MIRA INFORM REPORT
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Report No. : |
325805 |
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Report Date : |
06.06.2015 |
IDENTIFICATION DETAILS
|
Name : |
MOHTA TRANSMISSION PRIVATE LIMITED |
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Registered
Office : |
53, Ezra Street, 1st Floor, Kolkata – 700001, West Bengal |
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Tel. No.: |
91-33-22352866 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
31.03.2009 |
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Com. Reg. No.: |
21-134418 |
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Capital
Investment / Paid-up Capital : |
Rs. 4.000 Million |
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CIN No.: [Company Identification
No.] |
U31400WB2009PTC134418 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
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PAN No.: [Permanent Account No.] |
Not Available |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Overhead Transmission and Line Materials |
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No. of Employees
: |
10 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a successor of partnership concern established in the year
1984 in the name of “Mohta Engineering Udyog”. Subsequently, the company was reconstituted
as private limited company having moderate track. The company has reported low reserve as well as profit margin during
FY 14. However, trade relations seem to be fair. Business is active. Payment
terms are reported as slow but correct. The company can be considered for business dealings with 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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
Not Available |
|
Rating |
Not Available |
|
Rating Explanation |
Not Available |
|
Date |
Not Available |
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
31-03-2013.
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Mr. Vineet Tiwari |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-33-22352866 |
|
Date : |
03.06.2015 |
LOCATIONS
|
Registered Office : |
53, Ezra Street, 1st Floor, Kolkata – 700001, West Bengal,
India |
|
Tel. No.: |
91-33-22352866 |
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Fax No.: |
91-33-22359874 |
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E-Mail : |
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|
|
|
Factory : |
Katalia Mokardh, Howrah – 711409, West Bengal, India |
DIRECTORS
As on: 30.09.2013
|
Name : |
Ms. Radha Mohta |
|
Designation : |
Director |
|
Address : |
53, Ezra Street, Kolkata –
700001, West Bengal, India |
|
Date of Birth/Age : |
10.09.1954 |
|
Date of Appointment : |
31.03.2009 |
|
DIN No.: |
02409919 |
|
|
|
|
Name : |
Mr. Raghvendra Mohta |
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Designation : |
Director |
|
Address : |
53, Ezra Street, Kolkata –
700001, West Bengal, India |
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Date of Birth/Age : |
18.03.1976 |
|
Date of Appointment : |
01.04.2010 |
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DIN No.: |
02409920 |
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|
|
|
Name : |
Mr. Girdhar Singh Mohta |
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Designation : |
Director |
|
Address : |
53, Ezra Street, Kolkata –
700001, West Bengal, India |
|
Date of Birth/Age : |
10.10.1938 |
|
Date of Appointment : |
31.03.2009 |
|
DIN No.: |
02409921 |
KEY EXECUTIVES
|
Name : |
Mr. Vineet Tiwari |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2013
|
Names of Shareholders |
No. of Shares |
%age
holding |
|
Radha Mohta |
40000 |
20.00 |
|
Raghvendra Mohta |
40000 |
20.00 |
|
Girdhar Singh Mohta |
120000 |
60.00 |
|
Total
|
200000 |
100.0 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2013
|
Category |
Percentage |
|
Directors or relatives of directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Overhead Transmission and Line Materials |
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Products : |
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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 : |
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Selling : |
L/C, Cheque and Credit |
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Purchasing : |
L/C, Cheque and Credit |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Wholesalers, Retailers and Others
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No. of Employees : |
10 (Approximately) |
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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 : |
S. K. Bhartia and Associates Chartered Accountants |
|
Address : |
39, Strand Road, 4th Floor, Room No. 75, Kolkata – 700001,
West Bengal, India |
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Tel. No.: |
91-33-22102670 / 22310391 |
