MIRA INFORM REPORT
|
Report No. : |
302414 |
|
Report Date : |
14.01.2015 |
IDENTIFICATION DETAILS
|
Name : |
GANDHI
AUTOMATIONS PRIVATE LIMITED (w.e.f. 24.03.2008) |
|
|
|
|
Formerly Known
As : |
GANDHI ENTRANCE AUTOMATIONS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
2nd Floor, Chawda Commercial Centre, Chincholi Bunder, Link
Road, Malad (West), Mumbai – 400064, Maharashtra |
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|
Country : |
India |
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|
Financials (as
on) : |
31.03.2013 |
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|
|
|
Date of
Incorporation : |
21.11.2003 |
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|
|
Com. Reg. No.: |
11-143240 |
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|
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Capital
Investment / Paid-up Capital : |
Rs. 9.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31909MH2003PTC143240 |
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|
|
|
IEC No.: |
Not Available |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMG08978E |
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|
|
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PAN No.: [Permanent Account No.] |
AACCG0522G |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Manufacture of Rolling Shutters, Sliding Gate and Entrance Automation
Systems |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (48) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Usually correct |
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|
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having satisfactory track record. As per Registrar of companies the date of balance sheet i.e.
financials field is shown as 31st March 2014 but the document
related to the financials for the year 2014 are not available from any
sources. As per the available financial of 2013 i.e. (Balance Sheet), financial
position of the company is decent. Trade relations are reported to be fair. Business is active. Payment
term are reported to be usually correct. The company can be considered for normal business dealings at usual
trade terms and conditions. Note : Profit and loss account for the year 2012 and 2013 are not
available from any source. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
Long Term Rating = BBB |
|
Rating Explanation |
Have moderate degree of safety and carry moderate credit risk. |
|
Date |
20.06.2014 |
|
Rating Agency Name |
CRISIL |
|
Rating |
Short Term Rating = A3+ |
|
Rating Explanation |
Have moderate degree of safety and carry high credit risk. |
|
Date |
20.06.2014 |
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
31-03-2014.
INFORMATION DENIED BY
|
Name : |
Ms. Chitra |
|
Designation : |
Account Manager |
|
Contact No.: |
91-22-66720200 |
|
Date : |
10.01.2015 |
LOCATIONS
|
Registered Office : |
2nd Floor, Chawda Commercial Centre, Chincholi Bunder, Link
Road, Malad (West), Mumbai – 400064, Maharashtra, India |
|
Tel. No.: |
91-22-66720200/ 66720300 / 224 / 234 (200 lines) |
|
Fax No.: |
91-22-66720201 |
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E-Mail : |
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|
Website : |
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|
Location : |
Owned |
DIRECTORS
As on 30.09.2014
|
Name : |
Mr. Samir Sureshchandra Gandhi |
|
Designation : |
Whole Time Director |
|
Address : |
E-1501, Kukreja Palace II, |
|
Date of Birth/Age : |
05.10.1968 |
|
Date of Appointment : |
21.11.2003 |
|
DIN No.: |
00040981 |
|
|
|
|
Name : |
Mr. Kartik Sureshchandra Gandhi |
|
Designation : |
Whole Time Director |
|
Address : |
E-1301, Kukreja Palace II, |
|
Date of Birth/Age : |
10.09.1974 |
|
Date of Appointment : |
21.11.2003 |
|
DIN No.: |
00055915 |
KEY EXECUTIVES
|
Name : |
Ms. Chitra |
|
Designation : |
Account Manager |
MAJOR SHAREHOLDERS
As on 30.09.2014
|
Names of Shareholders |
|
No. of Shares |
|
Samir Sureshchandra Gandhi Kartik Sureshchandra Gandhi |
|
209000 |
|
Samir Sureshchandra Gandhi Nishita Samir Gandhi |
|
133000 |
|
Nishita Samir Gandhi Samir Sureshchandra Gandhi |
|
90250 |
|
Kartik Sureshchandra Gandhi Samir Sureshchandra Gandhi |
|
209000 |
|
Kartik Sureshchandra Gandhi Hiral Kartik Gandhi |
|
133000 |
|
Hiral Kartik Gandhi Kartik Sureshchandra Gandhi |
|
90250 |
|
Ansuya Sureshchandra Gandhi Samir Sureshchandra Gandhi Kartik Sureshchandra Gandhi |
|
500 |
|
Hiral Kartik Gandhi |
|
21250 |
|
Jinali Samir Gandhi |
|
21250 |
|
Manav Samir Gandhi (Minor) |
|
21250 |
|
Sana Kartik Gandhi (Minor) |
|
21250 |
|
|
|
|
|
Total |
|
950000 |
As on 30.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacture of Rolling Shutters, Sliding Gate and Entrance Automation
Systems |
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|
Products : |
Not Available |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
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Imports : |
Not Divulged |
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Terms : |
Not Divulged |
PRODUCTION STATUS = NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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Bankers : |
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Auditors : |
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|
Name : |
V.J. SHAH and Company Chartered Accountants |
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Address : |
19/21, Bora Bazar Street, 1st Floor, Fort, Mumbai – 400001,
