MIRA INFORM REPORT
|
Report Date : |
04.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
HY-TECHENGINEERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Plot No. A-160, Main Road, Wagle Industrial Estate, Thane – 400604,
Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
18.12.1978 |
|
|
|
|
Com. Reg. No.: |
11-020853 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.4.005 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U99999MH1978PTC020853 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing of hydraulic fittings, hydraulic hoses and hydraulic
cylinder. |
|
|
|
|
No. of Employees
: |
400 (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 360000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The rating reflects moderate financial risk profile marked by drastic
dip in the profits of the company during financial year 2013. However, trade relations are reported as fair. Business is active.
Payments terms are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
NOTES:
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INDIAN ECONOMIC OVERVIEW
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects
positive impact of the election cycle.
India’s economy may grow
4.7 % in the current financial year, lower than the official estimate of 4.9 %,
Fitch Rating said. The global rating agency expects the economy to pick up in
the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs 7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
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. Sanjay Jadhav |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-40971900 |
|
Date : |
03.06.2014 |
LOCATIONS
|
Registered Office / Factory 1 : |
Plot No. A-160, Main Road, Wagle Industrial Estate, Thane – 400604,
Maharashtra, India |
|
Tel. No.: |
91-22-40971900 |
|
Fax No.: |
91-22-25825119 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
|
|
|
|
Factory 2 : |
Gut No.325, 326 Mumbai - Bangalore Highway, Sanghavi Road, Shirval
Tal. Khandala, District Satara – 412801, Maharashtra, India |
|
Tel. No.: |
91-2169-244281 / 82 / 83 |
|
|
|
|
Factory 3 : |
Plot No.531 A and B, Sector III, Pithampur, Tahasil, District Dhar –
454774, Madhya Pradesh, India |
|
Tel. No.: |
91-7292-401440 / 401441 |
DIRECTORS
AS ON 21.09.2013
|
Name : |
Mr. Hemant Tukaram Mondkar |
|
Designation : |
Managing Director |
|
Address : |
504/505, Raj Mahal, Panchpakhadi, Thane (West), Thane – 400602,
Maharashtra, India |
|
Date of Birth/Age : |
30.12.1947 |
|
Date of Appointment : |
15.01.1979 |
|
DIN No.: |
00060995 |
|
|
|
|
Name : |
Mr. Darshan Hemant Mondkar |
|
Designation : |
Director |
|
Address : |
504/505, Raj Mahal, Panchpakhadi, Thane (West), Thane – 400602,
Maharashtra, India |
|
Date of Birth/Age : |
11.10.1976 |
|
Date of Appointment : |
01.11.2005 |
|
DIN No.: |
00060380 |
|
|
|
|
Name : |
Mr. Jayant Tukaram Mondkar |
|
Designation : |
Director |
|
Address : |
9, Shivam Society, Nane Pada Road, Mulund (East), Mumbai – 400081,
Maharashtra, India |
|
Date of Birth/Age : |
08.05.1952 |
|
Date of Appointment : |
17.01.1994 |
|
DIN No.: |
00811824 |
KEY EXECUTIVES
|
Name : |
Mr. Sanjay Jadhav |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS
AS ON 21.09.2013
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
Hemant Tukaram Mondkar |
16832 |
42.03 |
|
Jayant Tkaram Mondkar |
7819 |
19.52 |
|
Surekha Hemant Mondkar |
7838 |
19.57 |
|
Jayant Tukaram Mondkar Joint with Neela Jayant Mondkar |
740 |
1.85 |
|
Darshan Kemant Mondkar |
3776 |
9.43 |
|
Surekha Hemant Mondkar Joint with Neela Jayant Mondkar |
1420 |
3.55 |
|
Darshan Hemant Mondkar Joint with Hemant Tukaram Mondkar |
1275 |
3.18 |
|
Hemant Mondkar (HUF) |
350 |
0.87 |
|
Total |
40050 |
100.00 |
Equity Share Break up (Percentage of Total Equity)
AS ON 21.09.2013
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.13 |
|
Others |
0.87 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing of hydraulic fittings, hydraulic hoses and hydraulic
cylinder. |
|
|
|
|
Exports : |
|
|
Products : |
Finished Goods |
|
Countries : |
·
USA ·
Italy ·
Belgium |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
China |
|
|
|
|
Terms : |
|
|
Selling : |
Others |
|
|
|
|
Purchasing : |
Others |
GENERAL INFORMATION
|
Suppliers : |
Tarini Steel Company Limited |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Customers : |
Others ASB International Private Limited |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
400 (Approximately) |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
TJSB Sahakari Bank Limited, TJSB House, Plot No.
