MIRA
INFORM REPORT
|
Report Date : |
17.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
AMKAY PRODUCTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
B/15, 2nd Floor, Labella Society, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
25.10.2007 |
|
|
|
|
Com. Reg. No.: |
11-175403 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1.335 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51397MH2007PTC175403 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMA35092B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAGCA6560N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Medical Disposable Products. |
|
|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 12000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. Trade
relations are fair. Business is active. Payments are reported to be slow but
correct. The company can be considered for business dealings with some caution. |
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 : |
Ms Saju |
|
Designation : |
Marketing Department |
|
Contact No.: |
91-22-61317600 |
|
Date : |
01.04.2013 |
LOCATIONS
|
Registered Office : |
B/15, 2nd Floor, Labella Society, |
|
Tel. No.: |
91-22-613760/62317600 (100 Lines) |
|
Fax No.: |
91-22-26836188/26845524 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
27 Acchad Industries Estate, Village Acchad, Taluka Talasari-401606,
Dist Thane, |
|
Location : |
Owned |
DIRECTORS
As on : 29.09.2012
|
Name : |
Mr. Pravinchandra Vrajlal Mody |
|
Designation : |
Director |
|
Address : |
605, P.K. Niwas, 6th Floor, S.V.Road, Vile Parle West,
Mumbai- 400056, |
|
Date of Birth/Age : |
30.05.1947 |
|
Experience : |
Under Graduate |
|
Date of Appointment : |
25.10.2007 |
|
DIN No.: |
01185865 |
|
|
|
|
Name : |
Mr. Kashyap Pravinchandra Mody |
|
Designation : |
Managing Director |
|
Address : |
605, P.K. Niwas, 6th Floor, S.V.Road, Vile Parle West, Mumbai-
400056, |
|
Date of Birth/Age : |
23.03.1972 |
|
Experience : |
Graduate |
|
Date of Appointment : |
25.10.2007 |
|
DIN No.: |
01717036 |
|
|
|
|
Name : |
Mr. Hemanshu Batavia Kantilal |
|
Designation : |
Director |
|
Address : |
C-31, Kailash Nagar, |
|
Date of Birth/Age : |
28.10.1975 |
|
Date of Appointment : |
12.01.2011 |
|
DIN No.: |
05118012 |
|
|
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on : 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Pravinchandra Vrajlal Mody |
500 |
|
Kashyap Pravinchandra Mody |
9500 |
|
Hemanshu Batavia kantilal |
3350 |
|
Total |
13350 |
Equity
Share Break up (Percentage of Total Equity)
As on : 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.93 |
|
Other top fifty shareholders |
0.07 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Medical Disposable Products. |
|
|
|
|
Products : |
|
|
|
|
|
Exports : |
|
|
Products : |
Medical Disposable Products |
|
Countries : |
Europe, US, |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
|
GENERAL INFORMATION
|
Customers : |
End Users |
|
|
|
|
No. of Employees : |
100 (Approximately) |
|
|
|
|
Bankers : |
Union Bank of India, Andheri East Branch, Mayani Manor, Sir M.V Road, Andheri
(East), Mumbai, Maharashtra, India |
|
|
|
|
Facilities : |
-- |
|
Auditors : |
|
|
Name : |
Mr. Paresh Bhawarlal Rawal Chartered Accountant |
|
Address : |
Satya Niwas, 1/16, B.S. Road, Near Gajanan Book Depot, Dadar West, Mumbai-
400028, Maharashtra, India. |
|
Tel. No.: |
91-22-65259656/ 24211180 |
|
Fax No.: |
91-22-24211180 |
|
E-Mail : |
|
|
PAN No.: |
AEJPR1818J |
CAPITAL STRUCTURE
As on : 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20000 |
Equity Shares |
Rs. 100/-each |
Rs. 2.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
13359 |
Equity Shares |
Rs. 100/-each |
Rs. 1.335 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1.335 |
1.335 |
1.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1.838 |
1.116 |
0.500 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3.173 |
2.451 |
1.500 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
6.577 |
1.051 |
2.550 |
|
|
TOTAL BORROWING |
6.577 |
1.051 |
2.550 |
|
|
DEFERRED TAX LIABILITIES |
0.066 |
0.049 |
0.035 |
|
|
|
|
|
|
|
|
TOTAL |
9.816 |
3.551 |
4.085 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2.326 |
1.418 |
1.554 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.850 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1.481
|
2.471
|
1.083
|
|
|
Sundry Debtors |
12.067
|
14.070
|
8.146
|
|
|
Cash & Bank Balances |
3.173
|
1.644
|
0.892
|
|
|
Other Current Assets |
0.800
|
0.532
|
0.259
|
|
|
Loans & Advances |
0.000
|
0.227
|
0.064
|
|
Total
Current Assets |
17.521
|
18.944 |
10.444 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
