MIRA
INFORM REPORT
|
Report Date : |
23.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
V P G BUILDWELL INDIA PRIVATE LIMITED |
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Registered Office : |
2/195A, Avinashi Road, Behind KGM Hospital, Chiniyampalayam,
Coimbatore – 641062, Tamilnadu, India |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
28.08.1991 |
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Com. Reg. No.: |
18 - 3408 |
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CIN No.: [Company
Identification No.] |
U14102TZ1991PTC003408 |
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IEC No.: |
3205022394 |
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PAN No.: [Permanent
Account No.] |
AAFCS2050B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Granite Cutting and Polishing Machines, Construction Equipmens |
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 3180 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small company having moderate track. Financial position
can be regarded as moderate. Trade relations are fair. The concern can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. V Gunashankaran |
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Designation : |
Director |
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Contact No.: |
91-9842210000 |
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Date : |
20.08.2008 |
LOCATIONS
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Registered Office : |
2/195A, Avinashi Road, Behind KGM Hospital, Chiniyampalayam, Coimbatore
– 641062, Tamilnadu, India |
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Tel. No.: |
91-422-6540000 / 6580000 / 2627356 / 2627702 / 2627452 |
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Fax No.: |
91-422-2627452 |
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Mobile No.: |
91-9842210000 / 9865110000 / 9865210000 |
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E-Mail : |
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Area : |
2500 sq ft |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. V Gunashankaran |
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Designation : |
Director |
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Address : |
7/7A, Avanashi Road, Chinni Ampalayam, Colmbajore – 641062, Tamilnadu,
India |
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Date of Birth/Age : |
13.08.1971 |
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Qualification : |
B.E. |
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Date of Appointment : |
28.08.1991 |
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Name : |
Mr. R.G. Vaani |
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Designation : |
Director |
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Address : |
7/7A, Avanashi Road, Chinni Ampalayam, Colmbajore – 641062, Tamilnadu,
India |
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Date of Birth/Age : |
06.01.1977 |
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Qualification : |
B.B.M. |
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Date of Appointment : |
17.11.2004 |
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Name : |
Mr. P. Parijatam |
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Designation : |
Director |
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Address : |
2/195A, Avanashi Road, Chinni Ampalayam, Colmbajore – 641062,
Tamilnadu, India |
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Date of Birth/Age : |
06.06.1952 |
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Date of Appointment : |
28.08.1991 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 31.03.2007
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Names of Shareholders |
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No. of Shares |
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Mr. V Gunashankaran |
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1702 |
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Mr. R.G. Vaani |
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1000 |
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Mr. P. Parijatam |
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1601 |
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Total |
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4303 |
AS ON 31.03.2007
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Granite Cutting and Polishing Machines, Construction Equipmens |
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Products : |
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Exports : |
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Countries : |
Maldives, Dubai, Sri Lanka. |
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Terms : |
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Selling : |
Cash and Credit (30 Days) |
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Purchasing : |
Credit (30 Days) 50% Ageist |
GENERAL
INFORMATION
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Customers : |
Manufacturer and Suppliers |
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No. of Employees : |
90 (Office – 10, Factory - 80) |
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Bankers : |
City Union Bank, Vilankuruchi Branch, Avanashi Road, Coimbatore –
641004, Tamilnadu, India |
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Facilities : |
O/D – RS.2.000 Millions |
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Auditors : |
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Name : |
Raja and Raman and Company Chartered Accountant |
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Address : |
1055/11, Gowthm Center, 1st Floor, Avanashi Road,
Coimbatore – 641018, Tamilnadu, India |
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Associates/Subsidiaries : |
VPG Construction Equipment, Opp. Apurva Restorant |
CAPITAL STRUCTURE
AS ON 10.09.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
|
25000 |
Equity Shares |
Rs. 100/- Each |
Rs.2.500
Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
5803 |
Equity Shares |
Rs. 100/- Each |
Rs.0.580 Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover |
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20.000 |
Expected Sales (2008-09) : Rs.30.000 Millions (Expected)
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 |
0.580 |
0.580 |
0.580 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.056 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
(0.189) |
(0.354) |
