MIRA
INFORM REPORT
|
Report Date : |
19.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
GAMZEN PLAST PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B-19, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
14.10.1971 |
|
|
|
|
Com. Reg. No.: |
11-015376 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.651 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209MH1971PTC015376 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMG06208G |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturing of Heavy Construction Machinery and plant Concrete
Mixer, Batching Plant, Mechanical Grab and Piling Winches, Drilling Ring
Accessories, Transit etc. |
|
|
|
|
No. of Employees
: |
90 (In Office – 25 and In Factory – 65) (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 200000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having satisfactory track. The
company is doing well. Trade relations are reported as fair. Business is
active. Payments 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 |
INFORMATION PARTED BY
|
Name : |
Mr. Abbas |
|
Designation : |
Marketing and Advertising |
|
Contact No.: |
91-976973577 |
|
Date : |
17.08.2011 |
LOCATIONS
|
Registered/ Head Office / Factory : |
B-19, |
|
Tel. No.: |
91-22-23724862/ 23751599/ 23501815 |
|
Mobile No.: |
91-9833509236 (Mr. Ashraf) |
|
Fax No.: |
91-22-23778793 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
1200 sq ft |
|
Location : |
Owned |
DIRECTORS
As on : 30.09.2010
|
Name : |
Mr. Abdul Rehman Panchbhai |
|
Designation : |
Director |
|
Address : |
717/702, United Crystal, Meghraj Sethy Marg, Agripada, Mumbai – 400
008, |
|
Date of Birth/Age : |
15.06.1936 |
|
Qualification : |
Mechanical Engineering |
|
Experience : |
50 Years |
|
Date of Appointment : |
05.11.1977 |
|
Din No.: |
00567057 |
|
|
|
|
Name : |
Mrs. Sara Panchbhai |
|
Designation : |
Director |
|
Address : |
717/702, United Crystal, Meghraj Sethy Marg, Agripada, Mumbai – 400
008, |
|
Date of Birth/Age : |
05.12.1978 |
|
Date of Appointment : |
25.01.2005 |
|
Din No.: |
00627007 |
|
|
|
|
Name : |
Mr. Hasan Panchbhai |
|
Designation : |
Director |
|
Address : |
701 United Crystal, Meghraj Sethy Marg, Agripada, Mumbai – 400 008, |
|
Date of Birth/Age : |
09.07.1961 |
|
Date of Appointment : |
12.04.2010 |
KEY EXECUTIVES
|
Name : |
Mr. Ashraf |
|
Designation : |
Export Manager |
MAJOR SHAREHOLDERS
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Rehman Abdul Panchhai |
|
26917 |
|
Sarah Zubair Panchbhai |
|
14200 |
|
Fehmida Panchbhai |
|
4600 |
|
Hasan Mehmood Panchabhai |
|
16900 |
|
Ayesha Seth |
|
2580 |
|
|
|
|
|
Total |
|
65197 |
As on 30.09.2010
|
Equity Share Break up |
|
Percentage of
Holding |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of Heavy Construction Machinery and plant Concrete
Mixer, Batching Plant, Mechanical Grab and Piling Winches, Drilling Ring Accessories,
Transit etc. |
|
|
|
|
Products : |
·
Mini-Mobile Batching Plant (Eclectic Operated) ·
Mini-mobile Batching Plant (Diesel Operated) ·
300 Liter – Bucket Loader and Hand Feed ·
Batching Plant – Bucket Elevator and Reversible
Drum ·
Rotary Drilling Tools ·
Diaphragm Wall Equipment |
|
|
|
|
Exports : |
|
|
Products : |
·
Construction Machinery |
|
Countries : |
·
Asian ·
African Countries |
|
|
|
|
Terms : |
|
|
Selling : |
L/C,
Cash and Credit (30 / 60 / 90 Days) |
|
|
|
|
Purchasing : |
L/C,
Cash and Credit (30 / 60 / 90 Days) |
GENERAL INFORMATION
|
Customers : |
Construction
Company |
|
|
|
|
No. of Employees : |
90 (In Office – 25 and In Factory – 65) (Approximately) |
|
|
|
|
Bankers : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
A G Ayaz and Company Chartered Accountants |
|
Address : |
317, Jolly Bhavan No. 1, 10 New Marine Lines, Mumbai – 400 020, |
|
Tel. No.: |
91-22019714/ 22003349(Office) 91-23675091/ 23640131(Residence) |
|
Fax No.: |
91-22-22063804 |
|
|
|
|
Sister Concern : |
Ganesh Engineering, Mumbai |
CAPITAL STRUCTURE
As on : 31.03.2010
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 |
|
|
|
|
|
|
65197 |
Equity Shares |
Rs.10/-each |
Rs.0.651
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 |
0.651 |
0.651 |
