MIRA
INFORM REPORT
|
Report Date : |
04.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
M AND B ENGINEERING LIMITED (w.e.f.30.03.2011) |
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|
|
|
Formerly Known
As : |
M AND B ENGINEERING PRIVATE LIMITED (w.e.f.22.11.2006) MANIBHAI AND BROTHERS (CONSTRUCTION) PRIVATE LIMITED |
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|
|
Registered
Office : |
MB House, 51, Chandrodaya Society, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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|
Date of
Incorporation : |
16.06.1981 |
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|
|
Com. Reg. No.: |
04-004437 |
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Capital
Investment / Paid-up Capital : |
Rs.200.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45200GJ1981PLC004437 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMM00926C |
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PAN No.: [Permanent Account No.] |
AAACM7430Q |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Proflex Roofing Systems and Phenix Pre Engineered |
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|
|
|
No. of Employees
: |
600 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (54) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2000000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having fine track. General
financial position is good. Trade relations are reported as fair. Business is
active. Payments are reported to be correct and as per commitments. The company can be considered good 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.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
BBB (Long Term Bank Facility) |
|
Rating Explanation |
This rating are considered to have moderate degree of safety regarding
timely servicing of financial obligation. Such instruments carry moderate credit risk. |
|
Date |
April 2012 |
|
Rating Agency Name |
CARE |
|
Rating |
A3 (Short Term) |
|
Rating Explanation |
This rating are considered to have moderate degree of safety regarding
timely payment of financial obligation. Such instruments carry higher credit
risk. |
|
Date |
April 2012 |
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.
INFORMATION PARTED BY (GENERAL INFORMATION)
|
Name : |
Mr. R Vaibhav |
|
Designation : |
Accounts Executive |
|
Contact No.: |
91-79-26405563 |
|
Date : |
03.08.2012 |
LOCATIONS
|
Registered / Corporate Office : |
MB House, 51 Chandrodaya Society, |
|
Tel. No.: |
91-79-26405563/ 26405572/ 26461314 |
|
Fax No.: |
91-79-26400828/ 26400826/ 26568433/ 26561588 |
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E-Mail : |
keyus@mbproflex.com |
|
Website : |
|
|
Area : |
15000 sq. ft. |
|
Location : |
Owned |
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|
|
|
Factory : |
Plot No.30 P, Naranpura Sanand, Ahmedabad – 382 213, |
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Tel. No.: |
91-2717-273051-52-53-54-55-56 |
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Fax No.: |
91-2717-273052 |
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Area : |
20 Acers |
|
Location : |
Owned |
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|
|
Marketing Office : |
Located
at:
|
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Manibhai Shivabhai Patel |
|
Designation : |
Director |
|
Address : |
7, Friends Colony, Naranpura, Ahmedabad -380013, |
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Date of Birth/Age : |
03.08.1924 |
|
PAN No. : |
AATPP0123E |
|
Date of Appointment: |
16.06.1981 |
|
DIN : |
|
|
|
|
|
Name : |
Mr. Hasmukhbhai Shivabhai Patel |
|
Designation : |
Director |
|
Address : |
7, Friends Colony, Naranpura, Ahmedabad -380013, |
|
Date of Birth/Age : |
24.09.1935 |
|
Qualification : |
B.E. Civil and Electrical |
|
PAN No. : |
ACVPP7829P |
|
Date of Appointment: |
16.06.1981 |
|
DIN : |
00260955 |
|
|
|
|
Name : |
Mr. Chirag Hasmukhbhai Patel |
|
Designation : |
Managing Director |
|
Address : |
7, Friends Colony, Naranpura, Ahmedabad -380013, |
|
Date of Birth/Age : |
26.03.1971 |
|
Qualification : |
B.E. Civil |
|
PAN No. : |
AEHPP8762P |
|
Date of Appointment: |
01.05.1993 |
|
DIN : |
00260514 |
|
Voter ID No.: |
URP2153161 |
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|
Name : |
Mr. Malav Girishbhai Patel |
|
Designation : |
Managing Director |
|
Address : |
7, Friends Colony, Naranpura, Ahmedabad -380013, |
|
Date of Birth/Age : |
20.10.1976 |
|
Date of Appointment: |
01.03.2001 |
|
DIN : |
00260602 |
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|
|
|
Name : |
