1. Summary Information
|
|
|
Country |
|
|
Company Name |
ANGEL PIPES AND
TUBES PRIVATE LIMITED |
Principal Name 1 |
Mukesh Parasmal Mehta |
|
Status |
Moderate |
Principal Name 2 |
pravin Bhopalchand Mehta |
|
|
|
Registration # |
11-163777 |
|
Street Address |
110/112, 1st
Floor, 3rd Kumbhaewada, Mumbai – 400004, Maharashtra |
||
|
Established Date |
25.07.1995 |
SIC Code |
-- |
|
Telephone# |
91-22-67437601/09 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22-23862103 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Stainless Steel Tubes |
|
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.7,225,500/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or
relatives of Directors: 100.00% |
Banking |
Bank
of Baroda, |
|
Public Limited Corp. |
NO |
Business Period |
17 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
B (26) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
127,698,000 |
Current Liabilities |
63,238,000 |
|
Inventories |
77,048,000 |
Long-term Liabilities |
120,377,000 |
|
Fixed Assets |
51,677,000 |
Other Liabilities |
35,051,000 |
|
Deferred Assets |
41,000 |
Total Liabilities |
218,666,000 |
|
Invest& other Assets |
5,304,000 |
Retained Earnings |
67,500,000 |
|
|
|
Net Worth |
43,102,000 |
|
Total Assets |
261,768,000 |
Total Liab. & Equity |
261,768,000 |
|
Total Assets (Previous Year) |
267,980,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
405,000 |
Net Profit |
6,000 |
|
Sales(Previous yr) |
284,000 |
Net Profit(Prev.yr) |
7,000 |
MIRA
INFORM REPORT
|
Report Date : |
24.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
ANGEL PIPES AND TUBES PRIVATE LIMITED (w.e.f.25.07.1995) |
|
|
|
|
Formerly Known
As : |
MANDARIKA PROTIENS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
110/112, 1st Floor, 3rd Kumbhaewada, Mumbai – 400004,
Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
25.07.1995 |
|
|
|
|
Com. Reg. No.: |
11-163777 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.7.226 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U15142MH1995PTC163777 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Stainless Steel Tubes |
|
|
|
|
No. of Employees
: |
Not Available |
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 |
|
Maximum Credit Limit : |
USD 170000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. These
appears huge accumulate losses recorded by the company. However, trade relations
are reported to be fair. Business is active. Payments are reported to be
slow. The company can be considered for business dealing 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office / Corporate Office : |
110/112, 1st Floor, 3rd Kumbhaewada, Mumbai –
400004, Maharashtra, India |
|
Tel. No.: |
91-22-67437601/09 |
|
Fax No.: |
91-22-23862103 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
F-112 (A), 113, G 95/96, RIICO Industrial Area, Sanchore – 343041,
Rajasthan, India |
|
Tel. No.: |
91-2979-222355 |
|
Fax No.: |
91-2979-223300 |
|
E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Mukesh Parasmal Mehta |
|
Designation : |
Director |
|
Address : |
100/102 Jyoti Prakash, Building, 4th Floor, |
|
Date of Birth/Age : |
18.03.1976 |
|
Date of Appointment : |
20.01.2006 |
|
DIN No.: |
01533316 |
|
|
|
|
Name : |
Mr. pravin Bhopalchand
Mehta |
|
Designation : |
Director |
|
Address : |
Shanti Nagar, Sanchore, Jalore – 343041, Rajasthan, India |
|
Date of Birth/Age : |
13.12.1979 |
|
Date of Appointment : |
30.09.2002 |
|
DIN No.: |
01900162 |
|
|
|
|
Name : |
Mrs. Shantiben Mehta |
|
Designation : |
Director |
|
Address : |
Shanti Nagar, Sanchore, Jalore – 343041, Rajasthan, India |
|
Date of Birth/Age : |
08.06.1958 |
|
Date of Appointment : |
20.01.2006 |
|
DIN No.: |
01900244 |
|
|
|
|
Name : |
Mrs. Mita Pravin Mehta |
|
Designation : |
Director |
|
Address : |
6 Jaikuwar Bhuvan 4th Floor, Khetwadi, Mumbai – 400 004, |
|
Date of Birth/Age : |
01.11.1980 |
|
Date of Appointment : |
20.01.2006 |
|
DIN No.: |
01900648 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Bhopalchand Mehta |
|
18518 |
|
Bhopalchand Mehta HUF (Capital) |
|
22990 |
|
Dadmmiben Mehta (Capital) |
|
4580 |
|
Mita Mehta (Capital) |
|
4000 |
|
Mukesh Mehta (Capital) |
|
5650 |
|
Parasmal Mehta HUF (Capital) |
|
2000 |
|
Pravin Mehta (Capital) |
|
300 |
|
Rekha Mehta (Capital) |
|
5500 |
|
Shantaben Mehta (Capital) |
|
8717 |
|
|
|
|
|
Total |
|
72255 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Stainless Steel Tubes |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
Bankers : |
· Bank of Baroda, Sanchar Branch, District Jalore, Jalore – 343 041, Rajasthan, India · Kotak Mahindra Bank |
||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
Facilities : |
(Rs. in Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Nishant S Mehta and Company Chartered Accountants |
|
Address : |
31, Desai Kutir, 3rd Floor, 7th Khetwadi, Mumbai
– 400004, Maharashtra, India |
|
PAN.: |
AFVPM4974R |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs.100/- each |
Rs.25.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
72255 |
Equity Shares |
Rs.100/-
each |
Rs.7.226
Millions |
|
|
|
|
|
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 |
7.226 |
7.226 |
7.241 |
|
|
2] Share Application Money |
