1. Summary Information
|
|
|
Country |
India |
|
Company Name |
M PATWARI TRADERS PRIVATE LIMITED |
Principal Name 1 |
Mr. Mogilal Takhatmal Patwari |
|
Status |
Moderate |
Principal Name 2 |
Mr. Anil Mogilal Patwari |
|
|
|
Registration # |
11-019604 |
|
Street Address |
4, Rewa Chambers, 31 New Marine Lines, Mumbai – 400020, |
||
|
Established Date |
18.04.1977 |
SIC Code |
-- |
|
Telephone# |
91-22-22053874 |
Business Style 1 |
Importer |
|
Fax # |
91-22-22014164 |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
Stainless Steel |
|
# of employees |
Not Available |
Product Name 2 |
Stainless Steel Angles |
|
Paid up capital |
Rs. 3,503,000/- |
Product Name 3 |
Shape Sections |
|
Shareholders |
Directors
or relatives of directors 100.00% |
Banking |
Andhra Bank |
|
Public Limited Corp. |
No |
Business Period |
34 Years |
|
IPO |
No |
International Ins. |
- |
|
Public |
No |
Rating |
B (27) |
|
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 |
25,277,000 |
Current Liabilities |
21,592,000 |
|
Inventories |
15,784,000 |
Long-term Liabilities |
12,845,000 |
|
Fixed Assets |
508,000 |
Other Liabilities |
542,000 |
|
Deferred Assets |
16,000 |
Total Liabilities |
34,979,000 |
|
Invest& other Assets |
2,000 |
Retained Earnings |
3,105,000 |
|
|
|
Net Worth |
6,608,000 |
|
Total Assets |
41,587,000 |
Total Liab. & Equity |
41,587,000 |
|
Total Assets (Previous Year) |
40,634,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Income |
70,059,000 |
Net Profit |
227,000 |
|
Income (Previous yr) |
92,294,000 |
Net Profit(Prev.yr) |
80,000 |
|
Report Date : |
03.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
M PATWARI TRADERS PRIVATE LIMITED |
|
|
|
|
Registered Office
: |
4, Rewa Chambers, 31 New Marine Lines, Mumbai – 400020, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
18.04.1977 |
|
|
|
|
Com. Reg. No.: |
11-019604 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 3.503 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH1977PTC019604 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM22212B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AABCM6720B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Importer of Flat Rolled Products of Stainless Steel, Stainless Steel Angles, Shape Sections, Rods, Pipes and Bars. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 26000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are reported as
fair. Business is active. Payments are reported to be slow. 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 |
LOCATIONS
|
Registered Office : |
4, Rewa Chambers, 31 New Marine Lines, Mumbai – 400020, |
|
Tel. No.: |
91-22-22053874/22011576/22056880 |
|
Fax No.: |
91-22-22014164 |
|
E-Mail : |
DIRECTORS
As on 02.09.2011
|
Name : |
Mr. Mogilal Takhatmal Patwari |
|
Designation : |
Director |
|
Address : |
3rd Floor, Flat No.15, Sunita Building 98, Cuff Parade
Road, Mumbai – 400005, Maharashtra, India |
|
Date of Birth/Age : |
11.08.1942 |
|
Date of Appointment : |
05.10.1977 |
|
Din No.: |
01098786 |
|
|
|
|
Name : |
Mr. Anil Mogilal Patwari |
|
Designation : |
Director |
|
Address : |
Sunita Building 98, 12th Floor, Flat No.72 98 G D Somani
Marg, |
|
Date of Birth/Age : |
15.06.1967 |
|
Date of Appointment : |
08.03.1989 |
|
Din No.: |
00932118 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 02.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Mogilal Takhatmal Patwari |
|
640 |
|
Anil Mogilal Patwari |
|
2650 |
|
Mahaveer Patwari |
|
2610 |
|
Rambhadevi M Patwari |
|
5760 |
|
M Mahaveer (HUF) |
|
3750 |
|
Anita M Patwari |
|
4440 |
|
Aradhana A Patwari |
|
4300 |
|
M L Patwari HUF |
|
5710 |
|
Vivek A Patwari |
|
610 |
|
Khusboo M Patwari |
|
610 |
|
Mangilal Anil patwari HUF |
|
3950 |
|
|
|
|
|
Total |
|
35030 |
As on 02.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importer of Flat Rolled Products of Stainless Steel, Stainless Steel Angles, Shape Sections, Rods, Pipes and Bars. |
||||
|
|
|
||||
|
Products : |
|
GENERAL INFORMATION
|
Bankers : |
Andhra Bank, 18, Homi Modi Street, Nanavati Mahalaya, Fort, Mumbai –
400001, Maharashtra, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
H C Vora and Associates Chartered Accountant |
|
Address : |
25/B/33 Takshila, Mahakali Caves Road, Andheri East, Mumbai – 400093,
Maharashtra, India |
|
Tel. No.: |
91-22-28371039/28211197 |
|
Pan No.: |
ABOPV7890L |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
35030 |
Equity Shares |
Rs.100/- each |
Rs.3.503
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 |
3.503 |
3.503 |
3.503 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
3.105 |
2.878 |
2.798 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
