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MIRA
INFORM REPORT
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Report Date : |
08.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
DELITE SYSTEMS ENGINEERING (INDIA) PRIVATE LIMITED |
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Registered Office : |
34, Guru Gobind Singh India Premises, Jay Coach, Goregaon (East),
Mumbai-400063, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
24.01.2003 |
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Com. Reg. No.: |
11-138837 |
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CIN No.: [Company
Identification No.] |
U31909MH2003PTC138837 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMD11242A |
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PAN No.: [Permanent
Account No.] |
AABCD8897Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Baggage Handling Systems |
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 1600 |
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Status : |
Small Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company in its field. Scale of activity
is limited. Trade relations are fair. Payments are usually made as per
commitments. The company can be considered good for small to mediocre business
dealings. |
LOCATIONS
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Registered Office/Factory : |
34, Guru Gobind Singh India Premises, Jay Coach, Goregaon (East),
Mumbai-400063, Maharashtra, India |
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Tel. No.: |
91-22-26856404/ 32520702/ 26858533 |
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Mobile No.: |
91-9820134070/ 9324191405 |
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Fax No.: |
91-22- 26866000 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Manish Dolatrai Sanghvi |
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Designation : |
Director |
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Date of Birth/Age : |
26.10.1970 |
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Date of Appointment : |
24.10.2003 |
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Name : |
Mrs. Purvi Manish Sanghvi |
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Designation : |
Director |
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Date of Birth/Age : |
16.07.1972 |
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Date of Appointment : |
24.04.2003 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Manish Dolatrai Sanghvi |
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5000 |
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Purvi Manish Sanghvi |
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5000 |
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Total |
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10000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2007
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Baggage Handling Systems |
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Products : |
·
Baggage Handling Systems ·
Material Handling Equipments ·
Belt Conveyors ·
Roller Conveyors ·
Overlapping Slat ·
Pallet Conveyors ·
Passengers Boarding Bridges (Aerobridges) and Spares ·
Ground Support Equipments (GSE) ·
Elevated Transfer Vehicles (ETV) ·
Trollies, Dollies ·
Special Trollies ·
Ball Transfer Units ·
Roller Decks ·
Lazy Dollies ·
Cold Storage and Refrigeration ·
Runway Lighting Accessories ·
CAT-I ·
CAT-II and CAT-III Systems ·
Core Cutting Machines ·
CCTV and PA Systems ·
Glow Sign Board Runways ·
Flight Information Display Systems ·
Hydraulic Ladders and Stackers ·
Motorised Roller Shutters |
GENERAL
INFORMATION
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Bankers : |
·
Bank of Maharashtra ·
ABN Amro Bank |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
N.P. Patwa and Company Chartered Accountant |
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Address : |
Office No. 4-B, 6th Floor, New Excelsior Theatre And Office
Premises Co- Operative Soceity, Wallace Street, Fort, Mumbai-400001,
Maharashtra, India |
CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/-
each |
Rs. 0.100
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 |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.235 |
0.063 |
0.031 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
0.335 |
0.163 |
0.131 |
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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 |
0.144 |
0.144 |
0.072 |
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TOTAL BORROWING |
0.144 |
0.144 |
0.072 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
0.479 |
0.307 |
0.203 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.041 |
0.000 |
0.000 |
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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 |
1.812
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3.938 |
0.000 |
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Sundry Debtors |
2.272
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0.020 |
2.829 |
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Cash & Bank Balances |
0.000
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0.000 |
0.013 |
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Other Current Assets |
0.345
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0.024 |
0.005 |
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Loans & Advances |
0.000
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0.000 |
0.000 |
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Total
Current Assets |
4.429
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3.982 |
2.847 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
3.971
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3.657 |
2.650 |
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Provisions |
0.030
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0.030 |
0.008 |
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Total
Current Liabilities |
4.001
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3.687 |
2.658 |
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Net Current Assets |
0.428
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0.295 |
