MIRA INFORM REPORT
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Report Date : |
10.05.2012 |
IDENTIFICATION DETAILS
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Name : |
MARUTI STRIPS AND FERRO ALLOYS PRIVATE LIMITED |
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Registered
Office : |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
08.04.2008 |
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Com. Reg. No.: |
11-131771 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100
Million |
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CIN No.: [Company Identification
No.] |
U27101PN2008PTC131771 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM37577B |
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PAN No.: [Permanent Account No.] |
AAFCM5488A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Trader of different types of Metal Sheet. |
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No. of Employees
: |
18 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (30) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 63000 |
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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 was established as a proprietory concern in 1999 and converted
into private limited in 2008. It 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 but
correct. The company can be considered for small 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
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
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Registered Office : |
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Tel. No.: |
91-20-26059678 |
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Fax No.: |
91-20-26059678 |
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E-Mail : |
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Area : |
600 sq ft |
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Location : |
Rented |
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Head Office : |
531, D Wing, 5th Floor, Clover Centre, Camp, Pune – 411001,
Maharashtra, India |
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Tel No.: |
91-20-40069395 |
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Fax No.: |
91-20-40069395 |
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Email : |
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Corporate Office : |
1653/ 119, |
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Area : |
1000 sq. ft |
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Location : |
Owned |
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Branch Office : |
307, 3rd Floor, Maker Chambers-V, Nariman Point, Mumbai –
400021, Maharashtra, India |
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Warehouse 1/ Factory : |
S. No.14, Dhadge
Industrial Estate, Namded Phata, Singhgad, Pune - 410 041, |
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Warehouse 2 : |
210 L Block, MIDC Bhosari, Pune – 411 026, |
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Area : |
6500 sq ft |
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Location : |
Rented |
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Warehouse 3 : |
Plot No.C-9/2,
Taloja Industrial Area, MIDC, Taloja, Taluka Panvel, |
DIRECTORS
AS ON 30.09.2010
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Name : |
Mr. Shailesh Shashikant Saraswate |
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Designation : |
Director |
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Address : |
1652/19, West Street Camp, Pune – 411 001, Maharashtra, India |
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Date of Birth/Age : |
27.10.1971 |
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Qualification : |
B. Com |
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Date of Appointment : |
08.04.2008 |
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DIN No.: |
02033279 |
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Other Directorship :
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Name : |
Mr. Yogesh Shashikant Saraswate |
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Designation : |
Director |
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Address : |
1652/19, Bhimpura, Camp Education Opposite School, Pune – 411 001,
Maharashtra, India |
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Date of Birth/Age : |
03.07.1974 |
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Qualification : |
B. Com |
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Date of Appointment : |
08.04.2008 |
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DIN No.: |
01969787 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Yogesh Shashikant Saraswate |
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5000 |
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Shailesh Shashikant Saraswate |
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5000 |
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Total |
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10000 |
AS ON 02.11.2011
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Names of Allottees |
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No. of Shares |
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Shailesh Shashikant Saraswate |
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1050000 |
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Yogesh Shashikant Saraswate |
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350000 |
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Total |
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1400000 |
AS ON 30.09.2010
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
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BUSINESS DETAILS
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Line of Business : |
Manufacturer and Trader of different types of Metal Sheet. |
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Products : |
·
Ferro Alloys ·
Iron and Steel ·
Sheet Metal Fabrication ·
Steel Processing |
GENERAL INFORMATION
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No. of Employees : |
18 (Approximately) |
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Bankers : |
v
HDFC Bank, Pune Branch v v HSBC Bank v Oriental Bank of
Commerce v Dombivali Nagari
Sahakari Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Avinash Jeevan Utgikar Chartered Accountant |
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Address : |
2, Dnyanda Society, 517, Sadashiv Peth, Pune – 411 030, |
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Income-tax
PAN of auditor or auditor's firm : |
AAGPU7227B |
CAPITAL STRUCTURE
AFTER 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1410000 |
Equity Shares |
Rs.10/- each |
Rs.14.100
millions |
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AS ON 30.09.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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300000 |
Equity Shares |
Rs.10/- each |
Rs.3.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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2] Share Application Money |
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14.000 |
0.000 |
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3] Reserves & Surplus |
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1.615 |
0.000 |
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4] (Accumulated Losses) |
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0.000 |
(0.024) |
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NETWORTH |
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15.715 |
0.076 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.002 |
4.225 |
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TOTAL BORROWING |
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0.002 |
4.225 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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15.717 |
4.301 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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8.488 |
0.000 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENTS & DEPOSITS |
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0.693 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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8.154 |
0.000 |
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Sundry Debtors |
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53.305 |
0.000 |
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Cash & Bank Balances |
|
2.766 |
0.158 |
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Other Current Assets |
