MIRA
INFORM REPORT
|
Report Date : |
22.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered
Office : |
R-899 TTC MIDC Area, |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
26.05.2005 |
|
|
|
|
Com. Reg. No.: |
11-153518 |
|
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|
|
Capital
Investment / Paid-up Capital : |
Rs.0.500 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27200MH2005PTC153518 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP22990C |
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|
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|
PAN No.: [Permanent Account No.] |
AADCP5925B |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Suppliers of Machinery Tools and Parts |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 24000 |
|
|
|
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Usually Correct |
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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 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
R-899 TTC MIDC Area, |
|
Tel. No.: |
91-22-27696274 / 27696275 |
|
Fax No.: |
91-22-27696275 |
|
E-Mail : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Mathews Kuriyan Kurupanttu |
|
Designation : |
Director |
|
Address : |
Plot No. 8, Flat No. 104, Sector 10, Airoli, Navi Mumbai – 400 708
Maharashtra, |
|
Date of Birth/Age : |
14.12.1965 |
|
Date of Appointment : |
26.05.2005 |
|
DIN No. : |
01748403 |
|
|
|
|
Name : |
Mrs. Shiny Mathew Kurupanat |
|
Designation : |
Director |
|
Address : |
B-104, Pratik Co-operative Housing Society Limited, Plot No. 8, Sector
10, Airoli, Navi Mumbai – 400 708, |
|
Date of Birth/Age : |
12.05.1974 |
|
Date of Appointment : |
26.05.2005 |
|
DIN No. : |
02766598 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Mathews Kuriyan Kurupanttu |
|
45000 |
|
Shiny Mathew Kurupanat |
|
5000 |
|
Total |
|
50000 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Suppliers of Machinery Tools and Parts |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
Small Industries Development Bank of Samruddhi Venture Park, Upper Ground
Floor, MIDC Road, MIDC Industrial Area, Marol, Andheri (E), Mumbai – 400 093,
Maharashtra, India ·
Citizencredit Co-Op. Bank Limited, Mulund Branch Saidham Complex CHS, 26-27-28, P K Road
Extension, Mulund (West), Mumbai – 400 080, |
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Facilities : |
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Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
Raghu and Associates Chartered Accountant |
|
Address : |
Narendra Bhavan, |
|
Tel. No.: |
91-22-25777137 / 25791998 |
|
E-Mail : |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500
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 |
0.500 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
5.594 |
2.965 |
2.003 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
6.094 |
3.065 |
2.103 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
19.525 |
13.198 |
15.109 |
|
|
2] Unsecured Loans |
0.000 |
2.171 |
1.851 |
|
|
TOTAL BORROWING |
19.525 |
15.369 |
16.960 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
25.619 |
18.434 |
19.063 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
25.900 |
21.177 |
16.637 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.572 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
5.185
|
4.563 |
0.821 |
|
|
Sundry Debtors |
7.210
|
5.314 |
6.930 |
|
|
Cash & Bank Balances |
0.906
|
1.852 |
0.034 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.723
|
2.124 |
0.975 |
|
Total
Current Assets |
14.024
|
13.853 |
8.760 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
11.486
|
14.488 |
5.820 |
|
|
Other Current Liabilities |
0.645
|
0.309 |
0.000 |
|
|
Provisions |
2.184
|
1.814 |
1.107 |
|
Total
Current Liabilities |
14.315
|
16.611 |
6.927 |
|
|
Net Current Assets |
(0.291)
|
(2.758) |
1.833 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.010 |
0.015 |
0.021 |
|
|
|
|
|
|
|
|
TOTAL |
25.619 |
18.434 |
19.063 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
27.663 |
26.860 |
22.787 |
|
|
|
Other Income |
0.173 |
0.554 |
0.152 |
|
|
|
TOTAL (A) |
27.836 |
27.414 |
22.939 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
15.609 |
15.820 |
13.586 |
|
|
|
Personnel Expenses |
3.298 |
2.912 |
2.132 |
|
|
|
Administration and Direct Expenses |
2.607 |
3.076 |
2.026 |
|
|
|
TOTAL (B) |
21.514 |
21.808 |
17.744 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
6.322 |
5.606 |
5.195 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.875 |
1.762 |
1.665 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
4.447 |
3.844 |
3.530 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.241 |
2.359 |
2.047 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1.206 |
1.485 |
1.483 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.577 |
0.523 |
0.524 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.629 |
0.962 |
0.959 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2.965 |
2.003 |
1.044 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
3.594 |
2.965 |
2.003 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
4.937 |
0.200 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
12.58 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.26
|
3.51 |
4.18 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.36
|
5.53 |
6.51 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.02
|
4.24 |
5.84 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.48 |
0.71 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.55
|
10.43 |
11.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.98
|
0.83 |
1.26 |
LOCAL AGENCY FURTHER INFORMATION
OPERATION
During the year the turnover of the company to Rs.27.836 millions
compared to Rs.27.414 millions during previous year. The net profit of the
company is Rs.0.601 million compared to Previous Year Rs.0.962 million.
FORM 8
|
Corporate identity number of the company |
U27200MH2005PTC153518 |
|
Name of the company |
PET TOOLS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in |
R-899 TTC MIDC Area, |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10182534 |
|
Type of charge |
Movable property (not being pledge) |
|
Particular of charge holder |
Small Industries Development Bank of Samruddhi Venture Park, Upper Ground Floor, MIDC Road, MIDC Industrial
Area, Marol, Andheri (E), Mumbai – 400 093, Maharashtra, India |
|
Nature of instrument creating charge |
Agreement for Term Loan Limit - Cum – Hypothecation |
|
Date of instrument Creating the charge |
10.02.2011 |
|
Amount secured by the charge |
Rs.2.650 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest 11.25% p.a. Terms of Repayment Principal amount shall be paid in 48 monthly installments comprising
of first 47 installments of 0.055 million and final 48th installment of
Rs.0.065 million to be paid after 06 months from the date of first
disbursement. Margin As Per the Sanctioned terms of the Bank. Extent and Operation of the charge Extension of charge over existing movable assets earlier charged to
SIDBI and movable assets if any proposed to be acquired out of the assistance
of Rs.2.650 millions under PCS. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
The whole of the movable properties of the Borrower earlier charged to
SIDBI and those to be acquired under the assistance, including its movables,
plant, machinery, machinery spares, tools, etc |
|
Particulars of the present modification |
Extension of first charge on all movables earlier charged to SIDBI and
on movables acquired / to be acquired out of TL of Rs.2.650 millions
sanctioned under PCS. The first charge on these assets has been created for an aggregate amount of
Rs.10.650 millions. |
FIXED ASSETS
·
Air Compressor
·
Air Condition
·
Building
·
Computer
·
Furniture and Fixtures
·
Generator
·
·
·
Plant and Machinery
·
·
Motor Car
·
Electrical Fitting
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.45.61 |
|
|
1 |
Rs.75.32 |
|
Euro |
1 |
Rs.65.68 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
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 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
43 |
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.