MIRA
INFORM REPORT
|
Report Date : |
26.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
NISIKI INDIA PRIVATE LIMITED (w.e.f. 20.02.2007) |
|
|
|
|
Formerly Known
As : |
NISIKI BEARINGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Silvistan Apartment, 1st Floor, Muerine Street, M G Road,
Kandivali West, Mumbai – 400067, Maharashtra |
|
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|
Country : |
|
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|
|
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Financials (as
on) : |
31.03.2011 (Provisional) |
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|
|
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Date of
Incorporation : |
26.05.1992 |
|
|
|
|
Com. Reg. No.: |
11-066926 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.363
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29130MH1992PTC066926 |
|
|
|
|
IEC No.: |
0393017958 |
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|
|
|
PAN No.: [Permanent Account No.] |
AAACN3435D |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Trading in Ball Bearings, Load Cell, Fan Motors and Other
Electromechanical Products. (Consultancy Services) |
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|
|
|
No. of Employees
: |
89 – Approximately (Office – 19 and Branch – 70) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The valuation
report and networth statement provided seems to be old. In absence of latest
documents, we were unable to comment on current status of the company.
However, trade relations are reported as fair. Business is active. Payment
terms are unknown. It would be advisable to take adequate securities while dealing with
the subject. |
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
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
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|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Umakant K. Bhise |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-9869712549 |
|
Date : |
20.07.2011 |
LOCATIONS
|
Registered Office : |
Silvistan Apartment, 1st Floor, Muerine Street, M G Road, Kandivali
West, Mumbai – 400067, Maharashtra, India |
|
Tel. No.: |
91-22-28054251/ 28082131/ 28054417/ 28649748/ 28651999/ 28650999 |
|
Mobile No.: |
91-9869712549 (Mr. Umakant K. Bhise) |
|
Fax No.: |
91-22-28634478 |
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E-Mail : |
|
|
Website : |
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|
Area : |
550 Sq. Ft. |
|
Location : |
Rented |
|
|
|
|
Branch Office : |
Building No.12, G No.10, Ground Floor, Arihant Complex, Near Koper Bus
stop, Puna Village, Tal. Bhiwandi – 421302, Maharashtra, India |
|
Tel. No.: |
91-2522-273518 |
|
Area : |
1650 + 850 sq. ft. |
|
Location : |
Rented |
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|
|
|
Branch Office : |
Located at: · Ahmedabad · Bangalore · Chennai · Secunderabad · New Delhi · Pune · Indore · Goa · Coimbatore |
DIRECTORS
(AS ON 24.09.2010)
|
Name : |
Mr. Shrikant Mohan Gholba |
|
Designation : |
Director |
|
Address : |
201/202, Cascade Phase 1, Raheja Complex, Kulup Wadi Road, Borivali
(East), Mumbai – 400066, Maharashtra, India |
|
Date of Birth/Age : |
02.12.1960 |
|
Qualification : |
B. Tech, MMM (Level 1) |
|
Experience : |
20 years |
|
Date of Appointment : |
07.09.1992 |
|
|
|
|
Name : |
Mr. Yusuf Fazle Husain Manasawala |
|
Designation : |
Director |
|
Address : |
1603, Sagar Classic, 64 Mirza Galib Road, Mumbai – 400008,
Maharashtra, India |
|
Date of Birth/Age : |
12.04.1951 |
|
Date of Appointment : |
12.12.2005 |
|
|
|
|
Name : |
Mr. Mohammedi Fazle Husain Manasawala |
|
Designation : |
Director |
|
Address : |
House 21-A, Nallur Road, Singapore – 456641 |
|
Date of Birth/Age : |
17.09.1959 |
|
Date of Appointment : |
12.12.2005 |
|
|
|
|
Name : |
Dr. Uma Shrikant Gholba |
|
Designation : |
Director |
|
Address : |
201/202, Cascade Phase 1, Raheja Complex, Kulup Wadi Road, Borivali
(East), Mumbai – 400066, Maharashtra, India |
|
Date of Birth/Age : |
13.10.1963 |
|
Qualification : |
MBBS, DPH, DHA |
|
Experience : |
16 years |
|
Date of Appointment : |
12.12.2005 |
KEY EXECUTIVES
|
Name : |
Mr. Umakant K. Bhise |
|
Designation : |
Finance Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 24.09.2010)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Jayashree V. Belandor |
|
50 |
|
Shrikant Mohan Gholba |
|
1561 |
|
Dr. Uma S. Gholba |
|
276 |
|
Ajay V. Bane |
|
14 |
|
Vittal Belandor |
|
200 |
|
Vijay Mamnia |
|
12 |
|
Suhas Joshi |
|
1 |
|
V. Balagi |
|
1 |
|
Waman Balagi |
|
1 |
|
Mohammedi Fazle Husain Manasawal |
|
850 |
|
Sakina Y. Manasawala and Yusuf F. Manasawala |
|
551 |
|
Yusuf F. Manasawala and Sakina Y. Manasawala |
|
68 |
|
Moiz Y. Manasawala and Yusuf F. Manasawala |
|
20 |
|
Yusuf F. Manasawala |
|
06 |
|
Dr. Uma S. Gholba Shrikant M. Gholba |
|
10 |
|
|
|
|
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Total |
|
3621 |
(AS ON 30.09.2010)
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
92.00 |
|
Other |
|
8.00 |
|
|
|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading in Ball Bearings, Load Cell, Fan Motors and Other
Electromechanical Products. (Consultancy Services) |
|
|
|
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Products : |
