|
Report Date : |
06.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
PMT MACHINES LIMITED |
|
|
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|
Formerly Known
As : |
PMT MACHINE TOOL AUTOMATICS LIMITED |
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Registered
Office : |
Post Bag No. 1102 Pimpri PF, Pune-411018, |
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Country : |
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Financials (as
on) : |
30.06.2010 |
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Date of
Incorporation : |
08.09.1961 |
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Com. Reg. No.: |
11-12117 |
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Capital Investment
/ Paid-up Capital : |
Rs.140.800
Millions |
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|
|
CIN No.: [Company Identification
No.] |
U28932MH1961PLC012117 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEP00463B |
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PAN No.: [Permanent Account No.] |
AAACP4680L |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Automatic Lathes, CNC Grinding and Turning Machines and Spares. |
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|
No. of Employees
: |
Information denied by the management. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 12000000 |
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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 a well established company having satisfactory track. The management
of the company has failed to file its financials with the government
department after 2010. However, trade relations are reported as decent. Business is active.
Payments are reported to be usually correct. The company can be considered for 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 |
ICRA |
|
Rating |
BBB - (Long Term Bank Facilities) |
|
Rating Explanation |
Moderate credit risk. |
|
Date |
July 2011 |
|
Rating Agency Name |
ICRA |
|
Rating |
A3 (Short Term Debt Programme) |
|
Rating Explanation |
Moderate credit risk. |
|
Date |
July 2011 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ 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 DECLINED
|
Name : |
Mr. Ajit Kulkarni |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-20-27426219 |
|
Date : |
03.08.2012 |
LOCATIONS
|
Registered Office : |
Post Bag No. 1102 Pimpri PF, Pune-411018, |
|
Tel. No.: |
91-20-27426219/ 27426220/ 27426222/ 27426223/ 27426224/ 27473983-4/
27472309/ 27472346 |
|
Fax No.: |
91-20-27463208/ 27426235/ 27426231/ 27477023 |
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E-Mail : |
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|
Website : |
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|
Area : |
44300 Sq. ft |
|
Location : |
Owned |
|
|
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|
Head Office/ Factory 1 : |
Behind |
|
Tel. No.: |
91-20-27426219-24 |
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Fax No.: |
91-20-27426235/ 31 |
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E-Mail : |
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Factory 2: |
178, Kadachala P.O. Vitoj, Taluka Halol, Panchmahal-389350, |
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Tel. No.: |
91-2676-246786/ 87 |
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Fax No.: |
91-2676-246788 |
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E-Mail : |
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Warehouse/ Factory 3 : |
Gat No.624, Hissa 4 E, 6 and 8, Village Kurali, Pune Nasik Road, Taluka Khed, District Pune, Maharashtra, India |
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Branch Office : |
Located At: · Mumbai · Delhi · Bangalore · Chennai · Coimbatore · Jamshedpur · Kolkata · Vadodara · Thane |
DIRECTORS
As on 31.12.2009
|
Name : |
Mr. Nitin Jayantilal Sandesara |
|
Designation : |
Director |
|
Address : |
329, Jawahar Nagar, Goregaon (West), Mumbai – 40 0062,
Maharashtra, |
|
Date of Birth/Age : |
19.03.1960 |
|
Date of Appointment : |
25.10.1994 |
|
Din No.: |
00255496 |
|
Voter ID No.: |
WCS2098606 |
|
|
|
|
Name : |
Mr. Rajbhashan Omprakash Dixit |
|
Designation : |
Director |
|
Address : |
