MIRA INFORM REPORT
|
Report Date : |
27.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
PAKONA ENGINEERS ( |
|
|
|
|
Registered
Office : |
1st Floor, Wadia Charities Building, 22/D, S A Brelvi Road, Fort, Mumbai – 400023, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
05.09.1986 |
|
|
|
|
Com. Reg. No.: |
11-040834 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 25.570 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29290MH1986PTC040834 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMP15032D / MUMP13133B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Packaging Machinery |
|
|
|
|
No. of Employees
: |
300 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (50) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1044000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a established company having satisfactory track record.
Financially company performance seems good. Trade relations are reported to be
fair. Business is active. Payments are reported to be regular and as per
commitments. The company can be considered for normal 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
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.
LOCATIONS
|
Registered Office/ Sales Office/ Head Office : |
1st Floor, Wadia Charities Building, 22/D, S A Brelvi Road, Fort, Mumbai – 400023, Maharashtra, India |
|
Tel. No.: |
91-22-22854138/22826751/22048660/ 22814990 |
|
Fax No.: |
91-22-22876171 |
|
Email: |
|
|
Website: |
|
|
|
|
|
Factory : |
971/3, G.I.D.C. Makarpura Industrial Estate, Baroda- 390010, Gujarat, India |
|
Tel. No.: |
91-265-2643889/2638225 |
|
Fax No.: |
91-265-2638520 |
|
Email: |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Ashok Jayantilal Kothari |
|
Designation : |
Managing Director |
|
Address : |
206, Panchsheel “C” Road, Churchgate, Mumbai- 400020, Maharashtra, India |
|
Date of Birth/Age : |
25.12.1943 |
|
Date of Appointment : |
01.04.2006 |
|
DIN No.: |
00124520 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U67120MH1987PTC045260 |
KOTHARI
TECHNICAL SERVICES PRIVATE LIMITED |
Director |
11-11-87 |
11-11-87 |
- |
Active |
NO |
|
2 |
U29199GJ1999PTC035771 |
KAPIS
ENGINEERS PRIVATE LIMITED |
Director |
13-04-99 |
13-04-99 |
- |
Active |
NO |
|
3 |
U29290MH2000NPL127775 |
INSTITUTE
OF PACKAGING MACHINERY MANUFACTURERS OF INDIA |
Director |
18-07-00 |
18-07-00 |
- |
Active |
NO |
|
4 |
U65990MH1941PTC003300 |
INDUSTRIAL
DEVELOPMENT AND INVESTMENT COMPANY PRIVATE LIMITED |
Director |
03-09-04 |
03-09-04 |
- |
Active |
NO |
|
5 |
U29290MH1986PTC040834 |
PAKONA
ENGINEERS (INDIA) PRIVATE LIMITED |
Managing
director |
01-04-06 |
01-04-06 |
- |
Active |
NO |
|
6 |
U29195MH2003PTC142977 |
TRIANGLE
MACHINES PRIVATE LIMITED |
Director |
26-02-07 |
26-02-07 |
- |
Amalgamated |
NO |
|
7 |
U74930MH2008FTC178932 |
COLUMBIA-PAKONA
ENGINEERING PRIVATE LIMITED |
Director |
15-02-08 |
15-02-08 |
- |
Active |
NO |
|
8 |
U45203MH2010PTC204156 |
OCEANMINT
DEVELOPERS PRIVATE LIMITED |
Director |
23-06-11 |
23-06-11 |
10-04-12 |
Active |
NO |
|
Name : |
Mr. Rohitkumar Jashwantlal Shah |
|
Designation : |
Whole Time Director |
|
Address : |
38/Green Park Society, Makarpura, Baroda-390010, Gujarat, India |
|
Date of Birth/Age : |
19.09.1955 |
|
Date of Appointment : |
06.05.1991 |
|
DIN No.: |
01142855 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name of the
Company/ LLP |
Current designation
of the Director/ Designated Partner |
Date of
appointment at current designation |
Original date of
appointment |
Company/ LLP
Status |
Defaulting
status |
|
1 |
U29290MH1986PTC040834 |
PAKONA ENGINEERS
(INDIA) PRIVATE LIMITED |
Whole-time director |
