MIRA
INFORM REPORT
|
Report Date : |
14.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
PATEL’S ANALOG AND DIGITAL MEASUREMENT COMPANY
PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A 6, Functional Electronic Estate, Bhosari Industrial Area, Pune – 411
026, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
06.08.1984 |
|
|
|
|
Com. Reg. No.: |
25-33666 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U33129MH1984PTC033666 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEP08253A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and supplier of all kinds of Coil Winding Machine,
Bushing Winding Machine, Toroidal Winding Machine, Rotor Winding Machine,
VT/PT Winding Machine, etc |
|
|
|
|
No. of Employees
: |
22 Approximately |
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 57000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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|
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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) |
|
|
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. Prasad D Aranke |
|
Designation : |
Commercial Manager |
|
Contact No.: |
91-9422088129 |
|
Date : |
31.08.2011 |
LOCATIONS
|
Registered Office : |
A 6, Functional Electronic Estate, Bhosari Industrial Area, Pune – 411
026, |
|
Tel. No.: |
91-20-27120290 / 27120324 |
|
Mobile No.: |
91-9422088129 (Mr. Prasad D Aranke) |
|
Fax No.: |
91-20-27122043 |
|
E-Mail : |
|
|
Website : |
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|
Location : |
Owned |
|
|
|
|
Factory : |
Bhosari, Pune, |
|
Location : |
Owned |
DIRECTORS
As on 12.08.2011
|
Name : |
Mr. Madhusudan Purshottam Patel |
|
Designation : |
Managing Director |
|
Address : |
A/6, Functional Electronic Estate, Bhosari Industrial Area, Pune –
411026, |
|
Date of Birth/Age : |
03.03.1936 |
|
Date of Appointment : |
08.08.1984 |
|
DIN No.: |
00860315 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of appointment
at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U33129MH1984PTC033666 |
Patel's Analog
And Digital Measurement Co. Private Limited |
Managing
director |
06-08-84 |
06-08-84 |
Active |
NO |
|
2 |
U29299PN2005PTC020923 |
Patel - Janz
Solar Energy Solutions Company Private Limited |
Director |
23-06-05 |
23-06-05 |
Strike off |
NO |
|
3 |
U72200PN2006PTC021924 |
Dr. Patel
Infotech and Technologies Private Limited |
Director |
31-01-06 |
31-01-06 |
Strike off |
NO |
|
4 |
U40108PN2008PLC132109 |
Vivvid Renewable
Energies Limited |
Director |
27-05-08 |
27-05-08 |
Under Process of
Striking off |
NO |
|
5 |
U31102MH1987PTC042470 |
Trans Coils
Private Limited |
Director |
12-08-11 |
28-03-11 |
Active |
NO |
|
Name : |
Ms. Arlene Alfred Rogers |
|
Designation : |
Director |
|
Address : |
A/6, Functional Electronic Estate, Bhosari Industrial Area, Pune –
411026, |
|
Date of Birth/Age : |
15.06.1955 |
|
Date of Appointment : |
08.08.1984 |
|
DIN No.: |
00860351 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U33129MH1984PTC033666 |
Patel's Analog
And Digital Measurement Co. Private Limited |
Director |
06-08-84 |
06-08-84 |
Active |
NO |
|
2 |
U72200PN2006PTC021924 |
Dr. Patel
Infotech and Technologies Private Limited |
Director |
31-01-06 |
31-01-06 |
Strike off |
NO |
|
Name : |
Mr. Prasad Dattatray Aranke |
|
Designation : |
Director |
|
Address : |
478/A, Shaniwar Peth, Om Apartments, Pune – 411030, |
|
Date of Birth/Age : |
21.12.1970 |
|
Date of Appointment : |
30.05.2003 |
|
DIN No.: |
00860399 |
Other Directorship
|
S.No. |
CIN |
Name of the
Company |
Current
designation of the director |
Date of
appointment at current designation |
Original date of
appointment |
Company Status |
Defaulting
status |
|
1 |
U31102MH1987PTC042470 |
Trans Coils
Private Limited |
Director |
30-05-03 |
30-05-03 |
Active |
NO |
|
2 |
U33129MH1984PTC033666 |
Patel's Analog
And Digital Measurement Co. Private Limited |
