MIRA INFORM REPORT

 

 

Report Date :

23.09.2011

 

IDENTIFICATION DETAILS

 

Name :

APPLE BAKERY MACHINERY PRIVATE LIMITED

 

 

Registered Office :

14 A, Nisar Bhuvan Sle Ater Road, Grantroad (west), Mumbai – 400007, Maharashtra, India

 

 

Country :

India

 

 

Financials (as on) :

31.03.2009

 

 

Date of Incorporation  :

18.11.1998

 

 

Com. Reg. No.:

11-117134

 

 

Capital Investment / Paid-up Capital :

Rs.0.104 Million

 

 

CIN No.:

[Company Identification No.]

U29254MH1998PTC117134

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMA14553A

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Importer of Bakery Machinery.

 

 

No. of Employees :

20 [In Office] Approximately

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (45)

 

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 49000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

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)

India

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 [General Details]

 

Name :

Mr. Shekar

Designation :

Accounts Manager

Contact No. :

91-9820410775

Date :

03.09.2011

 

 

LOCATIONS

 

Registered Office :

14 A, Nisar Bhuvan Sleter Road, Grantroad (west), Mumbai – 400007, India

Tel. No.:

91-22-23852631 / 32532190

Fax No.:

91-22-23852629

E-Mail :

info@applebakerymachinery.in

 

 

 Office / Showroom :

201,1st Floor, Hansraj Damodar Wadi, Off Kennedy Bridge, Opera House, Mumbai – 400004, Maharashtra, India

Tel. No.:

91-22-23852629 / 32 / 33

E-Mail :

Bak2apple@yahoo.co.in

 

 

DIRECTORS

 

AS on 30.09.2010

 

Name :

Mr. Jaydeo Shantilal Chokhawala

Designation :

Director

Address :

14 A, Nisar Bhuvan Sle Ater Road, Grantroad (west), Mumbai – 400007, India

Date of Birth/Age :

01.05.1948

Date of Appointment :

18.11.1998

DIN :

01343520

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

U29254MH1998PTC117134

APPLE BAKERY MACHINERY PRIVATE LIMITED

Director

18/11/1998

18/11/1998

Active

NO

2

U15410MH2008PTC188325

APPLE BAKING EQUIPMENT PRIVATE LIMITED

Director

19/11/2008

19/11/2008

Active

NO

 

 

Name :

Mrs. Sarla Chokhawala

Designation :

Director

Address :

14 A, Nisar Bhuvan Sle Ater Road, Grantroad (west), Mumbai – 400007, India

Date of Birth/Age :

15.01.1948

Date of Appointment :

18.11.1998

DIN :

02251988

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

U29254MH1998PTC117134

APPLE BAKERY MACHINERY PRIVATE LIMITED

Director

18/11/1998

18/11/1998

Active

NO

2

U15410MH2008PTC188325

APPLE BAKING EQUIPMENT PRIVATE LIMITED

Director

19/11/2008

19/11/2008

Active

NO

 

 

Name :

Miss. Riddhi Chokhawala

Designation :

Director

Address :

14 A, Nisar Bhuvan Sle Ater Road, Grantroad (west), Mumbai – 400007, India

Date of Birth/Age :

14.11.1982

Date of Appointment :

18.11.1998

DIN :

02486418

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

U29254MH1998PTC117134

APPLE BAKERY MACHINERY PRIVATE LIMITED

Director

18/11/1998

18/11/1998

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Shekar

Designation :

Accounts Manager

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2010

 

Names of Shareholders

 

No. of Shares

Jaydeo S Chokhawala

 

510

Sarla J Chokhawala

 

510

Riddhi J Chokhawala

 

20

Total

 

1040

 

 

As on 30.09.2010

 

Category

Percentage

 

 

Directors or relatives of Directors

100.00

 

 

 

 

BUSINESS DETAILS

 

Line of Business :

Importer of Bakery Machinery

 

 

Imports :

 

Products :
  • Bakery Machinery 

Countries :
  • South Africa

 

 

Terms :

 

Selling :

Cash / Credit

 

 

Purchasing :

Cash / Credit

 

 

GENERAL INFORMATION

 