B-5, Road No.2, Behind Aplab, Lab, Wagle Industrial Estate, Thane (West),
Thane - 400604, Maharashtra, India ·
The Thane Janata Sahakari Bank Limited, 10-11,
Tip Top Plaza, L B S Road, Wagle Estate, Thane – 400604, Maharashtra, India ·
The Thane Janata Sahakari Bank Limited, Madhukar
Bhavan, Road No.16, Wagle Estate, Thane – 400604, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R G Muley and Company Chartered Accountants |
|
Address : |
221/222, Swastik Plaza, Pokharan Road No.2, Thane – 400601,
Maharashtra, India |
|
PAN No.: |
AAPPM4897C |
|
|
|
|
Related Parties : |
·
Sagar Forge Private Limited ·
Fasto Engineers Private Limited ·
NR Hy-Tech Engineers Private Limited |
CAPITAL STRUCTURE
AS ON 21.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
50000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
40050 |
Equity Shares |
Rs.100/- each |
Rs.4.005 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders' Funds |
|
|
|
|
(a) Share Capital |
4.005 |
4.005 |
4.005 |
|
(b) Reserves & Surplus |
87.118 |
86.817 |
63.019 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending
allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
91.123 |
90.822 |
67.024 |
|
|
|
|
|
|
(3)
Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
63.513 |
72.270 |
85.017 |
|
(b) Deferred tax liabilities (Net) |
0.714 |
2.064 |
0.648 |
|
(c) Other long term
liabilities |
24.000 |
0.000 |
0.099 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
88.227 |
74.334 |
85.764 |
|
|
|
|
|
|
(4)
Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
90.715 |
83.509 |
54.836 |
|
(b) Trade payables |
70.575 |
68.207 |
46.894 |
|
(c) Other
current liabilities |
6.689 |
16.587 |
10.887 |
|
(d) Short-term
provisions |
21.371 |
19.288 |
11.172 |
|
Total Current
Liabilities (4) |
189.350 |
187.591 |
123.789 |
|
|
|
|
|
|
TOTAL |
368.700 |
352.747 |
276.577 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
147.744 |
162.660 |
155.973 |
|
(ii)
Intangible Assets |
0.630 |
0.186 |
0.254 |
|
(iii) Capital
work-in-progress |
1.085 |
0.341 |
0.002 |
|
(iv)
Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
6.118 |
3.300 |
2.300 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
1.728 |
1.825 |
1.451 |
|
(e) Other
Non-current assets |
1.917 |
1.950 |
2.131 |
|
Total Non-Current
Assets |
159.222 |
170.262 |
162.111 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
56.321 |
62.685 |
37.054 |
|
(c) Trade
receivables |
99.838 |
73.499 |
53.728 |
|
(d) Cash
and cash equivalents |
27.965 |
9.386 |
6.983 |
|
(e)
Short-term loans and advances |
25.354 |
36.915 |
16.701 |
|
(f) Other current
assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
209.478 |
182.485 |
114.466 |
|
|
|
|
|
|
TOTAL |
368.700 |
352.747 |
276.577 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
331.916 |
312.336 |
223.548 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
NA |
260.819
|
187.581 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
51.517 |
35.967 |
|
|
|
|
|
|
|
|
|
Less |
DEPRECIATION/
AMORTISATION |
NA |
18.802 |
12.332 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
0.450 |
32.715 |
23.635 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.150 |
8.916 |
7.157 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
AFTER TAX |
0.300 |
23.799 |
16.478 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
7.49 |
NA |
NA |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
381.100 |
Expected Sales (2014-2015): Rs.600.000 Millions
The above information has been parted by Mr. Sanjay Jadhav (Accounts
Manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
PAT / Total Income |
(%) |
0.09 |
7.62 |
7.37 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.12 |
9.37 |
8.62 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
0.36 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
1.69 |
1.72 |
2.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.11 |
0.97 |
0.92 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Share Capital |
4.005 |
4.005 |
4.005 |
|
Reserves & Surplus |
63.019 |
86.817 |
87.118 |
|
Net
worth |
67.024 |
90.822 |
91.123 |
|
|
|
|
|
|
long-term borrowings |
85.017 |
72.270 |
63.513 |
|
Short term borrowings |
54.836 |
83.509 |
90.715 |
|
Total
borrowings |
139.853 |
155.779 |
154.228 |
|
Debt/Equity
ratio |
2.087 |
1.715 |
1.693 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Total Income |
223.548 |
312.336 |
331.916 |
|
|
|
39.718 |
6.269 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2011 |
31.03.2012 |
31.03.2013 |
|
|
Rs.
In Millions |
Rs.
In Millions |
Rs.
In Millions |
|
Total Income |
223.548 |
312.336 |
331.916 |
|
Profit |
16.478 |
23.799 |
0.300 |
|
|
7.37% |
7.62% |
0.09% |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TERM DEBT IS NOT AVAILABLE.
|
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
four 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) |
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 |
PERFORMANCE DURING
THE FINANCIAL YEAR:
The income of the company for the year is Rs.331.916 Millions as
compared to last year Rs.312.336 Millions indicating increase of 19.580
Millions. However, the profit for the year is only Rs. 0.450 Million as
compared to last year 32.715 Millions as the expected production has not taken
place from Shirval Unit. Secondly, the profit of last year Rs.32.715 Millions
includes the profit of Rs.8.104 Millions due to sales of Bhosari Property.
