1. Summary Information
|
|
|
Country |
India |
|
Company Name |
Nickunj Edm Wires and Consumables Private Limited |
Principal Name 1 |
Mr. Nickunj Gunvant Shah |
|
Status |
Satisfactory |
Principal Name 2 |
Mrs. Neelam Nickunj Shah |
|
|
|
Registration # |
11-175365 |
|
Street Address |
Sri Joravar Bhavan, 93 M. Karve Road, Marine Lines, Mumbai
– 400020, Maharashtra, India |
||
|
Established Date |
24.10.2007 |
SIC Code |
-- |
|
Telephone# |
91-22-43220300/ 22190300 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22-22060415 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Brass Wire |
|
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.22.900,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of
directors-100% |
Banking |
State Bank of India |
|
Public Limited Corp. |
No |
Business Period |
5 years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
Ba
(42) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associate/Subsidiaries
: |
-- |
Whiton Chem Private Limited |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
81,561,000 |
Current Liabilities |
75,798,000 |
|
Inventories |
51,585,000 |
Long-term Liabilities |
46,857,000 |
|
Fixed Assets |
44,694,000 |
Other Liabilities |
7,581,000 |
|
Deferred Assets |
18,000 |
Total Liabilities |
130,236,000 |
|
Invest& other Assets |
20,000 |
Retained Earnings |
24,742,000 |
|
|
|
Net Worth |
47,642,000 |
|
Total Assets |
177,878,000 |
Total Liab. & Equity |
177,878,000 |
|
Total Assets (Previous Year) |
167,486,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales (Including Other Income) |
176,358,000 |
Net Profit |
6,473,000 |
|
Sales(Previous yr) (Including Other Income) |
169,720,000 |
Net Profit(Prev.yr) |
5,682,000 |
|
Report Date : |
09.10.2012 |
|
|
|
|
Tel. No.: |
91-22-22190300 |
|
Fax No.: |
91-22-22060415 |
IDENTIFICATION DETAILS
|
Name : |
NICKUNJ EDM WIRES AND CONSUMABLES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Sri Joravar Bhavan, 93 M. Karve Road, Marine Lines, Mumbai
– 400020, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
24.10.2007 |
|
|
|
|
Com. Reg. No.: |
11-175365 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.22.900
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U27300MH2007PTC175365 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMN15832F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCN7254N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Brass Wire. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 190000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a part of Nickunj group. It is established company having satisfactory
track record. Trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for business dealing 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 |
|
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 |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
FITCH |
|
Rating |
B+ (Long Term Rating) |
|
Rating Explanation |
This rating indicate material risk but
limited margin of safety remains. Financial commitments are currently being met.
Capacity for continued payment is vulnerable to deterioration in the business
and economics. |
|
Date |
27.07.2012 |
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.
LOCATIONS
|
Registered/ Head Office : |
Sri Joravar Bhavan, 93 M. Karve Road, Marine Lines, Mumbai
– 400020, Maharashtra, India |
|
Tel. No.: |
91-22-43220300/ 22190300 |
|
Fax No.: |
91-22-22060415 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Manufacturing Plants : |
Baddi Phone: 91-1795-245540 Fax: 91-1795-245539 Email: baddi-newcpl@nickunjgroup.com Umbergaon
(Gujarat) Plot No: 115, New GIDC, Umbergaon District Valsad -
396171, Gujarat, India Fax:91-260-2561076 |
|
|
|
|
Branch Office : |
Located at: · Ahmedabad · Bangalore · Chennai · Coimbatore · Hyderabad · Jaipur · Kolkata · Ludhiana · New Delhi · Pune · Surat |
|
|
|
|
Showroom : |
Jewellery
Manufacturing Machines andConsumables F/112 Nahar and Seth Industrial Estate, Chakala, Andheri (East), Mumbai – 400099, Maharashtra, India |
|
Tel No.: |
91-22-28254218 / 219 |
|
Email : |
|
|
|
|
|
|
|
|
Technical
Support and Service Center |
Machine Tools
and Accessories, Abrasives and Pneumatic Tools, Jewellery Mfg. M/c Gala No: 4, Cama Industrial Estate, Sunmill Compound, Lower Parel (West), Mumbai – 400013, Maharashtra, India |
|
Tel No.: |
91-22-43490400. |
|
Toll Free No.: |
1-800-103-NICK |
|
Email : |
DIRECTORS
(AS ON 30.09.2011)
|
Name : |
Mr. Nickunj Gunvant Shah |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
22/23, Krishna Mahal 63 Netaji Subhash Road, Marine Drive, Mumbai –
400020, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
13.01.1961 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
24.10.2007 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00586065 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorships :
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mrs. Neelam Nickunj Shah |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
22/23, Krishna Mahal 63 Netaji Subhash Road, Marine Drive, Mumbai –
400020, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
03.01.1962 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
24.10.2007 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00585888 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorships :
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Mishal Nickunj Shah |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
22/23, Krishna Mahal 63 Netaji Subhash Road, Marine Drive, Mumbai – 400020,
Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
24.05.1988 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
24.10.2007 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00668999 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorships :
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Khrisha Nickunj Shah |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
22/23, Krishna Mahal 63 Netaji Subhash Road, Marine Drive, Mumbai –
400020, Maharashtra, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
05.05.1991 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
02.08.2012 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
05293657 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorships :
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Anil Kumar Jain |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
House No.184, Sector 18-A, Chandigarh – 160018, Chandigarh, India |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
04.01.1954 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
29.09.2009 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
02655957 |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other Directorships :
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Nickunj Gunvant Shah |
|
1030500 |
|
Neelam Nickunj Shah |
|
1030500 |
|
Niriti Nickunj Shah |
|
114500 |
|
Mishal Nickunj Shah |
|
114500 |
|
|
|
|
|
Total |
|
2290000 |
(AS ON 30.09.2011)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Bras Wire. |
|
|
|
|
Products : |
EDM Wires |
PRODUCTION STATUS (AS ON 31.03.2011)
|
Particulars |
Unit |
Actual Production |
|
|
|
|
|
Electricity (KWH) HPSEB |
KWH |
348981 |
|
Light Diesel Oil (LOD) KWH |
KWH |
11720 |
|
Total KWH |
KWH |
360701 |
|
Total Production |
KGS |
180960 |
|
KWH / KG |
KWH |
1.99 |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· State Bank of India SME Backbay
Reclamation Branch, Mittal Court, B-Wing, Nariman Point, Mumbai –
400021,Maharashtra, India · State Bank of India Raheja Chambers,
Free press Journal Marg, Nariman Point, Mumbai – 400021, Maharashtra, India · Citi Bank · Indian Bank |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Mahendra Zaveri and Company Chartered Accountant |
|
Address : |
Air-Conditioned Market, Office No. 8 and 27, 6th
Floor, Tardeo, Mumbai – 400034, Maharashtra, India |
|
Tel No.: |
91-22-23514112/ 23515045 |
|
PAN No.: |
AAAPZ2723R |
|
Email : |
|
|
|
|
|
Associates/Subsidiaries : |
· Whiton Chem Private Limited · Nickunj Enterprises (India) · Nickunj Eximp Enterprises Private Limited |
CAPITAL STRUCTURE
(AS ON 30.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs.30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2290000 |
Equity Shares |
Rs.10/- each |
Rs.22.900
Millions |
|
|
|
|
|
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 |
22.900 |
22.900 |
7.900 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
24.742 |
18.074 |
12.393 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
47.642 |
40.974 |
20.293 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
37.057 |
44.442 |
16.724 |
|
|
2] Unsecured Loans |
9.800 |
23.250 |
23.250 |
|
|
TOTAL BORROWING |
46.857 |
67.692 |
39.974 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
94.499 |
108.666 |
60.267 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
44.694 |
30.287 |
34.838 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.018 |
0.139 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
51.585
|
29.400 |
8.453 |
|
|
Sundry Debtors |
48.524
|
74.807 |
38.127 |
|
|
Cash & Bank Balances |
11.030
|
10.613 |
23.363 |
|
|
Other Current Assets |
0.094
|
0.061 |
0.025 |
|
|
Loans & Advances |
21.913
|
22.148 |
20.279 |
|
Total
Current Assets |
133.146
|
137.029 |
90.247 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
27.007
|
52.233 |
17.393 |
|
|
Other Current Liabilities |
48.791
|
0.387 |
43.728 |
|
|
Provisions |
7.581
|
6.200 |
3.720 |
|
Total
Current Liabilities |
83.379
|
58.820 |
64.841 |
|
|
Net Current Assets |
49.767
|
78.209 |
25.406 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.020 |
0.031 |
0.023 |
|
|
|
|
|
|
|
|
TOTAL |
94.499 |
108.666 |
60.267 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
176.358 |
169.720 |
163.532 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
167.465 |
161.697 |
156.782 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
8.893 |
8.023 |
6.750 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
2.420 |
2.341 |
2.379 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
6.473 |
5.682 |
4.371 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
18.074 |
12.392 |
NA |
|
|
|
|
|
|
|
|
|
Add |
Excess Income
Tax |
0.195 |
0.000 |
NA |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
24.742 |
18.074 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.83 |
2.48 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.67
|
3.35 |
2.67 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.00
|
4.80 |
5.40 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.20 |
0.33 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.73
|
3.09 |
5.17 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.60
|
2.33 |
1.39 |
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 three years |
Yes |
|
12] |
Profitability for last three 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 |
Yes |
|
17] |
Major suppliers |
No |
|
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 |
Yes |
|
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 |
Yes |
REVIEW OF
OPRATIONS
The financial year
ended 31st March, 2011, the revenue of the Company has increased to Rs.176.358 Millions
as compared to previous year ended 31st March, 2010 which amounted to
Rs.169.720 Millions. The expenditure of the Company amounted to Rs.167.465
Millions during the financial year ended 31st March, 2011, as compared to
Rs.161.697 Millions in the financial year ended 31st March, 2010. The Profit
after tax for the Current year has been increased by Rs.0.791 Millions.
