MIRA INFORM REPORT

 

 

Report Date :

13.03.2007

 

IDENTIFICATION DETAILS

 

Name :

L P GAS ENGINEERS AND CONSULTANTS

 

 

Registered Office :

502, Amar Residency, sion-Trombay Road, Deonar, Mumbai:400 088

 

 

Country :

India

 

 

Financials (as on) :

31.03.2006

 

 

Date of Incorporation :

2001

 

 

Com. Reg. No.:

LST-400088-S-1006 / CST- 400088-C-877

 

 

IEC No.:

0303064412 / 0300059159

 

 

Legal Form :

Sole Proprietory Concern

 

 

Line of Business :

Exporter of LPG Cylinder Filling Machines, LPG Evacuation Pumps Hot Air Sealing Machines, LPG Bottling Plants- Turkey Contractors

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

 

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an experienced concern having satisfactory track record. Trade relations are fair. General financial position is satisfactory. Payment are usually correct and as per commitments.

 

The concern can be considered normal for business dealings at usual trade terms and conditions 

 

 

LOCATIONS

 

Registered Office :

502, Amar Residency, sion-Trombay Road, Deonar, Mumbai:400 088

Tel. No.:

91-22-25551041

Mobile No.:

91-9821055288

Fax No.:

91-22-25551632

E-Mail :

lpgas@vsnl.com

Website :

http://www.lpgindia.org

Area :

1600 Sq. ft

Location :

Owned

 

 

SOLE PROPRIETOR

 

Name :

Mr. Rajendra Nath Mohanty

Designation :

Proprietor

Address :

502, A,ar Residency Sion-Trombay Road, Deonar, Mumbai:400 088

Date of Birth/Age :

60 Years

Qualification :

B.Sc.(Engg)

Experience :

40 Years

 

 

BUSINESS DETAILS

 

Line of Business :

Exporter of LPG Cylinder Filling Machines, LPG Evacuation Pumps Hot Air Sealing Machines, LPG Bottling Plants- Turkey Contractors

 

 

Products :

 

 

Agencies Held :

Blackmer Pumps and Compressors For LPG : USA and Foroman

Galaxy Conveyors (India) : UAE and Oman

 

 

Exports :

 

Products :

LPG Bottling Plants, Equipments

Countries :

UAE, Oman, Srilanka,, Nepal

 

 

Imports :

 

Products :

LPG Pumps, LPG Compressors, Torque Wrenches

Countries :

Germany(Blue Star India), USA (Blackmer, USA), USA (Bolttech, USA)

 

 

Terms :

 

Selling :

L/C/ Cash

 

 

Purchasing :

L/C, Cash

 

PRODUCTION STATUS

 

Particulars

 

 

 

 

LPG Cylinder Filling MKS.

 

 

 

 

Other LPG Plants Equipment       As Per Order received

 

 

 

 

 

 

GENERAL INFORMATION

 

Suppliers :

End User

 

 

No. of Employees :

Total:8 (Office: 3, Factory: 5)

 

 

Bankers :

Punjab National Bank.

Worli Mumbai

 

 

Facilities :

Rs.1.600 Millions

 

 

 

Banking Relations :

Satisfactory

 

 

Auditors :

 

Name :

M.G. Shah and Associates

Chartered Accountant

Address :

410, Gokul Building, 80-A- Baroda Street, Carnac Bunder , Mastid Bunder Mumbai:400 009

Tel. No.:

91-22-66310705

Fax No.:

91-22-66310706

 

 

Associates/Subsidiaries :

Nikhilesh Export and Trading Engineers- Trading Items required for LPG Plants

502, Amar Residency, Sion, Trombay Road, Deonar, Mumbai:400 088

 

 

CAPITAL STRUCTURE

 

Capital Investment :

 

Owned :

Rs.4.343 Millions

Borrowed :

Rs.1.600 Millions

Total :

Rs.5.900 Millions

 

 

 

 

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

 

 

31.03.2006

Sales Turnover

 

 

16.102

 

 

 

 

Profit/Loss for the year

 

 

2.069

 

 

 

 

Export Value

 

 

14.861

 

 

 

 

Import Value

 

 

-

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Trade Reference:

 

                                   

 

A team of qualified and experienced LP Gas Engineers and Consultants , Cad based designers and Erection crew to handle Design, Engineering and Erection works and undertake LPG Plant Projects on a Turnkey basis. Composite tie ups with various Engineering establishments in India, for the exclusive manufacture and testing of equipment designed by the company.

 

Associate company in the middle east to provide expert solutions and services to the LPG Industry in that Region

 

Nikhilesh Export & Trading Engineers, which is an associate company, was set-up to provide the necessary support to LP Gas Engineers and Consultants. This company specializes in the actual manufacture and marketing of special purpose machines, equipment and accessories for the LPG Industry as designed by its sister concern

 

An LP Gas Engineers and Consultants firm specialising in :

 

  

 

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 exist designating subject or any of its beneficial owners, controlling shareholders or senior officers as terrorist or terrorist organization or whom notice had been received that all financial transactions involving their assets have been blocked or convicted, found guilty or against whom a judgement or order had been entered in a proceedings for violating money-laundering, anti-corruption or bribery or international economic or anti-terrorism sanction laws or whose assets were seized, blocked, frozen or ordered forfeited for violation of money laundering or international anti-terrorism laws.

 

2]         Court Declaration :

No records exist to suggest that subject is or was the subject of any formal or informal allegations, prosecutions or other official proceeding for making any prohibited payments or other improper payments to government officials for engaging in prohibited transactions or with designated parties.

 

3]         Asset Declaration :

No records exist to suggest that the property or assets of the subject are derived from criminal conduct or a prohibited transaction.

 

4]         Record on Financial Crime :

            Charges or conviction registered against subject:                                                  None

 

5]         Records on Violation of Anti-Corruption Laws :

            Charges or investigation registered against subject:                                                          None

 

6]         Records on Int’l Anti-Money Laundering Laws/Standards :

            Charges or investigation registered against subject:                                                          None

 

7]         Criminal Records

No available information exist that suggest that subject or any of its principals have been formally charged or convicted by a competent governmental authority for any financial crime or under any formal investigation by a competent government authority for any violation of anti-corruption laws or international anti-money laundering laws or standard.

 

8]         Affiliation with Government :

No record exists to suggest that any director or indirect owners, controlling shareholders, director, officer or employee of the company is a government official or a family member or close business associate of a Government official.

 

9]         Compensation Package :

Our market survey revealed that the amount of compensation sought by the subject is fair and reasonable and comparable to compensation paid to others for similar services.

 

10]        Press Report :

            No press reports / filings exists on the subject.

 

 

CORPORATE GOVERNANCE

 

MIRA INFORM as part of its Due Diligence do provide comments on Corporate Governance to identify management and governance. These factors often have been predictive and in some cases have created vulnerabilities to credit deterioration.

 

Our Governance Assessment focuses principally on the interactions between a company’s management, its Board of Directors, Shareholders and other financial stakeholders.

 

 

CONTRAVENTION

 

Subject is not known to have contravened any existing local laws, regulations or policies that prohibit, restrict or otherwise affect the terms and conditions that could be included in the agreement with the subject.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.44.31

UK Pound

1

Rs.85.47

Euro

1

Rs.58.47

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

5

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--MARGINS

-5~5

 

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

YES

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

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/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

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions