MIRA
INFORM REPORT
|
Report Date : |
04.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
ARCRAFT PLASMA EQUIPMENTS ( |
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|
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Registered Office
: |
124, Diamond Industrial Estate, Ketki Pada, Near Check Naka, Dahisar
(East), Mumbai 400068, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
01.10.1992 |
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Com. Reg. No.: |
068866 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 million |
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CIN No.: [Company Identification
No.] |
U27100MH1992PTC068866 |
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|
Legal Form : |
Private Limited Liability Company
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Line of Business
: |
Manufacturer of Powder Plasma Welding, Plasma Cutting
Machines, Plasma Welding Machines, Welding Automation, CNC Profile Cutting
Machines, Welding Inverters, Plasma Cutting Torches, etc. |
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|
No. of Employees
: |
20 Approximately |
RATING & COMMENTS
|
MIRAs Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 9056 |
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|
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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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 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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Hiren |
|
Designation : |
Account Manager |
|
Contact No.: |
91-22-28965890 |
|
Date : |
21.05.2012 |
LOCATIONS
|
Registered Office /Factory : |
124, Diamond Industrial Estate, Ketki Pada, Near Check Naka, Dahisar
(East), Mumbai 400068, Maharashtra, India |
|
Tel. No.: |
91-22-28965890 |
|
Fax No.: |
91-22-28966418 |
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E-Mail : |
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|
Location : |
Owned |
DIRECTORS
|
Name : |
Mr. Marudkar Prasad |
|
Designation : |
Director |
|
Address : |
B13 Uma Sadan, 10th Road, Khar (West), Mumbai 400052,
Maharashtra, India |
|
Date of Birth/Age : |
22.02.1966 |
|
Date of Appointment : |
01.10.1992 |
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|
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|
Name : |
Mr. Rodrigues A James |
|
Designation : |
Director |
|
Address : |
Sector 9, C 59/109, Santi Nagar, Mira Road, Thane 401107, Maharashtra,
India |
|
Date of Birth/Age : |
12.06.1969 |
|
Date of Appointment : |
01.10.1992 |
KEY EXECUTIVES
|
Name : |
Mr. Hiren |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.09.2010
|
Names of Shareholders |
No. of Shares |
|
Marudkar Prasad |
500 |
|
Rodrigues A James |
500 |
|
Sinha R Dinesh |
1 |
|
Marudkar P Pooja |
1 |
|
Jacintha Labo |
1 |
|
Celine Fernandes |
1 |
|
Cecilia Crasta |
1 |
|
Napa J Ravi |
1 |
|
Total |
1006 |
AS ON 25.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
100.00 |
|
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Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Powder Plasma Welding, Plasma Cutting Machines,
Plasma Welding Machines, Welding Automation, CNC Profile Cutting Machines,
Welding Inverters, Plasma Cutting Torches, etc. |
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Products : |
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Exports : |
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Countries : |
European Countries, Gulf Countries |
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Terms : |
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Selling : |
L/C, Cash, Credit (30-60 Days) |
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Purchasing : |
Cash, Credit (30-60 Days) |
GENERAL INFORMATION
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Customers : |
·
Wholesaler ·
Retailers ·
End Users |
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No. of Employees : |
20 Approximately |
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Bankers : |
·
Citizen Credit Co Operative Bank Limited, Mira Road,
Geeta Arcade, Station Road, Opposite Holy Cross School, Mira Road (East),
Thane 401107, Maharashtra, India ·
ICICI Bank |
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Facilities : |
Rs. In Millions
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Dilip G Gandhi Chartered Accountant |
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Address : |
26, Jay Gayatri, 3rd Floor, Vallabh Baug Lane, Ghatkopar (East),
Mumbai 400077, Maharashtra, India |
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Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 25.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5000 |
Equity Shares |
Rs. 10 each |
Rs. 0.500 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1006 |
Equity Shares |
Rs. 10 each |
Rs.0.100 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
|
31.03.2012 |
31.03.2011 |
|
Sales Turnover (Approximately) |
|
30.000 |
30.000 |
Expected Sales (2012-2013) : Rs.35.000 millions
The above information has been parted by Mr. Hiren
Note : Sole Proprietory and Partnership concerns are exempted
from filing their financials with the Government Authorities or Registry
Records.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
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|
|
|
|
1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2.164 |
1.469 |
1.095 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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|
NETWORTH |
2.264 |
1.569 |
1.195 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.360 |
0.650 |
0.473 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
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TOTAL BORROWING |
0.360 |
0.650 |
0.473 |
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DEFERRED TAX LIABILITIES |
0.028 |
0.022 |
0.002 |
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TOTAL |
2.652 |
2.241 |
1.670 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.065 |
2.446 |
2.024 |
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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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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
6.552
|
6.162 |
1.636 |
|
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Sundry Debtors |
3.268
|
6.133 |
4.185 |
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|
Cash & Bank Balances |
2.276
|
2.139 |
0.810 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
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|
Loans & Advances |
5.068
|
3.685 |
2.090 |
|
Total
Current Assets |
17.164
|
18.119 |
8.721 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
13.495
|
13.586 |
6.173 |
|
|
Other Current Liabilities |
1.994
|
2.715 |
1.777 |
|
|
Provisions |
1.088
|
2.023 |
1.125 |
|
Total
Current Liabilities |
16.577
|
18.324 |
9.075 |
|
|
Net Current Assets |
0.587
|
(0.205) |
(0.354) |
|
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
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|
|
TOTAL |
2.652 |
2.241 |
1.670 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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|
SALES |
|
|
|
|
|
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|
Sales |
33.392 |
33.360 |
19.938 |
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
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|
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TOTAL (A) |
33.392 |
33.360 |
19.938 |
|
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|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
Selling and Distribution Expenses |
|
|
|
|
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|
Office Expenses |
31.880 |
31.986 |
19.202 |
|
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Administrative Expenses |
|
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Advertising Expenses |
|
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|
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TOTAL (B) |
31.880 |
31.986 |
19.202 |
|
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|
|
|
|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1.512 |
1.374 |
0.736 |
|
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|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
0.037 |
0.064 |
0.046 |
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.475 |
1.310 |
0.690 |
|
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|
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|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.431 |
0.521 |
0.416 |
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|
PROFIT BEFORE
TAX (E-F) (G) |
1.044 |
0.789 |
0.274 |
|
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|
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|
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|
Less |
TAX (H) |
0.329 |
0.264 |
0.094 |
|
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|
PROFIT AFTER TAX
(G-H) (I) |
0.715 |
0.525 |
0.180 |
|
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|
Earnings Per
Share (Rs.) |
1038.16 |
784.73 |
-- |
|
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.14
|
1.57 |
0.90 |
|
|
|
|
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
3.12
|
2.36 |
1.37 |
|
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.42
|
3.83 |
2.55 |
|
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|
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.46
|
0.50 |
0.22 |
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
7.49
|
12.10 |
7.99 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.03
|
0.98 |
0.96 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
Registered office of the company has been shifted from UMA Sadan B/13, 10th Road, Khar (West), Mumbai 400052, Maharashtra, India to the present address w.e.f. 01.08.2011
FIXED ASSETS
·
Premises
·
Furniture and Fixture
·
Plant and Machinery
·
Telephone
·
Computer
·
Fax Machines
·
Air Conditioner
·
Office Equipments
·
Vehicles
FORM 8
|
Corporate
identity number of the company |
U27100MH1992PTC068866 |
|
Name of the
company |
ARCRAFT PLASMA EQUIPMENTS (INDIA) PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
124, Diamond Industrial Estate, Ketki Pada, Near Check Naka, Dahisar
(East), Mumbai 400068, Maharashtra, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) |
|
Particular of
charge holder |
Citizen Credit Co Operative Bank Limited, Mira Road, Geeta Arcade,
Station Road, Opposite Holy Cross School, Mira Road (East), Thane 401107,
Maharashtra, India Email: glen.office@gmail.com
|
|
Nature of instrument
creating charge |
Hypothecation cum
loan agreement |
|
Date of
instrument Creating the charge |
06.10.2010 |
|
Amount secured by
the charge |
Rs. 4.000
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest Interest @ 11%
p.a.(Bank's PLR) payable monthly subject to change as per Bank's discretion Terms of repayment To repay
Overdraft of Rs.4.000 millions on demand, facility to be made available for a
period of 12 months subject to review thereafter. Margin Margin @ 40% of
book debts o/s less than 90 days and stocks @ 25% Extent and operation of the charge Repayment of
Overdraft of Rs.4.000 millions on demand, facility to be made available for a
period of 12 months subject to review thereafter. |
|
Short particulars
of the property charged (Including location of the property) |
All machineries
and various types of electrical items, raw materials, work in progress, and
finished goods of different types of welding and cutting machine All Book debts,
present and future, outstandings, moneys receivables, claims bills which are
and which will be due and owing to the borrower present and future. |
|
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) 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 |
No |
|
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 |
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.55.92 |
|
|
1 |
Rs.86.03 |
|
Euro |
1 |
Rs.69.13 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
PRL |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
|
45 |
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.