MIRA INFORM REPORT
|
Report Date : |
21.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
WAAREE MM PETRO TECH PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
602, 6th floor, Western Edge – I, Western Express Highway,
Borivali (East), Mumbai – 400066, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
22.05.2007 |
|
|
|
|
Com. Reg. No.: |
11-171054 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1.954 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U11201MH2007PTC171054 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMW03131C |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Importer, Wholesalers and distributor of
Solution providers in Auto LPG Dispensing Business Marketing LPG Dispensers
and providing Maintenance contracts for ALDS through out India |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (16) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a joint venture between Waaree Instruments Limited and MM
Sp. Z.O.O. (Limited). It is an established company having moderate track. There appears huge
accumulated losses recorded by the company. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings on a secured 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 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
602, 6th floor, Western Edge – I, Western Express Highway,
Borivali (East), Mumbai – 400066, Maharashtra, India |
|
Tel. No.: |
91-22-66444444 |
|
Fax No.: |
91-22-66444400 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Hitesh Chimanlal Doshi |
|
Designation : |
Director |
|
Address : |
93/94, Mahagiri, Ashok Nagar, Kandivali (East), Mumbai – 400101,
Maharashtra, India |
|
Date of Birth/Age : |
22.02.1967 |
|
Date of Appointment : |
22.05.2007 |
|
DIN No.: |
00293668 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U29299MH1989PLC050808 |
WAAREE
INSTRUMENTS LIMITED |
Additional
director |
1/4/2011 |
27/02/1989 |
- |
Active |
NO |
|
2 |
U32109MH1998PTC116358 |
WAAREE
INFRASTRUCTURE AND AGRITECH PRIVATE LIMITED |
Director |
2/3/2000 |
2/3/2000 |
- |
Active |
NO |
|
3 |
U29199MH2006PTC165999 |
NESSTECH
INSTRUMENTS PRIVATE LIMITED |
Director |
5/12/2006 |
5/12/2006 |
30/01/2011 |
Active |
NO |
|
4 |
U29199MH2006PTC166106 |
NIVELCO
INSTRUMENTS INDIA PRIVATE LIMITED |
Director |
11/12/2006 |
11/12/2006 |
24/03/2011 |
Active |
NO |
|
5 |
U29253MH2007PTC166988 |
OMNTEC
WAAREE ATG PRIVATE LIMITED |
Director |
24/01/2007 |
24/01/2007 |
- |
Active |
NO |
|
6 |
U29248MH1990PTC059463 |
WAAREE
ENERGIES PRIVATE LIMITED |
Director |
16/02/2007 |
16/02/2007 |
- |
Active |
NO |
|
7 |
U11201MH2007PTC171054 |
WAAREE
MM PETRO TECH PRIVATE LIMITED |
Director |
22/05/2007 |
22/05/2007 |
- |
Active |
NO |
|
8 |
U31900MH2007PTC171987 |
WAAREE
RETAILS PRIVATE LIMITED |
Director |
25/06/2007 |
25/06/2007 |
- |
Active |
NO |
|
9 |
U11100MH2008PTC183254 |
WAAREE
OILS PRIVATE LIMITED |
Director |
6/6/2008 |
6/6/2008 |
- |
Active |
NO |
|
10 |
U51109MH2009PTC189836 |
BONETTI
WAAREE INDIA PRIVATE LIMITED |
Director |
23/01/2009 |
23/01/2009 |
- |
Active |
NO |
|
11 |
U74990MH2009PTC196654 |
VEER
TECHNO SOLUTIONS PRIVATE LIMITED |
Director |
23/10/2009 |
23/10/2009 |
28/02/2010 |
Active |
NO |
|
12 |
U40106MH2009PTC196934 |
WAA
SOLAR PRIVATE LIMITED |
Director |
9/11/2009 |
9/11/2009 |
- |
Active |
NO |
|
13 |
U40106MH2010PTC205911 |
ARIES
WAAREE SOLAR PRIVATE LIMITED |
Director |
24/07/2010 |
24/07/2010 |
- |
Active |
NO |
|
14 |
U40102MH2010PTC206704 |
PATAN
SOLAR PRIVATE LIMITED |
Director |
