MIRA
INFORM REPORT
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Report Date : |
26.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
PROMAS ENGINEERS PRIVATE LIMITED |
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Registered
Office : |
Promas House, Plot No. R 877, TTC Industrial Area, Rabale, Navi Mumbai
400701, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
02.03.2005 |
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Com. Reg. No.: |
11-151708 |
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Capital
Investment / Paid-up Capital : |
Rs.5.000 Millions |
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CIN No.: [Company Identification
No.] |
U29100MH2005PTC151708 |
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IEC No.: |
0305089188 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP21991E MUMP21991F |
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PAN No.: [Permanent Account No.] |
AADCP5378C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Designer of process Equipments for Food, Pharma and
Other Industries |
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No. of Employees : |
55 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (44) |
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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 68000 |
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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 fair. Business is active. Payments are reported to be usually correct
and as per commitments. The company can be considered for normal 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.
INFORMATION PARTED BY
|
Name : |
Mr. Bhushan |
|
Designation : |
Account Executive |
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Contact No.: |
91-22-27694285 |
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Date : |
25.04.2012 |
LOCATIONS
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Registered Office/ Factory : |
Promas House, Plot No. R 877, TTC Industrial Area, Rabale, Navi Mumbai
400701, Maharashtra, India |
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Tel. No.: |
91-22-27694285 / 286 / 287 |
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Fax No.: |
91-22-27602035 |
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E-Mail : |
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Website: |
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Area : |
1200 sq. ft |
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Location : |
Owned |
DIRECTORS
As On 30.09.2011
|
Name : |
Mr. Balasaheb Babanrao Gatkal |
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Designation : |
Director |
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Date of Birth/Age : |
02.06.1963 |
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Address: |
Symphony Co-Operative Housing Society, Flat No.14, C-Wing, Chandivali,
Farm Road, Andheri (East), Mumbai – 400072, Maharashtra, India |
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Qualification : |
B E Engineer |
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Date of Appointment : |
01.04.2008 |
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DIN No.: |
02000669 |
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Name : |
Mr. James Martin Pareira |
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Designation : |
Director |
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Address: |
House No.114, 1st Floor, Joram D-Souza House, Kurla
Village, Fr. Peter Pereira Road, Kurla, Mumbai – 400070, Maharashtra, India |
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Date of Birth/Age : |
06.07.1947 |
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Qualification : |
Graduate |
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Date of Appointment : |
01.04.2008 |
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DIN No.: |
02000686 |
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Name : |
Mrs. Magdaline James Pareira |
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Designation : |
Director |
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Address: |
House No.114/B, Village Ward, Old Kurla, Mumbai – 400070, Maharashtra,
India |
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Date of Birth : |
03.11.1955 |
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Qualification : |
Graduate |
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Date of Appointment : |
02.03.2005 |
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DIN No.: |
02174844 |
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Name : |
Mrs. Vandana Balasaheb Gatkal |
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Designation : |
Director |
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Address: |
Symphony Co-Operative Housing Society, Flat No.14, C-Wing, Chandivali,
Farm Road, Andheri (East), Mumbai – 400072, Maharashtra, India |
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Date of Birth/Age : |
01.06.1970 |
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Qualification : |
BSC |
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Date of Appointment : |
02.03.2005 |
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DIN No.: |
02209786 |
KEY EXECUTIVES
|
Name : |
Mr. Bhushan |
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Designation : |
Account Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
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No. of Shares |
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Vandana Balasaheb Gatkal |
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124166 |
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Magdaline James Pareira |
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124167 |
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Sunil S Shinde |
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3333 |
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Balasaheb Babanrao Gatkal |
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124167 |
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James Martin Pareira |