06-05-91 |
06-05-91 |
Active |
NO |
|
2 |
U29199GJ1999PTC035771 |
KAPIS ENGINEERS
PRIVATE LIMITED |
Director |
13-04-99 |
13-04-99 |
Active |
NO |
|
3 |
U29199GJ2002PTC041773 |
PAKONA
MAINTENANCE SERVICES PRIVATE LIMITED |
Director |
30-12-02 |
30-12-02 |
Active |
NO |
|
4 |
U29195MH2003PTC142977 |
TRIANGLE
MACHINES PRIVATE LIMITED |
Director |
04-11-03 |
04-11-03 |
Amalgamated |
NO |
|
5 |
U36941GJ1988PTC011573 |
FLEXELL COMPUTER
FORMS PRIVATE LIMITED |
Managing
director |
30-11-06 |
30-11-06 |
Active |
|
Name : |
Mr. Rahul Ashok Kothari |
|
Designation : |
Whole Time Director |
|
Address : |
206, Panchsheel “C” Road, Churchgate, Mumbai- 400020, Maharashtra, India |
|
Date of Birth/Age : |
28.09.1975 |
|
Date of Appointment : |
01.04.2006 |
|
DIN No.: |
00124557 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U29199GJ2002PTC041773 |
PAKONA
MAINTENANCE SERVICES PRIVATE LIMITED |
Director |
30-12-02 |
30-12-02 |
- |
Active |
NO |
|
2 |
U29195MH2003PTC142977 |
TRIANGLE
MACHINES PRIVATE LIMITED |
Director |
04-11-03 |
04-11-03 |
- |
Amalgamated |
NO |
|
3 |
U29290MH1986PTC040834 |
PAKONA
ENGINEERS (INDIA) PRIVATE LIMITED |
Whole-time
director |
01-04-06 |
01-04-06 |
- |
Active |
NO |
|
4 |
U74930MH2008FTC178932 |
COLUMBIA-PAKONA
ENGINEERING PRIVATE LIMITED |
Director |
15-02-08 |
15-02-08 |
- |
Active |
NO |
|
5 |
U70109MH2010PTC202505 |
DELIGHT
PROPERTIES PRIVATE LIMITED |
Director |
08-05-10 |
08-05-10 |
- |
Active |
NO |
|
6 |
U67120MH1987PTC045260 |
KOTHARI
TECHNICAL SERVICES PRIVATE LIMITED |
Director |
19-07-10 |
19-07-10 |
- |
Active |
NO |
|
7 |
U45203MH2010PTC204156 |
OCEANMINT
DEVELOPERS PRIVATE LIMITED |
Director |
23-06-11 |
23-06-11 |
10-04-12 |
Active |
NO |
|
Name : |
Ms. Rekha Ashok Kothari |
|
Designation : |
Whole Time Director |
|
Address : |
206, Panchsheel “C” Road, Churchgate, Mumbai- 400020, Maharashtra, India |
|
Date of Birth/Age : |
10.09.1945 |
|
Date of Appointment : |
01.04.2006 |
|
DIN No.: |
00124575 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Company/
LLP Status |
Defaulting
status |
|
1 |
U67120MH1987PTC045260 |
KOTHARI
TECHNICAL SERVICES PRIVATE LIMITED |
Director |
11-08-99 |
11-08-99 |
Active |
NO |
|
2 |
U29290MH1986PTC040834 |
PAKONA
ENGINEERS (INDIA) PRIVATE LIMITED |
Whole-time
director |
01-04-06 |
01-04-06 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
Note: Shareholder
details file attach.
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
77.00 |
|
Other top fifty shareholders |
23.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Packaging Machinery |
||||||
|
|
|
||||||
|
Products : |
|
PRODUCTION STATUS (AS ON : 31.03.2010)
|
Particulars |
Unit |
Actual
Production |
|
Packaging Machines and Accessories, Spares |
No |
1209 |
|
Concrete Block Making Machines and Accessories, Spares |
No |
18357 |
GENERAL INFORMATION
|
No. of Employees : |
300 (Approximately) |
||||||||||||||||||||||||
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|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Ketan Shantilal Jhaveri Chartered Accountants |
|
Address : |
02nd Floor, |
|
Tel. No.: |
91-22-22662968 |
|
Fax No.: |
91-22-56318367 |
|
PAN No.: |
AADPJ0906D |
|
|
|
|
Subsidiaries : |
Pakona Engineers FZE |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.100/- each |
Rs. 50.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
255700 |
Equity Shares |
Rs.100/-
each |
Rs. 25.570
Millions |
|
|
|
|
|
NOTES
a)
12500 Shares out of the
Issued, Subscribed and Paid up Share Capital were allotted in the last five
years pursuant to the various Schemes of Amalgamation without payments being
received being received in cash.
