MIRA
INFORM REPORT
|
Report Date : |
11.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
MONGIA TOOLTECH PRIVATE LIMITED (w.e.f. 16.04.2004) |
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Formerly Known
As : |
RAMANA MACHINERY COMPANY PRIVATE LIMITED |
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Registered
Office : |
R-634 TTC Industrial Area, Rabale, Belapur Road, Navi Mumbai – 400
706, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
26.12.1986 |
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Com. Reg. No.: |
11 – 42003 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U29292MH1986PTC042003 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM22509E |
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PAN No.: [Permanent Account No.] |
AAACR5759E |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Manufacturer of Extrusion Tools and Equipments |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 15000 |
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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 |
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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
|
Registered Office : |
R-634 TTC Industrial Area, Rabale, Belapur Road, Navi Mumbai – 400
706, Maharashtra, India |
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Tel. No.: |
91-22-27642536 / 37 / 38 |
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Fax No.: |
91-22-27642537 |
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E-Mail : |
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Website : |
http://www.mongia.net |
DIRECTORS
(AS ON 30.09.2010)
|
Name : |
Mr. Shyam Kashiram Mongia |
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Designation : |
Director |
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Address : |
1101/A, |
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Date of Birth/Age : |
09.06.1938 |
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Date of Appointment : |
10.12.2003 |
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DIN No.: |
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Name : |
Mr. Samir Shyam Mongia |
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Designation : |
Director |
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Address : |
1101/A, |
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Date of Birth/Age : |
11.05.1972 |
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Date of Appointment : |
10.12.2003 |
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DIN No.: |
00761600 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2010)
|
Names of Shareholders |
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No. of Shares |
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Shyam Mongia |
|
4000 |
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Samir Mongia |
|
3000 |
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Saroj Mongia |
|
1000 |
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Sanjay Mongia |
|
1000 |
|
Shyam Mongia [HUF] |
|
1000 |
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Total |
|
10000 |
(AS ON 30.09.2010)
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Category |
|
Percentage |
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Directors or relatives of directors |
|
100.00 |
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Total
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|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Extrusion Tools and Equipments |
PRODUCTION STATUS (AS ON 31.03.2010)
|
Particulars |
Unit |
Actual Production |
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|
Dies and Tools For Extruding Metal |
No. |
320 |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
· Oriental Bank of Commerce Mulund (West) Branch, Air Auto House, P.K Road, Mulund
(West), Mumbai - 400080, Maharashtra, India · ICICI Bank |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Gosar and Gosar Chartered Accountants |
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Address : |
7, Jamuna Sadan, Near Panch Rasta, |
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PAN No.: |
AAAFG1614L |
CAPITAL STRUCTURE
(AFTER –
30.09.2010)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Share |
Rs.10/- each |
Rs.2.500 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Share |
Rs.10/- each |
Rs.2.500 Millions |
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|
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(AS ON 30.09.2010)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
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|
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|
10000 |
Equity Share |
Rs.10/- each |
Rs.0.100 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Share |
Rs.10/- each |
Rs.0.100 Million |
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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 |
0.100 |
0.100 |
0.100 |
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|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
3.590 |
2.389 |
1.537 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3.690 |
2.489 |
1.637 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
7.040 |
6.302 |
3.051 |
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|
2] Unsecured Loans |
9.208 |
7.368 |
7.238 |
|
|
TOTAL BORROWING |
16.248 |
13.670 |
10.289 |
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DEFERRED TAX LIABILITIES |
1.623 |
1.257 |
0.961 |
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TOTAL |
21.561 |
17.416 |
12.887 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
19.058 |
15.506 |
10.342 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
1.300 |
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 |
2.645
|
5.142 |
7.064
|
|
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Sundry Debtors |
7.874
|
3.946 |
6.289
|
|
|
Cash & Bank Balances |
0.158
|
0.327 |
0.391
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
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Loans & Advances |
2.363
|
2.346 |
0.998 |
|
Total
Current Assets |
13.040
|
11.761 |
14.742 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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Sundry Creditor and Other Current Liabilities |
9.311
|
8.729 |
11.950
|
|
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Provisions |
2.526
