MIRA
INFORM REPORT
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Report Date : |
19.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
HOLTEC CONSULTING PRIVATE LIMITED |
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Registered Office : |
Unit # 01-103, Imperial Tower, C Block Community Center, Naraina Vihar,
New Delhi – 110 028 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
01.01.1901 |
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Com. Reg. No.: |
10544 |
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CIN No.: [Company
Identification No.] |
U74140DL1901PTC010544 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELH00248D |
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PAN No.: [Permanent
Account No.] |
AAACH0031M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Provider of Engineering and Management Consulting, Engineering
Outsourcing, IT Enabled Design and Engineering Services. |
RATING &
COMMENTS
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MIRA’s Rating : |
Aa |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 1500000 |
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Status : |
Excellent |
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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 fine track.
General financial position is satisfactory. Fundamentals are strong and healthy.
Payments are made regularly as reported. The company can be considered good for normal business dealings. |
LOCATIONS
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Registered Office : |
Unit # 01-103, Imperial Tower, C Block Community Center, Naraina Vihar,
New Delhi – 110 028, India |
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Mobile No.: |
91-9810133725 |
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E-Mail : |
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Website : |
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Corporate Office : |
Holtec Centre, A Block , Sushant Lok, Gurgaon – 122 001, Haryana,
India |
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Tel. No.: |
91-124-4047900 / 2385095/ 2385096 |
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Fax No.: |
91-124-2385114 / 2385116 |
SHAREHOLDING
PATTERN
|
Equity Share Break Up (as on 31.03.2007) |
Percentage |
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Foreign holdings
(Foreign institutional investors ) foreign companies foreign financial
institutions , non residents or Overseas corporate bodies or others |
32.00 % |
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Bodies Corporate |
68.00% |
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Total |
100.00
% |
BUSINESS DETAILS
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Line of Business : |
Provider of Engineering and Management Consulting, Engineering
Outsourcing, IT Enabled Design and Engineering Services. |
GENERAL
INFORMATION
|
Customers : |
·
A.R.C. Cement Limited ·
Abhishek Cement Limited ·
Aditya Cement ·
Ahmedabad Electricity Company Limited ·
Al Jouf Cement ·
Al Wosta Cement Factory ·
Algerian Cement ·
Andhra Cements Limited ·
Andrew Yule and Company Limited ·
Apeejay Private Limited ·
Arab Swiss Engineering Company ·
Arvind Mills Limited ·
Asian Capital Services Limited ·
Asian Development Bank ·
Asian Paints(India) Limited ·
Assam Cement Limited ·
Associated Cement Companies Limited ·
Associated Stone Industries Limited ·
Atbara Cement Project ·
Balaram Cement Limited ·
Bangur Enterprises Limited ·
Baroda Rayon Corporation Limited ·
Bestway Cement ·
Bhagheeratha Engineering Limited ·
Binaguri Tea Company Limited ·
Binani Cement ·
Birla Brothers ·
Birla Cement and Industries Limited ·
Birla Corp Limited ·
Bojnoord Cement ·
BPL Refrigeration Limited ·
BPL Systems and Projects Limited ·
Breitenburger Ausland Beteiligungs Gmbh ·
BSA Group ·
Buckau Wolf India Limited (Krupp Industries India
Limited) ·
Bulk Cement Corporation (India) Limited ·
Byford Limited ·
Cement Corporation of India Limited ·
Century Cement ·
Chettinad Cement Corporation Limited ·
Cimmco Heavy Engineering (Div. of Cimmco Birla
Limited) ·
Cimmco International Limited ·
City Cement Company ·
Cominco Binani Zinc Limited ·
Consultancy Development Centre ·
Consultancy Engineering Services (P) Limited ·
Coromandal Fertilisers Limited (Now India Cement
Limited) ·
Cowi Consultant ·
CRC Bhupendra Cement Limited ·
Daewoo Corporation ·
Dalmia Cement (Bharat) Limited ·
Danish International Development Agency ·
DCM Limited ·
DCM Shriram Consolidated Limited (Shriram Cement
Works) ·
Deccan Cements Limited ·
Dhar Cement Limited ·
Dharani Cements Limited ·
Diamond Cements Limited ·