Director |
30-05-03 |
30-05-03 |
Active |
NO |
|
3 |
U29299PN2005PTC020923 |
Patel - Janz
Solar Energy Solutions Company Private Limited |
Director |
23-06-05 |
23-06-05 |
Strike off |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 12.08.2011
|
Names of Shareholders |
|
No. of Shares |
|
Madhusudan Patel, Ketan Patel and Hina McKinney |
|
150 |
|
Madhusudan Patel, Ketan Patel and Hina McKinney |
|
2850 |
|
Madhusudan Patel, Hina McKinney and Ketan Patel |
|
100 |
|
Madhusudan Patel, Hina McKinney and Ketan Patel |
|
400 |
|
Madhusudan Patel, Hina McKinney and Ketan Patel |
|
2500 |
|
Madhusudan Patel and Arlene Rogers |
|
2500 |
|
Madhusudan Patel and Hina McKinney |
|
2500 |
|
Madhusudan Patel and Ketan Patel |
|
1820 |
|
Madhusudan Patel and Ketan Patel |
|
2180 |
|
Madhusudan Patel, Prasad Aranke and Arlene Rogers |
|
2000 |
|
Arlene Rogers and Ketan Patel |
|
2155 |
|
Arlene Rogers and Ketan Patel |
|
845 |
|
Total |
|
20000 |
As on 12.08.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and supplier of all kinds of Coil Winding Machine, Bushing
Winding Machine, Toroidal Winding Machine, Rotor Winding Machine, VT/PT
Winding Machine, etc |
|
|
|
|
Products : |
·
Bushing Winding Machine ·
Diamond Coil Taping-Bench ·
Diamond Coil Taping-Gantry ·
Diamond Coil Taping-Tabletop ·
Edge on Winding Machine ·
Hairpin or R-Shape Conductor Taping Machine ·
Rotor Winding Machine ·
Superconducting Magnets and Winding Equipment ·
Toroidal Winding Machine ·
VT-PT Winding Machine |
|
|
|
|
Exports : |
|
|
Products : |
Machinery |
|
Countries : |
·
·
|
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Imports : |
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|
Products : |
Winding Machinery |
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Countries : |
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Terms : |
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|
Selling : |
L/C, Cash and Credit (30 days) |
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|
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|
Purchasing : |
L/C, Cash and Credit (30 days) |
GENERAL INFORMATION
|
Suppliers : |
·
Kunal Engineering ·
Shanta Enterprises ·
S D Bhope and Company ·
Sharp Industrial Services ·
Vaibhav Enterprises ·
Rohit Enterprises ·
Sai Sales Corporation ·
|
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Customers : |
·
End Users ·
Manufacturing Companies |
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No. of Employees : |
22 Approximately |
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Bankers : |
·
Canara Bank SME Branch, Kasarvadi, Pune – 411 034, ·
Cosmos C-Operative Bank ·
Union Bank of |
||||||||||||||||||||||||
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Facilities : |
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
M. N. Devi and Company Chartered Accountant |
|
Address : |
Office No. A - 15, |
CAPITAL STRUCTURE
As on 12.08.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20000 |
Equity Share |
Rs.100/- each |
Rs.2.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20000 |
Equity Share |
Rs.100/- each |
Rs.2.000
Millions |
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 |
2.000 |
2.000 |
2.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
12.355 |
9.855 |
9.460 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
14.355 |
11.855 |
11.460 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
10.095 |
13.483 |
1.288 |
|
|
2] Unsecured Loans |
0.000 |
0.085 |
0.362 |
|
|
TOTAL BORROWING |
10.095 |
13.568 |
1.650 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.003 |
0.035 |
|
|
|
|
|
|
|
|
TOTAL |
24.450 |
25.426 |
13.145 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
11.181 |
12.657 |
9.803 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.125 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000
|
|
|
Sundry Debtors |
