MIRA
INFORM REPORT
|
Report Date : |
01.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
MACRO TECH EQUIPMENT PRIVATE LIMITED |
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Registered Office
: |
64 A, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
14.05.2007 |
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Com. Reg. No.: |
21-115745 |
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Capital Investment
/ Paid-up Capital : |
Rs. 2.271 Millions |
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CIN No.: [Company Identification
No.] |
U29253WB2007PTC115745 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
CALM08749G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Material Handling Equipment. |
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No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 21000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are reported as
fair. Business is active. Payments are reported to be slow but correct. 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. S. Kundu |
|
Designation : |
Director |
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Contact No.: |
91-9831083880 |
|
Date : |
21.01.2012 |
LOCATIONS
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Registered Office / Factory 1 : |
64 A, |
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Tel. No.: |
91-33-24666261/24634684 |
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Fax No.: |
91-33-24634684 |
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E-Mail : |
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Factory 2 : |
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Location : |
Owned |
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Works : |
25, Chanditala Branch Road, Kolkata-700053, West Bengal, India |
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Tel. No.: |
91-33-24039349 |
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Fax No.: |
91-33-24032095 |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Sudipta Kundu |
|
Designation : |
Chairman Cum Managing Director |
|
Address : |
96/1, South Sinthee Road, Kolkata – 700030, West Bengal, India |
|
Date of Birth/Age : |
22.07.1971 |
|
Date of Appointment : |
14.05.2007 |
|
DIN No.: |
01066409 |
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Name : |
Mr. Dipak Banerjee |
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Designation : |
Director |
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Address : |
64A Sadananda Road, Kolkata – 700026, West Bengal, India |
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Date of Birth/Age : |
06.03.1956 |
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Date of Appointment : |
14.05.2007 |
|
DIN No.: |
01066431 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Sudipta Kundu |
105000 |
|
Dipak Banerjee |
105000 |
|
Pears Commotrade Private Limited, India |
1750 |
|
Basukinath Agency Private Limited, India |
1850 |
|
Sparking Star Infradev Private Limited, India |
5500 |
|
Ardent Dealers Private Limited, India |
2000 |
|
Starlight Devcon Private Limited, India |
6000 |
|
Scorpio Marketing Private Limited, India |
8000 |
|
Total
|
235100 |
AS ON 10.08.2011
|
Names of Allottees |
No. of Shares |
|
Scorpio Marketing Private Limited, India |
8000 |
|
Total
|
8000 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Bodies corporate |
10.68 |
|
Directors or relatives of Directors |
89.32 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Material Handling Equipment. |
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Products / Services : |
Assembler and Servicing of Material Handling Equipments. |
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Exports : |
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Products : |
Material Handling Equipment |
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Countries : |
Germany |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
L/C, Cash |
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Purchasing : |
L/C, Cash |
GENERAL INFORMATION
|
Suppliers : |
·
Excise Battery ·
Curtis India
|
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Customers : |
Wholesalers and Retailers ·
L and T ·
Reliance |
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No. of Employees : |
60 (Approximately) |
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Bankers : |
·
HDFC Bank ·
Oriental Bank of Commerce, SSI Kolkata Branch, 43,
Rashbehari Avenue, Kolkata-700026, West Bengal, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
R Gopal and Associates Chartered Accountants |
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Address : |
1/1A, Vansittart Row, 1st Floor, Room No.6, Kolkata –
700001, West |
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Pan No.: |
AABFR4836L |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs.10/- each |
Rs. 3.000 Millions |
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|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
227100 |
Equity Shares |
Rs.10/- each |
Rs. 2.271
Millions |
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AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
300000 |
Equity Shares |
Rs.10/- each |
Rs. 3.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
235100 |
Equity Shares |
Rs.10/- each |
Rs. 2.351
Millions |
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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 |
2.271 |
2.136 |
2.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
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3] Reserves & Surplus |
3.084 |
1.269 |
0.508 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
5.355 |
3.405 |
2.608 |
|
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LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
6.830 |
6.516 |
4.768 |
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2] Unsecured Loans |
0.278 |
0.078 |
0.152 |
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TOTAL BORROWING |
7.108 |
6.594 |
4.920 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
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TOTAL |
12.463 |
9.999 |
7.528 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4.065 |
3.426 |
3.433 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.014 |
0.012 |
0.000 |
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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Inventories |
7.597
|
4.222 |
3.931
|
|
|
Sundry Debtors |
9.476
|
9.197 |
4.857
|
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|
Cash & Bank Balances |
0.170
|
0.518 |
0.509
|
|
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Other Current Assets |
0.000
|
0.000 |
0.000
|
|
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Loans & Advances |
1.364
|
0.494 |
0.542
|
|
Total
Current Assets |
18.607
|
14.431 |
9.839 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
8.783
|
6.807 |
5.225
|
|
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Other Current Liabilities |
1.439
|
0.906 |
0.245
|
|
|
Provisions |
0.270
|
0.205 |
0.339
|
|
Total
Current Liabilities |
10.492
|
7.918 |
5.809 |
|
|
Net Current Assets |
8.115
|
6.513 |
4.030
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.269 |
0.048 |
0.065 |
|
|
|
|
|
|
|
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TOTAL |
12.463 |
9.999 |
7.528 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
