MIRA
INFORM REPORT
|
Report Date : |
22.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
PRECISE ENGINEERING MODELS PRIVATE LIMITED (w.e.f. 15.07.2009) |
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|
|
|
Formerly Known
As : |
PRECISESCALE ENGINEERING MODELS PRIVATE LIMITED |
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Registered
Office : |
16, Premanagar, Outer Ring Road, Laggere, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
28.07.2008 |
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Com. Reg. No.: |
08-047319 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U29128KA2008PTC047319 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, exporter and importer of Engineering Scale Models. |
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No. of Employees
: |
15 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 240 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a successor of Precise Engineering, a partnership concern
started in the year 2002. Though the company was converted to a private limited
company in 2008, it started activities in the private limited company in
September 2010. Trade relations are reported as fair. Business is active.
Payments are reported to be slow. The company can be considered for business dealings with some caution.
|
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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Nityanand Mahale |
|
Designation : |
Director |
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Contact No.: |
91-9845396473 |
|
Date : |
19.09.2011 |
LOCATIONS
|
Registered Office / Factory : |
16, Premanagar, Outer Ring Road, Laggere, |
|
Tel. No.: |
91-80-65625233 |
|
Mobile No.: |
91-9845396473
(Mr. Nityanand Mahale) 91-98453 27469 (Mr.
Channarangaiah Srinivas) |
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Fax No.: |
91-80-28375233 |
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E-Mail : |
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Website : |
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Area : |
1500 Sq. Ft. |
|
Location : |
Rented |
DIRECTORS
As on 30.09.2010
|
Name : |
|
|
Designation : |
Director |
|
Address : |
No.681, 2nd Floor, 4th Crs, Mahalaxmi Layout, |
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Date of Birth/Age : |
25.11.1971 |
|
Qualification : |
B.E. (Mech) |
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Date of Appointment : |
28.07.2008 |
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DIN No.: |
Other Directorship
|
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 |
U29128KA2008PTC047319 |
PRECISE ENGINEERING
MODELS PRIVATE LIMITED |
Director |
28-07-08 |
28-07-08 |
- |
Active |
NO |
|
Name : |
Mr. Channarangaiah Srinivas |
|
Designation : |
Director |
|
Address : |
No.35, New No. 137, JJS Kaval, Shankar Nagar, |
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Date of Birth/Age : |
05.06.1976 |
|
Qualification : |
ITI, Trained |
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Date of Appointment : |
28.07.2008 |
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DIN No.: |
02105864 |
Other Directorship
|
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 |
U29128KA2008PTC047319 |
PRECISE
ENGINEERING MODELS PRIVATE LIMITED |
Director |
28-07-08 |
28-07-08 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Nityanand Pandu Mahale |
5000 |
50% |
|
Channarangaiah Srinivas |
5000 |
50% |
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|
|
|
|
Total |
10000 |
100% |
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, exporter and importer of Engineering Scale Models. |
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|
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|
Products : |
·
Miniature
Models ·
Exhibition
Models ·
Demonstration
Models ·
Prototype
Models ·
Working
Models ·
Plant
Models ·
Machine
Models ·
Transparent
Models ·
Defence
Models ·
Cut
Sectional Models ·
Architectural
Models ·
Topographical
Ground Models for Product Organizations ·
Power
Industry Organizations ·
Project
Industry Organizations ·
Engineering
models ·
Scale
Models ·
Micro
Models ·
Miniature
Models ·
Industrial
Models ·
Cut
Sectional Models ·
Demo
Mod Models ·
Model makers ·
Model Designers ·
Sectional Models ·
Micro Engineering Models ·
Down Engineering Models |
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Exports : |
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Products : |
Engineering Scale Models |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash Credit |
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Purchasing : |
L/C, Cash Credit |
GENERAL INFORMATION
|
Customers : |
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No. of Employees : |
15 (Approximately) |
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Bankers : |
Corporation Bank, |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Bpssy and Company Chartered Accountant |
|
Address : |
60/A, 13th Cross, Mahalakshmi Layout , |
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Tel. No.: |
91-80-23194782 |
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Mobile No.: |
91-9449090001 |
