MIRA
INFORM REPORT
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Report Date : |
04.07.2011 |
IDENTIFICATION DETAILS
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Name : |
RAJ PROCESS EQUIPMENTS AND SYSTEMS PRIVATE LIMITED |
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Registered Office : |
Plot No.167, Sector -7, PCNTDA, Bhosari, Pune – 411 026, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
07.02.2003 |
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Com. Reg. No.: |
25-17672 |
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Capital Investment / Paid-up Capital : |
Rs.15.000 Millions |
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CIN No.: [Company
Identification No.] |
U29299PN2003PTC017672 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PNER06704F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer , Exporter and Importer of Engineering goods and
Equipments |
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No. of Employees : |
200 Approximately |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (44) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 350000 |
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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 a well established and a reputed 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 good for normal 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 – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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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 : |
Mr. Sagar K |
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Designation : |
Marketing Engineering |
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Contact No.: |
91-9860001144 |
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Date : |
27.06.2011 |
LOCATIONS
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Registered office / Factory 1: |
Plot No.167, Sector -7, PCNTDA, Bhosari, Pune – 411 026, |
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Tel. No.: |
91-20-27119973 / 24145 / 27124177 / 27124876 |
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Mobile No.: |
91-9860001144 (Mr. Sagar K) |
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Fax No.: |
91-20-4071009 |
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E-Mail : |
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Website : |
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Location : |
Rented |
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Factory 2: |
Sr. No. 373, Village
Kharabwadi, Chakan, Tal. Khed, Dist. |
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Tel. No.: |
91 - 2135 – 252251/255654 |
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Marketing Representatives: |
Secundrabad 3-42-25, Samrat Colony,
West Marredapally, Secundrabad- 500 026, No. 29 A, 1st floor,
Jalan Timun 24/C, 40300 Shah Alam, Selangor, Darul, Eshan, Malaysia. Chennai No. 17, Anna Commercial
Complex, Gowriwakkan, Chennai 601 073, No. 29 A, 1st floor,
Jalan Timun 24/C, 40300 Shah Alam, Selangor, Darul, Eshan, Malaysia. ED - 55, Tel No.: 91 - 11 - 25460255 |
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Head office : |
Jai Ganesh Vision, B Wing, 3rd Floor, Akurdi, Pune –
411035, |
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Tel. No.: |
91-20-40710010/40710005/40710011/27122145/27119973/27124876 |
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Fax No.: |
91-20-40710009 |
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E-Mail : |
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Location : |
Owned |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. Anilraj Vasant Pise |
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Designation : |
Managing Director |
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Address : |
Flat No.4, Murlidhar Apartments, 370, Shaniwar Peth, Pune – 411030, |
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Date of Birth/Age : |
18.06.1974 |
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Date of Appointment : |
07.02.2004 |
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DIN No. : |
00324870 |
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Name : |
Mr. Vasant Eknath Pise |
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Designation : |
Director |
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Address : |
C/O Eknath Pise, At / post Varkute Malwadi, Man, Satara – 415509, |
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Date of Birth/Age : |
01.10.1943 |
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Date of Appointment : |
07.02.2004 |
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Name : |
Mr. Vijayraj Vasant Pise |
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Designation : |
Director |
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Address : |
Flat No.4, Murlidhar Apartments, 370, Shaniwar Peth, Pune – 411030, |
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Date of Birth/Age : |
03.06.1972 |
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Date of Appointment : |
13.07.2005 |
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DIN No. : |
00349645 |
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Name : |
Mr. Mohan Govind Choudhari |
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Designation : |
Director |
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Address : |
201, Viola Survey No. 118/C-5, Near Cipla Foundation, Warje, Pune –
411051, |
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Date of Birth/Age : |
18.11.1973 |
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Date of Appointment : |
06.11.2005 |
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Name : |
Mr. Yogesh Kamre |
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Designation : |
Director |
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Date of Birth/Age : |
29 years |
KEY EXECUTIVES
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Name : |