· Bearings · Loadcells · Commutators · Motors · Hub Bearings · Thermostats · Water Pump Bearings · Thermal Overload Protectors · Bearing Uni · Centnfugal Fans · Axial Fans |
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Imports : |
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Products : |
· Bearings · Loadcells · Commutators · Motors · Hub Bearings · Thermostats · Water Pump Bearings · Thermal Overload Protectors · Bearing Uni · Centnfugal Fans · Axial Fans |
|
Countries : |
· China |
|
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Terms : |
|
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Selling : |
Credit (30-90 days) |
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Purchasing : |
Credit (30 days) |
GENERAL INFORMATION
|
Customers : |
OEM’s · Larsen and Toubro Limited · Portescap (A Danaher Motion Company) · Lucas TVS Limited · Piaggio Vehicles Private Limited · Rane Trw Steering Systems Limited · JKM Daerim Auto Limited · Kinetic Engg. Limited · Kurushetra Automobiles Private Limited · Rasandik Engg Ind. India Limited, Noida · Kurushetra Automobiles Limited, Kurushetra · JS Auto Private Limited, Kanpur · Kranti Automobiles Limited, Haridwar · IFB Group · Kirloskar Pump · Himson Textiles Engg. India Private Limited · Bajaj Auto Limited · Telco (Taco) · Bharat Earth Movers Limited · TVS - Suzuki · WEP Peripherals Limited · Siemens · Xyrix Electronics Private Limited (Minebea Shanghai) · Emerson Network Power India Private Limited · Prosound Products · Sansui Electronics · Nitiraj Engineers Private Limited · Conweigh Electronics · Leotronic Scales · Kulkarni Power Tools Limited · Kirloskar Toyoda · General Motors · Maini Materials Movements Private Limited · Spectra Motors · Tata Consultancy Services · Alidhra Group · Reliance Industries Limited. ·
Ballarpur Industries Private Limited · Ultra Tech · Telcon |
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No. of Employees : |
89 – Approximately (Office – 19 and Branch – 70) |
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Bankers : |
· Corporation Bank Kandivali West Branch, Turakhia Park, M G Road, Kandivali West, Mumbai
– 400067, Maharashtra, India · HDFC Bank Limited · Kotak Mahindra Bank Limited · Citi Bank · ABN Amro Bank · Barclays Bank PLC |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
S. Ramanand Aiyer and Company Chartered Accountant |
|
Address : |
501/502, 5th Floor, Umerji House, Next to Crescent Plaza,
Opposite Imperial Hotel, Telli Gully, Andheri (East), Mumbai – 400069,
Maharashtra, India |
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Tel. No.: |
91-22-26820608/ 26820605/ 66845300 |
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Fax No.: |
91-22-26820274 |
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Email : |
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Website : |
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Subsidiaries Company : |
· Nisiki Engineering Limited U29130MH1999PLC118008 |
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Associates Companies : |
NMB SINGAPORE LIMITED # 1 Chai Chee Avenue, Singapore 469059 Tel. No.: 0065 6240 5394 Email: yldloh@minebea.com.sg HQ: Minebea Company Limited Meguro-ku, Tokyo, Japan KOYO SINGAPORE BEARIING (PTE) LIMITED 27, Penjuru Lane,
#09-01, C and P Logistics Hub 2, Singapore 609195 Tel. No.: 0065 6274 2200 Email: miranda@koyo.co.in HQ: JTEKT Corporation Osaka, Japan LIMFA PTE LIMITED 11, Telok Kurau Road, Singapore - 423761 Tel. No.: 0065 – 63452530 Fax No.: 0065 – 63453240 Email: mohammedi@limfa.com.sg CANAZZA AND C. SRL Via A. Gramsci 23, 13876 Sandigliano (BI) Italy. Tel. No. +39 015 691 188 Fax No. +39 015 691 605 Email : mauro.canazza@canazza.com LUCKY COMPONENTS (PRIVATE) LIMITED 328, V. P. Road, Opera House, Mumbai – 400004, Maharashtra,
India. Tel. No. +91 22 23811838 Fax No. +91 22 23811839 HP No. +91 98202 68303 Email: moiz@lc-pl.com LUCKY BEARING CENTRE 153, Narayan Dhuru Street, Mumbai 400 003, Maharashtra,
India. Tel. No.: +91 22 2340 0463 Fax No.: +91 22 2344 2603 Email: ym@lc-pl.com NISIKI
(S) PTE LIMITED No.60 Kaki Bukit Place, Eunos Techpark, # 01-19, Singapore
– 415979 Activity: Bearings, Loadcells, Commutators, Motors, Hub
Bearings, Thermostats, Water Pump Bearings, Thermal Overload Protectors,
Bearing Unit, Centnfugal Fans, Axial Fans, |
CAPITAL STRUCTURE
(AS ON 31.03.2011
– PROVISIONAL)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Share |
Rs.100/- each |
Rs.1.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3631 |
Equity Share |
Rs.100/- each |
Rs.0.363
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 (Provisional) |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
|
1] Share Capital |
0.363 |
0.362 |
0.327 |
0.327 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
30.517 |
24.560 |
19.853 |
17.589 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
30.880 |
24.922 |
20.180 |
17.916 |
|
|
LOAN FUNDS |
|
|
|
|
|
|
1] Secured Loans |
35.547 |
25.581 |
26.501 |
12.160 |
|
|
2] Unsecured Loans |
8.838 |
8.111 |
30.891 |
15.073 |
|
|
TOTAL BORROWING |
44.385 |
33.692 |
57.392 |
27.233 |
|
|
DEFERRED TAX LIABILITIES |
0.498 |
0.471 |
0.566 |
0.517 |
|
|
|
|
|
|
|
|
|
TOTAL |
75.763 |
59.085 |
78.138 |
45.666 |
|
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
9.979 |
4.971 |
5.813 |
