MIRA INFORM REPORT

 

 

Report Date :

20.04.2012

 

IDENTIFICATION DETAILS

 

Name :

AMKAY PRODUCTS PRIVATE LIMITED

 

 

Registered Office :

B/15, 2nd Floor, Labella Society, Azad Road, Andheri (East), Mumbai 400069, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

25.10.2007

 

 

Com. Reg. No.:

11-175403

 

 

Capital Investment/ Paid-up Capital:

Rs.1.335 Millions

 

 

CIN No.:

[Company Identification No.]

U51397MH2007PTC175403

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MUMA35092B

 

 

PAN No.:

[Permanent Account No.]

AAGCA6560N

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Exporter of Medical Disposable Products.

 

 

No. of Employees:

100 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (28)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Maximum Credit Limit :

USD 9000

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track. Trade relations are fair. Business is active. Payments are reported to be slow but correct.

 

The company can be considered for business dealings with some cautions.

Profit and Loss of the company is not available.

 

 

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)

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

 

Name :

Mr. G. M. Patel

Designation :

Accountant

Contact No.:

91-22-61317600

Date :

02.04.2012

 

 

LOCATIONS

 

Registered Office :

B/15, 2nd Floor, Labella Society, Azad Road, Andheri (E), Mumbai 400069, Maharashtra

Tel. No.:

91-22-61317600 (100 Lines)

Fax No.:

91-22-26836188/ 26845524

E-Mail :

info@amkayproducts.com

capareshrawal@yahoo.co.in

Website :

www.amkayproducts.com

Location :

Owned

 

 

Factory  :

1st Floor, Nirman Industrial Estate, Vasai (East), Mumbai

 

 

DIRECTORS

 

As on: 30.09.2011

                       

Name :

Mr. Pravinchandra Vrajlal Mody

Designation :

Director

Address :

605, P.K. Niwas, 6th Floor, S.V.Road, Vile Parle West, Mumbai- 400056, Maharashtra, India.

Date of Birth/Age :

30.05.1947

Qualification :

Under Graduate

Date of Appointment :

25.10.2007

DIN No :

01185865

Other Directorships :

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

U65929MH2007PTC167294

GIRIRAJ STOCKS & SECURITIES PRIVATE LIMITED

Director

25-01-07

25-01-07

-

Active

NO

2

U51397MH2007PTC175403

AMKAY PRODUCTS PRIVATE LIMITED

Director

25-10-07

25-10-07

-

Active

NO

 

 

Name :

Mr. Kashyap Pravinchandra Mody

Designation :

Managing Director

Address :

605, P.K. Niwas, 6th Floor, S.V.Road, Vile Parle West, Mumbai- 400056, Maharashtra, India.

Date of Birth/Age :

23.03.1972

Qualification :

Graduate

Date of Appointment :

25.10.2007

DIN No :

01717036

Other Directorships :

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

U72300MH2007PTC168570

MIND SPACE VALUATION INFRA PRIVATE LIMITED

Director

11-03-07

11-03-07

-

Active

NO

2

U51397MH2007PTC175403

AMKAY PRODUCTS PRIVATE LIMITED

Managing director

25-10-07

25-10-07

-

Active

NO

 

 

Name :

Mr. Hemanshu Batavia kantilal

Designation :

Director

Address :

C-31, Kailash Nagar, Shankar Lane, Kandivali (West), Mumbai – 400067, Maharashtra, India.

Date of Birth/Age :

28.10.1975

Date of Appointment :

12.01.2011

DIN No :

05118012

 

 

KEY EXECUTIVES

 

Name :

Mr. G. M. Patel

Designation :

Accountant

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on: 30.09.2011

 

Names of Shareholders

 

No. of Shares

Pravinchandra Vrajlal Mody

 

500

Kashyap Pravinchandra Mody

 

9500

Hemanshu Batavia kantilal

 

3350

 

 

 

Total

 

13350

 

 

As on: 30.09.2011

 

Category

 

Percentage

 

 

 

Directors or relatives of directors

 

100.00

 

 

 

Total

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Exporter of Medical Disposable Products.