DLF Cement Limited ·
DLF Gujrat Limited ·
Duncan Agro Industries Limited ·
Duncans Industries Limited ·
Dwarka Cement Works ·
Ehdasse Sanat Corporation ·
Energy Management Centre ·
Essar Investments Limited ·
Essel Mining and Industries Limited ·
ETA Ascon Group FCB ·
Fluor Daniel ·
G. S. Sureka ·
Gharibwal Cement ·
GKW Limited ·
Government of Bhutan ·
Government of Bihar ·
Graphite India Limited ·
Grasim Cement ·
Gujrat Ambuja Cements Limited ·
Gujrat Heavy Chemicals Limited ·
Gujrat Himalaya Cements Limited ·
Gujrat Industrial Investment Corporation Limited ·
Gujrat Maritime Board ·
Gujrat Mineral Development Corporation Limited ·
Gujrat Sidhee Cement Limited ·
Hama Cement ·
Harish Chandra (I) Private Limited ·
Haryana State Industrial Development Corporation
Limited ·
Hatien 1 Cement Company ·
Heavy Engineering Corporation Limited ·
Hemadri Cements Limited ·
Himachal Consultancy Organisation Limited ·
Himachal Pradesh Mineral and Industrial Development Corporation
Limited ·
Himgri Cement Company Private Limited ·
Hindalco Industries Limited ·
Hindustan Lever Limited ·
Hindustan Zinc Limited ·
Holderbank Financiere Glaris Limited ·
Holderbank Management and Consulting Limited ·
Hulas Pipe Company Limited ·
Hyderabad Industries Limited ·
Idcol Cement Limited ·
IFC, Washington ·
India Cements Limited ·
India Gypsum Limited ·
Indian Aluminium Company Limited ·
Indian Rayon and Industries Limited ·
Indian Rayon and Industries Limited (Birla Periclase) ·
Indian Rayon and Industries Limited (Birla White) ·
Indian Seamless Steels and Alloys Limited ·
Indo Rama Cement Limited ·
Industrial Development Bank of India ·
Industrial Development Services ·
Industrial Promotion and Investment Corporation of
Orissa Limited ·
Industrial Reconstruction Corporation of India
Limited ·
IPI-SP Cement Company Limited ·
Isfahan Cement Company Limited ·
J.K. Cement Works ·
Jaiprakash Associates ·
Jaiprakash Industries Limited ·
Jaiprakash Industries Limited (Jaypee Bela Cement) ·
Jaiprakash Industries Limited (Jaypee Rewa Cement) ·
Jammu and Kashmir Cements Limited ·
Jammu and Kashmir Minerals Limited ·
Jay Engineering Works Limited ·
Jaypee Assam Cement Limited ·
Jenson and Nicholson India Limited ·
Jordan Cement Factory Limited ·
Kalyanpur Cements Limited ·
Kanoria Chemicals and Industries Limited ·
Kanoria Industries Limited ·
Karnatka Cement Limited ·
Karnatka State Industrial Development Corporation
Limited ·
Kaypee Industries Limited ·
KCP Limited ·
Kedia Group of Industries ·
Kerala State Industrial Development Corporation
Limited ·
Kesoram Cement ·
Khaitan Hostombe Spinels Limited ·
Kobe Steel ·
Kustner Industries S.A. ·
Lafarge Group ·
Larsen and Toubro Limited ·
Lok Housing and Construction Limited ·
Longulf Trading (UK) Limited ·
Lucky Cement ·
Macawber Beekay Limited ·
Madras Cements Limited ·
Mafatlal Fine Spg. and Mfg. Company Limited ·
Magnesite and Minerals Limited ·
Maihar Cement ·
Makers Development Services Private Limited ·
Malwa Cotton Spinning Mills Limited ·
Mangalam Cement Limited ·
Manikgarh Cement ·
Maurya Cement and Slag Limited ·
Mawmluh Cherra Cements Limited ·
Meghalaya Industrial Development Corporation Limited ·
Menzi Muck Ag ·
Messebo Building Materials Production Share Company ·
Ministry of Industry, Government of India. ·
Ministry of Science and Technology, Government of
India. ·
Modern India Construction Company Limited ·
Modi Cement Limited ·
Modipon Limited ·
Morning Star Cement ·
Nagarjuna Construction Company Limited ·
Narmada Cement Company Limited ·
National Hydro Electric Power Corporation Limited ·
National Thermal Power Corporation Limited ·
Necem Limited ·
Nepal Bureau of Mines ·
Nihon Nirmaan Limited ·
Nyeriz White Cement ·
OCL India Limited ·
Oman Cement Company ·
Orascom Construction Industries ·
OrientCement ·
Orissa Minerals and Chemicals Limited ·
Pakland Cement ·
Panyam Cements and Mineral Industries Limited ·
Patfab Engineers Private Limited ·
Penden Cement ·
Phoenix Cement Limited ·
Pradeshiya Industrial and Investment Corporation of
U.P. Limited ·
Prism Cement ·
Projects and Equipment Corporation of India Limited ·
Puttalam Cement Company Limited ·
Pyramid Cements Private Limited ·
Qassim Cement Company ·
Raasi Cement ·
Raj Cement ·
Rajashree Cement ·
Ramboll ·
Ranakpur Cements Limited ·
Raymond Cement Works ·
Riyadh Cement Company ·
Rohrbach Technologie Ag ·
Roofit Industries Limited ·
Ruchi Strips and Alloys Limited ·
Saudi Cement Company ·
Saudi White Cement Company ·
Saurashtra Cement Limited ·
Shankaranarayana White Cements Limited ·
Shree Cement Limited ·
Shree Digvijay Cement Company Limited ·
Sinoma INT ·
Sofian Cement ·
Sone Valley Cements Limited ·