|
0.282 |
4.125 |
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Loans & Advances |
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0.000 |
0.000 |
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Total
Current Assets |
|
64.507 |
4.283 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
|
56.990 |
0.000 |
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Other Current Liabilities & Provisions |
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1.002 |
0.010 |
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Total
Current Liabilities |
|
57.992 |
0.010 |
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Net Current Assets |
|
6.515 |
4.273 |
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MISCELLANEOUS EXPENSES |
|
0.021 |
0.028 |
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TOTAL |
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15.717 |
4.301 |
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PROFIT & LOSS ACCOUNT
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PARTICULARS |
|
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
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395.762 |
0.000 |
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Other Income |
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|
0.000 |
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TOTAL |
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395.762 |
0.000 |
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Less |
EXPENSES |
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Office Expenses |
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|
0.024 |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
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393.323 |
0.024 |
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PROFIT/ (LOSS)
BEFORE TAX |
|
2.439 |
(0.024) |
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Less |
TAX |
|
0.800 |
0.000 |
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PROFIT/ (LOSS)
AFTER TAX |
|
1.639 |
(0.024) |
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Earnings/ (Loss)
Per Share (Rs.) |
|
163.92 |
(2.40) |
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KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
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PAT / Total Income |
(%) |
|
0.41 |
0.00 |
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Net Profit Margin (PBT/Sales) |
(%) |
|
NA |
0.00 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
|
3.34 |
(0.56) |
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Return on Investment (ROI) (PBT/Networth) |
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|
0.16 |
(0.32) |
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Debt Equity Ratio (Total Liability/Networth) |
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|
3.69 |
55.72 |
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Current Ratio (Current Asset/Current Liability) |
|
|
1.11 |
428.30 |
LOCAL AGENCY FURTHER INFORMATION
|
Check list by info
Agents |
Available in Report (Yes/ No) |
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Year of Establishment |
Yes |
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Locality of the Firm |
Yes |
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Constitution of the Firm |
Yes |
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Premises details |
Yes |
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Type of Business |
Yes |
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Line of Business |
Yes |
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Promoter’s Background |
Yes |
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No. of Employees |
Yes |
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Name of Person Contacted |
No |
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Designation of Contact person |
No |
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Turnover of Firm for last two years |
Yes |
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Profitability for last two years |
Yes |
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Reasons for variation <> 20% |
----- |
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Estimation for coming financial year |
No |
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Capital in the business |
Yes |
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Details of sister concerns |
No |
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Major Suppliers |
No |
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Major Customers |
No |
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Payments Terms |
No |
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Export/ Imports Details (If applicable) |
No |
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Market Information |
----- |
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Litigations that the firm/ Promoters Involved in |
----- |
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Banking details |
Yes |
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Banking Facility Details |
Yes |
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Conduct of the Banking Account |
----- |
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Buyer visit details |
----- |
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Financials, if provided |
Yes |
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Incorporation details is applicable |
Yes |
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Last Accounts filed at ROC |
Yes |
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Major Shareholders, if available |
Yes |
NOTE:
The registered office of the company has been shifted from 1652/19,
FINANCIAL RESULT:-
This being the Second year of the Company, they are
trying to expand the operations. The progress made by the company is
satisfactory.
FORM 8:
|
Corporate
identity number of the company |
U27101PN2008PTC131771 |
|
Name of the
company |
MARUTI STRIPS AND FERRO ALLOYS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
E-Mail: nvgopalcs@gmail.com |
|
This form is for |
Creation of
charge |
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Type of charge |
Book Debts Movable Property |
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Particular of
charge holder |
E-Mail: arun.govil@gmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
General Letter of
Hypothecation |
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Date of
instrument Creating the charge |
11.07.2011 |
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Amount secured by
the charge |
Rs.100.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: Interest @ 4.50%
p.a. over Base Rate of Allahabad Bank, (Presently Base Rate 10% of Allahabad
Bank) shall be charged with Monthly rests. Terms of
Repayment: On Demand Margin: 20% Extent and
Operation of the charge: First and
Exclusive charge by way of hypothecation of Current assets and Fixed assets
including all tangible movable machinery of the Company. Others: Limits Covered ILC Rs.100.000
millions for 90 days usance basis |
|
Short particulars
of the property charged |
First and exclusive
charge over all the present and future current assets including but not
limited to stock and other materials whether raw or manufactured or in
process of manufacture and other stocks and stores and all present and future
book debts, outstanding, money receivables claims, bills, contracts,
engagements, securities investments, cash in hand and banks, rights and
assets First and
exclusive charge over the present and future all fixed assets of the company
inter alia include all tangible movables machinery's, plant, machinery
fixture, fittings, other installations, Cranes, furniture, computers and
other accessories, vehicles together with spares, tools and accessories and
all other articles lying in the premises located at Company's godowns at Plot
No.C-9/2, Taloja Industrial Area, MIDC, Taloja, Taluka Panvel and Company's
factory Dhadge Industrial Estate, S. No.14, Namded Phata, Singhgad, Pune
410041. |
FIXED ASSETS:
v
Furniture and Fixture
v
Office Renovation
v
Godrej Refrigerator
v
Panasonic LCD
v
Philipa Home Theater
v
Samsung Washing Machine
v
Sony Television
v
Water Dispenser
v
Air Conditioner
v
Telephone Equipment
v
Breke Machine
v
Shearing Machine
v
Computer
v Land at Bhosari
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. 53.46 |
|
|
1 |
Rs. 86.27 |
|
Euro |
1 |
Rs. 69.40 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
30 |
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.