MIRA
INFORM REPORT
|
Report Date : |
26.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
CHRYSTEC MACHINE TOOLS PRIVATE LIMITED |
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Registered
Office : |
F-1, Farhaan Centre, 24/1, Norris Road, Richmond Town,
Bangalore-560025, Karnataka |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
09.10.2009 |
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Com. Reg. No.: |
08-051153 |
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Capital
Investment / Paid-up Capital : |
Rs. 1.000 Million |
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CIN No.: [Company Identification
No.] |
U29242KA2009PRC051153 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BLRC09461E |
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PAN No.: [Permanent Account No.] |
AADCC7680E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is to provide consultancy service in the field of light,
medium and heavy Engineering machinery, engineering design, turnkey projects
and to provide engineering and project consultancy services to foreign and
Indian buyers, sellers, exporters, importers, manufacturers, traders,
enterprises in all fields |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 4000 |
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Status : |
New Company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a new company establishing itself gradually. Trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. The company can be considered for business dealings with some caution.
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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 |
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Risk Category |
ECGC
Classification |
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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
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Registered Office / Sales Office : |
F-1, Farhaan Centre, 24/1, Norris Road, Richmond Town,
Bangalore-560025, Karnataka, India |
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Tel. No.: |
91-80-40927011 / 40927021 |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Sales Office : |
103, Winner’s Court, Lullanagar, Pune-411040, Maharashtra, India |
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Tel. No.: |
91-20-30527484 |
DIRECTORS
AS ON 24.09.2010
|
Name : |
Mr. Philip Andrew Mascarenhas |
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Designation : |
Chairman |
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Address : |
# 115, Shelter Apartments, Palmgrove Road, Viveknagar,
Bangalore-560047, Karnataka, India |
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Date of Birth/Age : |
15.08.1955 |
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Date of Appointment : |
09.10.2009 |
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DIN No.: |
02734047 |
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Name : |
Mr. Sunil Mukund Bharkhande |
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Designation : |
Director |
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Address : |
Flat No. 403/E3, Sunshree S N 20/2, Kondhwa Khurd, Pune-411048,
Maharashtra, India |
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Date of Birth/Age : |
07.08.1961 |
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Date of Appointment : |
09.10.2009 |
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DIN No.: |
02734732 |
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Name : |
Mr. Mohammad Rafique Isahaque Shaikh |
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Designation : |
Director |
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Address : |
Kumar Sansar G 603, Kondhwa Khurd, Taluka Haveli, Pune-411048,
Maharashtra, India |
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Date of Birth/Age : |
07.12.1952 |
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Date of Appointment : |
09.10.2009 |
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DIN No.: |
02738025 |
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Name : |
Mr. Jehangir Dinshaw Moogat |
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Designation : |
Director |
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Address : |
Esperance 978, Padumjee Park, Nana Peth, Pune-411002, Maharashtra,
India |
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Date of Birth/Age : |
02.05.1937 |
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Date of Appointment : |
09.10.2009 |
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DIN No.: |
02729213 |
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Name : |
Mr. Abdul Wahab Rafi Ahmed Kani
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Designation : |
Director |
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Address : |
SAK Manzil, 1 Balaji Nagar, Valsaravakam, Chennai-600087, Tamilnadu,
India |
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Date of Birth/Age : |
12.03.1960 |
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Date of Appointment : |
09.10.2009 |
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DIN No.: |
02728312 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 24.09.2010
|
Names of Shareholders |
No. of Shares |
|
Philip Andrew Mascarenhas |
51000 |
|
Sunil Mukund Bhatkhande |
12250 |
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Mohammad Rafique Isahaque Shaikh |
12250 |
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Abdul Wahab Rafi Ahmed Kani |
12250 |
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Jehangir Dinshaw Moogat |
12250 |
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Total
|
100000 |
AS ON 24.09.2010
|
Equity Shares
Break Up |
Percentage |
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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 : |
The Company is to provide consultancy service in the field of light,
medium and heavy Engineering machinery, engineering design, turnkey projects and
to provide engineering and project consultancy services to foreign and Indian
buyers, sellers, exporters, importers, manufacturers, traders, enterprises in
all fields |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
Not Available |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
ASA and Associates Chartered Accountant |
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Address : |
A-2, Ground Floor, Akruti Antara Apartments, No.11/1, Haudin Road,
Bangalore-560042, Karnataka, India |
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PAN No.: |
AAAFA4690A |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.10/- each |
Rs. 1.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
100000 |
Equity Shares |
Rs.10/- each |
Rs. 1.000 Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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|
31.03.2010 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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|
1.000 |
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2] Share Application Money |
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|
0.000 |
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3] Reserves & Surplus |
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|
0.076 |
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4] (Accumulated Losses) |
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|
0.000 |
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NETWORTH |
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|
1.076 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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0.000 |
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TOTAL BORROWING |
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0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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1.076 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.457 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.024 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
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Sundry Debtors |
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1.506 |
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Cash & Bank Balances |
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0.919 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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|
0.537 |
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Total
Current Assets |
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2.962 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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0.236 |
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Other Current Liabilities |
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2.521 |
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Provisions |
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|
0.211 |
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Total
Current Liabilities |
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2.968 |
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Net Current Assets |
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(0.006) |
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MISCELLANEOUS EXPENSES |
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0.601 |
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TOTAL |
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1.076 |
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PROFIT & LOSS
ACCOUNT
|
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PARTICULARS |
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|
31.03.2010 |
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SALES |
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Income |
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5.940 |
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TOTAL |
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5.940 |
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Less |
EXPENSES |
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Personal Expenses |
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3.890 |
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Administrative Expenses |
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1.752 |
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TOTAL |
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5.642 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
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|
0.298 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
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0.104 |
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PROFIT BEFORE
TAX |
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0.194 |
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Less |
TAX |
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0.118 |
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PROFIT AFTER TAX
|
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0.076 |
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BALANCE CARRIED
TO THE B/S |
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0.076 |
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Earnings Per
Share (Rs.) |
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KEY RATIOS
|
PARTICULARS |
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|
31.03.2010 |
|
PAT / Total Income |
(%) |
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1.28 |
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Net Profit Margin (PBT/Sales) |
(%) |
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3.27 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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5.63 |
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Return on Investment (ROI) (PBT/Networth) |
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0.18 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.76 |
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Current Ratio (Current Asset/Current Liability) |
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|
1.00 |
LOCAL AGENCY FURTHER INFORMATION
COMPANY OVERVIEW
Subject was incorporated on 9th October 2009. The principal
activity of the Company is to provide consultancy service in the field of light,
medium and heavy Engineering machinery, engineering design, turnkey projects
and to provide engineering and project consultancy services to foreign and
Indian buyers, sellers, exporters, importers, manufacturers, traders,
enterprises in all fields. The Company has its registered office in Bangalore.
FIXED ASSETS
·
Computers
·
Furniture and Fixtures
·
Office Equipment
·
Software
WEBSITE DETAILS
PROFILE
Subject incorporated in Bangalore in October 2009, started functioning effective January 2010, consequent to Voltas’ decision to come out of the Machine Tool business. The new company was created by a senior management team of former employees, to sustain over 50 years of fruitful partnerships with customers and machine tool technology leaders from Europe, Japan and USA, delivering cutting edge products to the manufacturing industry, backed by efficient sales, application engineering and service support
The company is head quartered in Bangalore, with a well balanced team of experienced personnel placed at major locations across the country. The transition to the new company being seamless has resulted in the successful takeover of responsibilities, with several new businesses developed within a short period in an exciting domestic market for engineering products and services.
The successful Enduring Relationships and good-will generated over several decades from our reputed principals and customers, delivering products with Cutting Edge Technologies, has given them the strength to make A New Beginning at Subject in a dynamic and challenging environment.
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 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. 52.16 |
|
|
1 |
Rs. 80.64 |
|
Euro |
1 |
Rs. 69.42 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
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|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
|
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|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
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--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 |
|
27 |
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.