MIRA
INFORM REPORT
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Report Date : |
22.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
ZENITH WELDAIDS PRIVATE LIMITED |
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Registered Office : |
C – 164, Site No -I, Bulandshahar Road, Industrial Area, Ghaziabad –
201001, Uttar Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
23.10.1989 |
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Com. Reg. No.: |
20-11307 |
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CIN No.: [Company
Identification No.] |
U2731OUP1989PTCO11307 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Continous Coiler, Dry Drawing Machine, Horizontal Spooler,
Butt Welding Machine, Flattening Machine, etc. |
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 16000 |
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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 meeting its normal commitments
timeously. Trade relations are fair. Business is active. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Deepak Tyagi |
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Designation : |
Director |
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Mobile no: |
91-9810139137 |
LOCATIONS
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Registered Office / Factory : |
C – 164, Site No -I, Bulandshahar Road, Industrial Area, Ghaziabad –
201001, Uttar Pradesh |
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Tel. No.: |
91-120-2701269 / 2700788 |
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Mobile : |
91-9810139137 (Mr. Deepak Tyagi) |
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Telefax : |
91-120-2700513 / 2700511 |
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Email : |
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Website : |
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Location : |
Owned |
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Mumbai Office : |
207, Neelkanth Commercial Center, 122-123, Sahar Road, Andheri [East],
Mumbai – 400099 |
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Tel No.: |
91-22-28344676 |
DIRECTORS
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Name : |
Mr. Deepak Tyagi |
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Designation : |
Director |
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Address : |
D- 217 Ramprastha, Chander Nagar, Ghaziabad 201011 Uttar Pradesh India |
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Date of Birth/Age : |
01.05.1955 [50 Years] |
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Qualification : |
Post Graduate |
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Date of Appointment : |
23.10.1989 |
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Name : |
Mrs. Rajni Kanta Tyagi |
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Designation : |
Director |
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Address : |
D- 217 Ramprastha, Chander Nagar, Ghaziabad 201011 Uttar Pradesh India |
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Date of Birth/Age : |
06.10.1963 [42 Years] |
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Qualification : |
Post Graduate with MBA |
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Date of Appointment : |
10.05.1991 |
KEY EXECUTIVES
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Name : |
Bindal Anubhav & Associates |
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Designation : |
Company Secretary |
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Address : |
I E/ Jhandewalan Extension , New Delhi 110005 |
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Mobile No.: |
91-9810348749 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 30.09.2005
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Names of Shareholders |
No. of Shares |
|
Mr. Deepak Tyagi |
11020 |
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Mr. Pawan Tyagi |
100 |
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Mr. Satish Gupta |
980 |
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Mr. Jitendra Jyagi |
950 |
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Mr. PR Tyagi |
1000 |
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Mrs Rajni Tyagi |
980 |
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Mr. Ram Sharma |
980 |
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Mr. C M Sood |
500 |
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Mr. Vinod Shrma |
850 |
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Mr. P S Chaturvedi |
980 |
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Mr Ashok Sharma |
870 |
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Mr. Parmatma |
900 |
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Mr. Mahesh Chand |
430 |
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Mr. Vishnu Kumar |
1690 |
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Mr. RamTyagi |
1600 |
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Mr. Ishwar Dayal |
880 |
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Mr. Rajwati Tyagi |
795 |
As on 30.09.2007
Equity Share breakup (Percentage of total equity)
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Category |
Percentage |
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Directors or relatives of directors |
61.00 |
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Other top fifty (50) shareholders (other than listed above) |
39.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Continous Coiler, Dry Drawing Machine, Horizontal
Spooler, Butt Welding Machine, Flattening Machine, and more |
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Products : |
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Exports : |
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Countries : |
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Imports : |
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Products : |
Components |
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Countries : |
China |
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Terms : |
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Selling : |
L/C and Cash |
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Purchasing : |
Cash |
GENERAL
INFORMATION
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Customers : |
Manufacturer |
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No. of Employees : |
100 |
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Bankers : |
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Financial Institution : |
U.P Financial Corporation
14/88, civil lines, Kanpur |
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Auditors : |
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Name : |
Garg R Kumar & Associates Chartered Accountants |
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Address : |
137 Nauyug Market, Ghaziabad -201001, Uttar Pradesh |
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Subsidiaries : |
Associated machinery
Corporation Limited Activities : Manufacturer of Continous Coiler, Dry Drawing Machine,
Horizontal Spooler, Butt Welding Machine, Flattening Machine, etc. |
CAPITAL STRUCTURE
AS ON 30.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs. 100/- each |
Rs. 5.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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29720 |
Equity Shares |
Rs. 100/-
each |
Rs. 2.972
Millions |
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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2.972 |
2.972 |
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2] Share Application Money |
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0.085 |
0.085 |
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3] Reserves & Surplus |
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1.030 |
0.599 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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4.087 |
3.656 |
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LOAN FUNDS |
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1] Secured Loans |
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0.103 |
0.200 |
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2] Unsecured Loans |
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0.000 |
