MIRA
INFORM REPORT
|
Report Date : |
17.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
MOSIL LUBRICANTS PRIVATE LIMITED |
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Registered
Office : |
Plot 166/1,Kalanidhi, Sion (West), Mumbai - 400022, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
11.02.2000 |
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Com. Reg. No.: |
11-124177 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.301 Million |
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CIN No.: [Company Identification
No.] |
U23200MH2000PTC124177 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
The Company is engaged in the manufacturing business of Synthetic
Lubricants and Greases |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (49) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 200000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having a good track record. Financially
company is performing well. Trade relations are reported to be fair. Business
is active. Payments are reported to be regular and as per commitment. The company can be considered for normal business dealings at usual
trade terms and condition. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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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 |
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 Office : |
Plot 166/1,Kalanidhi, Sion (West), Mumbai - 400022,
Maharashtra, India |
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Tel. No.: |
91-22-24076680/ 66662250 |
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Fax No.: |
91-22-24075541 |
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E-Mail : |
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Website : |
DIRECTORS
As on: 29.09.2012
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Name : |
Mr. Abindra Chimanlal Mavani |
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Designation : |
Director |
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Address : |
39/401, Maryland Corner, Sion Circle, Sion (East), Mumbai – 400022, Maharashtra, India |
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Date of Birth/Age : |
28.09.1942 |
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Date of Appointment : |
11.02.2000 |
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DIN No.: |
00748780 |
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Name : |
Mr. Samvar Abindra Mavani |
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Designation : |
Director |
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Address : |
39/401, Maryland Corner, Sion Circle, Sion (East), Mumbai – 400022, Maharashtra, India |
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Date of Birth/Age : |
14.08.1973 |
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Date of Appointment : |
01.10.2001 |
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DIN No.: |
00779945 |
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Other Directorship:
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Name : |
Mrs. Bella Abindra Mavani |
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Designation : |
Director |
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Address : |
39/401, Maryland Corner, Sion Circle, Sion (East), Mumbai – 400022, Maharashtra, India |
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Date of Birth/Age : |
28.07.1943 |
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Date of Appointment : |
11.02.2000 |
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DIN No.: |
00748851 |
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Name : |
Mr. Shail Abindra Mavani |
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Designation : |
Director |
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Address : |
39/401, Maryland Corner, Sion Circle, Sion (East), Mumbai – 400022, Maharashtra, India |
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Date of Birth/Age : |
23.08.1975 |
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Date of Appointment : |
01.10.2001 |
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DIN No.: |
00748933 |
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Other Directorship:
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Name : |
Mr. Chimanlal Kasalchand Mavani |
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Designation : |
Director |
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Address : |
Plot No. 168/1, Pratap Bhuvan, Scheme Road No. 24B, Sion (West), Mumbai – 400022, Maharashtra, India |
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Date of Birth/Age : |
06.04.1914 |
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Date of Appointment : |
11.02.2000 |
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DIN No.: |
00748982 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 29.09.2012
|
Names of Shareholders |
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No. of Shares |
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Chimanlal Kasalchand Mavani |
|
9030 |
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Abindra Chimanlal Mavani |
|
10535 |
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Bella Abindra Mavani |
|
10535 |
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Total |
|
30100 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Company is engaged in the manufacturing business of Synthetic
Lubricants and Greases. |
PRODUCTION STATUS AS ON 31.03.2011
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Particulars |
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31.03.2011 |
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Installed
Capacity |
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300000 |
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Actual
Production |
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|
232070 |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
Not Available |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mehul Doshi and Company Chartered Accountant |
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Address : |
15/87, Shankar Villa, 2nd Floor, Sion (West), Mumbai – 400022,
Maharashtra, India |
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PAN.: |
ADWPD9020E |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
100000 |
Equity Shares |
Rs.10/- each |
Rs. 1.000 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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30100 |
Equity Shares |
Rs.10/- each |
Rs. 0.301 Million |
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(c)Terms and Rights
attached to shares
Equity Shares
The company has one class of equity shares having a par value of Rs.10 each. Each shareholder is eligible for one vote per share held
