MIRA
INFORM REPORT
|
Report Date : |
07.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
POLLUTION PROTECTION SYSTEMS MUMBAI PRIVATE LIMITED |
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Registered
Office : |
226, Devendra Industrial Premises Cooperative Society Limited,
Lokmanya Nagar, Pada No. 2, Yashodhan Nagar, Thane – 400606, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
09.02.2000 |
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Com. Reg. No.: |
11-124148 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.900 million |
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CIN No.: [Company Identification
No.] |
U26900MH2000PTC124148 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP20576D |
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PAN No.: [Permanent Account No.] |
AACCPO700F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Design, develops, manufactures and supplies of cost effective instruments
and systems as well as services for gas detection and monitoring. |
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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 27000 |
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Status : |
Satisfactory |
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Payment Behavior : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track record.
Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitment. The company can be considered for small to mediocre business dealings
at usual trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION DECLINED BY
|
Name : |
Mr. Amit |
|
Designation : |
Office Executive |
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Date : |
06.04.2012 |
LOCATIONS
|
Registered Office/works; |
226, Devendra Industrial Premises Cooperative Society Limited,
Lokmanya Nagar, Pada No. 2, Yashodhan Nagar, Thane – 400606, Maharashtra,
India |
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Tel No; |
91-22-25856570/25883328 |
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Fax No.: |
91-22-25856570/25883328 |
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E-Mail : |
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Website : |
DIRECTORS
AS ON 26.09.2011
|
Name : |
Mr. Parag Yashavant Oak |
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Designation : |
Director |
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Address : |
10, Chandra Vijay Chs, Lokamanya Tilak Road, Mulund, Mumbai - 400081, Maharashtra, India |
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Date of Birth/Age : |
15.12.1966 |
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Date of Appointment : |
09.02.2000 |
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DIN No.: |
00917019 |
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Name : |
Mr. Pramod Nivrutti Sakunde |
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Designation : |
Director |
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Address : |
Shiv Darshan A-WING 2-1, Plot No.-04 Sector-8, Airoli, Navi Mumbai
-400708 Maharashtra. |
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Date of Birth/Age : |
01.06.1968 |
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Date of Appointment : |
09.02.2000 |
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DIN No.: |
00917051 |
KEY EXECUTIVES
|
Name : |
Mr. Amit |
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Designation : |
Office Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2011
|
Names of Shareholders |
No. of Shares |
|
Parag Yashwant Oak |
45000 |
|
Pramod Nivruti Sakunde |
45000 |
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Total |
90000 |
AS ON 26.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Design, develops, manufactures and supplies of cost effective
instruments and systems as well as services for gas detection and monitoring. |
GENERAL INFORMATION
|
Customers : |
·
Basf India
Limited ·
Aakash Road
Lines, Ahmadabad ·
Aarti
Industries Limited, Vapi ·
Abs
International Energy ·
Glaxo India
Limited., Ankleshwar ·
Asian
Paints Limited. – Oman ·
Asian
Paints Limited. – Taloja ·
Hindustan Organics
Chemicals Limited ·
Aquachem
Enviro ·
Behr India
Limited. Pune ·
Indian
Steels Corporation Limited. – Kutch ·
Cmi Fpe
Limited ·
Consulting
Engrs ·
Claris Life
Sciences Limited ·
Envirotech
Instruments, New Delhi ·
Gadarak Lab
Private Limited – Vikhroli ·
Neerja Engineering,
Borivali, Mumbai ·
Nrb
Bearings Limited., Jalna ·
Mytc
Offshore S.A.L., Syria ·
Finolex
Industries Limited., Ratnagiri ·
Neo Power
Electronics Private Limited |
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No. of Employees : |
Not Available |
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Bankers : |
Bank of Maharashtra Sachin Society, Mithagar Road, Mulund (East),
Mumbai-400081 Maharashtra, India. |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Sachdev and Associate Chartered Accountant |
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Address : |
2nd Floor, Royal Chambers, Old Mumbai Road, Thane – 400601
Maharashtra, India. |
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Tel. No.: |
91-22-25391914/25423354 |
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PAN.: |
ABAPS7437E |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
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100,000 |
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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90000 |
Equity Shares |
Rs.10/- each |
Rs.0.900
million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
0.900 |
0.203 |
0.203 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
5.959 |
4.823 |
3.580 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
6.859 |
5.026 |
3.783 |
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LOAN FUNDS |
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1] Secured Loans |
2.675 |
2.833 |
1.545 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
2.675 |
2.833 |
1.545 |
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DEFERRED TAX LIABILITIES |
0.056 |
0.039 |
0.00 |
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TOTAL |
9.590 |
7.898 |
5.328 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.238 |
1.030 |
1.124 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.001 |
0.001 |
0.001 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.045 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
5.265
|
3.990 |
2.007 |
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Sundry Debtors |
8.607
|
5.675 |
3.535 |
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Cash & Bank Balances |
0.896
|
0.911 |
1.148 |
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Other Current Assets |
2.035
|
1.651 |
1.065 |
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Loans & Advances |
0.310
|
0.026 |
0.111 |
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Total
Current Assets |
17.113
|
12.253 |
7.866 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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Other Current Liabilities |
5.983
|
3.364 |
1.834 |
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Provisions |
2.779
|
2.022 |
1.874 |
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Total
Current Liabilities |
8.762
|
5.386 |
3.708 |
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Net Current Assets |
8.351
|
6.867 |
4.158 |
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MISCELLANEOUS EXPENSES |
0.00 |
0.00 |
0.00 |
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TOTAL |
9.590 |
7.898 |
5.328 |
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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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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
2.855 |
2.009 |
NA |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
0.234 |
0.209 |
NA |
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PROFIT BEFORE
TAX |
2.621 |
1.800 |
1.685 |
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Less |
TAX |
0.788 |
0.556 |
0.653 |
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PROFIT AFTER TAX |
1.833 |
1.244 |
1.032 |
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Earnings Per
Share (Rs.) |
20.366 |
- |
- |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
14.28
|
13.60 |
18.74 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.38
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0.36 |
0.45 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.67
|
1.64 |
1.39 |
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Current Ratio (Current Asset/Current Liability) |
|
1.95
|
2.28 |
2.12 |
LOCAL AGENCY FURTHER INFORMATION
Note;
SUNDRY CREDITORS DETAILS
NOT AVAILABLE
Note;
The Register office of the company has been shifted from “10
Chandravijay Lokmanya Tilak Road, Mulund (E) Mumbai – 400081, Maharashtra,
India to present address w.e.f 17.03.2011.
OPERATIONAL REVIEW
The operations of the company were satisfactory and the company has been successful in attending a turnover of Rs. 27.720 million for the current financial year .the company needs fund for further growth and expansion hence no divided will be declared by the company.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U26900MH200PTC124148 |
|
Name of the
company |
POLLUTION PROTECTION SYSTEM MUMBAI PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
226, Devendra Industrial Premises Co.Op Society Limited, Lokmanya
Nagar, Pada No. 2, Yashodhan Nagar, Thane – 400606, Maharashtra. |
|
This form is for |
Modification
of charges |
|
Charge identification
(ID) number of the charge to be modified |
90353628 |
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Type of charge |
Immovable
Property |
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Particular of
charge holder |
Bank of Maharashtra Sachin Society, Mithagar Road, Mulund (East),
Mumbai-400081 Maharashtra, India. |
|
Nature of instrument
creating charge |
Memorandum of
record of equitable mortgage and mortgagors letter of confirmation of
equitable mortgage and sanction letter of Bank of Maharashtra. |
|
Date of
instrument Creating the charge |
21.07.2011 |
|
Amount secured by
the charge |
Rs. 10.090
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As per CRR As on
31.03.2010, Applicable Role Is Base Rate +2.75%P.A.ie 12.25% P.A With Monthly
Rest. Terms of Repayment Loan Is Repayable
In 60 Equal Monthly Installment Of Rs.0.056 million Margin Rs. 25% Extent and Operation of the charge This Is a Further
Charge For Additional Credit Facilities Of Rs.5.340 million Equitable
Mortgage Charges Last Last Modified On 31.08.2009 Is Hereby further Enhance
To Rs. 10.090 million |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Assets Type and
description Gala No.226, 2Nd
Floor , In Devendra Industrial Premises Co. Op Soc Limited. At
Village Panchpakhadi Lokmanya Nagar Pada 2 Thane (W) in the registration,
Dist Thane, Sub Dist.Thane Admeasuing 42.47 SQ. MTR.and Bearing Gut
No./Survey no.153x1 |
|
Particulars of
the present modification |
This is further
charge for additional credit facilities of Rs.5.340 million equitable
mortgage charge last modified on 31.08.2009 is hereby further enhance to Rs.10.090 million to cover cash credit enhancement of
Rs.2.00 million and term loan of Rs.3.340 million |
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter's background |
-- |
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8) No. of employees |
No |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
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13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
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15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
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17) Major suppliers |
No |
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18) Major customers |
Yes |
|
19) Payments terms |
No |
|
20) Export / Import details (if
applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
No |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
-- |
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30) Major Shareholders, if available |
Yes |
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.51.04 |
|
|
1 |
Rs.81.09 |
|
Euro |
1 |
Rs.67.39 |
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.