1. Summary Information         

 

 

Country

India

Company Name

M B ENTERPRISE

Principal Name 1

Mr. Manibhai S Patel

Status

Good

Principal Name 2

Mr. Hasmukhbhai S Patel

 

 

Registration #

--

Street Address

51, M B House, Chandrodaya Society, Stadium Road, Opposite Trident Restaurant, Ahmedabad, Gujarat, India

Established Date

24.10.1993

SIC Code

--

Telephone#

91-79-26405563/ 26405572/ 26461314

Business Style 1

Traders

Fax #

91-79-26400828

Business Style 2

Importer

Homepage

http://www.mbproflex.com

Product Name 1

Steel Coils

# of employees

160 (approximately)

Product Name 2

Pharmaceuticals

Paid up capital

Rs. 150,000,000/-

Product Name 3

--

Shareholders

--

Banking

Bank Of Baroda

Public Limited Corp.

NO

Business Period

18 Years

IPO

NO

International Ins.

-

Public Enterprise

NO

Rating

Ba (54)

Related Company

Relation

Country

Company Name

CEO

Associates

India

Manibhai and Brothers

--

Note

-

 

2. Summary Financial Statement

Balance Sheet as of

31.03.2011

(Unit: Indian Rs.)

Assets

Liabilities

Current Assets

--

Current Liabilities

--

Inventories

--

Long-term Liabilities

--

Fixed Assets

--

Other Liabilities

--

Deferred Assets

--

Total Liabilities

--

Invest& other Assets

--

Retained Earnings

--

 

 

Net Worth

--

Total Assets

--

Total Liab. & Equity

--

 Total Assets

(Previous Year)

--

 

 

P/L Statement as of

31.03.2011

(Unit: Indian Rs.)

Sales

900,000,000

Net Profit

--

Sales(Previous yr)

811,637,000

Net Profit(Prev.yr)

8,977,000

 

MIRA INFORM REPORT

 

 

Report Date :

01.08.2011

 

IDENTIFICATION DETAILS

 

Name :

M B ENTERPRISE

 

 

Registered Office :

51, M B House, Chandrodaya Society, Stadium Road, Opposite Trident Restaurant, Ahmedabad - 380014, Gujarat

 

 

Country :

India

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

24.10.1993

 

 

Paid-Up Capital :

Rs. 150.000 Millions

 

 

IEC No.:

0803013957

 

 

PAN No.:

[Permanent Account No.]

AACFM9317J

 

 

Legal Form :

Partnership concern with an unlimited liability of the partners

 

 

Line of Business :

Traders and Importer of Steel Coils and Pharmaceuticals

 

 

No. of Employees :

160 (approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (54)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

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

Satisfactory

 

Maximum Credit Limit :

USD 350000

 

 

Status :

Good

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well established partnership concern having satisfactory track. Partners are reported to be experienced and respectable businessman. Trade relations are reported as fair. Business is active. Payments are reported to be regular and as per commitments.

 

The concern can be considered good for normal business dealings at usual trade terms and concern. 

 

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

 

Name :

Mr. Kayur

Designation :

Finance Manager

Contact No.:

91-9327547188

Date :

26.07.2011

 

 

LOCATIONS

 

Registered Office :

51, M B House, Chandrodaya Society, Stadium Road, Opposite Trident Restaurant, Ahmedabad - 380014, Gujarat, India

Tel. No.:

91-79-26405563/ 26405572/ 26461314 / 26407001

Mobile no.:

91-9327547188 (Mr. Keyur)

Fax No.:

91-79-26400828

E-Mail :

gmfin@mbproflex.com

info@mbproflex.com

Website :

http://www.mbproflex.com

Location :

Owned

 

 

Branch Office :

Near L. M. Transport Sarkhej, Ahmedabad, Gujarat, India

Area :

Owned

 

 

Branches:

Located at:

 

·         Mumbai

·         Pune

·         Delhi

·         Chennai

·         Hyderabad

·         Bangalore

·         Kolkata

 

 

PARTNERS

 

Name :

Mr. Manibhai S Patel

Designation :

Partner

Address :

7, Friends Colony, Naranpura, Ahmedabad, Gujarat, India

 

 

Name :

Mr. Manubhai S Patel

Designation :

Partner

Address :

7, Friends Colony, Naranpura, Ahmedabad, Gujarat, India

 

 

Name :

Mr. Hasmukhbhai S Patel

Designation :

Partner

Address :

7, Friends Colony, Naranpura, Ahmedabad, Gujarat, India

Qualification :

B. E. Civil and Electrical

 

 

Name :

Mr. Chirag H. Patel

Designation :

Partner

Address :

7, Friends Colony, Naranpura, Ahmedabad, Gujarat, India

Qualification :

B. E. Civil

 

 

Name :

Mr. Girishbhai M. Patel

Designation :

Partner

Address :

Nisarg Farm, Opposite ACE Tennis Club, B/h Karnavati Club, Ahmedabad, Gujarat, India

Qualification :

Diploma in Hydraulic Engineering

 

 

Name :

Mr. Malav Girishbhai Patel

Designation :

Partner

Address :

Nisarg Farm, Opposite ACE Tennis Club, B/h Karnavati Club, Ahmedabad, Gujarat, India

Qualification :

B.B.A.