South India Cements Limited ·
Southern Province Cement Company ·
Sri Lanka Cement Corporation Limited ·
Sri Vishnu Cement Limited ·
Standard Mills Company Limited ·
State Bank of India ·
Steel Authority of India Limited ·
Sundaram cements Limited ·
Super Circle Gaskets Limited ·
Sutlej Cotton Mills Limited ·
Svedala Industry ·
Swiss Agency for Development Cooperation ·
Tamil Nadu Cements Corporation Limited ·
Tamil Nadu Magnesite Limited ·
Tata Iron and Steel Company ·
Technology Application Consultants Private Limited ·
Tehran Cement Company Limited ·
Tejpur Vanijya Limited ·
Texmaco Limited ·
Thamarat Najran Company ·
The Jaipur Udyog Limited ·
The World Bank ·
Toyo Engineering Limited ·
Tranvancore Cements Limited ·
Udaipur Cement Works (J K Udaipur Udyog Limited) ·
United Nations Population Fund ·
Universal Cans and Containers Limited ·
Uttar Pradesh State Cement Corporation Limited ·
Vicat Group ·
Vikram Cement ·
Vinaconex ·
Vinay Cement ·
Visvesvaraya Iron and Steel Company Limited ·
Voltas Limited ·
Walchand Nagar Industries Limited ·
Wartsila India Limited ·
West Bengal Industrial Dev Corporation Limited ·
Yanbu Cement Company ·
Yemeni Saudi Cement Company ·
Zuari Agro Chemicals Limited ·
Zuari Cement |
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No. of Employees : |
450 |
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Bankers : |
Standard Chartered Bank Address: No. 10, parliament
Street, New Delhi – 110 001, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name 1: |
Luthra and Luthra Chartered Accountants |
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Address : |
A 169/9, Vasant Vihar, New Delhi – 110 057, India. |
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Name 2: |
Mehra Singh and Vishwanath Chartered Accountants |
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Address : |
Flat No. 10 Shankar Market, Connaught Circus, Delhi – 110 001, India |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
750000 |
Equity Shares |
Rs. 10/- each |
Rs. 7.500 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
400000 |
Equity Shares |
Rs. 10/-
each |
Rs. 4.000
millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
4.000 |
4.000 |
4.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
355.786 |
174.693 |
100.470 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
359.786 |
178.693 |
104.470 |
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LOAN FUNDS |
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1] Secured Loans |
1.872 |
2.515 |
9.489 |
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2] Unsecured Loans |
9.374 |
9.374 |
10.441 |
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TOTAL BORROWING |
11.246 |
11.889 |
19.930 |
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DEFERRED TAX LIABILITIES |
0.699 |
1.603 |
2.073 |
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TOTAL |
371.731 |
192.185 |
126.473 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
59.315 |
54.091 |
62.255 |
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Capital work-in-progress |
75.270 |
0.000 |
0.000 |
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INVESTMENT |
205.045 |
66.482 |
37.641 |
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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 |
0.000
|
23.845 |
14.560 |
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Sundry Debtors |
255.371
|
128.234 |
79.480 |
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Cash & Bank Balances |
231.237
|
192.584 |
79.286 |
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Other Current Assets |
29.818
|
25.753 |
10.307 |
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Loans & Advances |
224.158
|
123.319 |
65.164 |
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Total
Current Assets |
740.584
|
493.735 |
248.797 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
456.190
|
283.794 |
140.152 |
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Provisions |
252.293
|
138.329 |
82.068 |
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Total
Current Liabilities |
708.483
|
422.123 |
222.220 |
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Net Current Assets |
32.101
|
71.612 |
26.577 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
371.731 |
192.185 |
126.473 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.00
|
2.43 |
2.32 |
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Current Ratio (Current Asset/Current Liability) |
|
1.05
|
1.17 |
1.12 |
LOCAL AGENCY
FURTHER INFORMATION
FORM 8:-
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Name of the
company |
