|
Report Date : |
06.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
MAC COATINGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
H-35/A, Kirti Nagar, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on)
: |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
23.02.2000 |
|
|
|
|
Com. Reg. No.: |
55-103922 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.4.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209DL2000PTC103922 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELM12040A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCM12040A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Thermoplastics Adhesives Powder for Bonding and
Coating. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 17000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Even though
the company has achieved some growth in its sales turnover during 2012, the
profitability appears to be low. However, trade relations are reported as fair. Business is active.
Payment terms are slow. The company can be considered for business dealings with some
cautions. |
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 |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
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.
LOCATIONS
|
Registered Office : |
H-35/A, Kirti Nagar, |
|
Tel. No.: |
91-11-55423633/ 25155230/ 25939104/ 25413247 |
|
Mobile No.: |
91-9810033390 (Mr. Gautam Macker) |
|
Fax No.: |
91-11-25939104 |
|
E-Mail : |
DIRECTORS
(AS ON 28.09.2012)
|
Name : |
Mr. Gautam Macker |
|
Designation : |
Director |
|
Address : |
H-35/A, Kirti Nagar, |
|
Date of Appointment : |
20.01.2005 |
|
DIN No.: |
00542563 |
|
|
|
|
Name : |
Mr. Virender Kumar Macker |
|
Designation : |
Director |
|
Address : |
H-35/A, Kirti Nagar, |
|
Date of Appointment : |
25.02.2000 |
|
DIN No.: |
00543056 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 28.09.2012)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Virender Kumar Macker |
|
252000 |
|
Neeti Macker |
|
3000 |
|
Gautam Macker |
|
144970 |
|
Sunil Goyal (HUF) |
|
10 |
|
Anil Kumar Goyal (HUF) |
|
10 |
|
Devendr Goyal (HUF) |
|
10 |
|
|
|
|
|
Total |
|
400000 |
(AS ON 28.09.2012)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Thermoplastics Adhesives Powder for Bonding and
Coating. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
·
State Bank of Raseccc
Maintenance, Ahimsa Bhawan, Shanker Road, New Rajender Nagar, New Delhi -
110060, India ·
State Bank of Kirti Nagar, |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
V.K.K Khosla nd Company Chartered Accountant |
|
Address : |
16/14, II Floor, W.E.A. KAROL BAGH, |
|
PAN No.: |
AABFV8630Q |
|
Tel. No.: |
91-11-28759378/ 28752034 |
|
Fax No.: |
91-11-28752034 |
CAPITAL STRUCTURE
(AS ON 28.09.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400000 |
Equity Shares |
Rs.10/- each |
Rs.4.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
4.000 |
2.000 |
2.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.218 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
(0.035) |
0.447 |
|
|
NETWORTH |
4.218 |
1.965 |
2.447 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
5.994 |
9.893 |
|
|
2] Unsecured Loans |
|
19.192 |
9.618 |
|
|
TOTAL BORROWING |
23.805 |
25.186 |
19.511 |
|
|
DEFERRED TAX LIABILITIES |
0.632 |
0.582 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
28.655 |
27.733 |
21.958 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
19.517 |
20.542 |
18.868 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
14.716
|
9.172 |
2.110 |
|
|
Sundry Debtors |
8.934
|
12.653 |
11.240 |
|
|
Cash & Bank Balances |
0.950
|
0.545 |
0.134 |
|
|
Other Current Assets |
0.135
|
0.253 |
0.120 |
|
|
Loans & Advances |
0.749
|
1.378 |
0.603 |
|
Total
Current Assets |
25.484
|
24.001 |
14.207 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
12.456
|
14.603 |
8.462 |
|
|
Other Current Liabilities |
3.790
|
1.654 |
0.000 |
|
|
Provisions |
0.100
|
0.553 |
2.655 |
|
Total
Current Liabilities |
16.346
|
16.810 |
11.117 |
|
|
Net Current Assets |
9.138
|
7.191 |
3.090 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
28.655 |
27.733 |
21.958 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
34.300 |
30.449 |
32.311 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.381 |
0.043 |
3.156 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Net Profit Margin (PBT/Sales) |
(%) |
1.11
|
0.14 |
9.77 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.85
|
0.10 |
9.54 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.02 |
1.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
9.52
|
21.37 |
12.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.76
|
1.43 |
1.28 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
No |
|
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 |
No |
|
10] |
Designation of contact person |
No |
|
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 |
No |
|
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] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if
available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating, if available |
No |
OPERATIONS
The company is in the business of
manufacturing of Polymers, Powders, Modular Kitchen and Other Furniture. The company
has achieved turnover over Rs.34.300 Millions. The company has shown profit
(Before providing tax) to the tune of Rs.0.381 Million (approx.) the company is
doing well and expected to do better next year.
FORM 8
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10083763 |
|
Corporate
identity number of the company |
U25209DL2000PTC103922 |
|
Name of the
company |
MAC COATINGS
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
H-35A, Kirti
Nagar, |
|
Type of charge |
Immovable property Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
State Bank of RASECCC
Maintenance, Ahimsa Bhawan, Shanker Road, New Rajender Nagar, New Delhi –
110060, India |
|
Nature of
description of the instrument creating or modifying the charge |
Letter of
Arrangement dated 29.11.2011, Supplemental Agreement of Loan Cum
Hypothecation dated 29.11.2011 and Letter evidencing extension of equitable
mortgage dated 29.11.2011. |
|
Date of
instrument Creating the charge |
29/11/2011 |
|
Amount secured by
the charge |
Rs.12.000
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Extent and
Operation of the charge 100% Others To secure all
amounts payable under enhanced/ revised credit facilities aggregating to Rs.
12.000 Millions granted to/enjoyed by the Company |
|
Short particulars
of the property charged |
a) Hypothecation of
stock of LDPE Granules, PP Granules, HDPE Bags, Chemicals, Plastic Powder
etc. all book-debts and all machinery, vehicles of the Company - both present
and future. b) Equitable
mortgage of immovable properties of the Company situated at E-422, Industrial
Area, Chopanke, Bhiwadi, District Alwar (Rajasthan). |
|
Particulars of
the present modification |
The exclusive
first charge on stock of all goods, book-debts, all machinery and vehicles of
the Company - both present and future and equitable mortgage of immovable
properties of the Company situated at E-422, Industrial Area, Chopanki,
Bhiwadi, Alwar, Rajasthan stands enhanced from Rs.6.000 Millions to Rs.12.000
Millions |
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 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.54.56 |
|
|
1 |
Rs.87.90 |
|
Euro |
1 |
Rs.71.53 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
28 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.