Suppliers :
  • Amar R Singh
  • Bhagwati Carriers Private Limited
  • Dee Bee Mechanical Industries
  • Gram Commercial A/S
  • Macadams
  • Maxcel Enterprise
  • Mazda Infotech Systems
  • Mungekar &Sons
  • Neotech Energysystem
  • Saffron Media Private Limited
  • Saluddin Ansari
  • Sentronics Powercontrols
  • Shree Wanan Warehouse And Transport
  • Sinmag Bakery Machine Corporation

 

Customers :

End Users

 

 

No. of Employees :

20 [In Office] Approximately

 

 

Bankers :
  • HDFC Bank, Grant Road, Mumbai
  • Andhra bank
  • Shamrao Vithal Cooperative Bank Limited

 

 

Facilities :

--

 

Auditors :

 

Name :

JRM and Assiociates

Chartered Accountant

Address :

53, Darashana Building, 2nd Floor, 24, Jambulwadi, Kalbadevi Road, Mumbai 400002, Maharashtra, India

Tel. No.:

91-22-22080176

Fax No.:

91-22-22078806

E-Mail :

jimitrm@vsnl.com

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2010

 

Authorised Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

10,000

Equity Shares

Rs.100/- each

Rs. 1.000 Million

 

 

 

              

 

Issued, Subscribed & Paid-up Capital :

 

No. of Shares

Name of Directors

Value

Amount

 

 

 

 

1,040

Equity Shares

Rs.100/- each

Rs.0.104 Million

 

 

 

 

 

 

 

 

 

                


 

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

0.104

0.104

0.104

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

12.239

8.157

5.420

4] (Accumulated Losses)

0.000

0.000

(0.006)

NETWORTH

12.343

8.261

5.524

LOAN FUNDS

 

 

 

1] Secured Loans

0.000

0.000

0.000

2] Unsecured Loans

0.000

0.000

0.060

TOTAL BORROWING

0.000

0.000

0.060

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

12.343

8.261

5.584

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

2.239

1.885

0.600

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.001

0.000

6.100

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
7.487
9.697

6.515

 

Sundry Debtors
3.723
3.070

2.845

 

Cash & Bank Balances
13.067
5.278

1.023

 

Other Current Assets
0.000

0.000

0.000

 

Loans & Advances
6.225
4.190

3.556

Total Current Assets
30.502
22.235

13.939

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
1.566

3.375

4.932

 

Other Current Liabilities
14.179
9.056

7.521

 

Provisions
4.654
3.428

2.605

Total Current Liabilities
20.399
15.859

15.058

Net Current Assets
10.103
6.376

[1.119]

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.003

 

 

 

 

TOTAL

12.343

8.261

5.584

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2010

31.03.2009

31.03.2008

 

 

 

 

 

 

SALES

 

 

 

 

                 Sales

64.034

56.193

54.635

 

                 Other Income

4.247

1.199

2.391

 

TOTAL INCOME

68.281

57.392

57.026

 

 

 

 

 

Less

EXPENSES

62.419

53.272

52.491

 

 

 

 

 

 

PROFIT BEFORE TAX

5.862

4.120

4.535

 

 

 

 

 

Less

TAX                                                                 

1.780

1.382

1.492

 

 

 

 

 

 

PROFIT AFTER TAX

4.082

2.738

3.043

 

 

 

 

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2010

31.03.2009

31.03.2008

PAT / Total Income

(%)
5.98
4.77

5.34

 

 
 
 

 

Net Profit Margin

(PBT/Sales)

(%)
9.15
7.33

8.30

 

 
 
 

 

Return on Total Assets

(PBT/Total Assets}

(%)
17.90
17.08

31.19

 

 
 
 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.47
0.50

0.82

 

 
 
 

 

Debt Equity Ratio

(Total Liability/Networth)

 
1.65
1.92

2.72

 

 
 
 

 

Current Ratio

(Current Asset/Current Liability)

 
1.49
1.40

0.92

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Business Plans and Performance:

 

The company has better business plans for the current year and has found better suppliers of machinery and at a better price. With this the company is confident of effecting sales competitively

 

Fixed Assets:

  • Computer
  • Furniture and fittings
  • Air Conditioner
  • Camera
  • EPABX
  • Fax Machine
  • Mobile
  • Motor Car
  • Office Renovation
  • Printer
  • Refrigerator

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.48.82

UK Pound

1

Rs.75.48

Euro

1

Rs.66.10

 

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

NO

--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

-

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.