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NETWORTH |
0.636 |
0.391 |
0.226 |
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LOAN FUNDS |
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1] Secured Loans |
5.123 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.545 |
5.392 |
5.848 |
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TOTAL BORROWING |
5.668 |
5.392 |
5.848 |
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DEFERRED TAX LIABILITIES |
0.545 |
0.522 |
0.480 |
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TOTAL |
6.849 |
6.305 |
6.554 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4.569 |
4.404 |
4.413 |
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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 |
4.148 |
2.653 |
2.025 |
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Sundry Debtors |
1.216 |
1.743 |
2.027 |
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Cash & Bank Balances |
0.396 |
0.640 |
0.105 |
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Other Current Assets |
1.331 |
0.000 |
0.000 |
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Loans & Advances |
0.118 |
0.190 |
0.151 |
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Total Current
Assets |
7.209 |
5.226 |
4.308 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
5.436 |
3.305 |
2.168 |
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Provisions |
0.038 |
0.021 |
0.000 |
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Total Current
Liabilities |
5.474 |
3.326 |
2.168 |
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Net Current
Assets |
1.735 |
1.900 |
2.140 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.001 |
0.001 |
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TOTAL |
6.304 |
6.305 |
6.554 |
PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Sales Turnover |
|
11.903 |
10.061 |
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Other Income |
|
0.000 |
0.000 |
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Total Income |
|
11.903 |
10.061 |
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Profit/(Loss) Before Tax |
|
0.310 |
0.229 |
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Provision for Taxation |
|
0.065 |
0.063 |
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Profit/(Loss) After Tax |
|
0.245 |
0.166 |
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Total
Expenditure |
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11.593 |
9.832 |
KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
0.02 |
0.01 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
0.02 |
0.02 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.02 |
0.02 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.48 |
0.58 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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17.51 |
22.29 |
35.46 |
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Current Ratio (Current Asset/Current Liability) |
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1.31 |
1.57 |
1.98 |
LOCAL AGENCY
FURTHER INFORMATION
Trustseal Acceptance
Chart
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Existence Verification |
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Name |
V P G BUILDWELL INDIA PRIVATE LIMITED |
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Statutory Approvals |
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Income Tax Registration |
AAFCS2050B |
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Central Sales Tax Registration |
660909 |
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VAT/ TIN Registration |
33322462212 |
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Import Export Code |
3205022394 |
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Name of Bank |
City Union Bank |
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Current Account Number |
91462 |
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Account Since |
5 Years |
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Credibility Factors |
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Years of Establishment |
2 Years |
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Trade Affiliations |
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SSI Registration |
331228308 dated. 08.12.1994 |
Form No. 8
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This form is for |
Creation of
charge |
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Charge
identification number of the modified
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Corporate
identity number of the company |
U14102TZ1991PTC003408 |
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Name of the
company |
V P G BUILDWELL INDIA PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
2/195A, Avinashi Road, Behind KGM Hospital, Chiniyampalayam,
Coimbatore – 641062, Tamilnadu, India |
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Type of charge |
Book Debts Movable Property Other |
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Particular of
charge holder |
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Nature of
description of the instrument creating or modifying the charge |
From LCH – Agreement
of Loan Cum Hypothecation (F No. 259) |
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Date of
instrument Creating the charge |
27.03.2008 |
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Amount secured by
the charge |
Rs.2.200 Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest OLCC Limit of
Rs.2.200 Millions – PLR + 0.22% p.a. present PLR – 13.75% subject to a
minimum of 14% p.a. Terms of
Repayment Repayable on
demand however the due date of limit
is 31.03.2009 Margin 25% Extent and Operation
of the charge Primary security:
goods, produce, mercandies, stock in all forms (Raw material, Semi finish
goods and Finish goods) store or to be stored from time to time under open loan cash credit and other
working capital facility such as cash at stock of iron, steels, motors
hyperbolic accessories and tyres, finish and semi finish stock of above items
stored at 2/195A, Avinashi Road, Behind KGM Hospital, Chiniyampalayam,
Coimbatore – 641062, Tamilnadu, India Others COL SEC : land to
an extent of 5120 sq ft at sf no.487/2 in udco colony Soveripalyam Village
with residensial building owned by parijatham and gunasekaran valued at
647/2E and 148 areas at S F No. 647/2B vellamadai owned by Mrs. V Parajatham
valued Rs.1.788 Millions and Vacant land at (With granite deposit) to an extent of 1.000 acres at SF No.
