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Report Date : |
12.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
MICRO FLAT DATUMS PRIVATE LIMITED |
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Registered
Office : |
Zone D-3, Plot No.25-28, GIDC, Vithal Udyognagar, Vallabh Vidyanagar,
Anand – 388 121, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
04.04.1997 |
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Com. Reg. No.: |
04-032046 |
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Capital
Investment / Paid-up Capital : |
Rs.8.970 millions |
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CIN No.: [Company Identification
No.] |
U29224GJ1997PTC032046 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BRDM01690D |
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PAN No.: [Permanent Account No.] |
AABCM6713E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturers of CI and Granite Surface Plates,
Angle Plates, Box Angle Plates, Straight Edges, Bench Centers, Parallels, Squares,
Cubes, Sine Bars, Sine Centers, Tooling Blocks, Pallet Sub Tables and
Miscellaneous Precision Inspection Equipments. |
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|
|
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No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 69000 |
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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. 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 business dealings with some
cautions. |
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 |
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Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
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 |
INFORMATION PARTED BY (General Details)
|
Name : |
Mr. Rohan Patel |
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Designation : |
Director |
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Contact No.: |
91-9898577488 |
|
Date : |
04.05.2012 |
LOCATIONS
|
Registered Office/ Factory : |
Zone D-3, Plot No.25-28, GIDC, Vithal Udyognagar, Vallabh Vidyanagar,
Anand – 388 121, |
|
Tel. No.: |
91-2692-235730/
235205 |
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Mobile No.: |
91-9898577488 (Mr. Rohan Patel) |
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Fax No.: |
91-2692-236577/
235332 |
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E-Mail : |
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Website : |
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Area : |
10000 Square Feet |
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Location : |
Leased |
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Marketing : |
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E-Mail : |
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Technical and Product Development : |
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E-Mail : |
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Calibration Service : |
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E-Mail : |
DIRECTORS
As on: 20.09.2011
|
Name : |
Mr. Rohit Arvindbhai Patel |
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Designation : |
Whole Time Director |
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Address : |
1, Park Avenue Co-Operative Society, Behind Prof. Society, Vallabh
Nagar, Vidya Nagar, Anand – 388 120, |
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Date of Birth/Age : |
18.08.1950 |
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Qualification : |
B.Com, LLB |
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Date of Appointment : |
04.04.1997 |
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DIN No.: |
00174467 |
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Name : |
Mr. Rohan Rohitbhai Patel |
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Designation : |
Director |
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Address : |
1, Park Avenue Co-Operative Society, Behind Prof. Society, Vallabh
Nagar, Vidya Nagar, Anand – 388 120, |
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Date of Birth/Age : |
33 Years |
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Qualification : |
BBA |
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DIN No.: |
03534926 |
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Name : |
Mrs. Pallavi Patel |
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Designation : |
Director |
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Address : |
Vinukaka Marg, Bakrol – 388315, |
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Date of Birth/Age : |
59 Years |
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Qualification : |
B.Com |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 20.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Udayan Jashbahi Patel |
|
89400 |
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Rohit Arvindbhai Patel |
|
130000 |
|
Pratik Navinbhai Patel |
|
120000 |
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Laxminandan Amin |
|
127500 |
|
Suresh Jashbhai Patel HUF |
|
121800 |
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Pravin Jashbhai Patel HUF |
|
120500 |
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Girish J. Patel HUF |
|
126800 |
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Suresh Jashbhai Patel |
|
5000 |
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Geetaben Sureshbhai Patel |
|
5000 |
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Rutvik Rohit Patel |
|
3000 |
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Rohan Rohitbhai Patel |
|
3000 |
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Bhairvi Pratik Patel |
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10000 |
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Girishbhai Jashbhai Patel |
|
4000 |
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Shakuntalaben Girishbhai Patel |
|
6000 |
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Pravinbhai Jashbhai Patel |
|
5000 |
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Rekhaben Pravinbhai Patel |
|
5000 |
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Archanaben Raseshbhai Amin |
|
5000 |
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Jyotsanaben Laxminandan Amin |
|
5000 |
|
Pallaviben Udyanbhai Patel |
|
5000 |
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Total |
|
897000 |
Equity Share Break up (Percentage of Total Equity)
As on: 20.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of CI and Granite Surface Plates,
Angle Plates, Box Angle Plates, Straight Edges, Bench Centers, Parallels,
Squares, Cubes, Sine Bars, Sine Centers, Tooling Blocks, Pallet Sub Tables
and Miscellaneous Precision Inspection Equipments. |
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Exports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
Cash |
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Purchasing : |
Cash |
PRODUCTION STATUS
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Particulars |
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|
2010-2011 |
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Actual Production of Finished Goods |
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|
1274 Nos. |
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GENERAL INFORMATION
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Suppliers : |
Multitec Gratise |
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Customers : |
Manufacturer
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No. of Employees : |
60 (Approximately) |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
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Auditors : |
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Name : |
P.D. Parikh and Company Chartered Accountants |
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Address : |
Opposite UCO Bank, Vallabh Vidyanagar – 388 120, |
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PAN.: |
ADOPP8540KS |
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Sister Concern : |
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CAPITAL STRUCTURE
As on: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
897000 |
Equity Shares |
Rs.10/- each |
Rs.8.970
Millions |
|
|
|
|
|
Note:
(827000 shares are allotted as fully paid pursuant
to contract without payments being received in cash and 70000 Equity Shares are
allotted as fully paid up by cash during the previous year.)
