MIRA
INFORM REPORT
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Report Date : |
12.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
ENCON ENTERPRISES PRIVATE LIMITED |
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Registered Office : |
24, Surya Sen Street, Kolkata – 700 009, West Bengal |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
22.09.1998 |
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Com. Reg. No.: |
21 - 88008 |
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CIN No.: [Company
Identification No.] |
U29199WB1998PTC088008 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALE013318 |
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PAN No.: [Permanent
Account No.] |
AAACE7554J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Bailers Spare Parts. |
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 6000 |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company meeting its small commitments
timeously. Trade relations are fair. The company can be considered good for small to mediocre business
dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. T M Prasad |
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Designation : |
Accountant |
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Date : |
10.06.2008 |
LOCATIONS
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Registered Office : |
24, Surya Sen Street, Kolkata – 700 009, West Bengal, India |
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Tel. No.: |
91-33-22418577/ 22419474 |
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Mobile No.: |
91-9830032629 |
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Fax No.: |
91-33-22419311 |
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E-Mail : |
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Website : |
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Area : |
1500 Sq.ft. |
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Location : |
Owned |
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Factory : |
CIT Industrial Estate, Industrial Belt, Shed No. 62, Howrah |
DIRECTORS
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Name : |
Mr. Subhas Guhathakurta |
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Designation : |
Chairman |
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Address : |
24, Surya Sen Street, Kolkata – 700 009, West Bengal, India |
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Date of Birth/Age : |
02.02.1948 |
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Date of Appointment : |
22.09.1998 |
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Name : |
Mr. Satyajit Guhathakurta |
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Designation : |
Director |
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Address : |
24, Surya Sen Street, Kolkata – 700 009, West Bengal, India |
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Date of Birth/Age : |
30.11.1976 |
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Date of Appointment : |
22.09.1998 |
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Name : |
Mrs. Pratima Guhathakurta |
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Designation : |
Director |
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Address : |
24, Surya Sen Street, Kolkata – 700 009, West Bengal, India |
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Date of Birth/Age : |
10.08.1954 |
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Date of Appointment : |
22.09.1998 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 29.09.2005
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Names of Shareholders |
No. of Shares |
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Mr. Subhas Guhathakurta |
16000 |
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Mr. Satyajit Guhathakurta |
6000 |
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Mrs. Pratima Guhathakurta |
6000 |
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Total |
28000 |
Equity share breakup
(Percentage of Total Equity)
As on 31.03.2007
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Sr. No. |
Category |
Percentage |
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1. |
Directors or relatives of directors. |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Bailers Spare Parts. |
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Products : |
v Pumping and
Heating Units v Steam Coil Air
Pre Heaters v Heat Exchangers v Pressure Vessels v Valves and
Strainers v Control Panels v Hydro-Pneumatic
Loading Cylinders v Sample Cooler v Air Pre Heater |
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Terms : |
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Selling : |
CC, Hypothecation from Punjab National Bank |
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Purchasing : |
CC, Hypothecation from Punjab National Bank |
GENERAL
INFORMATION
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Customers : |
NTPC ( Government) EEPL’s Major
Client List v Dept Of Atomic
Energy (H W P – Manuguru and Anushaktinagar – Mumbai). v Alstom Projects
India Limited. v Mitsui Babcock Energy
( India ) Private Limited. v Ntpc Limited -
Balco, Rihand, Ramagundam, Talcher, v Farakka. v Damodar Valley
Corporation – Mejia Tps & Chandrapura Tps. v Dishergarh Power
Supply Company Limited. v The Wbpdcl –
Bandel, Kolaghat & Santaldih Thermal Power Station. v Sail –
Bhilai, Bokaro, Durgapur , Iisco, Rourkela. v Iocl – Haldia
Refinery. v Cseb Korba (East
and West), Chhattisgarh. v Cesc Limited. v Sgtps : Mppgcl:
Birsinghpur. v The Durgapur
Projects Limited. v The Acc Limited.
