|
Report Date : |
20.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
VICTORY PLANT AND MACHINERY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Building No. 145/154, Shed No. 5 and 6, Mankoli Naka, Bhiwandi Bypass
Road, Bhiwandi – 421 302, Maharashtra |
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|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2010 |
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|
|
|
Date of
Incorporation : |
16.03.2005 |
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|
Com. Reg. No.: |
11-152005 |
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|
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Capital
Investment / Paid-up Capital : |
Rs.0.400 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29266MH2005PTC152005 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
PNEV04942A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCV0381Q |
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|
|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Cable Making Machine |
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|
No. of Employees
: |
65 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 12000 |
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|
|
|
Status : |
Moderate |
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|
|
Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Latest
financials of the company are not available with government departments.
However, trade relations are reported as fair. Business is active. Payments
are reported to be slow but correct. The company can be considered for 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 (30.06.2011) |
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. Sunil B. |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-252-23204401 |
|
Date : |
06.06.2012 |
LOCATIONS
|
Registered Office /Factory : |
Building No. 145/154, Shed No 5 and 6, Mankoli Naka, Bhiwandi Bypass
Road, Bhiwandi – 421 302, Maharashtra, India. |
|
Tel. No.: |
91-252-2320440 / 2320441 / 91-22-25891883 |
|
Fax No.: |
91-22-25853255 |
|
Mobile No.: |
91-9819388990 (Mr. P. G. Suboo) |
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E-Mail : |
|
|
Website: |
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|
Location : |
Owned |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Sabukutty Geevarghese Palathundil |
|
Designation : |
Director |
|
Address : |
Flat No. 504, Building No. 7, Mandargiri, Sidhachal Phase – II CHS.,
Pokhran Road No.2, Thane – 400 601, Maharashtra, India. |
|
Date of Appointment : |
16.03.2005 |
|
DIN No.: |
01873948 |
|
|
|
|
Name : |
Mrs. Lissy Sabu |
|
Designation : |
Director |
|
Address : |
Flat No. 504, Building No. 7, Mandargiri, Sidhachal Phase – II CHS.,
Pokhran Road No.2, Thane – 400 601, Maharashtra, India. |
|
Date of Appointment : |
16.03.2005 |
|
DIN No.: |
01873987 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Mr. Sabukutty G. Palathundil |
24000 |
|
Mrs. Lissy Sabu |
16000 |
|
TOTAL |
40000 |
As on 30.09.2010
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Cable Making Machine |
|
|
|
|
Products : |
·
Stranding Machines ·
Strip Rewinder ·
Fix Caterpillar ·
Armouring Machines ·
Copper Taping ·
Tabular Machines |
|
|
|
|
Exports : |
|
|
Products : |
·
Finished Goods |
|
Countries : |
·
South Africa ·
UAE ·
Bangladesh |
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Terms : |
|
|
Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
Manufacturing Companies |
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No. of Employees : |
65 (Approximately) |
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Bankers : |
The Federal Bank Limited, Ajit Darshan, 3, Petrol Pump Junction, Thane
(West), Mumbai – 400 602, |
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Facilities : |
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Banking Relations
: |
-- |
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|
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Auditors : |
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|
Name : |
D. Daniel and Company Chartered Accountants |
|
Address : |
3, Trimurti Apartments, Dada Patil Marg, Naupada, Thane-400 602, |
|
Tel. No.: |
91-22-25421213/ 25381414 |
|
PAN.: |
AAOPD5441N |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
40000 |
Equity Shares |
Rs.10/- each |
Rs.0.400
million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.400 |
0.400 |
0.400 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2.649 |
1.552 |
0.914 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3.049 |
1.952 |
1.314 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
4.086 |
3.470 |
5.355 |
|
|
2] Unsecured Loans |
9.555 |
2.131 |
2.611 |
|
|
TOTAL BORROWING |
13.641 |
5.601 |
7.966 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
16.690 |
7.553 |
9.280 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
8.502 |
2.264 |
2.565 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
27.780
|
39.770 |
52.039 |
|
|
Sundry Debtors |
46.878
|
54.762 |
29.895 |
|
|
Cash & Bank Balances |
0.140
|
