MIRA
INFORM REPORT
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Report Date : |
13.06.2007 |
IDENTIFICATION DETAILS
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Name : |
NIULAB EQUIPMENT COMPANY PRIVATE LIMITED |
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Registered Office : |
Lab House Plot No .F 13 Opp. Seepz, M I D C Andheri (East), Mumbai;400093,
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
25.10.1985 |
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Com. Reg. No.: |
11 - 37857 |
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CIN No.: [Company
Identification No.] |
U32109MH1985PTC037857 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMN09680G |
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PAN No.: [Permanent
Account No.] |
AABCN1242R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject acts as an analytical and biotech Instrumentations solution
provider. |
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 58752 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Clear |
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Litigation : |
Regular |
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Comments : |
Subject is 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 at usual trade terms
and conditions. |
LOCATIONS
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Registered Office : |
Lab House Plot No .F 13 Opp. Seepz, M I D C Andheri (East),
Mumbai;400093, |
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Tel. No.: |
91-22-28376701/ 91-22-55040700 |
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Fax No.: |
91-22-28368275 |
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E-Mail : |
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DIRECTORS
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Name : |
Mr. Ashok Kishhin Kotwani |
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Designation : |
Director |
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Address : |
A 31, |
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Date of Birth/Age : |
05.02.1953 |
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Date of Appointment : |
25.10.1985 |
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Name : |
Mr. Kanchan Ashok Kotwani |
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Designation : |
Director |
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Address : |
A 31, |
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Date of Birth/Age : |
05.07.1968 |
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Date of Appointment : |
21.12.1987 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Ashok Kishin Kotwani |
115500 |
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Gopi Kishin Kotwani |
12320 |
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Kanchan Ashok Kotwani |
121040 |
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Manohar Kishin Kotwani |
2020 |
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Neelam Mohanlal Peswani |
5 |
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Ankush Ashok Kotwani |
43400 |
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Neha Ashok Kotwani |
5600 |
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Geeta Gulab Balani |
1 |
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Indira Bhagwan Kotwani |
1 |
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Gulab Nanikram Balani |
1 |
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Mala Bhagwan Kotwani |
1 |
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Akash Bhagwan Kotwani |
1 |
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Kanchan Balani Naresh |
1 |
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Balanii Gulab Karan |
1 |
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Balani Karan Ritu |
1 |
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Girdhari Kishin Kotwani |
1 |
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1 |
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Naresh Bhimandas Ajwani |
1 |
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Anita Sanjeev Maheshwari |
1 |
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Sanjeev Maheshwari H.U.f. |
1 |
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Dube Deviprasad Rama |
1 |
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Bhagwan kishin Kotwani |
1 |
Equity Share breakup:
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Category |
Percentage |
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Directors or relative of Directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject acts as an analytical and biotech Instrumentations solution
provider. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Around 50 |
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Bankers : |
State Bank of Industrial
Finance Branch, Andheri (East), Mumbai – 400 069 |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
GMJ & Company Chartered Accountant |
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Address : |
C-002 Vishal Aprt, Gr Floor, |
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Associates/Subsidiaries : |
Associates:
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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990000 |
Equity Sahres |
Rs.10/- each |
Rs.9.900 Millions |
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1000 |
Preference Share |
Rs. 100/- each |
Rs.0.100 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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300000 |
Equity Shares |
Rs.10/- each |
Rs.3.000
Millions |
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 |
3.000 |
3.000 |
3.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
11.688 |
9.780 |
9.248 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
14.688 |
12.780 |
12.248 |
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LOAN FUNDS |
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1] Secured Loans |
8.210 |
0.000 |
0.000 |
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2] Unsecured Loans |
3.743 |
4.602 |
4.200 |
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TOTAL BORROWING |
11.953 |
4.602 |
4.200 |
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DEFERRED TAX LIABILITIES |
0.323 |
0.350 |
0.408 |
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TOTAL |
26.964 |
17.731 |
16.856 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.024 |
1.096 |
1.200 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.778 |
0.778 |
0.790 |
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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 |
3.768
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0.766 |
0.293 |
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Sundry Debtors |
36.697
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29.976 |
12.901 |
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Cash & Bank Balances |
5.564
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5.905 |
5.989 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
79.585
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121.021 |
23.414 |
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Total
Current Assets |
125.614
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157.668 |
42.597 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
95.829
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140.556 |
26.521 |
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Provisions |
4.623
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1.255 |
1.210 |
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Total
Current Liabilities |
100.452
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141.811 |
27.731 |
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Net Current Assets |
25.162
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15.857 |
14.866 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
26.964 |
17.731 |
16.856 |
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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 |
164.662 |
83.787 |
25.938 |
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Other Income |
0.000 |
0.000 |
58.285 |
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Total Income |
164.662 |
83.787 |
84.223 |
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Profit/(Loss) Before Tax |
5.251 |
0.876 |
0.903 |
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Provision for Taxation |
0.000 |
0.000 |
0.230 |
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Profit/(Loss) After Tax |
5.251 |
0.876 |
0.673 |
