MIRA
INFORM REPORT
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Report Date : |
31.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
COMPETENT CONVEYOR SYSTEMS PRIVATE LIMITED |
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Registered Office : |
Q-36, Navin Shahdara, Delhi – 110032 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
09.12.1993 |
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Com. Reg. No.: |
55-56379 |
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CIN No.: [Company
Identification No.] |
U74899DL1993PTC056379 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELC08724C |
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PAN No.: [Permanent
Account No.] |
AAACC0345D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Handling Conveyor Systems |
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 6000 |
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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 company meeting its normal
commitments timeously. Trade relations are fair. Business is active. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Ravindra |
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Designation : |
Accounts Manager |
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Contact No.: |
91-9810034423 |
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Date : |
25.07.2008 |
LOCATIONS
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Registered Office/ Factory : |
Q-36, Navin Shahdara, Delhi – 110032, India |
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E-Mail : |
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Website : |
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Corporate Office : |
C-117, Sector 65, Noida, Gautam Budh Nagar, Noida – 201301, Uttar
Pradesh, India |
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Tel. No.: |
91-120-3949156 |
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Fax No.: |
91-120-2444769/ 24232744 |
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Mobile No: |
91-9810034423 |
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E-Mail : |
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Area : |
550 sq. ft. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Shripal Yadav |
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Designation : |
Director |
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Address : |
Q-36, Navin Shahdara, Delhi – 110032, India |
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Date of Birth/Age : |
25.04.1961 |
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Date of Appointment : |
09.12.1993 |
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Name : |
Mr. Sanjeev Yadav |
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Designation : |
Director |
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Address : |
Q-36, Navin Shahdara, Delhi – 110032, India |
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Date of Birth/Age : |
01.06.1974 |
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Date of Appointment : |
30.12.2000 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
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Names of Shareholders |
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No. of Shares |
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Mr. Shripal Yadav |
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1046 |
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Mrs. Anita Yadav |
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465 |
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Total |
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1511 |
(As on 31.03.2007)
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Handling Conveyor Systems |
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Products : |
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Terms : |
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Selling : |
Cash and Credit (30-60 days) |
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Purchasing : |
Credit (30 days) |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
12 |
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Bankers : |
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Facilities : |
Total Limit Rs.1.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Subha Khanna Chartered Accountant |
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Address : |
New Delhi |
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Name : |
DJS and Company Chartered Accountant |
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Address 1: |
Plot No.20, 1St Floor, East Avenue Market, East Punjabi
Bagh, New Delhi – 110026, India |
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Address 2: |
L-2, Kanchan House, Karampura Comm. Complex, New Delhi – 110015, India
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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5000 |
Equity Shares |
Rs.100/- each |
Rs.0.500 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1510 |
Equity Shares |
Rs.100/-
each |
Rs.0.151
Million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.151 |
0.151 |
0.151 |
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2] Share Application Money |
0.770 |
0.600 |
0.000 |
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3] Reserves & Surplus |
0.258 |
0.179 |
0.142 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.179 |
0.930 |
0.293 |
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LOAN FUNDS |
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1] Secured Loans |
0.204 |
0.390 |
0.275 |
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2] Unsecured Loans |
0.190 |
0.100 |
0.869 |
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TOTAL BORROWING |
0.394 |
0.490 |
1.144 |
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DEFERRED TAX LIABILITIES |
0.011 |
0.020 |
0.000 |
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TOTAL |
1.584 |
1.440 |
1.437 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.650 |
2.591 |
2.279 |
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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 |
2.150
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0.815 |
0.590 |
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Sundry Debtors |
2.519
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2.915 |
1.522 |
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Cash & Bank Balances |
0.704
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0.119 |
0.283 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
0.052
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0.075 |
0.100 |
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Total
Current Assets |
5.425
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3.924 |
2.495 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
6.491
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5.075 |
3.337 |
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Provisions |
0.000
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0.000 |
0.000 |
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Total
Current Liabilities |
6.491
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5.075 |
3.337 |
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Net Current Assets |
(1.066)
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(1.151) |
(0.842) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1.584 |
1.440 |
1.437 |
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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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13.105 |
9.483 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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13.105 |
9.483 |
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Profit/(Loss) Before Tax |
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0.134 |
0.067 |
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Provision for Taxation |
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0.055 |
0.030 |
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Profit/(Loss) After Tax |
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0.079 |
0.037 |
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Total Expenditure |
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12.971 |
9.416 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
0.60
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0.39 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
1.02
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0.71 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.66
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1.03 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.11
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0.07 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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5.84
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5.98 |
15.29 |
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Current Ratio (Current Asset/Current Liability) |
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0.84
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0.77 |
0.75 |
LOCAL AGENCY
FURTHER INFORMATION
TRUSTSEAL ACCEPTANCE CHART:
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Parameters |
Details |
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Existence
Verification |
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Name |
Competent Conveyor Systems (P) Limited |
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Address |
C-117, Sector – 65, District Gautam Budh Nagar, Noida – 201301, Uttar
Pradesh, India |
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Phone/ Mobile Numbers |
91-120-12404012 |
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Statutory
Approvals |
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Legal Status of Firm |
Private Limited Company Registered under Indian Companies Act 1956 |
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Income Tax Registration |
AAACC0345D |
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Central Sales Tax Registration |
ND-5110594 |
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State Sales Tax Registration |
ND-0116876 |
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Name of Bank |
India Bank |
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Account Since |
2007 |
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Credibility
Factors |
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Years of Establishment |
1993 |
Website Details
Profile:
Established in 1993, they at subject are one of the
manufacturers and suppliers of superior quality conveyor systems. With increase
in their business, they have also established a new manufacturing unit in
Noida, Uttar Pradesh, India. This unit is fully equipped with latest
machineries for manufacturing material handling systems, such as overhead
conveyors, salt, belt, roller and multi – purpose conveyors.
They have also built a long-lasting relation with their clients by providing
them superior quality products with after sales service. Their timely delivery
and customized packaging solutions have gained them trust and satisfaction of
their customers. With an objective and goal to spread their wings more in
domestic and international market, they also provide value-added products to
their valuable clients.
Infrastructural
Set-up
They have a sophisticated and modernized infrastructural
setup equipped with all latest techniques and machinery. They have consistently
adopted innovative procedures of manufacturing their gamut of products. Their
manufacturing unit is also engaged in proactive development efforts to keep in
touch with changing environment and technologies of international market. The
strength and quality of their organization depends on their state-of-art
machinery, quality managers and customer relationship managers.
Quality Assurance
The Subject is working with a motto to 'provide a product of superior quality with long life at competitive price'. The production process is carried out under the supervision of experienced professionals and engineers. All conveyors are subjected to stringent quality checks at every stage of production Norms. That means they check the quality of their products right from selection of raw materials to final development of conveyor machinery, quality is monitored in each and every stage.
Timely Delivery
Their exclusive
range of products has earned them the trust and confidence of quality conscious
international market. They have been exporting their conveyors to many
established international markets. Their company is recognized worldwide due to
their quality consciousness and timely delivery of consignments. Moreover, they
have a widespread network of satisfied clients.
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 |
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US Dollar |
1 |
Rs.42.47 |
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UK Pound |
1 |
Rs.84.00 |
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Euro |
1 |
Rs.66.14 |
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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