|
1.122 |
0.247 |
|
Total
Current Liabilities |
11.837
|
9.851 |
12.197
|
|
|
Net Current Assets |
1.203
|
1.910 |
2.545
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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|
|
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TOTAL |
21.561 |
17.416 |
12.887 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
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|
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Revenue From Sales |
39.646 |
34.090 |
23.530 |
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|
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PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
4.607 |
3.609 |
2.941 |
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
1.671 |
1.587 |
1.023 |
|
|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
2.936 |
2.022 |
1.918 |
|
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|
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Less/ Add |
DEPRECIATION/
AMORTISATION |
1.083 |
0.741 |
0.502 |
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PROFIT BEFORE
TAX |
1.853 |
1.281 |
1.416 |
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Less |
TAX |
0.652 |
0.430 |
0.314 |
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|
|
|
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PROFIT AFTER TAX
|
1.201 |
0.851 |
1.102 |
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2.389 |
1.538 |
0.436 |
|
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|
|
|
|
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|
BALANCE CARRIED
TO THE B/S |
3.590 |
2.389 |
1.538 |
|
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|
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Earning in
Foreign Exchange |
8.511 |
11.184 |
NA |
|
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|
Earnings Per
Share (Rs.) |
120.10 |
85.13 |
110.15 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Net Profit Margin (PBT/Sales) |
(%) |
4.67
|
3.76 |
6.02 |
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.77
|
4.70 |
5.64 |
|
|
|
|
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.50
|
0.51 |
0.86 |
|
|
|
|
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
7.61
|
9.45 |
13.74 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.10
|
1.19 |
1.21 |
LOCAL AGENCY FURTHER INFORMATION
FORM: 8
|
Name of the company |
MONGIA TOOLTECH PRIVATE LIMITED |
|
Presented By |
Oriental Bank of
Commerce, Mulund West Branch, Mumbai – 400 080 |
|
1) Date and description of instrument creating the change |
28th
September 2005 Agreement of Term
Loan |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Rs.4.500 Millions |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
At the request of
the borrower, the Bank has sanctioned term loan of Rs.4.500 Millions. To
secure the due repayment of term loan and for interest and other charges
thereon. First charge and hypothecation over all present and future
Machineries of the company. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest rate at
9.00%p.a. calculated on daily balance due to the Bank in the said account and
charged on monthly rest or such other rates/rests as may be decided by the
bank from time to time Penal interest of
2.000% p.a. in addition to the above rate in case of default. Repayment of Term
loan in 57 mly instalments of Rs.0.097 Millions with monatorium period of 3
months Margin: 25% of
the hypothecated assets. |
|
5) Name and Address and description of the person entitled to the charge. |
Oriental Bank of Commerce,
Mulund West Branch, Air Auto House, P.K. Marg, Mumbai – 400 080, Maharashtra,
India |
|
6) Date and brief description of instrument modifying the charge |
NA |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
NA |
|
Corporate
identity number of the company |
U29292MH1986PTC042003 |
|
Name of the
company |
MONGIA TOOLTECH PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
R-634 TTC Industrial Area, Rabale, Belapur Road, Navi Mumbai – 400
706, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
80047444 |
|
Type of charge |
Any interest in immovable property |
|
Particular of
charge holder |
Oriental Bank of
Commerce, Mulund (West) Branch,
Air Auto House, P.K. Marg, Mulund (West), Mumbai – 400080, Maharashtra, India E-Mail: emailroc@rediffmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
No instrument –
Extension of Mortgage |
|
Date of
instrument Creating the charge |
10.03.2011 |
|
Amount secured by
the charge |
Rs.12.424
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest Rate or
such other rate as agreed between the Borrower Company and the Bank from time
to time. Penal Interest in addition to agreed rate in case of default. Terms of
Repayment Repayment, as
agreed between the Borrower Company and the Bank from time to time. Margin Margin, as agreed
between the Borrower Company and the Bank from time to time. Extent and
Operation of the charge At the request of
the Borrower the Bank has enhanced overall banking limits upto Rs.12.424
Millions against the continuation of first charge and Mortgage of lease hold
property rights on All that Piece and Parcel of land known as Plot no. R-634
in the TTC Indl. area, within the village limits of Rabale, Taluka and Reg.
Sub - District - Thane, containing by adm. 800 sq. meters, Navi Mumbai -
400701. See Annexure Total Charge
stands Modified upto Rs.12.424 Millions. |
|
Short particulars
of the property charged |
Mortgage of lease
hold property rights on All that Piece and Parcel of land known as Plot no. R-634
in the TTC Indl. area, Within the village limits of Rabale, Taluka and
Registration Sub - District – Thane,
containing by adm. 800 sq. meters, at Rabale, Navi Mumbai - 400701. |
|
Particulars of the present modification |
At the request of
the Borrower the Bank has enhanced overall banking limits upto Rs.12.424
Millions against the continuation of first charge and Mortgage of lease hold
property rights on All that Piece and Parcel of land known as Plot no. R-634
in the TTC Industrial area, within the village limits of Rabale, Taluka and
Reg. Sub - District - Thane, containing by adm. 800 sq. meters, Navi Mumbai -
400701. Total Charge
stands Modified upto Rs.12.424 Millions. |
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.49.07 |
|
|
1 |
Rs.76.65 |
|
Euro |
1 |
Rs.66.17 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.