MIRA
INFORM REPORT
|
Report Date : |
16.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
GROZ ENGINEERING TOOLS PRIVATE LIMITED |
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Registered Office : |
C -717, New Friends Colony, New Delhi – 110 065 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
13.10.1999 |
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Com. Reg. No.: |
55-101953 |
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CIN No.: [Company
Identification No.] |
U74210DL1999PTC101953 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELG05063C |
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PAN No.: [Permanent
Account No.] |
AABCG4017H |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Manufacturers, Importers and Exporters of Steel Squares, Bore
Gauge, Wire Gauge, Machine Accessories, Cutting Tools, Heavy and Light
Engineering Equipments of Ferrous and Non-Ferrous Metals. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 826076 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established company having fine track. Directors
are reported as experienced, respectable and having satisfactory track records.
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 : |
C -717, New Friends Colony, New Delhi – 110 065 |
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E-Mail : |
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Location: |
Owned |
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Administrative Office : |
Village Kherki Dhaula, 41st Milestones, Near Haldiram, N H
8, Delhi Jaipur Highway, Gurgaon – 122 001, Haryana, India |
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Tel. No.: |
91-22-2210331/2667594-95 |
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Fax No.: |
91-22-2210332 |
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Corporate Office : |
A-13, B-1, Mohan Co-operative Industrial Estate, Mathura Road,
New Delhi – 110 044, India |
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Tel. No.: |
91-11-26945242/26942019/26944655/26944527 |
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Fax No.: |
91-11-26944316/26949484 |
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E-Mail : |
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Website : |
http://www.groz-tools.co |
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Factory 1 : |
Village Kherki Dhawla, Tehsil Sohna,District Gurgaon, Haryana |
DIRECTORS
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Name : |
Mr. Anil Kumar Bammi |
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Designation : |
Director |
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Address : |
C -717, New Friends Colony, New Delhi – 110 065 |
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Date of Birth/Age : |
06.10.1944 |
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Date of Appointment : |
13.10.1999 |
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Tel No: |
91-22-26945242 / 26832809 |
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Name : |
Mr. Dhiren Bammi |
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Designation : |
Director |
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Address : |
C -717, New Friends Colony, New Delhi – 110 065 |
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Date of Birth/Age : |
25.09.1974 |
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Date of Appointment : |
13.10.1999 |
KEY EXECUTIVES
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Name : |
S Agarwal and associates |
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Designation : |
Company secretary |
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Address : |
272, Dayanand Vihar, Delhi – 110 092 |
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Tel No: |
91-11-22372434 |
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Mobile No: |
91-9811386565 |
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Email: |
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Name : |
Mr. V K Mehra |
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Designation : |
Manager |
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Tel No: |
91-124-2210331 / 5240091 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Anil Kumar Bammi |
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75000 |
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Mr. Dhiren Bammi |
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25000 |
Equity Shares Breakup (Percentage of Total Equity):
|
Sr No. |
Category |
Percentage |
|
1 |
Directors or relatives of directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers, Importers and Exporters of Steel Squares,
Bore Gauge, Wire Gauge, Machine Accessories, Cutting Tools, Heavy and Light Engineering
Equipments of Ferrous and Non-Ferrous Metals. |
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Products: |
· Cutting tools · Tap wrenches and Dire Stock holders · Clamping tools · Tool holders · Machine Accessories |
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Imports : |
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Products : |
Raw material |
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Countries : |
European countries |
GENERAL
INFORMATION
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Bankers : |
Indian Overseas Bank Address: R K puram Branch, New Delhi – 110
066, India Email ID: roplan@delsco.iob.co.in |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Ved Jain & Associates Chartered Accountants |
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Address : |
33 Babar Road, Bengali Market, New Delhi – 110 001 |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity shares |
Rs. 10/- each |
Rs. 1.000 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
100000 |
Equity shares |
Rs. 10/- each |
Rs. 1.000 million |
||
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
1.000 |
1.000 |
1.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
205.519 |
74.388 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
206.519 |
75.388 |
1.000 |
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LOAN FUNDS |
