|
Report Date : |
17.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
ELECTRO PLASMA EQUIPMENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Unit 104 A, Off I B Patel Road, Western Express Highway, Goregaon
(East), Mumbai – 400063, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
24.06.1994 |
|
|
|
|
Com. Reg. No.: |
11-79177 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.275 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999MH1994PTC079177 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUME05122F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACE8616R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers,
Exporters, and Traders of all types of Plasma Cutting Machines, CNC Plasma Cutting Systems, Plasma Welding Machines, Portable Welding
Inverters, Air Plasma Cutting Machines, and Allied Products. |
|
|
|
|
No. of Employees
: |
20 (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 a moderate track record.
Profitability of the company appears to be low. However, trade relations are reported
as 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
INFORMATION PARTED BY (General Details)
|
Name : |
Mr. Mangesh Karnik |
|
Designation : |
Director |
|
Contact No.: |
91-9820157828 |
|
Date : |
13.06.2013 |
LOCATIONS
|
Registered Office : |
Unit 104 A, Off I B Patel Road, Western Express Highway, Goregaon
East, Mumbai - 400063, Maharashtra, India |
|
Tel. No.: |
91-22-40203456/ 26865065/ 26862843/ 93/ 26862893 |
|
Mobile No.: |
91-9820157828 (Mr. Mangesh Karnik) |
|
Fax No.: |
91-22-28741485/ 6862893/ 26862843 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
11/B, Veermani Industrial Estate, Navghar, Vasai (East), Thane,
Maharashtra, India |
DIRECTORS
(AS ON 31.03.2012)
|
Name : |
Mr. Mukund Madhav Pradhan |
|
Designation : |
Director |
|
Address : |
Shantikunj, B 17 Radhakrishna Cross Road, Andheri (East), Mumbai -
400069, Maharashtra, India |
|
Date of Birth/Age : |
09.10.1958 |
|
Date of Appointment : |
24.06.1994 |
|
DIN No.: |
01536635 |
|
|
|
|
Name : |
Mr. Mangesh Sacchidanand Karnik |
|
Designation : |
Director |
|
Address : |
301, Madhuban, Pandurang Wadi, Goregaon (East), Mumbai – 400063,
Maharashtra, India |
|
Date of Birth/Age : |
18.02.1965 |
|
Date of Appointment : |
24.06.1994 |
|
DIN No.: |
01536576 |
|
|
|
|
Name : |
Mr. Sandeep Shashikant Nagale |
|
Designation : |
Director |
|
Address : |
59,Shrinivas,Charkop, Sector-7, Kandivali (West), Mumbai – 400067,
Maharashtra, India |
|
Date of Birth/Age : |
20.06.1966 |
|
Date of Appointment : |
24.06.1994 |
|
DIN No.: |
01198839 |
|
|
|
|
Name : |
Mr. Shailesh Karnik |
|
Designation : |
Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 29.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Mukund Madhav Pradhan |
|
6875 |
|
Mangesh Sacchidanand Karnik |
|
6875 |
|
Sandeep Shashikant Nagle |
|
6875 |
|
Madhavi S Karnik |
|
4810 |
|
Ramesh N Kulkarni |
|
2065 |
|
|
|
|
|
Total |
|
27500 |
(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 : |
Manufacturers,
Exporters, and Traders of all types of Plasma Cutting Machines, CNC Plasma Cutting Systems, Plasma Welding Machines, Portable Welding
Inverters, Air Plasma Cutting Machines, and Allied Products. |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
China |
|
|
|
|
Terms : |
|
|
Selling : |
L/C |
|
|
|
|
Purchasing : |
L/C |
GENERAL INFORMATION
|
Customers : |
End Users |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
No. of Employees : |
20 (Approximately) |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
·
Bank of Maharashtra Sarthak Co-Operative Housing Society Limited, Mungenkar Apartment,
Main Aarey Road, Goregaon (East), Mumbai – 400062, Maharashtra, India ·
Janakalayan Shakari Bank Limited 140, Vivek Darshan Sindhi Society, Opposite Bhakti Bhavcan, Chembur,
Bombay, Maharashtra, India ·
HDFC Bank |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
V G Kamat and Associates Chartered Accountants |
|
Address 1: |
Commercial Block 1, Shree Sai Samarth Apartment, Gogate Wadi, Goregaon
(East), Mumbai - 400063, Maharashtra,
India |
|
Address 2: |
10, Khanna, Pandurang Wadi, Goregaon (East), Mumbai – 400063,
Maharashtra, India |
|
Tel No.: |
91-22-29276151 |
|
PAN No.: |
AADPK3175D |
|
|
|
|
Memberships : |
Bombay Chamber of Commerce |
CAPITAL STRUCTURE
(AS ON 31.03.2012)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
27500 |
Equity Shares |
