MIRA
INFORM REPORT
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Report Date : |
07.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
DELVAC PUMPS PRIVATE LIMITED |
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Registered Office : |
AC17A, SIDCO Industrial Estate , Thirumudivakkam, Chennai – 600044,
Tamilnadu |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
20.06.1995 |
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Com. Reg. No.: |
18-31914 |
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CIN No.: [Company
Identification No.] |
U93090TN1995PTC031914 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHED02062E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers of Vacuum Pumps, Vacuum Systems and Lyophilizer or
Freeze Dryers. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Maximum Credit Limit : |
USD 1350 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject seems to be a relatively small company. Company has not filed
any financials with the Government Registry so far. Directors are reported as
experienced and respectable businessmen. Trade relations are reported as
fair. Payments are reported as slow but correct. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
LOCATIONS
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Registered Office / Factory : |
AC17A, SIDCO Industrial Estate , Thirumudivakkam, Chennai – 600044,
Tamilnadu, India |
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Tel. No.: |
91-44-24783265/ 24783266/ 22343608/ 22323852 |
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Fax No.: |
91-44-24783265 |
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E-Mail : |
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Website : |
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Area : |
3300 sq. ft. [Owned] |
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Business Office
: |
Old No.2, New No.11, Cart Track Road, Ekkattuhangal, Chennai, India |
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Tel. No.: |
91-44-22324581/ 22323852 |
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Fax No.: |
91-44-22324581 |
DIRECTORS
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Name : |
Mr. M. Venkataraman |
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Designation : |
Director |
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Address : |
21/3, Gangai Nagar, First Main Road, Velachery, Chennai – 600042,
India |
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Date of Birth/Age : |
47 Years |
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Qualification : |
Post Graduate from Anna University |
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Name : |
Mr. T. J. Balaraman |
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Designation : |
Director |
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Address |
80 Ponnappa Mudali Street, Purasawakkam, Chennai – 600084, India |
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Date of Birth/Age : |
49 Years |
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Qualification : |
Graduate in Mechanical
Engineering |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.03.2007)
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Names of Shareholders |
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No of Shares |
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Mr. M. Venkataraman |
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2350 |
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Mr. T. J. Balaraman |
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2300 |
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Mrs. B. Hemamalini |
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1200 |
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Mrs. P S Savitri |
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1650 |
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Mr. A Selvaraj |
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60 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Vacuum Pumps, Vacuum Systems and Lyophilizer or
Freeze Dryers. |
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Products : |
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Exports : |
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Countries : |
France [CRIO NEX] |
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Imports : |
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Products : |
Vacuum Pumps |
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Countries : |
UK [Edwardh] |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash, Credit and T/T |
GENERAL
INFORMATION
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Customers : |
· R & D
Organizations Pharmaceuticals and Bio – Technology and Educational
Institution · Dept. of Resources
Management and Consumer Science · East India
Pharmaceuticals Limited · Gee Yes Vac
Equipments · Mangalan
Lubricants · National
Institution of Epidemiology · NRC-Pune · Tulip Verna · Vidyuth Control
Systems (Private) Limited |
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No. of Employees : |
15 |
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Bankers : |
· Syndicate Bank Koddambakam Branch, Chennai |
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Facilities : |
Secured OD : Rs. 2.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Ramalingam and Company Chartered Accountants |
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Address : |
63 East Vanniar Street, West K K Nagar, Chennai - 600078, Tamilnadu,
India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.100/- each |
Rs.1.000 Million |
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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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1.000 |
1.000 |
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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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0.000 |
0.000 |
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4] (Accumulated Losses) |
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(0.730) |
(0.130) |
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NETWORTH |
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0.270 |
0.870 |
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LOAN FUNDS |
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1] Secured Loans |
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1.457 |
1.204 |
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2] Unsecured Loans |
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0.860 |
0.895 |
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TOTAL BORROWING |
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2.317 |
2.099 |
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DEFERRED TAX LIABILITIES |
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0.030 |
0.037 |
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TOTAL |
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2.617 |
3.006 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.750 |
2.750 |
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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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0.518 |
0.576 |
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Sundry Debtors |
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2.077 |
0.971 |
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Cash & Bank Balances |
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0.005 |
0.007 |
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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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0.613 |
0.506 |
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Total
Current Assets |
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3.213 |
2.060 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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3.306 |
1.788 |
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Provisions |
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0.040 |
0.016 |
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Total
Current Liabilities |
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3.346 |
1.804 |
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Net Current Assets |
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(0.133) |
0.256 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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2.617 |
3.006 |
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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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5.032 |
4.642 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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5.032 |
4.642 |
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Profit/(Loss) Before Tax |
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(0.600) |
(0.296) |
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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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(0.600) |
(0.296) |
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Total Expenditure |
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5.632 |
4.938 |
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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(11.92) |
(6.38) |
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Net Profit Margin (PBT/Sales) |
(%) |
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(11.92) |
(6.38) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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(10.06) |
(6.15) |
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Return on Investment (ROI) (PBT/Networth) |
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(2.22) |
(0.34) |
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Debt Equity Ratio (Total Liability/Networth) |
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20.97 |
4.49 |
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Current Ratio (Current Asset/Current Liability) |
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0.96 |
1.14 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference
- Bombay Vetinenary College
- Orchid Pharmaceuticals and Chemicals
As Per Website
DELVAC - The name that is inevitable, whenever
quality High Vacuum Pumps and systems are thought of. Established in 1995 by a
team of professional Engineers with profound expertise in the field of
mechanical design, manufacture and servicing.
When used independently or in combination with Diffusion pump, Oil
ejector pumps or booster pumps DELVAC
pumps can be used in applications such as:
- Freeze Drying
- Vacuum
Metallurgy
- Vacuum
Impregnation
- Vacuum
Sublimation
- Packaging
- Bottle
Filling
- Filament Bulb
- Refrigeration
- Distillation
- Dehydration
- Filtration
- Thin Film
Coating
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority
for any financial crime or under any formal investigation by a competent
government authority for any violation of anti-corruption laws or international
anti-money laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.79 |
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UK Pound |
1 |
Rs.83.77 |
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Euro |
1 |
Rs.66.71 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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 |
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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32 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
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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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