MIRA INFORM REPORT
|
Report Date : |
15.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
TOTAL TOOLS AND EQUIPMENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-57, Giriraj Industrial Estate, 1st Floor, Mahakali Caves
Road, Andheri (East), Mumbai – 400 093, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
04.08.1989 |
|
|
|
|
Com. Reg. No.: |
11-052892 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.2.000
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29220MH1989PTC052892 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMT09151C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT4144P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of high quality Tooling and Equipments. |
|
|
|
|
No. of Employees
: |
75 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 137000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having satisfactory track
record. Trade relations are reported as fair. Business is active. Payments
are reported as usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. Profit and loss account of the company for the year 2012 is not
available. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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.
INFORMATION DECLINED BY
|
Name : |
Ms. Chanda |
|
Designation : |
Admin Department |
|
Contact No.: |
91-22-40661228 |
|
Date : |
14.12.2012 |
LOCATIONS
|
Registered/ Head/ Corporate Office : |
A-57, Giriraj Industrial Estate, 1st Floor, Mahakali Caves Road,
Andheri (East), Mumbai – 400 093, Maharashtra, India |
|
Tel. No.: |
91-22-40661228/ 40661234 (30 lines) |
|
Fax No.: |
91-22-26879766/ 28759071 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
101, Shaan Industrial Estate, Plot No.17, Survey No.62, Valiv, Vasai
(East), Thane, |
|
Tel. No.: |
91-250-3027366 |
|
|
|
|
Branch Office : |
Located at : v
Pune v
v
v
Mumbai (They have 3 more branch offices) |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Linesh Dullabhdas Sheth |
|
Designation : |
Managing Director |
|
Address : |
10, Archana, 18/20, |
|
Date of Birth/Age : |
11.07.1939 |
|
Qualification : |
Engineer |
|
Date of Appointment : |
15.12.1994 |
|
DIN No : |
00092809 |
|
|
|
|
Name : |
Mr. Lokendra Dullabhdas Sheth |
|
Designation : |
Director |
|
Address : |
34, Lavina, 52-A, |
|
Date of Birth/Age : |
31.01.1946 |
|
Date of Appointment : |
15.12.1994 |
|
DIN No : |
00092670 |
|
|
|
|
Name : |
Mr. Amit Linesh Sheth |
|
Designation : |
Director |
|
Address : |
10, Archana, 18/20, |
|
Date of Birth/Age : |
16.01.1978 |
|
Qualification : |
MBA |
|
Date of Appointment : |
20.05.2003 |
|
DIN No : |
00092872 |
|
|
|
|
Name : |
Mr. Anish Linesh Sheth |
|
Designation : |
Director |
|
Address : |
Flat No.182, 8th Floor, 'B' Building, Shree Vishnu Bhagvan
Co-operative Housing Society Limited, |
|
Date of Birth/Age : |
06.05.1970 |
|
Qualification : |
Engineer |
|
Date of Appointment : |
04.08.1989 |
|
DIN No : |
00092926 |
|
|
|
|
Name : |
Mr. Chaitanya Lokendra Sheth |
|
Designation : |
Director |
|
Address : |
34, Lavina, 52-A, |
|
Date of Birth/Age : |
30.11.1976 |
|
Date of Appointment : |
15.01.1995 |
|
DIN No : |
00093002 |
KEY EXECUTIVES
|
Name : |
Ms. Chanda |
|
Designation : |
Admin Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Amit Linesh Sheth |
90000 |
|
Anish Linesh Sheth |
90000 |
|
Linesh Dullabhdas Sheth |
20000 |
|
Total |
200000 |
As on 29.09.2012
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of high quality Tooling and Equipments. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
75 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
v
Bank of
Maharashtra, Worli Branch, Ready Money Terrace, Worli Naka, Dr. A.B. Road,
Mumbai – 400 018, Maharashtra, India v
Kotak Mahindra Bank v
ICICI Bank Limited v
HDFC Bank Limited |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
@ (No repayment terms have been determined) |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P. Sanghani and Company Chartered Accountants |
|
Address : |
B-4, Parekh Apartment, Ground Floor, |
|
Tel. No.: |
91-22-26103065/ 65223065/ 32633065 |
|
Tele. Fax No.: |
91-22-26103066 |
|
E-Mail: |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAGPS0419P |
|
|
|
|
Subsidiary
Company : |
MTS Tooling
Private Limited CIN No.: U51900MH2006PTC161778 |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.10/- each |
Rs.2.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.10/- each |
Rs.2.000
millions |
|
|
|
|
|
RECONCILIATION OF SHARES
Equity Shares:
|
Particulars |
Amount (Rs. in
millions) |
|
Opening Share Capital (200000 Shares of
Rs.10/- each) |
2.000 |
|
Add: Changes during the year |
-- |
|
Closing Share Capital |
2.000 |
Term/ Rights Attached to Equity Shares
The Company has only one Class of Equity Shares
having a par value of Rs.10/- per share. Each holder of equity shares is
entitled to one vote per share.
