MIRA
INFORM REPORT
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Report Date : |
18.08.2011 |
IDENTIFICATION DETAILS
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Name : |
MAKHARIA MACHINERIES PRIVATE LIMITED |
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Registered
Office : |
101, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
01.05.1995 |
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Com. Reg. No.: |
11-87908 |
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Capital
Investment / Paid-up Capital : |
Rs.0.207 million |
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CIN No.: [Company Identification
No.] |
U31300MH1995PTC087908 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM09907C/ MUMM22915E |
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PAN No.: [Permanent Account No.] |
AAACM2855Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Engineering Goods. |
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No. of Employees
: |
35 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (50) |
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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 220000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade relations are reported as fair. Business is active. Payments are reported to be regular 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.
INFORMATION PARTED BY
|
Name : |
Mr. A.R. Shrivastava |
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Designation : |
Accounts Manager |
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Contact No.: |
91-22-22663045 |
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Date : |
17.08.2011 |
LOCATIONS
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Registered Office : |
101, |
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Tel. No.: |
91-22-22663045/ 22346291 |
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Fax No.: |
91-22-22666111 |
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E-Mail : |
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Website: |
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Area : |
1500 sq ft |
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Location : |
Rented |
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Head Office : |
310/311, |
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Tel. No.: |
91-22-30428000 upto 8007 / 24915030/ 4/ 66023000 |
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Fax No.: |
91-22-30428008/ 66023001 |
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E-Mail : |
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Area: |
3000 sq ft |
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Location : |
Owned |
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Branch Office : |
M 2, |
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Tel. No.: |
91-260-2436999 |
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Fax No.: |
91-260-2436999 |
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Location : |
Owned |
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Branch Office : |
Also
Located at: ·
Pune ·
·
·
·
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DIRECTORS
As on 28.09.2010
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Name : |
Mr. Shyamsunder M Makharia |
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Designation : |
Managing Director
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Address : |
1602-B, |
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Date of Birth/Age : |
13.11.1949 |
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Date of Appointment : |
01.05.1995 |
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DIN No.: |
00926170 |
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Name : |
Mr. Rajrani Shyamsunder Makharia |
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Designation : |
Director |
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Address : |
1602-B, |
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Date of Birth/Age : |
18.06.1952 |
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Date of Appointment : |
01.05.1995 |
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DIN No.: |
01142890 |
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Name : |
Mr. Ashish Shyamsunder Makharia |
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Designation : |
Director |
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Address : |
1602-B, |
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Date of Birth/Age : |
04.11.1973 |
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Date of Appointment : |
01.05.1995 |
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DIN No.: |
01111778 |
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E-mail : |
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Name : |
Mr. Rishi Shyamsunder Makharia |
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Designation : |
Director |
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Address : |
1602-B, |
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Date of Birth/Age : |
31.10.1976 |
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Date of Appointment : |
01.05.1995 |
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DIN No.: |
01111786 |
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E-mail : |
KEY EXECUTIVES
|
Name : |
Mr. A.R. Shrivastava |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2010
|
Names of Shareholders |
No. of Shares |
|
Shyamsunder M Mukherjee |
5100 |
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Rajrani S Makharia |
5000 |
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Ashish |
5000 |
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Rishi S Makharia |
5000 |
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Shivani A Dani |
100 |
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Vanita A Makharia |
100 |
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Vidushi R Makharia |
100 |
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Syamsunder Makharia HUF |
100 |
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Ashish Makharia HUF |
100 |
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Rishi Makharia HUF |
100 |
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Total |
20700 |
Equity Share Breakup
(Percentage of Total Equity)
