MIRA
INFORM REPORT
|
Report Date : |
31.05.2008 |
IDENTIFICATION
DETAILS
|
Name : |
COMBINE ELEC-MECH ENGINEERS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
H -38/B, Kalkaji, New Delhi – 110 019 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Date of Incorporation : |
23.06.2004 |
|
|
|
|
Com. Reg. No.: |
55-127094 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U31909DL2004PTC127094 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELC07439F |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of Super Silent Sound Control Canopies, Acoustic Enclosures, Acoustic Sound
Proof Canopies, Acoustic Enclosures |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 7000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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. |
LOCATIONS
|
Registered Office / Factory : |
H -38/B, Kalkaji, New Delhi – 110 019, India |
|
Tel. No.: |
91-11-26324289 / 26439192/ 26311213 / 41802059 |
|
Mobile No.: |
91-9810377333 |
|
Fax No.: |
91-11-26311213 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
|
Name : |
Mr. Satish Kumar Saini |
|
Designation : |
Director |
|
Address : |
H -38 B, Kalkaji Delhi – 110 019, India |
|
Date of Birth/Age : |
22.07.1949 |
|
Date of Appointment : |
23.06.2004 |
|
|
|
|
Name : |
Mr. Pawan Saini |
|
Designation : |
Director |
|
Address : |
H -38 B, Kalkaji Delhi – 110 019, India |
|
Date of Birth/Age : |
09.03.1979 |
|
Date of Appointment : |
23.06.2004 |
|
|
|
|
Name : |
Mr. Anuj Saini |
|
Designation : |
Director |
|
Address : |
H -38 B, Kalkaji Delhi – 110 019, India |
|
Date of Birth/Age : |
01.10.1981 |
|
Date of Appointment : |
23.06.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders (as on 31.03.2007) |
|
No. of Shares |
|
Mr. Satish Jain |
|
500 |
|
Mr. Pawan Kumar |
|
500 |
|
Mr. Anuj Saini |
|
500 |
|
|
Total
|
1500 |
Equity Shares Breakup (Percentage of Total Equity): as on 31.03.2007:-
|
Sr No. |
Category |
Percentage |
|
1 |
Directors or relative of directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Super Silent Sound Control Canopies, Acoustic Enclosures, Acoustic
Sound Proof Canopies, Acoustic Enclosures |
|
|
|
|
Products & Services : |
·
Annual maintenance contracts of power gen sets ·
Operation and maintenance of gen sets ·
Property management (mechanical and electrical) ·
Shifting of diesel generator sets ·
Supply, installation, testing and commissioning of
D.G. sets ·
Repairing and major overhauling of all makes of D.G.
sets ·
Servicing / repairing of all imported and Indian branded
D.G. sets ·
Servicing / repairing automatic voltage regulators
(AVR) ·
Super silent sound control canopies ·
Acoustic treatment of D.G. room ·
Existing sets can be converted into sound proofs ·
Tailor made design to suite your requirement ·
Ducting and gliding ·
Supply and maintenance of LT control and distribution
panels ·
Supply branded AVRs as per customer requirement. |
GENERAL
INFORMATION
|
Bankers : |
· Oriental Bank of commerce · ICICI Bank · IDBI |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Mr. Amit Arora Chartered Accountants |
|
Address : |
3741, 2nd Floor, Priya Hotel Building, Netaji Subhash Marg,
Daryaganj, Delhi – 110 002, India |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
(As on 31.03.2007):-
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs. 100/- each |
Rs. 1.000 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1500 |
Equity Shares |
Rs. 100/-
each |
Rs. 0.150
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.150 |
0.150 |
0.150 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1.557 |
0.740 |
0.354 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1.707 |
0.890 |
0.504 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1.432 |
0.235 |
0.052 |
|
|
2] Unsecured Loans |
0.006 |
0.063 |
0.002 |
|
|
TOTAL BORROWING |
1.438 |
0.298 |
0.054 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.015 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
3.145 |
1.203 |
0.558 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.027 |
0.388 |
0.076 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.003 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1.976
|
0.698 |
0.316 |
|
|
Sundry Debtors |
7.127
|
5.088 |
2.268 |
|
|
Cash & Bank Balances |
0.524
|
1.104 |
