MIRA
INFORM REPORT
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Report Date : |
11.07.2007 |
IDENTIFICATION DETAILS
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Name : |
LALDEE PRIVATE
LIMITED |
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Registered Office : |
8/11, W. E. A.,
Karol Bagh, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
24.01.1957 |
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Com. Reg. No.: |
55-2757 |
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CIN No.: [Company
Identification No.] |
U74899DL1957PTC002757 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELL03322E |
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PAN No.: [Permanent
Account No.] |
AAACL0931G |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Manufacturers of Machine Knives and Blades. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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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 12000 |
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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.
Directors are reported as experienced and respectable businessmen. Trade relations
are reported as fair. Business is active. Payments are usually correct and as
per commitments. The company can
be considered normal for business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered Office : |
8/11, W. E. A.,
Karol Bagh, |
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Tel. No.: |
91-25718432 |
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Fax No.: |
91-11-25768503 |
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E-Mail : |
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Website : |
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Factory : |
11 NIT Industrial Area, |
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Tel. No.: |
91 – 129 – 2232232, 4023430 |
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Fax No.: |
91-129 – 4023530 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Kailash
Chander Mayor |
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Designation : |
Managing Director
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Address : |
8/11, W. E. A.,
Karol Bagh, |
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Date of Appointment : |
24.01.1957 |
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Name : |
Mr. Harsh Mayor |
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Designation : |
Whole Time
Director |
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Address : |
8/11, W. E. A.,
Karol Bagh, |
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Date of Appointment : |
01.04.2003 |
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Name : |
Mr. Balmukund
Mayor |
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Designation : |
Director |
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Name : |
Mrs. Lal Devi |
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Designation : |
Director |
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Name : |
Ms. Kavita Mayor |
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Designation : |
Additional
Director |
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Address : |
11.07.1967 |
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Date of Appointment : |
14.03.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. K. C. Mayor |
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900 |
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Mr. Krishna Mayor
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900 |
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Mr. Balmukand
Mayor |
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1000 |
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Mr. Suhil Kumar
Mayor |
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900 |
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Mr. Harsh Mayor |
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800 |
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Category |
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Percentage of
Holding |
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Directors or relatives of directors |
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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Machine Knives and Blades. |
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Products : |
·
Metal Forming, Machine Building & Allied
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GENERAL INFORMATION
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Bankers : |
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Facilities : |
SECURED LOANS
INVESTMENT
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Khanna and
Company Chartered
Accountants |
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Address : |
26, Kishan Niket,
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Tel. No.: |
91-11-23261814, 23276239 |
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Fax No.: |
91-11-23273239 |
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E-Mail : |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity shares |
Rs. 100/- each |
Rs. 1.000 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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4500 |
Equity shares |
Rs. 100/- each |
Rs. 0.450 million |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.450 |
0.450 |
0.450 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2.776 |
2.576 |
0.740 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
(0.433) |
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NETWORTH |
3.226 |
3.026 |
0.757 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
2.529 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
2.529 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
3.226 |
3.026 |
3.286 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.018 |
2.446 |
2.983 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
1.002 |
1.002 |
1.002 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
1.128
|
0.339 |
0.687 |
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Sundry Debtors |
1.058
|
0.687 |
0.531 |
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Cash & Bank Balances |
0.499
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0.107 |
0.079 |
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Other Current Assets |
0.000
|
0.011 |
0.011 |
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Loans & Advances |
2.087
|
2.428 |
2.442 |
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Total
Current Assets |
4.772
|
3.572 |
3.750 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
4.566
|
0.000 |
0.000 |
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Provisions |
0.000
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3.994 |
4.449 |
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Total
Current Liabilities |
4.566
|
3.994 |
4.449 |
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Net Current Assets |
0.206
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(0.422) |
(0.699) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
3.226 |
3.026 |
3.286 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
7.380 |
4.334 |
4.750 |
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Other Income |
0.000 |
2.670 |
0.299 |
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Total Income |
7.380 |
7.004 |
5.049 |
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Profit/(Loss) Before Tax |
0.200 |
2.268 |
(0.433) |
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Provision for Taxation |
0.000 |
0.000 |
0.000 |
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Profit/(Loss) After Tax |
0.200 |
2.268 |
(0.433) |
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Expenditures : |
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Total Expenses |
6.743 |
3.995 |
4.697 |
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Financial Charges |
0.000 |
0.178 |
0.162 |
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Depreciation |
0.437 |
0.563 |
0.623 |
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Total Expenditure |
7.180 |
4.736 |
5.482 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
2.71
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32.38 |
8.58 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.71
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52.33 |
(9.12) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.95
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37.69 |
(6.43) |
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Return on Investment (ROI) (PBT/Networth) |
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0.06
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0.75 |
(0.57) |
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Debt Equity Ratio (Total Liability/Networth) |
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1.41
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1.31 |
9.21 |
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Current Ratio (Current Asset/Current Liability) |
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1.04
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0.89 |
0.84 |
LOCAL AGENCY FURTHER INFORMATION
FIXED ASSETS:
·
Land
·
Building
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Machinery
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Office
equipment
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Furniture
and fixture
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Cycle
·
Vehicle
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Air
conditioner
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Tubewell
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Electricity
equipment
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Machine
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Fan
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Fax
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Scooter
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Typewriter
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Computer
·
NOTES TO ACCOUNTS:
- During the current year secured loan of
Rs. 2.528 millions from Punjab National Bank is settled in favour of the
company and accordingly, the profit of the company is increased by Rs.
