MIRA
INFORM REPORT
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Report Date : |
05.08.2011 |
IDENTIFICATION DETAILS
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Name : |
MICRON INDUSTRIES PRIVATE LIMITED (w.e.f 27.02.2009) |
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Formerly Known
As : |
TREPKO MICRON INDUSTRIES PRIVATE LIMITED |
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Registered Office
: |
Plot R-710, TTC Industrial Area, MIDC, Rabale, Navi Mumbai – 400701, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
21.04.2004 |
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Com. Reg. No.: |
11-145817 |
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Paid-up Capital
: |
Rs. 12.760 Millions |
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CIN No.: [Company Identification
No.] |
U29251MH2004PTC145817 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT12138A |
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PAN No.: [Permanent Account No.] |
AACCT0469M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer,
Trader of Pumps Pumping Equipment and Kitchenware Cookware. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B (28) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 55000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are reported as fair.
Business is active. Payments are reported to be slow. The company can be considered for business dealings with some
cautions. |
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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 |
LOCATIONS
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Registered Office/Factory : |
Plot R-710, TTC Industrial Area, MIDC, Rabale, Navi Mumbai – 400701, |
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Tel. No.: |
91-22-67164242 (10 Lines) |
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Fax No.: |
91-22-67164343 |
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E-Mail : |
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Website : |
DIRECTORS
As On 30.09.2010
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Name : |
Mr. Poulose Mathew |
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Designation : |
Director |
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Address : |
Theattikottumolathu House, Keezhillam Po, Perumbavoor – 683541, |
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Date of Birth/Age : |
09.06.1940 |
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Date of Appointment : |
25.03.2010 |
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DIN No.: |
03035791 |
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Name : |
Mr. Mahesh Raghunath Padhye |
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Designation : |
Director |
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Address : |
E-93, Alankar Co-operative Society, |
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Date of Birth/Age : |
26.02.1970 |
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Date of Appointment : |
21.04.2004 |
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DIN No.: |
01071867 |
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Name : |
Mr. Mahendra Sitaram Kakade |
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Designation : |
Director |
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Address : |
B-202 |
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Date of Birth/Age : |
03.12.1974 |
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Date of Appointment : |
21.04.2004 |
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DIN No.: |
01071883 |
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Name : |
Mr. Shyju Sidharthan Kalathupurath |
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Designation : |
Director |
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Address : |
D 609 Usha Nagar, |
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Date of Birth/Age : |
22.06.1974 |
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Date of Appointment : |
21.04.2004 |
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DIN No.: |
02156119 |
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Name : |
Mr. Sopan Dhondiba Gaikwad |
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Designation : |
Director |
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Address : |
C- 42, |
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Date of Birth/Age : |
01.12.1963 |
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Date of Appointment : |
01.10.2004 |
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DIN No.: |
01714099 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Kalathupurath Sidharthan Shyju |
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319000 |
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Padhye R Mahes |
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319000 |
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Kakade S. Mahendra |
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319000 |
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Gaikwad D. Sopan |
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319000 |
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Total |
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1276000 |
As On 30.09.2010
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer,
Trader of Pumps Pumping Equipment and Kitchenware Cookware. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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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 : |
Shankarlal Jain and Associates Chartered Accountant |
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Address : |
12, |
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Pan No.: |
AACFS6967Q |
CAPITAL STRUCTURE
As On 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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1500000 |
Equity Shares |
Rs. 10/- each |
Rs. 15.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1276000 |
Equity Shares |
Rs. 10/- each |
Rs. 12.760
Millions |
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Note:
Of the above 765600 shares have been issued
for consideration otherwise than in cash)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
12.760 |
5.104 |
5.104 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1.136 |
8.656 |
8.401 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
13.896 |
13.760 |
13.505 |
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LOAN FUNDS |
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1] Secured Loans |
26.122 |
15.904 |
14.439 |
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2] Unsecured Loans |
12.121 |
20.142 |
18.000 |
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TOTAL BORROWING |
38.243 |
36.046 |
32.439 |
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DEFERRED TAX LIABILITIES |
2.979 |
2.662 |
2.359 |
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TOTAL |
55.118 |
52.468 |
48.303 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
36.982 |
38.365 |
39.685 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.100 |
0.100 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
30.511
|
21.627 |
18.803 |
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Sundry Debtors |
8.870
|
7.915 |
5.005 |
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Cash & Bank Balances |
1.139
|
1.208 |
1.019 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
