MIRA
INFORM REPORT
|
Report Date : |
29.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
ACCORD TOOLS AND ACCESSORIES PRIVATE LIMITED |
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Registered
Office : |
Plot No.12, 2nd Floor, District Centre, Purnnagar, Kudal
Wadi, Chikhali, Pune, Maharashtra – 411019 |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
15.07.2004 |
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Com. Reg. No.: |
11-019512 |
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Capital
Investment / Paid-up Capital : |
Rs. 3.000 Millions |
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CIN No.: [Company Identification
No.] |
U29119PN2004PTC019512 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNEA07016C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Industrial Manufacturer for Automobile Components, Machine tool,
Fixtures etc. |
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No. of Employees
: |
Not Divulged by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
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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 34000 |
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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 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.
INFORMATION DECLINED BY
|
Name : |
Mr. Ganesh Jamgaonkar |
|
Designation : |
Director |
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Date : |
27.07.2011 |
LOCATIONS
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Registered Office : |
Plot No.12, 2nd Floor, District Centre, Purnnagar, Kudal
Wadi, Chikhali, Pune, Maharashtra – 411019, India |
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Tel. No.: |
91-2135-261438 / 261439 |
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E-Mail : |
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Website : |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Dillip Harekrishna Mekap |
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Designation : |
Whole Time Director |
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Address : |
Flat No.9, Plot No. 163, Ashray, G. Block, Shahu Nagar, MIDC,
Chinchwad, Pune, Maharashtra, India |
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Date of Appointment : |
15.07.2004 |
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|
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Name : |
Mr. Ganesh Jamgaonkar |
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Designation : |
Whole Time Director |
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Address : |
Building F-303, Empire Estate, Bombay Pune Highway, Chinchwad, Pune –
411019, Maharashtra, India |
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Date of Appointment : |
15.07.2004 |
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Name : |
Mrs. Ritarani Dillip Mekap |
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Designation : |
Whole Time Director |
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Address : |
Flat No.9, Plot No. 163, Ashray, G. Block, Shahu Nagar, MIDC,
Chinchwad, Pune, Maharashtra, India |
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Date of Appointment : |
15.07.2004 |
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Name : |
Mr. Anuja Jamgaonkar |
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Designation : |
Whole Time Director |
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Address : |
Building F-303, Empire Estate, Bombay Pune Highway, Chinchwad, Pune –
411019, Maharashtra, India |
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Date of Appointment : |
15.07.2004 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Dlip Harekrishna Mekap |
|
7500 |
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Ganesh Jamgaonkar |
|
7500 |
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Ritarani Mekap |
|
7500 |
|
Anuja Jamgaonkar |
|
7500 |
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Total |
|
30000 |
AS ON 30.09.2010
|
Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Industrial Manufacturer for Automobile Components, Machine tool,
Fixtures etc. |
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GENERAL INFORMATION
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No. of Employees : |
Not Divulged by the Management. |
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Bankers : |
·
Slandered Chartered Bank, SME Credit, 23-25, M G
Road, Fort, Mumbai – 400001, Maharashtra, India ·
Central
Bank of India, 'B' WING, 1st Floor, "Jewel of Pimpri",, Kamla cross
Road, Opp. P.C.M.C. Bhavan, Pimpri,, Pune, Maharashtra- 411018, INDIA |
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Facilities : |
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Banking
Relations : |
---- |
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Auditors : |
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Name : |
Rakesh Gupta and Associates Chartered Accountant |
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Address : |
Office No.69-71, Ground Floor, Fusion Park, Opposite Ajmera Garden,
Ajmera, Pune, Maharashtra, India |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
35000 |
Equity Shares |
Rs.100/- each |
Rs. 3.500 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
30000 |
Equity Shares |
Rs.100/-
each |
Rs. 3.000
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
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1] Share Capital |
3.000 |
3.000 |
1.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
5.389 |
3.776 |
4.418 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
8.389 |
6.776 |
5.418 |
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LOAN FUNDS |
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1] Secured Loans |
11.308 |
16.134 |
18.283 |
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2] Unsecured Loans |
9.562 |
10.992 |
5.064 |
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TOTAL BORROWING |
20.870 |
27.126 |
23.347 |
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DEFERRED TAX LIABILITIES |
0.109 |
0.126 |
0.127 |
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TOTAL |
29.368 |
34.028 |
28.892 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
6.750 |
7.415 |
5.425 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
4.148 |
4.103 |
3.939 |
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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 |
