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MIRA
INFORM REPORT
|
Report Date : |
10.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
METAFAB ENGINEERS ( |
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|
|
|
Registered
Office : |
Plot No. 299, Sector – 24, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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|
|
|
Date of
Incorporation : |
27.03.2002 |
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|
|
|
Com. Reg. No.: |
05-034847 |
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|
|
Capital Investment
/ Paid-up Capital : |
Rs.2.350 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74140HR2002PTC034847 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RTKM02421G |
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|
|
PAN No.: [Permanent Account No.] |
AACCG8006F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturers of Garage Equipments and accessories. |
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|
No. of Employees
: |
Approximately 200 (Office – 45 and Factory – 155) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 80000 |
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|
|
|
Status : |
Satisfactory |
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|
|
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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.
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 |
INFORMATION DECLINED BY
|
Name : |
Mr. Santosh Pandey |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-9350186993 |
|
Date : |
07.06.2011 |
LOCATIONS
|
Registered Office : |
Plot No. 299, Sector – 24, |
|
Tel. No.: |
91-129-4026897/ 2238211/ 4027897/ 2234410/ 4189444 |
|
Mobile No.: |
91-9350186993 (Mr. Santosh Pandey) |
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Fax No.: |
91-129-4027897/ 2239211/ 2230276 |
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E-Mail : |
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|
Website : |
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|
Area : |
4500 sq ft |
|
Location : |
Owned |
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|
|
|
Factory : |
70/ 71/ 72 Mushajer, Sector 24, |
|
Area : |
1500 sq ft |
|
Location : |
Owned |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Chand Narayan Chopra |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
House No. 2285, Sector – 9, |
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Date of Birth/ Age : |
06.01.1949 |
|
Qualification : |
B. E., Mechanical |
|
Date of Appointment : |
27.03.2002 |
|
DIN No.: |
00370225 |
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|
|
|
Name : |
Mr. Amit Chopra |
|
Designation : |
Director |
|
Address : |
House No. 2285, Sector – 9, |
|
Date of Birth/ Age : |
28.12.1977 |
|
Qualification : |
Architecture |
|
Date of Appointment : |
05.03.2004 |
|
DIN No.: |
01017209 |
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|
|
|
Name : |
Mr. Sumit Chopra |
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Designation : |
Director |
|
Address : |
House No. 2285, Sector – 9, |
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Date of Birth/ Age : |
30.09.1980 |
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Qualification : |
Dr. Cardiologist |
|
Date of Appointment : |
05.03.2004 |
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DIN No.: |
02474576 |
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|
|
|
Name : |
Mr. Veer Prakash Chopra |
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Designation : |
Director |
|
Address : |
House No. 2285, Sector – 9, |
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Date of Ceasing : |
07.03.2004 |
KEY EXECUTIVES
|
Name : |
P C Jain and Company |
|
Designation : |
Company Secretary |
|
Address: |
2382, Sector – 16, |
|
Tel No.: |
91-129-4088338 |
|
|
|
|
Name : |
Mr. Santosh Pandey |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Chand Narayan Chopra |
|
15000 |
|
Prem Nath Wadhwa |
|
100 |
|
Dharma Prakash Chopra |
|
100 |
|
Suman |
|
100 |
|
Sunita Agarwal |
|
100 |
|
Vineeta Kaur |
|
100 |
|
Amit Chopra |
|
2000 |
|
Sunit Chopra |
|
2000 |
|
Neena Chopra |
|
2000 |
|
Puja Chopra |
|
2000 |
|
Total
|
|
23500 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Garage Equipments and accessories. |
|
|
|
|
Products : |
v
Pneumatic Hanger v
Hydro Electric Ramps v
Engine Working Station v
Engine Jig v
Handle Bar, Front Shocker and Stem Checking Gauge v
Wheel Rim Truing Fixture v
Tools Trolley v
Tool Board v
Component Hanger v
