MIRA
INFORM REPORT
|
Report Date : |
04.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
MCM WORLDWIDE PRIVATE LIMITED |
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Registered Office : |
9, Sainik Farms, Lane C-3, Khanpur, New Delhi – 110 062, |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
31.07.1997 |
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Com. Reg. No.: |
55-88844 |
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CIN No.: [Company
Identification No.] |
U51109DL1997PTC088844 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELM05795G |
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PAN No.: [Permanent
Account No.] |
AAACM8122A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Providing Trenchless Technology Services. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Maximum Credit Limit : |
USD 9500 |
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Status : |
Small Company |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company in its field. Trade relations
are fair. Scale of activity is limited. Payments are however reported as
usually correct and as per commitments. The company can be considered good for small to mediocre business
dealings. |
LOCATIONS
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Registered Office : |
9, Sainik Farms, Lane C-3, Khanpur, New Delhi – 110 062, India |
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Tel. No.: |
91-11-29552781 / 29511472 |
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Fax No.: |
91-11-29511707 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Mohinder Kumar Verma |
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Designation : |
Director |
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Address : |
9, Sainik Farms, Lane C-3, Khanpur, New Delhi – 110 062, Delhi, India |
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Date of Birth/Age : |
02.11.1961 |
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Date of Appointment : |
05.12.2000 |
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Name : |
Mr. Rohit Verma |
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Designation : |
Director |
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Address : |
E-13, Pushpanjali Farms, Bijwasan, New Delhi – 110 061, India |
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Date of Birth/Age : |
27.09.1984 |
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Date of Appointment : |
30.12.2004 |
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Name : |
Mr. Chander Verma |
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Designation : |
Director |
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Address : |
E-13, Pushpanjali Farms, Bijwasan, New Delhi – 110 061, India |
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Date of Birth/Age : |
22.09.1956 |
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Date of Appointment : |
29.08.1997 |
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Name : |
Mr. Madhu Verma |
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Designation : |
Director |
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Address : |
E-13, Pushpanjali Farms, Bijwasan, New Delhi – 110 061, India |
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Date of Birth/Age : |
12.08.1960 |
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Date of Appointment : |
10.10.1997 |
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Name : |
Mr. Puran Anand Kapur |
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Designation : |
Director |
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Address : |
661, Sector 15, Faridabad, Haryana – 121 007, Punjab, India |
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Date of Birth/Age : |
03.09.1932 |
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Date of Appointment : |
10.10.1997 |
KEY EXECUTIVES
|
Name : |
M/s Soumendra and Associates |
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Designation : |
Company Secretary |
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Address : |
Flat No. 93C, DDA Flats, Pocket-II, Sector-VI, Dwarka, New Delhi – 110
075, India |
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Mobile No.: |
91-9810405481, 987192615 |
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Email : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.03.2007)
|
Names of Shareholders |
No. of Shares |
|
Verma Akhil |
7500 |
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K C Verma (HUF) |
74000 |
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Verma Kumar Mohinder |
5000 |
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Verma Rohit |
7500 |
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Kanpur A P |
1000 |
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Shaina Verma |
5000 |
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Total |
100000 |
Equity shares Breakup (percentage of total equity)
(As on
29.09.2007)
|
Category |
Percentage |
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Directors or relatives of directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Providing Trenchless Technology Services. |
GENERAL
INFORMATION
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Bankers : |
State Bank of Hyderabad |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
S Ramachandra Bhat Chartered Accountants |
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Address : |
4837, Gobind Lane, 24 Ansari Road, New Delhi – 110 002, Delhi, India |
CAPITAL STRUCTURE
(As on 29.09.2007)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
1.000 |
1.000 |
1.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.903 |
0.580 |
0.426 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.903 |
1.580 |
1.426 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1.903 |
1.580 |
1.426 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.359 |
0.032 |
0.005 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
1.026
|
0.000 |
0.000 |
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Sundry Debtors |
3.929
|
0.198 |
0.122 |
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Cash & Bank Balances |
1.388
|
1.706 |
1.353 |
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Other Current Assets |
0.000
|
0.029 |
0.000 |
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Loans & Advances |
0.651
|
0.363 |
0.062 |
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Total
Current Assets |
6.994
|
2.296 |
1.537 |
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|
Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
5.009
|
0.570 |
0.045 |
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Provisions |
0.441
|
0.183 |
0.080 |
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Total
Current Liabilities |
5.450
|
0.753 |
0.125 |
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Net Current Assets |
1.544
|
1.543 |
1.412 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.005 |
0.009 |
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TOTAL |
1.903 |
1.580 |
1.426 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
2.934 |
0.000 |
0.000 |
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Other Income |
6.364 |
2.341 |
0.614 |
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Total Income |
9.298 |
2.341 |
0.614 |
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Profit/(Loss) Before Tax |
0.590 |
0.267 |
0.196 |
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Provision for Taxation |
0.267 |
0.113 |
0.080 |
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Profit/(Loss) After Tax |
0.323 |
0.154 |
0.116 |
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Expenditures : |
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Financial charges |
0.003 |
0.000 |
0.000 |
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Depreciation & Amortization |
0.083 |
0.031 |
0.003 |
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Other Expenditure |
8.622 |
2.043 |
0.415 |
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Total Expenditure |
8.708 |
2.074 |
0.418 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
3.47
|
6.58 |
18.89 |
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Net Profit Margin (PBT/Sales) |
(%) |
20.11
|
0.00 |
0.00 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
8.02
|
11.47 |
12.71 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.31
|
0.17 |
0.14 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.86
|
0.48 |
0.09 |
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Current Ratio (Current Asset/Current Liability) |
|
1.28
|
3.05 |
12.30 |
LOCAL AGENCY
FURTHER INFORMATION
Web Details
Introduction
One
of the main objectives of subject is to establish, provide, maintain, and administer
in India or any part of the World, education and training institutions and to
enter into arrangement with government or any other such party for the
aforesaid purposes.