0.189 |
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MISCELLANEOUS EXPENSES |
0.010 |
0.012 |
0.014 |
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TOTAL |
0.479 |
0.307 |
0.203 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover |
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5.006 |
1.031 |
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Other Income |
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0.000 |
0.759 |
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Total Income |
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5.006 |
1.790 |
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Profit/(Loss) Before Tax |
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0.243 |
0.063 |
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Provision for Taxation |
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0.072 |
0.031 |
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Profit/(Loss) After Tax |
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0.171 |
0.032 |
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Expenditures : |
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Financial Charges |
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0.002 |
0.001 |
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Depreciation & Amortization |
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0.012 |
0.000 |
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Other Expenditure |
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4.749 |
1.726 |
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Total Expenditure |
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4.763 |
1.727 |
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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 |
(%) |
3.42
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1.79 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
4.85
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6.11 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
5.44
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1.58 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.73
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0.39 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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12.37
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23.50 |
20.84 |
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Current Ratio (Current Asset/Current Liability) |
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1.11
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1.08 |
1.07 |
LOCAL AGENCY
FURTHER INFORMATION
The Registered Address of the company has been shifted from 6, Jully
Centre 2nd Floor, Tilak Road, Santacruz, Mumbai-400054, Maharashtra,
India to present address w.e.f 01.11.2006
AS PER WEBSITE
Profile:
Delite Engineers (unit of DELITE SYSTEMS ENGINEERING (INDIA)
PRIVATE LIMITED) is an engineering firm located in Mumbai, which
is a Registered Company under Small Scale Industry. Moreover, it is also a
Government Approved Licensed Electrical Contractor and that's why got pride to
get registered with various companies including Airports Authority of India as Mechanical and Electrical contractors.
The company came into existence in early 70's and undertook manufacturing and works of Various
Industries and Airports all over India.
Due to the strong Engineering, Designs and Field Support
Activities, they have installed various equipments such as Aerobridges,
Baggage Handling Systems, Material Handling Systems, Runway Lighting, etc. and
gained wide acceptance with the various esteemed clients. The company is widely
into manufacturing following equipments:
Baggage Handling Systems, Material Handling Equipments, Belt Conveyors, Roller
Conveyors, Overlapping Slat and Pallet Conveyors, Passengers Boarding Bridges
(Aerobridges) and Spares, Ground Support Equipments (GSE), Elevated Transfer
Vehicles (ETV), Trollies, Dollies, Special Trollies, Ball Transfer Units,
Roller Decks, Lazy Dollies, Cold Storage and Refrigeration, Runway Lighting
Accessories, CAT-I, CAT-II and CAT-III Systems, Core Cutting Machines, CCTV
& PA Systems, Glow Sign Board Runways, Flight Information Display Systems,
Hydraulic Ladders & Stackers, Motorised Roller Shutters etc.
Today, They have grown all over India for the various
quality products and prompt services offered with a strong commitment to Quality and Standards. The production
unit possesses highest quality and reliability of machines and equipments to
perform all kinds of works and to cater to the fabrication and manufacturing of
components, machinery and complete system solutions to all the clients.
They have a strong workforce of dedicated and skilled staff
to handle any kind of tough assignments and challenges. The staff is available
at all major Cities such as Delhi,
Chennai, Mumbai and Kolkata on round the clock basis for immediate and
quick service to important installations of its own and other companies all
over India.
The commitment towards quality and work has enabled them to
bag an impressive list of customers:
·
Airports Authority of India (International Airports
Division)- New Delhi, Mumbai, etc.
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Airports Authority of India (National Airports Division)-
Goa, Ahemdabad, etc.
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Larsen & Toubro Limited
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Philips (India) Limited
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Air India Limited
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Johnson and Johnson Limited
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AFCONS
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Post and Telegraph Department etc.
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.48.01 |
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UK Pound |
1 |
Rs.84.16 |
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Euro |
1 |
Rs.65.20 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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30 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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