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124167 |
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Total |
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500000 |
AS ON 30.09.2011
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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 |
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Total
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Designer of process Equipments for Food, Pharma and
Other Industries |
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Products : |
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Terms : |
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Selling : |
Cash and Credit (30 days and 30 days) |
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Purchasing : |
Cash and Credit (30 days and 30 days) |
GENERAL INFORMATION
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Customers : |
Manufacturer ·
Pfizer Limited, Egypt ·
Nectar Life Sciences, Dera Bassi ·
Hikal Limited, Bangalore ·
Teva Api India Limited, Gajraula ·
Structural Adhesive, Uk ·
Cipla Limited, Kurkumbh / Patalganga / Baddi ·
Posh Chemicals, Hyderabad ·
Watson Pharma Private Limited, Ambernath ·
Sapec Agro, Portugal ·
Wanbury Limited ·
Centaur Chemicals, Ambernath ·
TCG Lifesciences Limited, Kolkota ·
Oman Chemicals, Dubai ·
Doctor Organic Chemicals Limited, Andhra Pradesh ·
IPCA Laboratories, Vapi ·
P I Drugs, Mahad ·
Fermenta Biotech, Himachal Pradesh ·
Orchid Chemicals and Pharmaceuticals, Aurangabad
/ Chennai ·
Alembic Limited, Halol / Vadodara ·
Sud Chemie, Nandesari ·
Wockhardt Limited, Ankleshwar ·
United Phosphorus Limited, Thane ·
Parabolic Drugs Limited, Punjab ·
Indico Remedies, Rabale ·
Novartis Private Limited, Mumbai ·
Pradeep Metal Treatment, Mumbai ·
IOL Chemicals and Pharmaceuticals, Ludhiana ·
Dalas Biotech, Bhiwandi ·
Sandoz Private Limited, Mumbai ·
Aarti Drugs Limited, Boiser ·
Dabur Research Foundation, Ghaziabad ·
Actavis Pharma, Tamil Nadu ·
Glenmark Pharmaceuticals, Mumbai / Goa /
Ankaleshwar ·
Sanmar Speciality Chemicals Limited, Tamil Nadu ·
Lupin Limited, Tarapur / Mandideep / Aurangabad ·
Cadila Pharmaceuticals Limited, Ahmedabad ·
Ranbaxy Laboratories Limited, Mohali / Tonsa /
Gurgaon ·
Murli Krishna Pharma Private Limited, Pune ·
New Chemi Industries Limited, Vapi ·
Megafine, Nashik ·
Macleods Pharmaceuticals, Daman / Mumbai ·
RPG Life Science, Navi Mumbai ·
Richter Themis Medicare India, Vapi ·
Dr Reddy's Laboratory, Hyderabad ·
Matrix Laboratories Limited, Andhra Pradesh ·
Sequent Scientific Limited, Mangalore ·
Emcure Pharmaceuticals Limited, Kurkumbh |
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No. of Employees : |
55 (Approximately) |
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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 : |
P M Pophale and Associates Chartered Accountants |
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Address : |
A-120, Amar Gian Complex, Opposite S. T. Workshop, Kopat , Thane
(West), Thane – 400601, Maharashtra, India
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Tel. No.: |
91-22-25470303 / 25470588 |
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Mobile No.: |
91-9820343731 |
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E-mail : |
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PAN No.: |
AADPP4042J |
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Associates/Subsidiaries : |
Promtech Legal Form: Partnership Concern Activity: Trader of Pharmaceutical Machines |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
500000 |
Equity Shares |
Rs. 10 each |
Rs. 5.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
500000 |
Equity Shares |
Rs. 10 each |
Rs.5.000 Millions |
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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 |
5.000 |
1.880 |
0.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
12.067 |
9.315 |
6.109 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
17.067 |
11.195 |
6.609 |
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LOAN FUNDS |
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1] Secured Loans |
25.583 |
10.273 |
11.110 |
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2] Unsecured Loans |
5.557 |
3.096 |
4.516 |
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TOTAL BORROWING |
31.140 |
13.369 |
15.626 |
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DEFERRED TAX LIABILITIES |
1.620 |
1.310 |
1.330 |
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TOTAL |
49.827 |
25.874 |
23.565 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
35.762 |
19.356 |
20.339 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.064 |
0.064 |
0.063 |
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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 |
19.149
|
9.314
|
11.020 |
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Sundry Debtors |
21.926
|
6.375
|
4.391 |
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Cash & Bank Balances |
0.778
|
0.201
|
0.180 |
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Other Current Assets |
0.720
|
0.962
|
1.260 |
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Loans & Advances |
6.256
|
5.730
|
6.326 |
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Total
Current Assets |
48.829
|
22.582
|
23.177 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
27.818
|
8.844
|
12.050 |
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Other Current Liabilities |
3.053
|
4.600
|
6.071 |
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Provisions |
3.957
|
2.684
|
1.899 |
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Total
Current Liabilities |
34.828
|
16.128
|
20.020 |
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Net Current Assets |
14.001
|
6.454
|
3.157 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.006 |
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TOTAL |
49.827 |
25.874 |
23.565 |
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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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Sales |
58.686 |
42.680 |
39.787 |