b)
Details of Shareholders
holding more than 5% shares in the Company:
|
Name of the
shareholders |
No of Equity
Shares |
|
Ashok Kothari |
119,247 |
|
|
46.64% |
|
Rekha Kothari |
32708 |
|
|
12.79% |
|
Rahul Kothari |
15748 |
|
|
6.16% |
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 |
|
25.570 |
25.570 |
|
(b) Reserves & Surplus |
|
235.540 |
173.398 |
|
(c) Money
received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
|
261.110 |
198.968 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
|
6.818 |
10.709 |
|
(b) Deferred tax liabilities (Net) |
|
9.666 |
9.450 |
|
(c) Other long term
liabilities |
|
0.000 |
0.000 |
|
(d) long-term
provisions |
|
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
|
16.484 |
20.159 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
|
133.039 |
87.388 |
|
(b) Trade payables |
|
32.842 |
55.972 |
|
(c) Other current liabilities |
|
59.159 |
69.007 |
|
(d) Short-term
provisions |
|
22.157 |
44.351 |
|
Total Current
Liabilities (4) |
|
247.197 |
256.718 |
|
|
|
|
|
|
TOTAL |
|
524.791 |
475.845 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
164.434 |
135.987 |
|
(ii) Intangible Assets |
|
1.984 |
3.111 |
|
(iii) Capital
work-in-progress |
|
7.865 |
11.366 |
|
(iv)
Intangible assets under development |
|
1.208 |
0.000 |
|
(b) Non-current Investments |
|
25.757 |
25.757 |
|
(c) Deferred tax assets (net) |
|
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
|
19.039 |
12.625 |
|
(e) Other
Non-current assets |
|
0.000 |
0.000 |
|
Total Non-Current
Assets |
|
220.287 |
188.846 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
0.000 |
0.000 |
|
(b) Inventories |
|
189.943 |
168.979 |
|
(c) Trade receivables |
|
84.726 |
60.461 |
|
(d) Cash and cash
equivalents |
|
10.614 |
45.219 |
|
(e) Short-term loans
and advances |
|
19.214 |
12.214 |
|
(f) Other current
assets |
|
0.007 |
0.126 |
|
Total Current Assets |
|
304.504 |
286.999 |
|
|
|
|
|
|
TOTAL |
|
524.791 |
475.845 |
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
25.530 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
129.394 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
154.924 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
72.976 |
|
|
2] Unsecured Loans |
|
|
38.885 |
|
|
TOTAL BORROWING |
|
|
111.861 |
|
|
DEFERRED TAX LIABILITIES |
|
|
7.625 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
274.410 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
113.384 |
|
|
Capital work-in-progress |
|
|
0.218 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
25.757 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
132.420 |
|
|
Sundry Debtors |
|
|
83.349 |
|
|
Cash & Bank Balances |
|
|
50.675 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
17.619 |
|
Total
Current Assets |
|
|
284.063 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
50.705 |
|
|
Other Current Liabilities |
|
|
71.503 |
|
|
Provisions |
|
|
26.804 |
|
Total
Current Liabilities |
|
|
149.012 |
|
|
Net Current Assets |
|
|
135.051 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
274.410 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from Operations |
684.474 |
591.443 |
551.557 |
|
|
|
Other Operational Income |
NA |
NA |
1.972 |
|
|
|
Other Income |
NA |
NA |
9.309 |
|
|
|
TOTAL (A) |
NA |
NA |
562.838 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Material and Manufacturing Expenses |
NA |
NA |
293.881 |
|
|
|
Employees Emoluments |
|
|
79.796 |
|
|
|
Selling, Distribution, Administrative and Other Expenses |
|
|
73.528 |
|
|
|
TOTAL (B) |
NA |
NA |
447.205 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
128.039 |
136.432 |
115.633 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
9.517 |
8.534 |
8.536 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
118.522 |
127.898 |
107.097 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.939 |
7.641 |
6.627 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
108.583 |
120.257 |
100.470 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
34.511 |
40.618 |
34.631 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
74.072 |
79.639 |
65.839 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1.844 |
7.839 |
7.389 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
50.000 |
50.000 |
30.000 |
|
|
|
Proposed Dividend |
10.228 |
30.660 |
30.315 |
|
|
|
Tax on Proposed Dividend |
1.659 |
4.974 |
5.074 |
|
|
BALANCE CARRIED
TO THE B/S |
14.029 |
1.844 |
7.839 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