0.016 |
0.016 |
0.000 |
|
|
3] Reserves & Surplus |
67.500 |
67.500 |
67.500 |
|
|
4] (Accumulated Losses) |
(31.640) |
(24.673) |
(17.472) |
|
|
NETWORTH |
43.102 |
50.069 |
57.269 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
113.559 |
121.380 |
97.980 |
|
|
2] Unsecured Loans |
6.818 |
5.917 |
13.679 |
|
|
TOTAL BORROWING |
120.377 |
127.297 |
111.659 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.589 |
1.260 |
|
|
|
|
|
|
|
|
TOTAL |
163.479 |
177.955 |
170.188 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
51.677 |
54.914 |
51.266 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.197 |
1.176 |
1.141 |
|
|
DEFERREX TAX ASSETS |
0.041 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
77.048
|
101.112 |
60.926 |
|
|
Sundry Debtors |
105.534
|
87.111 |
84.226 |
|
|
Cash & Bank Balances |
0.000
|
1.849 |
2.367 |
|
|
Other Current Assets |
0.245
|
0.320 |
0.311 |
|
|
Loans & Advances |
21.919
|
11.667 |
5.732 |
|
Total
Current Assets |
204.746
|
202.059 |
153.562 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
63.238
|
68.136 |
43.108 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
35.051
|
21.889 |
0.000 |
|
Total
Current Liabilities |
98.289
|
90.025 |
43.108 |
|
|
Net Current Assets |
106.457
|
112.034 |
110.454 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
4.107 |
9.831 |
7.327 |
|
|
|
|
|
|
|
|
TOTAL |
163.479 |
177.955 |
170.188 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
|
0.405 |
0.284 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
0.412 |
0.292 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
|
(0.007) |
(0.008) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
(0.001) |
(0.001) |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS) AFTER TAX |
|
(0.006) |
(0.007) |
|
|
|
|
|
|
|
|
|
|
Earnings/(Loss)
Per Share (Rs.) |
|
|
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.48
|
2.46 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.00
|
0.00 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.00 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.07
|
4.34 |
2.70 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.08
|
2.24 |
3.56 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact
person |
No |
|
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 |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
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 |
|
31] |
PAN of Proprietor/Partner/Director,
if available |
No |
|
32] |
Passport No of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
Note:
The Registered Office of the company has been shifted from F/112A,
G95-96, Riico Industrial Area Sanchore, jalore,
Rajasthan shifted to the present address w.e.f 12.04.2006.
OPERATIONAL PERFORMANCE
The company is in the business of manufacturing
of ferrous and non ferrous metals in the current year. The company has incurred
a loss of Rs.6.967 Millions. This losses is mainly due to deprecation loss and
interest on bank loans.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10117493 |
|
Corporate
identity number of the company |
U15142MH1995PTC163777 |
|
Name of the
company |
ANGEL PIPES AND
TUBES PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
110/112, 1st Floor, 3rd Kumbharwada, Mumbai –
400 004, Maharashtra, India |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
Bank of Email: jodhpu@bankofbaroda.com |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum of
Entry for Equitable Mortgage of company's property,dated: 21/07/2008. |
|
Date of
instrument Creating the charge |
21.07.2008 |
|
Amount secured by
the charge |
Rs.34.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest No modification.
Will be same as set out at the time of creation of original charge. Terms of
Repayment No modification.
Will be same as set out at the time of creation of original charge. Margin No modification.
Will be same as set out at the time of creation of original charge. Extent and
Operation of the charge In addition to
the properties already charged, the existing Term Loan shall also be secured
by Equitable Mortgage of Company's Property situated at Godown No.2, Ground
Floor, Maa Padmawati Complex, Gala No. N/2, Village Val, Dapoda Road,
Bhiwandi, (Maharastra). |
|
Short particulars
of the property charged |
Godown No.2,
Ground Floor, Maa Padmawati Complex, Gala No. N/2, Village Val, Dapoda Road,
Bhiwandi, (Maharastra). |
|
Particulars of
the present modification |
Property of the
company situated at Godown No.2,Ground Floor, Maa Padmawati Complex, Gala No.
N/2, Village Val, Dapoda Road, Bhiwandi, (MAHARASTRA) has also been charged,
in addition to existing properties already charged, to secure the existing
Term Loan. |
fixed assets:-
· Leasehold land
·
· Plant and Machinery
· Motor Cycle
· Computer
· Fax Machine
· D G Set
· Leasehold land
· Fax machine
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 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.55.76 |
|
|
1 |
Rs.86.79 |
|
Euro |
1 |
Rs.67.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
KVT |
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 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
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.