Rs.10/- each |
Rs.0.275
million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
|
0.275 |
0.275 |
|
(b) Reserves & Surplus |
|
2.742 |
1.876 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
3.017 |
2.151 |
|
(2)
Share Application money pending allotment |
|
0.000 |
0.000 |
|
|
|
|
|
|
(3) Non-current liabilities |
|
|
|
|
(a) long-term borrowings |
|
1.713 |
2.074 |
|
(b) Deferred tax liabilities (Net) |
|
0.097 |
0.087 |
|
(c) Other long term liabilities |
|
0.000 |
0.000 |
|
(d) long-term provisions |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a) Short term borrowings |
|
3.084 |
5.026 |
|
(b) Trade payables |
|
2.993 |
3.455 |
|
(c) Other current
liabilities |
|
0.000 |
0.000 |
|
(d) Short-term provisions |
|
2.274 |
1.242 |
|
TOTAL |
|
13.178 |
14.035 |
|
|
|
|
|
|
II. ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
1.886 |
1.996 |
|
(ii) Intangible Assets |
|
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible
assets under development |
|
0.000 |
0.000 |
|
(b) Non-current Investments |
|
0.047 |
0.047 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
0.831 |
0.955 |
|
(e) Other Non-current assets |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
7.607 |
7.619 |
|
(c) Trade receivables |
|
1.363 |
1.851 |
|
(d) Cash and cash
equivalents |
|
0.018 |
0.027 |
|
(e) Short-term loans and
advances |
|
1.426 |
1.540 |
|
(f) Other current assets |
|
0.000 |
0.000 |
|
TOTAL |
|
13.178 |
14.035 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.275 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
1.469 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1.744 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
2.323 |
|
|
2] Unsecured Loans |
|
|
0.825 |
|
|
TOTAL BORROWING |
|
|
3.148 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.101 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
4.993 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
2.330 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.029 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
4.396
|
|
|
Sundry Debtors |
|
|
1.633
|
|
|
Cash & Bank Balances |
|
|
0.306
|
|
|
Other Current Assets |
|
|
0.321
|
|
|
Loans & Advances |
|
|
1.482
|
|
Total
Current Assets |
|
|
8.138 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
|
|
4.069
|
|
|
Other Current Liabilities |
|
|
0.614
|
|
|
Provisions |
|
|
0.821
|
|
Total
Current Liabilities |
|
|
5.504 |
|
|
Net Current Assets |
|
|
2.634 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
4.993 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
NA |
14.574 |
|
|
|
Other Income |
NA |
NA |
0.196 |
|
|
|
TOTAL |
NA |
NA |
14.770 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
NA |
13.817 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1.670 |
NA |
0.953 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.418 |
0.437 |
0.503 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1.252 |
NA |
0.449 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.387 |
NA |
0.153 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.865 |
0.407 |
0.296 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
31.62 |
14.82 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
NA
|
2.00 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA
|
3.08 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.53
|
NA |
3.21 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.41
|
NA |
0.26 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.59
|
3.30 |
1.81 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25
|
1.14 |
1.48 |
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 one 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 |
Yes |
|
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 |
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 |
No |
UNSECURED LOANS
|
Particulars |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
LONG TERM
BORROWINGS |
|
|
|
From Related Parties |
1.713 |
2.074 |
|
|
|
|
|
Total |
1.713 |
2.074 |
FIXED ASSETS:
· Plant and Machinery
· Furniture and Fixture
· Air Conditioner
· Computer
· Premises
· Office Equipments
· Motor Car
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.57.74 |
|
|
1 |
Rs.90.64 |
|
Euro |
1 |
Rs.77.02 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYN |
|
|
|
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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.