647/1B Vellamadai Village Owned by Mr. Anand at Rs.0.600 Million |
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Short particulars
of the property charged |
Primary security:
goods, produce, mercandies, stock in all forms (Raw material, Semi finish
goods and Finish goods) store or to be stored from time to time under open loan cash credit and other
working capital facility such as cash at stock of iron, steels, motors
hyperbolic accessories and tyres, finish and semi finish stock of above items
stored at 2/195A, Avinashi Road, Behind KGM Hospital, Chiniyampalayam,
Coimbatore – 641062, Tamilnadu, India |
Web Details
Attached
About Them
Coined in 1993, Subject is a reputed name engaged in manufacturing
and exporting a wide range of construction machines which are used for several
construction purposes. All these machines are environmentally safe and also
made with precision and accuracy. Their wide range includes concrete mixer
machine and concrete plants. Under the guidance of their founder members
Mr.V.Gunashankaran and Vaani R.G., they have made tremendous improvements in
this domain. Their mentor Mr. A.S.Varatharajan have 27 yrs of experience in
this construction industry and have taken them onto new heights.
All their production processes are streamlined and function
according to the desired pattern so that the production targets can be met.
They have set up a team of highly qualified and trained workforce who work in
complete coordination and harmony with each other. Their devised quality
management system is completely unique and flawless and they follow each and
every step to design and manufacture such high performing products in order to
meet their clients expectations.
Team
They have a team of 150 professionals which includes
technocrats, engineers, mechanical designers, administrative experts, quality
analysts and other allied workforce, who are competent in their job and have
complete product development knowledge. Their experienced designers prepare a
rough draft of the product to be designed and after its approval by all the
technocrats and engineers start the production process.
Their designs pay complete attention to every minute detail while preparing the
design. In order to achieve the desired production targets, they also impart
regular training to their new and semi skilled workers to make them proficient
so that the wastages are minimized and the production output is increased. With
the assistance of their team members and machines they have attained an annual
turnover of INR 1.5 crores and can easily produce 30 machines.
Product Profile
Adhering to impeccable quality, specialized features and
high performance, they have achieved a maximum degree of customer appreciation
for their products resulting in worldwide customer base. All their products are
madeusing premium quality materials which are procured from reliable sources.
All these products are engineered to perfection and are rugged in construction
as well as robust in design.
Their range of products are made with technical superiority and provide
extraordinary accuracy and speed. With various features like easy to maintain,
corrosion resistant, enhanced performance, durability, rugged design, high
capacity and variable speed, their products are designed and developed
according to the designs and specifications provided by the clients.
Production
Facility
They incorporate state-of-the-art infrastructure which is
spread in an area of 2 aces an is conjugated with innovative and cutting edge
technology. Their infrastructural set up includes sophisticated and highly
modernized machines which can function efficiently even under extremely harsh
conditions. They use machines like Lathe Machine, Drilling Machine, Grinding
Machine, Hydraulic Press, Welding Machines (Oil Cooled welding, Arc welding)
according to the required technical specifications. They also use auto CAD and
softwares like Pro Engineer.
They have manufacturing units in Coimbatore. They have various departments
like admin, production and sales in order to assist in the production process
and meet the desired turnover with ease. Their production facility is
completely geared up and streamlined to fulfill their clients requirement.
Research
and Development
They have set up a highly advanced R&D lab which is
fully equipped with all the research facilities. Their R&D unit consists of
research professionals and associates who conduct constant market research and
prepare reports on the basis of the analysis done. These reports are then
further studied by development experts who mention their suggestions on the
reports which are again sent to the production unit for further improvisations.
.
Quality Assurance
They have framed a strict quality management policy which is
diligently practiced within the organization at all levels. They have appointed
a team of quality analysts, who work according to the set guidelines. They use
various raw materials like Rough Casting, MS Plates, Channels, Angles,
Flats, Electrical Motors, Engine, Hydraulic Equipments, etc., to
manufacture their products. All these raw materials used for their products are
procured from their own foundry to make castings and local vendors, who share a
good market reputation.
Every finished product which comes out of their manufacturing unit passes
through stringent quality control tests like weighing test, capacity test,
hydraulic pressure test adhering to international quality standards. Complete
efforts are continuously made by their team to manufacture products which are
superlative in quality and completely flawless.
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.43.38 |
|
UK Pound |
1 |
Rs.81.34 |
|
Euro |
1 |
Rs.64.55 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
32 |
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 |
|