204/12, Jawahar Nagar, Goregaon (West), Mumbai – 400 062, |
|
Date of Birth/Age : |
20.07.1961 |
|
Date of Appointment : |
25.10.1994 |
|
Din No.: |
00025484 |
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|
|
|
Name : |
Mr. Chetan Jayantilal Sandesara |
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Designation : |
Director |
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Address : |
329, Jawahar Nagar, Goregaon (West), Mumbai – 400 062, |
|
Date of Birth/Age : |
25.09.1962 |
|
Date of Appointment : |
17.02.1995 |
|
Din No.: |
00255671 |
KEY EXECUTIVES
|
Name : |
Mr. Krushnakant R. Patel |
|
Designation : |
Secretary |
|
Address : |
9, Aadarsh Colony, Opposite Krishna Cinema, |
|
Date of Birth/Age : |
30.01.1969 |
|
Date of Appointment : |
01.10.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 31.12.2009
|
Names of Shareholders |
|
No. of Shares |
|
Chetan
J. Sandesara |
|
1023600 |
|
Nitin Jayantilal Sandesara |
|
2125600 |
|
Narendrabhai
B. Patel |
|
130160 |
|
Jayshreeben
Patel |
|
204000 |
|
Hitesh
Patel |
|
200800 |
|
Mayuri
H. Patel |
|
251840 |
|
Dipti
C. Sandesara |
|
84000 |
|
Trupti
N. Patel |
|
60000 |
|
Gabriel
Investments Private Limited, |
|
320000 |
|
Jangpriya
Investments Private Limited , |
|
320000 |
|
Panoramic
Investments Private Limited, |
|
480000 |
|
Richmond
Investments Private Limited , |
|
320000 |
|
Blue-Mark
Mercantile Private Limited , |
|
640000 |
|
Puja
Aqua Farms Private Limited , |
|
640000 |
|
Helicopter
Services Private Limited , |
|
220000 |
|
Avon
Bone Products Limited, |
|
560000 |
|
Bally
Trading Private Limited, |
|
400000 |
|
Britney
Trading Private Limited, |
|
400000 |
|
Dipraj
Trading Private Limited, |
|
400000 |
|
Doral
Trading Private Limited , |
|
400000 |
|
Embio
Trading Private Limited, |
|
400000 |
|
Gatsby
Trading Private Limited, |
|
400000 |
|
Eminence
Trading Private Limited , |
|
760000 |
|
Newport
Enterprises Limited, |
|
560000 |
|
Reshma
Enterprises Private Limited, |
|
340000 |
|
Sarovar
Trading Private Limited, |
|
340000 |
|
Shreeji
Drug Pharma Private Limited, |
|
340000 |
|
|
|
340000 |
|
Unique
Proteins Private Limited , |
|
400000 |
|
Lotus
Glycol Limited, |
|
560000 |
|
Raj
Bones Limited, |
|
460000 |
|
|
|
|
|
Total |
|
14080000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Automatic Lathes, CNC Grinding and Turning Machines and Spares. |
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Products : |
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PRODUCTION STATUS (AS ON 30.06.2010)
|
Actual Production |
1680 in Nos. |
GENERAL INFORMATION
|
No. of Employees : |
Information denied by the management. |
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Bankers : |
v
UCO Bank, Pimpari Branch, PF Pimpri,
Pune-411018, v
UCO Bank, Mid Corporate Branch, Pimpri,
Pune-411018, v
Andhra Bank, 610, v
Punjab National Bank, Pune v
Indian Bank, Deccan Gymkhana Branch,
Pune-411004, v
Oriental Bank of Commerce, Pimpri, Pune, v
HDFC Bank Limited, Lower Parel, Mumbai, v
State Bank of |
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Facilities : |
NOTE: *
Term Loan and External Commercial Borrowings are secured by way of first charge
over the Fixed Assets of the company. |
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Banking
Relations : |
-- |
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Financial Institution: |
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Auditors : |
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|
Name : |
H. S. Hathi and Company Chartered Accountants |
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Address : |
Plot No. 110/5, Jawahar Nagar, Goregaon (West), Mumbai-400062, |
CAPITAL STRUCTURE
As on 30.06.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
14080000 |
Equity Shares |
Rs.10/- each |
Rs.140.800
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
30.06.2010 |
30.06.2009 |
30.06.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
140.800 |
140.800 |
140.800 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2865.875 |
2462.035 |
2076.509 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3006.675 |
2602.835 |
2217.309 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3645.879 |
3520.720 |
