MIRA INFORM REPORT

 

 

 

Report Date :

14.06.2008

 

IDENTIFICATION DETAILS

 

Name :

MONO-TECH ENGINEERS PRIVATE LIMITED

 

 

Registered Office :

70/1 Pocket D-12, Rohini, Sector – 7, New Delhi – 110092

 

 

Country :

India

 

 

Financials (as on) :

31.03.2006

 

 

Date of Incorporation :

16.04.1991

 

 

Com. Reg. No.:

55-43971

 

 

CIN No.:

[Company Identification No.]

U74899DL1991PTC043971

 

 

IEC No.:

0504047105

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

MRTM01612C

 

 

PAN No.:

[Permanent Account No.]

AABCM2955L

 

 

TIN No. :

09690500913

 

 

SSI No. :

205610467PMTSSI08

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer and Trader of Electro Mechanical Equipments.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 7600

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

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.

 

The management parted general information but declined to part with financials.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Neeraj Gupta

Designation :

Director

Contact No.:

91-9350040636

Date :

10.06.2008

 

 

LOCATIONS

 

Registered Office :

70/1 Pocket D-12, Rohini, Sector – 7, New Delhi – 110092, India

Tel. No.:

91-11-22052866

E-Mail :

monotech@yahoo.com

 

 

Factory  :

NH – 24, National Highway 24 KM from Indira Gandhi International Airport

 

 

Factory 2 :

S-16, South Side, GT Road, Industrial Area, Ghaiabad-201001, Uttar Pradesh, Haryana, India

Tel. No.:

91-120-22052866 / 22613294

Fax No.:

91-120-22023661

E-Mail :

info@monotechengineers.com , monetech_engineers@yahoo.co.in

 

 

DIRECTORS

 

Name :

Mr. Saadat Ullah Khan

Designation :

Director

Date of Birth/Age :

63 Years

Qualification :

B. Tech

Experience :

41 Years

Date of Appointment :

16.12.2005

Mobile No.:

91-9891483853

 

 

Name :

Mr. Neeraj Gupta

Designation :

Director

Date of Birth/Age :

42 Years

Qualification :

B. Tech

Experience :

21 Years

Mobile No.:

91-9350040636

 

 

Name :

Mrs. Smita Gupta

Designation :

Director

 

 

Name :

Mr. Karim Unisha Khan

Designation :

Director

 

 

KEY EXECUTIVES

 

Name :

Mr. B. K. Tiwari

Designation :

Marketing Manager

Mobile No. :

91-9313429290

 

 

Name :

Mr. Lijot Jacob

Designation :

H R Manager

Mobile No.:

91-9811277829

 

 

Name :

Mr. Shalabh Mathur

Designation :

Engineering Manager

Mobile No.:

91-9953786099

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2005

 

Names of Shareholders

 

 

No. of Shares

Saadat Ullah Khan

 

1960

Kariman Nisa Khan

 

4645

Neeraj Mohan Gupta

 

1970

Smita Gupta

 

4635

Total

 

13210

 

Equity Share Breakup (Percentage of Total Equity)

As on 30.09.2006

 

Category

 

 

Percentage

Directors or relatives of Directors

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer and Trader of Electro Mechanical Equipments.

 

 

Products :
  • Fabrication of Steel Structures
  • Critical and non-critical castings
  • EOT/HOT Cranes
  • Bending Machines
  • Shearing Machines
  • Gullotine Shearing Machines
  • Forging Plant Equipments
  • Paper Mill Machineries
  • Sugar Mill Machineries

 
  •  

Exports :

 

Countries :
  • Pakistan
  • Germany
  • Bangladesh

 

 

Terms :

 

Selling :

Cash

 

 

Purchasing :

Cash

 

 

 

GENERAL INFORMATION

 

Customers :
  • M/S Bharat Electronics Limited, Ghaziabad
  • M/S Bharat Heavy Electrical Limited, Haridwar, Uttar Pradsh
  • M/S I.T.I, Naini Allahabad, Uttar Pradesh for import substituted Marr Chambers
  • M/S Indian Railways Rail Coach Factory, Kapurthala, Punjab
  • M/S Chittranjan Locomotive Works, Chittaranjan, West Bengol
  • M/S Maruti Udyog Limited, Gurgaon
  • M/S NTPC, Varuous units in India
  • M/S Ordaace Factory, Murad Nagar
  • M/S Rajasthan State Road, Transport Corporation, Jaipur
  • M/S Steel Authority of India Limited
  • M/S Structural Engg. Research Center, Ghaziabad
  • M/S ITI Limited, Rae Bareilly, For telecom shelters and towers
  • M/S RSRTC, Jaipur
  • M/S Indian Railways (RCF, CLW)

Clients from Private Sector

  • M/S Lloyd Insulation India Limited, New Delhi
  • M/S Reliance Enginrgies Limited, Noida
  • M/S Albert David Limited, Ghaziabad
  • M/S Artson Enginergies Limited, Mumbai
  • M/S Bhushan Steel and Alloys Limited, Chandigarh and Sahibabad
  • M/S ISGES India Limited, Noida
  • M/S K L Steel, Ghaziabad
  • M/S Oswal Chemicals and Fertilizers Limited, New Delhi
  • M/S Shri Ram Piston and Rings Limited, Ghaziabad
  • M/S Somani Iron and Steel Limited, Kanpur
  • M/S WPIL Limited, Ghaziabad
  • M/S NS Turbo Private Limited, Ghaziabad

