MIRA
INFORM REPORT
|
Report Date : |
20.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
MEHTA CAD CAM SYSTEMS PRIVATE LIMITED |
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Registered Office
: |
4 and 5, 2nd Floor, Near Tej Motors, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
06.06.2000 |
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Com. Reg. No.: |
04-038163 |
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Capital
Investment / Paid-up Capital : |
Rs.3.000 millions |
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CIN No.: [Company Identification
No.] |
U72200GJ2000PTC038163 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
AHMM00415C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Laser Cutting Machine, Cutting
and Welding Machines, etc. |
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No. of Employees
: |
400 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 243000 |
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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. 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 |
INFORMATION PARTED BY (General Details)
|
Name : |
Mr. Diwakar
Mishra |
|
Designation : |
Marketing
Head |
|
Contact No.: |
91-9227678044 |
|
Date : |
15.12.2011 |
LOCATIONS
|
Registered Office : |
4 and 5, 2nd Floor, Near Tej Motors, Opposite GNFC
Towers, Sarkhej, Gandhinagar Highway, Ahmedabad – 380 054, Gujarat, India |
|
Tel. No.: |
91-79-26840551/ 26840552/ 26840553/ 66106010 |
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Mobile No.: |
91-9227678044 (Mr. Diwakar Mishra) |
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Fax No.: |
91-79-26840556 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory : |
Located at: v
Ahmedabad, |
DIRECTORS
As on 31.08.2011
|
Name : |
Ms. Sangita Shailesh Mehta |
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Designation : |
Director |
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Address : |
B/2, Shauhad Apartment, Near Hinu Colony, Navrangpura,
Ahmedabad – 380 015, |
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Date of Birth/Age : |
13.12.1970 |
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Date of Appointment : |
06.06.2000 |
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DIN No.: |
00994441 |
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Other Directorship :
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||||||||||||||||||||||||||||||||
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Name : |
Mr. Shailesh Narayanchandra Mehta |
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Designation : |
Director |
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Address : |
B/2, Shauhad Apartment, Near Hinu Colony,
Navrangpura, Ahmedabad – 380 015, |
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Date of Birth/Age : |
28.07.1967 |
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Date of Appointment : |
06.06.2000 |
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DIN No.: |
00994497 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Diwakar
Mishra |
|
Designation : |
Marketing
Head |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.08.2011
|
Names of Shareholders |
|
No. of Shares |
|
Anaro Devi Kharakia |
|
1 |
|
Anita N. Shah |
|
1 |
|
Gopi Bajaj |
|
1 |
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|
9668 |
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Jagdishrasad Pannalal Kharakia HUF |
|
100 |
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1 |
|
Raj Shailesh Mehta |
|
4500 |
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Raman Jain HUF |
|
100 |
|
Ramchand Bajaj |
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1 |
|
Ritesh Kumar Kharakia |
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1 |
|
Riya Shailesh Mehta |
|
44366 |
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Sangita S. Mehta |
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98099 |
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Sanjay Shah |
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1 |
|
Shailesh N. Mehta HUF |
|
7300 |
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Shailesh N. Mehta |
|
54051 |
|
Spectron Lasers Private Limited |
|
77964 |
|
Zenith Healthcare Limited |
|
3845 |
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Total |
|
300000 |
As on 31.08.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
30.00 |
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Directors
or relatives of directors |
|
70.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
GENERAL INFORMATION
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Customers : |
End Users and Manufacturing Companies |
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No. of Employees : |
400 (Approximately) |
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Bankers : |
v
Syndicate Bank, v
Standard Chartered Bank, Ground Floor,
Abhijeet-II, Mithakali Six Roads, Navrangpura, Ahmedabad – 380 009, v
Kotak Mahindra Bank v