6.029 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
INVESTMENT |
0.460 |
0.460 |
0.460 |
0.460 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
|
Inventories |
33.328
|
27.196 |
33.938 |
24.207 |
|
|
Sundry Debtors |
80.213
|
62.678 |
59.305 |
45.371 |
|
|
Cash & Bank Balances |
12.058
|
8.817 |
6.503 |
3.436 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
8.573
|
8.769 |
4.655 |
7.564 |
|
Total
Current Assets |
134.172
|
107.460 |
104.401 |
80.578 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
|
Sundry Creditor |
39.539
|
26.480 |
25.153 |
35.705 |
|
|
Other Current Liabilities |
23.552
|
21.891 |
6.977 |
3.941 |
|
|
Provisions |
5.758
|
5.435 |
3.291 |
1.755 |
|
Total
Current Liabilities |
68.849
|
53.806 |
35.421 |
41.401 |
|
|
Net Current Assets |
65.324
|
53.654 |
68.980 |
39.177 |
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.00 |
0.000 |
2.885 |
0.000 |
|
|
|
|
|
|
|
|
|
TOTAL |
75.763 |
59.085 |
78.138 |
45.666 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 (Provisional) |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
Income |
228.945 |
141.539 |
93.898 |
88.663 |
|
|
|
Other Income |
4.204 |
15.100 |
21.876 |
9.979 |
|
|
|
TOTAL (A) |
233.149 |
156.639 |
115.774 |
98.642 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
Cost of Goods Sold |
178.149 |
111.009 |
72.217 |
63.929 |
|
|
|
Administrative Expenses |
32.314 |
23.880 |
23.748 |
21.775 |
|
|
|
Selling and Distribution Expenses |
6.686 |
5.095 |
2.072 |
3.339 |
|
|
|
Loss on Sale of Fixed Assets |
0.000 |
0.000 |
0.066 |
0.057 |
|
|
|
TOTAL (B) |
217.149 |
139.984 |
98.103 |
89.100 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)
(C) |
16.000 |
16.655 |
17.671 |
9.542 |
|
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7.162 |
7.367 |
6.999 |
4.827 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
8.838 |
9.288 |
10.672 |
4.715 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.273 |
1.180 |
1.111 |
1.004 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
7.565 |
8.108 |
9.561 |
3.711 |
|
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.398 |
5.127 |
7.217 |
1.740 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
5.167 |
2.981 |
2.344 |
1.971 |
|
|
|
|
|
|
|
|
|
|
|
(Short)/ Excess
Provision for Tax |
0.722 |
0.000 |
(0.005) |
(1.523) |
|
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
17.133 |
14.835 |
13.171 |
13.323 |
|
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
|
Transfer to General Reserve |
0.000 |
0.600 |
0.600 |
0.600 |
|
|
|
Corporate Dividend Tax |
0.000 |
0.011 |
0.010 |
0.000 |
|
|
|
Proposed Dividend |
0.000 |
0.072 |
0.065 |
0.000 |
|
|
BALANCE CARRIED
TO THE B/S |
23.022 |
17.133 |
14.835 |
13.171 |
|
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
|
Commission Earnings |
NA |
6.909 |
21.443 |
4.069 |
|
|
TOTAL EARNINGS |
NA |
6.909 |
21.443 |
4.069 |
|
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
NA |
78.929 |
60.115 |
38.426 |
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1,423 |
823 |
718 |
604 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 (Provisional) |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.22
|
1.90 |
2.02 |
1.99 |
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.30
|
5.73 |
10.18 |
4.19 |
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.25
|
7.21 |
8.67 |
4.28 |
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.33 |
0.47 |
0.21 |
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.67
|
3.51 |
4.60 |
3.83 |
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.95
|
1.99 |
2.95 |
1.95 |
LOCAL AGENCY FURTHER INFORMATION
OPERATING STATEMENT
(RS.
IN MILLIONS)
|
PARTICULARS |
31-03-2011 |
31-03-2012 |
|
|
Provisional |
Projected |
|
|
|
|
|
1. GROSS SALES |
|
|
|
i) Domestic Sales |
228.347 |
350.000 |
|
ii) Export Sales |
0.598 |
5.000 |
|
iii) Sale for Goods lost in
Flood |
-- |
-- |
|
Total |
228.945 |
355.000 |
|
|
|
|
|
2. Less :
Excise Duty |
-- |
-- |
|
3. Net Sales
(1-2) |
228.945 |
355.000 |
|
|
|
|
|
3a. Operative Income |
4.204 |
3.900 |
|
|
|
|
|
3b.Total Income |
233.149 |
3,58.900 |
|
|
|
|
|
4. % rise
(+) or fall (-) in net sales as compared to last year |
61% |
53% |
|
|
|
|
|
5. COST OF SALES |
|
|
|
|
|
|
|
i) Raw
Material Consumption |
|
|
|
a) Imported*** |
139.623 |
216.550 |
|
b) Indigenous |
0.000 |
0.000 |
|
|
|
|
|
ii) Other Spares |
|
|
|
a) Imported |
0.000 |
0.000 |
|
b) Indigenous |
0.000 |
0.000 |
|
|
|
|
|
iii) Purchase of finished goods |
0.000 |
0.000 |
|
iv) Power and Fuel |
0.000 |
0.000 |
|
v) Direct Labour (Factory wages and salaries) |
0.000 |
0.000 |
|
vi) Other direct expenses |
44.658 |
69.296 |
|
vii) Depreciation |
1.273 |
1.928 |
|
|
|
|
|
SUB-TOTAL ( i to vii) |
185.554 |
287.774 |
|
|
|
|
|
viii) Add: Opening Work-in-Progress |
0.000 |
0.000 |
|
|
|
|
|
Sub
Total |
185.554 |
287.774 |
|
|
|
|
|
ix) Less :Closing Work-in-Progress |
0.000 |
0.000 |
|
|
|
|
|
x) Cost of
Production |
185.554 |
287.774 |
|
|
|
|
|
xi) Add Opening Finished goods |
27.196 |
33.328 |
|
|
|
|
|
xii) Less Closing Finished goods |
33.328 |
50.714 |
|
|
|
|
|
Cost of Sales |
179.422 |
270.388 |
|
|
|
|
|
GROSS PROFIT |
495.23 |
846.12 |
|
|
|
|
|
% To Sales |
21.63% |
23.83% |
|
|
|
|
|
6. Selling,
General and Administrative Expenses |
39.000 |
60.350 |
|
|
|
|
|
7.
