MIRA
INFORM REPORT
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Report Date : |
24.12.2011 |
IDENTIFICATION DETAILS
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Name : |
SHREE MOMAI ROTOCAST CONTAINERS PRIVATE LIMITED |
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Registered Office : |
311/A/16, Kalpana Society, |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
22.01.2004 |
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Com. Reg. No.: |
04-43497 |
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Capital Investment / Paid-up Capital : |
Rs.0.100 million |
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CIN No.: [Company
Identification No.] |
U25209GJ2004PTC043497 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BRDS03440D |
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PAN No.: [Permanent
Account No.] |
AAICS0577K |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Manufacturer and Exporter of Rotational Moulding Machinery. |
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No. of Employees : |
30 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 7000 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small company in its field. Its scale of activities are limited.
Trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for small 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) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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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
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Name : |
Mrs. Ranjan Ramchandran Iyer |
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Designation : |
Director |
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Contact No.: |
91-9825310071 |
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Date : |
15.12.2011 |
LOCATIONS
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Registered Office : |
311/A/16, Kalpana Society, |
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Tel. No.: |
Not Available |
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Mobile No.: |
91-9825310071 (Mrs. Ranjan Ramchandran Iyer) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website: |
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Area : |
1500 sq. fts. |
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Location : |
Owned |
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Factory : |
C/1-821 and 822, GIDC Vaghodia INA, Vadodara – 391 760, |
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Tel. No.: |
91-2668-263440 / 263358 |
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Fax No.: |
91-2668-263358 |
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Area : |
25000 sq. fts. |
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Location : |
Owned |
DIRECTORS
As on 30.09.2011
|
Name : |
Mrs. Ranjan Ramchandran Iyer |
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Designation : |
Director |
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Address : |
311/A/16, Kalpana Society, |
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Date of Birth/Age : |
02.03.1966 |
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Qualification : |
Diploma in Mechanical Engineering |
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Date of Appointment : |
22.01.2004 |
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DIN No.: |
00650443 |
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Name : |
Mr. Ramchandran Krishnan Iyer |
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Designation : |
Director |
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Address : |
C-57, Lakilesh Society, No.2, B/h Sardar Estate, |
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Date of Birth/Age : |
02.07.1953 |
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Qualification : |
B.com |
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Date of Appointment : |
22.01.2004 |
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DIN No.: |
01867754 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
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No. of Shares |
|
Ramchandran Krishnan Iyer |
|
2500 |
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Ranjan Ramchandran Iyer |
|
7500 |
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Total |
|
10000 |
As on 30.09.2011
|
Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
|
100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Rotational Moulding Machinery. |
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Products : |
·
Rotational Molding Machine ·
Molds ·
Pulverizers ·
Plastic
Processing Machinerry ·
Extruders ·
Storage
Systems |
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Exports : |
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Products : |
Rotational Moulding Machinery. |
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Countries : |
·
·
·
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Terms : |
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Selling : |
L/C, Cash and
Credit |
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Purchasing : |
L/C, Cash and
Credit |
GENERAL INFORMATION
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Suppliers : |
ABB Motors |
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Customers : |
End Users ·
Syntex |
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No. of Employees : |
30 (Approximately) |
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Bankers : |
·
Indian Overseas Bank, Mehta Pole, Near Mandvi,
Vadodara – 390 006, ·
Kotak Mahindra Bank, Branch Main Vadodara |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Shah Sanghvi and Company Chartered Accountants |
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Address : |
2, “Samarpan”, 26, Haribhakti Colony, |
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PAN No.: |
AITPS7518Q |
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Associates/Subsidiaries : |
Shree Momai Fabricator Engineers Legal Form: Sole Proprietory Concern Name of the Proprietor: Ms. Ranjan
Iyer |
CAPITAL STRUCTURE
As on 30.09.2011
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 |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
million |
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 |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1.762 |
1.331 |
0.321 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.862 |
1.431 |
0.421 |
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LOAN FUNDS |
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1] Secured Loans |
3.281 |
1.211 |
4.396 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.898 |
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TOTAL BORROWING |
3.281 |
1.211 |
5.294 |
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DEFERRED TAX LIABILITIES |
0.655 |
0.564 |
0.256 |
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TOTAL |
5.798 |
3.206 |
5.971 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
6.545 |
6.514 |
6.252 |
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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 |
6.452
|
5.581 |
8.795 |
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Sundry Debtors |
1.904
|
1.284 |
0.235 |
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Cash & Bank Balances |
0.379
|
0.104 |
0.060 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
3.461
|
2.542 |
1.282 |
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Total
Current Assets |
12.196
|
9.511 |
10.372 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
5.512
|
5.655 |
2.977 |
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Other Current Liabilities |
7.179
|
6.896 |
7.654 |
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Provisions |
0.252
|
0.268 |
0.022 |
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Total
Current Liabilities |
12.943
|
12.819 |
10.653 |
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Net Current Assets |
(0.747)
|
(3.308) |
(0.281) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
5.798 |
3.206 |
5.971 |
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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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SALES |
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Income |
25.842 |
25.163 |
10.475 |
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Other Income |