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1] Secured Loans |
178.092 |
185.689 |
187.804 |
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2] Unsecured Loans |
82.781 |
82.781 |
86.461 |
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TOTAL BORROWING |
260.873 |
268.470 |
274.265 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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SHARE PREMIUM |
49.000 |
49.000 |
49.000 |
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TOTAL |
516.392 |
392.858 |
324.265 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
305.231 |
328.376 |
284.740 |
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Capital work-in-progress |
23.778 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
165.676
|
148.990 |
65.710 |
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Sundry Debtors |
136.698
|
92.889 |
30.182 |
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Cash & Bank Balances |
9.405
|
6.300 |
24.105 |
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Other Current Assets |
33.442
|
34.744 |
13.008 |
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Loans & Advances |
63.922
|
41.640 |
6.621 |
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Total
Current Assets |
409.143
|
324.563 |
139.626 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
219.930
|
260.081 |
130.659 |
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Provisions |
1.830
|
0.000 |
0.000 |
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Total
Current Liabilities |
221.760
|
260.081 |
130.659 |
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Net Current Assets |
187.383
|
64.482 |
8.967 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
30.558 |
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TOTAL |
516.392 |
392.858 |
324.265 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
Sales Turnover |
848.967 |
648.201 |
193.871 |
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Other Income |
0.000 |
0.000 |
0.000 |
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Total Income |
848.967 |
648.201 |
193.871 |
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Profit/(Loss) Before Tax |
132.961 |
104.927 |
(19.377) |
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Provision for Taxation |
1.830 |
0.000 |
0.000 |
|
Profit/(Loss) After Tax |
131.131 |
104.927 |
(19.377) |
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Total Expenditure |
716.006 |
543.274 |
213.248 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
15.44
|
16.18 |
[9.99] |
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Net Profit Margin (PBT/Sales) |
(%) |
15.66
|
16.18 |
[9.99] |
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Return on Total Assets (PBT/Total Assets} |
(%) |
18.01
|
16.06 |
[4.56] |
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Return on Investment (ROI) (PBT/Networth) |
|
0.64
|
1.39 |
[19.37] |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.33
|
7.01 |
404.92 |
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Current Ratio (Current Asset/Current Liability) |
|
1.84
|
1.24 |
1.06 |
LOCAL AGENCY
FURTHER INFORMATION
|
Corporation identity number or foreign company registrations number of
the company |
U74210DL1999PTC101953 |
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Name of the company |
GROZ ENGINEERING TOOLS PRIVATE LIMITED |
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Address |
C -717, New Friends Colony, New Delhi – 110 065 |
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This Form is for |
Creation of charge |
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Type of Charges |
· Immovable property · Movable property · Others |
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Particular of the charge holder
|
Indian Overseas Bank Address: R K puram Branch, New Delhi – 110
066, India Email ID: roplan@delsco.iob.co.in |
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Nature or description of the instrument creating charge |
Term loan agreement |
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Date of the instrument creating charge |
13.01.2007 |
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Amount Secure by the charge |
Rs. 200.000 millions |
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Brief of the principal terms and conditions and extent and operation
of the charge |
Rate on interest: Interest as per Bank Norms Term of repayments: Repayable in 20 quarterly installments Margin: Margin as per Bank norms Extent and operation of
charges: The charge operates as continuing security inter alia, for the due
repayment by the company to the bank to the extent of Rs. 200.000 millions
together with interest, Additional interest, Liquidated damages, premia on
repayment costs, charges, expenses and all other moneys payable by the
company to the bank in terms of the loan agreement and Bank norms from time
to time. Property in Col. No. 14 is mortgaged / hypothecated inter alia to
the bank as and by way of the first charge. Others: First charge on the entire block assets of the company plus additional
building to be constructed hypothecation of machineries. |
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Short particulars of the
Property charged |
First charge on the entire block assets of
the company plus additional building to be constructed hypothecation of
machineries. |
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Name of the
company |
GROZ ENGINEERING TOOLS PRIVATE LIMITED |
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Presented
By |
Indian Overseas
bank and Groz Engineering Tools Private limited |
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1) Date and
description of instrument creating the change |
Letter of
creation of equitable mortgage dated 27.04.2002 |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 160.000
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 |
The alimt is
secured against equitable mortgage of land of 11.80 acres and factory
building proposed for construction and 1st charge on the entire
fixed assets of the company being annexure attached with form –No. F -379.