In the event of liquidation, the equity shareholders are eligible to receive the remaining asset of the company after distribution of all preferential amounts, in proportion to their shareholding
(d) Reconciliation of
No. of shares outstanding in the beginning and at the end of the year
|
Particulars |
No. of Shares |
Amount in Millions |
|
Equity Shares |
30100 |
0.301 |
|
Shares outstanding at the beginning of the year |
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|
Shares issued during the year |
- |
-. |
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Shares outstanding at the end of the year |
30100 |
0.301 |
(e) Details of
shareholders holding more than 5% of the aggregate Share Capital
|
Particulars |
No. of Shares |
% |
|
Abindra C. Mavani |
10535 |
35.00 |
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Bella A. Mavani |
10535 |
35.00 |
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Dr. C. K. Mavani |
9030 |
30.00 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.301 |
0.301 |
0.301 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
54.482 |
37.219 |
31.592 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
54.783 |
37.520 |
31.893 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
4.152 |
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TOTAL BORROWING |
0.000 |
0.000 |
4.152 |
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DEFERRED TAX LIABILITIES |
0.645 |
0.680 |
0.134 |
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TOTAL |
55.428 |
38.200 |
36.179 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
17.072 |
7.647 |
8.113 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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OTHER NON CURRENT ASSETS |
8.799 |
6.934 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
13.375
|
9.302 |
7.696 |
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Sundry Debtors |
21.332
|
14.102 |
10.776 |
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Cash & Bank Balances |
12.385
|
11.492 |
8.765 |
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Other Current Assets |
2.258
|
0.258 |
0.000 |
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Loans & Advances |
1.235
|
0.309 |
10.290 |
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Total
Current Assets |
50.585
|
35.463 |
37.527 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
9.306
|
4.351 |
9.461 |
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Other Current Liabilities |
0.908
|
0.596 |
0.000 |
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Provisions |
10.814
|
6.897 |
0.000 |
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Total
Current Liabilities |
21.028
|
11.844 |
9.461 |
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Net Current Assets |
29.557
|
23.619 |
28.066 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
55.428 |
38.200 |
36.179 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SALES |
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Income |
|
|
58.880 |
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Other Income |
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TOTAL |
107.709 |
74.492 |
58.880 |
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Less |
EXPENSES |
|
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Office Expenses |
|
|
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Administrative Expenses |
88.375 |
61.687 |
51.510 |
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Advertising Expenses |
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TOTAL |
88.375 |
61.687 |
51.510 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
19.334 |
12.805 |
7.370 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
1.397 |
1.096 |
1.104 |
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PROFIT BEFORE
TAX |
17.937 |
11.709 |
6.266 |
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Less |
TAX |
0.674 |
1.548 |
0.052 |
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PROFIT AFTER TAX
|
17.263 |
10.161 |
6.214 |
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EARNINGS IN
FOREIGN CURRENCY |
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F.O.B Value of Export |
23.679 |
1.587 |
0.152 |
|
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Other Earnings |
1.557 |
0.000 |
0.000 |
|
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TOTAL EARNINGS |
25.236 |
1.587 |
0.152 |
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IMPORTS |
|
|
|
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Raw Materials |
4.967 |
2.963 |
2.474 |
|
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Capital Goods |
0.594 |
0.000 |
0.000 |
|
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TOTAL IMPORTS |
5.561 |
2.963 |
2.474 |
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Earnings Per
Share (Rs.) |
573.52 |
337.57 |
206.43 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
16.03
|
13.64 |
10.55 |
|
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Return on Total Assets (PBT/Total Assets} |
(%) |
26.51
|
27.16 |
13.73 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.33
|
0.31 |
0.19 |
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Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.13 |
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|
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|
Current Ratio (Current Asset/Current Liability) |
|
2.41
|
2.99 |
3.97 |
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 |
No |
|
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 |
No |
|
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 |
WORKING OF THE
COMPANY AND FUTURE OUTLOOK:
During the year, the company was recognized as an In -House R and D unit by the Ministry of Science and Technology, Department of Scientific and Industrial Research, New Delhi 110016 on 28th November 2011.
The above recognition will give fillip to develop new greases, oils, aerosols and metal working fluids as well as green technology products. This will also result in getting tax benefits under section 35(2) of Income Tax Act and weighted deduction from the taxable profits.
With the growth of the Indian economy and also with the consumption of petroleum products likely to improve each year, the Company expects to better its financials in coming year. The Company is making the best possible efforts to increase its turnover
FIXED ASSETS
· Free Hold Land
· Lease Hold Land
· Building
· Plant and Machinery
· Furniture and Fixtures
· Vehicles
· Computers
· Dies
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
|
Report Prepared
by : |
UDS |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
--DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
49 |
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.