1. Summary Information
|
Country |
India |
||
|
Company Name |
M AND B
ENGINEERING LIMITED |
Principal Name 1 |
Mr. Manibhai Shivabhai Patel |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Hasmukhbhai Shivabhai Patel |
|
Registration # |
04-004437 |
||
|
Street Address |
MB House, 51,
Chandrodaya Society, Opposite Golden Triangle Stadium Road, Post
Navjivan, Ahmedabad – 380014, Gujarat,
India |
||
|
Established Date |
16.06.1981 |
SIC Code |
-- |
|
Telephone# |
91-79-26405563 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-79-26400828 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Proflex Roofing Systems |
|
|
# of employees |
600
(Approximately) |
Product Name 2 |
Phenix Pre Engineered Metal Building. |
|
Paid up capital |
Rs.
200,000,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives
of Directors 100 % |
Banking |
Bank of Baroda |
|
Public Limited Corp. |
No |
Business Period |
32 Years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
Ba
(46) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Associates |
India |
Manibhai
and Brothers PCC Sarkhej |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
1,885,570,000 |
Current Liabilities |
1,045,047,000 |
|
Inventories |
532,048,000 |
Long-term Liabilities |
1,402,701,000
|
|
Fixed Assets |
742,858,000 |
Other Liabilities |
96,437,000 |
|
Deferred Assets |
-- |
Total Liabilities |
2,544,185,000 |
|
Invest& other Assets |
123,000 |
Retained Earnings |
416,414,000 |
|
|
|
Net Worth |
616,414,000 |
|
Total Assets |
3,160,599,000 |
Total Liab. & Equity |
3,160,599,000 |
|
Total Assets (Previous Year) |
2,584,443,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
4,869,213,000 |
Net Profit |
113,931,000 |
|
Sales(Previous yr) |
3,608,995,000 |
Net Profit(Prev.yr) |
200,375,000 |
|
Report Date : |
29.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
M AND B ENGINEERING LIMITED (w.e.f.30.03.2011) |
|
|
|
|
Formerly Known
As : |
M AND B ENGINEERING PRIVATE LIMITED (w.e.f.22.11.2006) MANIBHAI AND BROTHERS (CONSTRUCTION) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
MB House, 51, Chandrodaya Society, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
16.06.1981 |
|
|
|
|
Com. Reg. No.: |
04-004437 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 200.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45200GJ1981PLC004437 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
AHMM00926C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACM7430Q |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Proflex Roofing Systems and Phenix Pre Engineered |
|
|
|
|
No. of Employees
: |
600 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 2465000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a Satisfactory track record. There
appears some dip in the profitability of the company during current year.
However, net worth appears to be satisfactory. Trade relations are reported
as fair. Business is active. Payments are reported to be usually correct and
as per commitments. The company can be considered normal for business dealings at usual
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
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
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including industrial
deregulation, privatization of state-owned enterprises, and reduced controls on
foreign trade and investment, began in the early 1990s and has served to
accelerate the country's growth, which has averaged more than 7% per year since
1997. India's diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India's output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis - in large
part because of strong domestic demand - and growth exceeded 8% year-on-year in
real terms. However, India's economic growth in 2011 slowed because of persistently
high inflation and interest rates and little progress on economic reforms. High
international crude prices have exacerbated the government's fuel subsidy
expenditures contributing to a higher fiscal deficit, and a worsening current
account deficit. Little economic reform took place in 2011 largely due to