Mr. Rangarajan Krishnan Vijaya Raghavan |
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Designation : |
Managing Director |
|
Address : |
Plot No. 35, 8-2-120/86/9/A/35, Rao And Raju Colony, Road No. 14,
Banjara Hills, Hyderabad-500034, |
|
Date of Birth/Age : |
07.08.1948 |
|
Date of Appointment: |
01.09.2007 |
|
DIN : |
01839422 |
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|
|
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Name : |
Mr. Vipinbhai Kantilal Patel |
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Designation : |
Whole-time Director |
|
Address : |
2, Nandanvan, Near Shyam Vihar Bunglow, Thaltej – |
|
Date of Birth/Age : |
17.03.1948 |
|
Qualification : |
B. Com. Inter CA |
|
PAN No. : |
AEQPP4916C |
|
Date of Appointment: |
31.12.1984 |
|
DIN : |
00260734 |
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|
|
|
Name : |
Mr. Girishbhai Manibhai Patel |
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Designation : |
Whole-time Director |
|
Address : |
7, Friends Colony, Naranpura, Ahmedabad-380013, |
|
Date of Birth/Age : |
31.08.1947 |
|
Qualification : |
Diploma in Hydraulic Engineering |
|
PAN No. : |
AAWPP1120E |
|
Date of Appointment: |
31.12.1984 |
|
DIN : |
00261624 |
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|
|
|
Name : |
Mr. Sanjay Shailesh Majmudar |
|
Designation : |
Director |
|
Address : |
24, Sumadhur Cooperative Housing Society Limited, behind Ocean Park,
Ambawadi, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
21.03.1963 |
|
Date of Appointment: |
01.04.2011 |
|
DIN : |
00091305 |
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|
|
|
Name : |
Mr. Venkatasubramanian Natarajan Kuthoore |
|
Designation : |
Director |
|
Address : |
Da/D5, Ashok Swetha, 173, |
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Date of Birth/Age : |
14.04.1938 |
|
Date of Appointment: |
01.04.2011 |
|
DIN : |
00007392 |
KEY EXECUTIVES
|
Name : |
Mrs. Briva Chiragbhai Patel |
|
Designation : |
Secretary |
|
Address : |
7, Friends Colony, Naranpura, Ahmedabad -380013, |
|
Date of Birth/Age : |
02.06.1973 |
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Date of Appointment : |
01.11.2008 |
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|
|
|
Name : |
Mr. R Vaibhav |
|
Designation : |
Accounts Executive |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Manibhai S Patel |
|
2800000 |
|
Hasmukhbhai S Patel |
|
2800000 |
|
Girishbhai M Patel |
|
2600000 |
|
Umaben G Patel |
|
800000 |
|
Malav G Patel |
|
2800000 |
|
Chirag H Patel |
|
4200000 |
|
Vipinbhai K Patel |
|
1000000 |
|
Leenaben V Patel |
|
400000 |
|
Aditya V Patel |
|
600000 |
|
Birvaben C Patel |
|
2000000 |
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|
|
|
|
Total |
|
20000000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Proflex Roofing Systems and Phenix Pre Engineered |
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|
|
Products : |
Pre Engineered Metal Building |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Pre Engineered Metal Buildings |
MT |
60000 |
31468.44 |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers ·
Adani ·
AIA Engineering ·
Anand Engineering Limited ·
Ashapura Garments ·
Asian Paints ·
Big Mall ·
BMW ·
DMRC ·
Emerson Process Control ·
Essenar Transformers |
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No. of Employees : |
600 (Approximately) |
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Bankers : |
·
Bank of Baroda, Bhadra Branch, Opposite Dinbai
Tower, Lal Darwaja, Ahmedabad – 380001, Gujarat, India ·
Standard Chartered Bank (Acting as an Security Agent),
Credit Document Unit, Narain Manzil, 23 Barakhamba Road, New Delhi – 110001,
India |
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Facilities : |
(Rs. in Millions)
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Banking
Relations : |
-- |
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Auditors : |
|
|
Name : |
Talati and Talati Chartered Accountants |
|
Address : |
Ambika Chambers, Near Old High Court, Navarangpura, Ahmedabad –
380009, |
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PAN.: |
AAAFT4520A |
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|
|
|
Related Party: |
·
Phenix Building Solutions Private
Limited ·
M B Enterprise ·
Highten Steels ·
Manibhai Brothers ·
Manibhai Brothers PCC Sarkhej ·
Maxim Finance Private Limited ·
Manibhai Brothers Finance
Corporation ·
Usha Prestressed Sleeper Udhyog
Piplod |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000 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 |