3317.661 |
|
|
2] Unsecured Loans |
500.000 |
500.056 |
250.000 |
|
|
TOTAL BORROWING |
4145.879 |
4020.776 |
3567.661 |
|
|
DEFERRED TAX LIABILITIES |
542.803 |
446.396 |
313.880 |
|
|
|
|
|
|
|
|
TOTAL |
7695.357 |
7070.007 |
6098.850 |
|
|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3487.953 |
3258.296 |
3300.643 |
|
|
Capital work-in-progress |
586.371 |
651.696 |
161.696 |
|
|
|
|
|
|
|
|
INVESTMENT |
41.573 |
22.900 |
75.028 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2140.129
|
2045.619 |
1802.462 |
|
|
Sundry Debtors |
844.171
|
671.974 |
614.811 |
|
|
Cash & Bank Balances |
474.321
|
749.412 |
464.285 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
649.394
|
234.217 |
201.747 |
|
Total
Current Assets |
4108.015
|
3701.222 |
3083.305 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
351.800
|
420.812 |
367.200 |
|
|
Other Current Liabilities |
74.255
|
77.295 |
74.622 |
|
|
Provisions |
102.500
|
66.000 |
80.000 |
|
Total
Current Liabilities |
528.555
|
564.107 |
521.822 |
|
|
Net Current Assets |
3579.460
|
3137.115 |
2561.483 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
7695.357 |
7070.007 |
6098.850 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.06.2010 |
30.06.2009 |
30.06.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
3947.127 |
3664.242 |
3212.039 |
|
|
|
Other Income |
29.234 |
26.335 |
20.935 |
|
|
|
TOTAL (A) |
3976.361 |
3690.577 |
3232.974 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Expenses |
2380.142 |
2287.622 |
1983.655 |
|
|
|
Personnel Expenses |
243.895 |
231.802 |
203.635 |
|
|
|
Selling and Administrative
Expenses |
300.536 |
269.953 |
238.178 |
|
|
|
Increase and Decrease in Stock |
(43.413) |
(138.004) |
(253.167) |
|
|
|
TOTAL (B) |
2881.160 |
2651.373 |
2172.301 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1095.201 |
1039.204 |
1060.673 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
273.481 |
260.992 |
232.256 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
821.720 |
778.212 |
828.417 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
218.973 |
194.170 |
145.714 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
602.747 |
584.042 |
682.703 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
198.907 |
198.516 |
232.051 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
403.840 |
385.526 |
450.652 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1656.982 |
1271.456 |
820.804 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2060.822 |
1656.982 |
1271.456 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
229.268 |
296.453 |
275.840 |
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
487.611 |
621.524 |
514.052 |
|
|
|
Capital Goods |
55.801 |
85.327 |
222.801 |
|
|
|
Spares and Consumable |
0.000 |
0.000 |
4.543 |
|
|
TOTAL IMPORTS |
543.412 |
706.851 |
741.396 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
28.68 |
27.38 |
32.01 |
|
KEY RATIOS
|
PARTICULARS |
|
30.06.2010 |
30.06.2009 |
30.06.2008 |
|
PAT / Total Income |
(%) |
10.16
|
10.45 |
13.94 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
15.27
|
15.94 |
21.25 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.94
|
8.39 |
10.69 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.22 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.40
|
1.76 |
1.84 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
7.77
|
6.56 |
5.91 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY CREDITORS:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry Creditors |
351.800
|
420.812 |
367.200 |
|
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 |
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 |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
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 |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
No |
|
30) Major Shareholders, if available |
Yes |
|
31) PAN
of Proprietor/Partner/Director, if available |
No |
|
32) Passport
No of Proprietor/Partner/Director, if available |
No |
|
33) Voter
ID No of Proprietor/Partner/Director, if available |
Yes |
NATURE OF
OPERATIONS:
Subject is engaged in the manufacturing of Automatic Lathes, CNC Grinding
and Turning Machines and Spares thereof.