corruption scandals that have slowed legislative work. India's medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CARE |
|
Rating |
BBB (Long Term Bank Facilities) |
|
Rating Explanation |
Moderate degree of safety. It carry moderate credit risk. |
|
Date |
April 2012 |
|
Rating Agency Name |
CARE |
|
Rating |
A3(Short Term Bank Facilities) |
|
Rating Explanation |
Moderate degree of safety. It carry higher credit risk. |
|
Date |
April 2012 |
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 / Corporate Office : |
MB House, 51 Chandrodaya Society, |
|
Tel. No.: |
91-79-26405563/ 26405572/ 26461314 |
|
Fax No.: |
91-79-26400828/ 26400826/ 26568433/ 26561588 |
|
E-Mail : |
keyus@mbproflex.com |
|
Website : |
|
|
Area : |
15000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
Plot No.30 P, Naranpura Sanand, Ahmedabad – 382 213, |
|
Tel. No.: |
91-2717-273051-52-53-54-55-56 |
|
Fax No.: |
91-2717-273052 |
|
Area : |
20 Acers |
|
Location : |
Owned |
|
|
|
|
Marketing Office : |
Located
at:
|
DIRECTORS
As on 24.09.2012
|
Name : |
Mr. Manibhai Shivabhai Patel |
|
Designation : |
Director |
|
Address : |
7, Friends Colony, Naranpura, Ahmedabad -380013, |
|
Date of Birth/Age : |
03.08.1924 |
|
PAN No. : |
AATPP0123E |
|
Date of Appointment: |
16.06.1981 |
|
DIN : |
|
|
|
|
|
Name : |
Mr. Hasmukhbhai Shivabhai Patel |
|
Designation : |
Director |
|
Address : |
7, Friends Colony, Naranpura, Ahmedabad -380013, |
|
Date of Birth/Age : |
24.09.1935 |
|
Qualification : |
B.E. Civil and Electrical |
|
PAN No. : |
ACVPP7829P |
|
Date of Appointment: |
16.06.1981 |
|
DIN : |
00260955 |
|
|
|
|
Name : |
Mr. Chirag Hasmukhbhai Patel |
|
Designation : |
Managing Director |
|
Address : |
7, Friends Colony, Naranpura, Ahmedabad -380013, |
|
Date of Birth/Age : |
26.03.1971 |
|
Qualification : |
B.E. Civil |
|
PAN No. : |
AEHPP8762P |
|
Date of Appointment: |
01.05.1993 |
|
DIN : |
00260514 |
|
Voter ID No.: |
URP2153161 |
|
|
|
|
Name : |
Mr. Malav Girishbhai Patel |
|
Designation : |
Managing Director |
|
Address : |
7, Friends Colony, Naranpura, Ahmedabad -380013, |
|
Date of Birth/Age : |
20.10.1976 |
|
Qualification : |
B.B.A |
|
Date of Appointment: |
01.03.2001 |
|
DIN : |
00260602 |
|
|
|
|
Name : |
Mr. Rangarajan Krishnan Vijaya Raghavan |
|
Designation : |
Managing Director |
|
Address : |
Plot No. 35, 8-2-120/86/9/A/35, Rao And Raju Colony, Road No. 14,
Banjara Hills, Hyderabad-500034, |
|
Date of Birth/Age : |
07.08.1948 |
|
Qualification : |
BE Hons, MBA ?, Business Management, Ph. D. |
|
Date of Appointment: |
01.09.2007 |
|
DIN : |
01839422 |
|
|
|
|
Name : |
Mr. Vipinbhai Kantilal Patel |
|
Designation : |
Whole-time Director |
|
Address : |
2, Nandanvan, Near Shyam Vihar Bunglow, Thaltej – |
|
Date of Birth/Age : |
17.03.1948 |
|
Qualification : |
B. Com. Inter CA |
|
PAN No. : |
AEQPP4916C |
|
Date of Appointment: |
31.12.1984 |
|
DIN : |
00260734 |
|
|
|
|
Name : |
Mr. Girishbhai Manibhai Patel |
|
Designation : |
Whole-time Director |
|
Address : |
7, Friends Colony, Naranpura, Ahmedabad-380013, |
|
Date of Birth/Age : |
31.08.1947 |
|
Qualification : |
Diploma in Hydraulic Engineering |
|
PAN No. : |
AAWPP1120E |
|
Date of Appointment: |
31.12.1984 |
|
DIN : |
00261624 |
|
|
|
|
Name : |
Mr. Sanjay Shailesh Majmudar |
|
Designation : |
Director |
|
Address : |
24, Sumadhur Cooperative Housing Society Limited, behind Ocean Park,
Ambawadi, Ahmedabad – 380015, Gujarat, India |
|
Date of Birth/Age : |
21.03.1963 |
|
Date of Appointment: |
01.04.2011 |
|
DIN : |
00091305 |
|
|
|
|
Name : |
Mr. Venkatasubramanian Natarajan Kuthoore |
|
Designation : |
Director |
|
Address : |
Da/D5, Ashok Swetha, 173, |
|
Date of Birth/Age : |
14.04.1938 |
|
Date of Appointment: |
01.04.2011 |
|
DIN : |
00007392 |
KEY EXECUTIVES
|
Name : |
Mrs. Briva Chiragbhai Patel |
|
Designation : |
Secretary |
|
Address : |
7, Friends Colony, Naranpura, Ahmedabad -380013, |
|
Date of Birth/Age : |
02.06.1973 |
|
Date of Appointment : |
01.11.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 24.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Manibhai S Patel |
