MIRA
INFORM REPORT
|
Report Date : |
16.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
NEXUS PNEUMATICS PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
Gala No.5, Shreeji Industrial Estate, KT Industrial Park, Gauraipada,
Waliv, Vasai (East), Thane- 401208, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
13.08.2008 |
|
|
|
|
Com. Reg. No.: |
11-185814 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.100 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH2008PTC185814 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEN06859G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCN8302R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Importer of Pneumatic Components. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (15) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is relatively a new company having moderate track records. There
appears some accumulated losses recorded by the company. Profitability of the
company is under pressure. However, trade relations are reported as fair.
Business is active. Payments are reported to be slow. The company can be considered for business dealings on a secured 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
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 : |
Gala No.5, Shreeji Industrial Estate, KT Industrial Park, Gauraipada,
Waliv, Vasai (East), Thane – 401208, Maharasahtra, India |
|
Tel. No.: |
91-250-6055355/ 3244738 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Hitesh Rajnikant Panchal |
|
Designation : |
Director |
|
Address : |
4, Vidhya, Vidya Vinay Vivek Co-operative Housing Society, 185, |
|
Date of Birth/Age : |
20.02.1978 |
|
Date of Appointment : |
13.08.2008 |
|
DIN No.: |
02253737 |
|
|
|
|
Name : |
Mrs. Aabha Hitesh Panchal |
|
Designation : |
Director |
|
Address : |
4, Vidhya, Vidya Vinay Vivek Co-operative Housing Society, 185, |
|
Date of Birth/Age : |
04.08.1980 |
|
Date of Appointment : |
13.08.2008 |
|
DIN No.: |
02253719 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Hitesh Rajnikant Panchal |
|
5000 |
|
Aabha Hitesh Panchal |
|
5000 |
|
TOTAL |
|
10000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Importer of Pneumatic Components. |
|
|
|
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
NKGSB Co-operative Bank Limited, Shop No.2 and 3, Shree Niketan,
Opposite Railway Station, Vasai (West), Mumbai – 401202, |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Kalpesh Sunil and Associates Chartered Accountants |
|
Address : |
2, Naval Palace, |
|
Phone No.: |
91-22-26184862 |
|
Email : |
|
|
PAN.: |
AAJFK7097D |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.100 |
0.100 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
(2.659) |
(1.329) |
|
|
NETWORTH |
|
(2.559) |
(1.229) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.778 |
0.000 |
|
|
2] Unsecured Loans |
|
2.255 |
1.638 |
|
|
TOTAL BORROWING |
|
3.033 |
1.638 |
|
|
DEFERRED TAX LIABILITIES |
|
0.007 |
0.004 |
|
|
|
|
|
|
|
|
TOTAL |
|
0.481 |
0.413 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
1.197 |
0.252 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
1.384 |
1.365 |
|
|
Sundry Debtors |
|
1.347 |
0.569 |
|
|
Cash & Bank Balances |
|
0.003 |
0.087 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
0.216 |
0.696 |
|
Total
Current Assets |
|
2.950 |
2.717 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
1.805 |
2.356 |
|
|
Other Current Liabilities |
|
1.876 |
0.219 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
3.681 |
2.575 |
|
|
Net Current Assets |
|
(0.731) |
0.142 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.015 |
0.019 |
|
|
|
|
|
|
|
|
TOTAL |
|
0.481 |
0.413 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2010 |
|
|
|
|
|
|
|
|
TURNOVER |
|
|
5.151 |
|
|
|
|
|
|
|
|
NET PROFIT/
(LOSS) |
|
|
(1.407) |
|
|
PARTICULARS |
|
|
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
|
|
1.542 |
|
|
|
Commission on Sales |
|
|
0.511 |
|
|
|
TOTAL |
|
|
2.053 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
|
|
2.875 |
|
|
|
Operating, Administrative and Other
Expenses |
|
|
1.845 |
|
|
|
Preliminary Expenses |
|
|
0.005 |
|
|
|
Increase /Decrease in stock |
|
|
(1.365) |
|
|
|
TOTAL |
|
|
3.360 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
|
(1.307) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
|
0.018 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE/LOSS TAX |
|
|
(1.325) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
|
(1.325) |
|
|
|
|
|
|
|
|
|
|
PROVISION FOR
DEFERRED TAX ASSETS/LIABILITY |
|
|
0.004 |
|
|
|
|
|
|
|
|
|
|
Balance Carried
to the Balance Sheet |
|
|
(1.329) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
(132.50) |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
|
NA |
(64.54) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
NA |
(85.93) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
NA |
(44.63) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
NA |
1.08 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
(2.62) |
(3.43) |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
0.80 |
1.06 |
LOCAL AGENCY FURTHER INFORMATION
Notes: The registered office
address has been changed from 8/9, Shethi Industrial Estate, Suren Road,
Andheri (East), Mumbai 400093, Maharashtra, India to Present address w.e.f
01.01.2009.
FINANCIAL RESULT
During the year, the working of the company has achieved a turnover of
Rs. 5.151 millions. However, due to higher initial expenses it has resulted in
a net loss of Rs. 1.407 millions. The director expect a better performance and
more profitability in future.
FORM 8:
|
Corporate
identity number of the company |
U74999MH2008PTC185814 |
|
Name of the
company |
NEXUS PNEUMATICS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Gala No.5, Shreeji Industrial Estate, KT Industrial Park, Gauraipada,
Waliv, Vasai (East), Thane – 401208, Maharasahtra, India Email : hitesh@nexuspneumatics.com
|
|
This form is for |
Creation
of charge |
|
Type of charge |
Immovable
Property |
|
Particular of charge
holder |
NKGSB Co-operative Bank Limited, Shop No.2 and 3, Shree Niketan,
Opposite Railway Station, Vasai (West) Mumbai – 401202, Email : cmd@nkgsb-bank.com |
|
Nature of instrument
creating charge |
No instrument was
executed. However, the equitable mortgage has been created by way of deposits
of the title deeds. Over the immovable property more particularly described |
|
Date of
instrument Creating the charge |
07.07.2011 |
|
Amount secured by
the charge |
Rs. 2.410
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
: As may be
decided, from time to time, by the bank Terms of
Repayment : Margin : As may be
decided, from time to time, by the bank Extent and
operation of the charge: To secure due
repayment of the following credit facilities aggregating Rs. 2.410 millions
together with costs, charges, interest and expenses and othe monies due thereon,
guaranteed by the bank to the company. 1) Term loan l of Rs. 1.930 millions
(Purchase of Gala) 2) Term loan ll of Rs. 0.480 million
(Purchase/repairs of furniture and fixture) |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Gala no.3,
Adm78.18 sq.mtrs. equivalent to 841.62 sq.ft, on Ground Floor Industrial
Estate, VORA INDUSTRIAL COMPLEX, Situated at Vill-Gokhivare, Taluka Vasai,
District – Thane |
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] 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.50.08 |
|
|
1 |
Rs.80.29 |
|
Euro |
1 |
Rs.68.79 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
1 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
15 |
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.