SUB-TOTAL (5 + 6) |
218.422 |
330.738 |
|
|
|
|
|
8. Operating
profit before interest (3b- 7) |
14.727 |
28.162 |
|
|
|
|
|
9. Interest |
7.162 |
12.000 |
|
|
|
|
|
10.
Operating profit after interest (8- 9) |
7.565 |
16.162 |
|
|
|
|
|
11 i) Add : Other non-op Income |
|
|
|
a) Other Income |
(0.059) |
-- |
|
Sub-Total (Income) |
(0.059) |
-- |
|
|
|
|
|
iii) Net of other non -
Operating Income/ Expenses |
|
|
|
|
|
|
|
a) Loss on sale of fixed
Assets |
-- |
-- |
|
b) Preliminary Exp W/Off |
-- |
-- |
|
c) Others |
-- |
-- |
|
Sub-Total (Expenses) |
-- |
-- |
|
|
|
|
|
iii) Net of other non-operating income /expenses |
(0.059) |
- |
|
|
|
|
|
12. Profit before
tax/loss [ 10+11 (iii) ] |
7.506 |
16.162 |
|
|
|
|
|
13.
Provision for taxes |
2.339 |
5.657 |
|
|
|
|
|
14. Net
profit/ loss (12-13) |
5.167 |
10.505 |
|
|
|
|
|
Net Profit % |
2.26% |
2.96% |
|
|
|
|
|
15.
(a) Dividend paid |
0.072 |
0.073 |
|
(b) Preference dividend |
-- |
-- |
|
(c) Corporate tax on dividend |
0.011 |
0.011 |
|
(d) Tax on earlier years |
-- |
-- |
|
(d) Deferred Tax |
0.027 |
0.050 |
|
(e) Transfer to General Reserve |
2.400 |
5.000 |
|
|
|
|
|
16.
Retained profit (14-15) |
2.657 |
5.372 |
------------------------------------------------------------------------------------------------------------------------------
ANALYSIS OF BALANCE SHEET
(RS.
IN MILLIONS)
|
LIABILITIES |
31-03-2011 |
31-03-2012 |
|
|
Provisional |
Projections |
|
CURRENT LIABILITIES |
|
|
|
|
|
|
|
1. Short-term borrowings from banks (incl. bills
purchased, discounted and excess borrowings placed on repayment basis) |
|
|
|
|
|
|
|
i) From applicant bank – CC - LC |
34.887 |
35.000 |
|
ii) From other banks |
-- |
-- |
|
iii) Loan from Others |
-- |
-- |
|
|
|
|
|
SUB-TOTAL (A) |
34.887 |
35.000 |
|
|
|
|
|
2. Unsecured loans |
-- |
-- |
|
|
|
|
|
3. Sundry Creditors (Trade),Including LC o/s |
34.201 |
59.000 |
|
|
|
|
|
4. Advance payments from customers/ deposits from
dealers |
-- |
-- |
|
|
|
|
|
5. Provision for taxation |
5.796 |
11.453 |
|
|
|
|
|
6. Dividend payable |
0.072 |
0.073 |
|
|
|
|
|
7. Other liabilities (Share Appln money refundable) |
-- |
-- |
|
|
|
|
|
8. Deposits/ Installments of term loans/ DPG's/
Debentures, etc. (due within one year) |
4.405 |
6.830 |
|
|
|
|
|
9. Other current liabilities and provisions (due
within one year) |
11.337 |
20.428 |
|
|
|
|
|
SUB-TOTAL ( B ) |
55.811 |
97.783 |
|
|
|
|
|
10. TOTAL CURRENT LIABILITIES (Total of 1 to 9 excld. 1 (iii) |
90.698 |
132.783 |
|
|
|
|
|
TERM LIABILITIES |
|
|
|
|
|
|
|
11. Debentures (Not maturing within one year) |
-- |
-- |
|
|
|
|
|
12. Preference Shares (Redeemable after one year) |
-- |
-- |
|
|
|
|
|
13. Term loans (excluding installments payable
within one year) |
2.167 |
4.698 |
|
|
|
|
|
14. Deferred Tax liability |
0.497 |
0.821 |
|
|
|
|
|
15. Term deposits (repayable after a year) |
2.926 |
4.537 |
|
|
|
|
|
16. Other
term liabilities |
-- |
-- |
|
16a. Other term liabilities |
-- |
-- |
|
|
|
|
|
17. TOTAL
TERM LIABILITIES (Total of 11 to 16) |
5.590 |
10.056 |
|
|
|
|
|
18. TOTAL
OUTSIDE LIABILITIES (10 + 17) |
96.288 |
142.839 |
|
|
|
|
|
NET WORTH |
|
|
|
|
|
|
|
19. Ordinary
Share Capital |
0.363 |
0.363 |
|
- Payable to associate
company |
17.553 |
10.613 |
|
20. General Reserve |
6.800 |
11.800 |
|
|
|
|
|
21. Revaluation Reserve |
-- |
-- |
|
|
|
|
|
22. Other
reserves ( Share Premium) |
3.095 |
3.095 |
|
|
|
|
|
23. Surplus (+) or deficit (-) in Profit & Loss
Account |
20.513 |
28.112 |
|
|
|
|
|
23a. Preference Share Capital |
-- |
-- |
|
23a. Share application money |
-- |
-- |
|
|
|
|
|
24. Net
Worth |
48.324 |
53.983 |
|
|
|
|
|
25. TOTAL
LIABILITIES |
144.612 |
196.822 |
|
|
|
|
|
CURRENT ASSETS |
|
|
|
26. Cash and bank balances |
0.512 |
0.901 |
|
|
|
|
|
27. Investments
(Other than long term investments.) |
|
|
|
i) Government and other
trust sec. |
-- |
-- |
|
ii) Fixed deposits with
banks |
11.546 |
13.503 |
|
Iii) Other Tradable
securities |
-- |
-- |
|
|
|
|
|
28. Receivables |
|
|
|
|
|
|
|
i) Receivable |
61.641 |
83.501 |
|
|
|
|
|
ii) Export receivables (Include. bills purchased and
discounted by banks) |
16.072 |
17.569 |
|
|
|
|
|
29.
