MIRA INFORM REPORT

 

 

Report Date :

04.05.2011

 

IDENTIFICATION DETAILS

 

Name :

AMKAY PRODUCTS PRIVATE LIMITED

 

 

Registered Office :

605, P.K. Niwas, S.V.Road, Vile Parle West, Mumbai- 400056, Maharashtra.

 

 

Country :

India

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

25.10.2007

 

 

Com. Reg. No.:

175403

 

 

CIN No.:

[Company Identification No.]

U51397MH2007PTC175403

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMA35092B

 

 

PAN No.:

[Permanent Account No.]

AAGCA6560N

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Exporter of Medical Disposable Products.

 

RATING & COMMENTS

 

MIRA’s Rating :

B (28)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 6000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track. Trade relations are fair. Business is active. Payments are reported to be slow but correct.

 

The company can be considered for business dealings with some cautions. 

 

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)

India

A1

A1

 

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. Yogish

Designation :

Accountant

Contact:

91-22-61317600

Date :

03.05.2011

 

 

LOCATIONS

 

Registered Office :

605, P.K. Niwas, S.V.Road, Vile Parle West, Mumbai- 400056, Maharashtra, India.

Tel. No.:

91-22-61317600

Fax No.:

91-22-26836188

E-Mail :

capareshrawal@yahoo.co.in

info@amkayproducts.com

bluestarsurgical@rediffmail.com

Website :

www.amkayproducts.com

Location :

Owned

 

 

Factory :

B / 15, 2nd Floor, Labella Society, Azad Road, Andheri (E), Mumbai – 400069, Maharashtra, India

Tel No. :

91-22-61317600

Fax No. :

91-22-26836188

Area :

600 Sq. Fts

Location :

Owned

 

 

DIRECTORS

 

AS ON 30.09.2010

 

Name :

Mr. Kashyap Pravinbhai Mody

Designation :

Director

Address :

605, P.K. Niwas, 6th Floor, S.V.Road, Vile Parle West, Mumbai- 400056, Maharashtra, India.

Date of Birth/Age :

23.03.1972

Qualification :

Graduate

Date of Appointment :

25.10.2007

 

 

Name :

Mr. Pravin Vrajlal Mody

Designation :

Director

Address :

605, P.K. Niwas, 6th Floor, S.V.Road, Vile Parle West, Mumbai- 400056, Maharashtra, India.

Date of Birth/Age :

30.05.1947

Qualification :

Under Graduate

Date of Appointment :

25.10.2007

 

 

KEY EXECUTIVES

 

Name :

Mr. Yogish

Designation :

Accountant

 

 

 

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2010

 

Names of Shareholders

No. of Shares

 

Mr. Kashyap Pravinbhai Mody

9500

Mr. Pravin Vrajlal Mody

500

 

 

Total

10000

 

 

LIST OF ALLOTEE

AS ON 05.01.2011

 

Names of Shareholders

No. of Shares

 

Mr. Hemanshu Batavia

3350

 

 

AS ON 30.09.2010

 

Equity Share Breakup

Percentage of Holding

Category

 

Directors or relatives of directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Medical Disposable Products.

 

 

Products :

 

 

Exports :

 

Products :

Medical Disposable Products

Countries :
  • Nepal
  • USA
  • Europe

 

 

Terms :

 

Selling :

Cash / Credit

 

 

Purchasing :

Cash / Credit

 

 

GENERAL INFORMATION

 

Suppliers:
  • Aastha Packaging
  • Ace Enterprises
  • Bharat Jyoti Impex
  • Eco Tech
  • Fine Boards
  • Ideal Dies and Engg. Works
  • Jalaram Refreshment
  • P. G. Foils Limited
  • Mansi Packaging
  • Yash Packaging

 

 

Customers :
  • Wholesalers
  • Ajay Surgicals
  • Anjali Sales
  • Aryan Enterprises
  • Bagga International
  • Bluestar Surgical Corp.
  • Classic Surgicals
  • Elite Traders
  • Famous Surgicals
  • Ganga Jamuna
  • Hari Om Surgicals
  • Hindustan Trading Company
  • Jindal and Company
  • K. P. Enterprises
  • Laxmi Surgicals
  • Medi World
  • New Metro Surgicals
  • Rahul Impex
  • Seth Pharma
  • Tanay Surgicals
  • United Surgical Traders
  • Western Surgicals
  • Mody Surgical Company
  • National Surgical Industries

