MIRA
INFORM REPORT
|
Report Date : |
04.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
GEETA MACHINE TOOLS PRIVATE LIMITED |
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Registered
Office : |
New Bharat Engineering Works Pandit Nehru Marg, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
06.09.1989 |
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Com. Reg. No.: |
04-12709 |
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Capital Investment/
Paid-up Capital: |
Rs.7.485 Millions |
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|
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CIN No.: [Company Identification
No.] |
U29220GJ1989PTC012709 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RKTG00182A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Boring and Milling, Tools and cutter
grinder machinery cutting tools, lathe machine etc. |
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No. of
Employees: |
500 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 103000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as decent. Business is active. Payments are reported
to be usually correct. The company can be considered normal for 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
|
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 |
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. Gaurav Sharma |
|
Designation : |
Marketing Manager |
|
Contact No.: |
91-9924309381 |
|
Date : |
25.09.2012 |
LOCATIONS
|
Registered Office/Factory : |
New Bharat Engineering works Pandit Nehru Marg, |
|
Tel. No.: |
91-288-2750602/2750601/2757474 |
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Mobile No.: |
91-9924309381 (Mr. Gaurav Sharma) |
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Fax No.: |
91-288-2752616 |
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E-Mail : |
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Website : |
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Area : |
60000 Sq.ft |
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Location : |
Owned |
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DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Vasantrai Pragjibhai Bhadra |
|
Designation : |
Director |
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Address : |
Urvi 7 Kamdar Colony, |
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Date of Birth/Age : |
07.05.1949 |
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Date of Appointment : |
06.09.1989 |
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Din No.: |
00159738 |
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Name : |
Mr. Sardarsinh Ladhubha Jadeja |
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Designation : |
Director |
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Address : |
604 Triveni Appartments, Pandit Nehru Marg, |
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Date of Birth/Age : |
18.09.1947 |
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Date of Appointment : |
06.09.1989 |
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Din No.: |
00160106 |
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KEY EXECUTIVES
|
Name : |
Mr. Gaurav Sharma |
|
Designation : |
Marketing Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Sardarsinh Ladhubha Jadeja |
|
139540 |
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Janakba Ladhubha Jadeja |
|
39500 |
|
Vanrajsingh Sardarsinh Jadeja |
|
38100 |
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Dhraba Vanrajsingh Jadeja |
|
15240 |
|
Jagdishsinh Sardarsinh Jadeja |
|
38100 |
|
Gopibha Jagdishsinh Jadeja |
|
15240 |
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Bharatsinnh Sardarsinh Jadeja |
|
53340 |
|
Geetaba Sardarsinh Jadeja |
|
45720 |
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Chanachalba Ladhubha Jadeja |
|
100 |
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Bhojubha Ladhubha Jadeja |
|
15240 |
|
Piyushsinh Bhojubha Jadeja |
|
11430 |
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Sukdhevsinh Bhojubha Jadeja |
|
11430 |
|
Ashoksinh Ladhubha Jadeja |
|
15240 |
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Sonalba Ashoksinh Jadeja |
|
11430 |
|
Kokilabha Ashoksinh Jadeja |
|
11430 |
|
Ajitsinh Ladhubha Jadeja |
|
7620 |
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Rajeshsinh Ajitsinh Jadeja |
|
7620 |
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Vasantrai Pragji Bhadra |
|
30480 |
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Vishal Vasantrai Bhadra |
|
15240 |
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Premilabhen Vasantrai Bhadra |
|
11430 |
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Hasumatiben Govindhi Kansagara |
|
57150 |
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Dippalben Popatlal Patel |
|
38100 |
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Ravindrasinh Navalsinh Sodha |
|
22860 |
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Raj |
|
15240 |
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Dayabhai Nathalal Rabadia |