AS ON (30.09.2010)
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Category |
Percentage of holding |
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Directors or
relatives of directors |
100.00 |
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BUSINESS DETAILS
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Line of Business : |
Trader of Engineering Goods. |
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Products : |
·
Electrical Motors ·
Switchgears ·
Pump Sets ·
Allied Products |
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Agencies Held : |
·
Siemens India Limited ·
Bharat Bijlee Limited ·
Hundai HT Motors ·
Kirloskar Brothers Limited ·
Crompton Graves Limited ·
Elecon Worm Gear |
GENERAL INFORMATION
|
Suppliers : |
v
Asea Brown Boveri Limited v Alstom Limited v Crompton Creaves Limited v Nelco Limited v Siemens Limited v KPBGL v Mather and Platt v Elecon v EPCOS v AKI v GEC Alstom India Limited v Kilburn Starters Limited |
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Customers : |
·
End Users ·
OEM’s ·
Chemical Industry ·
Steel Industry ·
Textile Industry and Pharmaceutical Industry v
Batliboi Environmental Engineering Limited v Apcotex Lattices Limited v Haldyn Glass Gujarat Limited v Jay Agrochem Limited v
Sterlite Industries. ( v
Aurangabad Poly Container Private Limited v
Akar Tools Limited v
Aqua Alloys Private Limited v
Bhayalaxmi Stone Quarry v
DVC Process Technologies Private Limited v
Dyna Glycols Private Limited v
Gadekar Bestall Industrial Projects v
Garuda Cranes Private Limited v
Heg Limited(Sponge Iron Division) v
Hikal Limited (Ankleshwar) v
Ispat Industries Limited (Dolvi) v
Ion Exchange ( v
Jai Mahalaxmi Ispat (I) Private Limited v
Kiri Oskar Pneumatic company Limited v
Kundil Ispat Limited v
Kesarnand Ginning and Pressing Factory v
Laxmi Board and Paper Mills Limited v
Makharia Machinery Mart v
Mac well Enterprises v
Maddi Lakshmaiah and company limited |
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No. of Employees : |
35 (Approximately) |
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Bankers : |
v
HDFC Bank Limited v The National Co-operative Bank Limited Nariman
Point Branch, Mumbai - 400 021, v
Punjab National Bank, |
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Facilities: |
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Banking Relations
: |
-- |
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Auditors : |
N.H. Gajaria and Company Chartered Accountants |
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Address : |
20-A, |
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PAN No : |
AAZPG4776E |
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Tel No : |
91-22-22664871/ 22663269 |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
20700 |
Equity Shares |
Rs.10/- each |
Rs.0.207 million |
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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 |
0.207 |
0.207 |
0.207 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
54.623 |
38.412 |
19.595 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
54.830 |
38.619 |
19.802 |
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LOAN FUNDS |
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1] Secured Loans |
27.507 |
39.370 |
7.021 |
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2] Unsecured Loans |
13.204 |
12.840 |
7.600 |
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TOTAL BORROWING |
40.711 |
52.210 |
14.621 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
95.541 |
90.829 |
34.423 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
11.951 |
3.503 |
4.148 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.001 |
0.001 |
0.001 |
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DEFERREX TAX ASSETS |
0.116 |
0.212 |
0.141 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
22.154
|
24.990
|
20.585
|
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Sundry Debtors |
165.938
|
157.954
|
127.334
|
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Cash & Bank Balances |
3.581
|
0.982
|
1.113
|
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Other Current Assets |
41.266
|
20.288
|
13.619
|
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Loans & Advances |
5.808
|
7.324
|
3.589
|
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Total
Current Assets |
238.747
|
211.538
|
166.240
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
114.438
|
97.117
|
118.771
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Other Current Liabilities |
15.494
|
7.749
|
5.989
|
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Provisions |
25.342
|
19.559
|
11.347
|
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Total
Current Liabilities |
155.274
|
124.425
|
136.107
|
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Net Current Assets |
83.473
|
87.113
|
30.133
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
95.541 |
90.829 |
34.423 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
680.185 |
666.448 |
608.666 |
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Other Income |
NA |
NA |
NA |
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TOTAL |
NA |
NA |
NA |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
|
NA |
NA |
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Advertising Expenses |
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TOTAL |
NA |
NA |
NA |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
26.002 |
30.470 |
17.405 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
1.391 |
0.929 |
0.792 |
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PROFIT BEFORE
TAX |
24.611 |
29.541 |
16.613 |
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Less |
TAX |
8.400 |
10.725 |
6.174 |
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PROFIT AFTER TAX
|
16.211 |
18.816 |
10.439 |
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Earnings Per
Share (Rs.) |
783.15 |
908.98 |
-- |
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Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
780.000 |
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Expected Sales ( 2011-2012 ) : Rs. 1000.000 millions
The above information has been parted by Mr. A.R. Shrivastava.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Net Profit Margin (PBT/Sales) |
(%) |
3.62
|
4.43
|
2.73.
