MIRA
INFORM REPORT
|
Report Date : |
19.05.2008 |
IDENTIFICATION
DETAILS
|
Name : |
CHHATTISGARH ENGINEERS AND CONSULTANTS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Quarter No. 4 C Street -2, Sector – 2, Bhilai , Chattisgarh – 490 006 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
30.12.2003 |
|
|
|
|
Com. Reg. No.: |
10-16296 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U04520CT2003PTC016296 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
BPLC01671F |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AACCC3002B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Providers of Engineer and Consultancy Services |
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 19000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well – established and reputed company meetings its
normal commitments timeously. Trade relations are fair. The company can be considered good for normal business dealings. |
LOCATIONS
|
Registered Office : |
Quarter No. 4 C Street -2, Sector – 2, Bhilai , Chattisgarh – 490 006,
India |
|
Tel. No.: |
91-788-4040570 / 5040847 |
|
E-Mail : |
|
|
Websites : |
DIRECTORS
|
Name : |
Mr. Onkar Sahay |
|
Designation : |
Director |
|
Address : |
8 C St -2, Sector-2, Bhilai , Durg – 490 001, Chattisgarh, India |
|
Date of Birth/Age : |
24.07.1941 |
|
Date of Appointment : |
13.12.2003 |
|
|
|
|
Name : |
Mr. A C Sawhney |
|
Designation : |
Director |
|
Address : |
MIG C – 188, Vaishali Nagar, Bhilai – 490 020, Chattisgarh, India |
|
Date of Birth/Age : |
12.06.1949 |
|
Date of Appointment : |
13.12.2003 |
|
|
|
|
Name : |
Mr. S lal |
|
Designation : |
Director |
|
Address : |
Block – 44/6, Nehru Nagar (East), Bhilai – 490 020, Chattisgarh, India
|
|
Date of Birth/Age : |
01.01.1951 |
|
Date of Appointment : |
13.12.2003 |
|
|
|
|
Name : |
Mr. S K Jain |
|
Designation : |
Director |
|
Address : |
4 C St – 52, Sector – 8 Bhilai , Durg – 490 006, Chattisgarh, India |
|
Date of Birth/Age : |
04.01.1947 |
|
Date of Appointment : |
13.12.2003 |
|
|
|
|
Name : |
Mr. N R Bundelkhandi |
|
Designation : |
Director |
|
Address : |
6 A, ST – 21, Sector – 4, Bhilai – 490 001, Chattisgarh, India |
|
Date of Birth/Age : |
15.11.1947 |
|
Date of Appointment : |
13.12.2003 |
|
|
|
|
Name : |
Mr. A K Chakraborty |
|
Designation : |
Director |
|
Address : |
D -34 Hospital Sector , Bhilai – 490 006, Chhattisgarh, India |
|
Date of Birth/Age : |
12.01.1947 |
|
Date of Appointment : |
13.12.2003 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders (as on 31.03.2007) |
|
No. of Shares |
|
Mr. Onkar Sahay |
|
4067 |
|
Mr. A C Sawhney |
|
4067 |
|
Mr. S Lal |
|
4067 |
|
Mr. S K Jain |
|
4066 |
|
Mr. N R Bundelkhandi |
|
4067 |
|
Mr. A K Chakraborty |
|
4066 |
|
Mrs. Maya Sahay |
|
4000 |
|
Mrs. Arti Sawhney |
|
4000 |
|
Mrs. Priti Lal |
|
4000 |
|
Mr.s Usha Bundelkhandi |
|
4000 |
|
Mrs. Kusum Jain |
|
4000 |
|
Mrs. Meena Chakraborty |
|
4000 |
|
|
Total |
48400 |
Equity Shares Breakup (Percentage of Total Equity): (as on 31.03.2007):-
|
Sr No. |
Category |
Percentage |
|
1 |
Directors or relative of directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providers of Engineer and Consultancy Services |
GENERAL
INFORMATION
|
No. of Employees : |
99 |
|
|
|
|
Bankers : |
· UCO Bank · IDBI Bank |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Rajesh Maroti and Company Chartered Accountants |
|
Address : |
1st Floor, Manglam Chambers, Plot No. 6-7, Block – C,
Dakhshin Gangotri , Supela, Bhilai – 490 023, Chattisgarh, India |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
48400 |
Equity Shares |
Rs. 10/-
each |
Rs. 0.484
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.484 |
0.484 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
4.132 |
2.009 |
0.775 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
4.616 |
2.493 |
0.875 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.062 |
0.062 |
0.064 |
|
|
|
|
|
|
|
|
TOTAL |
4.678 |
2.555 |
0.939 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.767 |
1.505 |
1.315 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
1.280
|
1.259 |
0.131 |
|
|
Cash & Bank Balances |
0.953
|
2.125 |
1.553 |
|
|
Other Current Assets |
4.556
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.000
|
1.135 |
0.640 |
|
Total
Current Assets |
6.789
|
4.519 |
2.324 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
2.179
|
2.277 |
2.102 |
|
|
Provisions |
1.701
|
1.197 |
