MIRA INFORM REPORT

 

 

Report Date :

24.12.2011

 

IDENTIFICATION DETAILS

 

Name :

TOSHCON INDUSTRIES PRIVATE LIMITED

 

 

Registered Office :

401, Manish Chembers, Sonawala Cross Lane, Goregaon (East), Mumbai – 400063, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

07.08.2006

 

 

Com. Reg. No.:

11-163604

 

 

Capital Investment / Paid-up Capital :

Rs.0.600 Million

 

 

CIN No.:

[Company Identification No.]

U74999MH2006PTC163604

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMT13668E

 

 

PAN No.:

[Permanent Account No.]

AACCT5479P

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of laboratory instrument, scientific goods, conductivity meter etc.

 

 

No. of Employees :

Not Available

 

 

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

 

Maximum Credit Limit :

USD 25000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

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)

India

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 :

401, Manish Chembers, Sonawala Cross Lane, Goregaon (East), Mumbai – 400063, Maharashtra, India

Tel. No.:

91-22-26864064 / 26864065

Fax No.:

91-22-26862219

E-Mail :

info@toshcon.com

contact@toshcon.com

Mumbai@toshcon.com

Website :

www.toshcon.com

 

 

Factory :

E-59, Industrial Area, Haridwar, Uttarakhand, India

Tel. No.:

91-1334-266497

Fax No.:

91-1334-266498

 

 

DIRECTORS

 

As on 30.09.2011

 

Name :

Mr. Ravi Toshniwal

Designation :

Director

Date of Appointment :

01.04.2009

DIN No.:

00421689

 

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

U65990MH1979PTC021556

Toshniwal Instruments Manufacturing Private Limited

Director

14/08/1979

14/08/1979

-

Active

NO

2

U33130MH1980PTC023419

Toshniwal Process Instruments Private Limited

Managing director

5/11/1980

5/11/1980

-

Active

NO

3

U33129MH1993PTC070667

Toshcon Jesco (India) Private Limited

Managing director

4/2/1993

4/2/1993

-

Active

NO

4

U74999MH2006PTC163604

Toshcon Industries Private Limited

Director

30/09/2009

1/4/2009

-

Active

NO

5

U32200MH2009PTC197386

Toshcon Cd Automation ( India) Private Limited

Director

27/11/2009

27/11/2009

-

Active

NO

 

Name :

Mr. Abhishek Ravi Toshniwal

Designation :

Director

Date of Appointment :

07.08.2006

DIN No.:

00345805

 

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

U33130MH1980PTC023419

Toshniwal Process Instruments Private Limited

Director

1/9/1988

1/9/1988

-

Active

NO

2

U65990MH1979PTC021556

Toshniwal Instruments Manufacturing Private Limited

Managing director

1/4/2001

1/4/2001

-

Active

NO

3

U74999MH2006PTC163604

Toshcon Industries Private Limited

Director

7/8/2006

7/8/2006

-

Active

NO

4

U33129MH1993PTC070667

Toshcon Jesco (India) Private Limited

Director

14/04/2009

14/04/2009

-

Active

NO

5

U32200MH2009PTC197386

Toshcon Cd Automation ( India) Private Limited

Director

27/11/2009

27/11/2009

-

Active

NO

 

Name :

Mrs. Purnima Ravi Toshniwal

Designation :

Director

Date of Appointment :

07.08.2006

DIN No.:

00345817

 

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

U65990MH1979PTC021556

Toshniwal Instruments Manufacturing Private Limited

Director

14/08/1979

14/08/1979

-

Active

NO

2

U74999MH2006PTC163604

Toshcon Industries Private Limited

Director

7/8/2006

7/8/2006

-

Active

NO

 

 

Name :

Mrs. Shruti Toshniwal

Designation :

Director

Date of Appointment :

01.04.2009

DIN No.:

02636019

 

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2011

 

Names of Shareholders

 

No. of Shares

Pushpa Toshniwal

 

300

Ravi Toshniwal

 

1620

Ravi Toshniwal (HUF)

 

180

Purnima Toshniwal

 

1620

Abhishek Toshniwal

 

1620

Abhishek Toshniwal (HUF)

 

180

Shruti Toshniwal

 

480

Total

 

6000

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of laboratory instrument, scientific goods, conductivity meter etc.

 

 

Products :

Product Description

ITC Code

pH electrodes, pH Meter, Conductivity Meters and accessories etc.

9027.00

Ultrasonic cleaners and systems

8479.89

 

PRODUCTION STATUS (As on 31.03.2010)

 

Licensed Capacity: Not Applicable

 

Installed Capacity:

Particulars

Unit

Nos.

pH electrodes and accessories etc

25000

pH Meter, Conductivity Meters and accessories etc.

