MIRA
INFORM REPORT
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Report Date : |
17.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
LARAON ENGINEERS AND CONSULTANTS PRIVATE LIMITED |
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Registered Office : |
525 Ansal Chambers – II 6, Bhikaji Cama Place, New Delhi – 110 066 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
24.05.1985 |
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Com. Reg. No.: |
55-21017 |
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CIN No.: [Company
Identification No.] |
U74899DL1985PTC021017 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELL02344G |
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PAN No.: [Permanent
Account No.] |
AAACL0408N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Provider of Consultancy Services |
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 130000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established and reputed company in its field.
Trade relations are fair. Payments are usually correct and as per
commitments. Nothing adverse reported The company can be considered good for normal business dealings at
usual trade terms and conditions. |
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LOCATIONS
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Registered Office / Corporate Office : |
525 Ansal Chambers – II 6, Bhikaji Cama Place, New Delhi – 110 066,
India |
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Tel. No.: |
91-11-26184500 / 26103800 /
26176100 / 26192700 |
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Fax No.: |
91-11-26192900 |
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E-Mail : |
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Website : |
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Works 1: |
683,
Udyog Vihar Phase V, Gurgaon – 122016, Haryana, India |
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Tel. No.: |
91-124-2345300
/ 2346300 / 2348300 / 2348400 |
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Fax No.: |
91-124-2347000 |
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E-Mail : |
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Works 2: |
137,
Sector – 5, IMT Manesar, Haryana, India |
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Tel. No.: |
91-124-2345300
/ 2346300 |
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Fax No.: |
91-124-2347000 |
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E-Mail : |
DIRECTORS
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Name : |
Mrs. Anjali Dhingra |
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Designation : |
Director |
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Address : |
C -2/251, Janakpuri , New Delhi – 110 052, India |
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Date of Birth/Age : |
22.07.1957 |
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Date of Appointment : |
02.11.1987 |
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E-Mail: |
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Name : |
Mr. Ritesh Dhingra |
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Designation : |
Director |
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Address : |
C -2/251, Janakpuri , New Delhi – 110 052, India |
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Date of Birth/Age : |
26.07.1982 |
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Date of Appointment : |
01.10.2004 |
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E-Mail: |
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Name : |
Mr. Ruchit Dhingra |
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Designation : |
Director |
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Address : |
C -2/251, Janakpuri , New Delhi – 110 052, India |
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Date of Birth/Age : |
11.10.1980 |
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Date of Appointment : |
10.10.2004 |
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E-Mail: |
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Name : |
Mrs. Ranjan Dhingra |
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Designation : |
Managing Director |
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Address : |
C -2/251, Janakpuri , New Delhi – 110 052, India |
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Date of Birth/Age : |
26.08.1951 |
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Date of Appointment : |
24.05.1985 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders [As on 31.03.2007] |
No. of Shares |
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Mrs. Ranjan Dhingra |
5350 |
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Mrs. Anjali Dhingra |
5151 |
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Total
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10501 |
Equity Share Breakup (Percentage of Total Equity) :- [As on 31.03.2007]
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Category |
Percentage |
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Directors or relative of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Provider of Engineering
Consultancy Services |
GENERAL
INFORMATION
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No. of Employees : |
Around 100 |
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Bankers : |
Not Available |
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Banking
Relations : |
---- |
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Financial Institutions : |
Haryana State
Industrial Development Corporation Limited Address: S C O
No. 40-41, Sector – 17 – Chandigarh, Panchkula, Haryana – 110 066, India |
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Auditors : |
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Name : |
Shanti Prashad and Company Chartered Accountants |
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Address : |
M -96, Connaugt Place, New Delhi – 110 001, India |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
(As on 31.03.2007)
:-
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs. 100/- each |
Rs. 10.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10501 |
Equity Shares |
Rs. 100/- each |
Rs. 1.050 millions |
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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1.050 |
1.050 |
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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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23.050 |
16.567 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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24.100 |
17.617 |
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LOAN FUNDS |
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1] Secured Loans |
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20.775 |
11.425 |
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2] Unsecured Loans |
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4.287 |
3.570 |
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TOTAL BORROWING |
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25.062 |
14.995 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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49.162 |
32.612 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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29.892 |
21.647 |
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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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0.186 |
0.186 |
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DEFERREX TAX ASSETS |
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0.131 |
0.013 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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5.891 |
6.849 |
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Sundry Debtors |
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21.590 |
4.783 |
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Cash & Bank Balances |
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24.037 |
15.931 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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10.185 |