 

 

Products :

 

 

Exports :

 

Products :

Medical Disposable Products

Countries :
  • Europe
  • US
  • Japan

 

 

Imports :

 

Products :

Raw Material

Countries :

Chain

 

 

Terms :

 

Selling :

Credit (30 days)

 

 

Purchasing :

Credit (30 days)

 

 

 

GENERAL INFORMATION

 

Customers :

Manufacturer

 

 

No. of Employees :

100 (Approximately)

 

 

Bankers :

Union Bank of India, Andheri (West), Mumbai, Maharashtra, India

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Mr. Paresh Bhawarlal Rawal

Chartered Accountant

Address :

Satya Niwas, 1/16, B.S. Road, Near Gajanan Book Depot, Dadar West, Mumbai- 400028, Maharashtra, India.

Tel. No.:

91-22-65259656/ 24211180

Fax No.:

91-22-24211180

E-Mail :

capareshrawal@yahoo.co.in

PAN No :

AEJPR1818J

 

 

CAPITAL STRUCTURE

 

As on: 30.09.2011

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

20000

Equity Share

Rs.100/- each

Rs.2.000 Millions

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

13350

Equity Share

Rs.100/- each

Rs.1.335 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

1.335

1.000

1.000

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

1.116

0.500

0.233

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

2.451

1.500

1.233

LOAN FUNDS

 

 

 

1] Secured Loans

0.000

0.000

0.000

2] Unsecured Loans

1.051

2.550

0.700

TOTAL BORROWING

1.051

2.550

0.700

DEFERRED TAX LIABILITIES

0.049

0.035

0.000

 

 

 

 

TOTAL

3.551

4.085

1.933

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

1.418

1.554

0.434

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.000

0.000

0.000

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
2.471
1.083

0.202

 

Sundry Debtors
14.070
8.146

2.779

 

Cash & Bank Balances
1.644
0.892

0.416

 

Other Current Assets
0.532
0.259

0.149

 

Loans & Advances
0.227
0.064

0.000

Total Current Assets
18.944

10.444

3.546

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditor
16.467
7.425

1.922

 

Other Current Liabilities
 
0.413

0.073

 

Provisions
0.357
0.091

0.073

Total Current Liabilities
16.824

7.929

2.068

Net Current Assets
2.120
2.515

1.478

 

 

 

 

MISCELLANEOUS EXPENSES

0.013

0.016

0.021

 

 

 

 

TOTAL

3.551

4.085

1.933

 

 

The above information has been parted by Mr. G.M. Patel

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2011

31.03.2010

31.03.2009

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
7.29

6.99

2.24

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
1.13

1.32

1.71

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Check List by Info Agents

Available in Report [Yes/No]

Year of Establishment

Yes

Locality of the Firm

Yes

Construction of the firm

Yes

Premises details

Yes

Type of Business

Yes

Line of Business

Yes

Promoters background

Yes

No. of Employees

Yes

Name of Person Contacted

Yes

Designation of contact person

Yes

Turnover of firm for last three years

No

Profitability for last three years

No

Reasons for variation <> 20%

-

Estimation for coming financial year

No

Capital the business

Yes

Details of sister concerns

No

Major Suppliers

No

Major Customers

No

Payment Terms

Yes

Export / Import Details [If Applicable]

Yes

Market Information

-

Litigations that the firm / promoter involved in

-

Banking Details

Yes

Banking Facility Details

Yes

Conduct of the banking account

-

Buyer visit details

-

Financials, if provided

Yes

Incorporation details, if applicable

Yes

Last accounts filed at ROC

Yes

Major Shareholders, if applicable

Yes

 

 

Note:

 

The registered office of the company has been shifted from 605, P.K. Niwas, S.V. Road, Mumbai – 400056, Maharashtra, India to the present address w.e.f. 06.10.2011

 

Fixed Assets:

 

  • Air Conditioner – LG
  • Barcode Printer
  • Computer
  • EPBAX
  • F. F Filling Machine
  • FFS Machine
  • Plant and Machinery
  • Printer
  • Refrigerator
  • Weighing Machine
  • T V
  • Weighing Machine

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.51.89

UK Pound

1

Rs.83.18

Euro

1

Rs.68.06

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

4

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILIRY

1~10

4

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

2

--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

 

28

 

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.