Air Filter Cleaning Trolley v
Automatic Waste Oil Disposer v
v
Air Drying Unit v
Auto Controlled High Pressure Bike Washer v
Multi Jet Washer v
Digital Meter v
Safety Covers v
Special Service Tools v
Special Service Tool Kit v
Precision Sheet Metal Component |
GENERAL INFORMATION
|
Customers : |
v
Hero Honda Motors Limited v
Tvs Motors Company v
Bajaj Auto Limited v
Yamaha Motors India Private Limited v
Majestic Auto Limited v
Honda Siel Power Products Limited v
Gabriel India Limited v
Auto Fit Limited v
Auto Max Limited v
Jay Bharat Maruti Limited |
|
|
|
|
No. of Employees : |
Approximately 200 (Office – 45 and Factory – 155) |
|
|
|
|
Bankers : |
v
Canara Bank, SME Branch, v Citi Bank NA v
Bank of v
Corporation Bank, 1G/47 BP, NIT, v
Canara Bank, SSI Branch, v Standard Chartered Bank v HDFC Bank Limited |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Sanjay S. Gupta and Associates Chartered Accountants |
|
Address : |
H.No.1915, Sector – 16, |
|
|
|
|
Memberships : |
FSIA, SSI, ISO-9001:2000 |
CAPITAL STRUCTURE
As on 31.03.2010
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 |
|
23500 |
Equity Shares |
Rs.100/- each |
Rs.2.350 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 |
2.350 |
2.350 |
2.350 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
17.629 |
13.579 |
12.564 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
19.979 |
15.929 |
14.914 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
38.149 |
36.311 |
38.940 |
|
|
2] Unsecured Loans |
0.044 |
0.400 |
1.007 |
|
|
TOTAL BORROWING |
38.193 |
36.711 |
39.947 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
58.172 |
52.640 |
54.861 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
19.564 |
16.698 |
12.550 |
|
|
Capital work-in-progress |
0.123 |
0.088 |
0.088 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.022 |
0.412 |
0.081 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
14.080
|
16.799
|
6.094
|
|
|
Sundry Debtors |
62.436
|
44.259
|
46.424
|
|
|
Cash & Bank Balances |
2.936
|
3.154
|
6.240
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
3.070
|
2.713
|
1.814
|
|
Total
Current Assets |
82.522 |
66.925 |
60.572 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
39.461
|
27.895
|
16.049 |
|
|
Other Current Liabilities & Provisions |
4.598
|
3.589
|
2.381 |
|
Total
Current Liabilities |
44.059
|
31.483
|
18.430 |
|
|
Net Current Assets |
38.463
|
35.442
|
42.142 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
58.172 |
52.640 |
54.861 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
|
177.810 |
114.487 |
|
|
|
|
|
|
|
|
|
NET PROFIT |
|
4.438 |
1.124 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.12
|
4.28
|
3.91
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.87
|
2.13
|
3.29
|
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULTS:
During the year, the Company has achieved turnover from Rs.177.810
millions in comparison to previous year of Rs.114.487 millions. The Company
achieved a net profit of Rs.4.438 millions in comparison to previous year net
profit of Rs.1.124 millions.
The management is satisfied with the overall performance of the company
and looks forward to achieve much better results in the future.
FORM 8:
|
Corporate
identity number of the company |
U74140HR2002PTC034847 |
|
Name of the
company |
METAFAB ENGINEERS ( |
|
Address of the
registered office or of the principal place of business in |
Plot No. 299, Sector – 24, E-Mail: metafabindia@gmail.com |
|
This form is for |
Creation of
charge |
|
Type of charge |
v
Immovable Property v
Any interest in immovable property v
Book Debts v
Movable Property v
Floating Charge v
Others (Stock) |
|
Particular of
charge holder |
Corporation Bank, 1G/47 BP, NIT, E-Mail: cb479@corpbank.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
Common deed of
Hypothecation of Movables-Assets-Debts. |
|
Date of
instrument Creating the charge |
10.11.2010 |
|
Amount secured by
the charge |
Rs.47.500
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: 13.25% i.e. Base
rate (8.25%) + 5.00%. The Bank Reserve the right to revise the rate of
interest based on gradation or other reasons at the sole discretion of the
Bank at any point of time. Terms of
Repayment: CC- running
account repayable on demand subject to Annual renewal. Margin: Stock 25% Book debts 40% Extent and
Operation of the charge: EMG of Immovable
property in the name of Metafab Engineers ( EMG of Immovable
property in the name of Smt. Neena Chopra located at Plot No. 70, 71, 72
Vishwakarma Industries Complex, Mujjeswar, Faridabad Costing Rs.12.050
