MIRA
INFORM REPORT
|
Report Date : |
09.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
PRECISE ENGINEERING MODELS PRIVATE LIMITED (w.e.f.
15.07.2009) |
|
|
|
|
Formerly Known
As : |
PRECISESCALE ENGINEERING MODELS PRIVATE LIMITED |
|
|
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|
Registered Office
: |
16, Premanagar, Outer Ring Road, Laggere, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
28.07.2008 |
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Com. Reg. No.: |
08-047319 |
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|
|
Capital
Investment/ Paid-up Capital: |
Rs.0.100 Million |
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|
|
CIN No.: [Company Identification
No.] |
U29128KA2008PTC047319 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of Engineering Scale Models. |
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|
|
|
No. of
Employees: |
12 (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 300 |
|
|
|
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a successor of Precise Engineering a partnership concern
started in the year 2002. Its is an established company having moderate track Though the company was converted in to a private limited company in
2008 it started activities in the private limited company in September 2010
since the company has recently commenced with its commercial activity it has
incurred some accumulated losses. 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
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
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
|
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 PARTED BY
|
Name : |
Mr. Nityanand Mahale |
|
Designation : |
Director |
|
Contact No.: |
91-9845396473 |
|
Date : |
07.11.2012 |
LOCATIONS
|
Registered Office / Factory : |
16, Premanagar, Outer Ring Road, Laggere, |
|
Tel. No.: |
91-80-65625233 |
|
Mobile No.: |
91-9845396473
(Mr. Nityanand Mahale) |
|
Fax No.: |
91-80-28375233 |
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E-Mail : |
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|
Website : |
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|
Area : |
15000 Sq. Ft. |
|
Location : |
Rented |
DIRECTORS
As on 05.09.2011
|
Name : |
Mr. Nityanand Pandu Mahale |
|
Designation : |
Director |
|
Address : |
No 681, 2nd Floor, 4th Cross, Mahalakshmi
Layout, |
|
Date of Birth/Age : |
22.11.1971 |
|
Date of Appointment : |
28.07.2008 |
|
Din No.: |
02237258 |
|
|
|
|
Name : |
Mr. Channarangaiah Srinivas |
|
Designation : |
Director |
|
Address : |
No 35, (New No.137) J.J.S. Kaval Shankara Nagar, |
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Date of Birth/Age : |
05.06.1976 |
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Date of Appointment : |
28.07.2008 |
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Din No.: |
02105864 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 05.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Nityanand Mahale |
|
5000 |
|
Channarangaiah Srinivas |
|
5000 |
|
|
|
|
|
Total |
|
10000 |
Equity Share Break up (Percentage of Total Equity)
As on 05.09.2011
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
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|
|
|
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Importer of Engineering Scale Models. |
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|
|
|
Products : |
·
Miniature
Models ·
Exhibition
Models ·
Demonstration
Models ·
Prototype
Models ·
Working
Models ·
Plant
Models ·
Machine
Models ·
Transparent
Models ·
Defence Models ·
Cut
Sectional Models ·
Architectural
Models ·
Topographical
Ground Models for Product Organizations ·
Power
Industry Organizations ·
Project
Industry Organizations ·
Engineering
models ·
Scale
Models ·
Micro
Models ·
Miniature
Models ·
Industrial
Models ·
Cut
Sectional Models ·
Demo
Mod Models ·
Model makers ·
Model Designers ·
Sectional Models ·
Micro Engineering Models ·
Down Engineering Models |
|
|
|
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Exports : |
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Products : |
Engineering Scale Models. |
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Countries : |
·
·
·
US |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
End users G E Limited, |
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No. of Employees : |
12 (Approximately) |
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Bankers : |
·
Corporation Bank, ·
State
Bank of Hyderabad, RASMECCC, 11/90, I Floor, J C Road, Bangalore - 560002,
Karnataka, India |
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|
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Banking
Relations : |
-- |
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Auditors : |
|
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Name : |
Bpssy and Company Chartered Accountant |
|
Address : |
277, Habitat House, Unit 201, 1st Floor, 1st
Main, Chamarajpet, |
|
Tell No.: |
91-80-26705680 |
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Mobile No.: |
91-9988752428 |
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E-Mail : |
|
|
Pan No.: |
AAJFB9442L |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
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 |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(0.029) |
(0.040) |
(0.020) |
|
|