17/08/2010 |
17/08/2010 |
- |
Active |
NO |
|
15 |
U40106MH2010PTC208323 |
WAAREE
INDUSTRIES PRIVATE LIMITED |
Director |
27/09/2010 |
27/09/2010 |
- |
Active |
NO |
|
16 |
U40106MH2010PTC208561 |
BLUE
RAYS SOLAR PRIVATE LIMITED |
Director |
3/10/2010 |
3/10/2010 |
- |
Active |
NO |
|
17 |
U40101MH2010PTC208636 |
EVERSHINE
SOLAR PRIVATE LIMITED |
Director |
5/10/2010 |
5/10/2010 |
- |
Active |
NO |
|
18 |
U29268MH2010PTC208770 |
WAAREE
VALVES PRIVATE LIMITED |
Director |
7/10/2010 |
7/10/2010 |
- |
Active |
NO |
|
19 |
U40300MH2010PTC208944 |
SAURASTRA
SOLAR PRIVATE LIMITED |
Director |
13/10/2010 |
13/10/2010 |
- |
Active |
NO |
|
20 |
U40100GJ2010PTC061748 |
WAAREE
SOLAR PRIVATE LIMITED |
Director |
20/12/2010 |
20/12/2010 |
- |
Active |
NO |
|
21 |
U29219MH2006PTC163370 |
WAAREV
SENSORS PRIVATE LIMITED |
Director |
26/09/2011 |
31/03/2011 |
- |
Active |
NO |
|
22 |
U74999DL2010PTC201198 |
GREENTECH
POWER PRIVATE LIMITED |
Director |
12/10/2011 |
12/10/2011 |
- |
Active |
NO |
|
23 |
U40106RJ2010PTC031185 |
RAYS
POWER PRIVATE LIMITED |
Director |
7/12/2011 |
7/12/2011 |
- |
Active |
NO |
|
Name : |
Mr. Viren Chimanlal Doshi |
|
Designation : |
Director |
|
Address : |
93/94, Mahagiri, Ashok Nagar, Kandivali (East), Mumbai – 400101,
Maharashtra, India |
|
Date of Birth/Age : |
06.11.1968 |
|
Date of Appointment : |
22.05.2007 |
|
DIN No.: |
00207121 |
Other Directorship:
|
| |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U32109MH1998PTC116358 |
WAAREE
INFRASTRUCTURE AND AGRITECH PRIVATE LIMITED |
Director |
2/3/2000 |
2/3/2000 |
- |
Active |
NO |
|
2 |
U29299MH1989PLC050808 |
WAAREE
INSTRUMENTS LIMITED |
Whole-time
director |
1/4/2010 |
27/09/2000 |
21/03/2011 |
Active |
NO |
|
3 |
U29219MH2006PTC163370 |
WAAREV
SENSORS PRIVATE LIMITED |
Director |
28/07/2006 |
28/07/2006 |
- |
Active |
NO |
|
4 |
U29253MH2007PTC166988 |
OMNTEC
WAAREE ATG PRIVATE LIMITED. |
Director |
24/01/2007 |
24/01/2007 |
- |
Active |
NO |
|
5 |
U11201MH2007PTC171054 |
WAAREE
MM PETRO TECH PRIVATE LIMITED |
Director |
25/05/2007 |
25/05/2007 |
- |
Active |
NO |
|
6 |
U31900MH2007PTC171987 |
WAAREE
RETAILS PRIVATE LIMITED |
Director |
25/06/2007 |
25/06/2007 |
- |
Active |
NO |
|
7 |
U29248MH1990PTC059463 |
WAAREE
ENERGIES PRIVATE LIMITED |
Director |
26/11/2007 |
26/11/2007 |
- |
Active |
NO |
|
8 |
U51109MH2009PTC189836 |
BONETTI
WAAREE INDIA PRIVATE LIMITED |
Director |
23/01/2009 |
23/01/2009 |
9/9/2011 |
Active |
NO |
|
9 |
U40106MH2009PTC196934 |
WAA SOLAR
PRIVATE LIMITED |
Director |
9/11/2009 |
9/11/2009 |
1/9/2010 |
Active |
NO |
|
10 |
U40102MH2010PTC206704 |
PATAN
SOLAR PRIVATE LIMITED |
Director |
17/08/2010 |
17/08/2010 |
- |
Active |
NO |
|
11 |
U40106MH2010PTC208323 |
WAAREE
INDUSTRIES PRIVATE LIMITED |
Director |
27/09/2010 |
27/09/2010 |
- |
Active |
NO |
|
12 |
U40106MH2010PTC208561 |
BLUE
RAYS SOLAR PRIVATE LIMITED |
Director |
3/10/2010 |
3/10/2010 |
- |
Active |
NO |
|
13 |
U40101MH2010PTC208636 |
EVERSHINE
SOLAR PRIVATE LIMITED |
Director |
5/10/2010 |
5/10/2010 |
- |
Active |
NO |
|
14 |
U29268MH2010PTC208770 |
WAAREE
VALVES PRIVATE LIMITED |
Director |
7/10/2010 |
7/10/2010 |
- |
Active |
NO |
|
15 |
U40300MH2010PTC208944 |
SAURASTRA
SOLAR PRIVATE LIMITED |
Director |
13/10/2010 |
13/10/2010 |
- |
Active |
NO |
|
16 |
U40100GJ2010PTC061748 |
WAAREE
SOLAR PRIVATE LIMITED |
Director |
20/12/2010 |
20/12/2010 |
- |
Active |
NO |
|
17 |
U40106MH2010PTC205911 |
ARIES
WAAREE SOLAR PRIVATE LIMITED |
Director |
26/09/2011 |