Mr. Sagar Kolhe |
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Designation : |
Engineer - Marketing |
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Name : |
Mr. Manish Athavale |
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Designation : |
Marketing Sales Engineer |
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Mobile No : |
91-9766441144,9860001144 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Anilraj Vasant Pise |
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825045 |
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Vasant Eknath Pise |
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225045 |
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Vijayraj Vasant Pise |
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449910 |
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Total |
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1500000 |
Equity Share Breakup (As on 30.09.2010)
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Particulars |
Percentage |
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Directors and relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer , Exporter and Importer of Engineering goods and
Equipments |
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Products : |
·
Dryers: Spray Dryer, Flash Dryer (Spin Flash Dryer and Cage Mill Flash Dryer),
Rotary Dryer, Calciner, Continuous Fluid Bed Dryer, Paddle Dryer, etc. · Evaporators: Agitated Thin Film Evaporator, Falling Film Evaporator, Forced Circulation Evaporator, etc. · Mixers: Cone Screw Mixer (Nauta Mixer), Plough Shear Mixer, Conical Blender, Double Cone Blender, Ribbon Blender, Paddle Mixer, etc. · Heat Transfer Equipment - Heat Exchanger, Hot Air Generator, etc. ·
Agitators ·
Auto
Weighing and Batching Systems · Coded Vessels - Pressure Vessels, Storage Tanks, Reactors, etc. ·
Storage
Silos |
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Exports : |
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Products : |
Engineering Goods and Equipments |
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Countries : |
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·
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit (30 Days) |
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Purchasing : |
L/C, Cash and Credit (30 Days) |
GENERAL INFORMATION
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Customers : |
·
End Users ·
OEM’s |
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No. of Employees : |
200 Approximately |
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Bankers : |
The Saraswat Co – Operative Bank Limited C-2, Kohinoor Estate Co-Operative Housing Society, Plot No.12, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
M M Sancheti and Company Chartered Accountant |
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Address : |
273, Sudarshan Apartment, Shridhar Nagar, Chinchwad, Pune – 411 033, |
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Associates/Subsidiaries : |
Raj Industries Address : 166, Sector 7, Bhosari, Pune – 26, |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000
Millions |
After 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4200000 |
Equity Shares |
Rs.10/- each |
Rs.42.000
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
15.000 |
10.000 |
10.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
72.073 |
57.882 |
50.218 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
87.073 |
67.882 |
60.218 |
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LOAN FUNDS |
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1] Secured Loans |
72.178 |
50.804 |
35.090 |
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2] Unsecured Loans |
5.006 |
4.400 |
6.441 |
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TOTAL BORROWING |
77.184 |
55.204 |
41.531 |
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DEFERRED TAX LIABILITIES |
0.744 |
0.743 |
0.740 |
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TOTAL |
165.001 |
123.829 |
102.489 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
91.884 |
93.654 |
84.173 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.025 |
0.025 |
0.025 |
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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 |
68.985
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53.654
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51.811
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Sundry Debtors |
115.449
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30.906
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13.719
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Cash & Bank Balances |
8.642
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1.813
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1.538
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Other Current Assets |
0.000
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0.000
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0.000
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Loans & Advances |
13.469
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5.921
|
4.733
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Total
Current Assets |
206.545
|
92.294
|
71.801 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
95.916
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44.383
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31.129
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Other Current Liabilities |
29.104
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12.718
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20.176
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Provisions |
8.433
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5.043
|
2.205
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Total
Current Liabilities |
133.453
|
62.144
|
53.510
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Net Current Assets |
73.092
|
30.150
|
18.291
