MIRA
INFORM REPORT
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Report Date : |
02.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
VAAYU TECH ENGINEERING |
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Registered Office : |
48, 2nd Floor, Navyug Market, Ghaziabad – 201 001, Uttar
Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1998 |
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Com. Reg. No.: |
0909014763 |
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IEC No.: |
0506048462 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MRTV00114C |
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PAN No.: [Permanent
Account No.] |
AQAICS5733M |
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TIN No.: |
096891024334 |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturer and Exporter of Gas Plants and Generators. |
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 18000 |
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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 concern meetings its
normal commitments timeously. Trade relations are fair. Business is active. The concern can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Mirudal Gupta |
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Designation : |
Partner |
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Date : |
24.06.2008 |
LOCATIONS
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Registered Office : |
48, 2nd Floor, Navyug Market, Ghaziabad – 201 001, Uttar
Pradesh, India |
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Tel. No.: |
91-120-2294413 / 3103074 / 6583598 / 2795249 |
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Mobile No.: |
91-9810113798 / 9818264540 |
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Fax No.: |
91-120-2962668 / 2794413 |
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E-Mail : |
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Website : |
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Area : |
1200 Sq.fts |
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Factory : |
E-30 Udyog Kunj, UPSIDC Ind. Area, Ghaziabad – 201 302, Uttar Pradesh,
India |
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Area : |
2 Acres |
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Branches : |
6-B, (KBC) Atmaram House,
1-Tolstoy Marg New Delhi – 10001, India |
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Tel. No.: |
91-011-51503555 / 3666 |
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Fax No.: |
91-011-3357992 |
PARTNERS
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Name : |
Mr. Mohammed Afsar |
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Designation : |
Partner |
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Address : |
Ghaziabad – 201 001, Uttar Pradesh, India |
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Date of Birth/Age : |
36 years |
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Qualification : |
B. Tech |
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Experience : |
18 years |
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Name : |
Mr. Sandeep Sharma |
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Designation : |
Partner |
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Address : |
Ghaziabad – 201 001, Uttar Pradesh, India |
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Date of Birth/Age : |
38 years |
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Qualification : |
B Sc Engineering |
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Experience : |
17 years |
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Name : |
Mr. Mirudal Gupta |
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Designation : |
Partner |
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Address : |
Ghaziabad – 201 001, Uttar Pradesh, India |
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Date of Birth/Age : |
36 years |
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Qualification : |
B Sc Engineering |
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Experience : |
18 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Gas Plants and Generators. |
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Exports : |
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Products : |
Gas Plants |
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Countries : |
North America, South America, Germany, France, Italy, South Asia and
Middle East |
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Imports : |
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Products : |
Machinery and Parts and Chemicals |
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Countries : |
Germany and Belgium |
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Terms : |
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Selling : |
Cash, Credit (30 days) |
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Purchasing : |
Cash, Credit (30 days) |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
50 (10 in Office and 40 in Factory) |
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Bankers : |
State Bank of India , Ghaziabad – 201 001, Uttar Pradesh, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Naveen Pahwa and Company Chartered Accountants |
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Address : |
Ghaziabad – 201 001, Uttar Pradesh, India |
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Associates/Subsidiaries : |
Sam Gas Projects Private Limited, Ghaziabad – 201 001, Uttar Pradesh,
India |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 3.500 millions |
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Borrowed : |
--- |
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Total : |
Rs. 3.500 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
SUMMARIZED
FIGURES:- (BALANCE SHEET)
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Particulars |
31.03.2008 |
31.06.2007 |
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(Rs. In millions) |
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Partners Capital |
3.500 |
3.000 |
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Fixed Assets |
6.400 |
6.250 |
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Current Assets |
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Inventories |
4.000 |
8.000 |
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Sundry Debtors |
4.900 |
4.200 |
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Cash and Bank Balances |
0.320 |
0.370 |
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Current
Liabilities & Provisions: |
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Current Liabilities |
8.400 |
8.000 |
PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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14.000 |
12.500 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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14.000 |
12.500 |
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Profit/(Loss) Before Tax |
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1.250 |
1.215 |
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Provision for Taxation |
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0.000 |
0.000 |
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Profit/(Loss) After Tax |
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1.250 |
1.215 |
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Total Expenditure |
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12.750 |
11.285 |
KEY RATIOS
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
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PAT / Total Income |
(%) |
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8.93 |
9.72 |
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Net Profit Margin (PBT/Sales) |
(%) |
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8.93 |
9.72 |
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCES:-
· Dubai Cable Company Private Limited, Abu Dhabi
· Carbotech Engineering GmbH, Essen
· Orascom Construction Ind. Algeria
· Atlas Capco Air Power NV, Belgium
WEBSITE DETAILS:-
Products
Their variety of products includes -
A. PSA Nitrogen
Gas Generation Plants
PSA nitrogen gas plants produce nitrogen from atmospheric air and
therefore the cost of nitrogen generation is very low.
Salient Features
- Fully automatic start-up by
single push button.
- Very compact skid mounted units
supplied, duly assembled from our factory.
- Start-up time only 5-minutes to get
nitrogen of desired purity.
- No petroleum fuels required - only
electrical power and cooling water needed for nitrogen generation.
- Life of carbon molecular
sieves guaranteed for more than 10 years on continuous operation basis.
B. PSA Oxygen
Gas Generation Plants
The psa oxygen gas generation plants consist of two absorption vessels
and filled with zeolite molecular sieves are alternatively charged with
compressed air to absorb the nitrogen.
Salient Features
- Substantially lower operation cost.
- Based on economical, reliable and proven
technology.
A very simple unit, it is commonly used in industries for small
generation of hydrogen gas. Raw material for this unit is ammonia gas, which is
easily available in cylinders.
Salient Features
- Fully
automatic, easy to operate and virtually requires no maintenance.
- Very compact
and can be installed very close to PSA Nitrogen generating equipment.
The heartless type unit has become very popular due to its trouble free
performance and simplicity. It removes all the moisture and oil droplets from
the compressed air and gives bone dry and compressed air.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.27 |
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UK Pound |
1 |
Rs.86.28 |
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Euro |
1 |
Rs.68.24 |
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 |
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 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
YES |
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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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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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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