MIRA
INFORM REPORT
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Report Date : |
27.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
CHANDRA HELICON PUMPS PRIVATE LIMITED |
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Registered Office : |
113/172, Swaroop Nagar, Kanpur – 208001, 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 : |
15.01.1986 |
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Com. Reg. No.: |
20-7631 |
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CIN No.: [Company
Identification No.] |
U27202UP1986PTC007631 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
KNPC01168G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Industrial Pumps. |
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 10284 |
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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. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Rajiv Gupta |
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Designation : |
Director (Marketing and purchase department) |
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Contact No.: |
91-9336104811 |
LOCATIONS
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Registered Office : |
113/172, Swaroop Nagar, Kanpur – 208001, Uttar Pradesh, India |
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Tel. No.: |
91-512-2532057 |
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E-Mail : |
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Website : |
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Area : |
800 Sq. meter |
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Location : |
Owned |
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Factory : |
H – 68, Panki Industrial Area, Site No. 1, Kanpur – 20801, Uttar
Pradesh, India |
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Tel. No.: |
91-512-2691554 / 2692142 |
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Mobile No.: |
91-9839111055 / 9336104811 |
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Fax No.: |
91-512-2691235 |
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Area : |
800 Sq. meter |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Avinash Chandra Gupta |
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Designation : |
Director |
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Address : |
113/172, Swaroop Nagar, Kanpur – 208001, Uttar Pradesh, India |
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Date of Birth/Age : |
08.10.1950 |
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Date of Appointment : |
15.01.1986 |
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Name : |
Mr. Rajiv Gupta |
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Designation : |
Director |
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Address : |
113/172, Swaroop Nagar, Kanpur – 208001, Uttar Pradesh, India |
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Date of Birth/Age : |
05.12.1962 |
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Qualification : |
B.Sc (LLB) |
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Date of Appointment : |
02.08.2005 |
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Name : |
Mrs Neeta Gupta |
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Designation : |
Director |
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Address : |
113/172, Swaroop Nagar, Kanpur – 208001, Uttar Pradesh, India |
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Date of Birth/Age : |
24.04.1963 |
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Qualification : |
BA |
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Date of Appointment : |
02.08.2005 |
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Name : |
Mr. Santosh Chandra Gupta |
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Designation : |
Director |
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Address : |
113/172, Swaroop Nagar, Kanpur – 208001, Uttar Pradesh, India |
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Date of Birth/Age : |
20.03.1954 |
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Qualification : |
Graduate |
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Date of Appointment : |
16.07.2001 |
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Name : |
Mr. Suresh Chandra Gupta |
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Designation : |
Director |
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Address : |
113/172, Swaroop Nagar, Kanpur – 208001, Uttar Pradesh, India |
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Date of Birth/Age : |
29.12.1936 |
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Qualification : |
Post Graduate |
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Date of Appointment : |
15.01.1986 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
Equity share breakup (percentage of total equity)
As on 31.03.2007
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Sr. No. |
Category |
Percentage |
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1. |
Directors or relatives of directors |
96.67 |
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2. |
Other fifty (50) shareholders (other than
listed above) |
3.33 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Industrial Pumps. |
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Products : |
v
Helicon Single Screw Open Mouth Pump v
Helicon Single Screw Motorised Barrel Pump v
Helicon Triple Action Macerator Pump |
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Exports : |
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Countries : |
Kenya |
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Terms : |
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Selling : |
L/C, Cash |
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Purchasing : |
100% Cash and DD |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
30 |
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Bankers : |
v ICICI Bank v Bank of Baroda,
SSI Branch, Sarvodaya Nagar, Kanpur |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
J. Prasad Gupta and Company, Chartered Accountants |
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Address : |
Kanodia Commercial Building, Birhana Road, Kanpur – 208001, Uttar
Pradesh, India |
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Sister Concerns : |
SRA Helicon High Tech Private Limited Line of
Business: Manufacturer and Exporter of Industrial Pumps. |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3,00,000 |
Equity Shares |
Rs. 10/- Each |
Rs. 3.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
30,000 |
Equity Shares |
Rs. 10/-
Each |
Rs. 0.300
million |
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 |
0.300 |
0.300 |
0.300 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2.271 |
1.856 |
1.369 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
(0.048) |
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NETWORTH |
2.571 |
2.156 |
1.621 |
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LOAN FUNDS |
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1] Secured Loans |
0.584 |
0.309 |
0.039 |
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2] Unsecured Loans |
2.119 |
1.886 |
2.199 |
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TOTAL BORROWING |
2.703 |
2.195 |
2.238 |
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DEFERRED TAX LIABILITIES |
0.006 |
0.000 |
0.000 |
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TOTAL |
5.280 |
4.351 |
3.859 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.058 |
2.886 |
2.522 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.100 |
0.100 |
0.100 |
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DEFERREX TAX ASSETS |
0.000 |
0.092 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
2.281
|
1.699 |
1.571 |
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Sundry Debtors |
1.353
|
1.138 |
1.008 |
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Cash & Bank Balances |
0.376
|
0.764 |
0.466 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
2.111
|
1.352 |
0.936 |