1.333
|
0.834 |
1.049 |
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Total
Current Assets |
41.853
|
31.584 |
25.876 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
14.141
|
12.806 |
11.696 |
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Other Current Liabilities |
9.741
|
4.825 |
5.597 |
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Provisions |
0.000
|
0.000 |
0.000 |
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Total
Current Liabilities |
23.882
|
17.631 |
17.293 |
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Net Current Assets |
17.971
|
13.953 |
8.583 |
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MISCELLANEOUS EXPENSES |
0.065 |
0.050 |
0.035 |
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TOTAL |
55.118 |
52.468 |
48.303 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
|
36.017 |
40.402 |
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Other Income |
|
0.599 |
0.951 |
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TOTAL (A) |
37.302 |
36.616 |
41.353 |
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Less |
EXPENSES |
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Raw material consumed |
|
16.554 |
24.038 |
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Manufacturing expenses |
|
5.146 |
1.607 |
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Employees remuneration and benefits |
|
2.227 |
4.661 |
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Administrative and other expenses |
|
7.634 |
5.174 |
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Preliminary expenses w/ff |
|
0.048 |
0.035 |
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Increase / Decrease in Stock |
|
(1.047) |
(1.554) |
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TOTAL (B) |
36.769
(Including Financial Expenses and Deprecations) |
30.562 |
33.961 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
6.054 |
7.392 |
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Less |
FINANCIAL
EXPENSES (D) |
|
3.263 |
2.079 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
2.791 |
5.313 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
2.103 |
1.965 |
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PROFIT BEFORE
TAX (E-F) (G) |
0.533 |
0.688 |
3.348 |
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Less |
TAX (I) |
0.397 |
0.433 |
1.095 |
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PROFIT AFTER TAX
(G-I) (J) |
0.136 |
0.255 |
2.253 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
2.881 |
0.628 |
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BALANCE CARRIED
TO THE B/S |
NA |
3.136 |
2.811 |
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Earnings Per
Share (Rs.) |
0.11 |
1.35 |
NA |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
0.36
|
0.70 |
5.45 |
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Net Profit Margin (PBT/Sales) |
(%) |
NA
|
1.91 |
8.29 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.68
|
0.98 |
5.11 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.05 |
0.25 |
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Debt Equity Ratio (Total Liability/Networth) |
|
4.47
|
3.90 |
3.68 |
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Current Ratio (Current Asset/Current Liability) |
|
1.75
|
1.79 |
1.50 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The Registered Office of the company has been shifted from 1063 Bhandup
Industrial Estate Pannalal Compound L B S Marg, Bhandup (W), Mumbai – 400078,
Form 8:
|
This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U29251MH2004PTC145817 |
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Name of the
company |
TREPKO MICRON
INDUSTRIES PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
1063 Bhandup
Industrial Estatpannalal Compound L B S Marg, Bhandup (W), Mumbai - 400078, |
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Type of charge |
Book Debts Movable Property Immovable
Property Floating Charge |
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Particular of charge
holder |
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Nature of
description of the instrument creating or modifying the charge |
Composite Deed of
Mortgage and Hypothecation |
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Date of
instrument Creating the charge |
07.10.2008 |
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Amount secured by
the charge |
Rs. 35.600
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
- Cash Credit: 14% p.a. or at such rate as maybe fixed by bank from time to
time Term Loan I: 14%
p.a. or at such rate as maybe fixed by bank from time to time Term Loan II: 14%
p.a. or at such rate as maybe fixed by bank from time to time Terms of
Repayment - Cash Credit: On demand subject to review within 12 months Term Loan I: 60
months Term Loan II: 48
months Margin - Cash
Credit: 25% in bank's favour Term Loan I:25%
in bank's favour Term Loan II:25%
in bank's favour Extent and
Operation of the charge - Cash Credit: Rs 10.000 millions Term Loan I : Rs
18.000 millions Term Loan II:
7.600 millions |
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Short particulars
of the property charged |
Mortgage of all
that piece and parcel of the leasehold rights of the piece & parcel of
the land situate within the reg dist
and sub dist tah Thane & situated within the local limits of
village Tetavali & within the limits of Navi Mumbai municipal cor bearing
its plot no R710 in Trans Thane Creek Ind Area Rabale Navi Mumbai more
particularly described in schedule I attached herewith. Hypothecation of
stock, bookdebts, plant and machinery more particularly |
Fixed Assets:
- Land at
Mahape
- Building
- Plant and
machinery
- Electrical
installation
- Computer
- Office
equipment
- Furniture
- Vehicle
- Good will
- Pattern
- Technical
know-how
AS PER WEBSITE
DETAILS
PROFILE:
Starting over a decade ago and against considerable odds, “Subject” a firm formerly known as “Micron Engineering Group” has gained immense reputation for its quality products specifically manufactured for the dairy industry.
A solid foundation has been laid by its four directors of the company. The
equal strength of all the directors acts as supporting pillars which has helped
Micron to grow to newer heights.
The office and factory is strategically located at Rabale, MIDC. Having spread
in a 2000 Sq. mtr. Area, the factory is well equipped with CNC machines to
offer the customers a quality product. The company manufactures 90 % of the
parts required for the machines in house so as to maintain the delivery as well
as quality of the product.
A huge percentage of the company's sales come from its products uniquely
designed for the dairy industry.
The company has reached where they are today mainly due to the close team-work
of their employees and due to their shared value system which emphasizes
commitment to excellence, closeness to customers, and the spirit of innovation.
They do look forward to serve the Dairy and Food Industry with an innovative
range of products in coming future.
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.44.42 |
|
|
1 |
Rs.72.70 |
|
Euro |
1 |
Rs.63.55 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
|
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
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|
--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 |
|
28 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.