31/03/2011 |
- |
Active |
NO |
|
Name : |
Mr. Narenkumar D. Desai |
|
Designation : |
Director |
|
Address : |
93/94, Mahagiri, Ashok Nagar, Kandivali (East), Mumbai – 400101,
Maharashtra, India |
|
Date of Birth/Age : |
03.05.1955 |
|
Date of Appointment : |
16.11.2007 |
|
DIN No.: |
01816218 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U65900MH2007PLC175543 |
NIKUNJ
SHAH SHARES AND STOCK BROKERS LIMITED |
Director |
31/10/2007 |
31/10/2007 |
27/08/2010 |
Active |
|
|
2 |
U11201MH2007PTC171054 |
WAAREE
MM PETRO TECH PRIVATE LIMITED |
Managing
director |
20/10/2008 |
16/11/2007 |
- |
Active |
NO |
|
3 |
U74990MH2009PTC196654 |
VEER
TECHNO SOLUTIONS PRIVATE LIMITED |
Director |
23/10/2009 |
23/10/2009 |
- |
Active |
NO |
|
Name : |
Mr. Salwomir Mysliwiec |
|
Designation : |
Director |
|
Address : |
Biesiadna 2, 44-240 Zory, Slaskie |
|
Date of Birth/Age : |
05.11.1972 |
|
Date of Appointment : |
16.11.2007 |
|
DIN No.: |
02035425 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Hitesh Chimanlal Doshi |
|
500 |
|
Mr. Viren Chimanlal Doshi |
|
500 |
|
Waaree Instruments Limited, India |
|
8770 |
|
MM Petro Sp.Z.O.O. (Limited), India |
|
9770 |
|
|
|
|
|
Total |
|
19540 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
50.00 |
|
Bodies corporate |
44.88 |
|
Directors or relatives of Directors |
5.12 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importer, Wholesalers and distributor of
Solution providers in Auto LPG Dispensing Business Marketing LPG Dispensers
and providing Maintenance contracts for ALDS through out India. |
GENERAL INFORMATION
|
Bankers : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
---- |
|
|
|
|
Auditors : |
|
|
Name : |
M N Sheth and Associates Chartered Accountant |
|
Address : |
28, 2nd Floor., 47 Dr. M B Velkar Lane, Kalbadevi Road, Mumbai
– 400002, Maharashtra, India |
|
PAN No.: |
AALPS0461J |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.100/- each |
Rs. 5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
19540 |
Equity Shares |
Rs.100/-
each |
Rs. 1.954
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1.954 |
1.954 |
1.954 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.281 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(0.898) |
|
|
NETWORTH |
1.954 |
1.954 |
1.337 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
6.294 |
5.984 |
7.671 |
|
|
TOTAL BORROWING |
6.294 |
5.984 |
7.671 |
|
|
DEFERRED TAX LIABILITIES |
0.022 |
0.000 |
0.034 |
|
|
|
|
|
|
|
|
TOTAL |
8.270 |
7.938 |
9.042 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.946 |
0.459 |
0.389 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.005 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4.999
|
4.810 |
4.178 |
|
|
Sundry Debtors |
4.655
|
5.891 |
7.304 |
|
|
Cash & Bank Balances |
0.726
|
0.223 |
0.540 |
|
|
Other Current Assets |
1.794
|
1.441 |
0.000 |
|
|
Loans & Advances |
0.508
|
0.570 |
0.977 |
|
Total
Current Assets |
12.682
|
12.935 |
12.999 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
6.036
|
3.858 |
3.639 |
|
|
Other Current Liabilities |
1.346
|
0.322 |
0.707 |
|
|
Provisions |
0.421
|
1.502 |
0.000 |
|
Total
Current Liabilities |
7.803
|
5.682 |
4.346 |
|
|
Net Current Assets |
4.879
|
7.253 |
8.653 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
2.446 |
0.221 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
8.270 |
7.938 |
9.042 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
16.564 |
22.451 |
9.047 |
|
|
|
Other Income |
0.286 |