NA |
NA |
267.575 |
|
|
|
Engineering and Technical Services |
NA |
NA |
0.571 |
|
|
TOTAL EARNINGS |
NA |
NA |
268.146 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Brought out Component |
NA |
NA |
36.055 |
|
|
TOTAL IMPORTS |
NA |
NA |
36.055 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
289.68 |
311.70 |
260.66 |
|
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%20PRIVATE%20LIMITED%20-%20226977%2027-Jun-2013_files/image002.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
NA |
11.70 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
15.86
|
20.33 |
18.22 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
22.16
|
27.41 |
25.28 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.42
|
0.60 |
0.65 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.54
|
0.49 |
0.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.23
|
1.12 |
1.91 |
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 |
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) |
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 Loan |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Short Term
Borrowings |
|
|
|
Loans from Related Parties |
35.125 |
34.520 |
|
Loans from Other Parties |
15.610 |
13.360 |
|
|
|
|
|
TOTAL |
50.735 |
47.880 |
OPERATIONS
During the year, there had been smooth operations throughout the year.
The company’s Revenue from Operations increased by 15.73% from Rs. 591.443 Millions
to Rs. 684.474 Millions, however profit before Taxation has decreased from Rs.
120.257 Millions to Rs. 108.583 Millions.
The company’s pipe making machine division at Savli saw some successful
installations absorbing the technology of M/s. Mario Croci E Figli S.R.L Italy.
The company had smooth transformation of technical data from them.
Sluggish economic conditions coupled with depreciation in value of Rupee
against US Dollar, resulted in substantial drop in orders on hand as well as
increased the cost of imported bought out components.
The company has taken various steps to reduce cost and improve
profitability. The company continues to focus on new development in Original
Equipment and Export market to enhance capacity utilization to have overall
cost competitive position in market.
FORM 8
|
Corporate
identity number of the company |
U29290MH1986PTC040834 |
|
Name of the
company |
PAKONA ENGINEERS
(INDIA) PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
01st Floor,
Wadiacharities Building, 22/D S A Brelvi Road, Mumbai-400023, Maharashtra,
India |
|
This form is for |
Creation of
charge |
|
Type of charge |
|
|
Particular of
charge holder |
Citi Bank N.A., Trent House, 2nd Floor, G Block, Plot No.
C-60, Bandra Kurla Complex, Bandra (East), Mumbai-400051, Maharashtra, India |
|
Nature of
instrument creating charge |
Memorandum Of
Entry. |
|
Date of
instrument Creating the charge |
24.09.2012 |
|
Amount secured by
the charge |
Rs. 147.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest as may
be stipulated by the bank from time to time. Terms of repayment On Demand. Margin As may be
stipulated by the Bank from time to time. Extent and operation of the charge The Company
created mortgage by deposit of title deeds with the Bank in respect of
immovable properties as security for repayment of its Credit facility of Rs.147.500
Millions, together with interest, additional interest, liquidated damages,
commitment charges, premia on repayment or on redemption, costs, expenses and
other monies due and payable by the Company to the Citibank N.A. |
|
Short particulars
of the property charged (Including location of the property) |
Land and Building
on Immovable property situated at 917/2 and 917/3, GIDC, Makarpura Industrial
Estate, Baroda-390010. Land and Building
on Immovable property situated at Unit No. 101 and 108, 1st Floor, Wadia
Building, Fort, Mumbai-400023. Land and Building
on Immovable property situated at A-1/901/7, GIDC, Makarpura Industrial
Estate, Baroda. |
FIXED ASSETS
- Land
- Factory Building
- Plant and Machinery
- Electrical Installation
- Furniture and Fixture
- Office equipments
- Patterns
- Office Premises
- Computer
- Vehicles
- Technical Know – how
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. 59.85 |
|
|
1 |
Rs. 92.30 |
|
Euro |
1 |
Rs. 78.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
DPT |
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 |
6 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
50 |
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.