millions. Others: EMG of Immovable property
in the name of Shri Amit Chopra located at Plot No. 82, Vishwakarma
Industrial Complex, Mujjesar, Ballabhgarh/ |
|
Short particulars
of the property charged |
EMG of Immovable
property in the name of M/s Metafab Engineers ( EMG of Immovable
property in the name of Smt. Neena Chopra located at Plot No. 70, 71, 72
Vishwakarma Industries Complex, Mujjeswar, Faridabad Costing Rs.12.050
millions. EMG of Immovable
property in the name of Shri Amit Chopra located at Plot No. 82, Vishwakarma
Industrial Complex, Mujjesar, Ballabhgarh/ |
|
Corporate identity number (CIN) Foreign company registration number |
U74140HR2002PTC034847 |
|
Name of the Company |
METAFAB ENGINEERS INDIA PRIVATE LIMITED |
|
Address |
Plot No. 299, Sector – 24, |
|
This form is for |
Creation of Charge |
|
Type of Charge |
|
|
Particulars of the charge holder |
Bank of Nehru Ground, |
|
Nature of the instrument modifying charge |
Composites Hypothecation Agreement Dated 07.02.2008 for Cash Credit limit of Rs.35.000 Millions Copy of Memorandum of Entry property in the name of the company |
|
Date of Instrument charge |
07.02.2008 |
|
Amount secured by the charge |
Rs.350.000 Millions |
|
Brief of the principal terms and conditions |
Rate of Interests : 0.75% Below BPLR Terms of Repayment : As per the Agreement Margin : 25% Extent and operation
of the charge: Hypothecation of the Stock and Book Debts for Cash Credit Limits Equitable Mortgage of Property in the name of the company cash credit limits |
|
Short particular of the property charged |
Hypothecation of the Stock and Book Debts |
|
Name of the
company |
Metafab Engineers India Private Limited |
|
Presented By |
Metafab Engineers India Private Limited |
|
1) Date and description of instrument creating the change |
Cash Credit agreement Dated 28.02.2005. Agreement re advance against book debts as prime security dated 28.02.2005. |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.3.500 millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
The whole of the borrower present and future stock of raw material, goods in process of manufacturer and all finished manufactured goods and article together with all stores components and spares which now belong to or man hereafter from time to time during the continuance of this security belong to the borrower and which are or shall or may be brought in to or upon about the borrower’s factory, godown and or other premises at plot no 299 sector 24, Faridabad and
All of the borrower’s present and future book debts, outstanding moneys receivable, claims
bills right to or in movable properties and movable assets and which are not
due owing or payable or belonging to the borrower or which may at any time
hereafter during the belonging to the borrower in the courses of its
business. First charge on the items to secure cash credit com ODBD limit of Rs.3.500 millions interest to be charged @ 1.75% p.a.above the PLR with a minimum of 12.5% p.a or at such other enhanced or received or revised rate or rates as maybe specified by the bank form time to time. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
The company stands as one of the guarantor’s lot securing
various limits granted to Meta Max amounting to Rs.1.500 millions and
Metannee Engineers, and Traders amounting to Rs.1.500 millions by Canara
Bank, SS Branch, and |
|
5) Name and Address and description of the person entitled to the charge. |
Canara
Bank, SSI Branch, |
|
6) Date and brief description of instrument modifying the charge |
Supplemental Collateral Security Agreement dated 28.02.2005. Latter evidencing deposit of title deeds dated 28.02.2005. |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
The OCC cum ODBD limit of Rs.3.500 millions stand collaterally secured by all plant, machinery, tools, accessories and motor vehicles, tool and accessories already purchased and to be purchased with are erected to be erected / kept / parked or to be kept or in transform being erected at the promises in the occupation of the borrower at Plot No 299, Sector 24, Faridabad. Other terms and conditions remain the same. |
FIXED ASSETS:
v Land and Building
v Land
v Plant and Machinery
v Dies and Tools
v Electrical Installation
v Generator
v Vehicles
v Cycle
v Car
v Motor Cycle
v Furniture and Fixture
v Office Equipment
v Computers
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.44.72 |
|
|
1 |
Rs.73.47 |
|
Euro |
1 |
Rs.65.38 |
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 |
Yes |
|
--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.