0.606 |
|
Total
Current Liabilities |
3.880
|
3.474 |
2.708 |
|
|
Net Current Assets |
2.909
|
1.045 |
[0.384] |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.002 |
0.005 |
0.008 |
|
|
|
|
|
|
|
|
TOTAL |
4.678 |
2.555 |
0.939 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
19.352 |
15.952 |
8.739 |
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
Total Income |
19.352 |
15.952 |
8.739 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
3.380 |
2.094 |
1.215 |
|
|
Provision for Taxation |
1.257 |
0.859 |
0.439 |
|
|
Profit/(Loss) After Tax |
2.123 |
1.235 |
0.776 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Depreciation & Amortization |
0.505 |
0.452 |
0.130 |
|
|
Other Expenditure |
15.467 |
13.406 |
7.394 |
|
Total Expenditure |
15.972 |
13.858 |
7.524 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
10.97
|
7.74 |
8.87 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
17.46
|
13.12 |
13.903 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
39.50
|
34.76 |
33.38 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.84
|
0.84 |
1.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.84
|
1.39 |
3.09 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.75
|
1.30 |
8.56 |
LOCAL AGENCY FURTHER
INFORMATION
WEBSITE DETAILS:
The company has been established by a group of highly qualified, experienced and hard core engineers. Presently, subject is a very strong group of engineers and technical personnel of almost all engineering disciplines, each having diverse experience of about 15-35 years in the field of design, engineering and project execution Company office at Bhilai India.
Presently subject is providing detailed engineering services in the field of
Non Recovery Type Coke Oven Batteries/Recovery Type Coke Oven Batteries, Blast
Furnaces, Coal Dust Injection in BF, Tar Injection in Blast Furnaces, Sinter
Plants, Sponge Iron Plant (up to 500 tpd), Oxygen Plant, Pellet Plants, Petro
Coke Calcination Plant, Modernization of Blast Furnaces, Steel Melting Shops,
EAF, LRF and Induction Furnaces, Concasts, Waste Heat Recovery Power Plants,
Rolling Mills, Material Handling, Utilities and Services, Instrumentation and
Automation, Power Distribution (HT and LT), and Shop Electrics and Illumination
etc.
Some of the esteemed clients of CECON are – M/s FFE Minerals, M/s Jayaswals
NECO Limited, M/s VISA Steel, M/s Jindal Steel and Power Ltd, M/s Ispat
Industries, M/s Orissa Sponge Iron Limited, M/s Bhushan Limited, M/s Gujarat
NRE Coke Ltd.
It may be mentioned here that at present subject is the only consultancy
organization in India providing detailed engineering services for Non-Recovery
Type Coke Ovens based on Chinese Technology.
SKILLS
Based on the company experience and expertise in the field of design and
engineering and resources available, subject is confidently providing the most
effective and result oriented services in the field of
·
Techno Economic
Feasibility Reports
·
Bankable Reports
·
Basic Engineering
·
Finalization of General
Layout
·
Roads and Drainage
·
Finalization of
Tendering Packages
·
Preparation of
Technical Specifications
·
Technical Evaluations
of Offers and submission of Technical Recommendations
·
Assistance to Clients
in Placement of Orders on different vendors
·
Approval of Vendors’
Drawings
·
Preparation of
Working Drawings of all disciplines
·
Designers’
Supervision
·
Planning, Monitoring
and Scheduling (Pert Network on MS-Project/Prima Vera)
·
Assistance during
testing, heating and Commissioning
·
Third Party Inspection
of Plant and Equipment including Refractory
·
Material Handling,
Transportation (Including Pipe Conveyor) and Storage Complex.
·
Water Supply,
Sewerage and Fire Fighting
·
Pollution Control
·
Air Conditioning and
Ventilation
·
Energy, Utilities and
Piping
·
Civil
·
Refractory
·
Structural (Design,
Design drawings and Fabrication Drawings)
·
Electrics-Power
Supply (HT and LT), Shop Electrics and Illumination
· Instrumentation and Automation
·
Project Management
Services including site supervision (including refractories), quality assurance
and certification of bills.
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.42.64 |
|
UK Pound |
1 |
Rs.83.00 |
|
Euro |
1 |
Rs.66.00 |
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 |
NO |
|
--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 |
NO |
|
--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 |
|