Subject
has been authorized by the Construction Industry Development Council (CIDC) to
act as a partner institution for the training, testing and certification of
workmen in various civil, electrical, mechanical and maintenance trades as well
as for operation of construction plants and equipment.
Subject
jointly with CIDC has started 6-months vocational training courses for students
from rural and semi-urban areas in various trades to meet the increasing demand
of the construction industry.
Subject
has also taken up the task of up-gradation of knowledge and latest trends for
construction managers. In this direction, focused Quality Improvement and
Executive Development Programmes are being offered.
Subject
jointly with CIDC and Indira Gandhi Open University (IGNOU) have started a
diploma programme in civil engineering to give an opportunity to the educated
workmen to further upgrade their knowledge to enable them to get promoted to
the next level of managerial cadre.
Subject
alongwith CIDC have taken up the task of development of cost indices, creating
and updating of cost data base and costing software as per the specific
requirement of ONGC as well as other public sector undertakeings.
Subject
has signed a Memorandum of Understanding with ICMQ S.p.A of Italy for providing
certification services for management system (quality, environmental, health
and safety) to entities working in the infrastructure and building trade.
Subject
is representing TT-UK Limited in India and the Saarc region for sale and
service of various TT Group products required for trenchless pipe installation/
renewal for underground installation of pipes and cables.
Subject
is also representing sales and after sales service of Hanwoo Hydralyic Hammers.
Infrastructure
Adequate infrastructure facilities, including but not limited to machine shop,
engine repair shop, battery charging and replating shop, denting and painting
shop, soil and concrete testing laboratory, office and open areas for providing
training and certification on repairing and operation of equipment are
available. Facilities are also available for training and certification of
carpenters, barbinders, masons, plumbers, welders, electricians, auto
electricians etc.
Earthmoving machinery and cranes of various sizes and types, mechanized
concrete placement equipment like concrete pumps, batching and mixing plants,
crushing and screening plants, ice plants etc. are also available at various
construction sites for imparting training to the workmen.
Products for
Trenchpless pipe Installation and Renewal
As a leading manufacturer of trenchless technologies, Tracto-Technik
(TT) develops and produces boring systems for the underground installation and
renewal of pipes. The TT product range comprises individual solutions for all
trenchless installation and renewal techniques.
Soil Displacement Technique
Soil displacement technique-
The soil displacement hammer is driven by compressed air at a pressure
of 7 bar. A cylinder-shaped piston drives the casing through soil and rocks and
displaces it creating a stable soil tunnel. The pipe (protection or product pipe)
is pulled in at the same time - either as a short pipe or directly from the
pipe coil. Groundomat soil displacement hammers can be controlled, but not
steered.
(First steerable soil displacement hammer) Steerable soil displacement
hammer Grundosteer (first steerable soil displacement hammer) The steerable
soil displacement hammer Grundosteer is suitable for lengths up to 70 m, which
by using a detection and steering system, can avoid any underground obstacles
and depending on ground conditions, can carry out steered bores with a minimal
radius of 27 meters. This is a dry boring method, which is mainly used over
long and blind house-connections.