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Return on Total Assets (PBT/Total Assets} |
(%) |
9.82
|
13.74
|
9.75
|
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Return on Investment (ROI) (PBT/Networth) |
|
0.45
|
0.76
|
0.84
|
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Debt Equity Ratio (Total Liability/Networth) |
|
3.57
|
4.57
|
7.61
|
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Current Ratio (Current Asset/Current Liability) |
|
1.54
|
1.70
|
1.22
|
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS:
|
Particulars |
31.03.2010 (Rs. In Millions) |
31.03.2009 (Rs. In Millions) |
31.03.2008 (Rs. In Millions) |
|
Sundry Creditors |
|
|
|
|
For Goods H.O. |
113.618 |
0.000 |
0.000 |
|
For Goods B.O |
0.820 |
97.117 |
118.771 |
|
Total |
114.438 |
97.117 |
118.771 |
FINANCE RESULTS:
The company has made a profit of Rs. 16.211 Millions for the year under consideration. This profit has been arrived at after providing for depreciation of Rs. 1.391 Millions and provision for Taxation at Rs. 8.400 Millions.
The Directors have pleasure in announcing that the turnover of the company has increased to Rs. 680.185 Millions as against the turnover of Rs. 666.448 Millions in the immediate preceding year.
FROM : 8
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U31300MH1995PTC087908 |
|
Name of the
company |
Makharia
Machineries Private Limited |
|
Address of the
registered office or of the principal place of business in |
101, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
90357724 |
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Type of charge |
|
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Particular of
charge holder |
Punjab National Bank, |
|
Nature of
instrument creating charge |
Hypothecation of
goods and book debts to secure cash credit facility fro Rs. 3.500 Millions
(Ad HOC Limit) Letter of Deposit
of title deeds to secure bank for Rs. 38.500 Millions (Existing charge of Rs.
35.000 Millions plus this Adhoc limit of R. 3.500 Millions) |
|
Date of
instrument Creating the charge |
22.11.2010 |
|
Amount secured by
the charge |
Rs. 38.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest BPLR + 50% p.a.
with monthly rests and other penal interest as per the agreement. Terms of
Repayment Working Capital
Credit facility is subjected to renewal at every year. Margin Stocks – 25% Book Debts- 40% Extent and
Operation of the charge Rs. 38.500
Millions and operation of charge on entire current assets including book debts
and stocks kept at Bhiwandi and kept at all other places belonging to the
company and immovable properties at fat no. 1402, Chaitanya Tower B Wing,
Appasanheb Marathe Marg, Prabhadevi, Mumbai |
|
Short particulars
of the property charged |
Entire current
assets including book debts and stocks kept at Bhiwandi and kept at all other
places belonging to the company. Immovable
properties at flat No. 1402, Chaitanya Tower B Wing, Appasaheb Marathe Marg,
Prabhadevi, Mumbai |
|
Particulars of
the present modification |
By this
submission, the company has created and extended the charge on entire current
assets including book debts and stocks kept at Bhiwandi and kept at all other
places belonging to the company and also on immovable properties at flat no.
1402, Chiatanya Tower B Wing. Appasaheb Marathe Marg, Prabhadevi, Mumbai to
secure bank for sanction of limits of Rs. 38.500 Millions to company (which
includes this adhoc limit of Rs. 3.500 Millions. |
TRADE REFERENCES
- Reliance Group
FIXED ASSETS
- Office Equipment
- Furniture and Fixtures
- Air Conditioners
- Computers
- Electrical Fittings
- Motor Car
- Plant and Machinery
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. 45.36 |
|
|
1 |
Rs. 74.55 |
|
Euro |
1 |
Rs. 65.33 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
50 |
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.