the limit is also secured against all present and future machineries,
equipment, miscellaneous fixed assets, vehicles, stocks book debts, etc. the
limit further secured against the personal guarantee of shri A K Bammi,
managing Director Of the company
and Nr .Dhiren Bammi director of the company Mrs. Rajana Bammi , being the
guarantor also the limit is collaterally secured against the property bearing
No. 717, News friend colony New Delhi
belonging to Mrs. Ranjan Bammi being the guarantor for the loan. |
|
4) Gist of the
terms and conditions and extent and operation of the charge. |
The limit will carry interest rate of
14.5% on monthly rests basis and may vary depending upon bank / RBI decision
other bank charges and penal interest in case of default as per bank norms.
Margin 50% landsites development / interest during construction period. 40%
for civil construction and 25% for plant and machinery and other tangible
miscellaneous fixed assets. The loan is to repaid in 10 half yearly
installments of Rs. 16.000 millions each starting from April 2004 |
|
5) Name and
Address and description of the person entitled to the charge. |
Indian Overseas Bank Address: R K Puram Branch, New Delhi (*previously in favour of Indian Overseas
Bank geater Kailash – II, New delhi. Since transferred to Indian Overseas Bank,
R K puram Branch, New Delhi) |
|
6) Date and brief description of instrument
modifying the charge |
379-C
Confirmation |
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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. |
The charge for
Rs. 380.000 millions is also secured by extension of equitable mortgage of
land and building at Kherki Daula Tehsil Sona, district – Gurgaon as per
annexure to confirmation supplemental mortgage dated 03.02.2004 other terms
and conditions remain same. |
OTHER INFORMATION:
Subject is engaged in as manufacturers, importers and exporters of Steel Squares, Bore Gauge, Wire Gauge, Machine Accessories, Cutting Tools, Heavy and Light Engineering Equipments of Ferrous and Non-Ferrous Metals.
Its product range include :-
· Steel Squares – A Grade
· Engineer’s Precision Square Sets
· Steel Squares – Workshop Grade
· Steel Squares – Workshop Grade Sets
· Steel Square – Bevelled Edge
· Bevelled Edge Steel Square Sets
· Degree Protractor
· Degree Protractor Rectangular Head
· Depth Gauge with Protractor
· Protractor Depth Gauge – Rectangular Head
· Adjustable Steel Squares
· Combination Set
· Center Square
· Bore Gauge
· Bore Gauge – Imperial
· Wire Gauge – Rectangular and Round
· Depth Gauge
· Screw Cutting Gauge
· Centre Gauge
· Twist Drill Gauge
· Steel Rules
· Brass Calipers
· Outside Calipers
· Inside Calipers
· Spring Divider
· Spring Calipers and Dividers – Quick Nut
· Spring Caliper and Diveders – Premium Range
· Firm Joint Caliper
· Jenny Calipers
· Steel Parallels – Pairs
· Steel Parallel – Sets
· Angle Plate – Plain Precision Ground
· Precision Angle Block
· Sine Bars
· Surface Plate
· Magnetic V-Block
· Ultimate V-Block & Clamp
· V-Block & Clamps – Tool Makers
· Tool Maker’s Vee Block & Clamp Sets – Super Precision
· V Blocks = Quadruple
· V-Blocks
· Surface Marking Block
· Surface Marking Block – Round
· Scribers
· Tungsten Carbide Scriber and Magnet
· Three Point Scriber
· Diam Comparator Stand – DCS/9
· Steel Squares – A Grade
· Engineer’s Precision Square Sets
· Steel Squares – Workshop Grade
· Steel Squares – Workshop Grade Sets
· Steel Square – Bevelled Edge
· Bevelled Edge Steel Square Sets
· Degree Protractor
· Degree Protractor Rectangular Head
· Depth Gauge with Protractor
· Protractor Depth Gauge – Rectangular Head
