|
Report Date : |
28.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
TITAN CRUSHING MACHINERY PRIVATE LIMITED |
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Registered
Office : |
D-2222/36, M.I.D.C. Shirwane, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
13.05.2010 |
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Com. Reg. No.: |
11-203163 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U29100MH2010PTC203163 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Stone Crusher Machinery |
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No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 12000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject was established as a partnership concern during 2007 by the
name ‘Titan Engineering Work’ and during 2010, the subject got converted into
a private limited company with the present name. The management has failed to file its financials with the government
department since 2011. Mr. Sunil Baliya from Accounts Department has provided all information
but the financials are not verified. As per available (Balance Sheet) of 2011, there appeared huge external
borrowings. However, trade relations are reported as fair. Business is active.
Payment terms are unknown. The company can be considered for business dealings with great
caution. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
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 : |
Mr. Sunil |
|
Designation : |
Account Officer |
|
Contact No.: |
91-8108844498 |
|
Date : |
27.06.2013 |
LOCATIONS
|
Registered Office : |
D-2222/36, M.I.D.C. Shirwane, Thene Belapur Road, Nerul, Navi Mumbai –
400706, Maharashtra, India |
|
Tel. No.: |
91-22-27684040 / 2763 2996 |
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Mobile No.: |
91-8108844498 (Mr. Sunil) |
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Fax No.: |
91-22-27684040 |
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E-Mail : |
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Website : |
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Factory : |
Survey No. 131/9-14 and 13, Karade Khurd, Patalganga, Rasayani, Taluka Panvel, District: Raigad - 410206. Maharashtra, India. |
|
Tel. No.: |
91-2192-250150 |
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Fax No.: |
91-2192-254150 |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Vishvaroop Upendra Anand |
|
Designation : |
Director |
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Date of Appointment : |
13.05.2010 |
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DIN No.: |
02572438 |
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|
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|
Name : |
Mrs. Nalini Anand |
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Designation : |
Director |
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Date of Birth/Age : |
12.05.1944 |
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Date of Appointment : |
13.05.2010 |
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DIN No.: |
02915280 |
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Name : |
Mrs. Nameeta Vishvaroop Anand |
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Designation : |
Director |
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Address : |
22, Vishwak, Artek Apratments, MK Marg, Bandra (East), Mumbai –
400051, Maharashtra, India |
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Date of Birth/Age : |
07.07.1973 |
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Date of Appointment : |
26.06.2010 |
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DIN No.: |
02572452 |
KEY EXECUTIVES
|
Name : |
Mr. Sunil |
|
Designation : |
Account Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.04.2010
|
Names of Shareholders |
|
No. of Shares |
|
Vishvaroop Upendra Anand |
|
5100 |
|
Nalini Anand |
|
2450 |
|
Bihary Anand |
|
2449 |
|
Sachin Kulkarni |
|
1 |
|
Total |
|
10000 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Stone Crusher Machinery |
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Exports : |
|
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Products : |
Stone Crusher Machinery |
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Countries : |
·
South Africa ·
Nepal ·
Sri Lanka |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
GENERAL INFORMATION
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Customers : |
End Users and OEM’s |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
State Bank of India, Bandra (East), Mumbai, Maharashtra, India |
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Banking
Relations : |
--- |
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Auditors : |
|
|
Name : |
M.D. Barot Associates Chartered Accountants |
|
Address : |
406, Ratan Galaxie, Jawahar Lal Nehru Road, Mulund (West), Mumbai –
400080, Maharashtra, India |
|
PAN No.: |
AADPB2473P |
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 |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.100 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
3.028 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
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NETWORTH |
|
|
3.128 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
9.092 |
|
|
2] Unsecured Loans |
|
|
18.059 |
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|
TOTAL BORROWING |
|
|
27.151 |
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DEFERRED TAX LIABILITIES |
|
|
0.000 |
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|
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TOTAL |
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|
30.279 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
|
55.843 |
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Capital work-in-progress |
|
|
0.000 |
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|
|
|
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INVESTMENT |
|
|
0.641 |
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DEFERREX TAX ASSETS |
|
|
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
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|
Inventories |
|
|
58.010 |
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Sundry Debtors |
|
|
35.482 |
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Cash & Bank Balances |
|
|
23.224 |
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Other Current Assets |
|
|
0.000 |
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Loans & Advances |
|
|
14.007 |
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Total
Current Assets |
|
|
130.723 |
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|
Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
|
|
98.171 |
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Other Current Liabilities |
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|
57.440 |
|
|
Provisions |
|
|
1.352 |
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Total
Current Liabilities |
|
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156.963 |
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Net Current Assets |
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|
(26.240) |
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MISCELLANEOUS EXPENSES |
|
|
0.035 |
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|
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TOTAL |
|
|
30.279 |
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PROFIT & LOSS
ACCOUNT
|
Particulars |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Sales Turnover (Approximately) |
360.000 |
320.000 |
300.000 |
Expected Sales (2013-14) : Rs.400.000 Millions
The above information has been parted by Mr. Sunil
KEY RATIOS
|
PARTICULARS |
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|
31.03.2011 |
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Debt Equity Ratio (Total Debt /Networth) |
|
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|
8.68 |
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Current Ratio (Current Asset/Current Liability) |
|
|
|
0.83 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITOR
Rs.
In Millions
|
Particular |
|
|
31.03.2011 |
|
|
|
|
|
|
Sundry Creditors |
|
|
98.171 |
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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 |
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5] |
Type of Business |
Yes |
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6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
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8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
No |
|
13] |
Reasons for variation <> 20% |
---------------------- |
|
14] |
Estimation for coming financial year |
Yes |
|
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 |
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 |
No |
|
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 to Vishak
Artek Apartments, Kalanagar, M. K, Marg, Bandra (West), Mumbai – 400051,
Maharashtra, India present address w.e.f. 19.12.2011
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 records 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.60.59 |
|
|
1 |
Rs.92.92 |
|
Euro |
1 |
Rs.78.94 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
26 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.