MIRA
INFORM REPORT
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Report Date : |
19.03.2014 |
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Tel. No.: |
02027426219/220/221 |
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E-Mail : |
IDENTIFICATION DETAILS
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Name : |
PMT MACHINES LIMITED (w.e.f. 20.05.2004) |
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Formerly Known
As : |
PMT MACHINE TOOL AUTOMATICS LIMITED |
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Registered
Office : |
Post Bag No 1102, Pimpri PF, Pune - 411018, Maharashtra |
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Country : |
India |
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Financials (as
on) : |
30.06.2011 |
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Date of
Incorporation : |
08.09.1961 |
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Com. Reg. No.: |
11-012117 |
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Capital Investment
/ Paid-up Capital : |
Rs.140.800 millions |
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CIN No.: [Company Identification
No.] |
U28932MH1961PLC012117 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PNEP00463B |
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PAN No.: [Permanent Account No.] |
AAACP4680L |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Manufacturer of Automatic Lathes, CNC Grinding and Turning
Machines and Spares. |
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No. of Employees
: |
Information declined by the management |
RATING & COMMENTS
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MIRA’s Rating : |
B (34) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Exist |
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Comments : |
Subject is an established company having moderate track record. The management has failed to file its financial with government
department for the year 2012 and 13. As per previous financial of 2011, General financial position of the
company seems to be fair. However, trade relations are fair. Business is active. Payment terms
are unknown. The company can be considered for business dealing with some caution. |
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 – December 1, 2013
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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India |
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
State-run banks hired nearly
300000 personnel including more than 94000 officers in the last four years,
according to the Indian Banks Association. A study by trade lobby Assocham in
September 2013 indicated that banks would need 800000 people in the next six
years. It estimated that state-run lenders alone would hire 50000 people in
2013/14.
The Competition Commission of
India plans to issue final orders within a broad time-frame of one year in
matters where it decides to carry out detailed investigations. The number of
complaints received by the watchdog which keeps tabs on unfair trade practices
in the marketplace.
The government has detected
custom tax evasion totaling around Rs 37920 mn in 14 states until December.
Maharashtra topped the list of Rs 14190 mn followed by Andhra Pradesh at Rs
8140 mn, Gujarat Rs 5240 mn, Karnataka Rs 1670 mn and Tamilnadu Rs 1610 mn.
Connaught Place in New Delhi
slipped four notches to become the world’s eighth most expensive office
locations. London’s West End is the world’s most expensive office market.
There are 4.072 mn number of
high value spenders under the scanner of the income tax department. The income
tax department has information that they have made cash deposits announcing to
Rs 1 mn or more in their savings bank accounts in the current financial year.
It plans to check potential evasion before the closing of the financial year on
March 31.
Estimated pharmaceutical sales
in the country for 2016 is $ 27 bn. It is 14.4 per cent higher than a year ago.
The life sciences and health care industry is up against challenges such as
quality management, says a recent Deloitte report.
The gross non-performing assets of
listed banks rose 35.2 % to Rs 2.43 lakh crore during the first three months of
the financial year. In absolute terms, the 40 listed banks added Rs 3386 crore
to their gross NPAs in nine months with the State Bank of India leading with
the State Bank of India leading with an accretion of Rs 16610 crore.
The inflow of smuggled gold
doubled in 2013 following restrictions to curb the supply from official
channels to contain the current account deficit. China surpassed India in the
demand for gold for the first time in 2013 due to liberalization of gold
trading norms by its local governments.