8.898
|
10.090 |
7.499 |
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Sundry Debtors |
24.412
|
20.677 |
22.808 |
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Cash & Bank Balances |
1.114
|
1.132 |
0.716 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
0.766
|
0.608 |
0.149 |
|
Total
Current Assets |
35.190
|
32.507 |
31.172 |
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|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
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Sundry Creditors |
10.655 |
8.031 |
4.726 |
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Provisions |
6.065
|
1.966 |
6.925 |
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Total
Current Liabilities |
16.720
|
9.997 |
11.651 |
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Net Current Assets |
18.470
|
22.510 |
19.521 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.007 |
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TOTAL |
29.368 |
34.028 |
28.892 |
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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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SALES |
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Income |
71.788 |
60.750 |
63.976 |
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Miscellaneous Income |
0.600 |
0.397 |
0.252 |
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TOTAL (A) |
72.388 |
61.147 |
64.228 |
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Less |
EXPENSES |
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|
|
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Material Consumption |
55.489 |
45.714 |
51.123 |
|
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Administrative and Selling Expenses |
6.254 |
5.850 |
6.335 |
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Employee’s Cost |
3.476 |
2.795 |
1.401 |
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|
TOTAL (B) |
65.219 |
54.359 |
58.859 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
7.169 |
6.788 |
5.369 |
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Less |
FINANCIAL
EXPENSES (D) |
3.917 |
3.470 |
2.058 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3.252 |
3.318 |
3.311 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.788 |
0.993 |
0.675 |
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PROFIT BEFORE
TAX (E-F) (G) |
2.464 |
2.325 |
2.636 |
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Less |
TAX (I) |
0.863 |
0.968 |
0.983 |
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PROFIT AFTER TAX
(G-I) (J) |
1.601 |
1.357 |
1.653 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
3.776 |
4.418 |
2.913 |
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BALANCE CARRIED
TO THE B/S |
5.389 |
3.776 |
4.418 |
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Earnings Per
Share (Rs.) |
45.74 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.40
|
2.21 |
2.57 |
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|
Net Profit Margin (PBT/Sales) |
(%) |
3.43
|
3.82 |
4.12 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.87
|
5.82 |
7.20 |
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.34 |
0.48 |
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Debt Equity Ratio (Total Liability/Networth) |
|
4.48
|
5.47 |
6.45 |
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|
Current Ratio (Current Asset/Current Liability) |
|
2.10
|
3.25 |
2.67 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
(Rs.
In Millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
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|
Sundry Creditors |
10.655 |
8.031 |
4.726 |
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|
OPERATIONS :
During the year ended on 31st March 2010 Sales and
Miscellanies Income amounted to Rs. 72.389 millions in comparison to Rs. 61.147
millions in the previous year. This year operations resulted in to Net Profit
of rs. 5.389 millions in comparison to Rs. 3.776 millions in the previous year
company is taking necessary steps to increase its profitability by imposing
strict control over overhead.
NOTE :
The registered office address of the company has been shifted from G/P –
121, Shahunagar G Block MIDC, Chinchwad, Pune – 411019, Maharashtra, India to
present address w.e.f. 03.03.2007.
FORM : 8
|
Corporate identity number of the company |
U29119PN2004PTC019512 |
|
Name of the company |
ACCORD TOOLS AND ACCESSORIES PRIVATE
LIMITED |
|
Address of the registered office or of the
principal place of business in |
Plot No.12, 2nd Floor, District Center,
Purnnagar, Kudal Wadi, Chikhli, Pune – 411019, Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Movable property (not being pledge) |
|
Particular of charge holder |
CENTRAL BANK OF INDIA, 'B' WING, 1st
Floor, "Jewel of Pimpri",, Kamla cross Road, Opp. P.C.M.C. Bhavan, Pimpri,,
Pune, Maharashtra- 411018, INDIA |
|
Nature of instrument creating charge |
Letter of hypothecation to secure Book
Debts. Letter of Hypothecation to secure demand
cash credit against goods and book debts and by way of collateral security
plant and machinery etc. Letter of continuity for book debts and
stock. Sanction Letter. |
|
Date of instrument Creating the charge |
22/03/2011 |
|
Amount secured by the charge |
Rs. 16.500 millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate
of interest BR + 4.75% =13.75% Terms
of repayment As per Letter of Hypothecation and Letter
of Continuity. Margin Margin - 25% Extent
and operation of the charge Security created by way of charge and to cover
the principal amount together with interest, cost and other charges payable
by the company Other
Nil |
|
Short particulars of the property charged
(Including location of the property) |
Hypothecation of stocks, raw material/SIP,
finished goods, consumable store and spares; Hypothecation of total debtors, debtors
upto 90 days will be taken as DP. |
FIXED ASSETS :
·
Car
·
Computer
·
Computer Moniter
·
Computer Software
·
Office Equipments
·
Furniture
·
Telephone Bill
·
Mobile
·
Printer
·
Hero Honda
·
Laptop
·
Scooty
·
Electrical Scale
·
Scanner Laser
·
Skoda Vehicle
·
Land
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. 44.12 |
|
|
1 |
Rs. 72.05 |
|
Euro |
1 |
Rs. 63.33 |
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 |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.