MIRA
INFORM REPORT
|
Report Date : |
06.11.2006 |
IDENTIFICATION
DETAILS
|
Name : |
ENGINEERED
CONSTRUCTION SYSTEMS |
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Registered Office : |
Puran
Nivas, 4th Floor, Arthur Bunder Road, Mumbai – 400005 |
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Country : |
India |
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Financials (as on) : |
31.03.2006
(Projected) |
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Date of Incorporation : |
1953 |
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Legal Form : |
Sole
Proprietory Concern |
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Line of Business : |
Subject
undertakes Construction Jobs for Commercial and Residential Premises Also
Engineer and Construction Company (Marine Work) – Shiping Comports |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD
40000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
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Comments : |
Subject
is a well – established concern having satisfactory track. Trade relations
are fair. General financial position is satisfactory. Payments are usually
correct and as per commitments. The concern
can be considered normal for business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered Office : |
Puran
Nivas, 4th Floor, Arthur Bunder Road, Mumbai – 400005 |
|
Tel. No.: |
91-22-22883685/22881014 |
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Fax No.: |
91-22-22881014/22885478 |
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E-Mail : |
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Website : |
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Area : |
1400
Sq. ft |
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Location : |
Rented |
SOLE PROPRIETOR
|
Name : |
Mr. K
D Rajani |
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Designation : |
Proprietor |
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Date of Birth/Age : |
59
Years |
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Qualification : |
B.
Tech (ITI Civil) |
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Experience : |
35
Years |
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Profile.; |
K. D.
Rajani is a graduate of the Indian institute of technology, Bombay where he
received a Bachelor of Technology Degree in Civil Engineering with First class
Honours. He specialised in structural engineering at Stanford of University,
USA and was awarded a master of science degree He has
worked in the USA in the capacity of project engineer for Lemessurier
Associates Inc., Cambridge – a leading structural consulting group. At Le
Messurier Associates he carried out the structural design of their
prestigious project which include the one million office facility for the
federal Reserve Bank of Boston, the $65m University of Massachusetts Medical
School and Hospital and numerous high – rise residential and commercial
buildings |
KEY EXECUTIVES
|
Name
: |
Mr.
Chaitanya Rajani |
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Designation
: |
Chief
Executives Officer |
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Date
of Birth/Age : |
30
Years |
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Qualification
: |
B. E.
(Civil) |
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Experience
: |
7
Years |
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Profile
|
C. K.
Rajani is a graduate of The University of Texas at Austin where he received a
bachelor of science degree in civil engineer and is conversant with all the
major technological advance in these fields He has
independently handle major projects in the capacity of project manger where
his responsibilities have been to allocate resources in the most timely and
cost – effective manner |
BUSINESS DETAILS
|
Line of Business : |
Subject
undertakes Construction Jobs for Commercial and Residential Premises Also
Engineer and Construction Company (Marine Work) – Shiping Comports |
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|
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Terms : |
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Selling : |
Contactor
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Purchasing : |
Contactor |
GENERAL
INFORMATION
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No. of Employees : |
40 |
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Bankers : |
ABN
Amro Bank, Sakhar, Nariman Point, Mumbai – 400021 |
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Facilities : |
The
concern do not enjoy facilities from its bankers |
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Banking Relations : |
-- |
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Associates/Subsidiaries : |
Rajani
Associates Address:
Puran Nivas, 4th Floor, Arthur Bunder Road, Mumbai – 400005 Line
of Business –Providing innovative Engineering Solutions for Infrastructure,
Industrial and Commercial Projects |
CAPITAL STRUCTURE
|
Capital
Investment : |
|
|
Owned : |
Rs.
10.000 Millions |
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Borrowed : |
-- |
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Total : |
Rs.
