MIRA
INFORM REPORT
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Report Date : |
21.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
INTERCRAFT ENGINEERING PRIVATE LIMITED |
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Registered Office : |
16 A , Shakespeare Sarani, Kolkata – 700 071, West Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
01.07.1991 |
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Com. Reg. No.: |
21 - 106918 |
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CIN No.: [Company
Identification No.] |
U45202WB1991PTC106918 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
LKNI03199A |
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PAN No.: [Permanent
Account No.] |
AABFI0306G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Plant and Machinery, Roofing Glass, Furniture,
Fitting Wood Products, Electrical and Electronic Goods, etc. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 200000 |
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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 and reputed company having
satisfactory track records. Business is active. Trade relations are fair.
Payments are reported as usually correct and as per commitments. The company can considered normal for business dealings at usual trade
terms and conditions. |
LOCATIONS
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Registered Office : |
16A, Shakespeare Sarani, Kolkata-700 071, West Bengal, India |
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Tel No.: |
91-33-22826807 / 22826809 / 22826776 |
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E-Mail : |
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Corporate Office: |
6/97, DDA Flats, Mandangir, New Delhi – 110 062, India |
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Mobile No: |
91-9350253988 |
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Factory: |
C -818, Near Sant Market, Lucknow, Uttar Pradesh, India |
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Fax No: |
91-522-2721632 |
DIRECTORS
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Name : |
Mr. Goutam Bose |
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Designation : |
Director |
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Address : |
Betpul , Maslandapur – 743 289, West Bengal, India |
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Date of Birth/Age : |
25.09.1970 |
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Date of Appointment : |
07.06.2006 |
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Name : |
Mr. Vinay Agarwal |
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Designation : |
Director |
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Address : |
4/149 Vishesh Khand -4,
Gomtinagar, Lucknow – 226 010, Uttar Pradesh, India |
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Date of Birth/Age : |
17.02.1968 |
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Date of Appointment : |
01.07.1991 |
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Name : |
Mrs .Raina Agarawal |
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Designation : |
Director |
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Address : |
C -818, Mahanagar, Lucknow, Uttar Pradesh, India |
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Date of Birth/Age : |
01.01.2004 |
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Date of Appointment : |
01.07.1991 |
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Name : |
Mrs. Uma sharma |
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Designation : |
Director |
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Address : |
329 Moti Nagar, Lucknow , Uttar Pradesh., India |
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Date of Appointment : |
01.07.1991 |
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Date of ceasing: |
01.01.2004 |
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Name : |
Mrs. Vandan Saraswat |
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Designation : |
Director |
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Address : |
B -1/2, Aliganj Hou Sing Scheme, Lucknow, Uttar Pradesh |
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Date of Appointment : |
10.09.1993 |
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Date of ceasing: |
01.01.2004 |
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Name : |
Mr. Ram Sharma |
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Designation : |
Director |
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Address : |
329 Moti Nagar, Lucknow , Uttar Pradesh., India |
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Date of Appointment : |
10.09.1993 |
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Date of ceasing: |
01.01.2004 |
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Name : |
Mr. R P Shrivastva |
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Designation : |
Director |
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Address : |
1/6 Vivek Khand, Gomti Nagar, Lucknow, Uttar Pradesh, India |
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Date of Appointment : |
10.09.1993 |
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Date of ceasing: |
01.01.2004 |
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Name : |
Mrs. Parul Agarwal |
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Designation : |
Director |
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Address : |
C -819 , Maha Nagar, Lucknow, Uttar Pradesh, India |
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Date of Appointment : |
01.01.2004 |
KEY EXECUTIVES
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Name : |
M/S S R Associates |
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Designation : |
Secretary |
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Address : |
16 A, Shakespeare Sarani, 5th Floor, New B K Market,
Kolkata-700 071 |
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Tel No.: |
91-33-22826807 / 22826809 / 22826776 |
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E-Mail: |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Vinay Agarwal |
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323210 |
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Mrs. Parul Agarwal |
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309620 |
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Mr. Vinay Agarwal (HUF) |
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175000 |
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Mr. Ajay Kumar Agarwal |
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9800 |
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Jolen Marketing Private limited ` |
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32600 |
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Mr. Ajay Kumar Agrawal HUF |
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200 |
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Total
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850430 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Plant and Machinery, Roofing Glass, Furniture,
Fitting Wood Products, Electrical and Electronic Goods, etc. |
GENERAL
INFORMATION
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Bankers : |
· Canara Bank Address: IF
Branch, NEPZ, Noida – 201 305, Uttar Pradesh, India · State Bank of Tranvancore Address: Aliganj, Lucknow ·
ICICI Bank A/C No. 628105018411 |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
R Kothari and Company Chartered Accountants |
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Address : |
16A Shakespeare Sarani, Kolkata – 700 071, West Bengal, India |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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2000000 |
Equity shares |
Rs. 10/- each |
Rs. 20.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1700900 |
Equity shares |
Rs. 10/-
each |
Rs.17.009
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
|
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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17.009 |
8.504 |
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2] Share Application Money |
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7.962 |
3.657 |
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3] Reserves & Surplus |
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17.588 |
25.437 |
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4] (Accumulated Losses) |
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(0.040) |
(0.000) |
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NETWORTH |
