MIRA
INFORM REPORT
|
Report Date : |
04.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
OMNI MATRIX PRIVATE LIMITED |
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|
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Registered
Office : |
# 48 K1 and K2, Doddaballapur Industrial Area, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
26.02.1996 |
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Com. Reg. No.: |
08-019925 |
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Capital
Investment / Paid-up Capital : |
Rs.13.546
Millions |
|
|
|
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CIN No.: [Company Identification
No.] |
U25201KA1996PTC019925 |
|
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLR001011D |
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PAN No.: [Permanent Account No.] |
AAAC03130G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Plastic Injection Molded Components. |
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No. of Employees
: |
Approximately 180 (In Office - 30, In Factory - 150) |
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 555000 |
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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
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office : |
# 48 K1 and K2, Doddaballapur Industrial Area, |
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Tel. No.: |
91-80-42438555/ 42438514 |
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Fax No.: |
91-80-42438590 |
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E-Mail : |
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Factory 1 : |
204, 12th Main, 3rd Phase, Peenya Industrial
Area, |
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Tel. No.: |
91-80-23200311 |
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Factory 2 : |
B-11, Bashetty Halli, Kasaba Hobli, Doddaballapura Industrial Area,
Doddaballapura, |
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Tel. No.: |
91-80-27630541/ 27630554 |
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Fax No.: |
91-80-27630541/ 27630554 |
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E-Mail : |
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Factory 3 : |
Tooling Unit B-9, Rajajinagar Industrial Estate, Rajajinagar, |
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Tel. No.: |
91-80-23200311 |
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Fax No.: |
91-80-23152757 |
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E-Mail : |
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Factory 4 : |
EOU Unit: B-14, Bashetty Halli, Kasaba Hobli, Doddaballapura Industrial Area,
Doddaballapura, |
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Tel. No.: |
91-80-27630541/ 27630554 |
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Fax No.: |
91-80-27630541/ 27630554 |
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E-Mail : |
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Factory 5 : |
Stamping Unit #32, SSI Area, Rajajinagar Industrial Estate, Rajajinagar, |
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Tel. No.: |
91-80-23151167 |
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E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Rajesh Hari Chabria |
|
Designation : |
Managing Director |
|
Address : |
Flat #1, Pine View Apartment, # 9, Edward Road, Queen’s Road Cross,
Bangalore – 560 052, Karnataka, India |
|
Date of Birth/Age : |
24.07.1961 |
|
Date of Appointment : |
26.02.1996 |
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DIN No.: |
00338065 |
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|
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Name : |
Mrs. Renu Chabria |
|
Designation : |
Director |
|
Address : |
Flat #1, Pine View Apartment, # 9, Edward Road, Queen’s Road Cross,
Bangalore – 560 052, Karnataka, India |
|
Date of Birth/Age : |
18.05.1967 |
|
Date of Appointment : |
26.02.1996 |
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DIN No.: |
00338176 |
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|
|
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Name : |
Mr. Aditya Rajesh Chabria |
|
Designation : |
Director |
|
Address : |
Flat #1, Pine View Apartment, # 9, Edward Road, Queen’s Road Cross, Bangalore
– 560 052, Karnataka, India |
|
Date of Birth/Age : |
10.12.1987 |
|
Date of Appointment : |
15.07.2006 |
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DIN No.: |
00338238 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Rajesh Chabria |
|
851350 |
|
Renu Chabria |
|
227000 |
|
Aditya Chabria |
|
276250 |
|
Total
|
|
1354600 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Plastic Injection Molded Components. |
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|
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GENERAL INFORMATION
|
No. of Employees : |
Approximately 180 (In Office - 30, In Factory - 150) |
|
|
|
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Bankers : |
The Shamrao
Vithal Co-Operative Bank Limited, Malleshwaram Branch, No.49/1, 5th
Cross, Malleshwaram, |
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|
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Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
Sreenivasan and Govardhan Chartered Accountants |
|
Address : |
# 24, V. Cross, Malleshwaram, |
|
PAN No.: |
AACFS5791A |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1354600 |
Equity Shares |
Rs.10/- each |
Rs.13.546
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 |
13.546 |
13.546 |
13.546 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
125.291 |
97.120 |
85.057 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
138.837 |
110.666 |
98.603 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
