MIRA
INFORM REPORT
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Report Date : |
20.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
WORLD TECHNOLOGICAL PRODUCTS PRIVATE LIMITED |
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Registered Office : |
2ND Floor, Vardhman South Plaza, H-8, LSC, Polket -H, Sarita
Vihar, New Delhi – 110076 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
15.10.1997 |
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Com. Reg. No.: |
090201 |
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CIN No.: [Company
Identification No.] |
U51109DL1997PTC090201 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELW00664G |
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PAN No.: [Permanent
Account No.] |
AAACW1069J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject Provides Automation Products for all Industrial Automation
Application |
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 27740 |
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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. Directors are
reported as experienced and respectable businessmen. Trade relations are
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 : |
2ND Floor, Vardhman South Plaza, H-8, LSC, Polket -H,
Sarita Vihar, New Delhi – 110076, India |
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Tel. No.: |
91-11-41402100 / 41402101 / 26948356 / 26946674 |
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Mobile No.: |
91-9818998335 |
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Fax No.: |
91-11-26948656 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Suresh Chand Gupta |
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Designation : |
Director |
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Address : |
C – 276, Sarita Vihar, New Delhi –110044 |
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Date of Birth/Age : |
25.05.1949 |
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Date of Appointment : |
15.10.1997 |
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Name : |
Mr. Dinesh Gupta |
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Designation : |
Director |
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Address : |
J – 101, Sarita Vihar, New Delhi – 110044 |
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Date of Birth/Age : |
01.01.1968 |
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Date of Appointment : |
15.10.1997 |
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Name : |
Mrs. Pushpa Gupta |
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Designation : |
Director |
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Address : |
C – 276, Sarita Vihar, New Delhi – 110044 |
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Date of Birth/Age : |
16.02.1954 |
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Date of Appointment : |
15.10.1997 |
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Name : |
Mrs. Sushma Gupta |
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Designation : |
Director |
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Address : |
J – 101, Sarita Vihar, New Delhi – 110044 |
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Date of Birth/Age : |
06.08.1970 |
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Date of Appointment : |
30.03.1998 |
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Name : |
Mr. Vivek Gupta |
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Designation : |
Director |
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Address : |
C – 276, Sarita Vihar, New Delhi – 110044 |
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Date of Birth/Age : |
07.09.1979 |
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Date of Appointment : |
01.03.2004 |
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Name : |
Mrs. Sonali Gupta |
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Designation : |
Director |
KEY EXECUTIVE
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Name : |
V Hari and Company |
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Designation : |
Company Secretary |
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Address : |
29, Vaishali, Pitampura, Delhi - 110088 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Suresh Chand Gupta |
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100000 |
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Mr. Dinesh Gupta |
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70000 |
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Mrs. Pushpa Gupta |
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30000 |
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Mrs. Sushma Gupta |
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30000 |
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Mr. Surender Babu Jain HUF |
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100 |
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Mrs. Anjana Jain |
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100 |
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Mr. C.M. Gupta |
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10000 |
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Mr. Rajesh Gupta |
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10000 |
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Mr. Vivek Gupta |
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10000 |
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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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92.60 |
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Other top fifty shareholders |
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7.40 |
BUSINESS DETAILS
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Line of Business : |
Subject Provides Automation Products for all Industrial Automation
Application |
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Products : |
˛ MMI’s AC Drive (
VFD) ˛ Soft starter ˛ Sensors ˛ Encoders and
Position Transducers ˛ Programming and
SCADA Software |
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GENERAL
INFORMATION
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Bankers : |
˛ ABN Amro Bank ˛ Corporation Bank ˛ ICICI Bank ˛ Standard
Chartered Bank ˛
Punjab and
Sind Bank Sarita Vihar
Branch, Sarita Vihar, New Delhi – 110076 E-Mail: rsa.fcs@gmail.com |
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Banking Relations
: |
Satisfactory |
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Auditors : |
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Name : |
Anil Sagar and Company Chartered Accountants |
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Address : |
PKT, A – 8/103, Swapan Kunj, Kalkaji Extn., New Delhi – 110019 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
275300 |
Equity Shares |
Rs.10/- each |
Rs.2.753
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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2.753 |
2.753 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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4.182 |
3.921 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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6.935 |
6.674 |
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LOAN FUNDS |
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1] Secured Loans |
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8.838 |
8.126 |
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2] Unsecured Loans |
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9.644 |
4.922 |
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TOTAL BORROWING |
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18.482 |
13.048 |
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DEFERRED TAX LIABILITIES |
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0.072 |
0.153 |
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TOTAL |
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25.489 |
19.876 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.767 |
2.205 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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7.304 |
4.075 |
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Sundry Debtors |
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14.205 |
13.184 |
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Cash & Bank Balances |
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3.287 |
2.989 |
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Other Current Assets |
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0.334 |
0.000 |
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Loans & Advances |
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0.912 |
0.786 |
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Total
Current Assets |
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26.043 |