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 |
8.970 |
8.970 |
8.970 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
8.505 |
8.032 |
7.376 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
17.475 |
17.002 |
16.346 |
|
|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
7.720 |
7.531 |
11.029 |
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2] Unsecured Loans |
2.656 |
3.007 |
2.938 |
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TOTAL BORROWING |
10.376 |
10.538 |
13.967 |
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DEFERRED TAX LIABILITIES |
0.199 |
0.199 |
0.199 |
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TOTAL |
28.050 |
27.739 |
30.512 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
19.643 |
21.090 |
23.361 |
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Capital work-in-progress |
0.000 |
0.00 |
0.000 |
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INVESTMENT |
0.262 |
0.050 |
0.050 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
5.022
|
4.156 |
4.482 |
|
|
Sundry Debtors |
1.794
|
2.162 |
3.946 |
|
|
Cash & Bank Balances |
3.633
|
3.351 |
3.182 |
|
|
Other Current Assets |
0.997
|
0.598 |
0.306 |
|
|
Loans & Advances |
1.408
|
1.604 |
2.295 |
|
Total
Current Assets |
12.854
|
11.871 |
14.211 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
3.404
|
3.669 |
4.430 |
|
|
Other Current Liabilities |
0.616
|
0.684 |
0.917 |
|
|
Provisions |
0.689
|
0.919 |
1.763 |
|
Total
Current Liabilities |
4.709
|
5.272 |
7.110 |
|
|
Net Current Assets |
8.145
|
6.599 |
7.101 |
|
|
|
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|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
28.050 |
27.739 |
30.512 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
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|
SALES |
|
|
|
|
|
|
|
Sales |
25.671 |
23.806 |
25.666 |
|
|
|
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|
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
2.905 |
3.270 |
3.893 |
|
|
|
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|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.987 |
2.295 |
1.662 |
|
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|
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|
PROFIT BEFORE
TAX |
0.918 |
0.975 |
2.231 |
|
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|
|
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|
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|
Less |
TAX |
0.375 |
0.314 |
0.835 |
|
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|
PROFIT AFTER TAX
(G-H) |
0.543 |
0.661 |
1.396 |
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
8.032 |
7.376 |
5.980 |
|
|
|
|
|
|
|
|
|
Less |
Short Provision
of Expenses of the earlier year FB Tax |
0.069 |
0.009 |
0.000 |
|
|
Add |
Excess provision
of Income Tax of the earlier year |
0.000 |
0.005 |
0.000 |
|
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|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
8.505 |
8.032 |
7.376 |
|
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EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Earning in Foreign Currency |
2.276 |
16.758 |
5.638 |
|
|
TOTAL EARNINGS |
2.276 |
16.758 |
5.638 |
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IMPORTS |
|
|
|
|
|
|
|
Components & Spares |
0.000 |
0.000 |
4.397 |
|
|
|
Capital Goods |
0.000 |
0.000 |
4.397 |
|
|
TOTAL IMPORTS |
0.000 |
0.000 |
8.794 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.61 |
0.74 |
1.56 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
35.000 |
Expected Sales (2012-2013 ) : Rs.50.000 Millions (Export order)
The above information has been parted by Mr. Rohan Patels.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
3.58
|
4.10
|
8.69 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.82
|
2.96
|
5.94 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.06
|
0.14 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.86
|
0.93
|
1.29 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.73
|
2.25
|
2.00 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Construction
of the firm |
Yes |
|
Premises
details |
Yes |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
Yes |
|
Name
of Person Contacted |
Yes |
|
Designation
of contact person |
Yes |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
Yes |
|
Estimation
for coming financial year |
Yes |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
Yes |
|
Major
Suppliers |
Yes |
|
Major
Customers |
Yes |
|
Payment
Terms |
Yes |
|
Export
/ Import Details [If Applicable] |
Yes |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
PERFORMANCE:
In the year 2010-11, the company could not maintain
the growth as witnessed in the pervious years. The turnover of the Company for
the year at Rs.22.671 Millions reveals the decrease by 5% as compared to the
previous year.
For the year 2011-12 the company has set the
target to achieve the sales of Rs.35.000 Millions and as on 16th
August 2011 the company has made the net sales of Rs.9.571 Millions and has
pending order on hand amounting Rs.3.900 Millions. The company is expecting to
receive order from
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U29224GJ1997PTC032046 |
|
Name of the
company |
MICRO FLAT DATUMS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Zone D 3, Plot No.25-26, GIDC, Vithal Udyognagar, Vallabh Vidyanagar –
388 121, E-Mail: micro_flat@satyam.net.in |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Floating Charge |
|
Particular of
charge holder |
The Vallabh Vidyanagar Commercial Co-Operative Bank Limited, Opposite
B and B, E-Mail: vvccbank@yahoo.com |
|
Nature of
description of the instrument creating or modifying the charge |
Deed of
Hypothecation |
|
Date of
instrument Creating the charge |
25.10.2010 |
|
Amount secured by
the charge |
Rs.4.800 Millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: 11.90% with
monthly rest Terms of
Repayment: On demand Margin: 30% on stock 40% on book debts Extent and Operation
of the charge: The charge shall
operate as the first charge over the hypothecated properties of the company
hypothecated to the bank to secure the working capital limit granted by bank
with interest, cost, charges, etc. |
|
Short particulars
of the property charged |
Stock of raw
materials, semi and finished goods and book debts of the company situated at
Vithal Udyognagar or lying at any other places. |
FIXED ASSETS:
TRADE REFERENCES:
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.53.64 |
|
|
1 |
Rs.86.42 |
|
Euro |
1 |
Rs.69.29 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
YES |
|
--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.