MIRA
INFORM REPORT
|
Report Date : |
16.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
POWERMASTER TORQUE SYSTEMS PRIVATE LIMITED |
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|
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Registered
Office : |
229, Pragati Premises Co Op Soc. Ltd, 316 N M Joshi Marg,
Mumbai-400011, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
03.09.1986 |
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Com. Reg. No.: |
040821 |
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Capital
Investment / Paid-up Capital : |
Rs.0.139 Million |
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CIN No.: [Company Identification
No.] |
U74999MH1986PTC040821 |
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|
Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
-- |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Maximum Credit Limit : |
-- |
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|
|
|
Status : |
No Business Activity |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Though the company was incorporated in the year 1986, there was no
business activity in the company since its inception. The company received
only rental income through its premises. Payments are unknown. The company can be considered for business dealings on a safe and
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) |
|
India |
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 : |
229, Pragati Premises Co Op Soc. Ltd, 316 N M Joshi Marg,
Mumbai-400011, Maharashtra, India |
|
Tel. No.: |
91-22-23097699 |
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Fax No.: |
91-22.23073761 |
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E-Mail : |
DIRECTORS
AS ON 09.08.2011
|
Name : |
Mr. Sunder Lokusing Advani |
|
Designation : |
Director |
|
Address : |
19 Jalkiran G D Somani Marg, Cuffe Parad, Mumbai-400005, Maharashtra,
India |
|
Date of Birth/Age : |
16.01.1935 |
|
Date of Appointment : |
03.09.1986 |
Directorship in
Other Companies :
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U29305MH1971PTC015118
|
POWERMASTER
ENGINEERS PRIVATE LIMITED |
Managing
director |
21/04/1971 |
21/04/1971 |
- |
Active |
NO |
|
2 |
U29220MH1983PTC029781
|
POWERMASTER
TOOLS PVT LTD |
Director |
10/09/1983 |
10/09/1983 |
- |
Active |
NO |
|
3 |
U74999MH1986PTC040821
|
POWERMASTER TORQUE
SYSTEMS PVT LTD |
Director |
03/09/1986 |
03/09/1986 |
- |
Active |
NO |
|
Name : |
Mrs. Meena Sunder Advani |
|
Designation : |
Director |
|
Address : |
19 Jalkiran G D Somani Marg, Cuffe Parad, Mumbai-400005, Maharashtra,
India |
|
Date of Birth/Age : |
14.06.1948 |
|
Date of Appointment : |
03.09.1986 |
Directorship in
Other Companies :
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U29305MH1971PTC015118
|
POWERMASTER
ENGINEERS PRIVATE LIMITED |
Director |
27/04/1971 |
27/04/1971 |
- |
Active |
NO |
|
2 |
U29220MH1983PTC029781
|
POWERMASTER
TOOLS PVT LTD |
Director |
10/09/1983 |
10/09/1983 |
- |
Active |
NO |
|
3 |
U74999MH1986PTC040821
|
POWERMASTER
TORQUE SYSTEMS PVT LTD |
Director |
03/09/1986 |
03/09/1986 |
- |
Active |
NO |
|
Name : |
Mr. Dinesh Sunder Advani |
|
Designation : |
Director |
|
Address : |
6A Belvedere Court Sane Guruji Marg, Mumbi-400011, Maharashtra, India |
|
Date of Birth/Age : |
04.11.1970 |
|
Date of Appointment : |
10.06.1993 |
Directorship in
Other Companies :
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U29305MH1971PTC015118
|
POWERMASTER ENGINEERS
PRIVATE LIMITED |
Director |
17/05/1990 |
17/05/1990 |
- |
Active |
NO |
|
2 |
U29220MH1983PTC029781
|
POWERMASTER
TOOLS PVT LTD |
Director |
10/06/1993 |
10/06/1993 |
- |
Active |
NO |
|
3 |
U74999MH1986PTC040821
|
POWERMASTER TORQUE
SYSTEMS PVT LTD |
Director |
10/06/1993 |
10/06/1993 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 09.08.2011
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Sunder Lokusing Advani |
|
500 |
|
Mrs. Meena Sunder Advani |
|
1000 |
|
Powermaster Engineers Private Limited, India |
|
1000 |
|
Mr. Dinesh Sunder Advani |
|
7910 |
|
Mr. Sunder Lokusing Advani Jtly. Mrs. Meena Sunder Advani Jtly. Mr.
Dinesh Sunder Advani |
|
3500 |
|
Total |
|
13910 |
AS ON 09.08.2011
|
Category |
Percentage |
|
Bodies corporate |
7.19 |
|
Directors or relatives of Directors |
92.81 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
-- |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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|
Bankers : |
Not Available |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Dinesh Gandhi And Associates Chartered Accountant |
|
Address : |
301-A And 302-B, Aman Chambers, 113 Mama Pramanand Marg, Opera House,
Mumbai-400004, Maharashtra, India |
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|
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20000 |
Equity Shares |
Rs.10/- each |
Rs.0.200 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
13910 |
Equity Shares |
Rs.10/- each |
Rs.0.139
Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.139 |
0.139 |
0.139 |
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|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
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|
3] Reserves & Surplus |
0.116 |
0.053 |
0.006 |
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|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
0.255 |
0.192 |
0.145 |
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|
LOAN FUNDS |
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|
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|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
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|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
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TOTAL |
0.255 |
0.192 |
0.145 |
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|
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|
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.037 |
0.041 |
0.045 |
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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 |
0.001 |
0.001 |
0.001 |
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
0.250
|
0.182 |
0.110 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.003
|
0.001 |
0.001 |
|
Total
Current Assets |
0.253
|
0.183 |
0.111 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000
|
0.000 |
0.000 |
|
|
Other Current Liabilities |
0.020
|
0.011 |
0.006 |
|
|
Provisions |
0.016
|
0.022 |
0.006 |
|
Total
Current Liabilities |
0.036
|
0.033 |
0.012 |
|
|
Net Current Assets |
0.217
|
0.150 |
0.099 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
0.255 |
0.192 |
0.145 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Rent Received |
0.098 |
0.090 |
|
|
|
|
Interest of Fixed Deposit |
0.008 |
0.006 |
|
|
|
|
TOTAL (A) |
0.106 |
0.096 |
0.025 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Expenses |
0.023 |
0.022 |
0.011 |
|
|
|
TOTAL (B) |
0.023 |
0.022 |
0.011 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
0.083 |
0.074 |
0.014 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.083 |
0.074 |
0.014 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.004 |
0.005 |
0.005 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.079 |
0.069 |
0.009 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.016 |
0.022 |
0.006 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
0.063 |
0.047 |
0.003 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.053 |
0.006 |
NA |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Income Tax paid foe earlier year |
0.000 |
0.001 |
NA |
|
|
BALANCE CARRIED
TO THE B/S |
0.116 |
0.052 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
-- |
3.39 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
59.43
|
48.95 |
12.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
27.24
|
30.80 |
5.76 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30
|
0.36 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.14
|
0.36 |
0.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
7.02
|
5.54 |
9.25 |
LOCAL AGENCY FURTHER INFORMATION
Fixed Assets:
·
Land, Building And
Premises
·
Furniture And Fixtures
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 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.50.56 |
|
|
1 |
Rs.80.29 |
|
Euro |
1 |
Rs.68.78 |
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.