MIRA
INFORM REPORT
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Report Date : |
07.02.2012 |
IDENTIFICATION DETAILS
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Name : |
INDOTECH INDUSTRIAL SOLUTIONS PRIVATE LIMITED |
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Registered
Office : |
Office No. 1 and 2, |
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Country : |
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Financials (as
on) : |
31.03.2009 |
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Date of
Incorporation : |
19.06.2006 |
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Com. Reg. No.: |
11-128617 |
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Capital
Investment / Paid-up Capital : |
Rs.9.575 Millions |
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CIN No.: [Company Identification
No.] |
U72900PN2006PTC128617 |
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PAN No.: [Permanent Account No.] |
AABCI5302B |
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TAN No.: [Tax Deduction & Collection
Account No.] |
PNEI05034B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Panel |
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No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (30) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 56000 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The
management has not filed the financials of the company with the government departments
after the year 2009. However, Trade relations are reported as fair. Business
is active. Payments are unknown. The company can be considered for business dealings with same
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
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. Kailas Patane |
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Designation : |
Manager |
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Contact No.: |
91-9960000903 |
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Date : |
23.01.2012 |
LOCATIONS
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Registered Office : |
Office No. 1 and 2, Ankur Plaza, Mumbai- Bangalore Highway, Near Flyover
Warje, Pune-411058, Maharashtra, India
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Tel. No.: |
91-20-25233455 / 25232221 |
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Mobile No.: |
91-9960000903 (Mr. Kailas Patane ) |
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Fax No.: |
91-20-25231588 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory : |
81/5 Dangat Industrial Estate. Near Agrawal Godown, |
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Branch Office 1 : |
No.68 Dutts, 2nd Stage, Yeshwantpur, |
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Branch Office 1 : |
Located at |
DIRECTORS
As on 30.09.2009
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Name : |
Mrs. Hemlata Bhausaheb Janjire |
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Designation : |
Director |
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Address : |
F2, Kamal Heritage Lane No.5, tapodhan Warje, Pune-411058, |
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Date of Birth/Age : |
13.01.1979 |
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Date of Appointment : |
19.06.2006 |
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DIN No.: |
01774550 |
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Other
Directorship :
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Name : |
Mrs. Sangita Vijaysingh Kadam |
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Designation : |
Director |
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Address : |
278/12, Tapkir Nagar, Taibai Rajewadi Path, Opposite Nandkumar Bottale
Colony, Pune-411017, |
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Date of Birth/Age : |
19.11.1971 |
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Date of Appointment : |
19.06.2006 |
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DIN No.: |
01776944 |
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Name : |
Mr. Bhausaheb Bapurao janjire |
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Designation : |
Director |
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Address : |
F2, Kamal Heritage Lane No.5, tapodhan Warje, Pune-411058, |
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Date of Birth/Age : |
02.06.1976 |
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Date of Appointment : |
21.06.2006 |
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DIN No.: |
01810252 |
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Other
Directorship :
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SHAREHOLDING PATTERN
As on 30.09.2009
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Names of Shareholders |
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No. of Shares |
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Hemlata Bhausaheb Janjire |
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33200 |
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Sangita Vijysingh Kadam |
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29970 |
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Bhausaheb Bapurao Janjire |
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27550 |
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Vijaysingh Kadam |
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5030 |
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Total |
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95750 |
As on 30.09.2009
Equity Share Break up
|
Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Panel |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
GENERAL INFORMATION
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Customers : |
Retailer and End users |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
R.J. Lahoti and Company Chartered Accountants |
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Address : |
481/C, Shreepal Chambers, Shaniwar peth, Pune-411030, |
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PAN.: |
AAJPL7150R |
CAPITAL STRUCTURE
After 30. 09.2009
Authorised Capital: Rs, 15.000 Millions
Issued, Subscribed & Paid-up Capital: Rs.12.000 Millions
As on 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
100000 |
Equity Shares |
Rs.100/- each |
Rs.10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
95750 |
Equity Shares |
Rs.100/-
each |
Rs.9.575
Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
9.575 |
8.575 |
2.600 |
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2] Share Application Money |
0.000 |
0.00 |
2.400 |
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3] Reserves & Surplus |
4.671 |
2.522 |
0.690 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
14.246 |
11.097 |
5.691 |
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LOAN FUNDS |
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1] Secured Loans |
32.890 |
17.417 |
8.105 |
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2] Unsecured Loans |
0.161 |
1.450 |
0.000 |
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TOTAL BORROWING |
33.051 |
18.867 |
8.105 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
47.297 |
29.964 |
13.796 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
7.286 |
2.955 |
2.791 |
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Capital work-in-progress |
0.000 |
0.00 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
7.593
|
4.156 |
0.751 |
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Sundry Debtors |
22.860
|
19.446 |
10.919 |
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Cash & Bank Balances |
0.552
|
0.331 |
1.028 |
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Other Current Assets |
13.350
|
10.328 |
