MIRA
INFORM REPORT
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Report Date : |
14.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
SAM GAS PROJECTS PRIVATE LIMITED |
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Registered Office : |
C -25/5, Middle Circle Connaught Place, New Delhi - 110 001 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
27.02.2004 |
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Com. Reg. No.: |
55-124899 |
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CIN No.: [Company
Identification No.] |
U40200DL2004PTCPTC124899 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS29224G |
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PAN No.: [Permanent
Account No.] |
AAICS5733M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Nitrogen Generators/PSA Nitrogen
Gas Generators, Oxygen Generators/PSA
Oxygen Gas Generators, Hydrogen
Generators, Lab Scale Nitrogen Plant, Compressed Air Dryer, Ammonia Crackers, Gas Purification
Units, Spares,
etc |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Maximum Credit Limit : |
USD 15000 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profit margin
is under pressure. Payments are reported as slow. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
C -25/5, Kolaba Centre, Middle Circle Connaught Place, New Delhi
- 110 001, India |
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Tel. No / Fax No.: |
91-11-23417413 / 2962668 |
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E-Mail : |
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Website : |
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Factory : |
E-30, Udyog Kunj, UPSIDC, Industrial Area, Opposite Mehrauli Railway
Station, Dasna, Ghaziabad – 2013 02, Uttar Pradesh, India |
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Tel. No.: |
91-120-3103074 / 4372549 / 2794413 |
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Mobile No.: |
91-9213426721 / 9810868610 / 9212087460 / 9818264540 |
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Fax No.: |
91-120-2795249 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Mirdul Kumar Gupta |
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Designation : |
Director |
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Address : |
C -1 R – 8/9, Krishna Residency Raj Nagar, Ghaziabad – 201 001, Uttar
Pradesh, India |
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Date of Birth/Age : |
08.05.1968 |
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Date of Appointment : |
27.02.2004 |
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Name : |
Mr. Lubna Saghir |
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Designation : |
Director |
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Address : |
B -331, IInd Floor, Nai Basti Okhla Jamia Nagar, Delhi – 110 020,
India |
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Date of Birth/Age : |
01.02.1975 |
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Date of Appointment : |
27.02.2004 |
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Name : |
Mr. Sachin Sharma |
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Designation : |
Director |
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Address : |
312, Vaishno Devi Apartment, R – 1/3, Raj Nagar, Ghaziabad – 201 001,
Uttar Pradesh, India |
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Date of Birth/Age : |
26.06.1977 |
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Date of Appointment : |
27.02.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders (as on 31.03.2007) |
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No. of Shares |
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Mr. Mirdul Gupta |
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5000 |
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Mr. Sachin Sharma |
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2000 |
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Mr. Lubna Sagir |
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3000 |
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Mr. Sandeep Sharma |
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4000 |
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Mr. Mohamed Afsar |
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4500 |
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Ms. Ranu Sharma |
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3000 |
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Mrs. Archana Gupta |
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3000 |
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Mr. Mohammed Hayat |
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4000 |
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Mr. Rajeev Kumar Sharma |
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3000 |
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Mr. Nagender Bahadur |
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5000 |
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Mr. Qamer |
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3000 |
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Mr. Zaheda |
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2500 |
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Mr. Mukul Gupta |
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3000 |
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Mr. Vivek Gupta |
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3500 |
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Mr. Rahul Gupta |
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2500 |
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Mr. Vipin Gupta |
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3000 |
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Mr .Anil Sharma |
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5000 |
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Mr. Prem Lata Sharma |
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3000 |
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Mr. Kamran |
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3000 |
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Mr. Praveen Sharma |
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3000 |
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Mrs. Rohini Delhi |
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3000 |
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Mr. Mohan Yadav |
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3000 |
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Mr. R K Gupta |
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3000 |
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Mr. S D Sharma |
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3000 |
Equity Shares Breakup (Percentage of Total Equity): (as on 31.03.2007):-
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Sr No. |
Category |
Percentage |
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1 |
Directors or relative of directors |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Nitrogen Generators/PSA Nitrogen
Gas Generators, Oxygen Generators/PSA
Oxygen Gas Generators, Hydrogen
Generators, Lab Scale Nitrogen Plant, Compressed Air Dryer, Ammonia Crackers, Gas Purification Units,
Spares,
etc |
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Products : |
·
Nitrogen Generators/PSA Nitrogen Gas Generators ·
Oxygen Generators/PSA Oxygen Gas Generators ·
Hydrogen Generators ·
Lab Scale Nitrogen Plant ·
Compressed Air Dryer ·
Ammonia Crackers ·
Gas Purification Units ·
Spares. |
GENERAL
INFORMATION
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No. of Employees : |
50 |
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Bankers : |
· Punjab National Bank Address: Ghaziabad · HDFC Bank Address: Ghaziabad |
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Banking
Relations : |
---- |
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Auditors : |
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Name : |