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 DECLINED
Management Non Cooperative (91-20-27426219)
LOCATIONS
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Registered Office : |
Post Bag No. 1102 Pimpri PF, Pune-411018, Maharashtra, India |
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Tel. No.: |
91-20-27426219/ 27426220/ 27426222/ 27426223/ 27426224/ 27473983-4/
27472309/ 27472346 |
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Fax No.: |
91-20-27463208/ 27426235/ 27426231/ 27477023 |
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E-Mail : |
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Website : |
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Head Office/ Factory 1 : |
Behind |
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Tel. No.: |
91-20-27426219-24 |
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Fax No.: |
91-20-27426235/ 31 |
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E-Mail : |
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Factory 2: |
178, Kadachala P.O. Vitoj, Taluka Halol, Panchmahal-389350, |
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Tel. No.: |
91-2676-246786/ 87 |
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Fax No.: |
91-2676-246788 |
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E-Mail : |
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Warehouse/ Factory 3 : |
Gat No.624, Hissa 4 E, 6 and 8, Village Kurali, Pune Nasik Road, Taluka Khed, District Pune, Maharashtra, India |
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Branch Office : |
Located At:
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DIRECTORS
As on 30.12.2011
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Name : |
Mr. Nitin Jayantilal Sandesara |
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Designation : |
Director |
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Address : |
329, Sandesara House, Jawahar Nagar, Goregaon (West), Mumbai, 400062, Maharashtra, India |
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Date of Birth/Age : |
19.03.1960 |
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Date of Appointment : |
25.10.1994 |
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DIN No.: |
00255496 |
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Other Directorship:
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Name : |
Mr. Chetan Jayantilal Sandesara |
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Designation : |
Director |
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Address : |
329, Sandesara House, Jawahar Nagar, Goregaon (West), Mumbai-400062, Maharashtra, India |
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Date of Birth/Age : |
25.09.1962 |
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Date of Appointment : |
17.02.1995 |
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DIN No.: |
00255671 |
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Other Directorship:
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Name : |
Mr. Rajbhushan Omprakash Dixit |
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Designation : |
Director |
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Address : |
204/12,Jawahar Nagar, Goregaon (West), Mumbai, 400062, Maharashtra, India |
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Date of Birth/Age : |
20.07.1961 |
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Date of Appointment : |
25.10.1994 |
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DIN No.: |
00025484 |
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Other Directorship:
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KEY EXECUTIVES
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Name : |
Mr. Krushnakant Ramchandra Patel |
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Designation : |
Secretary |
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Address : |
9, Aadarsh Colony, Opposite Krishna Cinema, Sidhanath Road, Baroda-390001, Gujarat, India |
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Date of Birth/Age : |
30.01.1969 |
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Date of Appointment : |
01.10.2006 |
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PAN No.: |
ALVPP4874F |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.12.2011
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Names of Shareholders |
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No. of Shares |
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Chetan J. Sandesara |