HDFC Bank v
Axis Bank |
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Facilities : |
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
Nimesh M. Shah and Company Chartered Accountants |
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Address : |
4th Floor, "Shantam", Near Havmor Restaurant,
Navrangpura, Ahmedabad – 380 009, |
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Income-tax
PAN of auditor or auditor's firm : |
AADFN5729L |
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|
|
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Associations : |
v
Dilse ( v
Spectron Laser Private Limited v
Mark India INC v
Mehta Cad v
Mehta Brothers |
CAPITAL STRUCTURE
As on 31.08.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs.10/- each |
Rs.3.000 millions |
|
|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs.10/- each |
Rs.3.000 millions |
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|
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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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|
|
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1] Share Capital |
3.000 |
2.961 |
2.961 |
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2] Share Application Money |
0.000 |
1.935 |
0.000 |
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3] Reserves & Surplus |
57.705 |
51.248 |
47.904 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
60.705 |
56.144 |
50.865 |
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LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
51.477 |
30.988 |
9.891 |
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2] Unsecured Loans |
16.600 |
17.270 |
12.672 |
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TOTAL BORROWING |
68.077 |
48.258 |
22.563 |
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DEFERRED TAX LIABILITIES |
0.645 |
0.435 |
0.215 |
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TOTAL |
129.427 |
104.837 |
73.643 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
16.396 |
7.533 |
5.708 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
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 |
76.998
|
38.984 |
30.903 |
|
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Sundry Debtors |
84.772
|
69.390 |
42.320 |
|
|
Cash & Bank Balances |
4.636
|
6.576 |
4.688 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
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Loans & Advances |
8.800
|
10.341 |
8.703 |
|
Total
Current Assets |
175.206
|
125.291 |
86.614 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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|
Sundry Creditors |
48.452
|
18.373 |
14.186 |
|
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Other Current Liabilities |
6.630
|
4.327 |
0.979 |
|
|
Provisions |
7.093
|
5.287 |
4.164 |
|
Total
Current Liabilities |
62.175
|
27.987 |
19.329 |
|
|
Net Current Assets |
113.031
|
97.304 |
67.285 |
|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.650 |
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|
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|
|
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TOTAL |
129.427 |
104.837 |
73.643 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
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|
SALES |
|
|
|
|
|
|
|
Income |
437.980 |
298.709 |
225.331 |
|
|
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Other Income |
0.335 |
0.090 |
0.204 |
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TOTAL (A) |
438.315 |
298.799 |
225.535 |
|
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Increase/Decrease in Stock |
(33.329) |
(8.081) |
(7.947) |
|
|
|
Raw Material Consumed |
7.163 |
0.000 |
0.000 |
|
|
|
Purchase of Finished Goods |
319.715 |
207.770 |
160.272 |
|
|
|
Manufacturing Expenses |
0.801 |
0.000 |
0.000 |
|
|
|
Administrative Expenses |
20.653 |
15.982 |
13.262 |
|
|
|
Salary & Wages |
51.823 |
31.893 |
24.226 |
|
|
|
Selling & Distribution |
54.021 |
39.474 |
25.280 |
|
|
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TOTAL (B) |
420.847 |
287.038 |
215.093 |
|
|
|
|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
17.468 |
11.761 |
10.442 |
|
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|
|
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|
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|
Less |
INTEREST & FINANCIAL
EXPENSES (D) |
8.779 |
4.866 |
4.721 |
|
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|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
8.689 |
6.895 |
5.721 |
|
|
|
|
|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.715 |
1.258 |
1.396 |
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|
|
|
|
|
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|
PROFIT BEFORE
TAX (E-F) (G) |
6.974 |
5.637 |
4.325 |
|
|
|
|
|
|
|
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|
Less |
TAX (H) |
2.401 |
2.294 |
1.694 |
|
|
|
|
|
|
|
|