 

 

No. of Employees :

52

 

 

Bankers :
  • Dena Bank, Gaziabad, Uttar Pradesh, India
  • Punjab National Bank, Vmlg Branch, Chaziabad, Uttar Pradesh, India

 

 

 

Banking Relations :

Satisfactory

 

 

Auditors :

 

Name :

M. P Bhatnagar

Chartered Accountant

Address :

1, Navyug Market, Ghaziabad-201001, Uttar Pradesh, India

 

 

Associates/Subsidiaries :

N. S. Terbo Private Limited , S-17, South Side, G.T. Road, Industrial Area, Ghaziabad, Uttar Pradesh

 

 

CAPITAL STRUCTURE

 

As  on 30.09.2007

 

Authorised Capital :

No. of Shares

Type

Value

Amount

15000

Equity Shares

Rs. 100/- each

Rs. 1.500 Millions

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

13210

Equity Shares

Rs. 100/- each

Rs. 1.321 Millions

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

Particulars

 

 

31.03.2008

31.03.2007

Sales Turnover

 

20.000

25.000

 

Expected Sales (2008-09) : Rs.40.000 Millions

-ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

 

31.03.2006

31.03.2005

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

 

1.321

1.321

2] Share Application Money

 

0.000

0.000

3] Reserves & Surplus

 

0.212

0.207

4] (Accumulated Losses)

 

0.000

0.000

NETWORTH

 

1.533

1.528

LOAN FUNDS

 

 

 

1] Secured Loans

 

0.000

0.961

2] Unsecured Loans

 

0.147

0.233

TOTAL BORROWING

 

0.147

1.194

DEFERRED TAX LIABILITIES

 

0.000

0.000

 

 

 

 

TOTAL

 

1.680

2.722

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

0.578

1.363

Capital work-in-progress

 

0.000

0.000

 

 

 

 

INVESTMENT

 

0.000

0.000

DEFERREX TAX ASSETS

 

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
 

0.290

0.040

 

Sundry Debtors
 

0.182

0.932

 

Cash & Bank Balances
 

0.026

0.280

 

Other Current Assets
 

0.741

0.187

 

Loans & Advances
 

0.000

0.000

Total Current Assets
 

1.239

1.439

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Current Liabilities
 

0.137

0.080

 

Provisions
 

0.000

0.000

Total Current Liabilities
 

0.137

0.080

Net Current Assets
 

1.102

1.359

 

 

 

 

MISCELLANEOUS EXPENSES

 

0.000

0.000

 

 

 

 

TOTAL

 

1.680

2.722

 

PROFIT & LOSS ACCOUNT

 

PARTICULARS

 

 

31.03.2006

31.03.2005

Sales Turnover

 

0.060

8.927

Other Income

 

0.499

0.605

Total Income

 

0.559

9.532

 

 

 

 

Profit/(Loss) Before Tax

 

0.009

0.143

Provision for Taxation

 

0.004

0.026

Profit/(Loss) After Tax

 

0.005

0.117

 

 

 

 

Expenditures :

 

 

 

 

Financial Charges

 

0.028

0.215

 

Depreciation & Amortization

 

0.015

0.143

 

Other Expenditure

 

0.507

9.031

Total Expenditure

 

0.550

9.389

 

KEY RATIOS

 

PARTICULARS

 

 

 

31.03.2006

31.03.2005

PAT / Total Income

(%)
 

0.89

1.23

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
 

15.000

1.60

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
 

0.49

5.10

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
 

0.01

0.09

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
 

0.19

0.83

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

9.041

17.99

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

Trade References :

 

Bankers Charges Report as per Registry

 

 

Name of the company

MONO-TECH ENGINEERS PRIVATE LIMITED

Presented By

Mahip Narain Sharma

1) Date and description of instrument creating the change

Agreement of Hypothecation of goods dated 19.05.2003 made between Mono-Tech Engineers Private Limited and Dena Bank, Ghaziabad for cash credit limit of Rs. 0.400 Millions on 16.06.2003

2) Amount secured by the charge/amount owing on the securities of charge

Amount secured Rs. 0.400 Millions

3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given

Stock of Steel, Iron, Fabricated goods like machines, massive parts etc.

4) Gist of the terms and conditions and extent and operation of the charge.

Hypothecation of assets described in col. 3 above and such other assets of the nature mentioned in Col.3 above as are or may be at any time in the possession or power of the borrower to secure cash credit (Hypothecation) limit Rs. 0.400 Millions

5) Name and Address and description of the person entitled to the charge.

Dena Bank, Ambedkar Road, Ghaziabad

6) Date  and brief description of instrument modifying the charge

Memorandum of modification of Hypothecation agreement from company dated 15.07.2003 made between Mono-Tech Engineers Private Limited and Dena Bank

7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification.

Hypothecation of affects i.e. stock of Steel, Iron Fabricated goods, like machines, massive parts would continue to secure cash and Hypothecation limit Rs. 0.700 Millions instead of Rs. 0.400 Millions

 

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

Indian Rupees

US Dollar

1

Rs.42.87

UK Pound

1

Rs.83.41

Euro

1

Rs.66.11

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

5

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

4

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

5

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

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

 

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, we have no basis upon which to recommend credit dealings

No Rating

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions