MIRA
INFORM REPORT
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Report Date : |
12.12.2011 |
IDENTIFICATION DETAILS
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Name : |
ORBITTAL ELECTROMECH ENGINEERING PROJECTS PRIVATE LIMITED |
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Registered
Office : |
Soham, Survey No. 24, Maharsharness Colony No. 2, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
26.02.2007 |
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Com. Reg. No.: |
11-129673 |
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Capital
Investment / Paid-up Capital : |
Rs.2.150
Millions |
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CIN No.: [Company Identification
No.] |
U32109PN2007PTC129673 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNEO01575A |
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PAN No.: [Permanent Account No.] |
AAACO9079L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Electrical Control Panels. |
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No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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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 91000 |
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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. The company
is progressing well. 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.
INFORMATION DECLINED BY
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Name : |
Mr. Prakash |
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Designation : |
Accounts Manager |
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Date : |
10.12.2011 |
LOCATIONS
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Registered Office : |
Soham, Survey No. 24, Maharsharness Colony No. 2, |
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Tel No.: |
Not Available |
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Fax No.: |
Not Available |
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Email: |
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Website: |
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Factory : |
Sr. No. 83, Mauje Shivane, Tal Haveli, Near Warje Malwadi, Pune
Bangalore Highway, Pune-411023, Maharashtra, India |
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Tel. No.: |
91-20-25292910/25291673 |
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Fax No.: |
91-20-25292910/25291673 |
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E-Mail : |
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Area : |
25 Acers (Approximately) |
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Location: |
Owned |
DIRECTORS
As on 26.09.2011
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Name : |
Mr. Pravin Nilkanth Biche |
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Designation : |
Director |
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Address : |
24, Mhaskarnes Colony, Near |
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Date of Birth/Age : |
05.02.1971 |
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Date of Appointment : |
26.02.2007 |
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Din No.: |
01462419 |
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Other Directorship:
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Name : |
Mrs. Manjiri Pravin Biche |
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Designation : |
Director |
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Address : |
24, Mhaskarnes Colony, Near |
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Date of Birth/Age : |
06.04.1971 |
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Date of Appointment : |
04.06.2008 |
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Din No.: |
02205541 |
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Other Directorship:
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Name : |
Mr. Sagar Maruti Bawdhankar |
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Designation : |
Director |
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Address : |
B-2, |
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Date of Birth/Age : |
21.12.1974 |
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Date of Appointment : |
26.02.2007 |
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Din No.: |
01462454 |
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Name : |
Mr. Nikhil Vinayak Tambe |
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Designation : |
Director |
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Address : |
FL 1, |
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Date of Birth/Age : |
14.07.1972 |
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Date of Appointment : |
26.02.2007 |
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Din No.: |
01462344 |
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KEY EXECUTIVES
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Name : |
Mr. Prakash |
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Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.09.2011
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Names of Shareholders |
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No. of Shares |
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Pravin Nilkanth Biche |
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3000 |
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Manjiri Pravin Biche |
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207968 |
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Sagar Maruti Bawdhankar |
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2000 |
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Nikhil Vinayak Tambe |
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2000 |
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TOTAL |
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214968 |
As on 26.09.2011
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Electrical Control Panels. |
GENERAL INFORMATION
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No. of Employees : |
Information denied by the management. |
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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 : |
V.S. Fatehpur and Company Chartered Accountants |
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Address : |
Office 10, 4th Floor, Gangadhar Chambers, 314, Narayan Peth,
Pune-411030, Maharashtra, India |
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Tel. No.: |
91-20-30224785 |
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Mobile No.: |
91-9766328745 |
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E-Mail : |
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Pan No.: |
AASPF2138G |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
214968 |
Equity Shares |
Rs.10/- each |
Rs.2.150
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.150 |
2.150 |
2.150 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
20.762 |
14.496 |
9.975 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
22.912 |
16.646 |
12.125 |
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LOAN FUNDS |
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1] Secured Loans |
18.606 |
10.717 |
0.040 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
18.606 |
10.717 |
0.040 |
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DEFERRED TAX LIABILITIES |
0.057 |
0.043 |
0.000 |
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TOTAL |
41.575 |
27.406 |
12.165 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
12.620 |
12.751 |
5.277 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.840 |
11.080 |
10.640 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.040 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
18.330
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17.692
|
4.935 |
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Sundry Debtors |
30.900
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20.152
|
15.255 |
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Cash & Bank Balances |
0.482
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0.03
|
0.046 |
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Other Current Assets |
14.664
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0.831
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0.463 |
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Loans & Advances |
12.070
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7.352
|
3.606 |
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Total
Current Assets |
76.446
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46.057
|
24.305 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
28.276
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33.374
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17.889 |
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Other Current Liabilities |
0.501
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1.027
|
2.518 |
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Provisions |
19.575
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8.106
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7.718 |
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Total
Current Liabilities |
48.352
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42.507
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28.125 |
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Net Current Assets |
28.094
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3.550
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(3.820) |
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MISCELLANEOUS EXPENSES |
0.021 |
0.025 |
0.028 |
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TOTAL |
41.575 |
27.406 |
12.165 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
14.556 |
11.114 |
11.070 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
1.545 |
0.893 |
0.886 |
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PROFIT BEFORE
TAX |
13.011 |
10.221 |
10.184 |
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TAX |
4.238 |
3.184 |
3.869 |
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PROFIT AFTER TAX
|
6.265 |
4.521 |
6.775 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
14.497 |
9.975 |
3.200 |
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BALANCE CARRIED
TO THE B/S |
20.762 |
14.496 |
9.975 |
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Earnings Per
Share (Rs.) |
29.14 |
26.52 |
31.52 |
KEY RATIOS
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PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
14.61
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17.38
|
35.20 |
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Return on Investment (ROI) (PBT/Networth) |
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0.57
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0.61
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0.86 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.92
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3.20
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2.32 |
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Current Ratio (Current Asset/Current Liability) |
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1.58
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1.08
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0.86 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
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Sundry Creditors |
28.276
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33.374
|
17.889 |
REVIEW OF BUSINESS
OPERATIONS:
This is fourth year of operations of company. The company have made profit
of Rs.6.265 millions during the year as against Rs.4.521 millions during the
previous year. There is increase in profit 38.58% during the year. The
directors are taking efforts to improve the turnover and profit of the
business.