UNSECURED LOANS:
|
Particulars |
31.03.2013 Rs. In Millions |
31.03.2012 Rs. In Millions |
|
From Related Parties |
|
|
|
D H Mondkar |
0.800 |
0.800 |
|
Gauri A
Prabhavalkar |
0.500 |
0.500 |
|
H T Modkar |
1.200 |
1.309 |
|
S H Mondkar |
2.500 |
2.500 |
|
H T Mondkar HUF |
0.300 |
0.300 |
|
Netra S Mondkar |
0.000 |
0.588 |
|
H T Mondkar |
0.109 |
0.582 |
|
HT Mondkar HUF |
0.588 |
2.181 |
|
|
|
|
|
Total |
5.997 |
8.760 |
INDEX OF CHARGE:
|
Sr. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10482558 |
28/09/2013 |
20,000,000.00 |
TJSB
SAHAKARI BANK LIMITED |
TJSB
HOUSE,PLOT NO . B-5, ROAD NO-2, BEHIND APLAB, LAB, WAGLE INDUSTRIAL ESTATE,
THANE (W.), THANE, |
B90914326 |
|
2 |
10364182 |
12/06/2012 |
8,000,000.00 |
THE
THANE JANATA SAHAKARI BANK LIMITED |
MADHUKAR
BHAVAN, ROAD NO. 16, WAGLE ESTATE, THANE, MAHARASHTRA - 400604, INDIA |
B43071216 |
|
3 |
10364273 |
22/05/2012 |
8,000,000.00 |
THE THANE
JANATA SAHAKARI BANK LIMITED |
MADHUKAR
BHAVAN, ROAD NO. 16, WAGLE ESTATE, THANE, MAHARASHTRA - 400604, INDIA |
B43103662 |
|
4 |
10364186 |
22/05/2012 |
13,100,000.00 |
THE
THANE JANATA SAHAKARI BANK LIMITED |
MADHUKAR
BHAVAN, ROAD NO. 16, WAGLE ESTATE, THANE, MAHARASHTRA - 400604, INDIA |
B43071976 |
|
5 |
10299226 |
07/07/2011 |
10,000,000.00 |
THANE
JANATA SAHAKARI BANK LIMITED |
MADHUKAR
BHAVAN, ROAD NO. 16, WAGLE ESTATE, THANE, MAHARASHTRA - 400604, INDIA |
B17684770 |
|
6 |
10290802 |
19/05/2011 |
65,000,000.00 |
THE
THANE JANATA SAHAKARI BANK LIMITED |
MADHUKAR
BHAVAN, ROAD NO. 16, WAGLE ESTATE, THANE, MAHARASHTRA - 400604, INDIA |
B14491823 |
|
7 |
10285418 |
17/03/2011 |
960,000.00 |
THANE
JANATA SAHAKARI BANK LIMITED |
MADHUKAR
BHAVAN, ROAD NO. 16, WAGLE ESTATE, THANE, MAHARASHTRA - 400604, INDIA |
B12164083 |
|
8 |
10251991 |
22/05/2012
* |
72,000,000.00 |
THE
THANE JANATA SAHAKARI BANK LIMITED |
MADHUKAR
BHAVAN, ROAD NO. 16, WAGLE ESTATE, THANE, MAHARASHTRA - 400604, INDIA |
B43094531 |
|
9 |
10252002 |
12/06/2012
* |
1,500,000.00 |
THE
THANE JANATA SAHAKARI BANK LIMITED |
MADHUKAR
BHAVAN, ROAD NO. 16, WAGLE ESTATE, THANE, MAHARASHTRA - 400604, INDIA |
B43070317 |
|
10 |
10252004 |
19/05/2011
* |
9,804,000.00 |
THANE
JANATA SAHAKARI BANK LIMITED |
MADHUKAR
BHAVAN, ROAD NO. 16, WAGLE ESTATE, THANE, MAHARASHTRA - 400604, INDIA |
B14489090 |
|
11 |
10221761 |
26/04/2010 |
4,300,000.00 |
SMALL
INDUSTRIES DEVELOPMENT BANK OF INDIA |
SIDBI
TOWERS, 15, ASHOK MARG, LUCKNOW, UTTAR PRADESH - 226001, INDIA |
A85708824 |
* Date of charge modification
FIXED ASSETS:
·
Land
·
Building
·
Generator
·
Plant and Machinery
·
Rock for Tools
·
Dies
·
Furniture and Fixture
·
Electrical Installation
·
Fans
·
Typewriter
·
Air Conditioners
·
Fire Extinguisher
·
Vehicle
·
Refrigerator
·
Tea/Coffee Vending
Machine
·
Water Purifier
·
Fax
·
Computer
·
Delivery Van
·
Xerox Machine
·
Water Cooler
·
Water Pump
·
Projector
·
ETP Plant
·
Lift
·
Office Equipment
·
Software Development
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.59.34 |
|
|
1 |
Rs.99.18 |
|
Euro |
1 |
Rs.80.76 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
NKT |
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 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
YES |
|
--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.