0.651 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
50.288 |
5.625 |
4.294 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
50.939 |
6.276 |
4.945 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
50.939 |
6.276 |
4.945 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
15.905 |
15.116 |
14.198 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.009 |
0.009 |
0.009 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
21.378
|
12.310 |
9.911 |
|
|
Sundry Debtors |
40.171
|
47.058 |
29.143 |
|
|
Cash & Bank Balances |
34.581
|
26.257 |
22.145 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
12.146
|
10.946 |
11.989 |
|
Total
Current Assets |
108.276
|
96.571
|
73.188 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
72.596
|
104.746
|
81.151 |
|
|
Provisions |
0.655
|
0.674 |
1.299 |
|
Total
Current Liabilities |
73.251
|
105.420
|
82.450 |
|
|
Net Current Assets |
35.025
|
(8.849)
|
(9.262) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
50.939 |
6.276 |
4.945 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
Profit/(Loss) Before Tax |
44.620 |
2.005 |
1.564 |
|
Provision for Taxation |
0.130 |
0.675 |
0.530 |
|
Profit/(Loss) After Tax |
44.490 |
1.330 |
1.034 |
|
|
|
|
|
|
Earnings Per Share (Rs.) |
68.10 |
20.40 |
-- |
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
1350.000 |
|
|
|
|
|
The above information has been parted by Mr. Abbas.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
35.93 |
1.72
|
1.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.87 |
0.32
|
0.32 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.43 |
16.80
|
16.67 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.47 |
0.92
|
0.89 |
LOCAL AGENCY FURTHER INFORMATION
NOTE : The registered office
address of the company has been shifted from B-19, Sussex Industrial Estate K
Cross Marg, Mumbai – 400027, Maharashtra, India to Present address w.e.f.
14.10.1971.
OPERATIONS
During the year the Company earned a Profit of Rs.44.620 Millions after
making a provision for Income Tax of Rs.0.130 Million as against a Profit of
Rs.1.330 Millions after making a provision for Income Tax of Rs.0.675 Million
during the previous financial Year. With the increase in the marketing efforts
the Board of Director are of the opinion that the company will show a better
performance in the current year.
FORM : 8
|
Name of the company |
GAMZEN, PLAST PRIVATE LIMITED. |
|
Presented By |
Mr. A.A. Panchbhai |
|
1) Date and description of instrument creating the change |
Hypothecation Agreement dated 17.07.1986 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.0.200 Million |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Different types of Lathe Machines Drilling machines, welding transformers Grinders,
Bending machines, Tools, vies and Equipments etc. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
(a) Margin 25% (b) Interest @
16.5% |
|
5) Name and Address and description of the person entitled to the charge. |
|
|
6) Date and brief description of instrument modifying the charge |
-- |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
-- |
WEBSITE DETAILS
PROFILE:
Since Gamzen’s
establishment, they set up the principle that quality and service is the base
of them. They constantly strive to offer them customers the most competitive prices
without sacrificing any aspect of the quality. Working in partnership with them
customers, they take care of their requirements by offering competitive
pricing, high quality, on-time delivery and friendly attention based on
long-term strategic cooperation relationship.
Them core
philosophy is to develop and maintain long-term relationship based on honesty,
open communication, and loyalty. The key to them success is the understanding
of them customer's needs in all aspects and to keep up with the demands of a
continuously changing marketplace.
Based on the
philosophy of providing good quality of products and serve the best to them
valued customers, they are now able to expand them business to the nearby
Asian,
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 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--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.