(Kymore, Gagal, Chaibasa). v Hindalco Industries
Limited. v Haldia
Petrocehemicals Limited. v Itc Limited –
Tribeni Tissues, Bhadrachalam Paper Boards. v Larsen and
Tubro Limited. v Stewearts and
Lloyds Of India Limited. v Abb Limited v Ntpc-Sail Power
Company (Private) Limited. v Ondeo Nalco
India Limited. v Thermotech. v Mcnally Bharat
Enginnering Company Limited. v Texmaco Limited. v Atps – Mppgcl
Chachai. v Usha Martin
Limited. v Grasim
Industries Limited. v Bokaro Power
Supply Company (Private) Limited. v Nicco Coporation
Limited. v Snf ( India )
Private Limited. v Torrent Power
Aec Limited. v ICI Limited. v Indian Metals
and Ferro Alloys Limited. v Marcus Oil and
Chemicals Private Limited. v Tata Steel
Limited. v Bharat Aluminium
Company Limited. v The Tata Power
Company Limited. v Geb –
Gandhinagar Tps. v Jsw Steel
Limited. v Bharat Heavy
Electricals Limited. v National
Aluminium Company Limited (Angul), Orissa. |
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No. of Employees : |
60 |
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Bankers : |
v Punjab National
Bank College Street Branch, Kolkata – 700009, West Bengal, India v State bank of
India |
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Facilities : |
CC – Rs. 3.000 millions LG – Rs. 2.000 millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
v Mr. S.
Nagchaudhuri Chartered
Accuntants v Biwanath
Chakrabarty and Company Chartered
Accountants Stephen House, 4 B B D Bag (East), Room No. 87, 5th Floor,
South Block, Kolkata – 700001, West Bengal, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250,000 |
Equity shares |
Rs. 10/- each |
Rs. 2.500 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
28,000 |
Equity shares |
Rs. 10/-
each |
Rs. 0.280
million |
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 |
0.280 |
0.280 |
0.280 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.851 |
0.815 |
0.687 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.131 |
1.095 |
0.967 |
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LOAN FUNDS |
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1] Secured Loans |
2.131 |
1.258 |
0.000 |
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2] Unsecured Loans |
0.666 |
0.000 |
0.000 |
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TOTAL BORROWING |
2.797 |
1.258 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.046 |
0.000 |
0.000 |
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TOTAL |
3.974 |
2.353 |
0.967 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.517 |
1.946 |
2.130 |
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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 |
2.073
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1.934 |
2.467 |
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Sundry Debtors |
10.589
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12.302 |
9.191 |
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Cash & Bank Balances |
6.092
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5.281 |
5.006 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
0.531
|
0.289 |
0.032 |
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Total
Current Assets |
19.285
|
19.806 |
16.696 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
17.703
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19.293 |
17.868 |
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Provisions |
0.129
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0.114 |
0.000 |
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Total
Current Liabilities |
17.832
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19.407 |
17.868 |
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Net Current Assets |
1.453
|
0.399 |
(1.172) |
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MISCELLANEOUS EXPENSES |
0.003 |
0.006 |
0.009 |
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TOTAL |
3.974 |
2.353 |
0.967 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
34.417 |
29.961 |
38.277 |
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Other Income |
0.169 |
0.000 |
0.000 |
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Total Income |
34.586 |
29.961 |
38.277 |
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Profit/(Loss) Before Tax |
0.212 |
0.181 |
0.189 |
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Provision for Taxation |
0.177 |
0.053 |
0.069 |
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Profit/(Loss) After Tax |
0.035 |
0.128 |
0.120 |
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Expenditures : |
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Depreciation & Amortization |
0.433 |
0.308 |
0.387 |
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Other Expenditure |
33.941 |
29.472 |
37.701 |
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Total Expenditure |
34.374 |
29.780 |
38.088 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
0.10
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0.43 |
0.31 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.61
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0.60 |
0.49 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.61
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0.60 |
0.49 |
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Return on Investment (ROI) (PBT/Networth) |
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0.19
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0.16 |
0.19 |
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Debt Equity Ratio (Total Liability/Networth) |
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15.77
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17.72 |
18.48 |
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Current Ratio (Current Asset/Current Liability) |
