|
Report Date : |
02.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
METFAB MACHINES ( |
|
|
|
|
Registered
Office : |
D-7, New Chandra, Off |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2006 |
|
|
|
|
Date of
Incorporation : |
06.02.1998 |
|
|
|
|
Com. Reg. No.: |
11-113420 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.300 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29110MH1998PTC113420 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMM12208A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Subject is engaged in the business of Trading and
Manufacturing in a single product i.e. machines to various customers located
in |
|
|
|
|
No. of Employees
: |
Information denied by the management |
RATING & COMMENTS
|
MIRA’s Rating : |
C |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
Status : |
Dormant |
|
|
|
|
Payment Behaviour : |
-- |
|
|
|
|
Litigation : |
-- |
|
|
|
|
Comments : |
Subject is a company which has not filed its financials with
government department since 2006. The contacted person of the subject denied
to disclose any details to us. The status of the company appears to be dormant in the registrar of
companies. However, the company can be considered for business dealings only on a
safe and secured 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces of
its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to become
a major exporter of information technology services and software workers. In
2010, the Indian economy rebounded robustly from the global financial crisis -
in large part because of strong domestic demand - and growth exceeded 8%
year-on-year in real terms. However, India's economic growth in 2011 slowed
because of persistently high inflation and interest rates and little progress
on economic reforms. High international crude prices have exacerbated the
government's fuel subsidy expenditures contributing to a higher fiscal deficit,
and a worsening current account deficit. Little economic reform took place in
2011 largely due to corruption scandals that have slowed legislative work.
India's medium-term growth outlook is positive due to a young population and
corresponding low dependency ratio, healthy savings and investment rates, and
increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION DENIED
Management non Co-operative (91-22-26719788)
LOCATIONS
|
Registered Office : |
D-7, New Chandra, Off Vera Desai Road, Andheri (West), Mumbai –
400053, Maharashtra, India |
|
Tel. No.: |
91-22-26735514 |
|
Fax No.: |
91-22-26348660 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
As on: 30.09.2006
|
Name : |
Mr. Navnitlal Jayesh Shah |
|
Designation : |
Whole Time Director |
|
Address : |
B-6, 17, Majethea Apartments 189, S.V Road, Irla, Vile Parle (West), Mumbai – 400056,
Maharashtra, India |
|
Date of Birth/Age : |
17-05.1968 |
|
Date of Appointment : |
06.02.1998 |
|
|
|
|
Name : |
Mr. Jayesh Beena Shah |
|
Designation : |
Whole Time Director |
|
Address : |
B-6, 17, Majethea Apartments 189, S.V Road, Irla, Vile Parle (West), Mumbai – 400056,
Maharashtra, India |
|
Date of Birth/Age : |
29.04.1971 |
|
Date of Appointment : |
06.02.1998 |
|
|
|
|
Name : |
Mr. Navnitlal Damayanti Shah |
|
Designation : |
Whole Time Director |
|
Address : |
B-6, 17, Majethea Apartments 189, S.V Road, Irla, Vile Parle (West), Mumbai – 400056,
Maharashtra, India |
|
Date of Birth/Age : |
27.03.1932 |
|
Date of Appointment : |
06.02.1998 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2006
|
Names of Shareholders |
|
No. of Shares |
|
Navnitlal Jayesh Shah |
|
5500 |
|
Jayesh Beena Shah |
|
24500 |
|
|
|
|
|
Total |
|
30000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2006
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Subject is engaged in the business of Trading and Manufacturing in a single product i.e. machines to various customers located in India. The Board is of the opinion that business segment is "Primary Segment" |
GENERAL INFORMATION
|
Suppliers : |
·
K. Steel ·
Ambica Industries ·
Aswin Enterprise ·
Incktech Hydraulics and Engineers ·
Mangalam Engineering Works ·
Raaj Laxmi Steel Corporation ·
Santram Oxygen ·
Shankar Engineering ·
Raj Engineering ·
Rajkamal Steel Traders ·
V R. Traders ·
Panik Traders ·
Vikas Corporation ·
A.V. Brothers ·
Maruti Enterprise ·
Naseeb Paints ·
Ketan Corporation ·
Rushabh Enterprise ·
P.T. Hydraulics |
|||||||||||||||||||||||||||||||||
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|
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No. of Employees : |
Information denied by the management |
|||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||
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Bankers : |
·
Patan Co-operative Bank Limited ·
HDFC Bank Limited ·
ICICI Bank Limited |
|||||||||||||||||||||||||||||||||
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|
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Facilities : |
(Rs.
In Millions)
|
|||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Naresh S Shah Chartered Accountant |
|
Address : |
254, 5th Floor, Pratik Arcade, Near Prasad Chambers, Opera House, Tata Road, Mumbai – 400004, Maharashtra, India |
|
PAN No.: |
AAAFN0897J |
CAPITAL STRUCTURE
As on: 31.03.2006
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 |
|
|
|
|
|
|
30000 |
Equity Shares |
Rs.10/- each |
Rs.0.300
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.300 |
0.300 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.348 |
0.397 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
0.648 |
0.697 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
2.314 |
1.674 |
|
|
2] Unsecured Loans |
|
0.976 |
0.562 |
|
|
TOTAL BORROWING |
|
3.290 |
2.236 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
3.938 |
2.933 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.264 |
0.230 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
(0.106) |
(0.048) |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
4.206 |
4.414 |
|
|
Sundry Debtors |
|
0.000 |
0.991 |
|
|
Cash & Bank Balances |
|
0.228 |
0.324 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
0.070 |
0.589 |
|
Total
Current Assets |
|
4.504 |
6.318 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
0.643 |
3.395 |
|
|
Other Current Liabilities |
|
0.031 |
0.000 |
|
|
Provisions |
|
0.050 |
0.172 |
|
Total
Current Liabilities |
|
0.724 |
3.567 |
|
|
Net Current Assets |
|
3.780 |
2.751 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
3.938 |
2.933 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
5.276 |
8.347 |
|
|
|
Other Income |
|
0.341 |
0.164 |
|
|
|
TOTAL |
|
5.617 |
8.511 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
3.069 |
3.919 |
|
|
|
Factory Expenses |
|
0.892 |
1.715 |
|
|
|
Electricity Writing Expenses |
|
0.021 |
0.058 |
|
|
|
Wages and Salary |
|
0.195 |
0.271 |
|
|
|
Sales and Administrative Expenses |
|
1.356 |
2.269 |
|
|
|
TOTAL |
|
5.533 |
8.232 |
|
|
|
|
|
|
|
|
|
PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
0.084 |
0.279 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.084 |
0.066 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
0.000 |
0.213 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.050 |
0.130 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
(0.050) |
0.083 |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
|
(1.67) |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
(0.89) |
0.098 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
0.00 |
2.55 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
0.00 |
3.25 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.00 |
0.31 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
6.19 |
8.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
6.22 |
1.77 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 |
No |
|
9] |
Name of person contacted |
No |
|
10] |
Designation of contact person |
No |
|
11] |
Turnover of firm for last two years |
Yes |
|
12] |
Profitability for last two years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
Yes |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details (if applicable) |
No |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
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 |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
No |
FIXED ASSETS:
·
Plant and Machinery
·
Dot Matrix printer
·
Fax Machines
·
New Printer
·
Computer
·
New Monitor
·
Air Condition
·
Motor Car
·
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 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 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.53.78 |
|
|
1 |
Rs.86.77 |
|
Euro |
1 |
Rs.69.71 |
INFORMATION DETAILS
|
Information
Gathered by : |
SLP |
|
|
|
|
Report Prepared
by : |
VRN |
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.