0.664 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.730
|
0.914 |
0.139 |
|
Total
Current Assets |
10.357
|
7.804 |
3.387 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
7.766
|
6.740 |
2.961 |
|
|
Provisions |
0.504
|
0.291 |
0.000 |
|
Total
Current Liabilities |
8.270
|
7.031 |
2.961 |
|
|
Net Current Assets |
2.087
|
0.773 |
0.426 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.028 |
0.042 |
0.056 |
|
|
|
|
|
|
|
|
TOTAL |
3.145 |
1.203 |
0.558 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
|
27.816 |
21.759 |
|
|
Other Income |
|
0.000 |
0.000 |
|
|
Total Income |
|
27.816 |
21.759 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
1.322 |
0.828 |
|
|
Provision for Taxation |
|
0.505 |
0.442 |
|
|
Profit/(Loss) After Tax |
|
0.817 |
0.386 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Financial Charges |
|
0.584 |
0.343 |
|
|
Depreciation & Amortization |
|
0.295 |
0.052 |
|
|
Other Expenditure |
|
25.615 |
20.536 |
|
Total Expenditure |
|
26.494 |
20.931 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
2.94
|
1.77 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.75
|
3.81 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.60
|
10.11 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.77
|
0.93 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.68
|
8.23 |
5.98 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.25
|
1.11 |
1.14 |
LOCAL AGENCY
FURTHER INFORMATION
WEBSITE DETAILS:
Subject is engaged
in providing various services in the fields of Repairing and Major Overhauling of all makes of D.G. Sets, Shifting of Diesel
Generator Sets, Supply, Installation, Testing and Commissioning of D.G. Sets, and
many other allied services. They have been able to satisfy their customer
time and again with their prompt and efficient services in and around
Gurgaon and Delhi. The company is also a renowned manufacturer and exporter
of super silent sound control canopies,
acoustic enclosures, acoustic sound proof canopies, acoustic enclosures for
diesel power generator set, acoustic DG room treatment products and exhaust pipe line.
They are empowered
with a pool of expert technocrats and all requisite technologies to execute
every task efficiently and perfectly. Their uncompromising attitude towards
quality, client satisfaction and on-time completion of the assigned task has
helped them to build a strong rapport in the market. With their wealth of
knowledge and experience, they are capable of providing services for all
the major imported brands like Detroit Diesel, Deutz, Skoda, Perkins, Volvo
Penta, Mir less, Man, Cummins, to name a few. Their expertise has been approved
by DPCC (Delhi Pollution Control Cell). They are regularly exporting their
spares, sound control canopies, etc. to various countries of the world
including USA, Middle East and European
countries.
Areas of Activity
They are a noted
technological concern offering variety of products and services to its clients.
They are basically involved in providing the following products and services:
·
Annual maintenance contracts of power gen sets
·
Operation and maintenance of gen sets
·
Property management (mechanical and electrical)
·
Shifting of diesel generator sets
·
Supply, installation, testing and commissioning of D.G.
sets
·
Repairing and major overhauling of all makes of D.G.
sets
·
Servicing / repairing of all imported and Indian
branded D.G. sets
·
Servicing / repairing automatic voltage regulators
(AVR)
·
Super silent sound control canopies
·
Acoustic treatment of D.G. room
·
Existing sets can be converted into sound proofs
·
Tailor made design to suite the requirement
·
Ducting and gliding
·
Supply and maintenance of LT control and distribution
panels
·
Supply branded AVRs as per customer requirement.
Mechanical Jobs
They also undertake
several mechanical job works. For this, they are associated with one of the
leading workshops in New Delhi. They provide any type of mechanical jobs
such as grinding of Crank shafts, Remetalling of bearings, Repairing of
Cylinder heads, Lub-oil pumps, Turbochargers.
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.42.59 |
|
UK Pound |
1 |
Rs.84.16 |
|
Euro |
1 |
Rs.65.99 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
--- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
|