MIRA INFORM REPORT
|
Report Date : |
22.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
GARTECH EQUIPMENTS PRIVATE LIMITED |
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Registered
Office : |
S. No. 137/138, Chale, Mulshi, Pune - 412108, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
19.06.2001 |
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Com. Reg. No.: |
11-016213 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.500
Million |
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CIN No.: [Company Identification
No.] |
U29299PN2001PTC016213 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporters of Poultry Equipments. |
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No. of Employees
: |
90 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 164000 |
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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 and reputed company having
satisfactory track record. Trade relations are 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. |
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 PARTED BY
|
Name : |
Mr. S Giram |
|
Designation : |
Accounts Department |
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Contact No.: |
91-20-65101438 |
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Date : |
21.12.2012 |
LOCATIONS
|
Registered Office/ Factory : |
S. No. 137/138, Chale, Mulshi, Pune - 412108, Maharashtra, India |
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Tel. No.: |
91-20-65101438 / 24479119 / 24101438 / 64104374 |
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Mobile No.: |
91-9822545658 (Mr. Mahesh Bhatkar) |
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Fax No.: |
91-20-27290586 / 22933675 |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Vijay Sharadchandra Salvekar |
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Designation : |
Director |
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Address : |
G-28, Chidananad Co-operative Housing Society, Pashan, Pune - 411021,
Maharashtra, India |
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Date of Birth/Age : |
02.02.1972 |
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Date of Appointment : |
19.06.2001 |
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DIN No.: |
00388010 |
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Name : |
Mr. Devendra Harish Garware |
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Designation : |
Director |
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Address : |
524, Datta Sudha, Lane No. 4, Sind Co-operative Society, Baner Road,
Aundh, Pune – 411007, Maharashtra, India |
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Date of Birth/Age : |
12.09.1984 |
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Date of Appointment : |
03.07.2004 |
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DIN No.: |
00388098 |
KEY EXECUTIVES
|
Name : |
Mr. S Giram |
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Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Vijay Sahardchandra Salvekar |
|
1 |
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Devendra Harish Garware |
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21799 |
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Rekha Garware |
|
10400 |
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Harish Garware |
|
17800 |
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Total |
|
50000 |
AS ON 13.10.2012
|
Names of Shareholders |
|
No. of Shares |
|
Devendra Harish Garware |
|
14950 |
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Rekha Garware |
|
26350 |
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Harish Garware |
|
58700 |
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Total |
|
100000 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
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Category |
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Directors
or relatives of directors |
|
100.00 |
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Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporters of Poultry Equipments. |
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Products : |
Ø Cage Systems Ø Floor Management
Systems Ø Nest systems Ø Environment
Control Systems Ø Egg Handling and
Processing Systems Ø Feeding Systems Ø Manure Handling
systems |
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Exports : |
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Products : |
Poultry Equipments |
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Countries : |
Ø
Africa Ø
Nigeria Ø
Ghana Ø
Nepal Ø
Bangladesh Ø
Malaysia |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Ø
Taiwan Ø
Germany Ø
Malaysia |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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Customers : |
Retailers and End Users |
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No. of Employees : |
90 (Approximately) |
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Bankers : |
Ø Central Bank of India,
Pune Camp Branch, 317, M. G. Road, Pune - 411001, Maharashtra, India Ø Saraswat
Co-operative Bank Limited Ø Standard
Chartered Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S P C M and Associates Chartered Accountants |
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Address : |
1211/B, Shukrawar Peth, Subhash Nagar, Lane No. 4, Pune – 411002,
Maharashtra, India |
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Tel. No.: |
91-20-24479119 |
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Fax No.: |
91-20-24486663 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AABFB8864C |
CAPITAL STRUCTURE
AS ON 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
150,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.500 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
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|
150,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.500 Millions |
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AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
150,000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.500 Millions |
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|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
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|
50,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500
Million |
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Reconciliation of the number of shares outstanding at the beginning and
at the end of the reporting period
|
Particulars |
31.03.2012 |
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Number |
Amount |
|
Shares outstanding at the beginning of the
year |
50000 |
0.500 |
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Shares issued during the year |
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Shares bought back during the year |
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Shares outstanding at the end of the year |
50000 |
0.500 |
Shares in the company held by each shareholder holding more than 5%
Shares specifying the number of shares held.
