MIRA
INFORM REPORT
|
Report Date : |
06.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
MOTIBA SILICONE PRIVATE LIMITED |
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Registered
Office : |
Dreams 3, Flat
No.1202/3/A Wing, L.B.S. Marg, Bhandup (West), Mumbai – 400 078, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
22.10.2008 |
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Com. Reg. No.: |
11-187720 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100
million |
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CIN No.: [Company Identification
No.] |
U74999MH2008PTC187720 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM35508E |
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PAN No.: [Permanent Account No.] |
AAFCM7786F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Trader and Exporter of Rubber Products (Silicon,
Synthetics Rubber) etc. |
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No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
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 600 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a small company and establishing itself gradually. Its
scale of activities are finite. It is having moderate track. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow. The company can be considered for small business dealings with some
caution. |
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 (30.09.2011) |
Current Rating (31.12.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Ms. Samidha |
|
Designation : |
Accountant |
|
Contact No.: |
91-22-25950849 |
|
Date : |
05.07.2012 |
LOCATIONS
|
Registered Office : |
Dreams 3, Flat
No.1202/3/A Wing, L.B.S. Marg, Bhandup (West), Mumbai – 400 078, |
|
Tel. No.: |
Not Available |
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Mobile No.: |
91-9892943969 (Mr. Ashwin Pandya) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Corporate Office : |
10, Panna House, 1st Floor,
Devidayal Compound, Opposite Ishwar Nagar, L.B.S. Marg, Bhandup (West),
Mumbai – 400 078, Maharashtra, India |
|
Location : |
Rented |
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|
|
|
Factory : |
Prerna Complex, Plot F-1, Unit No.14, |
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Tel. No.: |
91-22-25950849/ 25953492/ 93/
25953989 |
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Fax No.: |
91-22-25953989 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Ashwin Mangaldas Pandya |
|
Designation : |
Managing Director |
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Address : |
Dreams 3, Flat No.1202/3/A Wing, L.B.S. Marg, Bhandup (West), Mumbai –
400 078, |
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Date of Birth/Age : |
21.11.1961 |
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Date of Appointment : |
22.10.2008 |
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DIN No.: |
02270660 |
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Name : |
Mr. Ankit Ashwin Pandya |
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Designation : |
Director |
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Address : |
Dreams 3, Flat No.1202/3/A Wing, L.B.S. Marg, Bhandup (West), Mumbai –
400 078, |
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Date of Birth/Age : |
03.07.1990 |
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Date of Appointment : |
22.10.2008 |
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DIN No.: |
02269785 |
KEY EXECUTIVES
|
Name : |
Ms. Samidha |
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Designation : |
Accountant |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Ashwin Pandya |
|
6000 |
|
Ankit Pandya |
|
4000 |
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Total |
|
10000 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
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|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Trader and Exporter of Rubber Products (Silicon,
Synthetics Rubber) etc. |
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|
|
|
Products : |
v
Silicone Products v
Baby and Infant
Products v
v
Silicone Wrist Bands |
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Brand Names : |
SILTECH |
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Exports : |
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Products : |
v
HTV Silicon Rubber |
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Countries : |
v
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Imports : |
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Products : |
v
Raw Materials |
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Countries : |
v
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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 : |
End Users |
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No. of Employees : |
25 (Approximately) |
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Bankers : |
v
Axis Bank Limited, Bhandup v
Kotak Mahindra Bank, Bhandup |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Naushad and Company Chartered Accountants |
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Address : |
1202-A, |
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Tel. No.: |
91-22-26790556 |
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Income-tax
PAN of auditor or auditor's firm : |
AABJP9492K |
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Associates/Subsidiaries : |
Mangal Polysil Address: Dreams 3, Flat No.1202/3/A Wing, L.B.S. Marg, Bhandup (West),
Mumbai – 400 078, Line of Business: Manufacturer, Trader and Exporter of Rubber Products (Silicon, Synthetics Rubber) etc. |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
million |
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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 |
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|
|
|
|
1] Share Capital |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.055 |
0.034 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(0.084) |
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|
NETWORTH |
0.155 |
0.134 |
0.016 |
|
|
LOAN FUNDS |
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|
|
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|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
1.000 |
0.610 |
0.807 |
