MIRA
INFORM REPORT
|
Report Date : |
12.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
ATUL MACHINE TOOLS |
|
|
|
|
Registered
Office : |
Metoda GIDC, Plot No. P 103, opposite
Makrana Marble, |
|
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|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Year of
Establishment : |
1989 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.0.899 Million |
|
|
|
|
IEC No.: |
2404007513 |
|
|
|
|
PAN No.: [Permanent Account No.] |
ACPPM0937M |
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|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business
: |
Manufacturer of S P M Machines, Cylindrical and Surface Grinding
Machines. |
|
|
|
|
No. of Employees
: |
14 [Approximately] (Office 2 and Factory 12) |
RATING & COMMENTS
|
MIRAs 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 8000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established proprietory concern having satisfactory
track records. Trade relations are reported as fair. Business is active. Payments
are reported to be usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 |
INFORMATION PARTED BY
|
Name : |
Mr. Atulbhai K. Patel |
|
Designation : |
Proprietor |
|
Contact No.: |
91-9227602034 |
|
Date : |
14.02.2012 |
LOCATIONS
|
Registered Office/ Factory : |
Metoda GIDC, Plot No. P 103, opposite
Makrana Marble, |
|
Tel. No.: |
91-2827-287607 |
|
Mobile No.: |
91-9227602034 (Mr. Atulbhai K. Patel) |
|
Fax No.: |
91-2827-287607 |
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E-Mail : |
|
|
Website : |
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|
Area : |
4000 Sq. fts |
|
Location : |
Owned |
|
|
|
|
Corporate Office : |
Gondal Road, Opposite Gokul Dham, |
|
Tel. No.: |
91-281-6542034 / 2360227 |
|
Fax No.: |
91-281-2360227 |
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E-Mail : |
|
|
Area : |
5000 Sq. fts |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. Atulbhai K Patel |
|
Designation : |
Proprietor |
|
Address : |
101, Shitvan Apartment, A New Collage Wadi, Jaggnath Chowk, B/H.
Punjab Honda, Kalawad Road, Rajkot 360005, Gujarat, India |
|
Date of Birth/Age : |
04.10.1974 (37 Years) |
|
Qualification : |
ITI Machinist |
|
Experience : |
15 years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of S P M Machines, Cylindrical and Surface Grinding
Machines. |
|
|
|
|
Products : |
· Light Duty Precision Lathe Machine · Medium Duty Precision Lathe Machine · Heavy Duty Precision Lathe Machine · Hydraulic Surface Grinding Machines · Surface Grinding Machines ·
Cylindrical Grinding Machines |
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|
|
|
Exports : |
|
|
Products : |
S P M Machines, Cylindrical and Surface Grinding Machines |
|
Countries : |
·
African Countries |
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|
|
Terms : |
|
|
Selling : |
Cash and Credit (30 days) |
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|
|
|
Purchasing : |
Cash and Credit (30 days) |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Installed Capacity |
Actual Production |
|
|
|
|
|
Grinder Machine 0 |
70 |
63 |
GENERAL INFORMATION
|
Suppliers : |
·
Parekh Associates ·
Servotec Carting |
|
|
|
|
Customers : |
Wholesaler, Retailers, End Users and Others [Dealer] ·
S Team Moto ·
Anand Auto |
|
|
|
|
No. of Employees : |
14 [Approximately] (Office 2 and Factory 12) |
|
|
|
|
Bankers : |
·
HDFC
Bank, Kalawad Branch, ·
Shri Dharti Co-operative Bank Limited, Mavdi
Plot, |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Tejas Mehta and Company Chartered Accountants |
|
Address : |
Ahmedabad, |
|
|
|
|
Name : |
Venus Bhupatbhai Gohel Chartered Accountants |
|
Address : |
Gopendra Kunj, Raval Nagar Main Road, 8 Saurashtra kalakendra,
Rajkot, Gujarat, India |
|
Mobile No.: |
91-9726395915 |
CAPITAL STRUCTURE
AS ON 31.03.2011
|
Capital Investment : |
|
|
Owned : |
Rs.0.899 Million |
|
Borrowed : |
-- |
|
Total : |
Rs.0.899 Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.899 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.000 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
0.899 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.372 |
|
|
2] Unsecured Loans |
|
|
0.000 |
|
|
TOTAL BORROWING |
|
|
0.372 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1.271 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
0.000 |
|
|
Capital work-in-progress |
|
|
1.175 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.679 |
|
|
Sundry Debtors |
|
|
0.417 |
|
|
Cash & Bank Balances |
|
|
1.211 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.013 |
|
Total
Current Assets |
|
|
2.320 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor and Other Current Liabilities |
|
|
2.043 |
|
|
Provisions |
|
|
0.181 |
|
Total
Current Liabilities |
|
|
2.224 |
|
|
Net Current Assets |
|
|
0.096 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
1.271 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
12.069 |
|
|
|
Other Income |
|
|
0.000 |
|
|
|
TOTAL (A) |
|
|
12.069 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
11.469 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
|
|
11.469 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
|
0.600 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
0.031 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
|
0.569 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
|
0.203 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
|
0.366 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
|
0.181 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
|
0.185 |
|
Expected Sales (2011-12): Rs.15.000 Millions.
The above information has been parted by Mr. Atulbhai K. Patel.
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2011 |
|
PAT / Total Income |
(%) |
|
|
1.53 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
|
3.03 |
|
|
|
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|
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
15.78 |
|
|
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Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.41 |
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Debt Equity Ratio (Total Liability/Networth) |
|
|
|
2.89 |
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|
|
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Current Ratio (Current Asset/Current Liability) |
|
|
|
1.04 |
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 |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoters background |
Yes |
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8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last one years |
Yes |
|
12) Profitability for last one years |
No |
|
13) Reasons for variation <> 20% |
----- |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
Yes |
|
18) Major customers |
Yes |
|
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 |
No |
|
25) Conduct of the banking account |
----- |
|
26) Buyer visit details |
----- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
No |
|
29) Last accounts filed at ROC |
No |
|
30) Major Shareholders, if available |
No |
TRADE REFERENCES:
· Aarti Machine Tool
Kasarwadi, Nashik Phata, Pune, Maharashtra,
India
Mr. Dilip Patel 91-20-27125147
· G. K. Enterprise
Sowdeswari Nagar, Nava India Road, Coimbatore,
India
Mr. P. P. Kumar 91-422-2568988
· Golden Machines Corporation
Ganesh Chandra Avenue, Kolkata, West Bengal,
India
Mr. Manoj Bhai 91-33-22372835
· Shital Machine Tools
I. B. Patel Road, Near Brijwashi, Goregaon
(East), Mumbai, Maharashtra, India
Mr. Mahendra Bhai 91-22-26853580
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 Intl
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 companys 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.55.36 |
|
|
1 |
Rs.85.94 |
|
Euro |
1 |
Rs.67.87 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
This score serves as a reference to assess SCs 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.