|
Report Date : |
07.03.2012 |
IDENTIFICATION DETAILS
|
Name : |
MAHALAKSHMEE CASTINGS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
59/27, lakshme Chhayanavsahyadri Co Op Hsg Soc, Karve
Nager, Pune – 411052, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
06.03.1996 |
|
|
|
|
Com. Reg. No.: |
097867 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.960 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27230MH1996PTC097867 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of C I Casting. |
|
|
|
|
No. of Employees
: |
14 (Approximately) |
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 20068 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established concern having moderate track. There appears
some losses incurred by the company in the current year i.e. (2010-11).
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.
INFORMATION PARTED BY
|
Name : |
Mr. Anagha |
|
Designation : |
Director |
|
Contact No.: |
91-9850059956 |
|
Date : |
05.03.2012 |
LOCATIONS
|
Registered Office : |
59/27, lakshme Chhayanavsahyadri Co Op Hsg Soc, Karve
Nager, Pune – 411052, Maharashtra, India |
|
Tel. No.: |
91-20-25440666 |
|
E-Mail : |
|
|
|
|
|
Factory 1 : |
323, Plot No.2, Post Pirangut, Taluka – Mulshi, Pune, Maharashtra,
India |
DIRECTORS
AS ON 26.09.2011
|
Name : |
Mr. Mohan Baburao Tol |
|
Designation : |
Director |
|
Address : |
59/27, lakshme Chhayanavsahyadri Co Op Hsg Soc, Karve
Nager, Pune – 411052, Maharashtra, India |
|
Date of Birth/Age : |
08.02.1940 |
|
Date of Appointment : |
06.03.1996 |
|
|
|
|
Name : |
Mrs. Varada Mohan Tol |
|
Designation : |
Director |
|
Address : |
59/27, lakshme Chhayanavsahyadri Co Op Hsg Soc, Karve
Nager, Pune – 411052, Maharashtra, India |
|
Date of Birth/Age : |
15.04.1949 |
|
Date of Appointment : |
06.03.1996 |
|
|
|
|
Name : |
Mr. Mandar Mohan Tol |
|
Designation : |
Director |
|
Address : |
59/27, lakshme Chhayanavsahyadri Co Op Hsg Soc, Karve
Nager, Pune – 411052, Maharashtra, India |
|
Date of Birth/Age : |
08.09.1978 |
|
Date of Appointment : |
08.09.2001 |
|
|
|
|
Name : |
Mrs. Anagha Mandar Tol |
|
Designation : |
Director |
|
Address : |
59/27, lakshme Chhayanavsahyadri Co Op Hsg Soc, Karve
Nager, Pune – 411052, Maharashtra, India |
|
Date of Birth/Age : |
23.05.1979 |
|
Date of Appointment : |
20.12.2007 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 26.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Mohan Baburao Tol |
|
50000 |
|
Varada Mohan Tol |
|
1010 |
|
Mandar Mohan Tol |
|
45000 |
|
Total |
|
96010 |
AS ON 26.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of C I Casting. |
|
|
|
|
Terms : |
|
|
Selling : |
Cheque |
|
|
|
|
Purchasing : |
Cheque |
PRODUCTION STATUS AS ON 31.03.2011
|
Particulars |
Unit |
|
Installed
Capacity |
Actual
Production |
|
Intricate Ferrous Castings |
MT |
|
500 |
580.893 |
@ Melting capacity of furnace per heat
1 after in house rejection
GENERAL INFORMATION
|
Customers : |
Dealer |
|
|
|
|
No. of Employees : |
14 (Approximately) |
|
|
|
|
Bankers : |
·
Kallappanna Awade Ichalkaranji Janata Sahakari
Bank Limited, 9/88(P) and 85(P), Gurukrupa, Alkapuri Society, Paud Road, Kothrud,,
Pune - 411029, Maharashtra, India ·
Small Industries Development Bank Of India,
Jeevan Shree Building, Ground Floor, S. No. 1109, Plot No.488, Ganeshkhind
Road, Shivajinagar, Pune - 411005, Maharashtra, India |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Pendurkar Survase and Company Chartered Accountant |
|
Address : |
A J Enclave, Flat No.401, Karve Nagar, Pune – 411052, Maharashtra,
India |
|
|
|
|
Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
AS ON 26.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
96010 |
Equity Shares |
Rs.10/- each |
Rs.0.960
Million |
|
|
|
|
|
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 |
0.960 |
0.960 |
0.960 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
4.057 |
