hardamanjit G Bhullar

Designation :

Director

Address :

Plot No. 4, Sector 3, Shree Nagar, Thane – 400 604, Maharashtra, India

Date of Birth/Age :

23.11.1939

Date of Appointment :

01.01.1983

DIN No.:

00553584

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2010

 

Names of Shareholders

 

No. of Shares

 

 

 

 

Mr. Gulzaarsingh Amarsingh Bhullar

 

700

Ms. Hardamanji Kaur Bhullar

 

300

Total

 

1000

 

As on 30.09.2010

 

Equity Share Breakup

 

Percentage of Holding

Category

 

 

Directors or relatives of directors

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturers and exporters of adhesive tapes machinery.

 

 

Products :

·         Complete Plant for the Manufacture of Self Adhesive Tapes

·         Slitting – Rewinding Machines

·         Automatic Core Loading / Unloading Machine

·         High Speed Log Roll Winding Machines

·         Slicing Machines

·         Paper Core Cutting Machine

·         Salvage Rewinder

·         Plant and Machinery for the Manufacture of Surgical Adhesive Tapes and Plaster of Paris Bandages 

 

 

Exports :

 

                               Product :

Roll Slicing Machines Rewinders

 

 

Countries :
  • Itly
  • Germany
  • Middle East

 

 

Imports :

 

Countries :

China

 

 

Terms :

 

Selling :

Cash and Credit [30-60-90 Days]

 

 

Purchasing :

Cash and Credit [30-60-90 Days]

 

 

GENERAL INFORMATION

 

Customers :

Retailers

 

  • Amartara Limited,  Mumbai
  • Ideal Tape, Ronse, Belgium
  • Kalhans Packaging,  Mumbai
  • Skylark Overseas, Dubai
  • Sumangal Enterprises,  Mumbai
  • Flexcon Industries, Dubai
  • Arrow Convertors, Mumbai
  • Unipack Containers and Cartons, Dubai
  • Solid Plasto Chem Private Limited, Mumbai        
  • Anchor Allied Factory Limited, Dubai
  • Sonal Adhesives Limited,  Mumbai
  • Cotex Industries, Tanzania
  • Sterling Agencies,  Mumbai
  • Creative Exports, Saudi Arabia
  • Tapex Corporatio,  Belgium
  • Jyoti Coaters,  Calcutta
  • Bharat Packaging Industries,  Calcutta
  • Modi Flex (India) Private Limited,  Calcutta               
  • ITW Signods,  Hyderabad
  • Intek Tapes, Bangalore
  • Reflex Auto Products Private Limited,  Bangalore
  • Shri Shubh Industries, Solapur   
  • Royal Tapes Manufacturing Company, Tarapur
  • Taipak Limited, New Delhi         
  • Sunrise Industries, Parwano
  • Reliable Insupack, Noida
  • Morgan Industries Limited, Madras
  • Wonderpack Manufacturing Company, Ahmedabad   
  • Aurangabad Plastics,  Aurangabad                          
  • 3 Dots Industries, Silvassa        
  • Ascon Tapes Private Limited, Erode
  • Multipac Industries, Surat
  • New Pack Plastic Industries, New Delhi
  • R.K.Tube Manufacturing Company, Agarpura
  • Ankit Packaging Limited, Hyderabad
  • Maritom Pack Private Limited, Silvassa
  • Britomatic Tapes and Filters (I) Private Limited, New Delhi
  • Abhishek Packaging Industries, Daman
  • Sanghi Industries Limited, Hyderabad                               

 

 

No. of Employees :

55 (Approximately)

 

 

Bankers :

HDFC Bank

 

 

Facilities :

Cash and Credit

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

N. V. Kelkar and Company

Chartered Accountants

Address :

207/208, R R Reality, Tank Road, LBS Marg, Bhandup (West), Mumbai – 400 078, Maharashtra, India

                                     PAN.:

AAEPK3236G

 

 

Associates/Subsidiaries :

Comac International, Bhandup West

 

 

CAPITAL STRUCTURE

As on 30.09.2010

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1000

Equity Shares

Rs. 100/- each

Rs. 0.100 Million

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

1000

Equity Shares

Rs. 100/- each

Rs. 0.100 Million

 

 

 

 

 

 

 

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

0.100

0.100

0.100

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

5.279

5.453

5.251

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

5.379

5.553

5.351

LOAN FUNDS

 

 

 

1] Secured Loans

0.408

0.515

0.000

2] Unsecured Loans

0.680

0.808

0.692

TOTAL BORROWING

1.088

1.323

0.692

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

6.467

6.876

6.043

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

1.795

0.834

0.938

Capital work-in-progress

0.000

0.000

0.000

 
 

 

 

INVESTMENT

1.834

1.834

1.834

DEFERREX TAX ASSETS

0.021

0.021

0.010

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
2.290

2.638

3.283

 

Sundry Debtors
3.981

2.403

3.609

 

Cash & Bank Balances
1.149

0.926

1.687

 

Other Current Assets
0.000

0.000

0.000

 

Loans & Advances
4.687

4.537

3.925

Total Current Assets
12.107

10.504

12.504

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Current Liabilities
8.880

6.154

9.195

 

Provisions
0.410

0.163

0.048

Total Current Liabilities
9.290

6.317

9.243

Net Current Assets
2.817

4.187

3.261

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

6.467

6.876

6.043

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2010

31.03.2009

31.03.2008

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
1.93
1.38

1.86

 

 
 
 

 

Current Ratio

(Current Asset/Current Liability)

 
1.30
1.66

1.35

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Trade Reference

 

  • Solid Plasto Chem Private Limited
  • Sterling Agencies
  • Al Ghandoura Factory, Jeddah
  • Twiga Stationers and Printers Limited – Kenya
  • Johnson and Johnson  Limited – Mumbai
  • Amaratara Limited - Mumbai

 

 

Web Details

 

Profile

Subject was established in the year 1973 for manufacturing Special Purpose Machinery initially for the fastener industry. Over a period of time the company diversified to the manufacture of a wide range of machinery for the packaging industry.

 

The company has grown from strength to strength over the past 25 years and today it is engaged in the manufacture of Complete Adhesive Coating Plants for a large variety of Self Adhesive Tapes, a wide range of Slitter-Rewinders for Films, Fabrics and many other substrates, Log Roll Winders, Roll Slicing Machines, Paper Core Cutting Machines and Rewinders etc.

 

The success story of the company can be largely attributed to its continous efforts to upgrade technologies and product specifications to international standards. The machines are truely built to very high precision to give long and trouble free peak performance.

 

Because of the highly advanced manufacturing standards, precision, quality and aesthetics the company has been Exporting its machinery from the last five years to a number of countries including Belgium, Germany, Italy, Poland, Canada, Singapore, the Middle East, Kenya and Bangladesh etc. And practically every major adhesive tape manufacturer in the country is using the machinery and is highly satisfied.

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

1]         INFORMATION ON DESIGNATED PARTY

No records exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                              None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                          None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                          None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.38

UK Pound

1

Rs.73.87

Euro

1

Rs.65.83

 

 

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

NO

--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

 

 

-

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.