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|
PROFIT AFTER TAX
(G-H) (I) |
4.573 |
3.343 |
2.631 |
|
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|
|
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|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
8.048 |
4.705 |
2.074 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
12.621 |
8.048 |
4.705 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
0.120 |
0.000 |
0.101 |
|
|
|
|
|
|
|
|
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|
IMPORT VALUE |
241.342 |
156.115 |
115.836 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
15.24 |
11.29 |
8.88 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.04
|
1.12 |
1.17 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.59
|
1.89 |
1.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.64
|
4.24 |
4.68 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.10 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.15
|
1.36 |
0.82 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.82
|
4.48 |
4.48 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of
Establishment |
Yes |
|
2) Locality of
the firm |
Yes |
|
3) Constitutions
of the firm |
Yes |
|
4) Premises
details |
Yes |
|
5) Type of
Business |
Yes |
|
6) Line of
Business |
Yes |
|
7) Promoter’s
background |
-- |
|
8) No. of
employees |
Yes |
|
9) Name of person
contacted |
Yes |
|
10) Designation
of contact person |
Yes |
|
11) Turnover of
firm for last three years |
No |
|
12) Profitability
for last three years |
No |
|
13) Reasons for
variation <> 20% |
No |
|
14) Estimation
for coming financial year |
Yes |
|
15) Capital in
the business |
Yes |
|
16) Details of
sister concerns |
No |
|
17) Major
suppliers |
No |
|
18) Major
customers |
No |
|
19) Payments
terms |
Yes |
|
20) Export /
Import details (if applicable) |
Yes |
|
21) Market
information |
-- |
|
22) Litigations
that the firm / promoter involved in |
-- |
|
23) Banking
Details |
Yes |
|
24) Banking
facility details |
No |
|
25) Conduct of the
banking account |
-- |
|
26) Buyer visit
details |
-- |
|
27) Financials,
if provided |
No |
|
28) Incorporation
details, if applicable |
-- |
|
29) Last accounts
filed at ROC |
-- |
|
30) Major
Shareholders, if available |
-- |
FINANCIAL RESULTS
The Profit and
Loss Account of the company shows a Net Profit amounting to Rs.4.573 millions.
GENERAL REVIEW
The company’s
performance was satisfactory during the year. The company achieved its turnover
as well as its target of Net Profit. The company shall be able to achieve its
target of Net Profit in the year to come. The future of the company seems to be
bright.
FORM 8:
|
Corporate
identity number of the company |
U72200GJ2000PTC038163 |
|
Name of the
company |
MEHTA CAD CAM SYSTEMS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
4 and 5, 2nd Floor, Near Tej Motors, Opposite GNFC
Towers, Sarkhej, Gandhinagar Highway, Ahmedabad – 380 054, Gujarat, India E-Mail: nimeshshahca@yahoo.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10177221 |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Standard Chartered Bank, Ground Floor, Abhijeet-II, Mithakali Six
Roads, Navrangpura, Ahmedabad – 380 009, E-Mail: sme.form8@sc.com |
|
Nature of
description of the instrument creating or modifying the charge |
Enhancement of
charge of mortgage deed (without possession) dated 21.09.2011 |
|
Date of
instrument Creating the charge |
21.09.2011 |
|
Amount secured by
the charge |
Rs.183.900
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: As Agreed by and
with the bank from time to time Terms of
Repayment: As Agreed by and with
the bank from time to time Margin: As Applicable if
any, Extent and
Operation of the charge: First Exclusive
Charge on Securities for Rs.183.900 millions
|
|
Short particulars
of the property charged |
Office No.4 and 5
on 2nd Floor adm. 4800 sq.ft. of Sachet Owners Association
situated at Survey No.26 paiki being final Plot No.68 of TPS 50 of Mouje
Bodakdev Taluka Dascroi in the registration District Ahmedabad Property bearing
18 and 18A admeasuring 4518 sq meter in the scheme " The Radhe
Estate" situated at S.No.419 (Paiki) of Mouje Village Changodar, Taluka
Sanand District-Ahmedabad |
|
Date of latest
modification prior to the present modification |
31.08.2010 |
|
Particulars of
the present modification |
By mortgage deed for
enhancement of charge (without possession) present facility extends from
Rs.111.400 millions to Rs.183.900 millions for the additional immoveable
property i.e. property bearing 18 and 18A admeasuring 4518 sq meter in the
scheme " The Radhe Estate" situated at S.No.419 (Paiki) of Mouje
Village Changodar, Taluka Sanand District-Ahmedabad. |
FIXED ASSETS:
v
Computer
v
Electric Fittings
v
Machinery
v
Motor Car
v
v
Office Equipment
v
Office Furniture
v
Scooter
v
UPS
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.52.95 |
|
|
1 |
Rs.82.04 |
|
Euro |
1 |
Rs.68.91 |
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 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.