MIRA
INFORM REPORT
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Report Date : |
20.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
LOYAL SCAFFOLDING PRIVATE LIMITED |
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Formerly Known As : |
LOYAL SCUF FOLDING PRIVATE LIMITED |
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Registered Office : |
B 111, Mayaputi Industrial Area, Phase 1, New Delhi 110064 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
06.04.1998 |
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Com. Reg. No.: |
55 093171 |
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CIN No.: [Company
Identification No.] |
U28099DL1998PTC093171 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELL01755F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and Traders of Shuttering Materials. |
RATING &
COMMENTS
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MIRAs 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 8168 |
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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 having
satisfactory track. Trade relations are fair. Business is active. Payments
are reported as usually correct and as per commitments The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Avtar Singh |
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Designation : |
Director |
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Contact No.: |
91-9910398530 |
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Date : |
17.03.2008 |
LOCATIONS
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Registered Office/ Factory : |
B 111, Mayaputi Industrial Area, Phase 1, New Delhi 110064,
India |
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Tel. No.: |
91-11-41833111/ 12/ 13 |
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Mobile No.: |
91-9910398530 |
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Fax No.: |
91-11-28116111 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Avtar Singh |
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Designation : |
Director |
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Address : |
A-99, Vishal Enclave, Raja Garden, New Delhi 110027, India |
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Date of Birth/Age : |
04.02.1967 |
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Date of Appointment : |
06.04.1998 |
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Name : |
Ms. Hardeep Kaur |
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Designation : |
Director |
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Address : |
A-99, Vishal Enclave, Raja Garden, New Delhi 110027, India |
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Date of Birth/Age : |
06.09.1966 |
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Date of Appointment : |
06.04.1998 |
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Name : |
Mr. Damandeep Singh |
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Designation : |
Director |
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Address: |
A-99, Vishal Enclave, Raja Garden, New Delhi 110027, India |
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Date of Birth/Age : |
03.01.1989 |
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Date of Appointment : |
15.02.2007 |
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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Ms. Hardeep Kaur |
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260 |
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Mr. Avtar Singh |
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10240 |
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Total |
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10500 |
(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 : |
Manufacturers and Traders of Shuttering Materials. |
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Products : |
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GENERAL
INFORMATION
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Bankers : |
Rajauri Garden,
New Delhi 110027, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
HVS and Associates Chartered Accountant |
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Address : |
364, Vardhman Plaza II J-Block Commercial Centre, Rajouri Garden,
New Delhi 110027, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Share |
Rs.10/- each |
Rs.1.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10500 |
Equity Share |
Rs.10/- each |
Rs.0.105
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 |
0.105 |
0.105 |
0.105 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1.937 |
1.573 |
1.033 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2.042 |
1.678 |
1.138 |
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LOAN FUNDS |
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1] Secured Loans |
3.922 |
0.546 |
0.715 |
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2] Unsecured Loans |
0.664 |
3.272 |
3.346 |
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TOTAL BORROWING |
4.586 |
3.818 |
4.061 |
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DEFERRED TAX LIABILITIES |
0.299 |
0.334 |
0.367 |
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TOTAL |
6.927 |
5.830 |
5.566 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
8.331 |
5.658 |
5.082 |
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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 |
0.746
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0.623 |
1.056 |
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Sundry Debtors |
12.994
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7.239 |
4.203 |
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Cash & Bank Balances |
0.156
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0.517 |
0.911 |
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Other Current Assets |
0.000
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0.442 |
0.000 |
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Loans & Advances |
0.737
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0.655 |
0.332 |
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Total
Current Assets |
14.633
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9.476 |
6.502 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
16.040
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8.999 |
6.022 |
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Provisions |
0.000
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0.309 |
0.000 |
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Total
Current Liabilities |
16.040
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9.308 |
6.022 |
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Net Current Assets |
(1.407)
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0.168 |
0.480 |
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MISCELLANEOUS EXPENSES |
0.003 |
0.004 |
0.004 |
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TOTAL |
6.927 |
5.830 |
5.566 |
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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 |
58.405 |
27.784 |
23.301 |
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Other Income |
0.000 |
0.000 |
0.000 |
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Total Income |
58.405 |
27.784 |
23.301 |
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Profit/(Loss) Before Tax |
0.799 |
0.815 |
0.517 |
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Provision for Taxation |
0.332 |
0.276 |
0.183 |
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Profit/(Loss) After Tax |
0.467 |
0.539 |
0.334 |
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Total Expenditure |
57.606 |
26.969 |
22.784 |
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 |
(%) |
0.80
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1.94 |
1.43 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.37
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2.93 |
2.22 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.48
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5.38 |
4.46 |
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Return on Investment (ROI) (PBT/Networth) |
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0.39
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0.48 |
0.45 |
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Debt Equity Ratio (Total Liability/Networth) |
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10.10
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7.82 |
8.86 |
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Current Ratio (Current Asset/Current Liability) |
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0.91
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1.02 |
1.08 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8:
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Name of the company |
LOYAL SCAFFOLDING PRIVATE LIMITED |
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Presented By |
Bank of Punjab
Limited, Rajauri Garden,
New Delhi 110027, India |
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1) Date and description of instrument creating the change |
27.08.1999 Agreement of
Hypothecation of Assets to secure Term Loans. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.0.500 Million |
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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 |
Hypothecation of
stocks of raw materials, stock-in-process, finished goods, furniture and
fixture and machinery belonging to the company both present and future
including all assets and movable property of any kind belonging to them which
now of hereafter from time to time during the continuance of this agreement
shall be brought in, stored or to be in or about their premises or godowns at
various places or any other godowns or be in course of transit from one
godown to another or wherever else the same may be. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The interests on
term loan shall be charged at the rate of 18.36 % p.a. with quarterly rests
or at such other rate (s) as may be specified by the RBI/Bank from time to
time. Penal rate of interests at the rate of 2.25% p.a. over and above the
agreed rate of interests shall be charged in case of default. Repayable in
monthly installments of Rs.0.100 Million plus interests. |
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5) Name and Address and description of the person entitled to the charge. |
Bank of Punjab
Limited Rajauri Garden,
New Delhi - 110027, India |
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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 |
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 Intl 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 companys 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.40.45 |
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UK Pound |
1 |
Rs.81.20 |
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Euro |
1 |
Rs.63.48 |
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 SCs 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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