MIRA
INFORM REPORT
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Report Date : |
24.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
STUP CONSULTANTS PRIVATE LIMITED |
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Registered Office : |
1004-05, Raheja Chambers, Nariman Point, Mumbai 400021, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
09.05.1963 |
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Com. Reg. No.: |
012649 |
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CIN No.: [Company
Identification No.] |
U74999MH1963PTC012649 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMS47670A |
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PAN No.: [Permanent
Account No.] |
AABCS1945E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Engineering Consultants specialised in Road, Bridges, Ports, Water
Supply, Sewerage etc. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Maximum Credit Limit : |
USD 2636972 |
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Status : |
Good |
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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
records. Trade relations are
fair. Payments are usually correct
and as per commitments. The company can be considered good for normal business dealings at
usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
1004-05, Raheja Chambers, Nariman Point, Mumbai 400021, Maharashtra,
India |
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Tel. No.: |
91-22-22832334 |
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Fax No.: |
91-22-22048422/24 |
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E-Mail : |
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Website : |
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Branches : |
India |
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Overseas Offices: |
Mauritius America |
DIRECTORS
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Name : |
Mr. Rupchand Chander Alimchandani |
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Designation : |
Director |
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Address : |
26, Gulmarg, Nepean Sea Road, Malabar Hill, Mumbai 400006,
Maharashtra, India |
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Date of Birth/Age : |
18.02.1935 |
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Date of Appointment : |
01.01.2007 |
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Name : |
Mr. Kovanyko Nicolas Serge |
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Designation : |
Director |
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Address : |
92200, Neuilly, Sur-Seine, Paris |
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Date of Birth/Age : |
25.10.1927 |
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Date of Appointment : |
01.06.1967 |
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Name : |
Mr. Amitabha Akshay Kumar Ghosal |
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Designation : |
Director |
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Address : |
72, Jodhpur Park, Kolkata 700068 |
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Date of Birth/Age : |
21.09.1936 |
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Date of Appointment : |
05.08.2002 |
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Name : |
Mr. Abhin Chander Alimchandani |
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Designation : |
Director |
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Address : |
26, Gulmarg, Nepean Sea Road, Malabar Hill, Mumbai 400006,
Maharashtra, India |
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Date of Birth/Age : |
13.09.1966 |
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Date of Appointment : |
05.08.2002 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
[As on 30.09.2004]
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Names of Shareholders |
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No. of Shares |
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Asie Etudes |
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15696 |
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Gokhale Vaijayanti Purushottam |
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160 |
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Jagus Jijibhoy Pesi |
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1200 |
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Mhatre Yeshwant Aatmaram |
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128 |
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Postel Michel |
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1324 |
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Alimchandani Chander Nirmala |
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2080 |
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Alimchandani Chander Nirmala |
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4896 |
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Alimchandani Rupchand Chander |
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2080 |
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Alimchandani Chander Abhin |
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2080 |
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Alimchandani Chander Souren |
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2080 |
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Havovi K. Mehta |
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1200 |
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Basant Kumar |
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2240 |
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Carnac D. Hilla |
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1120 |
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Jimmy H. Kapadia |
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1120 |
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Narinder Kumar Nayar |
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1236 |
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Vijayan Nambiar |
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400 |
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Vimala Nayanar |
|
400 |
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Jayram Nambiar |
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400 |
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Soudamini Prabhakaran |
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400 |
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Shantha Nambiar |
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400 |
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Sethuram Nambiar |
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400 |
BUSINESS DETAILS
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Line of Business : |
Engineering Consultants specialised in Road, Bridges, Ports, Water
Supply, Sewerage etc. |
GENERAL
INFORMATION
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No. of Employees : |
700 |
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Bankers : |
· State Bank of Indore Empire House, 214, D. N. Road, Fort, Mumbai 400001, Maharashtra, India |
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Banking
Relations : |
Good |
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Auditors : |
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Name : |
R. K. Nanavati Chartered Accountants |
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Address : |
Dun Apartment, Flat No. 904, 225/227, Tardeo, Mumbai 400007,
Maharashtra, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs. 100/- each |
Rs. 5.000 Millions |
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Issued Capital:
|
No. of Shares |
Type |
Value |
Amount |
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42990 |
Equity Shares |
Rs. 100/-
each |
Rs. 4.299
Millions |
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Subscribed and Paid up Capital:
|
No. of Shares |
Type |
Value |
Amount |
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42656 |
Equity Shares |
Rs. 100/-
each |
Rs. 4.266
Millions |
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Note:
1] 150 Equity Shares of Rs. 100/- each
allotted as fully paid up pursuant to a contract without payment being received
in cash.