BANKERS CHARGES REPORT
AS PER REGISTRY
|
This form is for |
Modification of charge |
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Charge identification number of the
modified |
10114693 |
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Corporate identity number of the company |
U32109PN2007PTC129673 |
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Name of the company |
ORBITTAL ELECTROMECH ENGINEERING PROJECTS
PRIVATE LIMITED |
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Address of the registered office or of the
principal place of business in |
Soham, Survey No. 24, Maharsharness Colony No. 2, |
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Type of charge |
Book Debts Movable Property (not being pledge) Immovable Property |
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Particular of charge holder |
State Bank of
India , Pune City Branch, Near Bharat Natya Mandir, 1319, Vijay Chambers, Sadashiv
Peth, Pune-411030, Maharashtra, India |
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Email |
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Nature of description of the instrument
creating or modifying the charge |
1) Supplemental Agreement of
Loan-Cum-Hypothecation 2) Memorandum for recording Extension of
Mortgage by Deposit of Title Deeds covering Enhanced Limits and/or Creation
of Equitable Mortgage on additional properties for existing Limits and
Enhanced Limits and Additional Facilities 3) Letter of Arrangement (All the documents executed for a single
modification) |
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Date of instrument Creating the charge |
03.03.2011 |
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Amount secured by the charge |
Rs.35.000 Millions |
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Brief particulars of the principal terms an
conditions and extent and operation of the charge |
Rate of Interest Demand Cash Credit 14.75% p.a. or the rate
as may be prescribed by the Bank from time to time. Terms of Repayment As per the Agreement with the Bank Margin RM 25%, SIP/FG 30%, Receivables(cover
period 60 days) 40%, BG Cash Margin 25% Extent and Operation of the charge Details of Facilities (Rs. in Millions) -
DCC 20.000, BG 15.000, Total Rs.35.000 Millions. First charge on hypothecated and mortgaged
assets continues till full repayment of Loan. Change in Branch from State Bank of India,
SMECCC, 2nd Floor, Madhuri Kishor Chambers Senapati Bapat Road, Pune to State
Bank of India, Pune City Branch, Near Bharat Natya Mandir,1319, Vijay
Chambers, Sadashiv Peth, Pune. |
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Short particulars of the property charged |
Primary Security - Hypothecation of Stock
of Raw Material, Semi-Finished/Finished Goods including Goods in Transit and
receivables. Collateral Security by way of Equitable
Mortgage of Immovable properties owned by Company - 1) All that piece and parcel of Flat
No.102, on the 1st Floor of the Building known as "Mystique Moods" constructed on
property bearing S.No.230A Hissa No.5 as per Falani for S.No.230A and Hissa
No.3/1,S.No.231/1/1 sit. at Lohegaon Land adm. about 886.40 Sq. fts., built
up area 1108 Sq. Fts. 2) Flat No.7, 1st Floor, Bhupati Complex,
CTS No.985, Sadashiv Peth, Pune-411030. Built up Area adm.993 Sq. Ft. 3) Open Industrial Plot of Land located at
Gat No.357/85, Mauje Kharabwadi, Chakan adm.9500 Sq. Ft. Hypothecation of Plant and Machinery,
Equipments and other movable assets of the Company. |
|
Date of latest modification prior to the
present modification |
28.04.2010 |
|
Particulars of the present
modification |
Limit enhanced upto Rs.35.000 Millions.
Charge on hypothecation assets and mortgage on immovable property of Company
Flat No.102, on 1st Floor "Mystique Moods" const. on prop. bearing
S.No.230A Hissa No.5 as per Falani for S.No.230A and Hissa No.3/1,S.No.231/1/1
at Lohegaon Land adm. about 886.40 Sq. fts., built up area 1108 Sq. Fts. was
extended and property at Flat No.7,,Bhupati Complex, CTS No.985, Sadashiv
Peth, Built up Area adm.993 Sq. Ft. and Open Industrial Plot of Land at Gat
No. 357/85, Mauje Kharabwadi, adm. 9500 Sq. Ft were mortgage to secure
facilities. |
FIXED ASSETS:
- Plant and
Machinery
- Office
Equipments
- Vehicles
- Furniture and
Fixtures
- Electrical
Equipments
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.52.23 |
|
|
1 |
Rs.81.55 |
|
Euro |
1 |
Rs.69.60 |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
46 |
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.