MIRA
INFORM REPORT
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Report Date : |
21.08.2007 |
IDENTIFICATION DETAILS
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Name : |
CETHAR CONSULTING ENGINEERS PRIVATE LIMITED |
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Registered Office : |
No. 4, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
28.10.2005 |
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Com. Reg. No.: |
18-57913 |
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CIN No.: [Company
Identification No.] |
U74910TN2005PTC057913 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEC06064C |
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Legal Form : |
Private Limited Liability Company.
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Line of Business : |
To provide consultancy and inspection services in energy related
projects. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
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Maximum Credit Limit : |
USD 70000 |
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Status : |
Small company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company having satisfactory track records.
Directors are reported as experienced and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are however
reported as usually correct and as per commitments. The company can be considered for small business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
No. 4, |
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Tel. No.: |
91-43-12484327 |
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E-Mail : |
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Corporate Office : |
672/476, 8th Floor, |
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Tel. No.: |
91-44-24351606 |
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Fax No. : |
91-44-24351607 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. V. K. Gopinath |
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Designation : |
Managing Director |
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Name : |
Mr. A. Ekambaram |
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Designation : |
Director [Operations] |
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Name : |
Mr. S. Balagurunathan |
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Designation : |
Director [Technical] |
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Name : |
Mr. K. Subburaj |
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Designation : |
Chairman |
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Address : |
24, |
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Date of Appointment : |
28.10.2005 |
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Date of Birth/Age : |
Mr. N. K. Pothiraaj |
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Qualification : |
Director |
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Experience : |
19 & 20, |
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Date of Appointment : |
28.10.2005 |
KEY EXECUTIVES
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Name : |
Mr. D.N.S.V. Prasada Rao |
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Designation : |
Vice President [Mechanical] |
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Name : |
Mr. S. Manivel |
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Designation : |
Vice President [Electrical, Instrumentation and Control] |
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Name : |
Mr. P. Vijaya Kumar |
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Designation : |
Dy. Chief Engineer [Mechanical] |
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Name : |
Mr. N. Jayaraman |
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Designation : |
Dy. Chief Engineer [Mechanical] |
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Name : |
Mr. S. Franklin Prabhu |
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Designation : |
Dy. Chief Engineer [Mechanical] |
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Name : |
Mr. Venkataraman |
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Designation : |
General Manager [Mechanical – Piping] |
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Name : |
Mr. N. R. Nair |
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Designation : |
Vice President [Civil and Structural] |
SHAREHOLDING PATTERN
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Bodies corporate |
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99.00 |
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Directors of relatives of directors |
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1.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
To provide consultancy and inspection services in energy related
projects. |
GENERAL INFORMATION
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Bankers : |
Not Available |
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Auditors : |
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Name : |
L. Pandurangan and Company Chartered Accountants |
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Address : |
Plot No. 29, Vyasaraya Nagar, Srirangam, Trichy – 620006, |
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Parent Company : |
Cethar Vesells Private Limited CIN No.: U28991TN1981PTC009067 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100,000 |
Equity Shares |
Rs. 100/- each |
Rs. 10.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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100,000 |
Equity Shares |
Rs. 100/- each |
Rs. 10.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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10.000 |
0.100 |
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2] Share Application Money |
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3.200 |
0.000 |
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3] Reserves & Surplus |
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5.373 |
0.000 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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18.573 |
0.100 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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18.573 |
0.100 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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17.924 |
7.948 |
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Capital work-in-progress |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.000 |
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Sundry Debtors |
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9.171 |
0.000 |
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Cash & Bank Balances |
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1.411 |
0.359 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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4.843 |
0.512 |
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Total
Current Assets |
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15.425 |
0.871 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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15.432 |
11.892 |
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Provisions |
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0.000 |
1.080 |
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Total
Current Liabilities |
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15.432 |
12.972 |
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Net Current Assets |
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[0.007] |
[12.101] |
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MISCELLANEOUS EXPENSES |
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0.656 |
4.253 |
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TOTAL |
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18.573 |
0.100 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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39.575 |
-- |
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Other Income |
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-- |
-- |
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Total Income |
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39.575 |
-- |
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Profit/(Loss) Before Tax |
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8.100 |
[3.646] |
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Provision for Taxation |
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2.727 |
-- |
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Profit/(Loss) After Tax |
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5.373 |
[3.646] |
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Expenditures : |
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Salaries, Wages, Bonus, etc. |
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0.000 |
2.397 |
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Repair and Maintenance |
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0.000 |
0.272 |
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Rent |
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0.000 |
0.441 |
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Printing and Stationery |
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0.000 |
0.062 |
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Postage, Telephone and Telex |
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0.000 |
0.057 |
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Traveling |
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0.000 |
0.355 |
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Advertisement and Sales Promotion |
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0.000 |
0.057 |
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Payment to Auditors |
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0.000 |
0.003 |
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Depreciation |
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3.958 |
0.000 |
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Other Expenditure |
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27.517 |
0.002 |
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Total Expenditure |
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31.475 |
3.646 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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13.58 |
-- |
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Net Profit Margin (PBT/Sales) |
(%) |
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20.47 |
-- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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24.29 |
[41.34] |
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Return on Investment (ROI) (PBT/Networth) |
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0.44 |
[36.46] |
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Debt Equity Ratio (Total Liability/Networth) |
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0.83 |
129.72 |
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Current Ratio (Current Asset/Current Liability) |
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1.00 |
0.07 |
LOCAL AGENCY FURTHER INFORMATION
Fixed Assets
- Electronic
Data Processing Equipment
- Furniture and
Fixture
- Vehicles
As per website
Profile
Subject is an
independent Consultancy Organisation incorporated in the year 2005 to provide
comprehensive consultancy services related to Power Projects in
In providing the best possible services to the clients from
concept to completion of the projects, CCE utilizes the state of the art
technology and becomes a part of the client’s team in ensuring minimum cycle
time and optimum cost.