Installments of deferred receivables ( due within one year ) |
-- |
-- |
|
|
|
|
|
30. Inventory : |
|
|
|
|
|
|
|
i) Raw materials ( including stores and other items
used in the process of manufacture) |
|
|
|
a) Imported |
-- |
-- |
|
b) Indigenous |
-- |
-- |
|
|
|
|
|
ii) Stocks - in - process |
-- |
-- |
|
|
|
|
|
iii) Finished goods |
33.328 |
50.714 |
|
|
|
|
|
iv) Other consumable spares |
|
|
|
a) Imported |
-- |
-- |
|
b) Indigenous |
-- |
-- |
|
|
|
|
|
31. Advances to suppliers of raw materials and
stores/ spares |
-- |
-- |
|
|
|
|
|
32. Advance payment of taxes |
3.403 |
7.549 |
|
|
|
|
|
33. Other current assets |
5.171 |
8.018 |
|
|
|
|
|
34. TOTAL
CURRRENT ASSETS (Total of 26 to 33) |
131.673 |
181.755 |
|
|
|
|
|
FIXED ASSETS |
|
|
|
|
|
|
|
35. Gross Block |
17.300 |
21.856 |
|
|
|
|
|
36.
Depreciation to Date |
7.321 |
9.249 |
|
|
|
|
|
37. NET BLOCK
(35-36) |
9.979 |
12.607 |
|
|
|
|
|
OTHER NON-CURRENT ASSETS |
|
|
|
|
|
|
|
38.
Investments/ book debts/ advances/ deposits which are not Current
Assets. |
|
|
|
i) (a) Investments in subsidiary companies/
affiliates |
-- |
-- |
|
(b) Others |
0.460 |
0.460 |
|
|
|
|
|
ii) Advances to suppliers of Capital goods and
Contractors |
-- |
-- |
|
|
|
|
|
iii) Deferred receivables (Maturity exceeding one
yr.) |
-- |
-- |
|
|
|
|
|
iv) Book Debts more than 6 months |
2.500 |
2.000 |
|
|
|
|
|
v) Investments |
|
|
|
Trade |
-- |
-- |
|
Non-trade
(Security Deposit) |
-- |
-- |
|
|
|
|
|
vi) Others |
-- |
-- |
|
|
|
|
|
39. Non-
Consumables Stores and Spares |
-- |
-- |
|
|
|
|
|
40. Other
Non- Current assets including dues from Directors |
-- |
-- |
|
|
|
|
|
41. TOTAL
OTHER NON- CURRENT |
2.960 |
2.460 |
|
ASSETS ( Total of 38 to 40 ) |
|
|
|
|
|
|
|
42. Intangible
assets (patents, goodwill, Preliminary Exps., Bad/ Doubtful Debts Not
Provided for etc.) |
-- |
-- |
|
|
|
|
|
43. TOTAL
ASSETS (Total of 34, 37, 41 and 42) |
144.612 |
196.822 |
|
|
|
|
|
44. TANGIBLE
NET WORTH (24-42 ) |
48.324 |
53.983 |
|
|
|
|
|
45. NET
WORKING CAPITAL |
40.975 |
48.972 |
|
|
|
|
|
46. Current ratio ( Item 34/10 ) |
1.45 |
1.37 |
|
|
|
|
|
47. Total Outside Liabilities / Tangible Net Worth
(18/44) |
1.99 |
2.65 |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF ASSETS AND LIABILITIES
MR.
SHRIKANT GHOLBA
(RS.
IN MILLIONS)
ASSETS
INVESTMENT
IN BUSINESS CAPITAL
|
Name of the Company/ firm/ concern in which investment is made |
Amount Invested (Rs. In
Millions) |
|
|
|
|
Nisiki India Private Limited (1307 Shares @ Rs.6028/-) |
7.879 |
|
|
|
|
Total
|
7.879 |
DEPOSITS
HELD WITH BANKS
|
Name of the Bank |
Nature of Deposits held |
Amount of Deposits (Rs. In
Millions) |
|
|
|
|
|
Corporation Bank,
Kandivali Branch |
CLKCC |
0.400 |
|
|
|
|
|
Total |
|
0.400 |
DEPOSITS
HELD WITH COMPANIES/ OTHERS
|
Name of the Company |
Nature of Deposits |
Amount of Deposits (Rs. In
Millions) |
|
|
|
|
|
Nisiki India
Private Limited |
Incentive
Receivable |
0.590 |
|
|
|
|
|
Total |
|
0.590 |
LIFE
INSURANCE POLICY
|
Date of Policy |
Policy No. |
Annual Premium (Rs. In Millions)
|
Sum Assured (Rs. In Millions) |
|
|
|
|
|
|
04.03.1999 |
900039326 |
0.037 |
0.500 |
|
30.06.2006 |
893124995 |
0.081 |
1.000 |
|
|
|
|
|
|
Total |
|
0.118 |
1.500 |
IMMOVABLE PROPERTY
|
Name of the
Owner |
Description of
Property |
Location/
Address of Property |
Extent of
Land |
|
|
|
|
|
|
Mr. Shrikant Gholba |
Residential Flat |
202, Cascade
Phase 1, Kulup Wadi Road, Borivali (East), Mumbai – 400066, Maharashtra,
India |
738 sq. ft. carpet |
|
|
|
|
|
|
Details of
documents Conferring right |
Date of Purchase
of Property |
Original
Purchase Cost (Rs. In Millions) |
Present Market
Value (Rs. In
Millions) |
|
|
|
|
|
|
Agricultural with the builders |
25.01.1999 |
Rs.1.724 Millions |
Rs.6.750 Millions |
|
|
|
|
|
|
TOTAL ASSETS |
RS.17.119
MILLIONS |
LIABILITIES
BORROWING FROM OTHERS
|
Name
of the Lender |
Amount
Borrowed (Rs.