2.528 millions only
- Contingent liability for the year is
NIL (previous year was NIL)
|
Name of the company |
M/s Laldee
Private Limited |
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Presented By |
Canara Bank, |
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1) Date and description of instrument creating the change |
Supply Bill
agreement dated 28.05.1984 for Rs. 0.080 millions |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 0.080
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 |
Supply bills
drawn on government / semi government / reputed companies and others.
Payments receivable under supply bill |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest will be
charged 18% above RBI rate with a minimum of 18% and penal interest 2% more. |
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5) Name and Address and description of the person entitled to the charge. |
Canara Bank, S-A,
Nehru ground, |
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6) Date and brief description of instrument modifying the charge |
NA |
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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. |
NA |
AS PER WEBSITE DETAILS:
Quality of their products has
zapped them to prominence. They are one of the most renowned manufacturer and
supplier of shear blades, circular cutters, peeling knives, paper cutting
guillotine knives, wood chipper knives and trimmer/slitter knives
Profile
Subject is a leading manufacturer and supplier of industrial machine knives,
metal shear blades, scrap choppers, paper cutting knives, trimmer knives, press
brake tools and spares. The company started in 1957 in technical collaboration
with Grebe & Company Remchied and W.A.Tyzack Sheffield
Products
They have the capacity to make up to 4500mm long blades and circular blades up
to 1000mm diameter for various machines and applications.
Their spectrum of products
Paper & Pulp - They make knives and blades for all the stages of
paper production from Chipper Knives to roll sliters.
Rubber & Plastic - The shock and wear resistance increases the
cutting efficiency for all grades of polymers and elastomers.
Printing & Packaging - Paper knives, sheeter knives etc are
manufactured using claded steels with Tungsten steel inlay at the cutting edge
and also through hardened solid alloy steels.
Iron & Steel - Their high quality Iron and Steel cutting knives,
tube mill tooling, bar & strip mill blades etc result in complete customer
satisfaction.
Veneer & Plywood - Knives made from tungsten base alloys enjoy
greater toughness and abrasion resistance and hence a better quality.
Metal Forming - These are for individual use. Metal Building and Allied
is customized for sheet metal forming and plate bending to the up to 16mm.
Infrastructure
They have a strong and comprehensive infrastructure all in house spread over an
area of 6500 sq. yards comprising of latest machines and highly experienced
experts. The machines function with high level of time & cost efficiency
resulting in reasonable price and beautiful quality for the customers.
Quality
The quality of their products is an outcome of their belief that the only way
to excellence is through customer satisfaction. Maintaining high quality is an
integral part of their organisation. Their products are checked at every level
of production and only when they are found satisfactory on the quality front
that they are considered ready for the market.
Clients
they mainly cater to Steel, Paper, Printing, Rubber, Jute, Cotton, Leather,
Plywood and Plastic Industries.
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. 40.41 |
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|
1 |
Rs. 81.37 |
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Euro |
1 |
Rs. 54.98 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
8 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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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 |
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 |
|
38 |
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 |
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