 

 

Name :

Mr. Vipin kantilal Patel

Designation :

Partner

Address :

2, Nandanvan, Near Shyamvihar, Opp. Devvihar, Thaltej-shilaj Road, Ahmedabad, Gujarat, India

Qualification :

B. Com. Inter CA

 

 

Name :

Ms. Umaben G. Patel

Designation :

Partner

Address :

Nisarg Farm, Opposite ACE Tennis Club, B/h Karnavati Club, Ahmedabad, Gujarat, India

Qualification :

B. Sc

 

 

Name :

Ms. Leenaben V. Patel

Designation :

Partner

Address :

2, Nandanvan, Near Shyamvihar, Opp. Devvihar, Thaltej-shilaj Road, Ahmedabad, Gujarat, India

Qualification :

B Sc

 

 

Name :

Ms. Birva C. Patel

Designation :

Partner

Address :

7, Friends Colony, Naranpura, Ahmedabad, Gujarat, India

Qualification :

B. Com. CS

 

 

Name :

Ms. Aparna M Patel

Designation :

Partner

 

 

KEY EXECUTIVES

 

Name :

Mr. Kayur

Designation :

Finance Manager

 

 

BUSINESS DETAILS

 

Line of Business :

Traders and Importer of Steel Coils and Pharmaceuticals

 

 

Imports :

 

Products :
  • H. R. Plates
  • Steel Coils
  • Sheetings Insulation Markets 

Countries :
  • Thailand
  • Korea

 

 

Terms :

 

Selling :

Cash and Credit [60/90 days]

 

 

Purchasing :

L/C, Cash and Credit [60/90 days]

 

 

GENERAL INFORMATION

 

Customers :
  • Wholesalers 

 

 

No. of Employees :

160 (approximately)

 

 

Bankers :
  • Bank of Baroda, Bhadra Branch, Ahmedabad, Gujarat, India

 

Facilities :

--

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Talati and Talati

Chartered Accountants

Address :

Income Tax, Ahmedabad, Gujarat, India

 

 

Associates/Subsidiaries :

Name :

M and B Engineering Private Limited

Address :

51, M B House, Chandrodaya Society, Stadium Road, Opposite Trident Restaurant, Ahmedabad, Gujarat

Line of Business :

Supply and Erection of Prfolex Steel Rooting

Manufacturing, Supply and erection of Pre Engineered Building

Banker :

  • Bank of Baroda
  • Standard Chartered Bank
  • Axis Bank

Facilities :

Term Loan – Rs. 479.000 Millions

CC Rs. 215.000 Millions 

LC and BG Rs. 520.000 Millions

Auditors :

Talati and Talati, Chartered Accountants

 

 

Name :

Phenix Building Solutions Private Limited

Address :

51, M B House, Chandrodaya Society, Stadium Road, Opposite Trident Restaurant, Ahmedabad, Gujarat

Line of Business :

Supply and erection of Pre Engineered Building

Banker :

Bank of Baroda, Bhadra Branch , Ahmedabad 

Facilities :

Nil

Auditors :

Talati and Talati, Chartered Accountants

 

 

Name :

Manibhai and Brothers

Address :

51, M B House, Chandrodaya Society, Stadium Road, Opposite Trident Restaurant, Ahmedabad, Gujarat

Line of Business :

Construction

Banker :

Bank of Baroda, Bhadra Branch , Ahmedabad 

Facilities :

CC Rs. 20.000 Millions

Auditors :

Talati and Talati, Chartered Accountants

 

 

Name :

Manibhai and Brothers [Sleepers]

Address :

51, M B House, Chandrodaya Society, Stadium Road, Opposite Trident Restaurant, Ahmedabad, Gujarat

Line of Business :

Manufacturing of Railway Sleepers

Banker :

Bank of Baroda, Bhadra Branch , Ahmedabad 

Facilities :

CC Rs. 25.000 Millions

Auditors :

Talati and Talati, Chartered Accountants

 

 

Name :

Usha Prestressed Sleeper Udyog

Address :

51, M B House, Chandrodaya Society, Stadium Road, Opposite Trident Restaurant, Ahmedabad, Gujarat

