MIRA
INFORM REPORT
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Report Date : |
23.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
INTEGRATED ENGINERING AND EXPORTS PRIVATE LIMITED |
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Registered Office : |
N-47, Sidco IV Phase Sipcot Industrial Complx, Hosur-635126, Tamil
Nadu |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
11.05.1992 |
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Com. Reg. No.: |
18-3759 |
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CIN No.: [Company
Identification No.] |
U02520TZ1992PTC003759 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEI04438A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Subject is engaged in making various types of Press Tools for Sheet Metal Components like Brackets, Seat Base, Steering Yokes, Steering Brackets and developed all types of Plastic Injection Moulds, 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 20000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established and reputed company having satisfactory track. Directors are reported as experienced and respectable businessmen. 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. |
LOCATIONS
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Registered Office : |
N-47, Sidco IV Phase Sipcot Industrial Complx, Hosur-635126, Tamil
Nadu, India |
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Tel. No.: |
91-4344-276334/ 277250 |
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Mobile No.: |
91-9942976132 |
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Fax No.: |
91-4344-277250 |
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E-Mail : |
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Website : |
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Head Office : |
No.47, Sidco IV Phase, Sipcot Industrial Complex, Hosur
635 126, Tamil Nadu, INDIA |
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Tel. No.: |
91 4344 276334 / 277250 |
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Fax No.: |
91 4344 277250 |
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E-Mail : |
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Factory 1 : |
Plot No. N-47, SIDCO IV Phase, SIPCOT Industrial Estate, Hosur – 635 109, Tamilnadu, India |
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Tel. No.: |
91-4344-276334 / 277250 |
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Fax No.: |
91-4344-277250 |
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E-Mail : |
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Website : |
http://www.ieel-hosur.com |
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DIRECTORS
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Name : |
Mr.V.Subramoni |
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Designation : |
Managing Director |
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Address : |
H-6, 1, V, New ASTCC Colony, Hosur, Dharmapuri, Tamilnadu-635109 |
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Date of Birth/Age : |
18.12.1947 |
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Date of Appointment : |
11.05.2001 |
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Name : |
Mr.J.P.John Peter Raj |
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Designation : |
Technical Director |
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Address : |
B-21, Thally Road, Thallyhousi, Ngboard, Hosur,
Dharmapuri,,Tamilnadu-635109 |
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Date of Birth/Age : |
29.05.1964 |
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Date of Appointment : |
29.09.2004 |
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Name : |
Mr.M.Meganathan |
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Designation : |
Director |
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Address : |
M 14, New ASTC Colony, Hosur, Dharmapuri, Tamilnadu-635109 |
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Date of Birth/Age : |
13.10.1959 |
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Date of Appointment : |
29.09.2004 |
KEY EXECUTIVES
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Name : |
Ganpathi and Mohan |
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Designation : |
Company Secretary |
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Address : |
No. 166, Gandhi Bazaar Circle, Bangalore – 560 004, Karnataka , India |
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Tel No.: |
91-80-6520353/ 6520427 |
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Email : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 29.09.2004
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Names of Shareholders |
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No. of Shares |
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AV Adaiammal |
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50 |
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C.BA Gavathiper Umal |
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25 |
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Brinda Rajiv |
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25 |
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K. D. Uraisamy |
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25 |
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V. G. Nansekaran |
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25 |
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J.P. George Stephen |
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55 |
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Hema Dharma Rajan |
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25 |
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A. N. Gairkanni |
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25 |
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A.I. Ruda YamraI |
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25 |
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L. Jayammary |
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25 |
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J.P. John Peter Raj |
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25 |
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J. P. John Peter Raj |
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1275 |
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M. Lalitha |
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30 |
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T. P. Kanthi Mathi |
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25 |
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M. Megnathan |
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1308 |
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V. Murugan |
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25 |
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J. Murugan |
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25 |
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M. Neelaveni |
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28 |
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M. Parvathi |
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28 |
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Geetha |
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63 |
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J. Gathima Rani |
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25 |
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V. R. Ajamaoni |
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25 |
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S. Ganapathi subbama niyam |
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19 |
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Gopal Akbishnan |
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21 |
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V. Subramoni |
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1349 |
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S. Selvam |
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75 |
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K. Selvi |
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25 |
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P. Sengottaiyan |
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25 |
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K. Karasuram |
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25 |
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T. Thott Iyappan |
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25 |
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K. Rajeswari |
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25 |
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R. Kesavan |
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25 |
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G. Velmurugan |
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25 |
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M. Mageswari |
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100 |
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Mohana Parasuram |
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50 |
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Total |
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4976 |
Equity Share Breakup (Percentage of total equity)
As on 30.09.2006
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Category |
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Percentage |
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Directors or Relatives of Directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is engaged in making various types of Press Tools for Sheet Metal Components like Brackets, Seat Base, Steering Yokes, Steering Brackets and developed all types of Plastic Injection Moulds, etc. |
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Products : |
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GENERAL
INFORMATION
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Customers : |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
