MIRA
INFORM REPORT
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Report Date : |
07.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
GREEN ELECTRICALS PRIVATE LIMITED |
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Registered Office : |
G-9, Sterling Centre, R C Dutt Road, Alkapuri, Vadodara – 390 007,
Gujarat |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
25.05.2005 |
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Com. Reg. No.: |
046129 |
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CIN No.: [Company
Identification No.] |
U52335GJ2005PTC046129 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
BRDG01251F |
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PAN No.: [Permanent
Account No.] |
AACCG4053A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Dealing in Cables and Wires |
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 10000 |
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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 has taken over the running business of erstwhile proprietory
concern Green Electricals. Trade relations are fair. Business is active.
Payments are reported as usually correct and as per commitments. The company can be considered good for normal business dealings. |
LOCATIONS
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Registered Office : |
G-9, Sterling Centre, R C Dutt Road, Alkapuri, Vadodara – 390 007,
Gujarat, India |
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Tel. No.: |
91-265-2358475 / 2340116 |
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Fax No.: |
91-265-2359242 |
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E-Mail : |
green@icenet.net |
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Corporate Office : |
Green House, 152, GIDC, Makarpura, Vadodara – 390 010, Gujarat, India |
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Tel. No.: |
91-265-2636607 |
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Fax No.: |
91-265-2636606 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Girishchandra Navnitlal Shah |
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Designation : |
Director |
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Address : |
2, Someshwar Society, B/h Utkersh School, Lion Hall, Road, Opp. Gotri
Road, Vadodara – 390 007, Gujarat, India |
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Date of Birth/Age : |
09.09.1946 |
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Date of Appointment : |
25.05.2005 |
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Name : |
Mr. Bhavin Girisg Shah |
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Designation : |
Director |
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Address : |
B-16, No.1, Nilambar Bunglow, Saiyad Vasna Road, Vadodara – 390 015,
Gujarat, India |
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Date of Birth/Age : |
19.11.1974 |
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Date of Appointment : |
25.05.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
Equity shares Breakup (percentage of total equity)
(As on 30.09.2007)
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Category |
Percentage |
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Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Dealing in Cables and Wires |
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Products : |
·
L. T. PVC & XLPE Power Cables With Copper/Aluminium Conductor (650
/ 1100 V. Upto 4 Core X 630 Sq.mm., 1 Core X 1000 Sq mm) ·
L.T. PVC & XLPE Control cables (650/1100v. Upto 61 Core X 1.5
& 2.5 Sq. mm.) ·
H. T. XLPE Cables Upto 66 kv ·
Instrumentation Cables Screened / Unscreened Type In PVC/ LDPE ·
Thermo-couple Compensating Cables ·
FRLS / FR / HR / HFFR / HOFR / RUBBER / LDPE-Power, Control & Instrumentation
Cables |
GENERAL
INFORMATION
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Customers : |
·
Apollo Tyres ·
Videocon ·
Blue Star ·
GM India ·
Ajanta Quartz ·
GAIL (India) Limited ·
Sun Pharmaceutical Industries Limited ·
ALSTOM ·
Chiripal |
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Bankers : |
Union Bank of India Sayaji Gunj Branch, Union Bank Bhavan, Sayaji Gunj, Vadodara – 390
005, Gujarat, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
MS Naresh and Company Chartered Accountants |
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Address : |
201-203, City Enclave, Opp. Polo Ground Bagikhana, Baroda – 390 001,
Gujarat, India |
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Group Company : |
·
Transpower Technologies Private Limited ·
Yash High Voltage Insulators Private Limited ·
Desai Brother & Company |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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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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1.965 |
0.225 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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2.065 |
0.325 |
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LOAN FUNDS |
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1] Secured Loans |
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5.101 |
0.000 |
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2] Unsecured Loans |
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0.850 |
0.000 |
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TOTAL BORROWING |
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5.951 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.026 |
0.005 |
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TOTAL |
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8.042 |
0.330 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.385 |
0.061 |
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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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7.511 |
4.430 |
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Sundry Debtors |
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17.713 |
9.998 |
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Cash & Bank Balances |
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0.178 |
0.758 |
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Other Current Assets |
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0.00 |
0.000 |
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Loans & Advances |
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1.872 |
0.145 |
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Total
Current Assets |
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27.274 |
15.331 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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18.162 |
14.744 |
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Provisions |
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1.470 |
0.338 |
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Total
Current Liabilities |
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19.632 |
15.082 |
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Net Current Assets |
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7.642 |
0.249 |
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MISCELLANEOUS EXPENSES |
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0.015 |
0.020 |
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TOTAL |
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8.042 |
0.330 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Debt Equity Ratio (Total Liability/Networth) |
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12.39 |
46.41 |
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Current Ratio (Current Asset/Current Liability) |
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1.39 |
1.02 |
LOCAL AGENCY
FURTHER INFORMATION
Form
No. 8
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Corporate
identity number of the company |
U52335GJ2005PTC046129 |
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Name of the
company |
GREEN ELECTRICALS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
G-9, Sterling Centre, R C Dutt Road, Alkapuri, Vadodara – 390 007, Gujarat,
India |
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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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Particular of
charge holder |
Union Bank of India Sayaji Gunj Branch, Union Bank Bhavan, Sayaji Gunj, Vadodara – 390 005,
Gujarat, India |
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Nature of
instrument creating charge |
Supplemental
Agreement to SD-06 Hypothecation Agreement (SD-06(S)) |
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Date of
instrument Creating the charge |
29.03.2008 |
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Amount secured by
the charge |
Rs.11.500
millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
·
Rate of
Interest 12.5% p.a. monthly rest ·
Terms of
repayment On Demand ·
Margin 25% ·
Extent and
operation of the charge Hypothecation of entire stocks of the company such as Wires, Lamps,
Lumanaries etc. Lying at G-9, Sterling Centre, R C Dutt Road, Vadodara and
various other godowns and entire Book Debts and receivables of the company. |
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Particulars of
the property charged |
Hypothecation of entire
stocks of the company such as Wires, Lamps, Lumanaries etc. Lying at G-9, Sterling
Centre, R C Dutt Road, Vadodara and various other godowns and entire Book
Debts and receivables of the company. |
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Particulars of
the present modification |
By this execution
charge extended from Rs.4.000 millions to Rs.11.500 millions. |
Web
Details :
Subject initially started as Green Electricals in the year 1979. Under the able & dynamic leadership of Shri Girishbhai Shah the group turnover touched 500 million. In the
year 2005 the company's status changed to Private Limited Company. This shows
the amount of confidence their customers, principles and the financial
institutions have in them. Subject is
now driven by visionary Chief Executive Shri Bhavin Shah , who is now Managing
Director.
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.43.21 |
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UK Pound |
1 |
Rs.85.72 |
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Euro |
1 |
Rs.67.92 |
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 |
YES |
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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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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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