0.442 |
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TOTAL BORROWING |
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0.103 |
0.642 |
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DEFERRED TAX LIABILITIES |
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0.246 |
0.256 |
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TOTAL |
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4.436 |
4.554 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.381 |
2.328 |
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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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9.799 |
10.876 |
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Sundry Debtors |
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1.461 |
0.558 |
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Cash & Bank Balances |
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1.530 |
0.735 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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1.455 |
0.285 |
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Total
Current Assets |
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14.245 |
12.454 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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11.861 |
9.942 |
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Provisions |
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0.329 |
0.286 |
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Total
Current Liabilities |
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12.190 |
10.228 |
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Net Current Assets |
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2.055 |
2.226 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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4.436 |
4.554 |
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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 |
26.489 |
20.558 |
18.295 |
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Total Income |
26.489 |
20.558 |
18.295 |
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Profit/(Loss) Before Tax |
0.745 |
0.430 |
0.332 |
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Provision for Taxation |
0.315 |
0.220 |
0.105 |
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Profit/(Loss) After Tax |
0.430 |
0.210 |
0.227 |
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Expenditures : |
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Depreciation & Amortization |
0.386 |
0.468 |
0.249 |
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Other Expenditure |
25.358 |
19.660 |
17.714 |
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Total Expenditure |
25.744 |
20.128 |
17.963 |
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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 |
(%) |
1.62
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1.02 |
1.24 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.81
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2.09 |
1.81 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.48
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2.91 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.18
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0.12 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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3.01
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2.97 |
NA |
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Current Ratio (Current Asset/Current Liability) |
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1.17
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1.22 |
NA |
LOCAL AGENCY
FURTHER INFORMATION
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Name of the company |
ZENITH WELDAIDS PRIVATE LIMITED |
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Presented By |
Deepak Tyagi,
Director |
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1) Date and description of instrument creating the change |
Equitable
mortgage created on 31-7-95 by deposit of title deed of the company. Agreement and
Hypothecation even dated 31.07.1995 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Working capital
loan Rs.2.250 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 |
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4) Gist of the terms and conditions and extent and operation of the charge. |
19% p. a
including Interest tax repayment in 3 Years |
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5) Name and Address and description of the person entitled to the charge. |
U.P Financial
Corporation 14/88, civil lines, Kanpur |
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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 |
Bankers Charges
Report as per Registry
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U27310UP1989POTC011307 |
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Name of the
company |
ZENITH WELAIDS
PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
C – 164, SITE NO,-I, BULANDSHAHAR ROAD, INDUSTRIAL AREA GHAZIABAD |
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Type of charge |
·
Immovable
property ·
Book debt ·
Movable |
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Particular of
charge holder |
Canara Bank, SME Branch, Ghaziabad – 201001, Uttar Pradesh, India |
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Nature of
description of the instrument creating or modifying the charge |
Cash Credits
agreement dated 11-06-2007 Letter evidencing
deposits of title deed 11-06-2007 |
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Date of instrument
Creating the charge |
11/06/2007 |
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Amount secured by
the charge |
Rs. 4.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest @ 12.25%
or such other rate as many be decided by bank on time to time Terms of
repayment On demand Margin For stock 25%
& book debts-40% Extent and
operation of the charge Open cash credit
limit Rs. 4.000 Millions with a sub limit of Rs 1.000 Millions against OD (BD) Others Nil |
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Short particulars
of the property charged |
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AS PER WEBSITE
Profile
Zenith Weldaids has been established in the field of Wire
Industry since late eighties and enjoys a hard earned reputation for its excellence
in engineering and latest technical know how. It is situated in the national
capital region just off NH 24 in Ghaziabad. Zenith design's, manufacture and supply wire machineries to a vast
cross section of the industry from small scale sector to large industrial
houses.
It's state of art technology
covers the entire spectrum of Wire industry from Bull block to super fine
machines. Intensive R&D coupled with the feedback from the user industry
has catalyzed a unique new generation of Wire Drawing Machines which offer the
most up to date economical answer to any drawing and processing needs.
Zenith Combines the commitment of its staff with the efficiency
of its proven design to provide machines which are second to none.
The motivation & innovation of
the management team together with the skill and dedication of its work force
ensures that each & every drawing and processing requirement is met swiftly
and to the highest quality.
Zenith Machines are high in performance, low in maintenance and
are of superior value in terms of life time cost, for it takes responsibility
for their service life time. All technical requirements of Wire, Cable and Wire
Rope Industry can be realized with these machines.
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. 42.72 |
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UK Pound |
1 |
Rs. 83.96 |
|
Euro |
1 |
Rs. 66.90 |
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 |
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 |
6 |
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--LEVERAGE |
1~10 |
6 |
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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 |
YES |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
48 |
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 |
|
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 |
|