9.667
|
|
7.425
|
|
|
Other Current Liabilities |
0.000
|
|
0.413
|
|
|
Provisions |
1.214
|
0.357
|
0.091
|
|
Total
Current Liabilities |
10.881
|
16.824 |
7.929 |
|
|
Net Current Assets |
6.640
|
2.120
|
2.515 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.013 |
0.016 |
|
|
|
|
|
|
|
|
TOTAL |
9.816 |
3.551 |
4.085 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
REVENUE |
79.611 |
59.191 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
NA |
0.385 |
0.266 |
|
|
|
|
|
|
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.07
|
0.42 |
1.70 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.61
|
1.13 |
1.32 |
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
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 |
No |
|
18] |
Major customers |
No |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
Yes |
|
21] |
Market information |
------------------- |
|
22] |
Litigations that the firm
/ promoter involved in |
------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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 |
No |
NOTE:
The registered office of the company has been shifted from
605, P.K. Niwas,
UNSECURED LOAN :
Rs
in Millions
|
Particular |
As on 31.03.2012 |
As on 31.03.2011 |
|
Long term
Borrowings others |
|
|
|
Bharat Sukanraj
Jain- HUF |
0.600 |
-- |
|
HDFC Bank |
0.262 |
-- |
|
Mind Space
Valuation infra Pvt. Ltd |
0.300 |
0.300 |
|
N. P Mody |
0.250 |
0.250 |
|
Gulabchand Jain |
0.750 |
-- |
|
Chheda - HUF |
0.600 |
-- |
|
Mukesh
Solanki-HUF |
0.700 |
-- |
|
Sanjay Jain |
0.340 |
-- |
|
TATA Capital LTD |
-- |
0.500 |
|
Anit B Lodha |
0.750 |
-- |
|
Hastimal Solanki
HUF |
0.850 |
-- |
|
Lalji Sharma |
0.600 |
-- |
|
Nandlal Gohil |
0.575 |
-- |
|
Total |
6.577 |
1.050 |
Bankers Charges Report as per Registry :
|
Corporate
identity number of the company |
U51397MH2007PTC175403 |
|
Name of the
company |
AMKAY PRODUCTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
B/15, 2nd Floor, Labella Society, Email : info@amkayproducts.com
|
|
This form is for |
Creation of
Charge |
|
Type of charge |
·
Book
Debts ·
Movable
Property |
|
Particular of
charge holder |
Union Bank of Email : cbsandheri@unionbankofindia.com
|
|
Nature of
instrument creating charge |
Hypothecation Agreement
of Goods & Debts |
|
Date of
instrument Creating the charge |
29.06.2012 |
|
Rs. 2.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest: Base
Rate+4.50%+0.50% per annum with monthly rests or at such other revised rate/s
as may be prescribed by the Bank from time to time Terms of repayment: On Demand Margin : As per sanction
terms Extend and operation of the charge: To secure Cash Credit
(Hypothecation) facility of Rs.250.000 Millions granted by the Bank to the
Company |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
The Borrower hereby
Hypothecates by way of First Charge in favour of the Bank 1. Stocks which
expression shall include All Raw Materials, Semi Finished and Finished Goods,
Consumable Stores Spares and Movable Property of any kind now or at any time
hereafter belonging to or at the disposal of the Borrower and which are now
stored or being stored or which hereafter may from time to time be brought
into or stored or be in or about the Borrower's premises or godown/s at
Nirman Industrial Estate, Sativali Industrial Estate, Vasai and Dhuri
Industrial Estate Vasai (E) and at other places hired by the Borrower for the
purposes of storage whatsoever at or at any other place in the Union of India
and all other places of storage whatsoever at or at any other place in the
Union of India or wherever else they may be The Borrower's Book-debts,
Outstandings, Monies, deposits, Recievables Claims and bills Contracts
Securiteis Investments which are now due and owing or which may at any time
hereafter during the continuance of this security becoming due and owing to the Borrower in the course of
its business by any person or party including any Government or any local or
public body or authority (all of which are hereinafter collectively referred
to as "the said debts") |
Fixed Assets:
- Air
Conditioner – LG
- Barcode
Printer
- Computer
- EPBAX
- F. F Filling
Machine
- FFS Machine
- Plant and
Machinery
- Printer
- Refrigerator
- Weighing
Machine
- T V
- Weighing
Machine
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. 54.33 |
|
|
1 |
Rs. 83.17 |
|
Euro |
1 |
Rs. 71.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
|
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
|
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
28 |
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.