10.000 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
|
Particulars |
|
|
31.03.2006 (Projected) |
|
Sales Turnover |
|
|
277.508 |
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|
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|
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Profit/(Loss)
Before Tax |
|
|
28.181 |
|
Provision
for Taxation |
|
|
0.000 |
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Profit/(Loss)
After Tax |
|
|
28.181 |
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|
|
|
|
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Total Expenditure |
|
|
251.639 |
Expected
Sales March – 2007 – Rs. 950.000 Millions
KEY
RATIOS
|
PARTICULARS |
|
|
|
31.03.2006 (Projected) |
|
PAT / Total Income |
(%) |
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|
10.15 |
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Net
Profit Margin (PBT/Sales) |
(%) |
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|
10.15 |
LOCAL AGENCY
FURTHER INFORMATION
Trade
References
v
Wockhardt
Limited, Mumbai
v
International
Airport, Mumbai
v
Oberoi,
Mumbai
As Per
Website Details
Rajani
Associates is a full services engineering consulting firm that specializes in
engineering and project management tasks for the planning, design and
supervision of infrastructure, industrial, commercial, manufacturing,
residential and other facilities. The services offered by the firm include
v
Site
Screening Studies
v
Economic
and Technical Feasibility Studies
v
Master
Planning
v
Research
and Development
v
Preliminary
Engineering
v
Detail
Design, Contract Plans and Specifications
v
Construction
Planning, Scheduling and cost estimating
v
Materials
and equipment procurement and expediting
v
Construction
management, Inspection and Quality Control
The Engineering Team
Rajani
Associates has a team of some of the most talented designers in the rtade. Its
engineers are accomplished in design using all building materials. However
complex and elaborate have been some of its projects the group takes particular
pride in finding direct and seemingly simple solution
An
important element in the firm’s problem – solving capabilities is the use of
computer. The firm has developed its own specialised computer programs capable
of solving a variety of day to day problems and a generous use is made of this
facility to accomplish fast and accurate world. Any advancement in technology quickly finds a place in the
firm’s designs
Representative
Projects
Infrastructure
v
International
Airport Terminal Building, Mumbai
v
Flyover
Bridge, Mumbai Airport
v
Belapur
Railway Station & Commercial Complex, Mumbai
v
Container
Freight Station for Maersk Sealand, Nhava Sheva
v
Logistics
Facility for United Liner Agencies, Nhava Sheva
Commercial
v
Commercial
Complex at Phoenix Mills, Mumbai
v
G T
Hospital Complex, Mumbai
v
Ashoka
Shopping Center, Mumbai
v
Commercial
Building for MTNL at Cumballa Hill, Mumbai
v
Taj
Flight Kitchen, Mumbai and New Delhi
v
Tata
Pavilion, Trade Fair Grounds, New Delhi
v
Training
Centres for Reserve Bank of India
v
Headquarters
for South India Viscose, Coimbatore
v
Headquarters
for Wockhardt Limited, Bandra – Kurla Complex, Mumbai
v
Godrej
Millennium Commercial Complex, Pune
v
Wockhardt
Hospital at Juhu, Mumbai
Industrial
v
ONCB/PNCB
plant at Tarapur
v
Industrial
Complex for NRB Bearings, Aurangabad
v
Coromandel
Fertilizers, Cuddapah
v
ACC
Babcock Limited, Hyderabad
v
Township
for IPCL, Nagothane
Education
and Cultiral Facilities
v
Hare
Krishna Cultural Centre, Juhu
v
Institutional
Facilities for the Ministry of Education, Sultanate of Oman
v
Industrial
Training Institute, Mazagaon
v
Institute
for the Mentaily Retarded, Riyadh
Hotels
and Resorts
v
The
oberoi Cecil, Simla
v
The
Oberoi “Amar Vilas” , Agra
v
Hyatt
Regency Kathmandu, Nepal
v
Meditational
Hall & Guest House for Osho Commune, Pune
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 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.44.86 |
|
UK
Pound |
1 |
Rs.85.24 |
|
Euro |
1 |
Rs.56.99 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
|
|
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
|
|
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
|
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|