200.000 |
80.000 |
80.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
302.483 |
202.108 |
132.111 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
502.483 |
282.108 |
212.111 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
469.728 |
574.487 |
654.393 |
|
|
2] Unsecured Loans |
460.686 |
574.936 |
356.266 |
|
|
TOTAL BORROWING |
930.414 |
1149.423 |
1010.659 |
|
|
DEFERRED TAX LIABILITIES |
54.717 |
50.787 |
37.407 |
|
|
|
|
|
|
|
|
TOTAL |
1487.614 |
1482.318 |
1260.177 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
731.434 |
729.773 |
721.307 |
|
|
Capital work-in-progress |
0.585 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.455 |
0.455 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
422.569
|
253.634
|
405.792 |
|
|
Sundry Debtors |
902.578
|
612.202
|
282.507 |
|
|
Cash & Bank Balances |
299.624
|
150.124
|
82.686 |
|
|
Other Current Assets |
0.000
|
0.000
|
33.376 |
|
|
Loans & Advances |
327.203
|
197.053
|
172.592 |
|
Total
Current Assets |
1951.974
|
1213.013
|
976.953 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
533.580
|
202.576 |
219.366 |
|
|
Other Current Liabilities |
470.555
|
196.330
|
200.547 |
|
|
Provisions |
192.244
|
62.017
|
18.625 |
|
Total
Current Liabilities |
1196.379
|
460.923
|
438.538 |
|
|
Net Current Assets |
755.595
|
752.090
|
538.415 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1487.614 |
1482.318 |
1260.177 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3611.906 |
2074.076 |
1874.185 |
|
|
|
Other Income |
25.799 |
4.841 |
15.102 |
|
|
|
TOTAL (A) |
3637.705 |
2078.917 |
1889.287 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption Material Changes Inventories |
2527.556 |
1425.006 |
|
|
|
|
Manufacturing Service Costs |
160.791 |
99.777 |
|
|
|
|
Employee Related Expenses |
219.777 |
166.332 |
|
|
|
|
Administrative Selling Other Expenses |
227.145 |
116.816 |
|
|
|
|
TOTAL (B) |
3135.269 |
1807.931 |
1661.107 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
502.436 |
270.986 |
228.180 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
124.367 |
114.120 |
120.004 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
378.069 |
156.866 |
108.176 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
71.765 |
54.489 |
44.601 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
306.304 |
102.377 |
63.575 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
105.929 |
32.380 |
27.067 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
200.375 |
69.997 |
36.507 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
175.694 |
105.697 |
69.190 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
376.069 |
175.694 |
105.697 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
81.254 |
65.612 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
914.330 |
326.930 |
171.799 |
|
|
|
Stores & Spares |
3.435 |
8.065 |
4.226 |
|
|
|
Capital Goods |
24.194 |
23.945 |
96.429 |
|
|
TOTAL IMPORTS |
941.959 |
358.940 |
272.454 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
11.01 |
3.89 |
45.63 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
5.51
|
3.67 |
1.93 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
8.48
|
4.94 |
3.92 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.69
|
8.44 |
6.51 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.61
|
0.36 |
0.30 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.23
|
5.71 |
6.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.63
|
2.63 |
2.23 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors Details:
Rs. In Millions
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
|
|
|
|
Micro, Small and Medium Enterprise and
others |
0.000 |
0.000 |
|
|
Others |
533.580
|
202.576 |
219.366 |
|
Total |
533.580
|
202.576 |
219.366 |
|
Sr. No. |
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 |
Yes |
|
8] |
No. of employees |
Yes |
|
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 |
|
13] |
Reasons for variation
<> 20% |
-- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
Yes |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
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 |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
PAN of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
Passport No of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
Yes |
REVIEW OF PERFORMANCE
The company
performed excellent during the year crossing Rs.3500.000 Millions mark in gross
revenue terms. Both the division of the company registered a phenomenal growth and
maintained their profitability despite of sustained period of lower margins.