|
15240 |
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Kansagara G.C |
|
100 |
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Indrabha Vakhatsinh Zala |
|
100 |
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Anshuyaba Kishorsinh Jadeja |
|
100 |
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Rajshree Jayaprakash Patel |
|
28050 |
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Samir Jayaprakash Patel |
|
14025 |
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Sagar Jayaprakash Patel |
|
14025 |
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Sardarsinh Ladhubha Jadeja (HUF) |
|
4000 |
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Vanrajsingh Sardarsinh Jadeja
(HUF) |
|
3000 |
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Jagdisinh Sardarsinh Jadeja
(HUF) |
|
3000 |
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Total |
|
748460 |
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|
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Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
|
Category |
|
Percentage |
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Directors or relatives of directors |
|
100.00 |
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Total
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|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Boring and Milling, Tools and cutter
grinder machinery cutting tools, lathe machine etc. |
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Exports : |
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Products : |
·
Boring and Milling ·
Tools ·
Cutter Grinder ·
Machinery Cutting Tools ·
Lathe Machine |
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Countries : |
·
·
Gulf Countries |
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Terms : |
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Selling : |
Cash/Credit |
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Purchasing : |
Cash/Credit |
PRODUCTION STATUS As on 31.03.2011
|
Particulars |
Unit |
Actual
Production |
|
Machine with accessories |
|
157 |
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Machinery Parts |
|
235 |
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|
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Licensed Capacity: The Company is not required to obtain any license under any Act for the time being in force. Therefore, the details of licencesed Capacity and Installed capacity are not applicable
GENERAL INFORMATION
|
Suppliers: |
·
B. C. Gears ( ·
A.B. Machine Tools ( · ABS Enterprise ·
Pravin and Company · ACE Infobahn Private. Limited. (Thane) · Accuspirals Bangalore · Advance Cooling Systems P Limited. · Advance Foundry Fluxes and Chemicals Rjkt ·
A E Sariya · Ajay Enterprises Thane · Ajay Traders · Ajay Syscon Private Limited ·
Akash Enterprise · Allwin Engineers Rjkt · Ananya Merchantile Services (Mumbai) · Amit Engineers (Rjkt) ·
Amrut Technocast P.L. |
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Customers : |
End users , OEM ·
Reliance Group ·
Tata Group
· AT Consultants Private. Limited · Bharat Heavy Elec. Limited · C P Agencies (Secunderabad) · Cannan Eng Private Limited Mumbai ·
Central Tool Room and · Chief Mech Engineer Manmad · Chief Mech Engineer Planning Dhankuni – · Chief Works Manager Jamalpur 2 · Paltech Cooling Tower and Equipments · Radhe Engineers Ahd · Sayaji Iron and Engg. Co. Limited. ·
S and T Engineers ( ·
Surya Global Steel Tubes Limited. ( |
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No. of Employees : |
500 (Approximately) |
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Bankers : |
·
Bank Of · Dena Bank ·
State Bank of ·
HDFC Bank Limited ·
Kotak Mahindra Bank Limited ·
Indusind Bank |
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Facilities : |
Rs.
In Millions
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Rajnikant V. Pragada Chartered Accountant |
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Address : |
102, Riddhi Siddhi Apartment, Opposite Axis Bank, |
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Pan No.: |
ANTPP0162A |
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CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs.10/- each |
Rs.7.500 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
748460 |
Equity Shares |
Rs.10/- each |
Rs.7.485
Millions |
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|
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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 |
7.485 |
7.485 |
7.485 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
18.294 |
13.934 |
10.556 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
25.779 |
21.419 |
18.041 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
48.343 |
45.616 |
40.172 |
|
|
2] Unsecured Loans |
26.490 |
23.966 |
20.455 |
|
|
TOTAL BORROWING |
74.833 |
69.582 |
60.627 |
|
|
DEFERRED TAX LIABILITIES |
0.361 |
0.420 |
0.382 |
|
|
|
|
|
|
|
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TOTAL |
100.973 |
91.421 |