OPERATIONS:
During the year, the company has achieved total sales of Rs.3947.127
millions as against Rs.3664.242 millions in the previous year, an increase by
7.7 per cent. Gross profit during the year is Rs.1095.201 millions as compared
to Rs.1039.204 millions in the previous year. Profit after tax for the year is
Rs.403.840 millions as compared to Rs.385.526 millions in 2008-2009, an
increase by 4.7 per cent. Despite tremendous competition and persisting
economic slowdown at the domestic as well as at global level, the company has
been able to enhance the business and increase the profitability as compared to
last year. Given the current scenario, the company is confident of maintaining
its growth by sustained focus on quality, latest technology, product
innovation, foray into precision components business considering the latest
market demand and competent management of resources.
YEAR IN
RETROSPECT:
The company's foray into manufacturing of Job work related to precision
engineering components has been very successful. The facilities set up by the
company are world class and a number of large customers have approved the
facility, which has resulted in increased business opportunity for the company.
FUTURE PROSPECTS:
The Company has equipped itself to leverage opportunities presented due
to the Capital Goods Industry, Automobile and Infrastructure Projects, which
were performing well. The Company’s strength is high designing and engineering
capability with low labor cost. The Company has witnessed higher demand from
all fronts, domestic as well as from overseas. The order book position of the
Company as compared to the previous year has been encouraging and the Directors
are sure that the future prospects of the Company are bright.
MANAGEMENT
DISCUSSION AND ANALYSIS:
REVIEW OF ECONOMIC
SCENARIO:
The Indian economy, in the 2009-2010, commenced on a good note,
particularly at a time, when the economy suffered a significant slowdown in its
GDP growth rate to 6.8% in 2008-2009 as well as the return of a large projected
fiscal deficit of 6.8% of GDP, which would be among the highest in the whole
world.
The global slowdown in 2008, which continued well through 2009, brought
us to face new set of realities. While the country continues to face the issues
existed such as declining market share, the new challenges came in the form of
inability to tap new opportunities from emerging customer segments, enhancing
capacities and low cost second-hand segment. On the other hand, the economy has
positive developments too as there are a high growth in all the economic
indicators of the country. The GDP growth rate is 8.9% for the second quarter
of fiscal year 2010-11.
As per the latest world economic review, there has been an increase of
6.4% in prices of oil. This has happened owing to an announcement of deductions
in supply by
Most of the companies and common consumers have cut down on their usage
of energy resources to a significant extent in recent times owing to
uncertainty in global financial scenario. As per the financial experts, the
housing benefit program, initiated by Barack Obama, would not be able to help
all the sectors of the
There are signs of recovery prevalent, particularly in Asian countries
like
BUSINESS
PERFORMANCE:
Given the adverse economic conditions and business, the Company achieved
a satisfactory growth in order flow during 2009-2010. The sales growth during
the year was impressive as a healthy performance in the engineering segment was
prevalent. During the year, the Company has achieved revenue of 3.95 billion as
compared to 3.66 billion in 2008-2009, an increase by 7.7 per cent.
MACHINE TOOLS
INDUSTRY OVERVIEW:
GLOBAL:
Machine tool is a huge industry and is also fundamental for the
investment goods industry as it provides the principal industrial equipment
base for the manufacturing industries; and this global manufacturing industry
relies on machine tools for its core activities. Looking at the other way, the
global economic activities and global consumer spending would decide the growth
of the industrial production and in turn, the use of machine tools in
manufacturing. The industry, therefore, has developed a strong correlation with
the global economic growth and economic activities.
The production and consumption of the machine tools is concentrated
regionally.
There are variations in the consumption patterns. Countries like
In terms of application, automobiles are the major end users of machine
tools. With the global economic slowdown, the automobiles production has been
affected and so is the effect on machine tools. However, industries like
electronics or electrical machinery and equipment applications are expected to
experience a fast growth.