2] Rs. 3999000/- as value of 39990 fully paid
Equity Shares of Rs. 100/- each issued as Bonus Shares by Capitalisation of
General Reserve.
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
4.266 |
4.265 |
4.265 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
654.977 |
564.740 |
437.893 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
659.243 |
569.005 |
442.158 |
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LOAN FUNDS |
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1] Secured Loans |
7.653 |
9.300 |
14.013 |
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2] Unsecured Loans |
0.000 |
0.150 |
0.150 |
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TOTAL BORROWING |
7.653 |
9.450 |
14.163 |
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DEFERRED TAX LIABILITIES |
2.052 |
0.000 |
3.812 |
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TOTAL |
668.948 |
578.455 |
460.133 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
169.489 |
94.609 |
56.226 |
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Capital work-in-progress |
5.510 |
3.215 |
1.895 |
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INVESTMENT |
0.129 |
0.129 |
0.129 |
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DEFERREX TAX ASSETS |
0.000 |
1.465 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
|
0.000 |
0.000 |
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Sundry Debtors |
429.811
|
445.227 |
356.848 |
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Cash & Bank Balances |
62.891
|
73.299 |
83.455 |
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Other Current Assets |
0.000
|
2.677 |
0.000 |
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Loans & Advances |
151.237
|
123.996 |
78.039 |
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Total
Current Assets |
643.939
|
645.199 |
518.342 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
150.119
|
79.229 |
66.162 |
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Provisions |
0.000
|
86.933 |
50.297 |
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Total
Current Liabilities |
150.119
|
166.162 |
116.459 |
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Net Current Assets |
493.820
|
479.037 |
401.883 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
668.948 |
578.455 |
460.133 |
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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 |
636.737 |
593.886 |
490.988 |
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Other Income |
0.000 |
0.000 |
6.705 |
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Total Income |
636.737 |
593.886 |
497.693 |
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Profit/(Loss) Before Tax |
130.936 |
155.089 |
108.099 |
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Provision for Taxation |
0.000 |
0.000 |
19.865 |
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Profit/(Loss) After Tax |
130.936 |
155.089 |
88.234 |
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Expenditures : |
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Personal |
0.000 |
0.000 |
168.364 |
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Sub-Consultancy and Export Fees |
0.000 |
0.000 |
93.544 |
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Design and Drawing Expenses |
0.000 |
0.000 |
3.710 |
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Interest |
2.050 |
1.599 |
2.534 |
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Depreciation |
16.717 |
8.583 |
7.291 |
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Other Expenses |
0.000 |
0.000 |
114.113 |
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Wealth tax provision |
487.034 |
428.615 |
0.038 |
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Total Expenditure |
505.801 |
438.797 |
389.594 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
20.56
|
26.11 |
17.73 |
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Net Profit Margin (PBT/Sales) |
(%) |
20.56
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26.11 |
22.02 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
16.10
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20.96 |
18.81 |
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Return on Investment (ROI) (PBT/Networth) |
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0.20
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0.27 |
0.24 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.24
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0.31 |
0.29 |
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Current Ratio (Current Asset/Current Liability) |
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4.29
|
3.88 |
4.45 |
LOCAL AGENCY
FURTHER INFORMATION
Business:
The Company acts as Engineers and Contractors and has completed several
large projects.