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Fax No.: |
91-33-22310364 |
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E-Mail : |
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PAN No.: |
ACNFS9914Q |
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Memberships : |
-- |
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Collaborators : |
-- |
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Associates/Subsidiaries : |
--- |
CAPITAL STRUCTURE
After:
30.09.2013
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.10/- each |
Rs. 2.000 Million |
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Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.10/- each |
Rs. 2.000
Million |
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As on: 31.03.2014
Authorized Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
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|
|
|
|
400000 |
Equity Shares |
Rs.10/- each |
Rs. 4.000 Million |
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Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
400000 |
Equity Shares |
Rs.10/- each |
Rs. 4.000
Million |
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|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES
OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
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|
|
|
(1)Shareholders' Funds |
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|
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(a) Share Capital |
4.000 |
2.000 |
2.000 |
|
(b) Reserves & Surplus |
3.685 |
1.541 |
1.449 |
|
(c) Money received
against share warrants |
0.000 |
0.000 |
0.000 |
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|
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|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
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Total Shareholders’ Funds (1) + (2) |
7.685 |
3.541 |
3.449 |
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(3) Non-Current
Liabilities |
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|
(a) long-term
borrowings |
2.045 |
1.267 |
0.000 |
|
(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) |
2.045 |
1.267 |
0.000 |
|
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|
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(4) Current Liabilities |
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|
|
|
(a) Short
term borrowings |
3.002 |
2.810 |
9.856 |
|
(b) Trade
payables |
30.016 |
19.915 |
26.385 |
|
(c) Other
current liabilities |
0.963 |
3.069 |
0.082 |
|
(d) Short-term
provisions |
0.406 |
0.228 |
0.368 |
|
Total Current
Liabilities (4) |
34.387 |
26.022 |
36.691 |
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TOTAL |
44.117 |
30.830 |
40.140 |
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II.
ASSETS |
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(1) Non-current assets |
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(a) Fixed
Assets |
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|
(i)
Tangible assets |
2.026 |
2.119 |
1.962 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii) Capital
work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax
assets (net) |
0.100 |
0.079 |
0.049 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other
Non-current assets |
0.032 |
0.000 |
0.423 |
|
Total Non-Current
Assets |
2.158 |
2.198 |
2.434 |
|
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(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
9.364 |
12.416 |
5.558 |
|
(c) Trade
receivables |
26.201 |
8.293 |
23.964 |
|
(d) Cash
and cash equivalents |
0.109 |
0.075 |
0.106 |
|
(e)
Short-term loans and advances |
6.285 |
7.848 |
8.078 |
|
(f) Other
current assets |
0.000 |
0.000 |
0.000 |
|
Total
Current Assets |
41.959 |
28.632 |
37.706 |
|
|
|
|
|
|
TOTAL |
44.117 |
30.830 |
40.140 |
PROFIT
& LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
108.564 |
63.119 |
89.876 |
|
|
|
Other Income |
0.256 |
0.275 |
0.984 |
|
|
|
TOTAL (A) |
108.820 |
63.394 |
90.860 |
|
|
|
|
|
|
|
|
Less |
EXPENSES
(B) |
106.578 |
61.789 |
89.517 |
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|
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|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2.242 |
1.605 |
NA |
|
|
|
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|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
1.317 |
0.954 |
NA |
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.925 |
0.651 |
1.343 |
|
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|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.425 |
0.483 |
0.357 |
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|
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|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.500 |
0.168 |
0.986 |
|
|
|
|
|
|
|
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|
Less |
TAX (H) |
0.156 |
0.076 |
0.263 |
|