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Earnings in Foreign Currency : |
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Traveling |
NA |
NA |
0.751 |
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Commissions Received |
NA |
NA |
42.867 |
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Total Earnings |
NA |
NA |
43.618 |
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Imports : |
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C.I.F Value of imports |
NA |
NA |
14.899 |
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Total Imports |
NA |
NA |
14.899 |
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Expenditures : |
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Cost of |
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24.124 |
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Personnel cost |
158.197 |
82.294 |
24.523 |
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Administrative Expenses |
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34.077 |
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Financial Expenses |
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0.490 |
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Interest |
1.104 |
0.512 |
0.000 |
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Depreciation & Amortization |
0.109 |
0.104 |
0.104 |
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Total Expenditure |
159.410 |
82.910 |
83.318 |
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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 |
(%) |
3.18
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1.04 |
0.79 |
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Net Profit Margin (PBT/Sales) |
(%) |
3.18
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1.04 |
3.48 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.14
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0.55 |
2.06 |
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Return on Investment (ROI) (PBT/Networth) |
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0.35
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0.05 |
0.07 |
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Debt Equity Ratio (Total Liability/Networth) |
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7.65
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11.45 |
2.26 |
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Current Ratio (Current Asset/Current Liability) |
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1.25
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1.11 |
1.53 |
LOCAL AGENCY FURTHER INFORMATION
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Name of the company |
Niulab Equipments
Company Private Limited |
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Presented By |
State Bank of Industrial
Finance Branch, Andheri (E), Mumbai;4000 069. |
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1) Date and description of instrument creating the change |
All the above agmt’s are dt.27.12.2004 and executed for the creation
of a single charge. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.20.000
Millions(Bank Guarantee) |
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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 |
A first charge by
way of hypothecation of the Borrowers entire goods, movables and other assets
present and future including documents of title to goods and other assets,
such as book-debts outstanding moneys, receivables including receivables by
way of cash assistance and/or cash incentives under the cash Incentive scheme
or any other scheme, claims, including claims by way of refund of
custome/excise duties under the Duty Draw back Credit Scheme or any other
scheme, bills, invoice, documents, contracts, insurance polices, guarantees,
engagements, securities, investments and rights uncalled capital and all
machinery present and future of such form satisfactory t the Bank. Bank
Guarantee. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
R.O.I: As would
be determined by gt bank from time to time. Margin : Bank
Guarantee: 15 % |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of Industrial
Finance Branch, Andheri (East), Mumbai – 400 069 |
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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 |
Fixed Assets:
Goodwill
Buildings
Air Conditioners
Furniture and Fixture
Office Equipments
Electrical Fitting
Computers
Testing Equipments
Gas Cylinder
As Per Web site:
COMPANY PROFILE
The company was established
in 1982 is regarded as one of the leading Analytical & Biotech
Instrumentation solution providers. With well-knit network of offices spread
across
MANAGEMENT TEAM
Mr. Ashok Kotwani - Chairman and Managing Director
Mr. Ashok K. Kotwani, Managing Director of Niulab Equipment Company Pvt. Ltd., is one of the most distinguished personality in the field of Instrumentation Industry. A Gold Medalist in Masters Degree in Science (specialization in Physics) initiated the first Company in Ashco Group, Niulab Equipment Company Pvt. Ltd. in 1982, followed by Ashco Industries Ltd. in 1986.
Mrs Kanchan Kotwani - Director
Mr. Shyam Kotwani - COO
NEWS:
NIULAB EQUIPMENT COMPANY PVT. LTD. is proud to announce its association with SETARAM
INSTRUMENTATION, France a leading manufacturer of advanced
Thermal Analysis equipments and Calorimeters. NIULAB has signed an exclusive
distribution agreement with SETARAM INSTRUMENTATION to market their products in
Setaram Instrumentation provides global solutions to the field of application
be it Petrochemical, Pharmaceutical, Oil, Biology, Nuclear power, Metallurgy,
Ceramics, Polymers etc.
SETARAM INSTRUMENTATION not only
provides standard instruments, (DTA, DSC, TGA, TMA, etc.), Advanced
thermo-kinetics software AKTS and Thermal Conductivity Mathis Instruments but has
designed specific technologies to open the field of application to a widest
range of customer requirement. SETARAM INSTRUMENTATION has great exposure in
Petrochemical, Ceramics, Metallurgy, Power Generation, Pharmaceuticals, and
polymers.
Pharma Industry
Research and development is of vital importance in the
Pharmaceutical Industry. The development of new drugs demands considerable
financial and manpower investment that can span several years. To obtain a
perfectly characterised drug the researchers use different techniques among
which Thermal Analysis holds an important place
Process Safety
The control of industrial manufacturing or transformation
process is vital importance. Protection of personnel and the environment, as
well as fundamental economic aspects, mean that the safety of such processes is
a crucial issue at all levels for companies specialised in chemicals or using
chemical reaction of industrial scale
Gas hydrates,
Gas hydrates are solid structures formed from water and gas under low temperature and high pressure conditions. Gas hydrates are crystalline solids consisting of gas molecules each surrounded by a cage of water molecules. Gas hydrate formation is based on a gas solid phase equilibrium, enabling the user to determine the pressure and temperature of hydrate formation in a liquid mixture for a given mixture. The usual way to determine the thermodynamic conditions of the formation of hydrates is to use a PVT cell with visual observation and simultaneously temperature and pressure measurements This technique require heavy instrumentation and cannot be used if solid particles are found in the formulation. Considering the gas hydrates are only stable at high pressure and low temperature and that calorimeter is most appropriate technique for the prediction and characterisation of gas hydrates Setaram developed a micro calorimeter with sub ambient temperature and high pressure capabilities.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.41.64 |
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1 |
Rs.83.11 |
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Euro |
1 |
Rs.56.46 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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 |
6 |
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--LEVERAGE |
1~10 |
6 |
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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 |
YES |
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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 |
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48 |
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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