MIRA
INFORM REPORT
|
Report Date : |
05.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
MATA POLYMERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Ground Floor, Plot No.34, Ruparel House, Road No.2, Scheme No.6, Sion Chs
Limited, Sion (East), Mumbai – 400022, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of Incorporation : |
14.06.1995 |
|
|
|
|
Com. Reg. No.: |
11-089533 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 1.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24110MH1995PTC089533 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM14760E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM5652P |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Dealers of Chemicals for Textile Auxiliary and Construction. |
|
|
|
|
No. of Employees
: |
Not Available |
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 160000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to be
usually correct and as per commitments. The company can be considered normal business dealing 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.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
|
|
|
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Ground Floor, Plot No.34, Ruparel House, Road No.2, Scheme No.6, Sion
Chs Limited, Sion (East), Mumbai – 400022, |
|
Tel. No.: |
91-22-24019104 / 24018634 |
|
Fax No.: |
91-22-24018428 / 24019104 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on 31.03.2011
|
Name : |
Mr. Pravinchandra Mohanlal Sanghvi |
|
Designation : |
Director |
|
Address : |
D/103, Minal Apartment |
|
Date of Birth/Age : |
06.11.1927 |
|
Date of Appointment : |
16.06.1995 |
|
DIN No.: |
01559072 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U24110MH1993PTC074665 |
Silco Auxichem ( |
Director |
22/10/1993 |
22/10/1993 |
Active |
NO |
|
2 |
U24110MH1995PTC089533 |
Mata Polymers
Private Limited |
Director |
16/06/1995 |
16/06/1995 |
Active |
NO |
|
Name : |
Mrs. Priti Ashwin Sanghvi |
|
Designation : |
Whole-time Director |
|
Address : |
Ruparel House, 3rd Floor, Plot No.34, Road 2, Scheme 6,
Sion CHS Limited, Sion (East), Mumbai – 400 022, |
|
Date of Birth/Age : |
29.12.1953 |
|
Date of Appointment : |
16.06.1995 |
|
DIN No.: |
00220471 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U24110MH1993PTC074665 |
Silco Auxichem ( |
Whole-time
director |
22/10/1993 |
22/10/1993 |
Active |
NO |
|
2 |
U24110MH1995PTC089533 |
Mata Polymers
Private Limited |
Whole-time
director |
16/06/1995 |
16/06/1995 |
Active |
NO |
|
Name : |
Mr. Mitap Ashwin Sanghvi |
|
Designation : |
Whole-time Director |
|
Address : |
Ruparel House, 3rd Floor, Plot No.34, Road 2, Scheme 6,
Sion CHS Limited, Sion (East), Mumbai – 400 022, |
|
Date of Birth/Age : |
02.11.1980 |
|
Date of Appointment : |
09.11.1998 |
|
DIN No.: |
00221210 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U24110MH1995PTC089533 |
Mata Polymers
Private Limited |
Whole-time
director |
9/11/1998 |
9/11/1998 |
Active |
NO |
|
2 |
U24110MH1993PTC074665 |
Silco Auxichem ( |
Whole-time
director |
9/11/1998 |
9/11/1998 |
Active |
NO |
|
Name : |
Mr. Aswin Pravinchandra Sanghvi |
|
Designation : |
Managing Director |
|
Address : |
Ruparel House, 3rd Floor, Plot No.34, Road 2, Scheme 6,
Sion CHS Limited, Sion (East), Mumbai – 400 022, |
|
Date of Birth/Age : |
02.03.1952 |
|
Date of Appointment : |
06.11.2000 |
|
DIN No.: |
00221174 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U24110MH1993PTC074665 |
Silco Auxichem ( |
Managing
director |
22/10/1993 |
22/10/1993 |
Active |
NO |
|
2 |
U24110MH1995PTC089533 |
Mata Polymers
Private Limited |
Managing
director |
6/11/2000 |
6/11/2000 |
Active |
NO |
|
3 |
L15310MH1991PLC064563 |
Rishabh Digha
Steel And Allied Products Limited |
Director |
26/09/2005 |
26/09/2005 |
Active |
NO |
|
Name : |
Mr. Chirag Bhupatbhai Sanghvi |
|
Designation : |
Whole-time Director |
|
Address : |
A-1/60, Yogi palace, Yogi Nagar, |
|
Date of Birth/Age : |
07.03.1981 |
|
Date of Appointment : |
01.04.2004 |
|
DIN No.: |
00220561 |
|
|
|
|
Name : |
Mrs. Sweta Mitap Sanghvi |
|
Designation : |
Whole-time Director |
|
Address : |
Ruparel House, 3rd Floor, Plot No.34, Road 2, Scheme 6,
Sion CHS Limited, Sion (East), Mumbai – 400 022, |
|
Date of Birth/Age : |
24.11.1982 |
|
Date of Appointment : |
01.05.2009 |
|
DIN No.: |
02628777 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Aswin Pravinchandra Sanghvi |
|
20000 |
|
Mitap Ashwin Sanghvi |
|
10000 |
|
Aswin Pravinchandra Sanghvi karta of Aswin Pravinchandra Sanghvi HUF |
|
30000 |
|
Priti Ashwin Sanghvi |
|
20000 |
|
Mitap Ashwin Sanghvi karta of Mitap Ashwin Sanghvi HUF |
|
20000 |
|
Total |
|
100000 |
As on 30.09.2011
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealers of Chemicals for Textile Auxiliary and Construction. |
|
|
|
|
Products : |
|
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|
|
|
|
Bankers : |
Not Available |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
N I Parekh and Company Chartered Accountants |
|
Address : |
E- Mangalam Ground Floor, 155 Jain Society, Sion (West), Mumbai –