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1023600 |
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Nitin J. Sandesara |
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2125600 |
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Narendrabhai B. Patel |
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190160 |
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Jayshreeben Patel |
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204000 |
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Hitesh Patel |
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200800 |
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Mayuri H. Patel |
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251840 |
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Dipti C. Sandesara |
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84000 |
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Gabriel Investments Private Limited |
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320000 |
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Jangpriya Investments Private Limited, India |
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320000 |
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Panoramic Investments Private Limited, India |
|
480000 |
|
Richmond Investments Private Limited, India |
|
320000 |
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Blue-Mark Mercantile Private Limited, India |
|
640000 |
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Puja Aqua Farms Private Limited, India |
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640000 |
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Helicopter Services Private Limited, India |
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220000 |
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Avon Bone Products Limited, India |
|
560000 |
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Bally Trading Private Limited, India |
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400000 |
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Britney Trading Private Limited, India |
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400000 |
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Dipraj Trading Private Limited, India |
|
400000 |
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Doral Trading Private Limited, India |
|
400000 |
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Embio Trading Private Limited, India |
|
400000 |
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Gatsby Trading Private Limited, India |
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400000 |
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Eminence Trading Private Limited, India |
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760000 |
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Newport Enterprises Limited, India |
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560000 |
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Reshma Enterprises Private Limited, India |
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340000 |
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Sarovar Trading Private Limited, India |
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340000 |
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Shreeji Drug Pharma Private Limited, India |
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340000 |
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Turin Trading Private Limited, India |
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340000 |
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Unique Proteins Private Limited, India |
|
400000 |
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Lotus Glycol Limited |
|
560000 |
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Raj Bones Limited |
|
460000 |
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Total |
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14080000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.12.2011
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Category |
Percentage |
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Bodies corporate |
71.02 |
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Directors or relatives of Directors |
28.98 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Automatic Lathes, CNC Grinding and Turning
Machines and Spares. |
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Products : |
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PRODUCTION STATUS AS ON 31.03.2011
