MIRA
INFORM REPORT
|
Report Date : |
20.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
PIMCO MACHINES PRIVATE LIMITED |
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Registered
Office : |
41, Veena Dalvia Industrial Estate, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
04.09.1985 |
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Com. Reg. No.: |
11-37378 |
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Capital
Investment / Paid-up Capital : |
Rs.0.900 million |
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CIN No.: [Company Identification
No.] |
U29299MH1985PTC037378 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP16907C |
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PAN No.: [Permanent Account No.] |
AAACP2566M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturers of
Plastic Processing Machinery, Moulds and Dies |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (44) |
|
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 47000 |
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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.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office/Factory : |
41, Veena Dalvia Industrial Estate, |
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Tel No.: |
91-22-66955591 |
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Fax No.: |
91-22-29200351 |
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E-Mail : |
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Corporate Office : |
A28, Nand Dham, Marol Maroshir Roa, D-Andheri (E), Mumbai – 400 059, |
DIRECTORS
As on 25.09.2010
|
Name : |
Mr. Chandrakant Leharchand Nandwana |
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Designation : |
Director |
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Address : |
C-13, Jumbo Darshan, Koldongri Rond No.2, Andheri (East), Mumbai – 400
069, |
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Date of Birth/Age : |
08.03.1951 |
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Date of Appointment : |
28.08.1985 |
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DIN No. : |
00203715 |
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Name : |
Mr. Umesh Devshankar Oza |
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Designation : |
Director |
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Address : |
B-5, Panchasheel Apartment, Sir. |
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Date of Birth/Age : |
18.09.1962 |
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Date of Appointment : |
01.04.1995 |
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Name : |
Mr. Ravindran Valsala |
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Designation : |
Director |
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Address : |
183-A, Adarsh Nagar, Aarey Milk Colony, Goregaon (East), Mumbai – 400
065, |
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Date of Birth/Age : |
20.03.1962 |
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Date of Appointment : |
01.04.1995 |
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DIN No. : |
00227291 |
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Name : |
Mr. Vinay Chandrakant Nandwana |
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Designation : |
Director |
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Address : |
C-13, Jumbo Darshan, Koldongri Rond No.2, Andheri (East), Mumbai – 400
069, |
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Date of Birth/Age : |
30.05.1976 |
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Date of Appointment : |
08.09.2000 |
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DIN No. : |
00209340 |
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Name : |
Mr. Vipul Chandrakant Nandwana |
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Designation : |
Director |
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Address : |
C-13, Jumbo Darshan, Koldongri Rond No.2, Andheri (East), Mumbai – 400
069, |
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Date of Birth/Age : |
11.12.1977 |
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Date of Appointment : |
07.02.2003 |
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DIN No. : |
00209400 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Chandrakant Leharchand Nandwana |
|
2320 |
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Khandubhai Baberbhai Patel |
|
175 |
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Jasrai Shrikishan Bohra |
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40 |
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Niranjana Chandrakant Nandwana |
|
2135 |
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Bhailad Jagjivan Bhai Manilal |
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10 |
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Vipul Chandrakant Nandwana |
|
2010 |
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Rupal Chandrakant Nandwana |
|
100 |
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Vinay Chandrakant Nandwana |
|
2010 |
|
Dhanuben Kandubhai Patel |
|
100 |
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Umesh Devshankar Oza |
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50 |
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Ravindran Valsala |
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50 |
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Total |
|
9000 |
As on 25.09.2010
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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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 : |
Manufacturers of
Plastic Processing Machinery, Moulds and Dies |
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Products : |
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GENERAL INFORMATION
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Bankers : |
·
Dena Bank, ·
Dena Bank, Marol ·
UBI Bank, Oshiwara |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Sarda and Pareek Chartered Accountant |
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Address : |
Mahavir Apartment, 3rd Floor, 598 M G Road, Near Suncity
Cinema, Vile Parle (East), Mumbai – 400 057, |
CAPITAL STRUCTURE
As on 25.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
9000 |
Equity Shares |
Rs.100/- each |
Rs.0.900 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.900 |
0.900 |
0.900 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
10.936 |
9.768 |
9.571 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
11.836 |
10.668 |
10.471 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.050 |
0.050 |
0.050 |
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TOTAL BORROWING |
0.050 |
0.050 |
0.050 |
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DEFERRED TAX LIABILITIES |
0.009 |
0.083 |
0.090 |
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TOTAL |
11.895 |
10.801 |
10.611 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.464 |
1.781 |
1.542 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
8.521
|
9.647 |
7.047 |
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Sundry Debtors |
0.572
|
0.815 |
0.835 |
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Cash & Bank Balances |
6.830
|
3.872 |
2.867 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
1.310
|
0.633 |
0.629 |
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Total
Current Assets |
17.233
|
14.967 |
11.378 |
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|
Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
1.329
|
1.687 |
0.532 |
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Other Current Liabilities |
4.509
|
3.896 |
1.598 |
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Provisions |
0.964
|
0.364 |
0.179 |
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Total
Current Liabilities |
6.802
|
5.947 |
2.309 |
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Net Current Assets |
10.431
|
9.020 |
9.069 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
11.895 |
10.801 |
10.611 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
30.429 |
23.111 |
20.251 |
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Other Income |
0.383 |
0.296 |
1.127 |
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TOTAL |
30.812 |
23.407 |
21.378 |
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EXPENSES |
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Office Expenses |
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|
21.025 |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
29.114 |
23.032 |
21.025 |
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PROFIT BEFORE
TAX (E-F) |
1.698 |
0.375 |
0.353 |
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TAX |
0.530 |
0.178 |
0.150 |
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PROFIT AFTER TAX
(G-H) |
1.168 |
0.197 |
0.203 |
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PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.768 |
2.471 |
2.267 |
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APPROPRIATIONS |
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Transferred to General Reserve |
1.000 |
1.900 |
0.000 |
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BALANCE CARRIED
TO THE B/S |
0.936 |
0.768 |
2.470 |
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Earnings Per
Share (Rs.) |
129.78 |
26.34 |
22.65 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
3.79
|
0.84 |
0.95 |
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Net Profit Margin (PBT/Sales) |
(%) |
5.58
|
1.62 |
1.74 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
9.08
|
2.24 |
2.73 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.04 |
0.03 |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.58
|
0.56 |
0.23 |
|
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Current Ratio (Current Asset/Current Liability) |
|
2.53
|
2.52 |
4.93 |
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE
During the year the turnover of the company increased to Rs.30.429
millions against Rs.23.111 millions in the previous year. Profit before tax was
1.698 millions against profit of Rs.0.375 million in the previous year. The
company is able to maintain the standard quality of the products and make it
available to the general public at affordable prices in the near future.
FIXED ASSETS
·
Land
·
Building Premises
·
Plant and Machinery
·
Office Equipment
·
Computer
·
Furniture and Fixtures
·
Motor 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.44.93 |
|
|
1 |
Rs.72.43 |
|
Euro |
1 |
Rs.63.62 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
44 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.