MIRA
INFORM REPORT
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Report Date : |
02.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
FUJI TECHNICAL SERVICES PRIVATE LIMITED |
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Registered Office : |
403 Sai Sangam Sector-15 CBD, Belapur, Navi Mumbai – 400 614,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
24.05.1989 |
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Com. Reg. No.: |
11-51856 |
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CIN No.: [Company
Identification No.] |
U74140MH1989PTC051856 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMF03464G |
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PAN No.: [Permanent
Account No.] |
AAACF1784F |
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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 150000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established company having satisfactory track.
Directors are reported as experienced, respectable and having satisfactory
means of their own. Their trade relations are fair. Payments are usually
correct and as per commitments. The company can be considered good for normal business dealings at
usual trade terms, and conditions. |
LOCATIONS
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Registered Office / Corporate Office
: |
403 Sai Sangam Sector-15 CBD, Belapur, Navi Mumbai – 400 614,
Maharashtra, India |
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Tel. No.: |
91-22-27577828 /29, 27577638 |
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Fax No.: |
91-22-27576836 |
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E-Mail : |
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Website : |
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Regional Office |
35/1460 C1,
Penta Estate, Janatha Junction, Palarivattom P.O,Kochi-682 025. Kerala, India. |
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Tel. No.: |
91-484-2339752/2339740 |
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Fax No.: |
91-484-2339739 |
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E-Mail : |
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Liaison Office |
L-68/XI, 9th B
Main, Jeevan Bima Nagar, Bangalore - 560 075, India. |
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Tel. No.: |
91-80-25263373 |
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Mobile No.: |
91-9342583048 |
DIRECTORS
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Name : |
Mr. Bharat Bhushan Sharma |
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Designation : |
Director |
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Address : |
8 Shiv Vaibhev Asalpha, Ghatkopar (West), Mumbai – 400 084,
Maharashtra, India |
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Date of Birth/Age : |
10.03.1968 |
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Date of Appointment : |
04.09.2006 |
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Name : |
Mr. Haridasan Mathilakath |
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Designation : |
Director |
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Address : |
A -6, Sree Parvathy aparts,
Perumbotta Road, Elamakkara, Kochi – 682 026, Kerala, India |
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Date of Birth/Age : |
30.11.1946 |
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Date of Appointment : |
24.05.1989 |
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Name : |
Mr. Haridas Kanakam |
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Designation : |
Director |
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Address : |
A -6, Sree Parvathy aparts,
Perumbotta Road, Elamakkara, Kochi – 682 026, Kerala, India |
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Date of Birth/Age : |
01.01.1992 |
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Date of Appointment : |
01.02.1949 |
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Name : |
Mr. Gopalan Nair |
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Designation : |
Director |
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Address : |
B - 404, Ahuja Towers, Sector-19A, Nerul, Navi Mumbai – 400 706,
Maharashtra, India |
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Date of Birth/Age : |
18.10.1966 |
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Date of Appointment : |
01.11.1993 |
SHAREHOLDING
PATTERN
Equity Shares Breakup (Percentage of Total Equity):
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Sr No. |
Category |
Percentage |
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1 |
Directors or
relative of directors |
78.00 |
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2 |
Other top fifty
(50) shareholders |
22.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Provider
of consultancy services |
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GENERAL
INFORMATION
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No. of Employees : |
12 |
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Bankers : |
Canara bank Chembur Main
Branch, 70-A, Maharshi Dayanand Saraswati Marg, Chembur Main, Mumbai – 400
071, Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Mr. A R Divakar and Company Chartered Accountants |
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Address : |
Shop No. 5, C Wing, Topiwala Building, Goregaon (West), Mumbai – 400
062, Maharashtra, India |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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30000 |
Equity Shares |
Rs. 100/- each |
Rs. 3.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
9970 |
Equity Shares |
Rs. 100/- each |
Rs. 0.997
million |
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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0.997 |
0.997 |
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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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34.131 |
30.015 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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35.127 |
31.012 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.147 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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0.000 |
0.147 |
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DEFERRED TAX LIABILITIES |
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0.416 |
0.312 |
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TOTAL |
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35.543 |
31.471 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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6.333 |
7.026 |