0.019 |
0.002 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
74.798
|
94.551 |
81.936 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
35.499
|
39.903 |
37.088 |
|
|
Other Current Liabilities |
30.155
|
48.217 |
37.584 |
|
|
Provisions |
0.956
|
1.142 |
0.554 |
|
Total
Current Liabilities |
66.610
|
89.262 |
75.226 |
|
|
Net Current Assets |
8.188
|
5.289 |
6.710 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.005 |
|
|
|
|
|
|
|
|
TOTAL |
16.690 |
7.553 |
9.280 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
87.275 |
128.340 |
122.497 |
|
|
|
Other Income |
0.652 |
0.368 |
0.062 |
|
|
|
TOTAL (A) |
87.927 |
128.708 |
122.559 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Expenses |
63.693 |
99.551 |
95.112 |
|
|
|
Direct Expenses |
13.819 |
18.495 |
19.007 |
|
|
|
Administrative and Office Expenses |
5.806 |
6.414 |
4.762 |
|
|
|
Selling Expenses |
1.641 |
1.378 |
1.191 |
|
|
|
Preliminary Expenses written off |
0.000 |
0.005 |
0.005 |
|
|
|
TOTAL (B) |
84.959 |
125.843 |
120.077 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2.968 |
2.865 |
2.482 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
1.030 |
1.467 |
1.014 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.938 |
1.398 |
1.468 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.350 |
0.381 |
0.355 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1.588 |
1.017 |
1.113 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.491 |
0.423 |
0.377 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1.097 |
0.594 |
0.736 |
|
|
|
|
|
|
|
|
|
|
Earnings Per Share
(Rs.) |
27.43 |
-- |
-- |
|
|
Particulars |
|
31.03.2012 |
31.03.2011 |
|
Sales Turnover (Approximately) |
|
85.000 (Some orders
were cancelled) |
120.000 |
The above information has been parted by Mr. Sunil B.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.24
|
0.46 |
0.60 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.22
|
0.79 |
0.90 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.90
|
1.05 |
1.31 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.52
|
0.52 |
0.84 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
26.32
|
48.59 |
63.31 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.12
|
1.05 |
1.08 |
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% |
Yes |
|
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 |
-- |
|
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 |
NOTE:
Registered office address of the company has been shifted from “Plot No.268,
Pande Industrial Estate, pokharan Road, No.1, Uovan, Thane – 400606,
Maharashtra, India” to “Old Kiran Mill Compound, Next to Air Force Colony,
Kolshet Village, Kolshet, Thane – 400 607, Maharashtra, India” w.e.f.
27.03.2008. The registered office address again shifted from “Old Kiran Mill
Compound, Next to Air Force Colony, Kolshet Village, Kolshet, Thane – 400 607,
Maharashtra, India” to the present address w.e.f. 01.08.2011
FINANCIAL HIGHLIGHTS:
The Company has achieved a financial turnover
of Rs.87.275 millions during the year, less than 75% of the previous year. The
Company registered a profit of Rs.1.588 millions before tax.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U29266MH2005PTC152005 |
|
Name of the
company |
VICTORY PLANT AND
MACINERY PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Old Kiran Mill
Compound, Next to Air Force Colony, Kolshet Village, Kolshet, Thane – 400 607,
Maharashtra, India. Email : chetan.joshi25@yahoo.co.in |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10099393 |
|
Type of charge |
Book Debts Movable Property
(not being pledge) Floating Charge |
|
Particular of
charge holder |
The Federal Bank
Limited, Near Ajit Darshan, Teen Petrol Pump Junction, Thane (West), Mumbai –
400 602, Email : aparnajishics@rediffmail.com |
|
Nature of
instrument creating charge |
Single Counter
Guarantee |
|
Date of
instrument Creating the charge |
19.11.2010 |
|
Amount secured by
the charge |
Rs.5.000 Millions |
|
Brief of the principal
terms and conditions and extent and operation of the charge |
Rate of Interest Commission as per
rules Terms of
Repayments Lumpsun Margin Cash Margin – 20% Extent and
operation of the charge The charge is reduced
from Rs.10.000 millions to Rs.5.000 millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of
stock, work in progress, goods in transit, advance payment to suppliers with
25% margin and book debts with 40% margin. Hypothecation of
plant and machinery valued at Rs.6.132 millions Floating charge
on movable asset whatsoever. |
|
Date of
instrument modifying the charge |
31.03.2008 |
|
Particulars of the
present modification |
The existing
charge for Bank Guarantee is reduced as BG Limit reduced from Rs.10.000
millions to Rs.5.000 millions |
FIXED ASSETS:
·
Air Conditioner
·
Computer
·
Office Cabins
·
Office Furniture
·
Plant and Machinery
·
Office Equipments
·
Store Racks
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.56.01 |
|
|
1 |
Rs.87.85 |
|
Euro |
1 |
Rs.70.54 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
32 |
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.