|
Report Date : |
04.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
AMEE RUBBER INDUSTRIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
301-302, Samudra Seema, Dr, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
21.03.1986 |
|
|
|
|
Com. Reg. No.: |
11-039290 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs.13.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25190MH1986PTC039290 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of automobile Rubber Goods |
|
|
|
|
No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 53000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There appears
lack of reserves with the company. The company has recorded an increase in
its sales turnover and profits during 2011. There appears some accumulates
losses recorded by the company. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealings with some
caution |
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
301-302, Samudra Seema, Dr, |
|
Tel. No.: |
91-22-61282828/26007652/26007653 |
|
Mobile No.: |
91-99904033353 (Mr. Vishal Miglani) |
|
Fax No.: |
91-22-26007654 |
|
E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Chanchal Lalitkumar Batra |
|
Designation : |
Director |
|
Address : |
A-101, Suraj Heights Bldg, Walbhatt Road, Nr Sharma Estate, Goregaon
(East), Mumbai Maharashtra - 400063 |
|
Date of Birth/Age : |
14.12.1965 |
|
Date of Appointment : |
21.05.2008 |
|
Din No.: |
02202433 |
|
|
|
|
Name : |
Mr. Karan Lalit Batra |
|
Designation : |
Director |
|
Address : |
A/10, Suroj Height, |
|
Date of Birth/Age : |
17.12.1986 |
|
Date of Appointment : |
21.05.2008 |
|
Din No.: |
02202396 |
|
|
|
|
Name : |
Mr. Kishanlal Bhagwandas Miglani |
|
Designation : |
Director |
|
Address : |
593-A/3,
Chinar Society, |
|
Date of Birth/Age : |
07.12.1940 |
|
Date of Appointment : |
01.01.1996 |
|
Din No.: |
00952354 |
|
|
|
|
Name : |
Mr. Vishal Kishanlal Miglani |
|
Designation : |
Director |
|
Address : |
593-A/8,
Chinar Society, |
|
Date of Birth/Age : |
26.06.1981 |
|
Din No.: |
02199962 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Karan Lalit Batra |
|
230798 |
|
Aftabuddin
Zainuddin Sayed |
|
11000 |
|
Kishanlal
Bhagwandas Miglani |
|
173702 |
|
Krishnavati
Kishanlal Miglani |
|
762000 |
|
Lalit
Batra |
|
116500 |
|
Chanchal
Lalitkumar Batra |
|
56000 |
|
Total |
|
1350000 |
As on 30.09.2011
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
99.19 |
|
Others |
|
0.81 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of automobile Rubber Goods |
||||||
|
|
|
||||||
|
Products : |
|
PRODUCTION STATUS as on 31.03.2011
|
Particulars |
Unit |
|
|
Installed
Capacity |
Kgs |
300000 |
|
Actual
Production |
|
|
|
Rubber Goods |
Mtrs |
4285942 |
|
Rubber Goods |
Kgs |
8949 |
|
Rubber Goods |
Nos |
586223 |
GENERAL INFORMATION
|
|
|
||||||||||||||||||||||||||||||
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Bankers : |
Bank of India, Prathana Samaj Branch, Servants of India Society
Building, 417 SVP Road, Mumbai -400004, Maharashtra, India |
||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||
|
Facilities : |
Rs.
In Millions
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Udani Mehta and Company Chartered Accountant |
|
Address : |
37/1966, Omkaram, Gandhi Nagar, Service Road, Bandra Mumbai – 400051, |
|
Pan No.: |
AAAPU1936F |
|
|
|
|
Associate Concerns: |
·
·
· Pacific International · KVM Motors |
|
|
|
|
Companies under the
same management |
·
|
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1500000 |
Equity Share |
Rs.10/- each |
Rs15.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1350000 |
Equity Share |
Rs.10/- each |
Rs.13.500
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 |
13.500 |
13.500 |
13.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(0.274) |
(0.699) |
(1.800) |
|
|
NETWORTH |
13.226 |
12.801 |
11.700 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
12.154 |
14.052 |
21.293 |
|
|
2] Unsecured Loans |
0.872 |
2.628 |
3.992 |
|
|
TOTAL BORROWING |
13.026 |
16.680 |
25.285 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
26.252 |
29.481 |
36.985 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
11.853 |
13.474 |
12.681 |
|
|
Capital work-in-progress |
2.170 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.011 |
0.011 |
0.011 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
16.884
|
7.961 |
7.346 |
|
|
Sundry Debtors |
16.197
|
16.352 |
16.475 |
|
|
Cash & Bank Balances |
1.112
|
1.959 |
1.253 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
6.288
|
4.999 |
4.396 |
|
Total
Current Assets |
40.481
|
31.271 |
29.470 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
19.136
|
10.471 |
3.205 |
|
|
Other Current Liabilities |
6.437
|
3.729 |
1.302 |
|
|
Provisions |
0.690
|
1.075 |
0.670 |
|
Total
Current Liabilities |
26.263
|
15.275 |
5.177 |
|
|
Net Current Assets |
12.218
|
15.996 |
24.293 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
26.252 |
29.481 |
36.985 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
57.115 |
45.677 |
53.042 |
|
|
|
Other Income |
7.399 |
1.162 |
2.498 |
|
|
|
TOTAL |
64.514 |
46.839 |
55.540 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
59.402 |
40.923 |
48.352 |
|