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E-Mail : |
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PAN.: |
AAJFB9442L |
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) |
|
(0.040) |
(0.020) |
|
|
NETWORTH |
|
0.060 |
0.080 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
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2] Unsecured Loans |
|
0.000 |
0.000 |
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TOTAL BORROWING |
|
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
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TOTAL |
|
0.060 |
0.080 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
0.000 |
0.000 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
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|
Inventories |
|
0.000 |
0.000 |
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Sundry Debtors |
|
0.000 |
0.000 |
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Cash & Bank Balances |
|
0.050 |
0.050 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
0.050 |
0.050 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
0.000 |
0.000 |
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Other Current Liabilities |
|
0.000 |
0.000 |
|
|
Provisions |
|
0.020 |
0.010 |
|
Total
Current Liabilities |
|
0.020 |
0.010 |
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|
Net Current Assets |
|
0.030 |
0.040 |
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MISCELLANEOUS EXPENSES |
|
0.030 |
0.040 |
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TOTAL |
|
0.060 |
0.080 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
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SALES |
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Turnover |
|
0.000 |
0.000 |
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EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
|
0.010 |
0.010 |
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PROFIT BEFORE
TAX |
|
(0.020) |
(0.020) |
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|
TAX |
|
0.000 |
0.000 |
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PROFIT AFTER TAX |
|
(0.020) |
(0.020) |
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Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
10.000 |
Expected Sales (2011-2012) : Rs.20.000 Millions
The above information has been parted by
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(40.00) |
(40.00) |
|
|
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
|
(0.33) |
(0.25) |
|
|
|
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|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
|
0.33 |
0.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
2.50 |
5.00 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULTS
AND OPERATIONS
The Company has not done any activity of sale or purchase due to some
problems. The Company had not done any sales during the year, but incurred a
net loss Rs.0.020 Million during the year. This is due to Audit fee and ROC
filling Charges. Resulting in loss. The Company has temporarily stopped its
activities until the further decision.
NOTE
The company changed its registered office from “No.35, (New No.137),
J.J.S. Kaval, Shankara Nagar, Bangalore – 560058, Karnataka, India” to “No.247,
Laggere Main Road, Chowdeswari Nagar, Bangalore – 560058, Karnataka, India”
w.e.f. 28.07.2008. The registered office has again shifted from “No.247,
Laggere Main Road, Chowdeswari Nagar, Bangalore – 560058, Karnataka, India” to
“16, Premanagar, Outer Ring Road, Laggere, Bangalore – 560058, Karnataka,
India” w.e.f.6.10.2010
WEBSITE DETAILS
PROFILE
Subject is a leading brand in high quality micro-models of
large and complex engineering products and systems. A majority of the Micro
models are custom built, as a solution to meet specific visualization needs of
clients. These type of models require a close collaboration with the client. To
meet certain immediate needs of clients, some generic models are also available
off-the-shelf and they can be ordered online.
Subject
employs robust development process and a rare skill-set comprising
visualization, engineering and miniaturization, to build micro-models that
match closest to the design elements and aesthetics of the actual object. Its
development process is customer centric that starts with understanding of
clients need and it follows a strict engineering discipline, that enhances
details of critical design elements. The process has well defined stages of
need analysis, detailed engineering, procurement, manufacturing, inspection,
special packing and shipping.
Subject
is committed to quality and engineering precision across its delivery chain and
is proud of its clientele that is a global honorable list of who’s who in
engineering product, system and project industries.
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.47.89 |
|
|
1 |
Rs.75.31 |
|
Euro |
1 |
Rs.65.64 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--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 |
- |
|
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 |
YES |
|
--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.