Handsome industrial and commercial demand contributed to the robust volume
growth in both the divisions of the company.
The profit before
depreciation and interest for the year 2010-11 Rs.502.400 Millions was up by
85% over the previous year and the Profit before tax for the year 2010-11 was
Rs.306.200 Millions, a growth of 199%
The PEB division
has crossed gross turnover of Rs. 2000.000 Millions with volume surpassing
30000 MT of PEB, a growth of 80% and 50% respectively.
The year marked
history for “Proflex” division which crossed gross turnover of Rs. 1000.000
Millions and execution crossing one million Sq. Meters with growth of 62% and
48% respectively.
FINANCE
The company has
efficiently manage working capital cycle.
The secured and unsecured loan has decreased from 1149.423 Millions to
930.414 Millions during the year. All loan installments have been regularly
paid.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U45200GJ1981PLC004437 |
|
Name of the
company |
M AND B
ENGINEERING LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
MB House, 51 Chandoday
Society, Opposite Golden Triangle Stadium Road, Ahmedabad – 380014, Gujarat Email: info@mbproflex.com |
|
This form is for
|
Creation of charge |
|
Type of charge |
Book debts Movable property
(not being pledge) |
|
Particular of
charge holder |
Standard
Chartered Bank (Acting as an Security Agent), Credit Document Unit, Narain
Manzil, 23 Barakhamba Road, New Delhi – 110001, India Email: ashima.Tandon@sc.com |
|
Nature of
instrument creating charge |
Unattested
memorandum of hypothecation. |
|
Date of
instrument Creating the charge |
06.07.2012 |
|
Amount secured
by the charge |
Rs.330.000
Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest As per facility agreement dated 06.07.2012 to be amended from time to
time. Terms of Repayment As per facility agreement dated 06.07.2012 to be amended from time to time. Margin As per facility agreement dated 06.07.2012 to be amended from time to
time. Extent and Operation of the charge The security by way of first pari passu charge over movable fixed
assets of the company of peb project at sanand and second pari passu charge
on entire current assets of the company has been created in favour of
standard chartered bank for the purpose of securing the external commercial
borrowing facility to the extent of usd 6 million ("facility
amount") granted / to be granted to m/s M and B Engineering Limited.
("Facility"). Others For the purpose
of filing the form 8, it is clarified that the facility amount is repayable
in usd, hence, any repayment from the sale / enforcement proceeds of the
abovesaid assets shall be made at the prevailing foreign currency exchange
rate, for conversion from indian rupees to usd, at the time of repayment, to
ensure full repayment of the facility amount. |
|
Short
particulars of the property or asset(s) charged (including complete address
and location of the property) |
Hypothecation by
way of first pari passu charge over movable fixed assets of the company of
peb project at sanand, including without limitation its movable plant and
machinery, furniture and fittings, Equipment,
computer hardware, computer software, machinery spares, tools and accessories
and other movables etc. And second pari passu charge over all present and
future book debts, Outstanding
moneys receivables, claims and bills which are now due and owing or which may
at any time during the continuance of this security become due and owing to
the borrower in the course of Its business by
any person, firm, company or body corporate or by the government department
or office or any municipal or local or public or semi government body or
authority or any body corporate or Undertaking or
project whatever in the public sector and all present and future stock in
trade consisting of raw materials, finished goods, goods in process of
manufacturing and other merchandise etc. Stored or to be
stored at company's godowns or premises situated at m b house, 51, chandroday
society, opposite golden, triangle, navranpura, ahmedabad or wherever else
the same may be. |
FIXED ASSETS
·
Land
·
Factory Building
·
Plant and Machinery
·
Electrical Installation
·
Furniture and Fixtures
·
Computer
·
Office Equipments
·
Vehicle
·
Motor Buses
·
License Fees
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.87.02 |
|
Euro |
1 |
Rs.68.36 |
INFORMATION DETAILS
|
Information Gathered
by : |
PJA |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
54 |
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.