MIRA
INFORM REPORT
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Report Date : |
03.04.2012 |
IDENTIFICATION DETAILS
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Name : |
GOLDIN ( |
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Registered Office : |
F – 29, B.I.D.C. Estate, Gorwa, Vadodara – 390 016, |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
02.08.1991 |
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Com. Reg. No.: |
04-16056 |
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Capital Investment / Paid-up Capital : |
Rs.0.500 Million |
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CIN No.: [Company
Identification No.] |
U32209GJ1991PTC016056 |
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IEC No.: |
3499001756 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BRDG00232B |
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PAN No.: [Permanent
Account No.] |
AAACG6847N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Clearing and Grading Machinery. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 26000 |
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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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
INFORMATION DECLINED BY
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Name : |
Mr. Satishkumar Patel |
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Designation : |
Director |
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Contact No.: |
91-9825061427 |
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Date : |
16.03.2012 |
LOCATIONS
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Registered Office : |
F – 29, B.I.D.C. Estate, Gorwa, Vadodara – 390 016, |
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Tel. No.: |
91-265-2280168 |
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Fax No.: |
91-265-2280168 |
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E-Mail : |
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Website : |
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Area : |
5000sq ft |
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Location : |
Owned |
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Factory : |
F – 15, B.I.D.C. Estate, Gorwa, Vadodara – 390 016, |
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Area : |
10000sq ft |
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Location : |
Owned |
DIRECTORS
As on 19.09.2011
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Name : |
Mr. Manibhai D. Patel |
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Designation : |
Director |
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Address : |
5, Arti Society, Near Hariom Nagar, |
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Date of Birth/Age : |
12.05.1946 |
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Qualification : |
Graduate |
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Date of Appointment : |
02.08.1991 |
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DIN No.: |
00326094 |
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Name : |
Mr. Satishkumar M. Patel |
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Designation : |
Director |
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Address : |
Near Arti Society, Near Hariom Nagar, |
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Date of Birth/Age : |
05.02.1973 |
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Qualification : |
Graduate |
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Date of Appointment : |
01.09.2007 |
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DIN No.: |
01771107 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 19.09.2011
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Names of Shareholders |
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No. of Shares |
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Manibhai D. Patel |
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8600 |
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Champaben M. Patel |
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4500 |
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Satishbhai M.
Patel |
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5000 |
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Nishaben M. Patel |
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1000 |
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Mayuriben M. Patel |
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1000 |
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Jayantibhai S.
Patel |
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5100 |
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Prabhakarbhai S.
Patel |
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5500 |
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Dineshbhai S.
Patel |
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2800 |
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Manibhai D. Patel |
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5000 |
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Patel Yogesh J |
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2500 |
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Shaileshbhai P.
Patel |
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2000 |
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Sitaben P. Patel |
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1500 |
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Kamlaben J. Patel |
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1500 |
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Vipulbhai P. Patel |
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2000 |
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Asmitbhai J. Patel |
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2000 |
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Total |
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50000 |
As on 19.09.2011
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Clearing and Grading Machinery. |
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Products : |
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%20EQUIPMENT%20PRIVATE%20LIMITED%20-%20172671%2003-Apr-2012_files/image001.gif){kind=small}
PRODUCTION STATUS
AS ON 31.03.2011
Installed Capacity:
Most of the Plant and Machinery being common for different product manufactured
by the company and installed capacity being depend on product which in then in
decided by the actual demand for various product from time to time and also an
availing of subcontract facilities, it is not feasible for the company to
indicate the exact installed capacity as certified by the production in charge
and accepted by the auditors.