3.488
|
0.038 |
0.022
|
|
|
Cash & Bank Balances |
1.000
|
0.350 |
0.375
|
|
|
Other Current Assets |
14.703
|
28.423 |
5.467
|
|
|
Loans & Advances |
0.840
|
0.915 |
0.408
|
|
Total
Current Assets |
20.031
|
29.726 |
6.272 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
0.114
|
0.744 |
2.370
|
|
|
Other Current Liabilities |
5.987
|
15.238 |
|
|
|
Provisions |
0.786
|
0.975 |
0.560
|
|
Total
Current Liabilities |
6.887
|
16.957 |
2.930
|
|
|
Net Current Assets |
13.144
|
12.769 |
3.342
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
24.450 |
25.426 |
13.145 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
33.980 |
|
|
|
|
|
Other Income |
0.440 |
|
|
|
|
|
TOTAL |
34.420 |
4.875 |
16.240 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
Operating Expenses |
30.248 |
3.094 |
14.626 |
|
|
|
TOTAL |
30.248 |
3.094 |
14.626 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
4.171 |
1.781 |
1.614 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
1.284 |
1.069 |
0.511 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
2.788 |
0.712 |
1.103 |
|
|
|
|
|
|
|
|
|
|
TAX |
0.288 |
0.317 |
0.394 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
2.500 |
0.395 |
0.709 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
125.00 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
7.26
|
8.10 |
4.37 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.20
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.93
|
1.68 |
6.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.06 |
0.10 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.18
|
2.57 |
0.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.91
|
1.75 |
2.14 |
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE
The performance of the company during the year was good. This year the
sales were Rs.33.980 millions and other income of Rs.0.440 million. After providing
for the operating expenses of Rs.30.636 millions and depreciation of Rs.1.284
millions, the company has reported Net profit after tax of Rs.2.500 millions
during the year.
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90088558 |
|
Corporate
identity number of the company |
U33129MH1984PTC033666 |
|
Name of the
company |
Patel's Analog
and Digital Measurement Company Private Limited |
|
Address of the
registered office or of the principal place of business in |
A/6, Functional
Electronic Estate, bhosari Industrial Area, Pune – 411026, Maharashtra, India |
|
Type of charge |
·
Movable
Property (Not being pledge) ·
Floating
Charge |
|
Particular of
charge holder |
Canara Bank SME
Branch, Kasarvadi, Pune – 411034, |
|
Nature of
description of the instrument creating or modifying the charge |
Supplementary
agreement |
|
Date of
instrument Creating the charge |
05.10.2009 |
|
Amount secured by
the charge |
Rs.31.300
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
: BPLR -1.25%
Presently at 10.75% Terms of Repayment
: On Demand Margin : 25% on stocks and
40% on Book Debts Extent and
Operation of the charge : OCC Rs.14.000
Millions and Bank Guarantee Rs.17.300 Millions |
|
Short particulars
of the property charged |
stock, book debts,
plant , machinery, factory land and building |
|
Date of latest
modification prior to the present modification |
27.05.2009 |
|
Particulars of
the present modification |
OCC Limits raised
from Rs.5.000 Millions to Rs.14.000 Millions. BG limits raised to Rs.17.300
Millions |
FIXED ASSETS
·
Building
·
Land
·
·
Furniture and Fixtures
·
UPS
·
Digital Camera
·
A G Grinder
·
Office Equipment
·
Plant and Machinery
·
Generator
·
Kinetic Scooter
·
Omni Car
·
Omni Car New
·
Suffire Scooter
·
Type Writer
·
Xerox Machine
·
Pimp
·
Versa Van
·
Printer
·
Computer and Software
·
Air Condition
·
Mercedies Benz
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.47.10 |
|
|
1 |
Rs.74.64 |
|
Euro |
1 |
Rs.64.42 |
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.