List of Shareholders holding 5% Shares as at 31.03.2012
Equity Shares
|
Name of the Shareholders |
No. of Shares |
% of Holding |
|
Amit Sheth |
90000 |
45 |
|
Anish Sheth |
90000 |
45 |
|
Linesh Sheth |
20000 |
10 |
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 |
2.000 |
2.000 |
2.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
32.178 |
20.990 |
15.218 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
34.178 |
22.990 |
17.218 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
27.337 |
16.930 |
20.126 |
|
|
2] Unsecured Loans |
5.877 |
6.733 |
6.552 |
|
|
TOTAL BORROWING |
33.214 |
23.663 |
26.678 |
|
|
DEFERRED TAX LIABILITIES |
2.605 |
1.678 |
0.918 |
|
|
|
|
|
|
|
|
TOTAL |
69.997 |
48.331 |
44.814 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
28.107 |
26.650 |
16.205 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
8.518 |
6.850 |
10.228 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
31.577
|
19.248 |
11.972
|
|
|
Sundry Debtors |
59.005
|
71.367 |
48.136
|
|
|
Cash & Bank Balances |
3.326
|
5.506 |
4.237
|
|
|
Other Current Assets |
0.191
|
0.977 |
0.728
|
|
|
Loans & Advances |
20.291
|
4.064 |
6.723
|
|
Total
Current Assets |
114.390
|
101.162 |
71.796 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
71.044
|
73.012 |
42.774 |
|
|
Other Current Liabilities |
9.974
|
12.077 |
5.370
|
|
|
Provisions |
0.000
|
1.242 |
5.271
|
|
Total
Current Liabilities |
81.018
|
86.331 |
53.415 |
|
|
Net Current Assets |
33.372
|
14.831 |
18.381
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
69.997 |
48.331 |
44.814 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
144.766 |
113.419 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
|
144.766 |
113.419 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
100.925 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
129.887 |
100.925 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
14.879 |
12.494 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
3.517 |
2.615 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
11.362 |
9.879 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
5.591 |
2.965 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
5.771 |
6.914 |
|
|
|
|
|
|
|
|
|
Add/ Less |
EXCESS PROVISION
FOR INCOME TAX |
|
0.000 |
(0.010) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
|
8.660 |
4.696 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Equity Dividend @ 100% |
|
0.000 |
2.000 |
|
|
|
Corporate Dividend Tax |
|
0.000 |
0.340 |
|
|
|
Transfer to General Reserve |
|
0.600 |
0.600 |
|
|
BALANCE CARRIED
TO THE B/S |
|
13.831 |
8.660 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
|
6.004 |
8.941 |
|
|
TOTAL EARNINGS |
|
6.004 |
8.941 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Finished Goods |
|
56.983 |
38.541 |
|
|
TOTAL IMPORTS |
|
56.983 |
38.541 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
28.86 |
34.57 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
3.99 |
6.10
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
8.89 |
11.23
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.49 |
0.57
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.34
|
4.78 |
4.65
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.41
|
1.17 |
1.34
|
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2012 (Rs. in millions) |
31.03.2011 (Rs. in millions) |
31.03.2010 (Rs. in millions) |
|
Others |
|
|
|
|
Sundry Creditors |
66.866 |
70.723 |
3.740 |
|
Creditors for
Expenses |
4.178 |
2.289 |
39.034 |
|
Total |
71.044 |
73.012 |
42.774 |
|
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 |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last two years |
Yes |
|
12) Profitability for last two 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 |
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 |
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 |
Note:
The registered office of the company has been shifted from 107, Gambhir Industrial
Estate, C Wing, Off Aarey Road, Goregaon (East), Mumbai – 400 063, Maharashtra,
India to the present address w.e.f. 26.04.2010.
FIXED ASSETS:
v Computer
v Furniture and Fittings
v Office Equipments
v Plant and Machinery
v Tel and Mobile Phones
v Vehicles-Office
v Air Conditioners
v Office Premises
v EPBAX
v Motor Car – i10
v Maruti Car – EECO
v Bike – Wego
v Motor Car – Honda Jazz
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 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.54.39 |
|
|
1 |
Rs.87.78 |
|
Euro |
1 |
Rs.71.29 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
46 |
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.