MIRA
INFORM REPORT
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Report Date : |
03.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
FIVE ESS PRECISION COMPONENTS PRIVATE LIMITED |
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Registered Office : |
3-D 40-A B P NIT, Faridabad, Haryana |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
27.12.2002 |
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Com. Reg. No.: |
035014 |
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CIN No.: [Company
Identification No.] |
U34300HR2002PTC035014 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RTKF00235E |
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PAN No.: [Permanent
Account No.] |
AAACF6943L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Sheet Metal, Auto Parts, Dies, Molds and Power
Press Machines. |
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 11648 |
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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. The Company had not filed its latest financials with the Government
departments and the management declined to update with latest financials. |
LOCATIONS
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Registered Office : |
3-D 40-A B P NIT, Faridabad, Haryana, India |
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Tel. No.: |
91-129-2484391, 2484392 |
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Fax No.: |
91-129-2484393, 4056222 |
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E-Mail : |
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Factory : |
Plot No. 18, Village Bajri, Dabur-Pali Road, NIT, Faridabad, Haryana,
India. |
DIRECTORS
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Name : |
Mr. Sanjeeva Kumar |
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Designation : |
Director |
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Address : |
3-D 40-A B P NIT, Faridabad, Haryana, India |
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Date of Birth : |
26.10.1966 |
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Date of Appointment : |
27.12.2002 |
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Name : |
Mr. Rajesh Kumar |
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Designation : |
Director |
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Address : |
3-D 40-A B P NIT, Faridabad, Haryana, India |
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Date of Birth : |
21.08.1964 |
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Date of Appointment : |
27.12.2002 |
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Name : |
Mr. Jatinder Sambi |
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Designation : |
Director |
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Address : |
198/9, Jawahar Colony, Faridabad – 2, Haryana, India |
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Date of Birth : |
08.04.1955 |
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Date of Appointment : |
27.12.2002 |
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Name : |
Mr. Rakesh Kumar |
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Designation : |
Director |
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Address : |
3-D 40-A B P NIT, Faridabad, Haryana, India |
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Date of Birth : |
30.07.1966 |
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Date of Appointment : |
01.10.2003 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2006
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Names of Shareholders |
No. of Shares |
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Mr. Sanjeeva Kumar |
51870 |
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Mr. Rajesh Kumar |
3000 |
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Mr. Jatinder Sambi |
3000 |
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M/s Al Arora and Sons |
100 |
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Mr. Amrit Lal Arora |
100 |
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Mrs. Maya Rani |
100 |
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Mr. Rakesh Kumar |
100 |
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Mr. Ram Sharan Nagpal |
100 |
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Mr. Sudarshan Kumar |
100 |
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Mr. Narendra Goel |
100 |
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Total |
58570 |
Equity Share breakup (Percentage of Total Equity)
As on 31.03.2006
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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 and Exporter of Sheet Metal, Auto Parts, Dies, Molds and
Power Press Machines. |
GENERAL
INFORMATION
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No. of Employees : |
45 |
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Bankers : |
v State Bank of
Bikaner and Jaipur 26, Neelam Bata Road, Faridabad – 121001,
Haryana, India v ICICI Bank v Citi Bank |
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Address : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
S K Khanna and Associates, Chartered Accountants |
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Address : |
640, Sector – 19, Faridabad – 121 001, Haryana, India. |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
|
100,000 |
Equity Shares |
Rs. 10/- Each |
Rs. 1.000 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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58,570 |
Equity Shares |
Rs. 10/- Each |
Rs. 0.585
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.585 |
0.585 |
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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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2.327 |
0.927 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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2.912 |
1.512 |
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LOAN FUNDS |
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1] Secured Loans |
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3.224 |
1.967 |
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2] Unsecured Loans |
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2.117 |
2.201 |
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TOTAL BORROWING |
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5.341 |
4.168 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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8.253 |
5.680 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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5.888 |
3.162 |
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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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3.547 |
1.752 |
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Sundry Debtors |
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30.392 |
23.304 |
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Cash & Bank Balances |
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0.376 |
0.016 |
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Other Current Assets |
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0.797 |
0.250 |
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Loans & Advances |
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1.466 |
0.551 |
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Total
Current Assets |
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36.578 |
25.873 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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33.461 |
23.043 |
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Provisions |
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0.777 |
0.339 |
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Total
Current Liabilities |
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34.238 |
23.382 |