6.608 |
6.381 |
6.301 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
12.845 |
9.360 |
8.847 |
|
|
TOTAL BORROWING |
12.845 |
9.360 |
8.847 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
19.453 |
15.741 |
15.148 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.508 |
0.424 |
0.385 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.002 |
0.002 |
0.002 |
|
|
DEFERREX TAX ASSETS |
0.016 |
0.018 |
0.001 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
15.784
|
14.833
|
3.936 |
|
|
Sundry Debtors |
24.864
|
24.214
|
18.544 |
|
|
Cash & Bank Balances |
0.122
|
0.816
|
3.244 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
0.291
|
0.327
|
0.593 |
|
Total
Current Assets |
41.061
|
40.190
|
26.317 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
18.637
|
12.805
|
9.533 |
|
|
Other Current Liabilities |
2.955
|
11.394
|
1.668 |
|
|
Provisions |
0.542
|
0.694
|
0.356 |
|
Total
Current Liabilities |
22.134
|
24.893
|
11.557 |
|
|
Net Current Assets |
18.927
|
15.297
|
14.760 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
19.453 |
15.741 |
15.148 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
|
|
INCOME |
70.059 |
92.294 |
38.810 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.376 |
0.121 |
0.079 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.149 |
0.041 |
0.052 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.227 |
0.080 |
0.027 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
3.067 |
2.839 |
2.759 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.956 |
129.476 |
NA |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.48 |
2.28 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.90
|
0.30 |
0.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.02 |
0.01 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.29
|
5.37 |
3.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.86
|
1.61 |
2.28 |
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE
REVIEW:
The Company recorded
an income of Rs. 70.059 Millions against Rs. 92.294 Millions in the previous
year represents decrease of 24% but the profit before tax was higher by 210% at
Rs. 0.376 Million against Rs. 0.121 Million for the previous year. The profit
after tax at Rs. 0.227 Million was higher by 183.64% as against Rs. 0.080
Million for the previous year.
FORM 8:
|
Corporate
identity number of the company |
U51900MH1977PTC019604 |
|
Name of the
company |
M PATWARI TRADERS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
4 Rewa Chambers
31 New Marine Lines, Mumbai – 400020, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
Property Book Debts Movable Property Others |
|
Particular of
charge holder |
Andhra Bank, 18, Homi Modi Street, Nanavati Mahalaya, Fort, Mumbai –
400001, Maharashtra, India |
|
Nature of
instrument creating charge |
1.Composite
Agreement 2.Memorandum of
Deposit of Title Deeds (Annexure To Rf 255/Rf 255 Dated 24.06.2010) (All The Above
Agreement Constitue A Single Charge) |
|
Date of
instrument Creating the charge |
24.06.2010 |
|
Amount secured by
the charge |
Rs.15.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As stipulated by
bank from time to time Terms of
repayment As stipulated by
bank from time to time Margin As stipulated by
bank from time to time Extent and
operation of the charge First
charge(present and future)=total limit rs.15.000 millions (OCC = rs.5.000
millions, performance / money guarantee = rs.1.000 millions and letter of credit
= rs.9.000 millions) And/or as
stipulated by bank from time to time Others As stipulated by
bank from time to time and as per agreement. |
|
Short particulars
of the property charged |
First charge
(present and future) -hypothecation of all stock/ goods / inventories/
products kept at borrower place or in transit or whereverelse including
brought under l.c./bank finance
hypothecation of all book debts and receivables hypothecation of all
current and movable assets of the company EMG of office premises no 4 on the
ground floor of Rewa Chambers Premises Chs Limited, 31, New Marine Lines,
Mumbai -400020 |
|
Particulars of
the present modification |
By this
modification limit enhanced to rs.15.000 millions ((OCC= rs.5.000 millions,
performance/money guarantee= Rs.1.000 millions and letter of credit= Rs.9.000
millions), securities are continued as given by original charge as well as by
modifications, terms and conditions. |
FIXED ASSETS:
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.49.35 |
|
|
1 |
Rs.78.68 |
|
Euro |
1 |
Rs.65.63 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
27 |
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.