21.034 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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2.350 |
2.780 |
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Provisions |
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0.978 |
0.597 |
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Total
Current Liabilities |
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3.328 |
3.377 |
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Net Current Assets |
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22.714 |
17.656 |
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MISCELLANEOUS EXPENSES |
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0.010 |
0.014 |
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TOTAL |
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25.489 |
19.876 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover |
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85.077 |
80.900 |
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Other Income |
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1.780 |
2.380 |
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Total Income |
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86.857 |
83.280 |
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Profit/(Loss) Before Tax |
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1.472 |
1.603 |
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Provision for Taxation |
|
0.584 |
0.624 |
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Profit/(Loss) After Tax |
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0.888 |
0.979 |
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FOB Value of export |
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4.037 |
2.672 |
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CIF Value of import |
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0.306 |
0.217 |
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Expenditures |
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Total Expenditure |
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84.712 |
81.269 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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1.02 |
1.17 |
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Net Profit Margin (PBT/Sales) |
(%) |
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1.73 |
1.98 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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3.08 |
6.89 |
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Return on Investment (ROI) (PBT/Networth) |
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0.21 |
0.24 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.27 |
2.64 |
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Current Ratio (Current Asset/Current Liability) |
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1.14 |
1.19 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
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Name of the company |
WORLD TECHNOLOGICAL PRODUCTS PRIVATE LIMITED |
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Presented
By |
Punjab and Sind
Bank and Company |
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1) Date and description of instrument creating the change |
Agreement for hypothecation
of goods to secure a demand cash credit. Dated 11.08.2005. Agreement for
hypothecation of book debts dated 11.08.2005 and letter of continuity dated
11.08.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.1.000 million |
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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 borrower
hereby hypothecates in favour of the bank borrower’s stock of industrial
automotive products whether raw materials or in process of manufacture and
all articles manufactured there from which now or which may thereafter or
from time to time during the currency of borrowers godowns or premises at 2ND
Floor, Vardhman South Plaza, H-8, LSC, Polket -H, Sarita Vihar, New Delhi –
110076 or wherever also the same may be including any such goods in course
of transit or delivery. All the borrower’s present and future book debts, outstanding moneys receivable,
claims, bills contract, securities engagement, investments, rights and assets
are hypothecated to the bank as first charge as security for the payment to
the bank in respect of the said owned account. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The above is to
secure cash credit guarantee of Rs.1.000 million. Margin 25% of market value
of hypothecated goods and 50% of book debts. Interest rate 11% or any respect
of the said overdraft account. |
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5) Name and Address and description of the person entitled to the charge. |
Punjab and Sind
Bank, Sarita Viahr Branch, New Delhi |
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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 |
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Corporate
identity number (CIN) Foreign company registration number |
U51109DL1997PTC090201 |
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Name of the
Company |
WORLD TECHNOLOGICAL PRODUCTS PRIVATE LIMITED |
|
Address |
2ND Floor, Vardhman South Plaza, H-8, LSC, Polket -H,
Sarita Vihar, New Delhi – 110076 |
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This form is for |
Modification of
charge |
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Type of Charge |
Book Debts, Movable
property (not being pledge) |
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Particulars of
the charge holder |
Punjab and Sind
Bank Sarita Vihar
Branch, Sarita Vihar, New Delhi – 110076 E-Mail: rsa.fcs@gmail.com |
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Amount secured by
the charge |
Rs.7.000 millions |
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Brief of the
principal terms and conditions |
Rate of Interest: 12.75% p.a. Terms of
repayment Repayment on
demand on expirey o f BG Extent and
operation of the charge: Whole bock debts and
stock of the company and collateral security given by the company |
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Date of
Instrument creating or modifying the charge |
23.03.2007 |
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Particular of the
present modification |
Limit enhanced to
Rs.7.000 millions (cash credit of Rs.6.000 millions and Rs.1.000 million as
bank guarantee) |
As Per Web details
attached
Company Profile:
Subject was established in 1996 by S.C. Gupta and Dinesh Gupta with a vision to emerge as
one stop automation products provider for all INDUSTRIAL
AUTOMATION APPLICATION driven by professional engineers. Subject offers
a wide range of products which include PLC’s, MMI’s AC Drive ( VFD), Soft
starter, Sensors, Encoders and Position Transducers ,Programming and SCADA
Software . Subject has emerged as a preferred sourcing point by various
industries like
- PROCESS
INDUSTRIES
- AUTOMOTIVES
- FOOD AND
BEVERAGES
- METAL
INDUSTRIES
- PICTURE TUBE
- FABRIC
MANUFACTURES
- SPM
MANUFACTURES
Subject has entered into a business tie up
with M/S Rockwell Automation ( ALLEN BRADLEY) who are the world leader in the
field of Industrial Automation. They are their authorized distributor.
To serve their customers timely and efficiently they maintain sufficient stocks
all the time of all Products.
STRENGTHS
- Training
Training programs on the automation products i.e PLC’s variable
frequency, Drives ,sensors ,MMI etc, which briefs about the concept of
automation using PLC , Selection of PLC , Hardware installation , Software
Development , Commissioning , Trouble shooting provide three days hands-on the
product .
- Services
A team of highly skilled engineers to provide product selection ,
software programming , trouble shooting and customer support at site.
- System Integrator
A chain of highly experienced system integrator who undertake jobs on
TURN-KEY basis which includes design , panel building , software development ,
installations and commissioning at site with after sale service support in
following areas .
Major Projects
Executed by System Integrators
POWER SECTOR
- Sub station
(66 /3/ 11 kv)
- Rotational
load shedding system for 220 kv substation
- Boiler
Automation
- Picture tube
manufacturing plant Automation
- Tyre and tube
manufacture plant
- Banbury ( Rubber
mixture ) Automation & Recipe Control
- Rubber
Exteruder ----Single Duplex
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.39.34 |
|
UK Pound |
1 |
Rs.80.72 |
|
Euro |
1 |
Rs.57.71 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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|
|
--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
|
|
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--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
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--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. |
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 |
|