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TOTAL BORROWING |
1.000 |
0.610 |
0.807 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
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TOTAL |
1.155 |
0.744 |
0.823 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
7.511 |
0.944 |
0.428 |
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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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DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
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|
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|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
6.170
|
1.752 |
0.151 |
|
|
Sundry Debtors |
0.055
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
0.481
|
0.470 |
0.020 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.591
|
0.383 |
0.482 |
|
Total
Current Assets |
7.297
|
2.605 |
0.653 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
13.115
|
2.336 |
0.220 |
|
|
Other Current Liabilities |
0.562
|
0.478 |
0.073 |
|
|
Provisions |
0.004
|
0.022 |
0.000 |
|
Total
Current Liabilities |
13.681
|
2.836 |
0.293 |
|
|
Net Current Assets |
(6.384)
|
(0.231) |
0.360 |
|
|
|
|
|
|
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|
MISCELLANEOUS EXPENSES |
0.028 |
0.031 |
0.035 |
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|
|
|
|
|
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TOTAL |
1.155 |
0.744 |
0.823 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
|
|
|
Income |
6.249 |
4.089 |
0.338 |
|
|
|
Other Income |
|
0.000 |
0.000 |
|
|
|
TOTAL |
6.249 |
4.089 |
0.338 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
5.894 |
3.039 |
0.207 |
|
|
|
Payment to & Provision for Employees |
|
0.067 |
0.011 |
|
|
|
Operating, Financial & Other Expenses |
|
0.797 |
0.198 |
|
|
|
TOTAL |
5.894 |
3.903 |
0.416 |
|
|
|
|
|
|
|
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|
PROFIT/ (LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.355 |
0.186 |
(0.078) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.330 |
0.046 |
0.006 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
0.025 |
0.140 |
(0.084) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.004 |
0.022 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
0.021 |
0.118 |
(0.084) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.034 |
(0.084) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
0.055 |
0.034 |
(0.084) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
2.08 |
11.80 |
(8.36) |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
7.000 |
|
|
|
|
|
Expected Sales (2012-2013): Rs.8.000 millions
The above information has been parted by Ms. Samidha (Accountant).
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.34
|
2.89 |
(24.85) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
3.42 |
(24.85) |
|
|
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|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.17
|
3.94 |
(7.77) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
1.04 |
(5.25) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
94.72
|
25.72 |
68.75 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.53
|
0.92 |
2.23 |
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 |
|
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 |
Yes |
|
15) Capital in
the business |
Yes |
|
16) Details of sister
concerns |
Yes |
|
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 |
FIXED ASSETS:
v
Electronics Equipments
v
Plant and Machinery
v
Dies and Tools
v
Air Conditioner
v
Furniture and Fixture
v
Laptop
v
Ownership Factory Gala
v
Weighing Machine
WEBSITE DETAILS:
PROFILE:
Established at Mumbai,
Under the guidance of their mentor Mr. Ashwin Pandya,
they have been successfully handling the emerging product demands of their
customers. Further, the strong service support provided by their competent team
also allows them to deliver these in specifications and finish options as
demanded by the customers. Their collective efforts have also helped them to
substantially improve quality of Medical treatment and Critical health care
sector through import substitution of costly equipment.
Today, their consistent efforts made towards achieving complete customer
satisfaction through delivery of superior quality products at competitive
pricing and on time delivery has led them to emerge as a leader in the global
market. Further, their modern manufacturing unit is the main asset of their
company where they work with missionary zeal to meet diverse needs of their
global clients. In addition to this, their network of exclusive stock points as
well as sales outlets across the nation also enables them to offer fast as well
as prompt services to their clients.
Subject
has carved a global niche for itself as a well known manufacturer and exporter of
world class quality Silicone Rubber, Silicone Compounds and Products. Their
range for Silicone Rubber include grades for General Purpose, High Transparent, Conductive, High
Temperature, High heat stability, and also have capability to develop any type
of Special Grade needed. Their Silicone Rubber are sold under the brand name of
SILTECH in inland and overseas market.
They produce all types of Silicone Rubber Compounds in any colour or
types needed as per customers’ specifications. Their Silicone compounds are
sold under brand name SILCOMP all around the world.
They have high standard production line for Silicone Products like Baby
Nipple, Bakeware Product, Tube, Sheets, Chord, Profiles, Sleeves,Bakeware
Products, Conductive Rubber Keypads and Pads, and other high grade rubber
items.
The company has a well established infrastructure with
latest manufacturing facilities at each production stage. Their manpower
comprises of highly talented professionals who put in their heart and soul to
deliver the best for the company's progress. In-house quality examination
center and state of the art R&D wing are the two pillars on which the onus
of quality maintenance, formulations and productions rest. They market their
range at competitive prices, assuring prompt delivery of goods for total
customer satisfaction.
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.55.02 |
|
|
1 |
Rs.85.93 |
|
Euro |
1 |
Rs.68.97 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
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.