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42.519 |
37.598 |
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LOAN FUNDS |
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1] Secured Loans |
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19.505 |
0.750 |
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2] Unsecured Loans |
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4.879 |
0.00 |
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TOTAL BORROWING |
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24.384 |
0.750 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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66.903 |
38.348 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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13.862 |
3.296 |
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Capital work-in-progress |
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16.435 |
4.959 |
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INVESTMENT |
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0.300 |
6.850 |
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DEFERREX TAX ASSETS |
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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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25.437 |
6.685 |
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Sundry Debtors |
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15.101 |
5.510 |
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Cash & Bank Balances |
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1.526 |
1.858 |
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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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8.896 |
4.561 |
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Total
Current Assets |
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50.960 |
18.614 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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23.108 |
4.171 |
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Provisions |
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1.431 |
1.085 |
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Total
Current Liabilities |
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24.539 |
5.256 |
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Net Current Assets |
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26.421 |
13.358 |
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MISCELLANEOUS EXPENSES |
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9.885 |
9.885 |
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TOTAL |
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66.903 |
38.348 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Sales Turnover |
|
38.095 |
8.065 |
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Other Income |
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0.292 |
1.542 |
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Total Income |
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38.387 |
9.607 |
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Profit/(Loss) Before Tax |
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2.587 |
1.485 |
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Provision for Taxation |
|
0.457 |
0.000 |
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Profit/(Loss) After Tax |
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2.130 |
1.485 |
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Export Value |
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8.895 |
1.718 |
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Import Value |
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18.624 |
6.571 |
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Total Expenses |
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35.800 |
8.122 |
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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0.81 |
0.02 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.98 |
0.11 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.50 |
0.27 |
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Return on Investment (ROI) (PBT/Networth) |
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0.009 |
0.03 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.15 |
0.15 |
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Current Ratio (Current Asset/Current Liability) |
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2.07 |
3.54 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8:-
|
Corporation identity number or foreign company registrations number of
the company |
U45202WB1991PTC106918 |
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Name of the company |
INTERCRAFT ENGINEERING PRIVATE LIMITED |
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Address |
16 A , Shakespeare Sarani, kolkata – 700 071, West Bengal, India |
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This Form is for |
Creation of charge |
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Type of Charges |
· Immovable property · Book debts · Any interest in immovable property · Floating charge · Movable property |
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Particular of the charge holder
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Canara Bank Address: IF Branch, NEPZ, Noida – 201 305,
Uttar Pradesh, India Email ID: del2403@canbank.co.in |
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Nature or description of the instrument creating charge |
Common hypothecation agreement dated
10.08.2007 Pronote Dated 10.08.2007 |
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Date of the instrument creating charge |
10.08.2007 |
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Amount Secure by the charge |
Rs. 4.500 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate
of interest: 13% p.a (Floating) compounded monthly. Terms
of repayment: Running Limit for 12 month Margin: Stock = 25% Book debts = 40% Extent
and operation of charge: 100% Amount secured = 7500000 Nature of facility = OCC against stock and
book debts ROI=13% PA (Floating) Compounded monthly Repayment= Running Limit for 2 month Security Primary = hypothecation of stock
and book debts Security Collaterally =EMT of property
situated At B -3/231, Type B, Vaibhav Khand, Gomati Nagar Awas Yojna ,
Lucknow – 226 010 Personal Guarantee of both Director. |
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Short Particulars of the
Property charged |
Primary =hypothecation of stock and book
debts Collateral =EMT of property situated at B
3/231, Type B, Vaibhav Khand, Gomati Nagar Awas Yojna , Lucknow – 226 010 |
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Name of the
company |
INTERCRAFT ENGINEERING PRIVATE LIMITED |
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Presented
By |
Mr. Vinay
Agarwal |
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1) Date and
description of instrument creating the change |
Pronote date
24.01.2004 and hypothecation of borrowers stock of gyp board and Tiles and hypothecation
of debits and assets |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 0.100
millions |
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3) Short
particular of the property charged. If the property acquired is subject to
charge, date of the acquired of the property should be given |
Stock of Gyp
Board and Tiles wood , etc |
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4) Gist of the
terms and conditions and extent and operation of the charge. |
Interest rate 3% above state Bank advance
Rate minimum 18% per annum plus Interest tax at applicable from time to time
with quarterly rates. |
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5) Name and
Address and description of the person entitled to the charge. |
State Bank of Tranvancore Address: Aliganj, Lucknow |
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6) Date and brief description of instrument
modifying the charge |
24.01.1994 |
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7) Particulars of
modifications specifying the terms and conditions or the extent of operations
of the charge in which modification is made and the details of the
modification. |
Cash credit
Limits raised from Rs. 0.100 millions to Rs. 0.250 millions. |
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.39.57 |
|
UK Pound |
1 |
Rs.78.93 |
|
Euro |
1 |
Rs.56.85 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
45 |
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. |
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 |
|