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Particulars |
Actual
Production |
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Machineries |
50 |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
F.R. Sharma and Company Chartered Accountants |
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Address : |
1, Aavishkar Apartment, 2, Suvernpuri Society, |
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PAN No.: |
AGTPS7459J |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
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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 :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each
|
Rs.0.500
million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.500 |
0.500 |
0.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
6.006 |
5.315 |
3.413 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
6.506 |
5.815 |
3.913 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.051 |
0.591 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.051 |
0.591 |
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DEFERRED TAX LIABILITIES |
0.045 |
0.259 |
0.295 |
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TOTAL |
6.551 |
6.125 |
4.799 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.479 |
2.260 |
2.587 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.016 |
0.016 |
0.016 |
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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 |
4.779
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2.357
|
2.211 |
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Sundry Debtors |
3.106
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2.388
|
3.980 |
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Cash & Bank Balances |
2.324
|
1.499
|
0.504 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
2.803
|
3.962
|
2.938 |
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Total
Current Assets |
13.012
|
10.206
|
9.633 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
8.502
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5.888
|
6.792 |
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Current Liabilities |
0.000
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0.000
|
0000 |
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Provisions |
0.454
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0.469
|
0.645 |
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Total
Current Liabilities |
8.956
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6.357
|
7.437 |
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Net Current Assets |
4.056
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3.849
|
2.196 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
6.551 |
6.125 |
4.799 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
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Other Income |
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TOTAL |
23.676 |
39.927 |
26.406 |
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Less |
EXPENSES |
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TOTAL |
22.595 |
36.809 |
25.299 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1.081 |
3.118 |
1.107 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
0.311 |
0.363 |
0.206 |
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PROFIT BEFORE
TAX |
0.770 |
2.755 |
0.901 |
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Less |
TAX |
0.244 |
0.853 |
0.330 |
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PROFIT AFTER TAX
|
0.526 |
1.902 |
0.571 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
$ 00000 |
$ 52779 |
$ 27000 |
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TOTAL EARNINGS |
$ 00000 |
$
52779 |
$
27000 |
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Earnings Per
Share (Rs.) |
10.52 |
38.03 |
11.41 |
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%20EQUIPMENT%20PRIVATE%20LIMITED%20-%20172671%2003-Apr-2012_files/image002.gif){kind=small}
%20EQUIPMENT%20PRIVATE%20LIMITED%20-%20172671%2003-Apr-2012_files/image003.gif){kind=small}
%20EQUIPMENT%20PRIVATE%20LIMITED%20-%20172671%2003-Apr-2012_files/image004.gif){kind=small}
KEY RATIOS
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PARTICULARS |
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31.03.2011 |
31.03.2010 |
31.03.2009 |
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PAT / Total Income |
(%) |
2.22
|
4.76
|
2.16 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.97
|
22.10
|
7.37 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.12
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0.47
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0.23 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.38
|
1.10
|
2.05 |
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Current Ratio (Current Asset/Current Liability) |
|
1.45
|
1.60
|
1.29 |
LOCAL AGENCY FURTHER INFORMATION
REVIEW OF OPERATIONS:
The sales and other income have decreased to
Rs.23.676 Millions in the current year as compared to Rs.39.927 Millions of the
previous year. This year the company made profit before taxation and differed
tax of Rs.0.770 Million while in previous year there was profit of Rs.2.755
Millions
FIXED ASSETS:
- Land
- Plant and Machinery
- Electrical Installation in Factory
- Electric Fittings in Office
- Motor Car/ Scooter
- Furniture and Fixtures
- Computer
- Type Writer
- EPABX
- A.C. Machine and Air Cooler
WEBSITE DETAILS:
PROFILE:
The company manufactures and exports different kinds of hulling and oil mill machines for agro based industry and for varied other industrial purposes. The company gained instant recognition and ready acceptance throughout the world, with the help of its superior quality products.
They combine the skills of the employees, knowledge of engineers with quality
information and cutting edge technology to ensure that customer's expectations
are met. The machines are designed to maintain the high parameters of quality.
They also concentrate on total quality management. This programme includes
testing the raw materials and close observation of each and every stage of
manufacturing process. The state of the art Research and Development unit
assists the manufacturing units to produce innovative solutions meeting the exact
requirements of the customers.
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.51.16 |
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|
1 |
Rs.81.80 |
|
Euro |
1 |
Rs.68.34 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
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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 |
Unfavourable & favourable factors carry similar weight in credit
consideration. 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.