FORM 8:
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10151016 |
|
Corporate
identity number of the company |
U27300MH2007PTC175365 |
|
Name of the
company |
NICKUNJ EDM WIRES
& CONSUMABLES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Sri Jorawar Bhavan,
4th Floor, Maharshi Karve Road, Marine Lines, Mumbai – 400020, Maharashtra,
India |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
· State Bank of India SME Backbay
Reclamation Branch, Mittal Court, B-Wing, Nariman Point, Mumbai -
400021,Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Memorandum for
Recording Extension of Mortgage by Deposit of Title Deeds |
|
Date of
instrument Creating the charge |
09/07/2012 |
|
Amount secured by
the charge |
Rs.85.000
Millions |
|
Brief particulars
of the principal terms and conditions and extent and operation of the charge |
Extent and
Operation of the charge First Charge |
|
Short particulars
of the property charged |
Plot No. 115,
Umbergaon Industrial Area, Village Daheri, Taluka Umbergaon, District Valsad,
Gujarat, admn. 1,776 sq. meters, together with building and structures admn.
970.91 sq. meters thereon Plot No.72,
Industrial Area, Baddi, District Solan, Himachal Pradesh. |
|
Date of latest
modification prior to the present modification |
09/07/2012 |
|
Particulars of
the present modification |
Equitable
mortgage created on 25/06/2009 on Plot No.72 in Industrial Area, Baddi,
District Solan, Himachal Pradesh, to secure the credit facilities of
Rs.88.100 Millions is reduced to Rs.85.000 Millions. Also, the charge
of Rs.85.000 Millions further secured by equitable mortgage created on Plot
No. 115, Umbergaon Industrial Area, Village Daheri, Taluka Umbergaon,
District Valsad, Gujarat, admn. 1,776 sq. meters, together with building and
structures admn. 970.91 sq. meters thereon. |
FIXED ASSETS
· Computer
· Furniture and Fixture
· Plant and Machinery
· Motor Car
· Factory Building
· Toll and Dies
WEBSITE DETAILS:
Subject an associate company of the Nickunj Group came into being as a result of the demerger approved by the Honourable High Court at Mumbai vide its order dated 7th March 2008.
As a consequence, all the business pertaining to the erstwhile EDM Division of Nickunj Eximp Entp Private Limited now stands transferred to the new company with effect from 1st April 2007.
Subject owns a sprawling factory premises at Baddi, Himachal
Pradesh where a variety of EDM wires are produced on the State-of-The-Art
machineries catering to the requirement of the customers all over India.
Apart from wires, on offer are abrasives and polishing
stones, high quality fixtures, mills, tools and cleaning systems, Wire-cut and
Spark Drilling machines, coated EDM wires, fluids, mechanical spares and consumables
sourced from world renowned global giants.
HISTORY
|
1969 – 70 |
Genesis of Nickunj Enterprises named after the younger son who was to
carry on the mantle as a young aspiring entrepreneur. Venue – a nondescript garage
in Pydhonie. Products : crucibles, pipes etc. |
|
1976 |
The garage was converted into two offices and the premises where
located (6 garages + courtyard etc.) were bought and renamed Nikunj House. |
|
1978 |
The young scion formally joins the business to assist the father in
his expansion spree. |
|
1982 – 83 |
Agency business started with SMC Super Alloys and Fiber Materials Inc.
(FMI). |
|
1985 |
Adds “Graphite” to its product range by teaming with world renowned Japanese
and later on with Le Carbone Lorraine, France, world leaders in manufacturing
of graphite. This marks company’s entry into the arena of high tech
industrial products. |
|
1986 – 87 |
Nickunj Eximp Enterprises Private Limited (NEEPL), the flagship company
of the Nickunj Group is incorporated. |
|
1990 |
Operations moved to a single flat office at Sri Jorawar Bhavan, the
present Headquarters of the Nickunj Group. |
|
1998 |
Ventures into the field machine tools accessories by teaming up with six
new overseas principals, each one a leader in its own right. |
|
2000 |
Reorganized the business into separate business divisions to lend
focused approach and quick response to customers. |
|
2005 |
Acquired manufacturing unit at Baddi, Himachal Pradesh, the Group’s
first foray into manufacturing activity. |
|
2007 |
Manufacturing Unit commences commercial production. |
|
2008 |
15 Business Division strong and the march continues. |
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.52.21 |
|
UK Pound |
1 |
Rs.84.00 |
|
Euro |
1 |
Rs.67.67 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
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 |
4 |
|
--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 |
|
42 |
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.