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|
|
PROFIT AFTER TAX
(G-H) (I) |
0.344 |
0.092 |
0.723 |
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1.541 |
1.449 |
0.726 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
1.885 |
1.541 |
1.449 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.86 |
0.23 |
1.81 |
|
CURRENT MATURITIES OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Current Maturities of Long term debt |
0.236 |
0.236 |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT / Sales) |
(%) |
0.32 |
0.15 |
0.80 |
|
|
|
|
|
|
|
Operating Profit Margin (PBIDT/Sales) |
(%) |
2.07 |
2.54 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.14 |
0.55 |
2.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.07 |
0.05 |
0.29 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.69 |
1.22 |
2.86 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.22 |
1.10 |
1.03 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
2.000 |
2.000 |
4.000 |
|
Reserves & Surplus |
1.449 |
1.541 |
3.685 |
|
Money received against share
warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net
worth |
3.449 |
3.541 |
7.685 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
1.267 |
2.045 |
|
Short term borrowings |
9.856 |
2.810 |
3.002 |
|
Current maturities of
long-term debts |
NA |
0.236 |
0.236 |
|
Total
borrowings |
9.856 |
4.313 |
5.283 |
|
Debt/Equity
ratio |
2.858 |
1.218 |
0.687 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
89.876 |
63.119 |
108.564 |
|
|
|
(29.771) |
71.999 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Sales |
89.876 |
63.119 |
108.564 |
|
Profit |
0.723 |
0.092 |
0.344 |
|
|
0.80% |
0.15% |
0.32% |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check list by
info agents |
Available in
Report (Yes/No) |
|
1 |
Year of establishment |
Yes |
|
2 |
Constitution of the entity -Incorporation
details |
Yes |
|
3 |
Locality of the entity |
Yes |
|
4 |
Premises details |
No |
|
5 |
Buyer visit details |
-- |
|
6 |
Contact numbers |
Yes |
|
7 |
Name of the person contacted |
Yes |
|
8 |
Designation of contact person |
Yes |
|
9 |
Promoter’s background |
Yes |
|
10 |
Date of Birth of Proprietor / Partners /
Directors |
Yes |
|
11 |
Pan Card No. of Proprietor / Partners |
No |
|
12 |
Voter Id Card No. of Proprietor / Partners |
No |
|
13 |
Type of business |
Yes |
|
14 |
Line of Business |
Yes |
|
15 |
Export/import details (if applicable) |
No |
|
16 |
No. of employees |
Yes |
|
17 |
Details of sister concerns |
No |
|
18 |
Major suppliers |
No |
|
19 |
Major customers |
No |
|
20 |
Banking Details |
Yes |
|
21 |
Banking facility details |
Yes |
|
22 |
Conduct of the banking account |
-- |
|
23 |
Financials, if provided |
Yes |
|
24 |
Capital in the business |
Yes |
|
25 |
Last accounts filed at ROC, if applicable |
Yes |
|
26 |
Turnover of firm for last three years |
Yes |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
Yes |
|
30 |
Major shareholders, if available |
Yes |
|
31 |
External Agency Rating, if available |
No |
|
32 |
Litigations that the firm/promoter
involved in |
-- |
|
33 |
Market information |
-- |
|
34 |
Payments terms |
Yes |
|
35 |
Negative Reporting by Auditors in the
Annual Report |
No |
UNSECURED LOAN
|
Particulars |
As on 31.03.2014 |
As on 31.03.2013 |
|
|
(Rs. In Million) |
|
|
LONG TERM
BORROWINGS: |
|
|
|
From related parties |
1.927 |
0.965 |
|
Total |
1.927 |
0.965 |
PERFORMANCE
The Company has outperformed the average industry growth despite sluggish economic growth in almost all sectors of economy including construction. During the year, gross revenue increased from Rs. 108.564 Million in the previous years to Rs. 63.119 Million in the current year scaling a growth of 72%. However, the profit margin remained under pressure mainly due to substantial increase in cost of Fuel and some of the raw materials along with the limited ability to pass on this cost burden to the end consumer due to competition further this year was under capacity expansion mode which has also affected the growth in profit. However having good order in hand and unit fully operational, handsome results are expected in the year to come.
INDEX OF CHARGES: NO
CHARGES EXIST FOR THE COMPANY
|
S.No. |
Charge ID |
Date of Charge Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number (SRN) |
|
1 |
10211721 |
13/04/2010 |
5,500,000.00 |
STATE BANK OF BIKANER & JAIPUR |
VIVEKANANDA ROAD BRANCH, 206/1F BIDHAN SARANI, KOLKATA, WEST BENGAL - 700006, INDIA |
A83066795 |
FIXED ASSETS
- Land
- Dies and
pattern
- Plant and
machinery
- Electric
installation
- Inverter
- Fire
extinguisher
- Furniture
- Air
conditioner
- Computer
- Motor car
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.63.89 |
|
|
1 |
Rs.97.98 |
|
Euro |
1 |
Rs.71.82 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ART |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILITY |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.