3.990 |
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Total
Current Assets |
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61.703 |
31.553 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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36.546 |
18.563 |
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Provisions |
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6.204 |
2.224 |
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Total
Current Liabilities |
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42.750 |
20.787 |
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Net Current Assets |
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18.953 |
10.766 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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49.162 |
32.612 |
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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 |
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93.659 |
44.671 |
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Other Income |
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1.361 |
1.046 |
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Total Income |
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95.020 |
45.717 |
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Profit/(Loss) Before Tax |
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10.345 |
5.345 |
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Provision for Taxation |
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3.862 |
2.210 |
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Profit/(Loss) After Tax |
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6.483 |
3.135 |
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Expenditures : |
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Increase/(Decrease) in Finished Goods |
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0.958 |
(4.163) |
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Financial Charges |
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3.195 |
0.582 |
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Depreciation |
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1.027 |
0.959 |
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Other Expenditure |
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79.495 |
42.994 |
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Total Expenditure |
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84.675 |
40.372 |
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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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PAT / Total Income |
(%) |
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6.82 |
6.86 |
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Net Profit Margin (PBT/Sales) |
(%) |
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11.04 |
11.96 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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11.3 |
10.04 |
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Return on Investment (ROI) (PBT/Networth) |
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0.43 |
0.30 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.81 |
2.03 |
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Current Ratio (Current Asset/Current Liability) |
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1.44 |
1.52 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8:-
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Corporate
identity number of the company |
U74899DL1985PTC021017 |
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Name of the
company |
LARAON ENGINEERS AND
CONSULTANTS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
525 Ansal Chambers – II 6, Bhikaji Cama Place, New Delhi – 110 066,
India |
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This form is for |
Creation of
charge |
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Type of charge |
Hypothecation |
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Particular of
charge holder |
CIN:
U25209HR1967PTC002697 Haryana State
Industrial Development Corporation Limited Address: S C O
No. 40-41, Sector – 17 – Chandigarh, Panchkula, Haryana – 110 066, India E-mail: appl.helpdesk@mca.gov.in |
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Nature of
instrument creating charge |
Agreement of
hypothecation of plant and machinery |
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Date of
instrument Creating the charge |
06.09.2006 |
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Amount secured by
the charge |
Rs. 15.000
millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
FLR 10.50 % p.a |
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Date of the
instrument creating or evidencing the charge |
06.09.2006 |
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Description of the
instrument creating or evidencing the charge |
Hypothecation of
Plant and Machinery |
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Description of
the property charged indicating whether it is a charged on |
Plant and
Machinery |
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Particulars of
the property charged |
Plant and Machinery
at Plot No. 137, Sec – 5, IMT Manesar, Gurgaon |
WEBSITE DETAILS:-
History
Subject is a leading systems integrator with a
number of international associations spanning across Asia Pacific, Europe and
the Middle East.
For over 15 years, they have been delivering cost-effective total
integrated industrial automation as well as communication solutions to the
satisfaction of their clients. Their strength in turnkey project management
attracts an ever-increasing portfolio of blue-chip clients in the energy,
chemical/petrochemical, utilities, fertilizers and heavy industry (aluminum and
steel plants).
Laraon Group started its activities in October
1988, with a definite aim of serving the technology oriented areas of the corporate
in India. The group under the able guidance of experts in the field of
engineering and technology lived upto the expected aims.
Laraon Group is now revered as the organization
involved in providing the technological solutions and services to the Oil, Gas
and Energy sectors of India, through the world renowned associates, who are the
pioneers of the technologies in their field of excellence.
They have been serving the Indian industries in more than one ways for
the past 15 years. Their principals are registered with most leading Government
and private consultants contract end users. They has participated in several
major projects right from selecting the appropriate equipment for an
application and then helping customers purchase the same from their principals
till the successful installation, commissioning and startup o the system.
Subject and its overseas principals are committed to addressing the
needs of their customers through a network. Over the past 15 years, subject has
graduated from "a product provider
to a solution provider" capable of not only supplying in foreign
currency but in local currency to support engineering, system integrating,
commissioning, training and servicing the products and systems supplied by
their principals.
They are a reputed and result oriented Engineering Systems Consultancy
house operating from their corporate office in New Delhi
They are fortunate to represent internationally reputed manufacturers in
India for marketing their products to valued clients in the fields of
· Petrochemical Plants
· Chemical Plants
· Refineries
· Offshore Platforms
· LPG Plants
· Pipeline Projects
· Fertilizer Plants
· Aluminum Plants
· Cement Industries
· Thermal, Nuclear, Gas Based Power Stations
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.17 |
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UK Pound |
1 |
Rs.86.26 |
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Euro |
1 |
Rs.68.78 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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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54 |
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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