Line of Business :

Manufacturing of Railway Sleepers

Banker :

Bank of Baroda, Bhadra Branch , Ahmedabad 

Facilities :

CC Rs. 25.000 Millions

Auditors :

Talati and Talati, Chartered Accountants

 

 

Name :

Manibhai and Brothers Finance Corporation

Address :

51, M B House, Chandrodaya Society, Stadium Road, Opposite Trident Restaurant, Ahmedabad, Gujarat

Line of Business :

Group Financing

Banker :

Bank of Baroda, Bhadra Branch , Ahmedabad 

Facilities :

LC Rs. 210.000 Millions

Auditors :

Talati and Talati, Chartered Accountants

 

 

Name :

Manibhai and Brothers Construction Private Limited

Address:

“ MB House” Stadium Road, Ahmedabad - 380014, Gujarat, INDIA

Tel No.:

91-79-26405563, 26405572, 26461314

Fax No.:

91-79-26400828, 26568433

E-mail :

Info@mbproflex.com

 

 

CAPITAL STRUCTURE

 

As On 31.03.2011

 

Capital Investment :

 

Owned :

Rs. 150.000 Millions

Borrowed :

--

Total :

Rs. 150.000 Millions

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

 

 

31.03.2011

Sales Turnover (approximately)

 

 

900.000

 

 

 

 

 

The above information has been parted by Mr. Kayur (Finance Manager)

 

Note : Sole Proprietory and Partnership concerns are exempted from filing their financials with the Government Authorities or Registry Records.

 

 

 

 

 

 

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2010

31.03.2009

31.03.2008

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

51.957

40.286

32.531

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

51.957

40.286

32.531

LOAN FUNDS

 

 

 

1] Secured Loans

0.000

0.000

0.000

2] Unsecured Loans

36.214

13.167

164.601

TOTAL BORROWING

36.214

13.167

164.601

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

88.171

53.453

197.132

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

0.594

0.865

0.862

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.000

3.239

5.000

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories

252.743

33.362

99.974

 

Sundry Debtors

28.408

6.118

52.932

 

Cash & Bank Balances

68.213

67.680

24.906

 

Other Current Assets

36.658

41.694

8.426

 

Loans & Advances

2.542

0.509

52.762

Total Current Assets

388.564

149.363

239.000

Less : CURRENT LIABILITIES & PROVISIONS

 

 

 

 

Sundry Creditors

292.074

95.317

 

 

Other Current Liabilities

0.000

0.000

41.539

 

Provisions

8.913

4.697

6.191

Total Current Liabilities

300.987

100.014

47.730

Net Current Assets

87.577

49.349

191.270

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

88.171

53.453

197.132

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2010

31.03.2009

31.03.2008

 

SALES

 

 

 

 

 

Sales

811.637

791.436

320.968

 

 

Commission Income

11.452

9.757

0.000

 

 

Other Income

4.641

4.501

1.920

 

 

TOTAL                                     (A)

827.730

805.694

322.888

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Cost of Goods Sold

778.468

760.529

291.155

 

 

Manufacturing Expenses

0.203

0.070

0.000

 

 

Administrative Expenses

0.000

0.000

5.671

 

 

Salary, Wages, Bonus and Gratuity

1.755

1.760

0.000

 

 

Staff Welfare

0.110

0.072

0.000

 

 

Rent

2.984

2.122

0.000

 

 

Other Expenses

3.808

11.953

0.000

 

 

TOTAL                                     (B)

787.328

776.506

296.826

 

 

 

 

 

Less

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

40.402

29.188

26.062

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

27.080

17.520

13.888

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                       (E)

13.322

11.668

12.174

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                     (F)

0.106

0.150

0.159

 

 

 

 

 

 

PROFIT BEFORE TAX (E-F)                               (G)

13.216

11.518

12.015

 

 

 

 

 

Less

TAX                                                                  (H)

4.239

4.234

3.766

 

 

 

 

 

 

PROFIT AFTER TAX (G-H)                                (I)

8.977

7.284

8.229

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2010

31.03.2009

31.03.2008

PAT / Total Income

(%)

1.08

0.90

2.55

 

 

 

 

 

Net Profit Margin

(PBT/Sales)

(%)

1.63

1.46

3.74

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

3.40

7.66

5.01

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.25

0.29

0.37

 

 

 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 

6.49

2.81

6.53

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.29

1.49

5.01

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Trade References:

  • Intas Pharmaceutical Limited

 

 

 

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.44.16

UK Pound

1

Rs.72.10

Euro

1

Rs.63.10

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

7

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

6

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

6

--RESERVES

1~10

6

--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

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

54

 

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.