51.649 |
22.247 |
8.593 |
|
|
2] Unsecured Loans |
6.033 |
5.152 |
6.093 |
|
|
TOTAL BORROWING |
57.682 |
27.399 |
14.686 |
|
|
DEFERRED TAX LIABILITIES |
5.615 |
5.509 |
3.751 |
|
|
|
|
|
|
|
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TOTAL |
202.134 |
143.574 |
117.040 |
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|
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|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
120.949 |
62.506 |
55.349 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
30.404 |
38.754 |
29.215 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
24.044
|
25.986
|
|
|
Sundry Debtors |
|
44.872
|
30.961
|
|
|
Cash & Bank Balances |
|
16.769
|
8.778
|
|
|
Other Current Assets |
|
0.000
|
0.000
|
|
|
Loans, Deposits & Advances |
|
31.454
|
25.950
|
|
Total
Current Assets |
|
117.139
|
91.675
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
48.065
|
30.010
|
|
|
Other Current Liabilities |
|
21.174
|
25.520
|
|
|
Provisions |
|
5.586
|
3.669
|
|
Total
Current Liabilities |
|
74.825
|
59.199
|
|
|
Net Current Assets |
50.781
|
42.314
|
32.476
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
202.134 |
143.574 |
117.040 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Gross Turnover |
294.380 |
199.662 |
213.503 |
|
|
|
Other Income |
NA |
13.547 |
5.053 |
|
|
|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
22.023 |
22.382 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
NA |
6.004 |
9.321 |
|
|
|
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|
|
|
|
|
PROFIT BEFORE
TAX |
13.479 |
16.019 |
13.061 |
|
|
|
|
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|
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|
Less |
TAX |
2.748 |
3.956 |
1.494 |
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PROFIT AFTER TAX
|
10.731 |
12.063 |
11.411 |
|
|
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|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
82.587 |
71.175 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
NA |
94.650 |
82.587 |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
NA |
8.422 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.92 |
8.91 |
8.42 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
8.34
|
8.88
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10 |
0.14
|
0.13
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
NA |
0.92
|
0.74
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
NA |
1.57
|
1.54
|
LOCAL AGENCY FURTHER INFORMATION
Note:
The Registered Address of the company has been shifted from # 204, XII Main,
III Phase, Peenya Industrial Area, Bangalore – 560 058, Karnataka to the
present w.e.f. 25.10.2010.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U25201KA1996PTC019925 |
|
Name of the
company |
OMNI MATRIX PRIVATE
LIMITED |
|
Address of the
registered office or of the principal place of business in |
# 48 K1and K2, Doddaballapur Industrial Area, E-Mail: info@omnimatrixindia.com
|
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10255074 |
|
Type of charge |
Immovable
Property Book Debts Movable Property
(not being pledge) Others (Stocks, Machineries,
etc.) |
|
Particular of
charge holder |
The Shamrao
Vithal Co-Operative Bank Limited, Malleshwaram Branch, No.49/1, 5th
Cross, Malleswaram, E-Mail: h.jsurya@gmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
Composite
Hypothecation Agreement Recording letter
evidencing deposit of title deeds (Both the
documents relate to the same modification) |
|
Date of instrument
Creating the charge |
18.02.2012 |
|
Amount secured by
the charge |
Rs.87.700
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: OD: Interest @
PLR-2.75% = 14.25% p.a. TL (New):
Interest @ PLR-2.75% = 14.75% p.a. Terms of
Repayment: OD: Repayable on
demand TL (New): Total
Tenuure: 84 Months Repayable in 78 EMI of Rs.0.318 million after a moratorium
of 6 months Margin: OD : 40% Clean Supply
Bills Purchase : 25% TL (New) : 25% BG and LC : 10% Extent and
Operation of the charge: Charge extends by
way of first charge on all the assets throughout the period of sanctioned
limits. |
|
Short particulars
of the property charged |
Hypothecation of the
whole of the present and future stocks of raw materials, goods in process of
manufacture, finished goods, book debts, outstanding monies, receivables,
claims, bills, etc belonging to the company Hypothecation of
all tangible movable assets, assets imbedded in the earth, plant and
machinery, furniture, fixtures, fittings and other installation, civil work,
cranes, computers and other accessories vehicles together with spares tools
and accessories belonging to the company situated at Plot No. 48K1 and 48K2,
Yellapura, KIADB Industrial Area, Doddaballpur, Bangalore - 561 203, Plot No.
B-32, Rajajinagar, Industrial Area, Bangalore and Plot No. 14, Bashettihalli,
Kasaba Hobli, Doddaballapur, Industrial Area, Bangalore - 561 203 EM on company’s
immovable properties situated at Plot Nos. 48-K1 and 48-K2 of Doddaballapura
Industrial Area comprised in Sy. No. 42-P of |
|
Date of latest
modification prior to the present modification |
23.03.2011 |
|
Particulars of
the present modification |
Total limits modified
to Rs.87.700 millions. EM on company’s immovable properties situated at Plot
Nos. 48-K1 and 48-K2 of Doddaballapura Industrial Area comprised in Sy. No.
42-P of |
FIXED ASSETS:
v Buildings
v Computer Accessories
v Electrical Installations
v Factory Tools
v Furniture and Fittings
v Generator
v Measuring Investments
v Office Equipments
v Plant and Machinery
v Video Conferencing Equipment
v Vehicles
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.50.56 |
|
|
1 |
Rs.81.05 |
|
Euro |
1 |
Rs.67.49 |
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 |
YES |
|
--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.