In Millions) |
Details
of Security Furnished |
|
|
|
|
|
Corporation Bank |
0.165 |
Flat |
|
|
|
|
|
TOTAL LIABILITIES |
RS.0.165 MILLION
|
|
NET WORTH |
RS.16.954
MILLIONS |
------------------------------------------------------------------------------------------------------------------------------
STATEMENT OF ASSETS AND LIABILITIES
MRS.
UMA SHRIKANT GHOLBA
(RS.
IN MILLIONS)
ASSETS
INVESTMENT
IN BUSINESS CAPITAL
|
Name of the Company/ firm/ concern in which investment is made |
Amount Invested (Rs. In
Millions) |
|
|
|
|
Nisiki India Private Limited (185 Shares @ Rs.6028/-) |
1.115 |
|
|
|
|
Total
|
1.115 |
LIFE
INSURANCE POLICY
|
Date of Policy |
Policy No. |
Whether Endowment
policy or whole life policy |
Annual Premium (Rs. In Millions)
|
Sum Assured (Rs. In Millions) |
|
|
|
|
|
|
|
28.02.1990 |
917108413 |
Whole life
policy |
0.005 |
0.100 |
|
08.02.2002 |
904677817 |
Endowment |
0.010 |
0.100 |
|
17.01.2002 |
891290631 |
-- |
0.011 |
0.100 |
|
|
|
|
|
|
|
Total |
|
|
0.026 |
0.300 |
IMMOVABLE PROPERTY
|
Name of the
Owner |
Description of
Property |
Location/
Address of Property |
Extent of
Land |
|
|
|
|
|
|
Uma Shrikant Gholba |
Residential Flat |
202, Cascade
Phase 1, Kulup Wadi Road, Borivali (East), Mumbai – 400066, Maharashtra,
India |
738 sq. ft. carpet |
|
|
|
|
|
|
Details of
documents Conferring right |
Date of Purchase
of Property |
Original
Purchase Cost (Rs. In Millions) |
Present Market
Value (Rs. In
Millions) |
|
|
|
|
|
|
Agricultural with the builders |
25.01.1999 |
Rs.1.724 Millions |
Rs.6.750 Millions |
|
|
|
|
|
|
TOTAL ASSETS |
RS.8.165
MILLIONS |
LIABILITIES
BORROWING FROM OTHERS
|
Name
of the Lender |
Amount
Borrowed (Rs.
In Millions) |
|
|
|
|
Corporation Bank |
0.086 |
|
|
|
|
TOTAL LIABILITIES |
RS.0.086 MILLION
|
|
NET WORTH |
RS.8.079
MILLIONS |
------------------------------------------------------------------------------------------------------------------------------
VALUATION REPORT
GENERAL
INFORMATION
|
Purpose for which valuation made |
To ascertain present Fair Market Value for Corporation Bank, Kandivali Branch |
|
|
|
|
Date on which valuation made |
08.08.2008 |
|
|
|
|
Name of the Owner / Owners |
Mr. Shrikant Mohan Gholba and Dr. Uma Shrikant Gholba |
|
|
|
|
If the property is under joint ownership / share of each owner. Is the share undivided? |
Joint Ownership |
|
|
|
|
Brief description of properly |
Flat No.202, 2nd Floor, Casecade I, Near National Park and Tata Consultancy, Village Kanheri, Kulupwadi, Borivali (East), Mumbai – 400066, Maharashtra, India Brief
Description The residential Properties Flat No.202 on 2nd Floor of Casecade I situated at above address is about 2 km from Borivali (West) Railway Station; All civic amenities are nearby and within easy reach. The residential building is of stilt + 14 upper floors. It is an RCC frame structure having RCC staircase and 2 lifts to access upper floors. Amenities of the
property Spartex tiles flooring, wooden flush doors, powder coated aluminum sliding windows, granite kitchen platform, full height- glazed tiled dado in toilet, concealed wiring and plumbing etc. Landmark National Park and Tata Consultancy. Boundaries East: Raheja Complex West: Tata Consultancy North: Raheja Estate South: Cascade II and III Accommodation Accommodation provided in Flat consists of 1 Hall, 2 Bedroom, 1 Kitchen, 2 Toilet etc. (i.e. 2 BHK). As per measurement the carpet area is 739 sq. mft. With 35% loading the built up area comes to 998 sq. ft. As per agreement the carpet area is 68.57 sq. mtr. i.e. 738 sq. ft. with 35% loading the built up area comes to 996 sq. ft. which is considered for valuation. Note and
Disclaimers Flat No.201 and 202 are merged having two entrances. They consider the area given in the agreement declared by the party and submitted for registration with the government authorities as final for valuation purpose. Any area that is not stated in the agreement is not considered for valuation. The valuation is based on their experience and knowledge and this is an opinion only and does not stand as a guarantee for the value it can fetch if disposed, due to any emergency, in future. The legal documents pertaining to the ownership of the above said property has been referred to on its face value and that is presumed that Bank has got the same verified through its legal counsel. They do not certify the veracity of the documents. This report does not certify valid or legal or marketable title of any of the parties over the property. The report does not cover verification of ownership, title clearance, or legality any subject to adequacy of engineering/ structural design. Copy of the approved plans not given for their verification and the same may he obtained from the owner. The valuation is only for the use of the party to whom it is addressed and no responsibility is accepted to any third party for the whole or any part of its contents. Encumbrances of Loan, Government and other
dues, stamp duty, registration charges etc. if any are not considered in the
assets are free from encumbrances. |
|
|
|
|
Location, Street, Ward No. |
Flat No.202, 2nd Floor, Casecade I, Near National Park and Tata Consultancy, Village Kanheri, Kulupwadi, Borivali (East), Mumbai – 400066, Maharashtra, India |
|
|
|
|
Survey/ Plot No. of Land |
Survey No.30 (pt), CTS No.518-B/1, 518 A/3, Village Kanheri. |
|
|
|
|