Further, growth in world machine tool demand is expected through the
latter part of the decade, with emerging Asian powers such as
However, in the European countries, in the recent months, there has been
no clear signal that the machine tool industry has entered a suitable phase of
recovery. The only way to cope this problem is to go to the next level of
technical innovation, and also encourage the users to choose more energy
efficient, sophisticated and environmentally friendly techniques. Meanwhile,
machine tool consumption in Asia has become the world's major markets, 2009,
Increasingly, end users of machine tool products are demanding
process-based solutions that require less in the way of physical product.
Concomitant with these trends is the development of highly sophisticated,
durable machine tools requiring less frequent replacement. This will enhance
the competitive advantage of toolmakers able to supply such solutions, and will
prompt further restructuring of the world machine tool industry, following the
extensive amount of consolidation that occurred during the global downturn or
prior periods.
INDIA:
The Indian machine tool industry manufactures almost the complete range
of metal-cutting and metal-forming machine tools. Customized in nature, the
products from
The significant development in the machine tool industry in recent times
has been the Computer Numerically Controlled (CNC) machines. Emergence of CNC
machine tools and its dominance over the last few years in the overall product
segment stemmed from its value-added features, such as enhanced productivity,
higher precision, increased reliability, better finishing, and improved
aesthetics and design. Achievement of higher growth and increased share of CNC
machines in the overall output surmises the commitment of Indian machine tool
manufacturers to providing competitive manufacturing solutions at cost
effective prices.
In terms of key product segments, high growth areas for the Indian
machine tool industry include turning centers, machining centers, grinding
machines, and cell manufacturing, amongst others. The other emerging demand is
for total manufacturing solutions, whereby users seek to economize on
manufacturing cost and time.
The machine tool industry will survive the recession phase with the
government and the industry taking policy changing decisions and corrective
measures with the larger picture of the industry in focus. The machine tool
industry will grow despite a 5 per cent cancellation in orders from the
prospective customers in the automobile and auto components sector though the
increasing domestic demand is not currently met by domestic production, leading
to dependence on imports, favorable market conditions, availability of
materials, manpower and support industries, and support from government is expected
to lead to increased investment in this sector in future. Many players in the
sector are trying to increase their capacity and, thus, with improvements in
Rand D, design and product development capabilities,
COMPANY OVERVIEW:
Subject was established in 1961 by
A part of the Sandesara Group, Subject is a market leader in machine
tool industry with more than 80 percent market share in all its product lines
in
Collaboration and Research to maintain its market leadership, Subject
collaborated with world leaders such as Mikrosa, Fortuna Pittler and Voumard.
Additionally, augmenting in-house R and D capabilities have created high entry
barriers for competitors. The Company's technical strength has facilitated
in-house development of various successful new models. In addition to its
technological strength, Subject is also renowned for its customized designs and
high product quality.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U28932MH1961PLC012117 |
|
Name of the
company |
PMT MACHINES
LIMITED |
|
Address of the
registered office or of the principal place of business in |
Post Bag No. 1102 Pimpri PF, Pune-411018, |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Sicom Limited, Solitaire Corporate Park, Building No. 4, |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of
Entry dated 07.07.2011 |
|
Date of
instrument Creating the charge |
07.07.2011 |
|
Amount secured by
the charge |
Rs.150.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per the
Sanction Letter Terms of
Repayment As per the
Sanction Letter Margin As per the
Sanction Letter Extent and
Operation of the charge Equitable
Mortgage of Flat No. 501 and 502, 5th floor in Building/wing No. M-2 of
Empire Estate, at Chinchwad, Pune. |
|
Short particulars
of the property charged |
I)
Equitable
Mortgage of Flat No. 501 and 502, 5th floor in Building/wing No. M-2 of
Empire Estate, at Chinchwad, Pune II)
Memorandum
of Entry dated 07.07.2011 |
FIXED ASSETS:
v
Land
v
Building
v
Plant
and Machinery
v
Jigs
and Fixtures
v
Vehicles
v
Workshop
Equipments
v
Computer
Accessories
v
Patterns
v
Electrical
Fittings
v
Office
Equipments
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
|
Information Gathered
by : |
SBA |
|
|
|
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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.