|
Report Date : |
15.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
MANARA ENGINEERS |
|
|
|
|
Registered
Office : |
33, Shreeyash Apartments., S.No.14/2, Anandnagar, Pune – 411 051, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Year of
Establishment : |
1999 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3.839 millions |
|
|
|
|
PAN No.: [Permanent Account No.] |
ACWPC3603K |
|
|
|
|
Legal Form : |
Partnership concern with an unlimited liability of the partners |
|
|
|
|
Line of Business
: |
Subject is involved in the Manufacturing of Biological Culture used to
treat the Waste from Sugar Industry, Municipal Solid Waste, Hotel Industry
Waste, Agricultural Waste, Poultry Waste etc. |
|
|
|
|
No. of Employees
: |
Approximately 6 (In Office - 2, In Factory - 4) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Maximum Credit Limit : |
USD 15000 |
|
|
|
|
Status : |
Small Concern |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a small partnership concern in its field. Its scale of
activities is limited. Trade relations are reported as fair. Business is
active. Payment terms are reported as slow but correct. The concern can be considered for small 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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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’s current
account deficit narrowed in the quarter ended September as government measures
to curb imports, especially gold, kicked in. The current account deficit,
the excess of a country’s imports of goods and services over exports, narrowed
to $ 5.2 billion from $ 21 billion in the year ago period, according to
provisional Reserve Bank of India data. Finance Minister P. Chidambaram said
the CAD for the year will be less than $ 60 billion or 3 per cent of GDP and
the latest data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million estimated
losses suffered by India due to phishing attacks during the third quarter,
according to a study by RSA. India ranks fourth in the list of nations hit by
phishing attacks. The US remained at the top of the charts. Phishing is the
process of acquiring information such as user names, passwords and credit card
details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ 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. Ram Chavan |
|
Designation : |
Partner |
|
Contact No.: |
91-9922997181 |
|
Date : |
10.01.2014 |
LOCATIONS
|
Registered Office : |
33, Shreeyash Apartments., S.No.14/2, Anandnagar, Pune – 411 051,
Maharashtra, India |
|
Tel. No.: |
91-20-24349329 |
|
Mobile No.: |
91-9922997181 (Mr. Ram Chavan) |
|
Fax No.: |
91-20-24349329 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory : |
S.No.37/2, Near Pari Company, Narhe, Pune – 411 041, Maharashtra,
India |
|
Location : |
Rented |
PARTNERS
|
Name : |
Mr. Ram Chavan |
|
Designation : |
Partner |
|
Date of Birth/Age : |
47 Years |
|
Qualification : |
BE Electrical |
|
|
|
|
Name : |
Mrs. Vaishali Chavan |
|
Designation : |
Partner |
|
Date of Birth/Age : |
36 Years |
|
Qualification : |
B. Com |
BUSINESS DETAILS
|
Line of Business : |
Subject is involved in the Manufacturing of Biological Culture used to
treat the Waste from Sugar Industry, Municipal Solid Waste, Hotel Industry
Waste, Agricultural Waste, Poultry Waste etc. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit (30 days) |
|
|
|
|
Purchasing : |
Cash and Advance |
PRODUCTION STATUS (AS ON 31.03.2013)
|
Particulars |
Installed
Capacity |
Actual
Production |
|
COMPOST CULTURE – MICRO 110 |
18 Tons Per
Month |
100% |
GENERAL INFORMATION
|
Suppliers : |
·
Pravik Minerals Limited |
|
|
|
|
Customers : |
End Users, OEM’s and Others (Hotel/ Sugar Industries) ·
Krishna SSK Limited, Karad (Contact Person: Mr.
Manoj Bora, Mobile No.: 91-9881179819) |
|
|
|
|
No. of Employees : |
Approximately 6 (In Office - 2, In Factory - 4) |
|
|
|
|
Bankers : |
·
HDFC Bank Limited, Hingne Khurd, Sinhagad Road, Pune –
411 051, Maharashtra, India
·
ICICI Bank Limited ·
Janata Sahakari
Bank Limited |
|
|
|
|
Facilities : |
Cash Credit Rs.1.400 millions (From Janata Sahakari Bank Limited) |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
SSSS and Associates Chartered Accountants |
|
Address : |
Anant Residency, 2055, Sadashiv Peth, Pune – 411 051, Maharashtra,
India |
|
Tel. No.: |
91-20-24337333 |
|
E-Mail : |
|
|
|
|
|
Sister Concern : |
Sarvay Biotech Address: S.No.37/2, H.No.513, Narhe, Pune – 411 041, Maharashtra,
India Line of business: Manufacturing of
ETP Culture Microe1. |
CAPITAL STRUCTURE
AS ON 31.03.2013
|
Capital Investment : |
|
|
Owned : |
Rs.3.839 millions |
|
Borrowed : |
-- |
|
Total : |
Rs.3.839 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Expected Sales (2013-2014): Rs.8.000 millions
The above information has been parted by Mr. Ram Chavan (Partner).