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Actual Production |
1699 in Nos. |
GENERAL INFORMATION
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No. of Employees : |
Information declined by the management |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
H.S. Hathi and Company Chartered Accountants |
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Address : |
Plot No. 110/05, Jawahar Nagar, Goregaon (West), Mumbai – 400062,
Maharashtra, India |
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PAN No.: |
AABFH8825R |
CAPITAL STRUCTURE
As on 30.12.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
|
|
|
25000000 |
Equity Shares |
Rs.10/- each |
Rs.250.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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14080000 |
Equity Shares |
Rs.10/- each |
Rs.140.800 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
30.06.2011 |
30.06.2010 |
30.06.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
140.800 |
140.800 |
140.800 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
3276.219 |
2865.875 |
2462.035 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
3417.019 |
3006.675 |
2602.835 |
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LOAN FUNDS |
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1] Secured Loans |
3933.533 |
3645.879 |
3520.720 |
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2] Unsecured Loans |
805.917 |
500.000 |
500.056 |
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TOTAL BORROWING |
4739.450 |
4145.879 |
4020.776 |
|
|
DEFERRED TAX LIABILITIES |
618.803 |
542.803 |
446.396 |
|
|
|
|
|
|
|
|
TOTAL |
8775.272 |
7695.357 |
7070.007 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
3787.428 |
3487.953 |
3258.296 |
|
|
Capital work-in-progress |
1146.274 |
586.371 |
651.696 |
|
|
|
|
|
|
|
|
INVESTMENT |
145.280 |
41.573 |
22.900 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2395.496
|
2140.129 |
2045.619 |
|
|
Sundry Debtors |
786.159
|
844.171 |
671.974 |
|
|
Cash & Bank Balances |
425.402
|
474.321 |
749.412 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
691.079
|
649.394 |
234.217 |
|
Total
Current Assets |
4298.136
|
4108.015 |
3701.222 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
408.900
|
351.800 |
420.812 |
|
|
Other Current Liabilities |
71.846
|
74.255 |
77.295 |
|
|
Provisions |
121.100
|
102.500 |
66.000 |
|
Total
Current Liabilities |
601.846
|
528.555 |
564.107 |
|
|
Net Current Assets |
3696.290
|
3579.460 |
3137.115 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
8775.272 |
7695.357 |
7070.007 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
30.06.2011 |
30.06.2010 |
30.06.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
4244.464 |
3947.127 |
3664.242 |
|
|
|
Other Income |
25.519 |
29.234 |
26.335 |
|
|
|
TOTAL (A) |
4269.983 |
3976.361 |
3690.577 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
2246.742 |
|
2651.373 |
|
|
|
Manufacturing service costs |
180.050 |
142.107 |
|
|
|
|
Employee related expenses |
276.425 |
243.895 |
|
|
|
|
Administrative selling other expenses |
334.736 |
300.536 |
|
|
|
|
TOTAL (B) |
3037.953 |
2881.160 |
2651.373 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1232.030 |
1095.201 |
1039.204 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
304.602 |
273.481 |
260.992 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
927.428 |
821.720 |
778.212 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
235.457 |
218.973 |
194.170 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
691.971 |
602.747 |
584.042 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
281.627 |
198.907 |
198.516 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
410.344 |
403.840 |
385.526 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2060.822 |
1656.982 |
1271.456 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2471.166 |
2060.822 |
1656.982 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
320.245 |
229.268 |
296.453 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials, Components and Accessories |
488.482 |
487.611 |
621.524 |
|
|
|
Capital Goods |
68.756 |
55.801 |
85.327 |
|
|
TOTAL IMPORTS |
557.238 |
543.412 |
706.851 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
29.15 |
28.68 |
32.01 |
|
KEY RATIOS
|
PARTICULARS |
|
30.06.2011 |
30.06.2010 |
30.06.2009 |
|
PAT / Total
Income |
(%) |
9.61
|
10.16 |
10.45 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
16.30
|
15.27 |
15.94 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.56
|
7.94 |
