1. Summary Information
|
|
|
Country |
|
|
Company Name |
ANTIMU
ENGINEERING COMPANY PRIVATE LIMITED |
Principal Name 1 |
Mr. Suresh M Keshwani |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Sharad N Waghmare |
|
|
|
Registration # |
11-60164 |
|
Street Address |
103 – A, Hiren
Industrial Estate, |
||
|
Established Date |
07.02.1991 |
SIC Code |
-- |
|
Telephone# |
91-22-24460800 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22-24458261 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Special Purpose Custom Built Bearing Housings |
|
|
# of employees |
About 80 |
Product Name 2 |
-- |
|
Paid up capital |
Rs.
1,500,000
/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of directors
96.00%, Other
4.00% |
Banking |
Corporation Bank |
|
Public Limited Corp. |
No |
Business Period |
20 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
Ba
(45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
15,547,000 |
Current Liabilities |
2,580,000 |
|
Inventories |
2,987,000 |
Long-term Liabilities |
000 |
|
Fixed Assets |
4,866,000 |
Other Liabilities |
2,415,000 |
|
Deferred Assets |
000 |
Total Liabilities |
4,995,000 |
|
Invest& other Assets |
000 |
Retained Earnings |
16,905,000 |
|
|
|
Net Worth |
18,405,000 |
|
Total Assets |
23,400,000 |
Total Liab. & Equity |
23,400,000 |
|
Total Assets (Previous Year) |
20,004,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
33,222,000 |
Net Profit |
4,023,000 |
|
Sales(Previous yr) |
41,156,000 |
Net Profit(Prev.yr) |
5,075,000 |
MIRA
INFORM REPORT
|
Report Date : |
01.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
ANTIMU ENGINEERING COMPANY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
103 – A, Hiren Industrial Estate, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
07.02.1991 |
|
|
|
|
Com. Reg. No.: |
11-60164 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.500
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29130MH1991PTC060164 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA20250G MUMA22395C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCA0383Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Special Purpose Custom Built Bearing Housings. |
|
|
|
|
No. of Employees
: |
80 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 73000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The Company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office / Factory : |
103 – A, Hiren Industrial Estate, |
|
Tel. No.: |
91-22-24460800 / 24442204 / 24441146 / 24458261 |
|
Fax No.: |
91-22-24458261 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 27.09.2010
|
Name : |
Mr. Suresh M Keshwani |
|
Designation : |
Director |
|
Address : |
16, West Coast Apt, St. Joseph Road, Bandra West, Mumbai – 400050,
Maharashtra, India |
|
Date of Birth/Age : |
02.06.1943 |
|
Date of Appointment : |
07.02.1991 |
|
|
|
|
Name : |
Mr. Sharad N Waghmare |
|
Designation : |
Director |
|
Address : |
401, Savera III, J.P. Road, Versova, Andheri W, Mumbai – 400061,
Maharashtra, India |
|
Date of Birth/Age : |
18.01.1952 |
|
Date of Appointment : |
07.02.1991 |
|
|
|
|
Name : |
Mr. Avinash R Wagh |
|
Designation : |
Director |
|
Address : |
8/2 Navjivan CHS, |
|
Date of Birth/Age : |
05.10.1945 |
|
Date of Appointment : |
01.02.1991 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Suresh M Keshwani |
|
2405 |
|
Sharad N Waghmare |
|
2405 |
|
Avinash R Wagh |
|
2405 |
|
Priyamvada S Waghmare |
|
2395 |
|
Bharati S Keshwani |
|
2395 |
|
Reena A Wagh |
|
2395 |
|
Harish P Bhat |
|
600 |
|
|
|
|
|
Total |
|
15000 |
As on 27.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
96.00 |
|
Other
|
|
4.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Special Purpose Custom Built Bearing Housings. |
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Products : |
|
GENERAL INFORMATION
|
Customers : |
|
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|
||||||||||||
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No. of Employees : |
80 (Approximately) |
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Bankers : |
Corporation Bank, |
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|
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Facilities : |
Note: Security: Working capital limits are secured by hypothecation of stocks
(consisting of raw materials, semi finished goods, finished goods and spares)
and book debts of the company. Limits are further secured by equitable
mortgage of the office premises of the company. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chartered Accountant |
|
Address : |
F-2, V. Mehta Marg, JVPD, Juhu, Mumbai-400049, |
|
Tel. No.: |
91-22-67419960 |
|
Fax No.: |
91-22-67419960 |
|
E-Mail : |
CAPITAL STRUCTURE
As on 27.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000 |
Equity Shares |
Rs.100/- each |
Rs.2.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
15000 |
Equity Shares |
Rs.100/- each |
Rs.1.500
Millions |
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 |
|
|
|
|
|
1] Share Capital |
1.500 |
1.500 |
1.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
16.905 |
13.234 |
13.423 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
18.405 |
14.734 |
14.923 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.436 |
4.550 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.436 |
4.550 |
|
|
DEFERRED TAX LIABILITIES |
0.311 |