0.00 |
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Loans & Advances |
0.000
|
0.000 |
6.142 |
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Total
Current Assets |
44.355
|
34.261 |
18.840 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
3.167
|
5.740 |
7.421 |
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Other Current Liabilities |
0.784
|
1.489 |
0.000 |
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Provisions |
0.470
|
0.139 |
0.568 |
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Total
Current Liabilities |
4.421
|
7.368 |
7.989 |
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Net Current Assets |
39.934
|
26.893 |
10.851 |
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MISCELLANEOUS EXPENSES |
0.077 |
0.116 |
0.154 |
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TOTAL |
47.297 |
29.964 |
13.796 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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Income |
68.932 |
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Other Income |
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TOTAL |
68.932 |
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Less |
EXPENSES |
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NA |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
65.279 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) |
3.652 |
3.325 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
0.464 |
0.349 |
NA |
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PROFIT BEFORE
TAX |
3.188 |
2.976 |
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Less |
TAX |
1.039 |
1.145 |
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PROFIT AFTER TAX
|
2.149 |
1.831 |
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Less |
APPROPRIATIONS |
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Transfer to General Reserve |
2.100 |
1.800 |
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BALANCE CARRIED
TO THE B/S |
0.049 |
0.031 |
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Earnings Per
Share (Rs.) |
22.45 |
19.12 |
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Particulars |
|
31.03.2011 |
31.03.2010 |
|
Sales Turnover (Approximately) |
|
100.000 |
80.000 |
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The above information has been parted by Mr. Kailas Patane
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
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PAT / Total Income |
(%) |
3.12
|
NA |
Na |
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Return on Total Assets (PBT/Total Assets} |
(%) |
6.17
|
8.00 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.27 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.63
|
2.36 |
2.83 |
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Current Ratio (Current Asset/Current Liability) |
|
10.03
|
4.65 |
2.36 |
LOCAL AGENCY FURTHER INFORMATION
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Check List by Info Agents |
Available in Report (Yes / No) |
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1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
Yes |
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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 |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for last two 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 |
No |
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15) Capital in the business |
Yes |
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16) Details of sister concerns |
No |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
Yes |
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20) Export / Import details (if applicable) |
No |
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21) Market information |
-- |
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22) Litigations that the firm / promoter |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
No |
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25) Conduct of the banking account |
-- |
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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 |
-- |
Operations:
This is the Third annual report of the company. During the financial
year, the Net profit before Depreciation and tax has been increased to Rs.3.652
Millions as compare to last year net profit before depreciation and tax of
Rs.3.325 Millions.
In spite of worldwide economic slowdown, even if the company sales
turnover has been slightly reduced, but overall all profitability of the
company has been increased as compared to previous year.
Focus on quality, diversity services to clients, after sales service to
customer of the company has resulted in modest profit. Your directors are taking
continuous efforts through efficient working for maintaining upward trend in
profits.
Outlook:
Due to continued sincere efforts of the directors, the working of the
company during the current year is excellent. The company has developed many new
customers in addition to permanent relation with exiting customers.
Further, during the current year. Bhausaheb B. Janjire has been awarded
the JRD Tata Young Entrepreneur Award by vice- president Hamid Ansari. In
Further, having dynamic efficient resourceful directors for efficient
management and operation of the company, prospectus of the company are very
bright.
Further the directors foresee a
great and immense opportunity in the area of security and safety of data. The
directors are competent and taking sincere efforts to maintain the successful
result oriented trend of the company.
Note:
The registered office of the company has been
sifted from ” Off Shop 9, Bina Heritage, S No.125/A/1A/2 Tirupati Nagar Road,
Jakatnaka, Warje Pune, Maharashtra, India to the present address w.e.f.
05.05.2009
Form 8
|
Corporate
identity number of the company |
U72900PN2006PTC128617 |
|
Name of the
company |
INDOTECH
INDUSTRIAL SOLUTIONS PRIVATYE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Office No. 1 and 2, Ankur Plaza, Mumbai- Bangalore Highway, Near
Flyover Warje, Pune-411058, Maharashtra, India |
|
This form is for |
Creation
of charge |
|
Type of charge |
|
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Particular of
charge holder |
State Bank of |
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Nature of
instrument creating charge |
Hypothecation
agreement to crate a charge on the Motor Vehicle Honda Accord Make |
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Date of
instrument Creating the charge |
25.05.2009 |
|
Amount secured by
the charge |
Rs.2.400 Millions
|
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As per greed
terms. Terms of
Repayments Repayments is to
be in 60 installments each installments of Rs.0.54 Million starting form May 2009
and ending on April 2014 Margin As per terms
agreed. Extent and
operation of the charge The State Bank of
India Erandvane Branch will have single and exclusive charge in the Motor
Vehicle Honda Accord 2.4 MT SALLON CHASIS NO. MAKCP252C9N001930 NO.K24Z20004016
REGISTERD UNDER MH-12FL100 till the repayment of total advance extended for
the Vehicle. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
The State Bank of
India Erandvane Branch will have single and exclusive charge in the Motor
Vehicle Honda Accord 2.4 MT SALLON CHASIS NO. MAKCP252C9N001930
NO.K24Z20004016 REGISTERD UNDER MH-12F |
Fixed Assets:
- Office Premises at Warje
- Computer and Printer
- Furniture and Fixtures
- Plant and Machinery
- Office Equipments
- Factory shed under Construction
- Industrial shed under construction
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.48.68 |
|
|
1 |
Rs.76.52 |
|
Euro |
1 |
Rs.63.57 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
30 |
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.