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
165.001 |
123.829 |
102.489 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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TURNOVER |
211.999 |
158.198 |
80.935 |
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EXPENDITURE |
231.850 |
145.422 |
NA |
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PROFIT BEFORE
TAX (E-F) |
22.625 |
12.776 |
78.095 |
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Less |
TAX |
20.832 |
5.112 |
2.205 |
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PROFIT AFTER TAX
(G-H) |
1.793 |
7.664 |
75.890 |
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Earnings Per
Share (Rs.) |
1.19 |
7.66 |
-- |
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Particulars |
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31.03.2011 |
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Sales Turnover |
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|
400.000 |
The above information has been parted by Mr. Sagar K
KEY RATIOS
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PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
7.58
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6.87
|
50.07
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Return on Investment (ROI) (PBT/Networth) |
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0.26
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0.19
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1.30
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Debt Equity Ratio (Total Liability/Networth) |
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2.42
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1.73
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1.58
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Current Ratio (Current Asset/Current Liability) |
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1.55
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1.49
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1.34
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LOCAL AGENCY FURTHER INFORMATION
NOTE
The Registered Office of the company has been shifted from 370 Muralidhar
Apartments, Shaniwar Peth, Pune – 411 030,
TRADE REFERENCE
· Monex Systems Limited
FIXED ASSETS
·
·
Office Premises
·
·
Electrical Installation
·
Plant and Machinery
·
Computers
·
Office Equipments
·
Furniture and Fixture
·
Vehicle – Starbus
FORM 8
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This form is for |
Creation of charge |
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Corporate identity number of the company |
U29299PN2003PTC017672 |
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Name of the company |
RAJ PROCESS EQUIPMENTS AND SYSTEMS PRIVATE LIMITED |
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Address of the registered office or of the principal place of business in |
Plot No.167, Sector -7, PCNTDA, Bhosari, Pune – 411 026, |
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Type of charge |
Immovable property |
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Particular of charge holder |
The Saraswat Co – Operative Bank Limited C-2, Kohinoor Estate Co-Operative Housing Society, Plot No.12, |
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Nature of description of the instrument creating or modifying the
charge |
Equitable mortage by deposit of original title deed dated 5th may 2011 |
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Date of instrument Creating the charge |
05.05.2011 |
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Amount secured by the charge |
Rs.22.400 millions |
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Brief particulars of the principal terms an conditions and extent and operation
of the charge |
Rate of interest At par with Plr = 14.00% p.a with monthly rests, or at such rates as
may be prescribed in future by bank from time to time. Terms of repayment Term loans to be repaid within 60 months from the date of disbursements
as under 1) 59 monthly installments of Rs.0.374 million each 2) 1 installment of Rs.0.334 millions Margin 25% Of immovable properties Extent and operation of the charge Type of Facility :- Term Loan I Others All other terms and conditions as per the agreement. Gat no 373 (old survey no 2907) lying and situated at village
Kharabwadi Tal Khed dist Pune (this property is provided as prime security
for this term loan limit) |
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Short particulars of the property charged |
A) All that piece and parcel of land admeasuring 1 H 15 r i.e. 3.12.5
acre out of Gat No 373 (old survey no 2907) lying and situated at village
Kharabwadi Tal Khed Dist Pune B) All that piece and parcel of plot bearing no 167 admeasuring 1035
sq. mtrs together with construction raised/ to be raised thereon out of
sector no 7, PCNTDA, lying and situated at Village Bhosari, Tal Haveli Dist Pune C) All the piece and parcel of office no. 330(p),331,332,333,
334,339,340 and 341 totally admeasuring about 2180 sq fts. i.e 202.51 sq.
mts. carpet, on third floor, building no. b wing no. R-2, in Jai Ganesh Vision, Survey No. 171/a1, 171/b, 172/2,
having corresponding cts no. 4487, lying and situated at Village Akrudi, Tal-
Haveli, Dist Pune and within the limits of Pimpri Chinchwad Municipal Corporation And Registration District Pune,
sub- district Tal Haveli, together with all the easementary rights , legal
rights and all the fsi as available. d) all that piece and parcel of plot bearing no 166 admeasuring 1034
sq. mtrs together with construction raised/ to be raised thereon out of
sector no 7, pcntda, lying and situated at village bhosari, Tal Haveli Dist Pune. together with all the easementary rights , legal rights and all the
fsi as available. |
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.44.59 |
|
|
1 |
Rs.71.75 |
|
Euro |
1 |
Rs.64.80 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
44 |
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.