Is the Property situated in residential/ commercial/ Mixed/ Industrial area? |
Residential Area |
|
|
|
|
Classification of Locality High class/ Middle Class/ Poor Class. |
Middle Class |
|
|
|
|
Proximity to civic amenities like school, offices, hospitals, market, cinemas, railway etc. |
All civic amenities are nearby and within easy reach. |
|
|
|
|
Means and Proximity to surface communication by which the locality is served |
Tax, Auto, Bus and Private Vehicles etc. |
|
|
|
|
Is the property owner occupied, tenant or both |
Owner Occupied |
|
|
|
|
If partly occupied specify portion and extent of area under owner occupation. |
Owner Occupied |
SALES AND
MARKETABILITY
|
Give instances of sale of immovable property in the locality on a separate sheet, including the name and address of the property registration No. sale price and area land sold. |
Sales instances are not readily available. As such local estate agent builders and other related agencies were contacted to ascertain fair market value. |
|
|
|
|
Market Rates adopted |
Prevalent Market Rates: Rs.6500/- to Rs.7000/- per sq. ft. Rate adopted for Valuation: Cost of Land: Rs.5300/- per sq. ft. Cost of construction (Insurance Value): Rs.1200/- per sq. ft. Factors considered for valuation Location and Locality, facilities and amenities, quality of construction, residual life of building, business potential, supply of demand, local nearby equity, market feed back of investigation. |
|
|
|
|
If sale instances are not available or relied upon, basis of arriving at the land rate. |
Enquired with local Architects and Real estate consultants about the current market rates in that area and on this basis property is valued under “Selling Price Method”. |
|
|
|
|
PRESENT FAIR MARKET
VALUATION |
|
|
Valuation = Area x
Rate = |
|
|
|
|
|
A) Cost of Land: |
|
|
Area |
996 sq. ft. |
|
Rate adopted for Valuation |
Rs.5300/- per sq. ft. |
|
Value |
Rs.5.279 Millions |
|
|
|
|
B) Cost of
Construction : (Insurance value) |
|
|
Area |
996 sq. ft. |
|
Rate adopted for Valuation |
Rs.1200/- per sq. ft. |
|
Value |
Rs.1.195 Millions |
|
|
|
|
Total Value of the
property = A + B = Rs.5.279 Millions + Rs.1.195 Millions = Rs.6.474 Millions |
|
|
|
|
|
Distress |
Rs.5.503 Millions |
TECHNICAL DETAILS FOR THE PREMISES
|
No. of floors and height of each floor |
Stilt + 14 Upper Floors Height 9’ upto ceiling |
|
|
|
|
Location and Plinth Area |
Flat No. 202, 2nd Floor, Total Carpet Area - 739 sq. ft. Carpet Area – 68.57 sq. Mtr. i.e. 738 sq. ft. – agreement Built tip Area - 996 sq. ft. |
|
|
|
|
Year of Construction |
1999 |
|
|
|
|
Estimated Future Life |
61 years (subject to proper repair maintenance of the building) |
|
|
|
|
Type of Construction |
RCC Framed Structure |
|
|
|
|
Type of foundation |
RCC footing |
|
|
|
|
Walls |
|
|
External Walls |
9’ thick brick masonry walls |
|
Partitions |
41/2” thick brick masonry walls |
|
|
|
|
Door and windows (floor-wise) |
Wooden flush doors, powder coated aluminium sliding windows. |
|
|
|
|
Flooring (Floor-wise) |
Spartex tiles flooring |
|
|
|
|
Finishing and Maintenance |
Good |
|
|
|
|
Roofing and Terracing |
RCC Slab Roof |
|
|
|
|
Special Architectural or decorative features. |
Good |
|
|
|
|
Internal wiring – surface or conduit. |
Concealed Wiring |
|
|
|
|
Class of Fittings/ |
Superior |
|
|
|
|
Sanitary Installations |
W.C. and bath |
|
|
|
|
Class of fittings superior colored / superior white/ ordinary |
Superior Colored |
|
|
|
|
Compound Wall |
Exist along the boundary of Plot |
|
|
|
|
No. lifts and Capacity |
2 lifts |
|
|
|
|
Underground Sump |
Existing |
|
|
|
|
Capacity |
Sufficient as per requirement |
|
|
|
|
Type of Construction |
RCC |
|
|
|
|
Overhead Tank |
Existing |
|
Where located |
On Terrace |
|
Capacity |
Sufficient as per Requirement |
|
Type of Construction |
RCC |
|
|
|
|
Pumps Nos. and their horsepower |
2 Pumps |
|
|
|
|
Road and paving within the compound, approx area. |
Plain Cement Concrete Paving |
|
|
|
|
Sewage disposal, whether connected to public sewers. If
Septic tanks provided, no and capacity. |
Connected to Municipal Sewers |
|
|
|
|
Regards to aesthetics and environment |
|
|
|
|
|
Safety Considerations fires, earthquakes, and tides |
Fire Fighting equipment installed Others: As per MCGM Norms. |
------------------------------------------------------------------------------------------------------------------------------
FORM 8:
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10064180 |
|
Corporate
identity number of the company |
U29130MH1992PTC066926 |
|
Name of the
company |
NISIKI INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Silvistan Apartment, 1st Floor, Muerine Street, M G Road,
Kandivali West, Mumbai – 400067, Maharashtra, India |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
· Corporation Bank Kandivali West Branch, Turakhia Park, M G Road, Kandivali West, Mumbai
– 400067, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
1) Common Deed of
Hypothecation of Movables/ Assets/ Debts, (2) Guarantee Agreement, (3)
Continuity Letter, (4) Export Credit Agreement and (5) Agreement for
Inland/Foreign Bills all dated 2nd August, 2007 all five documents
constituting a single charge. |
|
Date of instrument
Creating the charge |
08.08.2008 |
|
Amount secured by
the charge |
Rs.55.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest At COBAR+1 .50% i.e.