|
2800000 |
|
Hasmukhbhai S Patel |
|
2800000 |
|
Girishbhai M Patel |
|
2600000 |
|
Umaben G Patel |
|
800000 |
|
Malav G Patel |
|
2800000 |
|
Chirag H Patel |
|
4200000 |
|
Vipinbhai K Patel |
|
1000000 |
|
Leenaben V Patel |
|
400000 |
|
Aditya V Patel |
|
600000 |
|
Birvaben C Patel |
|
2000000 |
|
|
|
|
|
Total |
|
20000000 |
Equity Share Break up (Percentage of Total Equity)
As on 24.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Proflex Roofing Systems and Phenix Pre Engineered |
||||
|
|
|
||||
|
Products : |
|
PRODUCTION STATUS AS ON (31.03.2011)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Pre Engineered Metal Buildings |
MT |
60000 |
31468.44 |
GENERAL INFORMATION
|
No. of Employees : |
600 (Approximately) |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
·
Bank of Baroda, Bhadra Branch, Opposite Dinbai Tower,
Lal Darwaja, Ahmedabad – 380001, Gujarat, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Banking
Relations : |
-- |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Auditors : |
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Talati and Talati Chartered Accountants |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
Ambika Chambers, Near Old High Court, Navarangpura, Ahmedabad –
380009, |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
PAN.: |
AAAFT4520A |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
CAPITAL STRUCTURE
As on 24.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000000 |
Equity Shares |
Rs.10/- each |
Rs.300.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000000 |
Equity Shares |
Rs.10/- each |
Rs.200.000
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 |
200.000 |
200.000 |
80.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
416.414 |
302.483 |
202.108 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
616.414 |
502.483 |
282.108 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1214.571 |
653.273 |
574.487 |
|
|
2] Unsecured Loans |
188.130 |
187.347 |
574.936 |
|
|
TOTAL BORROWING |
1402.701 |
840.620 |
1149.423 |
|
|
DEFERRED TAX LIABILITIES |
54.185 |
54.717 |
50.787 |
|
|
|
|
|
|
|
|
TOTAL |
2073.300 |
1397.820 |
1482.318 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
742.858 |
731.434 |
729.756 |
|
|
Capital work-in-progress |
0.123 |
0.585 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.455 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
532.048
|
422.569 |
253.634
|
|
|
Sundry Debtors |
1343.487
|
902.578 |
612.202
|
|
|
Cash & Bank Balances |
361.450
|
299.098 |
150.124
|
|
|
Other Current Assets |
0.836
|
0.526 |
59.854
|
|
|
Loans & Advances |
179.797
|
227.653 |
137.216
|
|
Total
Current Assets |
2417.618
|
1852.424 |
1213.030 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
313.012
|
500.830 |
201.351
|
|
|
Other Current Liabilities |
732.035
|
614.409 |
222.667
|
|
|
Provisions |
42.252
|
71.384 |
36.905
|
|
Total
Current Liabilities |
1087.299
|
1186.623 |
460.923 |
|
|
Net Current Assets |
1330.319
|
665.801 |
752.107 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
2073.300 |
1397.820 |
1482.318 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4869.213 |
3608.995 |
2070.745 |
|
|
|
Other Income |
20.927 |
61.246 |
8.172 |
|
|
|
TOTAL |
4890.140 |
3670.241 |
2078.917 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
2360.384 |
1802.740 |
0.000 |
|
|
|
Purchases of stock-in-trade |
1476.217 |
1040.998 |
0.000 |
|
|
|
Changes in inventories of finished goods, work-in-progress and
stock-in-trade |
(7.219) |
(142.226) |
0.000 |
|
|
|
Employee benefit expenses |
292.465 |
219.776 |
0.000 |
|
|
|
Other expenses |
358.603 |
246.516 |
0.000 |
|
|
|
Direct Expenses |
0.000 |
0.000 |
1544.463 |
|
|
|
Administrative and Other Expenses |
0.000 |
0.000 |
257.649 |
|
|
|
Selling and distribution Expenses |
0.000 |
0.000 |
43.073 |
|
|
|
Increase/(Decrease) in Finished Goods |
|
|
(37.253) |
|
|
|
TOTAL |
4480.450 |
3167.804 |
1807.932 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
409.690 |
502.437 |
270.985 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES |
146.764 |
124.368 |
114.120 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
262.926 |
378.069 |
156.865 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
92.645 |
71.765 |
54.488 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
170.281 |
306.304 |
102.377 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
56.350 |
105.929 |
32.380 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
113.931 |
200.375 |
69.997 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
376.069 |
175.694 |
105.697 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
N.A |
376.069 |
175.694 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
N.A |
81.254 |
65.612 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
N.A |
914.330 |
326.930 |
|
|
|
Stores & Spares |
N.A |
3.435 |
8.064 |
|
|
|
Capital Goods |
N.A |
24.194 |
23.945 |
|
|
TOTAL IMPORTS |
N.A |
941.959 |
358.939 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.7 |
11.01 |
3.89 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.33
|
5.46 |
3.67 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.50
|
8.49 |
4.94 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.39
|
11.85 |
5.27 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.28
|
0.61 |
0.36 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.28
|
1.67 |
5.71 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.22
|
1.56 |
2.63 |
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 |
Yes |
|
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) |
No |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U45200GJ1981PLC004437 |
|
Name of the
company |
M AND B
ENGINEERING LIMITED |
|
Address of the
registered office or of the principal place of business in |
MB House, 51, Chandrodaya Society, Opposite Golden Triangle Stadium
Road, Post Navjivan, Ahmedabad –
380014, Gujarat, India Email : info@mbproflex.com |
|
This form is for |
Creation of charge |
|
Type of charge |
|
|
Particular of
charge holder |
Email
:bhadra@bankofbaroda.com |
|
Nature of
instrument creating charge |
Composite
Instrument of Hypothecation of Book debts, Movable Machinery and Vehicles
dated 29th January, 2013 for creating charge on plant and machinery of
(Proflex Roofing system) by way of hypothecation. |
|
Date of instrument
Creating the charge |
29.01.2013 |
|
Amount secured by
the charge |
Rs. 673.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Inland / Foreign L/C (DP/DA Usance - 180 days) with Buyer's credit up to 360 days As per Bank's FEDAI guidelines Terms of Repayment 12 months subject
to review every year Margin 15% cash margin on Letter of Credit upto Rs-320.000 millions and 20% cash margin on Letter of Credit beyond Rs.320.000 millions 100% cash margin for Buyers Credit beyond 180 days (including Usance period of Letter of Credit Extent and
operation of the charge Charge on existing Plant and Machinery of Proflex Roofing System such as -5- MIC 240 Machine and -2- MIC 120 Machine for securing the credit facilities of Rs. 673.500 millions granted to M/s. M B Enterprise, Partnership Firm. Others Personal Guarantee of 1. Manibhai S. Patel 2. Umaben G. Patel 3. Aditya V. Patel 4. Malav G. Patel 5. Chirag H. Patel 6. Birva C. Patel 7. Vipin K. Patel 8. Girish M. Patel 9. Hasmukhbhai S. Patel 10. Aparna M. Patel Corporate Guarantee of M/s. M and B Engineering Limited and Manibhai and Brothers and its non common partners. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
All tangible movable machinery, plant of Proflex Roofing System of Company situated at Sanand which are now lying stored in or about at Company's premises and godowns or wherever else. |
FIXED ASSETS
UNSECURED LOAN
(Rs. In Millions)
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
Loans and Advances from Related Parties |
188.130 |
187.347 |
|
Total |
188.130 |
187.347 |
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.54.39 |
|
|
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
INFORMATION DETAILS
|
Report Prepared
by : |
RSMK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
46 |
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.