HOLTEC CONSUILTING PRIVATE LIMITED |
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Presented By |
HOLTEC CONSUILTING PRIVATE LIMITED |
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1) Date and
description of instrument creating the change |
The borrower (company)
has by declaration created the mortgage on the immovable property in favour
of the Standard Chartered Bank on 11.01.2004 The certified
copy of the memorandum of entry for the mortgage by way deposit of title
deeds in this regard is enclosed. |
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2) Amount secured
by the charge/amount owing on the securities of charge |
Rs. 8.500
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 |
Mortgage of
residential property located of the company at J – 12/1 DLF Qutub Enclave
Phase II , Gurgaon , Haryana |
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4) Gist of the
terms and conditions and extent and operation of the charge. |
Security for various credit facilities granted to Holtec Consulting
Private limited Charge operates as first
and paramount charge in favour
of the bank as security for all dues under the various credit facilities. |
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5) Name and
Address and description of the person entitled to the charge. |
Standard Chartered Bank No. 10, parliament Street, New Delhi – 110
001, 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 |
WEBSITE DETAILS:
Project
Highlights:
Cement Industry Services
Integrated range of engineering and management services a
"Total Solutions" approach.
Concept to commissioning services rendered for seventy five
new cement plants and major expansions.
Highly-developed capability to handle complete detailed engineering and
project management of cement plants.
Experienced in 74+ countries in over 2,800+ assignments.
ISO 9001:2000 certified.
Infrastructure Services
HIGHWAYS
The company has designed heavy-duty industrial roads, hill roads,
haulage roads, link and approach roads, and residential roads. These roads were
designed and built to single-lane, two-lane and four-lane specifications. The
company has also designed earthen and un-surfaced village roads. Additionally,
subject has also engineered high embankments, bridges, culverts, and drainage
systems.
Subject with their associates are capable of offering
most cost effective services for Captive Power projects:
· Techno-economic feasibility studies.
· Basic and detailed engineering.
· Energy conservation system.
· System study.
· Transmission and distribution system.
· Construction supervision and Project Management.
· Commissioning, troubleshooting and operations.
Success Stories:
The company and their associates have rendered engineering consultancy
for more than 45 captive power plants from concept to commissioning (Thermal
and DG based).
· 14 MW Captive Power plant for HOLCIM LANKA LIMITED, Sri Lanka
· 15 MW Captive Power Plant for Chettinad Cement Corp Limited
· 17 MW Captive Power plant for OCL India Limited, Orissa
· 17.5 MW Captive Power plant for Mangalam Cement Limited, Rajasthan
· 20 MW Captive Power plant for Gujurat Sidhee Cement Limited, Mumbai
· 35 MW Captive Power plant for Nirma Cement Limited, Gujarat
· 37 MW Captive Power plant for Najran Cement Limited
· 39 MW Captive Power plant for City Cement Limited, Saudi Arabia
· 40 MW Captive Power plant for Jaiprakash Associates Limited, India
· 40 MW Captive Power plant for Arabian Yemen Cement Limited
Resources:
· Key personnel have direct first hand experience in design, engineering and commissioning.
· Can provide integrated engineering solution covering Civil, Mechanical, Electrical, Piping, Cand I, under one roof.
· Have capacity to offer 500,000 engineering and drafting hours per annum with care skill.
· Has core erection and commissioning supervision team.
· Has exhibited its project management experience in handling very large activity project in tight schedule
Management Services (MS)
The management consulting division of Holtec, provides
comprehensive management solutions for clients in varied sectors and countries.
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.42.64 |
|
UK Pound |
1 |
Rs.83.00 |
|
Euro |
1 |
Rs.66.00 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
9 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
8 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
9 |
|
--PROFITABILIRY |
1~10 |
7 |
|
--LIQUIDITY |
1~10 |
9 |
|
--LEVERAGE |
1~10 |
9 |
|
--RESERVES |
1~10 |
9 |
|
--CREDIT LINES |
1~10 |
9 |
|
--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 |
|
75 |
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 |
|