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
5.112 |
5.916 |
7.188 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
2.487 |
2.229 |
1.328 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
2.625 |
3.687 |
5.860 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.766 |
1.857 |
1.466 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.859 |
1.830 |
4.394 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.434 |
0.729 |
0.116 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
0.425 |
1.101 |
4.278 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.64 |
0.82 |
3.17 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.66 |
2.35 |
7.70 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.50 |
4.01 |
8.28 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.64 |
4.09 |
3.48 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06 |
0.14 |
0.38 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.97 |
2.50 |
0.55 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.54 |
2.04 |
5.69 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
No |
|
Name
of Person Contacted |
No |
|
Designation
of contact person |
No |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
- |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
Yes |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
No |
|
Export
/ Import Details [If Applicable] |
No |
|
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 |
|
PAN of
Proprietor/Partner/Director, if available |
No |
|
Passport No of
Proprietor/Partner/Director, if available |
No |
|
Voter ID No of
Proprietor/Partner/Director, if available |
No |
Note: The registered office of the company has been
shifted from C- 18 Satyam, Shopping Centre, Maezzannie Floor, Ghatkopar (East)
Mumbai, Maharashtra, India to the present address (w.re.f.02.08.2008)
PERFORMANCE:
During the year the sales and profit before Depreciation and Finance charges were Rs.57.114 Millions and Rs.5.112 Millions compared to Rs.45.676 Millions and Rs.5.916 Milions respectively in the last year. After making provision for Income Tax of Rs0.170 Millions, adjusted MAT Credit of Rs.0.281 and Excess provision of previous years w/off of Rs.0.18 Millions the balance transferred to the Balance Sheet is Rs.0.425 Millions
FORM 8
|
Corporate
identity number of the company |
U25190MH1986PTC039290 |
|
Name of the
company |
AMEE
RUBBER INDUSTRIES PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
301-302, Samudra Seema, Dr, Email: udanimehtaco@yahoo.co.in
|
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be
modified |
90232708 |
|
Type of charge |
· Immovable property ·
Any interest in immovable property |
|
Particular of
charge holder |
Bank of India, Prathana Samaj Branch, Servants of India Society
Building, 417 SVP Road, Mumbai -400004, Maharashtra, India |
|
Date of
instrument Creating the charge |
01.10.2011 |
|
Amount secured by
the charge |
Rs. 57.500 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest/Commission
at such rate(s) as may be notified by the Bank from time to time. Term
of Payment: On Demand Margin As
may be required by the Bank from time to time. Extent and
operation of the charge Security in favour of Bank for due repayment
by the Company to the Bank at Prarthana Samaj Br.,Mumbai on demand of the
said revised aggregate credit facilities of Rs.57.500 Millions comprising of said facilities with interest
at agreed rates of interest and for all costs, charges and expenses
whatsoever paid or incurred by Bank Others: from
time to time from the Company at any
of the branch or office of the Bank and or for any indebtedness or liability
of the company to the Bank. Revised
Facilities and Limits (Rs. in Millions ):(A)Fund based (FB):1)Term loans Rs.34.000,
2)C/C (Hyp.of Stocks and Book Debts) Rs.15.000, 3) EPC:Rs.5.000, 4)FBP (DA/DP
90 days) :Rs.5.000 Max.(3and4):Rs.5.000 Total FB Max.(A) Rs.54.000 (B) Non
Fund Based(NFB) :5) Bank Guarantees :Rs.10, 6)Letters of Credit :Rs.2.500
Total NFB Max.(B): Rs.3.500 Aggregate Credit Limits (A+ B):Rs.57.500. |
|
Short particulars
of the property charged (Including location of the property) |
All
that piece of land with buildings, shed and structures, standing thereon
situated at (1) Plot No.377 Vapi Indl.
Estate, within village limits of
Chanod, Tal. Pardi, Dist. Valsad, |
|
Date of last modification prior to the present modification |
06.09.2010 |
|
Particulars of the present modification |
6th
modification. The principal amount of charge on mortgaged property is
increased from Rs.13.000 Millions to Rs.57.500 Millions. Revised Facilities
and Limits (Rs. in Millions ):(A)Fund based (FB):1)Term loans Rs.34.000,
2)C/C (Hyp.of Stocks and Book Debts) Rs.15.000, 3) EPC:Rs.5.000, 4)FBP (DA/DP
90 days) :Rs.5.000 Max.(3and4):Rs.5.000 Total FB Max.(A) Rs.54.000 (B) Non
Fund Based(NFB) :5) Bank Guarantees :Rs.10, 6)Letters of Credit :Rs.2.500
Total NFB Max.(B): Rs.3.500 Aggregate Credit Limits (A+ B):Rs.57.500. |
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.56.08 |
|
|
1 |
Rs.87.03 |
|
Euro |
1 |
Rs.68.36 |
INFORMATION DETAILS
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
- |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
33 |
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.