Form 8:
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Name of the company |
STUP CONSULTANTS
LIMITED |
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Presented By |
State Bank of Indore Empire House, 214, D. N. Road, Fort, Mumbai 400001, Maharashtra, India |
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1) Date and description of instrument creating the change |
Equitable
mortgage of the office premises dated 16.07.1991 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 18.700
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 |
Office premises at
1005 and 1007 Raheja Chambers, Nariman Point, Mumbai 400021 |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Operation of
charge : Full |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of Indore Empire House, 214, D. N. Road, Fort, Mumbai 400001, Maharashtra, India |
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6) Date and brief description of instrument modifying the charge |
Memorandum of
equitable mortgage dated 06.07.2000 |
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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. |
First
Modification: On 04.07.1994 charge modified for covering enhanced limits to
the extent of Rs. 2.800 Millions for cash credit hypothecation of Book
Debts/Cheque purchase limit. Second
Modification: On 11.08.1994 office no. 1007 situated at Raheja Chambers,
Nariman Point, Mumbai has been released from charge. Third Modification:
On 27.06.1995 charge on office premised enhanced from Rs. 18.700
Millions to Rs. 32.500 Millions Fourth
Modification: On 20.09.1996 charge enhanced from Rs. 32.500 Millions to Rs.
37.500 Millions. Fifth
Modification: On 31.03.2000 charge enhanced from Rs. 37.500 Millions to Rs.
42.500 Millions. By present
modification: Security as described in 3 above extended to cover enhanced
limits of Rs. 7.500 Millions charge enhanced from Rs. 42.500 Millions to Rs.
50.000 Millions. |
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Corporation identity number or foreign company registrations number of the company |
U74999MH1963PTC012649 |
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Name of the company |
STUP CONSULTANTS PRIVATE LIMITED |
|
Address |
1004-05, Raheja Chambers, Nariman Point, Mumbai 400021, Maharashtra,
India |
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This Form is for |
Modification of charge |
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Type of Charges |
Hypothecation |
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Particular of the charge holder |
State Bank of Indore Empire House, 214, D. N. Road, Fort, Mumbai 400001, Maharashtra, India |
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Amount Secure by the charge |
Rs. 14.500 Millions |
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Brief of the principal terms and conditions and extent and operation of the charge |
Margin : Letter of Guarantee 15% Exchange – Commission – 0.15% p.a. and Repayment on demand |
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Description of the property charged |
Stock in trade Book debts |
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Particulars of the Property charged |
Hypothecation of book debts and other current assets of the company |
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Charge identification number of the charge to be modified |
80010156 |
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Brief description of the instrument modifying the charge under section 135 |
Supplemental agreement of hypothecation of goods and assets for increase in the overall limit. |
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Date of the instrument modifying the charge |
09.08.2006 |
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Particulars of the present modification |
Guarantee limit enhanced from Rs. 60.000 Millions to Rs. 100.000 Millions |
AS PER WEBSITE DETAILS
PROFILE:
Subjectis a full service project delivery consultancy company offering integrated planning, architectural, engineering
and project management services for power, transportation, telecommunications,
commercial, institutional, recreational and manufacturing facility
infrastructure, and is an
international firm with
over 1200
professionals in more
than 20
offices and global project locations.
Subject is a French acronym for “Societe Technique pour
l’Utilisation de la Precontrainte” meaning “ technical corporation for the
utilization of prestressed concrete” was established in Paris in 1944 to spread
the knowledge of prestressed concrete and other inventions of Eugene Freyssinet
Company first global offices were established by Mr. Yves
Guyon in 1963 who gave prestressed concrete its theoretical basis and
transferred technology by setting up engineering consultancy groups in the Americas, Africa, Asia
and the Middle East to attract and train local professionals
thereby creating centers of excellence.
Subject has served over 10,000 clients in 28 countries
on projects of tremendous diversity such as road master plans in Bangladesh,
water supply in Laos, highways in Kuwait, sports facilities in UAE, offshore
facilities and hospitals in Oman, nuclear reactors, airports, and power plants
in India, the presidential palace complex in Ghana, etc.
Company wide range of resources and expertise offer comprehensive
and single umbrella solutions (incorporating architectural,
building and infrastructure engineering, mechanical, electrical and hvac
services) to technically challenging projects and services from planning to
construction, for local and national governments, international financing
institutions, private sector owners, contractors and public sector
institutions.
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. 42.84 |
|
UK Pound |
1 |
Rs. 84.78 |
|
Euro |
1 |
Rs. 67.32 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
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--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
57 |
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 |
|