Note : Sole Proprietary and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partner’s Capital |
3.839 |
2.319 |
1.915 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3.839 |
2.319 |
1.915 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.151 |
0.417 |
0.556 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
3] Bank OD A/c |
0.000 |
0.043 |
0.395 |
|
|
TOTAL BORROWING |
0.151 |
0.460 |
0.951 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3.990 |
2.779 |
2.866 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.683 |
0.769 |
0.905 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.816 |
2.427 |
2.407 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.574
|
0.282 |
0.458 |
|
|
Cash & Bank Balances |
1.374
|
0.447 |
0.411 |
|
|
Other Current Assets |
0.000
|
0.100 |
0.000 |
|
|
Loans & Advances |
0.233
|
0.422 |
0.121 |
|
Total
Current Assets |
2.181
|
1.251 |
0.990 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.605
|
1.598 |
1.366 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
0.085
|
0.070 |
0.070 |
|
Total
Current Liabilities |
0.690
|
1.668 |
1.436 |
|
|
Net Current Assets |
1.491
|
(0.417) |
(0.446) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3.990 |
2.779 |
2.866 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
6.815 |
5.816 |
4.250 |
|
|
|
Other Income |
0.001 |
0.001 |
0.069 |
|
|
|
TOTAL |
6.816 |
5.817 |
4.319 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchase Accounts |
2.654 |
2.240 |
2.353 |
|
|
|
Freight Inward |
0.443 |
0.005 |
0.000 |
|
|
|
Rent |
0.240 |
0.101 |
0.133 |
|
|
|
Labour Charges |
0.145 |
0.185 |
0.111 |
|
|
|
Commission |
0.303 |
0.214 |
0.083 |
|
|
|
Salaries and Wages |
0.798 |
0.882 |
0.235 |
|
|
|
Travelling and Conveyance |
0.364 |
0.222 |
0.127 |
|
|
|
Other Expenses |
0.760 |
1.027 |
0.631 |
|
|
|
TOTAL |
5.707 |
4.876 |
3.673 |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
1.109 |
0.941 |
0.646 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.121 |
0.136 |
0.089 |
|
|
|
|
|
|
|
|
|
|
NET PROFIT /
(LOSS) |
0.988 |
0.805 |
0.557 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
14.50
|
13.84 |
12.90 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
14.50
|
13.84 |
13.11 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
34.50
|
39.85 |
29.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.35 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.04
|
0.20 |
0.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.16
|
0.75 |
0.69 |
LOCAL AGENCY FURTHER INFORMATION
|
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 three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
Yes |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
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 |
No |
|
29) Last accounts filed at ROC |
No |
|
30) Major Shareholders, if available |
No |
|
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 |
TRADE REFERENCES:
·
Krishna SSK Limited, Karad (Contact Person: Mr.
Manoj Bora, Mobile No.: 91-9881179819)
·
Ashok SSK Limited, Srirampur (Contact Person: Mr. Bankar,
Mobile No.: 91-9860242790)
·
Vishwasrao Naik SSK Limited, Sangli (Contact
Person: Mr. Sharad Patil, Mobile No.: 91-9970700165)
·
Nira Bhima SSK Limited, Indapur (Contact Person:
Mr. Genge, Mobile No.: 91-9637796850)
PROFILE:
Subject are Technocrats in the field of Bio-Engineering and other
process related products.
Mr. Ram Chavan CEO and founder of the co. started Business with the
Distributorship from Alfa Laval Saunders India Limited for their range of
process related products for sugar factories, Dairies and other allied
Industries in 1999-2000.
They entered into manufacturing with Compost Culture-Micro 110, ETP Culture Manure and Biofertilizer
Concentrates in the year 2005-2006 using the Technological knowhow from
IBF USA.
They are in the Manufacturing of Biological Culture used to treat the
Waste from Sugar Industry, Municipal solid waste, Hotel Industry waste,
Agricultural waste, Poultry waste etc. Their product reduces the Pollution and
converts all these waste into a Bio-fertilizer to be used in the Agriculture by
the Farmers all over India.
MICRO 110 culture and Bioearth composting was
introduced in India by Alfa Lava (I) Limited in 1989 in Collaboration with IBF
USA .Many
sugar factories in India are having compost project set up by Alfa Laval IBF.
Manufacturing of Micro 110 is done by them
with complete Process Technology, Equipments, Lab set up and BRAND From IBF
Alfa Laval since last 6-7 years. This has enabled them to sell product at
competitive rates with local competitors.
They have many customers giving them repeated business from Maharashtra,
UP, MP, Tamilnadu, Andhra, Karnataka and Haryana.
They have export opportunity for their product to cater and also to diversify
they are setting up well equipped state of the art plant in MIDC Shirwal on
Satara Highway, Pune Maharashtra.
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.61.52 |
|
|
1 |
Rs.101.48 |
|
Euro |
1 |
Rs.84.11 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
4 |
|
--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 |
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 |
|
29 |
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.