MIRA
INFORM REPORT
|
Report Date : |
04.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
VIKARSH STAMPINGS INDIA PRIVATE LIMITED |
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Registered
Office : |
F 1A, Nandlal Co Operative Housing Society, 418 Narayan Peth, Pune
411030, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
25.08.2003 |
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Com. Reg. No.: |
11-018260 |
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Capital
Investment / Paid-up Capital : |
Rs.120.000 Millions |
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CIN No.: [Company Identification
No.] |
U29230PN2003PTC018260 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Electrical Transformer Cores, Transformer
Laminations, Transformer Stampings and Transformer Toroidal Cores. |
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No. of Employees
: |
Information denied by management |
RATING & COMMENTS
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MIRAs Rating : |
Ba (48) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 250000 |
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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.
INFORMATION DENIED BY
|
Name : |
Mr. Laxmikant |
|
Designation : |
Finance Manager |
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Contact No.: |
91-9371011879 |
|
Date : |
02.06.2012 |
LOCATIONS
|
Registered Office : |
F 1A, Nandlal Co Operative Housing Society, 418 Narayan Peth, Pune
411030, Maharashtra, India |
|
Tel. No.: |
91-20-24452797/24468999 |
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Mobile No.: |
91-9371011879 (Mr. Laxmikant) |
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Fax No.: |
91-20-24471685 |
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E-Mail : |
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Website : |
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Factory: |
Gar No.269/7, A/P. Dhangarwadi, N. H. No. 4, Tal. Khandala, Dist.
Satara 412801, Maharashtra, India |
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Tel. No.: |
91-2169-245464 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Laxmikant Nathuram Trivedi |
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Designation : |
Whole time Director |
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Address : |
Flat No. 203, Sainath Socity, 524 Rasta Peth, Pune 411011,
Maharashtra, India |
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Date of Birth/Age : |
17.08.1975 |
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Date of Appointment : |
25.08.2003 |
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DIN No.: |
00217889 |
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Name : |
Mr. Sameer Sambhaji Shine |
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Designation : |
Whole time Director |
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Address : |
175, Kasba Peth, Pune 411011, Maharashtra, India |
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Date of Birth/Age : |
07.03.1975 |
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Date of Appointment : |
25.08.2003 |
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DIN No.: |
00431193 |
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Name : |
Mr. Milind Ramesh Wani |
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Designation : |
Whole time Director |
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Address : |
382, Shaniwar Peth, Pate Heights, Flat No. 67, Opp. Kanya Shala, Pune
411030, India |
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Date of Birth/Age : |
24.09.1973 |
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Date of Appointment : |
25.08.2003 |
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DIN No.: |
00431167 |
KEY EXECUTIVES
|
Name : |
Mr. Laxmikant |
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Designation : |
Finance Manager |
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Name : |
Mr. Neelkanth G. Limaye |
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Designation : |
Company Secretary |
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Address: |
F-2. Akshay Park Co operative Housing Society 46/2B/2, Erandwane,
Paud Road, Pune 411038, Maharashtra, India |
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Tel. No.: |
91-20-25456077/25447271 |
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E-Mail : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Milind Ramesh Wani |
|
147167 |
|
Sameer Sambhaji Shine |
|
147166 |
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Laxmikant Nathuram Trivedi |
|
162167 |
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Ramesh Shankar Wani |
|
19500 |
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Sambhaji Bapurao Shine |
|
19500 |
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Sheetal Laxmikant Trivedi |
|
4500 |
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Total |
|
500000 |
As on 31.03.2012
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Names of Allottees |
|
No. of Shares |
|
Laxmikant Nathuram Trivedi |
|
3330000 |
|
Sameer Sambhaji Shine |
|
3330000 |
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Milind Ramesh Wani |
|
3330000 |
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Sheetal Laxmikant Trivedi |
|
10000 |
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Total |
|
10000000 |
As on 17.03.2012
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Names of Allottees |
|
No. of Shares |
|
Laxmikant Nathuram Trivedi |
|
486501 |
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Sameer Sambhaji Shine |
|
441498 |
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Milind Ramesh Wani |
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441501 |
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Stanley Lawrence |
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13500 |