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1.08
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1.02 |
0.93 |
LOCAL AGENCY
FURTHER INFORMATION
Trust Seal
Acceptance Chart
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Parameters |
Details |
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Statutory
Approvals |
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Income Tax Registration |
AAACE7554J |
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Central Sales Tax Registration |
19591030249 |
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State Sales Tax Registration |
19591030152 |
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VAT / TIN Registration |
19591030055 |
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Name of Bank |
Punjab National Bank |
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Current Account Number |
05840002113110 |
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Credibility
Factors |
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India Mart Client Since |
3 Years |
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Trade
Affiliations |
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SSI Registration |
210916618 |
Form 8
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This form is for |
Creation of
charge |
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Corporate identity
number of the company |
U29199WB1998PTC088008 |
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Name of the
company |
ENCON ENTERPRISES PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
24, Surya Sen Street, Kolkata – 700 009, West Bengal, India |
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Type of charge |
Others |
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If others specify |
Raw materials Stock in process Finished Goods |
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Particular of
charge holder |
Name : Punjab
National Bank Address : College
Street City : Kolkata State : West
Bengal ISO country code
: IN Pin code : 700009 e-mail ID : s_dhanania@yahoo.co.in |
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Nature of
description of the instrument creating or modifying the charge |
1. Hypothecation
of goods and book debts to secure cash credit facility. 2. Hypothecation
of machinery as collateral security for demand cash credit. 3. Consent Clause 4. Sanction
Letter. |
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Date of
instrument Creating the charge |
07.06.2007 |
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Amount secured by
the charge |
Rs. 3.000 millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest BPLR (Presently
13%) + 2% Terms of
repayment Renewal Yearly Margin 25% Extent operation
of the charge 100% First Charge |
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Short particulars
of the property charged |
Hypothecation of
stock of raw materials, stock in process and stock of finished goods. Insurance to be
done comprehensively for the full value of total stock. The loan amount has
been enhanced from Rs. 1.500 millions to Rs. 3.000 millions. |
Profile
With a modest inception in 1998, they have grown the activities and established the name in the last few years as a modern designing & manufacturing units in Howrah, neighboring City Kolkata.The Units are strategically located near major national highways enabling easy transportation & delivery.They are registered under NSIC, SSI as well as IBR
They have recently purchased brand new NC Operated Tube Bending Machines
(Which- is shown) to augment the Products of Boiler Pressure Parts exclusively in the factory. they are now very well equipped to make Bends of '1D' radius & above. They are increasing the activities in manufacturing of Pressure Components & Bends in the new set up supported by TIG,MIG,Generator Welding Machines,tools&tackles with different type of materials,i.e.,C.S.,A.S.,&S.S. Tubes.The lifting Capacity of Overhead Crane is 10 Ton.
Innovative technologies and experienced Design Engineers,modern manufacturing processes guarantee EEPL quality.
They are a sterling manufacturer of Economisers, Superheaters, Reheater, Elements, Headers, Pressure Vessels, Air HeaterTube plates, Fin Tubes etc.Besides Oil Burners, Air Registers, PFMill/Coal Mill Components, Heat Transfer equipments/Heat Exchangers, Soot Blowers, Control Panels,Valves,pipe-Fitting being used in Thermal and Nuclear-power Plants, Steel Plants,Cement Plants,Fertilizer Plants, Paper Industries, Oil & Petrochemicals Industries and other process Industries.
They also develop and customize special engineering products as per customer’s requirements and specifications.
Industries
v Ibr Pressure Parts (Economiser Coils,Super Heater Coils,Re-Heater,Headers,Fintubes Etc)
v Coal Pulveriser Units
v Soot Blowers
v Attemperators
v Burners
v Heat Transfer Equipments
v Various Machined Components
v Fabricated Assemblies.
Raw Materials
v
Mild Steel
v
Stainless Steel
v
Carbon Steel
v
Alloy Steel En Group
v
Salma
v
Admiral Brass
v
Copper
v
Aluminium
v
Inconel
v
Gun Metal,Phosphor Bronze
v
Sg Iron
v
Ni – Hard
v
Cast Steel
v
Cast Iron
Trade References
NTPC (Government)
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 :
The 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.
The 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
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 42.89 |
|
UK Pound |
1 |
Rs. 83.80 |
|
Euro |
1 |
Rs. 66.45 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
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--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
33 |
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, they have no basis upon which to
recommend credit dealings |
No Rating |
|