NETWORTH |
0.071 |
0.060 |
0.080 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
1.226 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
|
|
|
|
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TOTAL |
1.297 |
0.060 |
0.080 |
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|
|
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|
|
APPLICATION OF FUNDS |
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|
|
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|
|
|
|
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|
FIXED ASSETS [Net Block] |
0.935 |
0.000 |
0.000 |
|
|
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 |
|
|
|
|
|
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|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
0.838
|
0.050 |
0.050 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
0.838
|
0.050 |
0.050 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.153
|
0.000 |
0.000 |
|
|
Other Current Liabilities |
0.267
|
0.000 |
0.000 |
|
|
Provisions |
0.076
|
0.020 |
0.010 |
|
Total
Current Liabilities |
0.496
|
0.020 |
0.010 |
|
|
Net Current Assets |
0.342
|
0.030 |
0.040 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.020 |
0.030 |
0.040 |
|
|
|
|
|
|
|
|
TOTAL |
1.297 |
0.060 |
0.080 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Turnover |
15.000 (Approximately) |
0.000 |
0.000 |
|
|
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Office Expenses |
|
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Administrative Expenses |
NA |
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Advertising Expenses |
|
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|
|
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TOTAL |
NA |
0.010 |
0.010 |
|
|
|
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|
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|
|
|
PROFIT BEFORE
TAX |
NA |
(0.020) |
(0.020) |
|
|
|
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|
|
|
|
|
|
TAX |
NA |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
NA |
(0.020) |
(0.020) |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
16.000 |
|
|
|
|
|
Expected Sales (2012-2013) Rs.20.000 Millions
The above information has been parted by Mr. Nityanand
Mahale
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
(40.00) |
(40.00) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
(0.33) |
(0.25) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
24.25 |
0.33 |
0.13 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.69 |
2.50 |
5.00 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
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 two years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
Yes |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
No |
|
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 |
No |
|
Major
Shareholders, if applicable |
Yes |
|
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
PAN
of Proprietor/Partner/Director, if available |
No |
|
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
External Agency
Rating, if available |
No |
NOTE:
The Registered office of the company has been
from the shifted No 247,
FINANCIAL RESULTS:
The company has commenced
the business operations for the previous year and reached the target of
Turnover and expecting the good orders from the customers during the current
year however company has been prepared the Profit and Loss Account for the year
ending 31.03.2011 and made a Profit.
The company will take all
the steps to improve the above result for the next financial year onwards.
Company has planning to expand the operations so as to improve its financial
results barring unforeseen events, keeping in view of the company whose
contribution is inevitable that there is no hard action on employees to the
above results and further strengthening of it
TRADE REFERENCE
·
·
G E Limited,
FORM 8
|
Corporate
identity number of the company |
U29128KA2008PTC047319 |
|
Name of the
company |
PRECISE
ENGINEERING MODELS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
16, Premanagar, Outer Ring Road, Laggere, Email: casathishar@gmail.com
|
|
This form is for |
Creation of charge |
|
Type of charge |
· Book debts · Movable property (not being pledge) · Floating charge |
|
Particular of
charge holder |
State Bank Of Email: sbhrasecc_blore@sbhyd.co.in |
|
Nature of
instrument creating charge |
Agreement
of Loan-Cum-Hypothecation |
|
Date of
instrument Creating the charge |
01.10.2012 |
|
Amount secured by
the charge |
Rs.1.500 Million |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest CC - Base Rate + 3.50% (presently 13.75% p.a) Subject to revision from time to time Term
of Payment: CC - Running account repayable on demand Margin CC -25% Stocks 50% domestic
Receivables Extent and
operation of the charge The
charge shall operate to the extent of the loan amount plus interest commission
costs expenses and other charges thereon |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation
of Stocks and receivables |
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 guiltyor 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.54.44 |
|
|
1 |
Rs.87.00 |
|
Euro |
1 |
Rs.69.48 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
BYI |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
YES |
|
--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.