Complete solution for Design, Detailed Engineering, Project
Management, Inspection, Construction Supervision and Assistance during
Commissioning is provided by CCE for small, medium and large capacity Utilities
and Power Projects in Steel, Cement, Textiles, Chemicals, Petrochemicals,
Sugar, Pulp and Paper Industries.
CCE’s modern office located in Temple Tower, in the heart of
Chennai, has all the infrastructure complete with Computational Facilities and
Engineering Softwares to provide solutions to complex problems related to
Utilities and Industrial Power Projects.
Subject
is managed by the following professionals:
Mr. V. K. Gopinath, Managing Director
Mr. V. K. Gopinath, a graduate in Electrical Engineering,
has four (4) decades of experience in the power Industry, a large part of which
was in the Fossil Boilers area. He had served as the Product Manager for Fossil
Boilers in the High Pressure Boilers Plant at Trichy. Before retirement, he was
the Executive Director of BHEL, Trichy.
Mr. S. Balagurunathan – Director [Technical]
Mr. S. Balagurunathan has more than three (3) decades of
experience in the power Plant Engineering. He is a Post Graduate in Power Plant
Engineering. He has been closely associated with the Engineering and Product
Development of Thermal Plant Equipment especially in the Air Quality Control
area. He was the Executive Director of Corporate R&D Division of Bharat
Heavy Electrical Limited,
Mr. A. Ekambaram – Director [Operations]
Mr. A. Ekambaram has more than three (3) decades of
experience in the power Plant Engineering. He is a Post Graduate in Mechanical
Engineering. He was involved in the design, detailed engineering of medium and
large capacity power plants. He has served in Bharat Heavy Electrical Limited
and Foster Wheeler. Previously he was the Executive Director of Desein Private
Ltd.
Mr. D.N.S.V. Prasada Rao – Vice President [Mechanical]
Mr. Prasada Rao has more than three (3) decades of experience
in Boiler Industry. He is a Graduate in Mechanical Engineering. His experience
covers Engineering of Large and Medium Capacity Utility Boilers, Atmospheric
Fluidized Bed Combustors, Circulating Fluidized Bed Combustors, Chemical &
Waste Hear Recovery Boilers. He was with ACC – Babcock Ltd.,
Mr. S. Manivel – Vice President [Electrical, Instrumentation
and Control]
Mr. S. Manivel has more than three (3) decades of experience
in the power Industry. He is a Graduate Engineer in Electrical Engineering and
Post Graduate Engineer in Electronics Engineering. His experience covers the
area of design, detailed engineering and project execution of medium and large
capacity power plants. He has served as Executive in various capacities in
Tamil Nadu Electricity Board, Bharat Heavy Electrical Limited and Desein
Private Ltd.
Mr. N. R. Nair– Vice President [Civil and Structural]
Mr. N. R. Nair has more than three (3) decades of experience
in the power Industry. A Graduate Engineer in Civil Engineering he has
experience in tendering design, detailed engineering and construction of medium
and large capacity power plants. He was with Law Mayer International (
Mr. Venkataraman – General Manager [Mechanical – Piping]
Mr. Venkataraman has more than 4 decades of experience in
Boiler and Piping Industry. He is a graduate in Mechanical Engineering. His
experience in BHEL covers engineering of piping for various process and power
plants. He has done engineering and project execution and operation of power
plants in
Mr. S. Franklin Prabhu – Dy. Chief Engineer [Mechanical]
Mr. S. Franklin Prabhu has about 14 years of experience in
the power Plant Engineering. As a Graduate Engineer in Mechanical Engineering
with post graduation in Energy Conservation and Management he was involved in
the conceptualization, design, detailed engineering and project management of
small, medium and large capacity Power Projects. Previously he was with
M.N.Dastur & Company (P) LTD, Chennai.
Mr. N. Jayaraman – Dy. Chief Engineer [Mechanical]
Mr. N. Jayaraman has about 12 years of experience in the
power Plant Design. As a Graduate Engineer in Mechanical Engineering he was
involved in the design, detailed engineering and construction of medium and
large capacity Power Projects on EPC mode of execution. He was with Reliance
Energy Ltd. Noida.
Mr. P. Vijaya Kumar - Dy. Chief Engineer [Mechanical]
Mr. P. Vijaya Kumar has about 14 years of experience in the
Power Plant Engineering. As a Graduate Engineer in Mechanical Engineering he
was involved in the design and detailed engineering, project management,
erection & commissioning of small, medium and large capacity power
projects. He has experience in the operation & maintenance of 20 MW
co-generation power plant. Previously he was with M.N. Dastur & Company (P)
Ltd.
List
of Projects being executed by CCE from January 2006 is as follows:
- Basic
Engineering Services
- Detailed
Engineering Services
- Detailed
Engineering Services For Boiler
- Detailed
Engineering Services For Piping
- Civil Design
Work
- Detailed
Engineering Services For Electrical System
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.41.57 |
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1 |
Rs.82.14 |
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Euro |
1 |
Rs.55.74 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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27 |
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 |
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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 |
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