Mr. Navin Pahawa Chartered Accountants |
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Address : |
48, Navyug Market, Ghaziabad – 201 001, Uttar Pradesh, India |
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Associates/Subsidiaries : |
Vaayotech Engineering, Ghaziabad |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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350000 |
Equity shares |
Rs. 10/- each |
Rs. 3.500 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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347500 |
Equity Shares |
Rs. 10/-
each |
Rs. 3.475
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
3.475 |
1.900 |
0.800 |
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2] Share Application Money |
0.000 |
0.555 |
0.180 |
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3] Reserves & Surplus |
0.139 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
[0.070] |
0.000 |
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NETWORTH |
3.614 |
2.385 |
0.980 |
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LOAN FUNDS |
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1] Secured Loans |
0.374 |
0.000 |
0.000 |
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2] Unsecured Loans |
1.118 |
0.835 |
0.110 |
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TOTAL BORROWING |
1.492 |
0.835 |
0.110 |
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DEFERRED TAX LIABILITIES |
0.073 |
0.031 |
0.000 |
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TOTAL |
5.179 |
3.251 |
1.090 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.807 |
2.068 |
0.967 |
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Capital work-in-progress |
0.000 |
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 |
3.887
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1.051 |
0.000 |
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Sundry Debtors |
2.053
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1.857 |
0.000 |
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Cash & Bank Balances |
0.284
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0.108 |
0.033 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
1.484
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0.018 |
0.000 |
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Total
Current Assets |
7.708
|
3.034 |
0.033 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
5.000
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1.726 |
0.000 |
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Provisions |
0.415
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0.214 |
0.009 |
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Total
Current Liabilities |
5.415
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1.940 |
0.009 |
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Net Current Assets |
2.293
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1.094 |
0.024 |
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MISCELLANEOUS EXPENSES |
0.079 |
0.089 |
0.099 |
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TOTAL |
5.179 |
3.251 |
1.090 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover
(Estimated) |
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6.000 |
3.000 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.91
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1.16 |
0.12 |
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Current Ratio (Current Asset/Current Liability) |
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1.42
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1.56 |
3.67 |
LOCAL AGENCY
FURTHER INFORMATION
WEBSITE DETAILS:
An ISO 9001:2000 certified company dealing in premium quality Nitrogen Generators, Oxygen Generators, Hydrogen Generators, Compressed Air Dryers, Ammonia Crackers, etc
Who are they?
The need for industrial gases (oxygen and nitrogen) is constantly changing along with the customer's supply requirements. The company with its wide coverage of gas products, process technologies and related engineering services, stands ready with an experienced team of employees to provide customized solutions to meet the individual requirements of their valued customers. Established in 1998, today, they are a leading manufacturer and exporter of state-of-the-art gas plants such as PSA Nitrogen Gas Plants, Oxygen Plants, Ammonia Crackers (Hydrogen Generators), Compressed Air/Gas Drying Systems, etc.
Their company is also an eminent service provider offering project-engineering solutions. They understand that every application and location is unique, their
company provides a range of cost effective and reliable systems accordingly.
Their engineers work with their customers, analyze their requirements and
propose a system that best fits their specification. This typically includes
designing, manufacturing, installing and start-up of the system. They are proud
of their association with the Small Scale Industry (SSI).
What they offer?
They are a
distinguished service provider offering project-engineering solutions
and also revamping of existing systems.
Their products are so designed so as to operate for ages under the most harsh
conditions. Subject is engaged in the manufacture and export of the following:
Nitrogen
Generators/PSA Nitrogen Gas Generators
- Product Attributes:
- Flow rate -
1 to 1500 Nm3/hr
- N2 purity -
95% to 99.9999 %
- Pressure –
Standard
- Dew point -
upto (-80)0 C
Oxygen
Generators/PSA Oxygen Gas Generators
- Industry Applications
- Chemical
Oxidation
- Welding
- Melting
- Brazing
Hydrogen
Generators
- Product Attributes
- Flow rate -
1 to 200 Nm3/hr
- H2 purity -
<2 PPM
- Pressure -
as required
- Dew point -
upto (-60)0 C
Lab Scale Nitrogen Plant
- Product Attributes
- Flow rate -
5 to 100 ltrs/minute
- N2 purity -
95% to 99.9999%
- Pressure -
Standard
- Dew point -
upto (-50)0C
Compressed Air
Dryer (Heat-less, Heat of Compression (HOC), Internal Heat Reaction, No Purge
Loss)
- Product Attributes
- Flow rate -
1 to 500 Nm3/hr.
- Pressure -
0.5 to 15 kg/cm2g
- Dew point-
upto (-80)0C
- Ammonia Crackers
- Gas Purification Units
- Spares.
Total Quality Management
TQM Program followed at their company, is a systematic and disciplined approach to achieving excellence in all new and existing processes. It is an important part of the continuous improvement process within the company. Implementation of the TQM ensures compliance with established international quality standards.
They have a team of quality control officers to ensure that
quality is maintained at every level, right from production to the dispatch of
the final products. Owing to their stringent quality policy, they have been
accredited with an ISO 9001:2000 certification.
Infrastructure
Their fully integrated state-of-the-art manufacturing plant at Ghaziabad boasts
of some of the most advanced production, quality and testing capabilities in
the country. The R and D team focuses on the development of new products and
technologies, in accordance with evolving customer preferences across the globe.
Owing to the premium quality of their products, they have a wide customer base
both in the domestic as well as in the international market. 50% of their
products are exported to Gulf and the African countries, where they are highly
appreciated.
Environmental Compliance
At the company, they put special emphasis on environmental
and ecological issues. Apart from their compliance with international and
national environmental regulations, they have also taken up some special
measures to preserve and regenerate the environment.
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.39.94 |
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UK Pound |
1 |
Rs.78.81 |
|
Euro |
1 |
Rs.63.05 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
---- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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29 |
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 |
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