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|
0.039 |
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TOTAL (A) |
25.842 |
25.163 |
10.514 |
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Less |
EXPENSES |
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Raw Material Consumed |
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|
12.915 |
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Manufacturing and other Expenses |
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|
1.490 |
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Employee Cost |
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|
0.920 |
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Administrative Expenses |
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|
3.008 |
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Increased / Decreased in Stock |
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(8.300) |
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TOTAL (B) |
25.189 |
23.574 |
10.033 |
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Less |
PROFIT/(LOSS)
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
(Including
Financial Expenses and Depreciation) |
(Including
Financial Expenses and Depreciation) |
0.481 |
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Less |
FINANCIAL
EXPENSES (D) |
|
|
0.321 |
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PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION
(C-D) (E) |
|
|
0.160 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
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|
0.244 |
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PROFIT/(LOSS)
BEFORE TAX (E-F) (G) |
0.653 |
1.589 |
(0.084) |
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Less |
TAX (H) |
0.222 |
0.579 |
0.411 |
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PROFIT/(LOSS) AFTER TAX (G-H) (I) |
0.431 |
1.010 |
(0.495) |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1.330 |
0.320 |
0.815 |
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BALANCE CARRIED
TO THE B/S |
1.761 |
1.330 |
0.320 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
NA |
NA |
8.034 |
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TOTAL EARNINGS |
NA |
NA |
8.034 |
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Earnings Per
Share (Rs.) |
43.10 |
101.00 |
(49.51) |
|
Expected Sales (2011-2012) : Rs.70.000 millions
The above information has been parted by Mrs. Ranjan Ramchandran Iyer
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.67
|
4.01
|
(4.71)
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Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA
|
(0.80)
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.48
|
9.92
|
(0.51)
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Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
1.11
|
(0.20)
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Debt Equity Ratio (Total Liability/Networth) |
|
8.71
|
9.80
|
37.88
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Current Ratio (Current Asset/Current Liability) |
|
0.94
|
0.74
|
0.97
|
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
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|
1. |
Year of Establishment |
YES |
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2. |
Locality of the firm |
YES |
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3. |
Constitutions of the firm |
YES |
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4. |
Premises details |
YES |
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5. |
Type of Business |
YES |
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6. |
Line of Business |
YES |
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7. |
Promoter’s background |
-- |
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8. |
No. of employees |
YES |
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9. |
Name of person contacted |
YES |
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10. |
Designation of contact person |
YES |
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11. |
Turnover of firm for last two years |
YES |
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12. |
Profitability for last three years |
-- |
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13. |
Reasons for variations <> 20% |
-- |
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14. |
Estimation for coming financial year |
YES |
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15. |
Capital in the business |
YES |
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16. |
Details of sister concerns |
YES |
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17. |
Major Suppliers |
YES |
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18. |
Major Customers |
YES |
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19. |
Payment terms |
YES |
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20. |
Export / Import details (is applicable) |
YES |
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21. |
Market information |
-- |
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22. |
Litigation that the firm / promoter involved
in |
-- |
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23. |
Banking Details |
YES |
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24. |
Banking facility details |
-- |
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25. |
Conduct of the banking account |
-- |
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26. |
Buyer visit
details |
-- |
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27. |
Financials, if provided |
NO |
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28. |
Incorporation details, if applicable |
-- |
|
29. |
Last accounts filed at ROC |
-- |
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30. |
Major Shareholders, is available |
-- |
FINANCIAL RESULTS /
OPERATIONS
During the year, the total income of the company was Rs.25.842 millions (Previous Year Rs.25.163 millions). The Profit after tax for the year was Rs.0.431 million (Previous Year Rs.1.010 millions).
FORM 8
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90104287 |
|
Corporate
identity number of the company |
U25209GJ2004PTC043497 |
|
Name of the
company |
SHREE MOMAI ROTOCAST CONTAINERS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
311/A/16, Kalpana Society, |
|
Type of charge |
·
Book
Debts ·
Movable
Property ·
Floating
Charge |
|
Particular of
charge holder |
Indian Overseas Bank, Mehta Pole, Near Mandvi, Vadodara – 390 006, E-Mail: brdambr@barsco.iobnet.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Letter of
Hypothecation (For securing Machineries/ Vehicles/ Goods/ Book debts) dated
27.12.2008. |
|
Date of
instrument Creating the charge |
27.12.2008 |
|
Amount secured by
the charge |
Rs.5.800 millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
Packing Credit – BPLR – 3% presently 10.25% Foreign Bill
Discounting Limit – BPLR – 3% presently 10.25% Terms of
Repayment: Adhoc Limit Margin: Packing
Credit – 25% on FOB Value Extent and Operation
of the charge: First charge by way of extension of Hypothecation for the
repayment to the bank of all monies including the principal sums, interest,
cost, charges, expenses and other monies payable from time to time and that
all rights, remedies, terms, conditions to be observed by the company shall
extent to total facility of Rs.5.800 millions. |
|
Short particulars
of the property charged |
First charge by
way of Hypothecation on all tangible movable machineries and plants (both
present and future), all tangible movable properties, assets and stocks,
vehicles, fixed assets and all present and future book debts, outstanding,
money receivables, claims, bills etc. |
|
Particulars of
the present modification |
Original Charge
created for Rs.4.000 millions is modified in view of granting of additional
credit facilities to the extent of Rs.1.800 million thus securing the
aggregate facilities amounting to Rs.5.800 millions granted by the Bank. |
TRADE REFERNECES
·
Syntex
·
ABB Motors
FIXED ASSETS
·
Land
·
·
Plant and Machinery
·
Moulds
·
Computer
·
Motor Cars
·
·
Activa Scooter
·
Furniture and Fixtures
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 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.52.72 |
|
|
1 |
Rs.82.71 |
|
Euro |
1 |
Rs.68.90 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
27 |
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.