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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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0.314 |
0.539 |
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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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3.546 |
4.678 |
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Sundry Debtors |
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29.808 |
14.399 |
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Cash & Bank Balances |
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5.504 |
7.621 |
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Other Current Assets |
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6.169 |
4.644 |
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Loans & Advances |
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2.406 |
3.229 |
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Total
Current Assets |
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47.433 |
34.571 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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13.024 |
6.760 |
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Provisions |
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5.513 |
3.905 |
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Total
Current Liabilities |
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18.537 |
10.665 |
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Net Current Assets |
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28.896 |
23.906 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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35.543 |
31.471 |
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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
(Estimated) |
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35.000 |
28.000 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.53 |
0.35 |
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Current Ratio (Current Asset/Current Liability) |
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2.56 |
3.24 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:-
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Name of the
company |
FUJI TECHNICAL SERVICES PRIVATE LIMITED |
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Presented
By |
Canara Bank,
Chembur Main Branch, Mumbai |
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1) Date and
description of instrument creating the change |
Cash Credit
Agreement Dated :30th
December 2005 |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 1.500
millions |
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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 |
The borrower
hypothecate and charge by way of first charge in favour of the bank: The whole of the
present and future stocks of raw materials, goods – in – process of
manufacturer goods and articles such as spares and equipment for diesel
engine power plant together with all store and components and spares which
now belong to or may hereafter from time to time during the continuance of
this security, belong to the borrower and which are shall or may be brought into stored or be in or
upon or about the borrower factory , godowns and / premises or wherever else
the same may be situated , stored or lying or being , including any such raw
materials, goods in process of manufacture and components or other similar
movable property in course of transit or delivery to the borrower and All present and
future book debts, outstanding monies, receivables, claims, bills, rights, to
or in movable properties and movable assets and which are now due, owing or
payable or belonging to the borrower or which may at any time hereafter
during the continuance of this security become due, owing, payable or
belonging to the borrower in the course of its business. |
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4) Gist of the
terms and conditions and extent and operation of the charge. |
Interest at 3.50% per annum over and above the on going PLR with
minimum of 14.25% per annum for OCC limit of Rs. 1.500 millions granted by
the banks to the Company. |
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5) Name and
Address and description of the person entitled to the charge. |
Canara bank Chembur Main Branch, 70-A, Maharshi
Dayanand Saraswati Marg, Chembur Main, Mumbai – 400 071 |
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6) Date and brief description of instrument
modifying the charge |
NA |
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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. |
NA |
WEBSITE DETAILS:
Business
Fuji
Diesel Company of Japan started their business in India in the year 1984 for the
purpose of setting up diesel power plants in the core industrial sector like
Cement, Steel, Chemical and Synthetic filament units. The Company was
incorporated as a private limited company on 24th May 1989.
The Company was
formed basically with the objective of rendering technical services to the
Indian users of Japanese make Captive Power plants thereby reducing the
requirement of Japanese engineers being present in India. The Company gradually
absorbed qualified engineers and some of them got trained in Japan on Fuji
Diesel engine maintenance.
Started as an
engineering consultancy services exclusively for Fuji Diesel engines in India,
it has now built up the capability, requisite know-how, experience and
resources for carrying out major repair, reconditioning, revamping of all types
of heavy duty diesel engines in Captive power industry such as:
· Caterpillar
· Deutz
· Hyundai
· Man B and W
· Mirrlees Blackstone
· Mitsubishi
· Pielstick
· Sulzer
· Wartsila
They
have tied up with reputed institutional companies for the supply of Diesel
Engines and its auxiliary spare parts, repair, reconditioning and major engine
components.
The Company also
achieved ISO 9001:2000 compliance in 2002.
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.40.26 |
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UK Pound |
1 |
Rs.79.88 |
|
Euro |
1 |
Rs.61.26 |
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 |
5 |
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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 |
|
49 |
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 |
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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 |
|
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 |
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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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