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Ramesh Shankar Wani |
|
58500 |
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Sambhaji Bapurao Shine |
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58500 |
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Total |
|
1500000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Electrical Transformer Cores, Transformer
Laminations, Transformer Stampings and Transformer Toroidal Cores. |
GENERAL INFORMATION
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No. of Employees : |
Information denied by management |
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Bankers : |
·
Dhanlaxmi Bank Limited, Dhanlaxmi Bank Building
Naickanal, Trichur 680001, Kerala, India ·
HDFC Bank Limited, HDFC Bank House Senapati Bapat
Marg, Lower Parel (West), Mumbai 400013, Maharashtra, India ·
Standard Chartered Bank, B 2, Cerelerum IT Park,
Kumar City, Vadgaon Sheri, Kalyani Nagar, Pune 411014, Maharashtra, India |
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Facilities : |
(Rs. in Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Vijay P. Mayabhate Chartered Accountant |
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Address : |
418, Narayan Peth, Nandalal Society, Pune 411030, Maharashtra, India
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Tel. No.: |
91-20-24451043/25446161 |
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E-Mail : |
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PAN.: |
ABNPM9487F |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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12000000 |
Equity Shares |
Rs.10/- each |
Rs.120.000 Millions |
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As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000
Millions |
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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 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
5.000 |
5.000 |
5.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
57.664 |
50.516 |
33.130 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
62.664 |
55.516 |
38.130 |
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LOAN FUNDS |
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1] Secured Loans |
86.516 |
81.751 |
22.664 |
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2] Unsecured Loans |
126.077 |
128.871 |
97.093 |
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TOTAL BORROWING |
212.593 |
210.622 |
119.757 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
275.257 |
266.138 |
157.887 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
111.362 |
102.250 |
62.077 |
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Capital work-in-progress |
0.000 |
0.000 |
0.00 |
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INVESTMENT |
0.250 |
0.250 |
0.250 |
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DEFERREX TAX ASSETS |
0.000 |
1.484 |
1.484 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
185.304
|
115.353 |
112.738 |
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Sundry Debtors |
202.148
|
193.169 |
121.244 |
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Cash & Bank Balances |
34.734
|
29.770 |
10.481 |
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Other Current Assets |
1.696
|
1.697 |
1.696 |
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Loans & Advances |
71.506
|
49.584 |
40.436 |
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Total
Current Assets |
495.388
|
389.573 |
286.595 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
302.561
|
209.028 |
176.158 |
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Other Current Liabilities |
5.457
|
4.435 |
3.045 |
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Provisions |
23.733
|
13.969 |
13.333 |
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Total
Current Liabilities |
331.751
|
227.432 |
192.536 |
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Net Current Assets |
163.637
|
162.141 |
94.059 |
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MISCELLANEOUS EXPENSES |
0.008 |
0.013 |
0.017 |
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TOTAL |
275.257 |
266.138 |
157.887 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
646.292 |
609.667 |
493.135 |
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Other Income |
5.826 |
5.454 |
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TOTAL |
652.118 |
615.121 |
493.135 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
627.222 |
590.846 |
473.738 |
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PROFIT BEFORE
TAX |
24.896 |
24.275 |
19.397 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
15.558 |
4.483 |
15.267 |
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TOTAL EARNINGS |
15.558 |
4.483 |
15.267 |
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Earnings Per
Share (Rs.) |
NA |
37 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
3.85
|
3.98 |
3.93 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
5.03
|
(6.23) |
6.77 |
|
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Return on Investment (ROI) (PBT/Networth) |
|
0.40
|
(0.44) |
0.51 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.29
|
4.10 |
5.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.49
|
1.71 |
1.49 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors Details:
Rs. In Millions
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
302.561
|
209.028 |
176.158 |
|
Total |
302.561
|
209.028 |
176.158 |
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
No |
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5) Type of Business |
Yes |
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6) Line of Business |
Yes |
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7) Promoters background |
Yes |
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8) No. of employees |
No |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
|
11) Turnover of firm for last three years |
Yes |
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12) Profitability for last three years |
Yes |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
No |
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15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
No |
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20) Export / Import details (if applicable) |
No |
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21) Market information |
-- |
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22) Litigations that the firm / promoter |
-- |
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23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
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29) Last accounts filed at ROC |
Yes |
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30) Major Shareholders, if available |
Yes |
Operations:
The compant has made sales turnover of Rs.646.292
Millions and has other receipts of Rs.5.826 Millions in the year and earned
profit (before tax) of the Rs.24.896 Millions
Note: Registered office f the company has been
shifted from Chintamani Warehouse Serial No 25/1 Tathawade, Mulshi, Pune 411033,
Maharashtra, India to the present address w.e.f 29.08.2007
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U29230PN2003PTC018260 |
|
Name of the company |
VIKARSH
STAMPINGS INDIA PRIVATE IMITED |
|
Address of the registered office or of the
principal place of business in |
F 1A, Nandlal Co
Operative Housing Society, 418 Narayan Peth, Pune 411030, Maharashtra,
India Email: vikarsh@vsnl.net |
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable
property |
|
Particular of charge holder |
Standard
Chartered Bank, B 2, Cerelerum IT Park, Kumar City, Vadgaon Sheri, Kalyani Nagar,
Pune 411014, Maharashtra, India Email: amitavijay1994@gmail.com |
|
Nature of instrument creating charge |
Memorandum of
Entry |
|
Date of instrument Creating the charge |
30.03.2012 |
|
Amount secured by the charge |
Rs.9.000
Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest Variable, Base Rate + 2.50%, Current Base Rate 9.75%, Present
Applicable Rate 12.25% Terms of Repayment Repayable In 84 Months Margin 40% of Market Value of Property Extent and Operation of the charge First And Exclusive Charge Others As Per Facility
Letter |
|
Short particulars of the property or
asset(s) charged (including complete address and location of the property) |
Office No. 2,
Stilt Floor, Uttekar Hights, CTS No. 572, Shaniwar Peth, Pune - 411030 |
Fixed Assets:
·
Land
·
Building
·
Internal Roads
·
Building Shirwal Phase 1
·
Building Shirwal Phase 2
·
Flat at Shirwal
·
Guest House at Vadgaon BK
·
Office at Narayanpeth
·
Office Furniture
Narayanpeth
·
Machinery
·
Dies Tools and Fixtures
·
Transformer
·
Electrical installation
Phase1
·
Electrical installation
Phase2
·
Control Panel
·
Eot Crane Shirwal
Phase1
·
Eot Crane Shirwal
Phase2
·
Crane Scale
·
Weighing Scale
·
Testing Equipments
·
D.G Set Shirwal
·
Mobile
·
Computer
·
Furniture
·
Office Equipment
·
TATA DI 207 Vehicle
·
TATA Mobile DI 207
·
Indica
·
Cycle
·
Chevrolet Uva
·
Hyundai Verna
·
Swift Diesel
·
Honda City
·
Hyundai Vernal New
·
Hero Honda Passion
·
ALTO 800
·
I 20 Megna
·
Flat At Goel Ganga
AS PER WEBSITE DETAILS
COMPANY PROFILE
Subject is amongst the leading Manufacturers, exporters and suppliers of high quality and high performance grain-oriented Transformer Lamination Cores in conventional and HI-B grades. Their range include Mitered Transformer Laminations, Power Transformer Lamination, Distribution Transformer Lamination and Industrial Transformer Lamination up to 75 MVA, Rectangular Strips, Assembled Core Frame Assemblies upto 5 MVA. They also provide P.T. Cores, Toroidal Cores, C.T. Cores, Loco Lamination Cores, Step Lap Cores available in both vertical and horizontal and also a combination of both.
Their company was established in the year 2000 at Pune (Maharashtra). Over the
years the company has achieved considerable growth in output and customer base.
As business grew, working from different locations became logistically
difficult and therefore the company shifted to Dhangarwadi near Shirwal (about
50 kms from Pune) adjoining Pune-Bangalore highway, which became an ideal and
strategic location for production and dispatch of its products. This set-up
covers a vast area of about 2,88,000 sq. ft. with an existing double bay shed
of 55,000 sq.ft.
The business operations of their company are being handled by three young
directors: Mr. Milind Wani, Mr. Sameer Shinde and Mr. Laxmikant Trivedi well
supported by their Technical Director, Mr. Stanley D'Costa. Mr. Stanly has more
than 40 years of experience and vast knowledge in this field. His experienced
approach as well as in-depth knowledge of the involved processes guides us in
meeting the customer specification of all their products, and other associated
product requirements of the clients.
Subject has made a firm consolidation in its business through meticulous
planning and continual improvement in quality of its products to fully meet
customer's requirements. Today, their consistency in meeting the emerging
demands of the transformer industry has assisted us in making many reputed
clients in the domestic market. Further, their production expertise allows us
to deliver the range according to the client's specification and has also aided
us in strengthening their position in the market.
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.55.19 |
|
|
1 |
Rs.86.03 |
|
Euro |
1 |
Rs.69.12 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
KVT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
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 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
48 |
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.