0.250 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
18.716 |
15.420 |
19.473 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4.866 |
5.139 |
5.467 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.103 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2.987
|
3.115 |
3.824 |
|
|
Sundry Debtors |
4.371
|
4.272 |
6.268 |
|
|
Cash & Bank Balances |
8.373
|
5.096 |
8.276 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
2.803
|
2.382 |
2.510 |
|
Total
Current Assets |
18.534
|
14.865 |
20.878 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
2.470
|
2.435 |
|
|
|
Other Current Liabilities |
0.110
|
0.032 |
5.107 |
|
|
Provisions |
2.104
|
2.117 |
1.868 |
|
Total
Current Liabilities |
4.684
|
4.584 |
6.975 |
|
|
Net Current Assets |
13.850
|
10.281 |
13.903 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
18.716 |
15.420 |
19.473 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
33.222 |
41.156 |
34.848 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
26.948 |
33.324 |
29.654 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
26.948 |
33.324 |
29.654 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
6.274 |
7.832 |
5.194 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.084 |
0.187 |
0.294 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6.190 |
7.645 |
4.900 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.386 |
0.378 |
0.407 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
5.804 |
7.267 |
4.493 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.781 |
2.192 |
1.641 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
4.023 |
5.075 |
2.852 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
10.134 |
10.873 |
8.872 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Proposed Dividend |
0.300 |
0.000 |
0.150 |
|
|
|
Interim Dividend |
0.000 |
0.000 |
0.300 |
|
|
|
Special Dividend |
0.000 |
4.500 |
0.000 |
|
|
|
Tax on Dividend |
0.051 |
0.764 |
0.076 |
|
|
|
General Reserve |
0.450 |
0.550 |
0.325 |
|
|
BALANCE CARRIED
TO THE B/S |
13.356 |
10.134 |
10.873 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
268 |
338 |
190 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
12.11
|
12.33 |
8.18 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
24.80
|
36.33 |
17.05 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32
|
0.49 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.25
|
0.34 |
0.77 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.95
|
3.24 |
2.99 |
LOCAL AGENCY FURTHER INFORMATION
Operations:
The company had to work very hard to maintain profitability in face of
severe economic recession. Though it managed to remain profitable, yet the sales
figure was down by 19% and the net profit fell by 23% (year over year
comparison). Expectations for next year are for positive growth.
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
90212361 |
|
Corporate
identity number of the company |
U29130MH1991PTC060164 |
|
Name of the
company |
ANTIMU
ENGINEERING COMPANY PVT LTD |
|
Address of the
registered office or of the principal place of business in |
103 – A, Hiren Industrial Estate, |
|
Type of charge |
Book Debts Movable Property
(not being pledge) Immovable
Property |
|
Particular of
charge holder |
Corporation Bank, |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
1.Supplemental
common deed of hypothecation 2.Continuity
letter (all the above
agreement constitute a single charge) |
|
Date of
instrument Creating the charge |
29.03.2007 |
|
Amount secured by
the charge |
Rs.3.300 Millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As stipulated by
bank from time to time and as per agreement attached and as per sanction
letter of the bank Terms of
Repayment As stipulated by
bank from time to time and as per agreement attached and as per sanction
letter of the bank Margin As stipulated by
bank from time to time and as per agreement attached and as per sanction
letter of the bank Extent and
Operation of the charge First charge(present
and future)-as stipulated by bank from time to time and as per agreement
attached and as per sanction letter of the bank Others As stipulated by
bank from time to time and as per agreement attached and as per sanction
letter of the bank |
|
Short particulars
of the property charged |
First
Charge(Present And Future)-(1)Hypothecation of All Stock, Stock In Trade and
Book Debts/Raw Materials/Accessories/Stock-In-Process And Finished Goods,
Hypothecation of All Movables/Assets of The Company, First Charge on All
Current and Fixed and Movable Assets of The Company(2)EMG of Unit No 103a,Ist
Floor, Hiren Light Inustria Premises Co-Op Society Limited, Mogul Lane,
Mahim, Mumbai 16 |
|
Date of latest
modification prior to the present modification |
30.12.2003 |
|
Particulars of
the present modification |
By This
Modification Limit Enhanced to Rs. 3.300 Millions (Cash Credit=Rs.2.300
Millions and Bank Guarantee=Rs.1.000 Million), Continued Security As Given By
Original Charge And By Modifications, Terms And Conditions. |
Fixed Assets:
- Office
Equipment
- Tools and
Equipments
- Moulds /
Patterns
- Furniture and Fixtures
- Computers
- Motors Cars
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.45.03 |
|
|
1 |
Rs.74.43 |
|
Euro |
1 |
Rs.64.75 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
|
46 |
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.