79.050 |
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|
|
|
|
|
|
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APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
14.691 |
15.217 |
15.424 |
|
|
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 |
24.510
|
7.190 |
38.315 |
|
|
Sundry Debtors |
75.543
|
104.820 |
57.059 |
|
|
Cash & Bank Balances |
38.341
|
17.235 |
15.954 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
11.979
|
12.096 |
12.411 |
|
Total
Current Assets |
150.373
|
141.341 |
123.739 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
56.575
|
55.759 |
51.171 |
|
|
Other Current Liabilities |
5.436
|
7.820 |
7.794 |
|
|
Provisions |
2.080
|
1.558 |
1.148 |
|
Total
Current Liabilities |
64.091
|
65.137 |
60.113 |
|
|
Net Current Assets |
86.282
|
76.204 |
63.626 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
100.973 |
91.421 |
79.050 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
157.476 |
171.154 |
120.261 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
151.095 |
166.083 |
117.091 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE |
6.380 |
5.071 |
3.170 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.021 |
1.693 |
1.096 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
4.359 |
3.378 |
2.074 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
13.935 |
10.557 |
8.483 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
18.294 |
13.935 |
10.557 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.82 |
4.51 |
2.27 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
150.000 |
|
|
|
|
|
Expected Sales (2012-2013) : Rs.170.000 Millions
The above information has been parted by Mr. Gaurav Sharma (Marketing
Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.77 |
1.97 |
1.72 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.87 |
3.24 |
2.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25 |
0.24 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.39 |
6.29 |
6.69 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.35 |
2.17 |
2.06 |
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 three 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 |
Yes |
|
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 |
FORM 8
|
Corporate
identity number of the company |
U29220GJ1989PTC012709 |
|
Name of the
company |
GEETA MACHINE
TOOLS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
New Bharat Engineering works Pandit Nehru Marg, Email: geetajam@rediffmail.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be
modified |
10183683 |
|
Type of charge |
· Immovable property · Book debts · Movable property (not being pledge) · Floating charge ·
Others |
|
Particular of
charge holder |
Bank Of Email: uday.jha@bankofindia.co.in
|
|
Nature of
instrument creating charge |
Instrument
Modifying The Charge : Supplemental
Memorandum Of Deposit Of Title Deeds |
|
Date of
instrument Creating the charge |
11.04.2011 |
|
Amount secured by
the charge |
Rs. 120.000 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Cash credit (stocks & Book Debts) )3.75 % Above Base
Rate presently, 13.25% p.a. with monthly rests Term
of Payment: Cash Credit Repayable On Demand Margin 1. Cash Credit : Margin At 25% on stocks and 50% on book
debts. 2. Guarantee Limit : Margin at 20% Extent and
operation of the charge The charge
operates to extend security over the properties of the company as describe in
sr. 15 of this form in favour of the bank to secure repayment of entire
finance amount of rs. 12.00 crores (rupees twelve crores only) granted to the
company in addition to all interests, costs and expenses. |
|
Short particulars
of the property charged (Including location of the property) |
ALl
the pieces and parcels of land situated at R. Survey Nos. 215, 216 and 217
Paiki C. S. NO.3900 Sheet No. 75, Ward No. 10 Admeasuring 7630.83 SQ/MT
Situated At Bedi Bunder ROAD, All
the pieces and parcels of land situated At Flat No. 401, 4TH Floor, Mile
Stone, Plot No.47, C. S. 1/G/4, District Survey No. 2880 Admeasuring 116.22
Square Mt, |
|
Date of last modification prior to the present modification |
30.03.2011 |
|
Particulars of the present modification |
There
is no change in limit. the charge is further secured by equitable mortgage of
immovable properties of the company to secure existing limit of Rs. 120.000
Millions as under: 1.
Cash Credit (Stock) RS. 40.000 Millions 2.
Cash Credit (Book Debts) OF RS. 40.000 Millions Maximum
Limit Of 1 + 2 Shall Not Exceed RS. 40.000 Millions 3. Guarantee
Limit RS. 80.000 Millions |
FIXED ASSETS:
·
Land
·
·
Electric Fittings
·
Air Conditioner
·
Electronic Camera
·
Generator
·
Machinery
·
Measuring instrument
·
Office equipment
·
Plant and Machinery
·
Television
·
Scooter
·
Cycle
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 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.52.33 |
|
|
1 |
Rs.84.30 |
|
Euro |
1 |
Rs.67.45 |
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 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
|
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.