Specifics
• applicable for all soil conditions except for mud, marshes and
nondisplaceable solid rock
• they recommend the guided mole Grundosteer for blind bores up to 60 m
Grundoram - Pipe Rammers
Ramming technique-
Without abutment, the open steel pipes are pushed forward with dynamic
ramming energy. The soil gathering in the pipe is pressed or bored out with air
and/or water after installation. The installation lengths depend on the soil
conditions and the pipe OD. Rule-of-thumb: installation length = pipe Ř x 100
(i.e. pipe Ř ND 400 = 40 m)
Specifics
• applicable in all soil conditions except for mud, marshes and non
displaceable solid rock
• high precision; thrust can be controlled, but is not steerable
• acknowledged technique, Ruhrgas: Rating recommendable”. “
• no measures are required for keeping the front pit wall fromcollapsing
• no risk of ground subsidence
• no press abutment required
Grundoburst - Static Pipe Bursting
Static pipe bursting
The bursting, displacing and pipe pulling forces of the hydraulic thrust
and pull rig Grundoburst are transmitted via the patented rods. Static pipe
bursting can be applied straight from the pipe coil for defective inliners and
for pulling in pressure pipes. The system is surprisingly simple.
Specifics
• Multiple use of Grundoburst for:
- short or long pipe bursting
- pipe replacement (pipe extraction)
- swagelining measures
- pipe lining and cleaning
• Application from pit to pit (TIP)
Grundocrack - Dynamic Pipe Bursting
Dynamic pipe bursting technique
The old pipe is destroyed with the help of a bursting device and
radially displaced into the surrounding soil. Brittle materials are shattered,
tough materials are cut open. At the same time, a new product or host pipe of
the same or larger diameter is pulled in. The ramming force for the bursting
and pulling in process is supported by the pulling force of a winch.
Specifics
• favourable for old pipes made of brittle materials (stoneware, concrete, cast
iron, asbestos cement)
• the gradient of the old pipe must be usable for the new line
• side branches/bends require intermediate pits
• distance to other existing lines nearby: 2-3 x old pipe Ř
• the cover depends on the diameter of the new pipe
Grundodrill - Hdd Technique
HDD technique-
When applying the HDD technique the pipe installation process is divided
into the following working steps:
- Establishing
of the three-dimensionally controlled pilot bore from the drill rig to
bore exit side (directional bore)
- Upsizing of
the bore hole to the required diameter while pulling back the drill rods
and simultaneously pulling in the new pipe. The drilling fluid
(water/Bentonite) plays an important part in a successfully executed
installation. It helps to extract the soil, transportsthe soil to the
outside and provides a supportive gliding quality. The drilling fluid is
also responsible for wear reduction and lubrication of the drilling tools.
The drill rig transfers the pressure and pulling forces as well as the
torque onto the bore head via the bore string.
Specifics
To overcome high soil-mechanical resistance great static thrust forces are
necessary - Grundodrill rigs “outsmart” this resistance with additionally
available dynamic ramming energy supplied by the percussive hammer. Special
sondes can indicate a gradient in steps of 0.1%, thus enabling the installation
of gravity pipes with a gradient of 2% in good soils.
Sale and Service of Trenchless Technology Machinery and Equipment
Subject is representing TT-UK Limited in India and the Saarc region for sale and service of various TT Group products like Grundomat, Grundoram, Grundocrack, Grundopit, Grundosteer, Grundowinch, Grundodrill etc. required for trenchless pipe installation/ renewal for underground installation of pipes and cables.
Role Of MCM
An acute shortage of trained workmen and operators is being felt due to increased tempo of construction. There is thus a need to improve quality, speed, efficiency and economy in construction which can only be achieved if properly trained personnel are available for performing their multifarious functions. As such, training and HRD in the construction sector assumes vital importance. Subject has accordingly, started training programmes in the following construction trades:
Tradesmen
◊ Electrician
◊ Electrical Wireman
◊ Auto Electrician
◊ Welder
◊ Plumber
◊ Carpenter
◊ Barbinder
◊ Mason etc.
◊ Fitter
- Structural
- General
◊ Mechanic
- Automobile
/Light Vehicles
- Earthmoving
Equipment
- Plants
(Batching, Crushing etc.)
◊ Machinist
- Rigger /
Khalasi
- Denter /
Painter
◊ Laboratory
Assistant
Operators
·
Tower Crane
·
Mobile / Crawler Crane
·
Mechanized Paver
·
Dozer
·
Motor Grader
·
Loader
·
Excavator / Shovel
·
Vibratory Roller
·
Truck / Tipper I Dumper
·
Trailer
·
Transit Mixer
·
Concrete Pump
·
Wagon / Track Drill
·
Batching and Mixing Plant
·
Crushing and Screening Plant
·
Ice Plant
A Diploma programme in
civil engineering has also been started in collabration with CIDC and IGNOU to
enable the workmen to further upgrade their knowledge and skills and to give
them an opportunity to further enhance their prospects in the construction
industry.
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. 46.88 |
|
UK Pound |
1 |
Rs. 82.97 |
|
Euro |
1 |
Rs. 64.99 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
31 |
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 |
|