 

 

No. of Employees :

25 Approximately

 

 

Bankers :

Union Bank of India, Andheri (W), Mumbai, Maharashtra, India

 

 

Facilities :

Unsecured Loans

31.03.2010

(Rs. In Millions)

31.03.2009

(Rs. In Millions)

H. K. Mody

0.300

0.100

Mind Space Valuation

0.000

0.300

Kashyap P Mody HUF

0.300

0.000

N. P. Mody HUF

0.000

0.200

P. V. Mody HUF

0.300

0.100

N. P. Mody

0.400

0.000

Tata Capital Limited

(secured against personal property of directors)

1.250

0.000

 

 

 

Total

2.550

0.700

 

Banking Relations :

----

 

 

Auditors :

 

Name :

Mr. Paresh Bhawarlal Rawal

Chartered Accountant

Address :

Satya Niwas, 1/16, B.S. Road, Near Gajanan Book Depot, Dadar West, Mumbai- 400028, Maharashtra, India.

Tel. No.:

91-22-65259656/ 24211180

Fax No.:

91-22-24211180

E-Mail :

capareshrawal@yahoo.co.in

 

 

CAPITAL STRUCTURE

 

AS ON 30.09.2010

 

Authorised Capital :

 

No. of Shares

Type

Value

Amount

20000

Equity Shares

Rs.100/- Each

Rs.2.000 Millions

 

 

Issued, Subscribed & Paid-up Capital :

 

No. of Shares

Type

Value

Amount

10000

Equity Shares

Rs.100/- Each

Rs.1.000 Million

 

 

 

 

 

 

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

1.000

1.000

0.600

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

0.499

0.233

0.052

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

1.499

1.233

0.652

LOAN FUNDS

 

 

 

1] Secured Loans

0.000

0.000

0.000

2] Unsecured Loans

2.550

0.700

0.093

TOTAL BORROWING

2.550

0.700

0.093

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

4.049

1.933

0.745

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

1.554

0.433

0.109

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.000

0.000

0.000

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
1.083

0.202

0.227

 

Sundry Debtors
8.145

2.779

0.444

 

Cash & Bank Balances
0.891

0.416

0.048

 

Other Current Assets
0.258

0.149

0.010

 

Loans & Advances
0.063

0.000

0.000

Total Current Assets
10.440

3.546

0.729

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors

7.425

1.922

NA

 

Current Liabilities
0.413

0.072

0.106

 

Provisions
0.125

0.073

0.014

Total Current Liabilities
7.963

2.067

0.120

Net Current Assets
2.477

1.479

0.609

 

 

 

 

MISCELLANEOUS EXPENSES

0.018

0.021

0.027

 

 

 

 

TOTAL

4.049

1.933

0.745

 

 

PROFIT & LOSS ACCOUNT

 

PARTICULARS

31.03.2010

31.03.2009

31.03.2008

 

 

 

 

SALES

NA

NA

NA

 

 

 

 

NET PROFIT FOR THE YEAR

0.266

0.081

0.052

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2010

31.03.2009

31.03.2008

Debt Equity Ratio

(Total Liability/Networth)

 
7.01

2.24

0.33

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
1.31

1.72

6.07

 

 

LOCAL AGENCY FURTHER INFORMATION

 

FINANCIALS RESULTS:

The profit and loss account of the company shows a net profit amounting Rs. 0.266 million.

 

GENERAL REVIEW

The directors are pleased to inform the three fold growth in Net Profit as compared to previous financial year. The company has achieved higher turnover as well it has maintained the net margins. The directors are hopeful that the company shall be able to achieve higher target of Net Profit in the year to come. The future of the company seems to be bright to conserve the resources for the company. The directors do not recommend dividend for the current year.

 

TRADE REFERENCE:

  • Hospitality
  • Clinics

 

FIXED ASSETS:

 

  • Air Conditioner – LG
  • Barcode Printer
  • Computer
  • EPBAX
  • F. F Filling Machine
  • FFS Machine
  • Plant and Machinery
  • Printer
  • Refrigerator
  • Weighing Machine

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.44.34

UK Pound

1

Rs.73.69

Euro

1

Rs.65.75

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILIRY

1~10

4

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

2

--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

 

28

 

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

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.