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Other Income |
NA |
NA |
NA |
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TOTAL |
NA |
NA |
NA |
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EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
67.114 |
43.804 |
36.110 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
5.223 |
4.915 |
3.677 |
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DEPRECIATION/
AMORTISATION |
0.885 |
0.801 |
0.809 |
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PROFIT BEFORE
TAX |
4.337 |
4.114 |
2.868 |
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TAX |
1.296 |
0.909 |
1.149 |
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PROFIT AFTER TAX
|
3.041 |
3.205 |
1.719 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
0.782 |
0.529 |
1.768 |
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TOTAL EARNINGS |
0.782 |
0.529 |
1.768 |
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Earnings Per
Share (Rs.) |
6.08 |
17.05 |
-- |
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Particulars |
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|
31.03.2012 |
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Sales Turnover (Approximately) |
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|
80.000 |
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Expected Sales (2012-2013): Rs.120.000 Millions
The above information has been parted by Mr. Bhushan.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
7.39
|
9.64
|
7.21 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
5.13
|
9.81
|
6.59 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.25
|
0.37
|
0.43 |
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Debt Equity Ratio (Total Liability/Networth) |
|
3.87
|
2.63
|
5.39 |
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Current Ratio (Current Asset/Current Liability) |
|
1.40
|
1.40
|
1.16 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
(Rs.
In Millions)
|
Particulars
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
27.818
|
8.844
|
12.050 |
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Check List by Info Agents |
Available in Report (Yes / No) |
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1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
Yes |
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5) Type of Business |
Yes |
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6) Line of Business• |
Yes |
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7) Promoter’s background |
Yes |
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8) No. of employees |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for last three years |
Yes |
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12) Profitability for last three years |
Yes |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
Yes |
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15) Capital in the business |
Yes |
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16) Details of sister concerns |
Yes |
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17) Major suppliers |
No |
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18) Major customers |
Yes |
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19) Payments terms |
Yes |
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20) Export / Import details (if applicable) |
No |
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21) Market information |
-- |
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22) Litigations that the firm / promoter |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
Yes |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
Yes |
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28) Incorporation details, if applicable |
Yes |
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29) Last accounts filed at ROC |
Yes |
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30) Major Shareholders, if available |
Yes |
NOTE:
Registered office of the company has been shifted from B 18
Ansa Industrial Estate Saki Vihar Road, Sakinaka, Andheri (East), Mumbai
400072,
BANKERS CHARGES REPORT
AS PER REGISTRY
|
Corporate
identity number of the company |
U29100MH2005PTC151708 |
|
Name of the
company |
PROMAS ENGINEERS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Promas House, Plot No. R 877, TTC Industrial Area, Rabale, Navi Mumbai
400701, E-mail : promas@vsnl.net |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
Indian Overseas Bank, Santacruz (West) Branch, Harikripa 26A, Email: dombibr@nu,nsco.iobnet.co.in |
|
Nature of instrument
creating charge |
Title deed
narration for an equitable mortgage to be created on the industrial plot |
|
Date of
instrument Creating the charge |
23.07.2011 |
|
Amount secured by
the charge |
Rs.55.200
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest Since this
security of immoveable property is offered as collateral security no rate of
interest is applicable Terms of repayment N.A. Margin N.A. Extent and operation of the charge This charge against mortgage property is subject
to the maximum sum of Rs.55.200 Millions with following break up CC Rs.15.000
Millions Term Loan Rs.35.200 Millions Non Fund based
(LG) Rs.5.000 Millions |
|
Short particulars
of the property charged (Including location of the property) |
Industrial Plot
No.R-967, TTC Industrial Area, Rebale, Navi Mumbai – 400701 in the name of
subject. |
FIXED ASSETS:
- Plant and
Machinery
- Furniture and
Fixtures
- Factory
Premises
- Alto
- Projector
- Software
- DVD Write
- Factory
Renovation
- Fax Machine
- Office
Renovation
- Air
conditioner
- BUS
- HP Printer
- Inverter
- Plastic Two
Wheeled
- Computer
Systems
- EPABX System
- Mobile Phone
- Water Filter
- Tata Sumo
- Xerox Machine
- CC TV Camera
- Security
Cabin
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.52.49 |
|
|
1 |
Rs.84.66 |
|
Euro |
1 |
Rs.69.25 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
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 |
4 |
|
--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 |
|
44 |
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.