at 15% (Floating) subject to change time to time as per RBI/H.O. Guidelines
on Cash Credit. Terms of
Repayment Payable on Demand Margin Stock 25%,
Debtors 30% and L.C. Margin 15% Extent and
Operation of the charge The charge will
extend to stocks consisting of Ball Bearings, load cells and stopper motors
etc. and to book debts of the Company arising out of sales transactions |
|
Short particulars
of the property charged |
Stocks consisting
of Ball Bearings, load cells and stopper motors etc. and to book debts of the
Company arising out of sales transactions |
------------------------------------------------------------------------------------------------------------------------------
FIXED ASSETS
· Inspection Equipments
· Fax Machine
· Computers
· Internet Data card
· Typewriter
· Furniture and Fixtures
· Two Wheeler Vehicles
· Air Conditioner
· Electrical Fittings
· Generator and Invertor
· Tools
· Office Equipments
· Fan Testing Machine
· Motor Car
· Fan die Machine
· Testing Machine
------------------------------------------------------------------------------------------------------------------------------
WEBSITE DETAILS:
PROFILE:
Meaning:
NISIKI
NISIKI in the oriental culture means "Dawn of
Prosperity".
BUSINESS:
· Total Value Chain Manufacturing.
· From manufacturing to enduser assembly line at lowest cost in Fast Moving Industrial Consumables (components)
INDUSTRY:
Capital Intensive manufactured components : Bearings, Micro Motors, Load Cells,
Micro Electronics.
MARKET:
Auto, Appliance, Industrial, Textile, Electronic - 5
High potential segments.
AUTO
Lucas TVS, Piaggio Vehicles, Tata Auto Components, Rane TRW,
Maruti, Honda, Piaggio, Tata Authorized Service Stations.
APPLIANCES
IFB, Kirloskar Pumps, Kulkarni Power Tools, Aplicomp (Videocon),
Danaher Motion (India)
INDUSTRIAL
BEML, Larsen and Tubro, Maini Materials, Telcon, UltraTech Cements, Tata Steel,
Jindal, Ballarpur Paper, Bhushan Steel, Salem Steel
TEXTILE
SIlvassa Industries (Reliance), Garden Mills, Alidhara, Himson
Textile Engineers
ELECTRONIC
Wipro ePeripherals, Tata Infotech, Essae Terekoa, Diebold, TVSE
Electronics
COMPANY HISTORY
1992 :
Incorporated as Private Limited company Nisiki Bearings
Private Limited by 4 engineers with work experience with SKF. Started
agency operations with Minebea, Japan
1994 :
Started agency operations with Koyo Seiko, Japan.
1996 :
Established Singapore HQ.
Established central warehousing and bulk-cargo logistics in
Singapore.
Commence FOB supply through Nisiki (S) Pte Limited
Invested in manufacturing in China for Mech. and Elec.
components.
1997 :
Established Nisiki Engineering Limited as Internal Design
House for Mech./ Elec. Product development and allied engineering
services
2000 :
Established warehouse operations at Bhiwandi near Mumbai
port for local currency supply of material to customers.
2002 :
Launched under NISIKI brand range of complimentary mech. and
elec. products. bearings, load cells commutators, Thermal Overload Protector….Launch of NISIKI brand.
2005 :
Liaison offices in Europe and USA. Established W/H at
Ludhiana, Hyderabad, Chennai....
2006 :
Largest Value Chain Manufacturing for the product range in
India
2007 :
Nisiki opens retail outlet to serve the replacement market
in Mumbai. Company renamed company. Nisiki gets ISO 9001:2000 certifications.
72 Engineers
15 Commercial
16 Branch/Warehouse operations in India
INDUSTRY AND PRODUCTS ANALYSIS
Highly capital Intensive manufacturing.
Hence remote possibility of capacity expansion in India.
Bearings: Rs.60000.000 Millions
Mechatronics: Rs.30000.000 Millions
Growth rates: 15% next 3 years
Leading players SKF, FAG, HBM, TEDEA, AIRPAX, DELTA,
KOLEKTOR, TEXAS, THERMIK
COMPETITIVE ADVANTAGE
Competitors are
established for 50-100 years.
Highly dependent on Multi-layer distribution.
High bureaucracy – overheads.
Nisiki Advantage: Single chain from
manufacturing to end-user assembly line.
· Segment-wise application specific marketing and sales team.
· Product development team for Mech. and Elec. items with R&D.
· Reliability is Guaranteed
· Price is Less than competition.
· Daily-Weekly Delivery on customer assembly line.
· Near 0% risk cost of inventory to customer.
UNIQUE ADVANTAGE
Only one with Value Chain Manufacturing business model.
Lateral scalability customer-wise in 5-segments
Horizontal scalability product-wise in Mech./ Elec components.
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.44.41 |
|
|
1 |
Rs.72.49 |
|
Euro |
1 |
Rs.63.87 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
31 |
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.