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SALES |
|
|
|
|
|
|
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Income |
54.332 |
45.647 |
41.329 |
|
|
|
Other Income |
0.160 |
0.146 |
1.704 |
|
|
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TOTAL (A) |
54.492 |
45.793 |
43.033 |
|
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
35.016 |
33.398 |
30.474 |
|
|
|
Factory Expenses |
11.721 |
6.380 |
7.020 |
|
|
|
Selling, Administrative & Other Expenses |
7.537 |
4.905 |
4.158 |
|
|
|
Increase / (Decrees) in Stock |
(1.950) |
(0.463) |
(0.240) |
|
|
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TOTAL (B) |
52.324 |
44.220 |
41.412 |
|
|
|
|
|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2.168 |
1.573 |
1.621 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.883 |
0.637 |
0.728 |
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|
|
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|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.285 |
0.936 |
0.893 |
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|
|
|
|
|
|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.417 |
0.305 |
0.365 |
|
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|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.868 |
0.631 |
0.528 |
|
|
|
|
|
|
|
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Less |
TAX (H) |
0.268 |
0.194 |
0.204 |
|
|
|
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|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.600 |
0.437 |
0.324 |
|
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.945 |
0.508 |
0.184 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1.545 |
0.945 |
0.508 |
|
|
|
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|
|
|
|
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|
EARNINGS IN
FOREIGN CURRENCY |
0.000 |
0.000 |
1.576 |
|
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|
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|
|
|
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|
IMPORTS VALUE |
3.202 |
3.011 |
7.575 |
|
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|
|
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|
Earnings Per
Share (Rs.) |
2.64 |
2.05 |
1.54 |
|
Expected Sales (2011-2012) : Rs. 57.000 Millions
The above information has been parted by Mr. S Kundu.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.10
|
0.95 |
0.75 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.60
|
1.38 |
1.28 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.83
|
3.53 |
3.98 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
0.19 |
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.29
|
4.26 |
4.11 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.77
|
1.82 |
1.69 |
LOCAL AGENCY FURTHER INFORMATION
|
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. Constructions of the firm |
Yes |
|
4. Premises details |
Yes |
|
5. Type of Business |
Yes |
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6. Line of Business |
Yes |
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7. Promoter’s background |
------- |
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8. No. of Employees |
Yes |
|
9. Name of person contacted |
Yes |
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10. Designation of contact person |
Yes |
|
11. Turnover of firm for last three years |
Yes |
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12. Profitability for last three years |
No |
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13. Reasons for variation <> 20% |
No |
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14. Estimation for coming financial year |
Yes |
|
15. Capital in the business |
Yes |
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16. Details of sister concerns |
No |
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17. Major suppliers |
Yes |
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18. Major customers |
Yes |
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19. Payments terms |
Yes |
|
20. Export / Import details |
Yes |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
23. Banking Details |
Yes |
|
24. Banking facility details |
Yes |
|
25. Conduct of the banking account |
------ |
|
26. Buyer visit details |
------ |
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27. Financials, if provided |
No |
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28. Incorporation details, if applicable |
------ |
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29. Last accounts filed at ROC |
------ |
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30. Major Shareholders, if available |
------ |
FORM 8
|
Corporate
identity number of the company |
U29253WB2007PTC115745 |
|
Name of the company
|
MACRO TECH
EQUIPMENT PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
64 A, |
|
This form is for |
Modification of
charge |
|
Type of charge |
·
Immovable
property ·
Book
debts ·
Movable
property (not being pledge) ·
Others |
|
Particular of
charge holder |
Oriental Bank of Commerce, SSI Kolkata Branch, 43, Rashbehari Avenue,
Kolkata-700026, West Bengal, India |
|
Nature of instrument
creating charge |
I) Supplemental
Agreement to secure credit / loan facilities dated - 22.09.2011 II) LTR 18.2
(agreement for extension of EQM) dated - 22.09.2011 |
|
Date of
instrument Creating the charge |
22.09.2011 |
|
Amount secured by
the charge |
Rs. 7.442
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Cash Credit - At
BR+3.00% i.e. 13.75% p.a. Term Loan - Base
Rate+2.50% i.e. 13.25% Terms of repayment Cash Credit - One
Year Term Loan - The
entire loan shall be repaid in 60 EMI of Rs. 0.014 million Margin Cash Credit - 25% Term Loan - 45% Extent and operation of the charge BY way of first
on all hypothecated assets and extension of EQM Other CASH CREDIT –
6.500 Millions TERM LOAN (I) –
0.342 Million TERM LOAN (II) –
0.600 Million ------------------ 7.442 Millions ------------------ |
|
Short particulars
of the property charged (Including location of the property) |
·
Hypothecation
of stocks and Book Debts of material handling machine and other current
assets of the company ·
Hypothecation
of entire fixed assets of the firm ·
Hypothecation
of one new I-20 magma (1.2) car ·
Hypothecation
of one new Scorpio VLX 1)
Extension
of EQM of Property at Joka Deed No - 07523 of 2006 for land at Dag No. 666 at
Mouza, Behala, 24 Pgs (s) 2)
Extension
of EQM of Property at Mouza, Joka Deed No 07831 of 2008 for land at Dag no
663 at Mouza Joka, Behala 24 Pgs(s) |
|
Charge
identification number of the charge to be modified |
10084377 |
|
Particulars of
the present modification |
By this
modification the overall limit has been enhanced from Rs. 6.842 Millions to Rs.
7.442 Millions as under CASH CREDIT –
6.500 Millions TERM LOAN (I) –
0.342 Million TERM LOAN (II) –
0.600 Million ------------------ 7.442 Millions ------------------ |
TRADE REFRENCES:
·
L and T
·
Reliance
·
Excise Battery
·
Curtis India
FIXED ASSETS:
- Land and Land
Development
- Mobile Phone
- Office
Equipment
- Factory Shed
- Furniture and
Fittings
- Electric
Equipment
- Plant and
Machinery
- Motor Car
- Motor Cycle
- Computer
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. 49.68 |
|
|
1 |
Rs. 78.17 |
|
Euro |
1 |
Rs. 65.51 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
32 |
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.