400022, |
|
Tel. No.: |
91-22-24076200 / 24090643 |
|
Fax No.: |
91-22-24042402 |
|
PAN NO.: |
AAAPP9292M |
|
|
|
|
Related Parties : |
|
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
|
|
|
|
|
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 |
1.000 |
1.000 |
1.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
39.451 |
33.201 |
27.477 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
40.451 |
34.201 |
28.477 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
40.451 |
34.201 |
28.477 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.934 |
2.220 |
2.589 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.025 |
0.017 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
16.897
|
13.994 |
10.353 |
|
|
Sundry Debtors |
25.975
|
21.419 |
14.662 |
|
|
Cash & Bank Balances |
20.986
|
21.478 |
14.370 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
12.219
|
8.246 |
10.964 |
|
Total
Current Assets |
76.077
|
65.137 |
50.349 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
27.625
|
25.770 |
14.678 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
9.960
|
7.403 |
9.783 |
|
Total
Current Liabilities |
37.585
|
33.173 |
24.461 |
|
|
Net Current Assets |
38.492
|
31.964 |
25.888 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
40.451 |
34.201 |
28.477 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
141.458 |
103.713 |
92.937 |
|
|
|
Other Income |
2.923 |
2.350 |
0.792 |
|
|
|
TOTAL (A) |
144.381 |
106.063 |
93.729 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
129.276 |
92.114 |
85.473 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
15.105 |
13.949 |
8.256 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.000 |
0.000 |
0.002 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
15.105 |
13.949 |
8.254 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.311 |
0.389 |
0.389 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
14.794 |
13.560 |
7.865 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
5.057 |
4.921 |
2.513 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
9.737 |
8.639 |
5.352 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
20.472 |
16.248 |
15.236 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Interim Dividend |
0.000 |
0.000 |
1.500 |
|
|
|
Proposed Final Dividend |
3.000 |
2.500 |
0.500 |
|
|
|
Dividend Tax |
0.487 |
0.415 |
0.340 |
|
|
|
Transfer to General Reserve |
1.500 |
1.500 |
2.000 |
|
|
BALANCE CARRIED
TO THE B/S |
25.222 |
20.472 |
16.248 |
|
|
|
|
|
|
|
|
|
|
TOTAL IMPORTS |
20.762 |
13.162 |
20.087 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
97.37 |
86.40 |
53.52 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
6.74
|
8.15 |
5.71 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
10.46
|
13.07 |
8.46 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
18.96
|
20.13 |
14.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.37
|
0.40 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.93
|
0.97 |
0.86 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.02
|
1.96 |
2.06 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF
PURCHASE:
|
Units |
Purchase |
|||||
|
Qty. |
Value (Rs. In Milions) |
|||||
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
Kgs. |
469065 |
332862 |
278603.32 |
124.067 |
89.102 |
70.029 |
|
Ltrs. |
1850 |
10115 |
840.00 |
0.216 |
0.863 |
0.057 |
|
Check list by info
Agents |
Available in Report (Yes/ No) |
|
Year of Establishment |
Yes |
|
Locality of the Firm |
Yes |
|
Constitution of the Firm |
Yes |
|
Premises details |
No |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoter’s Background |
Yes |
|
No. of Employees |
No |
|
Name of Person Contacted |
No |
|
Designation of Contact person |
No |
|
Turnover of Firm for last three years |
Yes |
|
Profitability for last three years |
Yes |
|
Reasons for variation <> 20% |
--------- |
|
Estimation for coming financial year |
No |
|
Capital in the business |
Yes |
|
Details of sister concerns |
No |
|
Major Suppliers |
No |
|
Major Customers |
No |
|
Payments Terms |
No |
|
Export/ Imports Details (If applicable) |
No |
|
Market Information |
----------- |
|
Litigations that the firm/ Promoters Involved in |
--------- |
|
Banking details |
Yes |
|
Banking Facility Details |
No |
|
Conduct of the Banking Account |
-------- |
|
Buyer visit details |
-------- |
|
Financials, if provided |
Yes |
|
Incorporation details is applicable |
Yes |
|
Last Accounts filed at ROC |
Yes |
|
Major Shareholders, if available |
Yes |
NOTE:
The registered office has been shifted from “S B Bhatt Wadi, 41 A,
Ground Floor,
FIXED ASSETS:
- Air Conditioner
- Office Equipments
- Furniture and Fixtures
- Computer
- Mobile Phone
- Pump
- Fax Machine
- Vehicles
- Office Premises
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. 54.55 |
|
|
1 |
Rs. 85.48 |
|
Euro |
1 |
Rs. 68.70 |
INFORMATION DETAILS
|
Report Prepared
by : |
ACH |
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 |
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 |
|
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.