|
Particulars |
31.03.2012 |
|
|
|
Number |
Amount |
|
Harish Garware |
17800 |
36.00 |
|
Devendra Harish Garware |
21799 |
44.00 |
|
Rekha Garware |
10400 |
21.00 |
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 |
|
|
|
|
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1] Share Capital |
0.500 |
0.500 |
0.400 |
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2] Share Application Money |
1.080 |
1.080 |
0.000 |
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3] Reserves & Surplus |
39.315 |
25.802 |
15.815 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
40.895 |
27.382 |
16.215 |
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LOAN FUNDS |
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|
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|
|
1] Secured Loans |
84.900 |
56.628 |
35.300 |
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2] Unsecured Loans |
2.490 |
2.490 |
2.489 |
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TOTAL BORROWING |
87.390 |
59.118 |
37.789 |
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DEFERRED TAX LIABILITIES |
6.636 |
3.714 |
2.972 |
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TOTAL |
134.921 |
90.214 |
56.976 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
124.705 |
48.369 |
42.692 |
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Capital work-in-progress |
0.000 |
3.336 |
0.000 |
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INVESTMENT |
0.046 |
0.046 |
0.094 |
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DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
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Inventories |
70.081
|
30.659 |
23.178
|
|
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Sundry Debtors |
37.676
|
23.790 |
33.440
|
|
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Cash & Bank Balances |
18.830
|
18.405 |
6.894
|
|
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Other Current Assets |
5.323
|
5.398 |
0.000
|
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Loans & Advances |
22.890
|
24.410 |
11.846
|
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Total
Current Assets |
154.800
|
102.662 |
75.358
|
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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Sundry Creditors |
42.118
|
34.906 |
17.222
|
|
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Other Current Liabilities |
100.321
|
27.961 |
41.374
|
|
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Provisions |
2.191
|
1.332 |
3.303
|
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Total
Current Liabilities |
144.630
|
64.199 |
61.899
|
|
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Net Current Assets |
10.170
|
38.463 |
13.459
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.731 |
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|
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TOTAL |
134.921 |
90.214 |
56.976 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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TURNOVER |
378.768 |
264.483 |
120.073 |
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EXPENSES |
NA |
NA |
NA |
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GROSS PROFIT |
78.390 |
54.405 |
32.692 |
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PROFIT BEFORE
TAX |
20.961 |
14.922 |
5.578 |
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BALANCE IN
PROFIT LOSS A/C |
40.641 |
25.801 |
15.815 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.50
|
9.88
|
4.72
|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.51
|
0.54
|
0.34
|
|
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Debt Equity Ratio (Total Liability/Networth) |
|
5.67
|
4.50
|
6.15
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.07
|
1.60
|
1.22
|
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
||
|
Trade payable |
33.251 |
26.520 |
|
|
Others |
8.867 |
8.386 |
|
|
Total |
42.118 |
34.906 |
17.222 |
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
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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
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 |
Yes |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
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 SNC 140/3, Behind Tube Investments Lo Tathawade, Pune-411033,
Maharashtra, India shifted to present registered address w.e.f 01.08.2007.
FINANCIAL RESULTS:
The Company is mainly engaged in the
business of manufacturing of Poultry Equipments. During the year, the
Company has achieved turnover/receipts of Rs. 378.768 millions against Rs. 264.483
millions in the previous year, showing a increase of 43.21 % over the previous year. The Company's profit before tax for the year recorded a increase of 40.47 %
to Rs.20.961 millions as compare to last year Rs.14.922 millions.
The company looks forward for a bright future in the coming years, since the company
possesses ample resources, technical know-how and expertise in this industry and full-fledged ready to offer best of it, the
Company will try to continue on its strategy to offer best products in the
field of Poultry Equipments.
In view of future plans of expansion and diversification,
the directors decided not to recommend any dividend for the year and wish to
plough back the profit for future expansion of the business.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U29299PN2001PTC016213 |
|
Name of the
company |
GARTECH
EQUIPMENTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
S. No. 137 / 138, Chale, Mulshi,
Pune-412108, E-Mail Id: jain_mr75@yahoo.com |
|
This form is for |
Modification of charge |
|
Charge
identification number of the modified |
10282946 |
|
Type of charge |
Immovable Property |
|
Particular of
charge holder |
Central Bank of E-Mail Id: agmpune0658@centralbank.co.in
|
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of
Entry No. In the matter of mortgage by deposit of title deeds. |
|
Date of
instrument Creating the charge |
03.06.2011 |
|
Amount secured by
the charge |
Rs. 63.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As determined by
bank Terms of Repayment As determined by
bank Margin As determined by
bank Extent and Operation of the charge The charge covers
the sanctioned credit facilities along with the interest, penal interest and
other charges. |
|
Short particulars
of the property charged |
Immovable
properties situated at Gat. No. 137 and 138 Chale Road, Near Paud Village,
Taluka Mulshi, District Pune. Immovable
properties situated at Gat. No.132 and 135 Chale Road, Mouje Chale Taluka
Mulshi, District Pune. Immovable
properties situated at Gat. No.127 and 128 Mouje Chale ,Taluka Mulshi,
District Pune. |
|
Particulars of
the present modification |
The Original
charge was created on 23.03.2011 of Rs. 62.000 Millions inclusive of Cash
Credit (CC) of Rs.10.000 Millions, Letters of Credit of Rs.5.000 Millions,
Term Loan of Rs. 35.000 Millions and Credit Cum Export Bills of Rs.12.000
Millions. By this First Modification term loan was increased by Rs.1.000
Million making Total Term Loan of Rs. 36.000 Millions. The Grand Total
becomes Rs.63.000 Millions. (Term Loan - Rs. 36.000 + CC - Rs 10.000+ PC Cum
EBP 12.000+ Letter of credit 5.000). |
FIXED ASSETS:
Ø Computers
Ø Building
Ø Vehicles
Ø Plant and Machinery
Ø Furniture and Fixture
Ø Electronic Equipment
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. 55.09 |
|
|
1 |
Rs. 89.54 |
|
Euro |
1 |
Rs. 72.77 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
BVA |
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 |
7 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
51 |
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.