8.39 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.20 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.56
|
1.55 |
1.76 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
7.14
|
7.77 |
6.56 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
30.06.2009 |
30.06.2010 |
30.06.2011 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Share Capital |
140.800 |
140.800 |
140.800 |
|
Reserves & Surplus |
2462.035 |
2865.875 |
3276.219 |
|
Net
worth |
2602.835 |
3006.675 |
3417.019 |
|
|
|
|
|
|
Secured Loans |
3520.720 |
3645.879 |
3933.533 |
|
Unsecured Loans |
500.056 |
500.000 |
805.917 |
|
Total
borrowings |
4020.776 |
4145.879 |
4739.450 |
|
Debt/Equity
ratio |
1.545 |
1.379 |
1.387 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
30.06.2009 |
30.06.2010 |
30.06.2011 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3664.242 |
3947.127 |
4244.464 |
|
|
|
7.720 |
7.533 |
NET PROFIT MARGIN
|
Net
Profit Margin |
30.06.2009 |
30.06.2010 |
30.06.2011 |
|
|
(Rs.
In Millions) |
(Rs.
In Millions) |
(Rs.
In Millions) |
|
Sales |
3664.242 |
3947.127 |
4244.464 |
|
Profit |
385.526 |
403.840 |
410.344 |
|
|
10.52% |
10.23% |
9.67% |
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 |
No |
|
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 |
No |
|
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 |
Yes |
|
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 |
Yes |
LITIGATIONS DETAILS
|
Case Details |
|
||
|
Case Type |
Reg.Civil Suit |
|
|
|
Filing No. |
101455/2010 Filing date: 29-04-2010 |
|
|
|
Registration No. |
100009/2010 Registration date: 07-06-2010 |
|
|
|
Case code |
202701014552010 |
|
|
|
|
|
||
|
CASE STATUS |
|
||
|
First Hearing Date |
07-06-2010 |
|
|
|
Next Hearing Date |
15-03-2014 |
|
|
|
Purpose of Hearing |
|
||
|
Court No & Judge |
17- DISTRICT JUDGE – 1 AND ADDL. SESSIONS JUDGE PUNE |
|
|
|
|
|
||
|
Petitioner(s) & Advocate(s) |
|
||
|
Petitioner – Ms. Enercon GmBh Address – Dreekamp, 5,26605, Aurich, Germany Advocate – Shri Bhog |
|
||
|
Respondent(s) & Advocate(s) |
|
||
|
Petitioner – PMT MACHINES LIMITED etc 2 Address – Behind Advocate – Shri S. K. Jain |
|
||
|
ACTS |
|||
|
Under Act(s) |
--- |
|
|
|
Under Section(s) |
--- |
|
|
|
Subject |
|
||
|
|
|
||
|
LOWER COURT INFORMATION |
|
||
|
Court No & Name |
--- |
|
|
|
Case No & Year |
--- |
|
|
|
Case Decision Date |
--- |
|
|
|
History Of Case Hearing |
||||
|
Regn. No. |
Judge |
Bussiness on Date |
Hearing Date |
Purpose of Hearing |
|
100009/2010 |
District Judge -14 Addl. Sessions Judge Pune |
07-06-2010 |
17-09-2010 |
|
|
100009/2010 |
District Judge -14 Addl. Sessions Judge Pune |
17-09-2010 |
14-10-2010 |
|
|
100009/2010 |
District Judge -14 Addl. Sessions Judge Pune |
14-10-2010 |
15-11-2010 |
|
|
100009/2010 |
District Judge -14 Addl. Sessions Judge Pune |
15-11-2010 |
08-12-2010 |
|
|
100009/2010 |
District Judge -14 Addl. Sessions Judge Pune |
08-12-2010 |
06-01-2011 |
|
|
100009/2010 |
District Judge -14 Addl. Sessions Judge Pune |
06.01.2011 |
03-02-2011 |
|
|
100009/2010 |
District Judge -14 Addl. Sessions Judge Pune |
03.02-2011 |
09-03-2011 |
|
|
100009/2010 |
District Judge -14 Addl. Sessions Judge Pune |
09-03-2011 |
24-03-2011 |
|
|
100009/2010 |
District Judge -14 Addl. Sessions Judge Pune |
24-03-2011 |
18-04-2011 |
|
|
100009/2010 |
District Judge -14 Addl. Sessions Judge Pune |
18-04-2011 |
26-04-2011 |
|
|
100009/2010 |
District Judge -14 Addl. Sessions Judge Pune |
26-04-2011 |
02-05-2011 |
|
|
100009/2010 |
District Judge -14 Addl. Sessions Judge Pune |
02-05-2011 |
07-06-2011 |
|
|
100009/2010 |
District Judge -14 Addl. Sessions Judge Pune |
07-06-2011 |
15-06-2011 |
|
|
Orders |
||
|
Order No. |
Order Date |
Order Details |
|
Writ Information |
|||
|
Regn. No. |
Appellate Case No. |
Appellate Authority |
Date of Reciept |
|
Case Transfer Details Between The Courts |
|||
|
Regn. No. |
Transfer Date |
From Court No |
To Court No |
|
100009/2010 |
16-06-2011 |
3-- DISTRICT JUDGE – 14 ADDL. SESSIONS JUDGE PUNE |
17 -- DISTRICT JUDGE – 16 And ADDL. SESSIONS JUDGE PUNE |
UNSECURED LOAN
|
Particular |
30.06.2011 (Rs.
in Millions) |
30.06.2010 (Rs.
in Millions) |
|
Rupee term loans banks unsecured |
805.917 |
500.000 |
|
Total |
805.917 |
500.000 |
OPERATIONS:
During
the year, the company has achieved total sales of Rs.4244.464 Millions as
against Rs.3947.127 Millions in the previous year, an increase by 7.5 per cent.
Gross profit during the year is Rs.1232.030 Millions as compared to Rs.1095.201
Millions in the previous year. Profit after tax for the year is Rs.410.344 Millions
as compared to Rs.403.840 Millions in 2009-10, an increase by 1.6 per cent.
Despite tremendous competition and persisting economic slowdown at the domestic
as well as at global level, the company has been able to enhance the business
and increase the profitability as compared to last year. Given the current
scenario, the company is confident of maintaining its growth by sustained focus
on quality, latest technology, product innovation, foray into precision
components business considering the latest market demand and competent
management of resources.
YEAR IN RETROSPECT:
The company's
foray into manufacturing of Job work related to precision engineering
components has been very successful. The facilities set up by the company are
world class and a number of large customers have approved the facility, which
has resulted in increased business opportunity for the company.
FUTURE PROSPECTS:
The Company has
equipped itself to leverage opportunities presented due to the Capital Goods
Industry, Automobile and Infrastructure Projects, which were performing well. The
Company's strength is high designing and engineering capability with low labor
cost. The Company has witnessed higher demand from all fronts, domestic as well
as from overseas. The order book position of the Company as compared to the
previous year has been encouraging and your Directors are sure that the future
prospects of the Company are bright.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
10364139 |
25/05/2012 |
1,500,000,000.00 |
SREI INFRASTRUCTURE FINANCE LIMITED |
VISHWAKARMA,86C,TOPSIA ROAD (SOUTH), KOLKATA, WEST BENGAL - 700046, INDIA |
B43057561 |
|
2 |
10304241 |
07/07/2011 |
150,000,000.00 |
SICOM LIMITED |
SOLITAIRE CORPORATE PARK, BUILDING NO. 4, GURU, HARGOVINDJI ROAD, ANDHERI (EAST), MUMBAI, MAHARASHTRA - 400093, INDIA |
B19642263 |
|
3 |
10316550 |
06/06/2011 |
400,000,000.00 |
STATE BANK OF INDIA |
MID-CORPORATE GROUP INDUSTRIAL FINANCE BRANCH, MARBLE ARCH,
RACE COURSE CIRCLE, VADODARA, GUJARAT - |
B19531623 |
|
4 |
10285351 |
21/04/2011 |
300,000,000.00 |
L & T FINANCE LIMITED |
L & T HOUSE, N.M. MARG, BALLARD ESTATE, MUMBAI, MAHARASHTRA - 400001, INDIA |
B12377370 |
|
5 |
10234400 |
24/07/2010 |
400,000,000.00 |
ALLAHABAD BANK |
RAJMAHAL ROAD BRANCH, VADODARA, GUJARAT - 390001, INDIA |
A92059419 |
|
6 |
10218383 |
23/04/2010 |
500,000,000.00 |
UCO BANK |
MID CORPORATE BRANCH, PIMPRI, PUNE, MAHARASHTRA - 411018, INDIA |
A84974344 |
|
7 |
10163476 |
03/05/2008 |
323,200,000.00 |
ALLAHABAD BANK |
RAJMAHAL ROAD BRANCH, RAJMAHAL ROAD, VADODARA, GUJARAT - 390001, INDIA |
A44042638 |
|
8 |
10050411 |
20/03/2007 |
3,742,750,000.00 |
IL&FS TRUST COMPANY LIMITED |
IL&FS FINANCIAL CENTRE, PLOT C-22, G BLOCK, BAND |
A13105580 |
|
9 |
80031350 |
25/11/2005 |
100,000,000.00 |
HDFC BANK LIMITED |
HDFC BANK HOUSE, SENAPATI BAPAT MARG LOWER PAREL, MUMBAI, MAHARASHTRA - 400013, INDIA |
- |
|
10 |
80031453 |
01/07/2003 |
68,000,000.00 |
INDIAN BANK |
DECCAN GYMKHANA, PUNE, MAHARASHTRA -411004, INDIA |
- |
|
11 |
90093907 |
20/03/2007 * |
3,742,750,000.00 |
INDIAN BANK |
DECCAN GYMKHANA BRANCH, PUNE, MAHARASHTRA - 411004, INDIA |
- |
|
12 |
90088389 |
16/03/2001 |
10,000,000.00 |
ASSOCIATES INDIA FINANCIAL SERVICES LTD. |
3, LSC; PUSHP VIHAR, NEW DELHI, DELHI - 110062, INDIA |
- |
|
13 |
80006795 |
26/09/2009 * |
954,800,000.00 |
UCO BANK |
MID CORPORATE BRANCH, PIMPRI, PUNE, MAHARASHTRA - 411018, INDIA |
A73452310 |
|
14 |
90085583 |
26/09/2008 * |
2,055,200,000.00 |
UCO BANK |
PIMPRI, PUNE, PUNE, MAHARASHTRA - 411018, INDIA |
A56046535 |
|
15 |
90085226 |
07/12/1999 |
72,700,000.00 |
ANDHRA BANK |
SACHAPIR STREET, CAMP, PUNE, MAHARASHTRA, INDIA |
- |
|
16 |
90084135 |
27/06/1994 |
12,000,000.00 |
EXPORT-IMPORT BANK OF INDIA |
CENTRE ONE, WORLD TRADE CENTRE; CUFFE PARADE, BOMBAY, MAHARASHTRA - 400005, INDIA |
- |
|
17 |
90084031 |
04/12/1993 |
4,000,000.00 |
SMALL INDUSTRIES DEVELOPMENT BANK OF INDIA |
VIKAS DEEP, 22; STATION ROAD, LUCKNOW, UTTAR PRADESH - 226019, INDIA |
- |
* Date of charge modification
FIXED ASSETS:
v Land
v Building
v Plant and Machinery
v Jigs and Fixtures
v Vehicles
v Workshop Equipments
v Computer Accessories
v Patterns
v Electrical Fittings
v Office Equipments
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 records 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.60.95 |
|
|
1 |
Rs.101.37 |
|
Euro |
1 |
Rs.84.89 |
INFORMATION DETAILS
|
Information
Gathered by : |
HET |
|
|
|
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
YES |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
34 |
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.