MIRA INFORM REPORT
|
Report No. : |
339183 |
|
Report Date : |
04.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
FORTIUS PRECISION ENGINEERING PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
717, Siddharth Complex, R.C. Dutt Road, Alkapuri, Vadodara – 390 007, Gujarat |
|
Tel. No.: |
91-265-2339470 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2014 |
|
|
|
|
Date of
Incorporation : |
01.01.2014 |
|
|
|
|
Com. Reg. No.: |
04-078096 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.0.500 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U28112GJ2014PTC078096 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
Not Available |
|
|
|
|
PAN No.: [Permanent Account No.] |
Not Available |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in the business of
manufacturing of Transformer
Tanks. |
|
|
|
|
No. of Employees
: |
Information declined by the Management. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is relative new company incorporated in the year 2014 and it
is having a moderate track record. Mr. Ashish
B. Pathak, Director of the company has denied to provide information to us. The
rating is constrained on company’s limited track record of operations and
small networth base marked by its negative reserves resulting from
pre-operative expenses. However, trade relations are improving. Business is active, Payment
terms are slow but correct. The company can be considered for business dealing with some
caution. Note: Profit & Loss A/c is not available for the current year i.e. 2014.
|
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 DECLINED BY
|
Name : |
Mr.
Ashish B. Pathak |
|
Designation : |
Director |
|
Contact No.: |
91-8156091999 |
|
Date : |
02.09.2015 |
LOCATIONS
|
Registered Office : |
717, Siddharth Complex, R.C. Dutt Road, Alkapuri, Vadodara – 390 007, Gujarat, India |
|
Tel. No.: |
91-265-2339470 |
|
Mobile No.: |
91-8156091999 (Mr.
Ashish B. Pathak) |
|
Fax No.: |
91-265-2339471 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Plant : |
Block No.173, At Village Luna, Taluka Padra, On Vadodara -
Jambusar Highway, District Vadodara – 391 440, Gujarat, India |
DIRECTORS
AS ON 15.09.2014
|
Name : |
Ms.
Rupal Ashish Pathak |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
401,
Fortune Tower, Haribhakti Colony, Race Course, Vadodara – 390 007, Gujarat,
India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
28.05.1971 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.01.2014 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
01607548 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other
Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr.
Ashish Bhavsukhray Pathak |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Address : |
401,
Fortune Tower, Haribhakti Colony, Race Course, Vadodara – 390 007, Gujarat,
India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
26.10.1969 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
01.01.2014 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
DIN No.: |
00739042 |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Other
Directorship :
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 15.09.2014
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Ashish Bhavsukhray
Pathak |
694000 |
99.14 |
|
Rupal Ashish Pathak |
5000 |
0.72 |
|
Anahita Ashish Pathak |
500 |
0.07 |
|
Anooshka Ashish Pathak |
500 |
0.07 |
|
Total |
700000 |
100.00 |
AS ON 15.09.2014
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in the business of
manufacturing of Transformer
Tanks. |
|
|
|
|
Products : |
Transformer
Tanks |
|
|
|
|
Brand Names : |
Not Available |
|
|
|
|
Agencies Held : |
Not Available |
|
|
|
|
Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
|
|
Selling : |
Not Divulged |
|
|
|
|
Purchasing : |
Not Divulged |
PRODUCTION STATUS: NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Customers : |
|
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
No. of Employees : |
Information declined by the Management. |
||||||||||||||||||||||
|
|
|