8.917 |
5.931 |
|
|
4] (Accumulated Losses) |
0.000 |
0.00 |
0.000 |
|
|
NETWORTH |
5.017 |
9.877 |
6.891 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
11.094 |
9.395 |
11.335 |
|
|
2] Unsecured Loans |
6.585 |
4.230 |
3.352 |
|
|
TOTAL BORROWING |
17.679 |
13.625 |
14.687 |
|
|
DEFERRED TAX LIABILITIES |
0.115 |
0.110 |
0.360 |
|
|
|
|
|
|
|
|
TOTAL |
22.811 |
23.612 |
21.938 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
8.820 |
8.052 |
9.150 |
|
|
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 |
3.305
|
4.772 |
2.991 |
|
|
Sundry Debtors |
4.690
|
5.380 |
2.606 |
|
|
Cash & Bank Balances |
0.499
|
0.400 |
0.085 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
19.329
|
18.266 |
16.604 |
|
Total
Current Assets |
27.823
|
28.818 |
22.286 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000
|
0.000 |
0.000 |
|
|
Other Current Liabilities |
10.356
|
10.085 |
6.593 |
|
|
Provisions |
3.476
|
3.173 |
2.905 |
|
Total
Current Liabilities |
13.832
|
13.258 |
9.498 |
|
|
Net Current Assets |
13.991
|
15.560 |
12.788 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
22.811 |
23.612 |
21.938 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(4.854) |
2.303 |
(2.392) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.095 |
(0.106) |
0.214 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(4.949) |
2.409 |
(2.606) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(13.25)
|
6.25 |
(7.61) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.96)
|
0.23 |
(0.35) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
6.29
|
2.72 |
3.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.01
|
2.17 |
2.35 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
Sundry Creditors not available
|
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 |
-- |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
Mo |
Yes |
|
12) Profitability for last three years |
No |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
-- |
|
15) Capital in the business |
-- |
|
16) Details of sister concerns |
-- |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if
applicable) |
-- |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter involved
in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
-- |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
No |
|
28) Incorporation details, if applicable |
-- |
|
29) Last accounts filed at ROC |
-- |
|
30) Major Shareholders, if available |
-- |
FORM 8:
|
Corporate identity number of the company |
U27230MH1996PTC097867 |
|
Name of the company |
MAHALAKSHMEE CASTINGS PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
59/27 Lakshme Chhayanavsahyadri Co Op Hsg
Soc, Karve Nager, Pune – 411052, Maharashtra, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable Property |
|
Particular of charge holder |
Kallappanna Awade Ichalkaranji Janata
Sahakari Bank Ltd |
|
Nature of instrument creating charge |
Loan Agreement dated Nov. 10, 2010. |
|
Date of instrument Creating the charge |
10/11/2010 |
|
Amount secured by the charge |
Rs.1.000 Million |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest 11% per annum. Terms of Repayment EMI - Rs. 0.017 Million Duration - 84 month. No moratorium period. Margin 25%. Extent and Operation of the charge The first and exclusive charge on the
machinery, viz. Injection Melting System Machinery, owned by the borrower, to
be installed at Gat No. 323, Plot No. 2, Post Pirangut, Pune, until the
entire loan amount, along with interest due thereon, is repaid. |
|
Short particulars of the property charged |
Gat No. 323, Plot No. 2, Post Pirangut,
Tal Mulshi, Dist. Pune. |
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.50.02 |
|
|
1 |
Rs.79.31 |
|
Euro |
1 |
Rs.66.02 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
-- |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
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.