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Total
Current Assets |
6.121
|
4.953 |
3.981 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
3.999
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3.680 |
2.744 |
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Provisions |
0.000
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0.000 |
0.000 |
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Total
Current Liabilities |
3.999
|
3.680 |
2.744 |
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Net Current Assets |
2.122
|
1.273 |
1.237 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
5.280 |
4.351 |
3.859 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Sales Turnover |
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12.876 |
11.210 |
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Other Income |
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0.007 |
0.000 |
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Total Income |
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12.869 |
11.210 |
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Profit/(Loss) Before Tax |
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0.877 |
0.761 |
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Provision for Taxation |
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0.463 |
0.273 |
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Profit/(Loss) After Tax |
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0.414 |
0.488 |
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Expenditures : |
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Administrative Expenses |
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9.451 |
8.285 |
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Raw Material Consumed |
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2.163 |
1.509 |
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Increase/(Decrease) in Finished Goods |
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(0.313) |
(0.054) |
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Interest |
|
0.318 |
0.347 |
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Depreciation & Amortization |
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0.385 |
0.360 |
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Other Expenditure |
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0.012 |
0.056 |
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Total Expenditure |
|
11.992 |
10.449 |
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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 |
(%) |
3.22
|
4.35 |
-- |
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Net Profit Margin (PBT/Sales) |
(%) |
6.81
|
6.79 |
-- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
6.81
|
6.79 |
-- |
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Return on Investment (ROI) (PBT/Networth) |
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0.34
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0.35 |
-- |
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Debt Equity Ratio (Total Liability/Networth) |
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1.55
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1.71 |
1.69 |
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Current Ratio (Current Asset/Current Liability) |
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2.88
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1.34 |
1.45 |
LOCAL AGENCY
FURTHER INFORMATION
Table
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Parameters |
Details |
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Statutory Approvals |
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Income Tax Registration (PAN) |
AAACC8042R |
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Central Sales Tax Registration |
KR – 5400692 / ST – 12 |
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VAT /TIN Registration |
09742800214 |
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Import Export Code |
0601001591 |
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Name of Bank |
Bank of Baroda |
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Current Account Number |
Cash Credit Account No – 25770500001487 |
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Account Since |
15 Years |
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Emp of Registration Number |
UP / 17951 |
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Company ESI Reg. Number |
21 – 11131 - 67 |
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Credibility Factors |
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India Mart Client Since |
2 Years |
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Trade Affiliations |
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SSI Registration |
YES |
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Export Promotion Council |
No |
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Chambers of Commerce Membership |
No |
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Standards and Certifications |
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Quality management Systems |
No |
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Environment Management Systems |
No |
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Safety Certificates |
No |
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Product Certificates |
No |
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Other Certificates |
No |
Trade References
v Cera Saintaryware Limited (Kadi – Gujarat)
v Modern Insulators Limited (Abu Road)
v Sarvana Insulators Limited (Cudallore) (Tamilnadu)
Corporate Information:
The company was established in the year 1986 with the sole object for manufacturing
of complete range of screw pumps including single screw pump, twin screw pumps
and Multi screw pumps. Initially production of single Screw pump had been
started under the brand name 'HELICON PUMPS'. These pumps becomes very popular
within short period in almost of all industries due to its world class
quality/workmanship and trouble free working results.
Product Technology:
Helicon Single Screw Pumps are manufactured based on newly developed
progressive cavity technology which has made these pumps self priming/positive
displacement and non clogging in nature. Moreover these pumps work successfully
on negative suction upto 7 Mtr. Water column.
Manufacturing Facilities:
The workshop is fully equipped with sophisticated machines to carry the
precision turning required for manufacturing of Helicon Pumps.
Rubber Moulding Division:
Besides workshop they have well equipped Rubber Plant for
manufacturing Rubber parts Stator etc. The Rubber Plant is capable to
manufacture Nitrile/Neoperene/Hyplon/EPDM/Viton/Natural Rubber Stators as per
the standard specification.
Electroplating Division:
A well equipped Heat Treatment and Electroplating plant is also
working for developing require hardness in rotating parts and to carry out
electroplating on Rotor and Shaft in World Class specification.
Quality Control:
Helicon Pump tests has to pass through various quality control tests before the
same is rolled out from the works for despatch. The quality control division is
well equipped with sophisticated measuring and testing equipments to handle the
testing of pumps. The Regerous testing of pumps carried out at works ensure
trouble free working of pump at customers end.
Research & Development:
Helicon Research and development centre is engaged to develop pumping
specialities to work successfully for any specific requirement received from
customers.
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 :
The 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.
The 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. 42.89 |
|
UK Pound |
1 |
Rs. 84.84 |
|
Euro |
1 |
Rs. 67.61 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
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 |
|
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 |
|
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, they have no basis upon which to
recommend credit dealings |
No Rating |
|