||||||||||||||||||||||
|
Bankers : |
|
|
Auditors : |
|
|
Name : |
Mukund and Rohit Chartered Accountants |
|
Address : |
No.8 , 2nd Floor, Tower E, Avishkar, Old Padra Road,
Vadodara – 390 007, Gujarat, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACFM4355J |
|
|
|
|
Memberships : |
Not Available |
|
|
|
|
Collaborators : |
Not Available |
|
|
|
|
Associates/Subsidiaries : |
Not Divulged |
CAPITAL STRUCTURE
AS ON 15.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
700000 |
Equity Shares |
Rs.10/- each |
Rs.7.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
700000 |
Equity Shares |
Rs.10/- each |
Rs.7.000
million |
|
|
|
|
|
AS ON 31.03.2014
Authorised Capital : Not Available
Issued, Subscribed & Paid-up Capital : Rs.0.500
million
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2014 |
|
|
|
|
|
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
|
0.500 |
|
(b) Reserves &
Surplus |
|
|
(0.255) |
|
(c) Money received
against share warrants |
|
|
0.000 |
|
|
|
|
|
|
(2) Share Application
money pending allotment |
|
|
0.000 |
|
Total Shareholders’ Funds
(1) + (2) |
|
|
0.245 |
|
|
|
|
|
|
(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
|
|
11.255 |
|
(b) Deferred tax
liabilities (Net) |
|
|
0.000 |
|
(c) Other long term
liabilities |
|
|
0.000 |
|
(d) Long-term provisions |
|
|
0.000 |
|
Total Non-current
Liabilities (3) |
|
|
11.255 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short term borrowings |
|
|
0.000 |
|
(b) Trade payables |
|
|
0.173 |
|
(c) Other current
liabilities |
|
|
0.000 |
|
(d) Short-term provisions |
|
|
0.000 |
|
Total Current Liabilities
(4) |
|
|
0.173 |
|
|
|
|
|
|
TOTAL |
|
|
11.673 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed Assets |
|
|
|
|
(i) Tangible assets |
|
|
0.098 |
|
(ii) Intangible Assets |
|
|
0.000 |
|
(iii) Capital
work-in-progress |
|
|
2.508 |
|
(iv) Intangible assets
under development |
|
|
0.000 |
|
(b) Non-current
Investments |
|
|
0.000 |
|
(c) Deferred tax assets (net) |
|
|
0.108 |
|
(d) Long-term Loan and Advances |
|
|
0.000 |
|
(e) Other Non-current
assets |
|
|
0.000 |
|
Total Non-Current Assets |
|
|
2.714 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a) Current investments |
|
|
0.000 |
|
(b) Inventories |
|
|
0.000 |
|
(c) Trade receivables |
|
|
0.000 |
|
(d) Cash and cash
equivalents |
|
|
7.921 |
|
(e) Short-term loans and
advances |
|
|
0.978 |
|
(f) Other current assets |
|
|
0.060 |
|
Total Current Assets |
|
|
8.959 |
|
|
|
|
|
|
TOTAL |
|
|
11.673 |
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2014 |
||
|
Current maturities of long-term debt |
|
|
NA |
|
Cash generated
from operations |
|
|
NA |
|
Net cash flows from (used in) operations |
|
|
NA |
KEY
RATIOS
|
PARTICULARS |
|
|
|
31.03.2014 |
|
Debt Equity Ratio (Total Debt /Networth) |
|
|
|
45.94 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
51.79 |
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 |
No |
|
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 |
No |
|
27 |
Reasons for variation <> 20% |
-- |
|
28 |
Estimation for coming financial year |
No |
|
29 |
Profitability for last three years |
No |
|
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 |
No |
|
35 |
Negative Reporting by Auditors in the Annual
Report |
No |
INDEX
OF CHARGES:
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10505058 |
15/05/2014 |
18,000,000.00 |
DENA BANK |
MAKARPURA ROAD BRANCH,
VIMAL SOCIETY, VADODARA, GUJARAT - 390014, INDIA |
C08245953 |
|
2 |
10505047 |
15/05/2014 |
18,000,000.00 |
DENA BANK |
MAKARPURA ROAD BRANCH,
VIMAL SOCIETY, VADODARA, GUJARAT - 390014, INDIA |
C08248189 |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
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.66.23 |
|
UK Pound |
1 |
Rs.101.22 |
|
Euro |
1 |
Rs.74.33 |
INFORMATION DETAILS
|
Information
Gathered by : |
GYT |
|
|
|
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILITY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
|
26 |
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.