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Net Current Assets |
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2.340 |
2.491 |
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MISCELLANEOUS EXPENSES |
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0.024 |
0.028 |
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TOTAL |
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8.253 |
5.680 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover (Including Other Income) |
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100.690 |
83.726 |
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Total Income |
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100.690 |
83.726 |
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Profit/(Loss) Before Tax |
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2.177 |
0.904 |
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Provision for Taxation |
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0.777 |
0.339 |
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Profit/(Loss) After Tax |
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1.400 |
0.565 |
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Expenditures : |
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Depreciation & Amortization |
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0.883 |
0.825 |
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Other Expenditure |
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97.630 |
81.997 |
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Total Expenditure |
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98.513 |
82.822 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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1.39 |
0.67 |
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Net Profit Margin (PBT/Sales) |
(%) |
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2.16 |
1.08 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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2.16 |
1.08 |
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Return on Investment (ROI) (PBT/Networth) |
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0.75 |
0.59 |
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Debt Equity Ratio (Total Liability/Networth) |
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11.76 |
15.46 |
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Current Ratio (Current Asset/Current Liability) |
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1.07 |
1.11 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
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This form is for |
Modification of charge |
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Whether charge is modified in favour of asset reconstruction company (ARC) of assignee |
No |
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Charge Identification (ID) number of the charge to be modified |
90054866 |
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Corporation identity number (CIN) or foreign company registrations number of the company |
U34300HR2002PTC035014 |
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Name of the company |
FIVE ESS PRECISION COMPONENTS PRIVATE LIMITED |
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Address |
3-D 40-A B P NIT, Faridabad, Haryana, India |
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Type of Charges |
v Immovable
property v Book Debts v Movable property
(not being pledge) v Floating charge |
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Whether consortium finance is involved |
No |
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Whether joint charge involved |
No |
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Number of charge holder(s) |
1 |
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Particular of the charge holder |
Name : State Bank of Bikaner and Jaipur Address : 26, Neelam Bata Road City : Faridabad State: Haryana ISO Country Code : IN Pin Code : 121001 E-mail ID : priyangarg@gmail.com |
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Nature or description of the instrument creating or modifying the charge |
Letter Regarding the Grant of individual limits within the Overall limit. Supplemental Agreement of Hypothecation of goods and assets for increase in the Overall Limit, Supplemental Agreement of Loan for Increase in the Overall Limit. |
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Date of the instrument creating charge |
14.04.2007 |
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Whether charge created or modified outside India |
No |
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Amount Secure by the charge |
Rs. 7.500 millions |
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Brief particulars of the principal terms and conditions and extent and operation of the charge |
(a) Rate of Interest C/C and T/L of the Rate of Interest @13.00% p.a. with a monthly rest. (b) Terms of repayment Term and Condition Repayment by the bank. (c) Margin Raw Material 25% Stock in Process 25%, Finished Goods and Any Others 25%, Book Debts / Receivables 40%. (d) Extent and Operation of the charge Hypothecation of Stock of Raw Material, SIP, Finished Goods and Receivables. Extension of charge on all the Current and fixed assets (Present and Future) in the name of the company. |
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Short particulars of the Property charged |
3D, 40-A Bp, NIT Faridabad. |
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Whether any of the property or interest therein under reference is not registered in the name of the company |
No |
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Date of latest modification prior to the present modification |
23.01.2006 |
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Particulars of the present modification |
Limit Enhanced from Rs. 3.500 millions to Rs. 7.500 millions (C/C Rs. 5.000 millions and T/L Rs. 2.500 millions). |
Form 8
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Name of the company |
FIVE ESS PRECISION COMPONENTS PRIVATE LIMITED |
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Presented By |
Mr. Rajesh Kumar |
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1) Date and description of instrument creating the change |
Agreement for Medium term Loan dated 26.03.2003 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 0.295 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 |
Jeep Mahindra Utility Double CAB, Engine No. AC11D24385 Serial No. 11D32753 Colour White |
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4) Gist of the terms and conditions and extent and Operation of the charge. |
Interest to be charged at the rate of 12.85% p.a. shall be calculated at the daily balance with monthly rest. |
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5) Name and Address and description of the Person entitled to the charge. |
State Bank of Bikaner and Jaipur, Neelam Bata Road, Faridabad |
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 :
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
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Indian Rupees |
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US Dollar |
1 |
Rs. 40.65 |
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UK Pound |
1 |
Rs. 80.35 |
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Euro |
1 |
Rs. 62.78 |
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 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 |
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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 |
|
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 |
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NR |
In view of the lack of information, they have no basis upon which to
recommend credit dealings |
No Rating |
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