Maharashtra, India |
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PAN No.: |
AAAFV0230F |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Associates/Subsidiaries : |
Not Available |
CAPITAL STRUCTURE
As on: 30.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
950000 |
Equity Shares |
Rs.10/- each |
Rs. 9.500
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 |
9.500 |
9.500 |
1.000 |
|
(b) Reserves & Surplus |
171.624 |
126.776 |
99.337 |
|
(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) |
181.124 |
136.276 |
100.337 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) long-term
borrowings |
34.040 |
28.093 |
29.384 |
|
(b) Deferred tax liabilities (Net) |
0.000 |
0.000 |
0.000 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
34.040 |
28.093 |
29.384 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term
borrowings |
94.090 |
90.501 |
77.692 |
|
(b) Trade payables |
34.165 |
26.595 |
45.913 |
|
(c) Other current
liabilities |
50.403 |
37.286 |
47.569 |
|
(d) Short-term
provisions |
17.181 |
9.595 |
6.225 |
|
Total Current
Liabilities (4) |
195.839 |
163.977 |
177.399 |
|
|
|
|
|
|
TOTAL |
411.003 |
328.346 |
307.120 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
126.975 |
112.963 |
101.611 |
|
(ii) Intangible Assets |
0.418 |
0.636 |
0.059 |
|
(iii) Capital
work-in-progress |
0.000 |
1.446 |
4.948 |
|
(iv) Intangible assets under development |
0.294 |
0.295 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.013 |
1.895 |
|
(c) Deferred tax
assets (net) |
0.054 |
0.291 |
0.503 |
|
(d) Long-term Loan and Advances |
46.798 |
4.206 |
3.819 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
174.539 |
119.850 |
112.835 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
127.390 |
95.851 |
87.898 |
|
(c) Trade receivables |
86.199 |
92.468 |
84.727 |
|
(d) Cash and cash
equivalents |
10.517 |
6.563 |
8.947 |
|
(e) Short-term loans
and advances |
12.133 |
13.548 |
12.491 |
|
(f) Other current
assets |
0.225 |
0.066 |
0.222 |
|
Total Current Assets |
236.464 |
208.496 |
194.285 |
|
|
|
|
|
|
TOTAL |
411.003 |
328.346 |
307.120 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
|
|
Income |
|
|
NA |
|
|
|
Other Income |
|
|
NA |
|
|
|
TOTAL |
|
|
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
|
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
|
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
|
38.287 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
|
NA |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
|
NA |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Commission Received |
|
|
29.324 |
|
|
|
Target Bonus Received |
|
|
|
|
|
TOTAL EARNINGS |
|
|
29.324 |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
|
|
135.828 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
382.87 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.71 |
0.87 |
1.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.21 |
1.27 |
1.10 |
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 |
1.000 |
9.500 |
9.500 |
|
Reserves & Surplus |
99.337 |
126.776 |
171.624 |
|
Net
worth |
100.337 |
136.276 |
181.124 |
|
|
|
|
|
|
long-term borrowings |
29.384 |
28.093 |
34.040 |
|
Short term borrowings |
77.692 |
90.501 |
94.090 |
|
Total
borrowings |
107.076 |
118.594 |
128.130 |
|
Debt/Equity
ratio |
1.067 |
0.870 |
0.707 |
LOCAL AGENCY FURTHER INFORMATION
CURRENT MATURITY
OF LONG TERM DEBT = 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 |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last Three years |
No |
|
12] |
Profitability for last one 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 |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
NOTE:
The registered office of the company has been shifted from 22, Nirman
Industrial Estate, Chincholi Bunder Link Road, Malad (West), Mumbai – 400 064,
Maharashtra to the present address w.e.f. 22.09.2008.
INDEX OF CHARGES
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10516348 |
30/07/2014 |
1,257,321.00 |
Bank Of Maharashtra |
R. B. MEHTA MARG, GHATKOPAR (EAST), MUMBAI, Maharashtra - 400077, INDIA |
C17754219 |
|
2 |
10310755 |
28/01/2012 * |
10,500,000.00 |
BANK OF MAHARASHTRA |
R. B. MEHTA MARG, GHATKOPAR (EAST), MUMBAI, Maharashtra - 400077, INDIA |
B32734766 |
|
3 |
10242645 |
27/08/2010 |
7,100,000.00 |
CITIBANK N. A. |
CITITOWER, DR. S. S. RAO ROAD,, PAREL, MUMBAI, Maharashtra - 400012, INDIA |
A92938364 |
|
4 |
10232909 |
30/06/2010 |
22,500,000.00 |
BANK OF MAHARASHTRA |
R. B. MEHTA MARG, GHATKOPAR (EAST), MUMBAI, Maharashtra - 400077, INDIA |
A90033119 |
|
5 |
80002118 |
22/03/2013 * |
199,800,000.00 |
BANK OF MAHARASHTRA |
Ghatkopar East Branch, Neelkanth Krupa,, R. B. Mehta Marg,
Ghatkopar (East),, Mumbai, Maharashtra - |
B73797805 |
* Date of charge modification
FIXED ASSETS:
· Air Conditioner
· Computers and Accessories
· Furniture and Fixtures
· Plant and Machinery
· Office Equipments
· Telephone EPABX
· Motor Bikes
· Mobile Phones
· Office Premises
· Motor Cars
· Electrification
· Capital WIP (Flat)
· Capital WIP (Electrical Generator)
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.62.10 |
|
|
1 |
Rs.94.09 |
|
Euro |
1 |
Rs.73.42 |
INFORMATION DETAILS
|
Information
Gathered by : |
HNA |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILITY |
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER
|
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
48 |
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.