10500

Ultrasonic cleaners, Systems etc

1500

Generator for Ultrasonic Cleaners and etc

1500

Dosing / Metering Pumps

15000

Multiparameter Instruments/ Meter for  PH/ Conductivity/ Dissolved Oxygen/Ion with Respective Electrodes and All Related  Accessories

1500

Multiparameter Instruments/ Meter for

PH / Conductivity / Dissolved Oxygen with Respective Electrodes and A11 Related Accessories

2000

Multiparameter Instruments/ Meter for PFV Conductivity with Respective Electrodes and All Related Accessories

2000

 


Production:

 

Particulars

Unit

Nos.

pH electrodes and accessories

7245

pH Meter electrodes and accessories

1183

Conductivity Meters with  accessories

160

Ultrasonic cleaners, Systems etc

NIL

Conductivity Cells and Others

137

Dosing / Metering Pumps

10

Multiparameter Instruments/ Meter for  PH/ Conductivity with  Respective Electrodes and All Related  Accessories

3

Multiparameter Instruments/ Meter for  PH/ Conductivity with  Respective Electrodes and All Related  Accessories

3

Multiparameter Instruments/ Meter for

PH / Conductivity / Dissolved Oxygen with Respective Electrodes and A11 Related Accessories

3

Multiparameter Instruments/ Meter for  PH/ Conductivity/ Dissolved Oxygen/Ion with Respective Electrodes and All Related  Accessories

1

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

GENERAL INFORMATION

 

No. of Employees :

Not Available

 

 

Bankers :

 

 

Facilities :

Secured Loan

As on

31.03.2010

(Rs. in

Millions)

As on

31.03.2009

(Rs. in

Millions)

Secured Loans

0.475

0.597

Total

0.475

0.597

 

 

 

Unsecured Loan

As on

31.03.2010

(Rs. in

Millions)

As on

31.03.2009

(Rs. in

Millions)

Loan from Directors and shareholders

0.300

0.300

Total

0.300

0.300

 

 

 

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

G M Jain and Associates

Chartered Accountants

Address :

354/XI D H Building, Hathi Bhata, Tondon Gali, Ajmer – 305001, Rajasthan, India

PAN.:

AAGFG6615B

 

 

CAPITAL STRUCTURE

 

As on 31.03.2011

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

100000

Equity Shares

Rs.100/- each

Rs.10.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :           

No. of Shares

Type

Value

Amount

 

 

 

 

6000

Equity Shares

Rs.100/- each

Rs.0.600 Million

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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

0.600

0.600

0.600

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

5.543

4.258

2.826

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

6.143

4.858

3.426

LOAN FUNDS

 

 

 

1] Secured Loans

0.475

0.597

0.000

2] Unsecured Loans

0.300

0.300

2.069

TOTAL BORROWING

0.775

0.897

2.069

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

6.918

5.755

5.495

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

1.617

1.784

1.165

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.034

0.032

0.029

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
2.039

1.593

2.053

 

Sundry Debtors
3.992

2.470

1.721

 

Cash & Bank Balances
0.369

1.261

1.277

 

Other Current Assets
0.000

0.000

0.000

 

Loans & Advances
0.286

0.264

0.422

Total Current Assets
6.686

5.588

5.473

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
0.613

1.160

 

Other Current Liabilities
0.000

0.000

 

 

Provisions
0.847

0.570

 

Total Current Liabilities
1.460

1.730

1.294

Net Current Assets
5.226

3.858

4.179

 

 

 

 

MISCELLANEOUS EXPENSES

0.041

0.081

0.122

 

 

 

 

TOTAL

6.918

5.674

5.495

 

 

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2011

31.03.2010

31.03.2009

 

SALES

 

 

 

 

 

Income

13.808

 

 

Other Income

NA

 

 

 

 

TOTAL                                    

NA

11.351

5.030

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Office Expenses

 

 

Administrative Expenses

 

 

 

 

 

Advertising Expenses

 

 

 

 

 

TOTAL                                    

0.350

(Including Depreciation)

9.194

(Including Depreciation)

2.884

(Including Depreciation)

 

 

 

 

 

 

PROFIT BEFORE TAX

2.443

2.157

2.146

 

 

 

 

 

Less

TAX                                                                 

0.461

0.376

0.246

 

 

 

 

 

 

PROFIT AFTER TAX

1.982

1.781

1.900

 

 

 

 

 

Less

APPROPRIATIONS

 

 

 

 

 

Proposed Dividend

0.600

 

 

Corporate Dividend Tax

0.097

NA

NA

 

 

General Resave

0.600

 

 

 

BALANCE CARRIED TO THE B/S

 

 

 

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Raw Materials

NA

0.396

0.152

 

TOTAL IMPORTS

NA

0.396

0.152

 

 

 

 

 

 

Earnings Per Share (Rs.)

330.33

296.86

316.71

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2011

31.03.2010

31.03.2009

PAT / Total Income

(%)
NA

15.69

37.77

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
17.69

NA

NA

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
29.42

29.26

32.33

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.40

0.44

0.63

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
0.36

0.54

0.98

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
4.58

3.23

4.23

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

FINANCIAL RESULTS:

 

The overall working for the accounting year 1st April, 2010 to 31st March, 2011 after charging all expenses including depreciation of Rs.0.350 Million has resulted in a profit of Rs.2.443 Millions before taxation and after providing for Income Tax Mat taxation to the tune of Rs.0.460 Million Short Provision of Income Tax Rs.0.001Million and addition of balance of previous year Rs.2.658 Millions the total available amount of Rs.4.640 Millions.

 

SALES:

 

Sales during the year has been increased to Rs.13.808 Millions for the accounting year 1St April 2010 to 31st March 2011 from Rs.11.346 Millions for the previous accounting year ended on 31st March, 2010

 

FIXED ASSETS (As on 31.03.2010):

 

  • Plant and Machinery
  • Office Equipment
  • Factory Equipment
  • Laboratory Equipment
  • Tools Jigs and Fixtures
  • Electrical Installing
  • Computer
  • Furniture
  • Wooden Partition
  • Vehicle - Linea Car 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.52.72

UK Pound

1

Rs.82.70

Euro

1

Rs.68.90

 

 

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

NO

--AFFILIATION

YES/NO

NO

--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

-

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.