· Adjustable Steel Squares
· Combination Set
· Center Square
· Bore Gauge
· Bore Gauge – Imperial
· Wire Gauge – Rectangular and Round
· Depth Gauge
· Screw Cutting Gauge
· Centre Gauge
· Twist Drill Gauge
· Steel Rules
· Brass Calipers
· Outside Calipers
· Inside Calipers
· Spring Divider
· Spring Calipers and Dividers – Quick Nut
· Spring Caliper and Diveders – Premium Range
· Firm Joint Caliper
· Jenny Calipers
· Steel Parallels – Pairs
· Steel Parallel – Sets
· Angle Plate – Plain Precision Ground
· Precision Angle Block
· Sine Bars
· Surface Plate
· Magnetic V-Block
· Ultimate V-Block & Clamp
· V-Block & Clamps – Tool Makers
· Tool Maker’s Vee Block & Clamp Sets – Super Precision
· V Blocks = Quadruple
· V-Blocks
· Surface Marking Block
· Surface Marking Block – Round
· Scribers
· Tungsten Carbide Scriber and Magnet
· Three Point Scriber
· Diam Comparator Stand – DCS/9
· Diam Comparator Stand – DCS/3N
· Diam Comparator Stand – DCS/4
· Diam Comparator Stand – DCS/8
· Diam Comparator Stand – DCS/10
· Diam Comparator Stand – DCS/5N
· Diam Comparator Stand – DCS/11
· Micrometer Stand (Base) – MCS/01
· Magnetic Base – High Power
· Magnetic Base – Medium
· Mini Magnetic Stand
· Edge Finders and Centre Finders
· Wiggler or Centre Finder
· Dial Bore Gauge
· Engineer’s Tool Sets
· Quick Center
· Smart Measure
· The Tool Maker
Machine Accessories
· Universal Tilting Table
· Bench Block
· Drill Chuck Arbors – Taper Shank
· Drill Chuck Arbor – DIN 238
· Drill Chuck Arbors – Threaded
· Pin Chucks
· Straight Stub MT Arbor
· Sitting Saw Arbor
· Drill Sleeves
· Solid Sockets
· Drill Drift Keys
· Extension Sockets
· Precision Live Centre
· Heavy Duty Live Centre
· Lathe Centres (Dead Centres)
· Lathe Carriers
· Lathe Chuck Keys
· Machinist Jack
Cutting Tools
· Tool Bits
· Cut off Blades
· Adjutable Hand Reamer
· Adjustable Hand Reamers Sets
· Wheel Dresser Cutter
· Diamond Dresser
· Knurls
· Boring Bars
Tap Wrenches & Dire Stock Holders
· Tap Wrench – Ratchet Type
· Adjustable Tap & Reamer Wrench – DIN 1814
· Tap Wrenches – T Handle Type
· Die Holder for Round Dies – DIN 225
· Dire Holder for Round Dires
· Die Holder – Shank Type
· Tap and Die Set
· Tap Wrench and Die Holder Assorment
Clamping Tools
· Angle Plate – Slotted
· Stepped Angle Plate
· Fly Cutter Holder Set
Tool Holders
· Fly Cutter Holder Set
· Counter Sink and Deburring Tool (Zero Flute)
· Turning Tool Holders – American Pattern
· Parting Tool Holder
· Turning Tool Holders
· Cut off Tool Holders
· Wheel Dresser
· Knurling Tool Holder – 6 Knurls
· Knurling Tool Holder – 2 Knurls
· Knurling Tool Holder – 1 Knurls
· Shearing and Bending Tools
· Scrappers
· Painter’s Tools
· Punches
· Saws and Saw Blades
· Wrenches and Spanners
· Striking Tools
· Pincers and Cutters
· Pilers
· Vices and Workholding Tools
· Machine Vices
· Bench Vices
· Baby Vices
· Wood Working Vices
· Clamping Tools
· Pin Vices
· Wood Working Accessories
· Lubrication
· Oil Cans and Accessories
· Pumps
· Other Lubrication Accessories
· Gardening Tools
· D. I. Y.
· U-Fix Anchors and Fasteners
It sells its product in the domestic market.
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.39.29 |
|
UK Pound |
1 |
Rs.80.72 |
|
Euro |
1 |
Rs.57.67 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
7 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
8 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
7 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
7 |
|
--CREDIT LINES |
1~10 |
7 |
|
--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 |
|
63 |
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 |
|