0.143 |
6.672 |
|
|
|
TOTAL (A) |
16.850 |
22.594 |
15.719 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Trading and other Expenses |
14.168 |
16.729 |
6.823 |
|
|
|
Personnel Expenses |
3.662 |
3.965 |
0.000 |
|
|
|
Non Operating Expenses |
0.000 |
0.187 |
0.000 |
|
|
|
Administration and Selling Cost |
0.000 |
0.000 |
4.803 |
|
|
|
Employees Cost |
0.000 |
0.000 |
0.979 |
|
|
|
TOTAL (B) |
17.830 |
20.881 |
12.605 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(0.980) |
1.713 |
3.114 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.733 |
0.885 |
0.788 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
(1.713) |
0.828 |
2.326 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.062 |
0.041 |
0.031 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
(1.775) |
0.787 |
2.295 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.488 |
0.110 |
0.063 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
(2.223) |
0.677 |
2.232 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(0.221) |
(0.898) |
(3.131) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(2.445) |
(0.221) |
(0.898) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
Nil |
0.057 |
5.862 |
|
|
TOTAL EARNINGS |
Nil
|
0.057 |
5.862 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
5.340 |
9.794 |
0.000 |
|
|
TOTAL IMPORTS |
5.340 |
9.794 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(113.80) |
34.66 |
114.25 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(13.19)
|
2.99 |
14.19 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
(10.71)
|
3.50 |
25.36 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(13.02)
|
5.87 |
18.37 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.90)
|
0.03 |
1.71 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
7.21
|
0.40 |
8.98 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.62
|
2.27 |
2.99 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS :
The sales turnover
of the company together with other Incomes for the year increased substantially
to Rs. 16.851 millions as compared to Rs 22.594 millions in the previous period
and the operating loss of the company for the current year is Rs. 0.980
millions against the previous year profit of Rs 1.713 millions.
FIXED ASSETS :
·
Computer
·
Plant and Machinery
·
Testing Equipments
·
Tools and Dies
·
Mobile Phones
AS PER WEBSITE DETAILS
WAAREE MM Petro is an Indian Joint
Venture between the Global Instrumentation leader of India – WAAREE and a
European LPG System major from Poland – MM Petro.
WAAREE Instruments Limited, a
renowned Instrumentation Company of India has ventured in to the AutoLPG
Dispensing Business Area. To pursue this WAAREE have formed a joint venture
with one of the most leading East European Company from Poland – MM Petro. The
joint venture has been a reality now. They would like to introduce ourselves
first as Equipment and Service Provider in this Business Area.
They provide herewith the Corporate profile of both the
partner-companies for your perusal. Further they give their network and
background of the key persons who will be managing this business in the Indian
Territory.
The Joint Venture came in to existence from August 2007 to cater to
the LPG System demands in the Indian Subcontinent.
WAAREE founded in 1989, offers a broad range of products and
services for process control instrumentation and automation.
Since inception WAAREE is continuously engaged in providing world
class instrumentation solutions.
Today, it has evolved as an organization with global reach and
having multi products and multi business activities. WAAREE has already
clocked a turnover of Rs. 480 M. in the preceding year.
Their quality policy is laid down on the ground of Total Quality
Management. To adhere to these standards WAAREE continuously upgrades its
technology and resources in conformance with the ISO procedures and has
been certified by TUV as
an ISO 9001:2000 company.
Their multiple manufacturing facilities offer a wide variety of:
·
Pressure Gauges and Switches
·
Temperature Gauges and Thermowells
·
Level Indicators and Switches
·
Flow Switches
·
Instrumentation Tube Fittings
·
Needle Valves and Manifolds
·
Diaphragm Seals (including its
calibration and repairs)
WAAREE is known to be one-stop-shop for various instrumentation
products, thus apart from manufacturing and service business, the company has
association with multiple world class principals. With their technology and
products, WAAREE caters to its customers also for their requirements of:
·
Digital Gauges for Pressure and Vacuum
Measurement
·
Piezo resistive as well as Smart
Pressure Transmitters
·
Instruments for Air Velocity, Moisture,
Humidity and Dew point Measurement
·
Gas Detection and Analysis Solutions -
Portable and Online
·
Water Analysis, Density and
Concentration Measurement - Portable and Online
·
Level Monitoring, Controlling, Tank
Gauging and Interface Level Solutions
·
Monitors for Opacity and Dust
Measurement
·
Rotameters and Volumetric Flowmeters
·
Ultrasonic Gas Leak Detection
·
Solutions for Process parameters
Measurement info by SMS technology
The trio of the above makes us clearly the customer's first choice
and enables us to cater to the majority of their business needs.
MM PETRO Sp. z o.o. (Limited), a €
32 M (Rs. 460 M) Company, provides comprehensive service of domestic and
foreign fuel markets carrying into effect the motto:
MM PETRO FOR FILLING STATIONS
The company produces liquid fuel and LPG dispensers and has wide
experience in design, development and manufacturing of these products. The
company continues the best tradition and practice of: MM Myśliwiec Company from
Żory – a well-established designer and contractor of fuel and gas systems
and ZAP-PETRO from
Ostrów Wielkopolski – a manufacturer of fuel dispensers with a considerable
tradition in construction, development and manufacturing of these devices.
MM Petro belongs to the leading Polish suppliers of devices and
services for filling stations.
The range of products and services includes:
·
Manufacturing Liquid Fuel pumps
·
Manufacturing LPG Dispensers
·
Manufacturing of CNG Dispensers
·
Complete execution of above-ground and
underground LPG stations
·
Execution of container tank filling
stations
·
Manufacturing additional devices for
filling stations (vacuum cleaners, car compressors, windscreen washer liquid
filling devices)
·
Execution and equipping of wholesale
depots
·
Guarantee and post-guarantee service
·
Designing and execution of fuel
installations in car production lines.
MM Petro have a fully equipped production hall and test stands TO
MANUFACTURE AND DISPATCH MORE THAN 300 LPG DISPENSERS PER YEAR which meet the
requirements of the Office of Weights and Measures and enable testing of LPG
and liquid fuel dispensers in conditions close to natural and in extreme low
and high temperatures. The capacity is over and above that for the Petrol and
Diesel Dispensing Pumps and Multi-Product Units.
The products have a modern design and construction with the use of
the world’s latest technical solutions. They are heavy-duty and characterized
by the top quality workmanship.
MM Petro is the member of the Polish Chamber of Liquid Fuels,
Petroleum Equipment Institute (PEI) - USA, Regional Economic Chamber, Chamber
of Industry and Commerce of the South Great Poland, Business Centre Club,
Polish-Lithuanian Economic Chamber of Eastern Markets.
They have their service network already in place. This service
organization is catering to the needs of the equipment and products
manufactured as well as treaded by WAAREE.
They draw from the rich service experience of MM Petro, Poland in
buttressing this network to make it robust. MM Petro has been services
customers like: LOTOS PALIWA (Exclusive), SHELL Poland (Exclusive), BRITISH
PETROLEUM, ORLEN, SLOVNAFT, JET, STATOIL in the East European Region
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. 53.02 |
|
|
1 |
Rs. 82.34 |
|
Euro |
1 |
Rs. 68.99 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
16 |
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.