M. K. Rao and Company Chartered Accountants |
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Address : |
A41/12 TNHB Colony, Bagalpur Road, Hosur-635109,
Tamilnadu, India |
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Tel. No.: |
91-4344-544536/ 544753 |
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Mobile No.: |
91-9843150705 |
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Fax No.: |
91-4344-540390 |
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E-Mail : |
CAPITAL STRUCTURE
As on 30.09.2006
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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5000 |
Equity Shares |
Rs1000/-each |
Rs.5.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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4951 |
Equity Shares |
Rs1000/-each |
Rs. 4.951
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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4.951 |
4.951 |
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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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1.500 |
1.500 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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6.451 |
6.451 |
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LOAN FUNDS |
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1] Secured Loans |
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0.818 |
2.068 |
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2] Unsecured Loans |
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5.234 |
5.631 |
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TOTAL BORROWING |
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6.052 |
7.699 |
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DEFERRED TAX LIABILITIES |
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6.089 |
6.902 |
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Creditor for capital goods |
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1.024 |
0.000 |
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TOTAL |
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19.614 |
21.052 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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14.319 |
12.095 |
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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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11.369 |
11.921 |
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Sundry Debtors |
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8.462 |
10.882 |
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Cash & Bank Balances |
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0.033 |
0.144 |
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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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0.929 |
0.655 |
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Total
Current Assets |
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20.793 |
23.602 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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15.373 |
13.287 |
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Provisions |
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1.080 |
2.363 |
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Total
Current Liabilities |
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16.453 |
15.650 |
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Net Current Assets |
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4.340 |
7.952 |
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MISCELLANEOUS EXPENSES |
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0.955 |
1.005 |
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TOTAL |
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19.614 |
21.052 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
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Sales Turnover |
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40.000 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.49 |
3.62 |
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Current Ratio (Current Asset/Current Liability) |
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1.26 |
1.51 |
LOCAL AGENCY
FURTHER INFORMATION
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 |
U02520TZ1992PTC003759 |
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Name of the
company |
INTEGRATED
ENGINERING AND EXPORTS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
N-47, Sidco IV Phase Sipcot Industrial Complx, Hosur-635126, Tamil
Nadu, India |
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Type of charge |
Immovable
Property Movable Property |
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Particular of
charge holder |
State Bank of Mysore, MM Reddy Complex, Old Bangalore
Road, Hosur-635109, Tamilnadu, India |
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Nature of description
of the instrument creating or modifying the charge |
a)
Cash
Credit Rs. 3.800 Millions b)
Cheque purchase Rs. 0.700 Millions c)
Term Loan Rs. 2.200 Millions Non fund Based a)
Letter of
Credit (inland) Rs. 3.500 Million b)
Bank
Guarantee Rs.1.000 Millions |
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Date of
instrument Creating the charge |
08.08.2007 |
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Amount secured by
the charge |
Rs. 13.395
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit
14.75% Term Loan 14.75% Terms of Repayment Cash Credit 12
Months Term loan-36
Months without any moratorium period and repayable in 35 installment of Rs.
0.061 Millions each and 36th installment Rs. 0.060 Millions effect
from September 2007 Margin Cash credit 25% LC 15% Cash
Margin BG 25% cash
Margin Term Loan 33.51% Extent and Operation of the charge d)
Cash
Credit Rs. 3.800 Millions e)
Cheque purchase Rs. 0.700 Millions f)
Term Loan Rs. 2.200 Millions Non fund Based c)
Letter of
Credit (inland) Rs. 3.500 Million d)
Bank
Guarantee Rs.1.000 Millions |
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Short particulars
of the property charged |
Hypothecation of
Stocks or Raw Materials, Semi Finished and Finished Goods. Collateral: First charge on
fixed Assets of the company as detailed below: (WDV Rs. 133.950 Millions as
on 31.03.2007) Factory land and
building at N-47, IV Sidco Industrial Estate, Hosur 635126, Valued at Rs
99.230 Millions as per valuations report dated 17 10.2005 (WDC as
Rs. 31.440 Millions as on 31.03.2007) Plant and Machinery
office equipment and furnitures valued as 102.510 Millions (EDC as per
Balance Sheet Dated 31.03.2007) |
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Date of instrument creating or evidencing the
charge |
08.08.2007 |
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Description of
the instrument creating or evidencing the charge |
g)
Cash
Credit Rs. 3.800 Millions h)
Cheque purchase Rs. 0.700 Millions i)
Term Loan Rs. 2.200 Millions Non fund Based e)
Letter of
Credit (inland) Rs. 3.500 Million Bank Guarantee
Rs.1.000 Millions |
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Date of
acquisition of the property |
08.08.2007 |
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Amount of the
charge |
Rs. 11.200 Millions |
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Particulars of
the property charged |
Hypothecation of
Stocks or Raw Materials, Semi Finished and Finished Goods. Collateral: First charge on
fixed Assets of the company as detailed below: (WDV Rs. 133.950 Millions as on
31.03.2007) Factory land and
building at N-47, IV Sidco Industrial Estate, Hosur 635126, Valued at Rs
99.230 Millions as per valuations report dated 17 10.2005 (WDC as
Rs. 31.440 Millions as on 31.03.2007) Plant and Machinery
office equipment and furnitures valued as 102.510 Millions (EDC as per
Balance Sheet Dated 31.03.2007) |
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Name of the company |
INTEGRATED
ENGINEERING AND EXPORTS PRIVATE LIMITED |
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Presented By |
Mr. Subramoni, Managing
Director |
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1) Date and description of instrument creating the change |
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2) Amount secured by the charge/amount owing on the securities of charge |
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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 |
1st
Cheque on:
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4) Gist of the terms and conditions and extent and operation of the charge. |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of Mysore, MM Reddy Complex, Old Bangalore
Road, Hosur-635109, Tamilnadu, India |
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6) Date and brief description of instrument modifying the charge |
1)
Sanction
Letter dated 12.06.2004 2)
Application
for immovable Letter of Credit dated 12.06.2004 3)
Agreement
for Guarantee and indemnity dated 12.06.2004 |
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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. |
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The company’s Fixed Assets of important value includes:
- Land
- Building
- Plant and Machinery
- Electrical Installations
- Office Equipments
- Tools and Moulds
- Generator
- Furniture
- Vehicles
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.15 |
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UK Pound |
1 |
Rs.85.08 |
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Euro |
1 |
Rs.68.10 |
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 |
6 |
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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 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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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 |
|
47 |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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