MIRA
INFORM REPORT
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Report Date : |
20.10.2008 |
IDENTIFICATION DETAILS
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Name : |
NUBERG ENGINEERING LIMITED |
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Registered Office : |
1223, Gali No. 83, Shanti Nagar, Trinagar, |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
21.06.1996 |
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Com. Reg. No.: |
55-079817 |
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CIN No.: [Company
Identification No.] |
U74210DL1996PLC079817 |
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IEC No.: |
0596049480 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELN02816C |
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PAN No.: [Permanent
Account No.] |
AAACN3523A |
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Legal Form : |
A Closely held Public Limited Company |
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Line of Business : |
Manufacturer and Exporter of Nitrogen Gas Generators, Various Pressure
Vessels, Reactors, Absorbers, Columns, Heat Exchangers, Tanks, etc. |
RATING & COMMENTS
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MIRAs 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 165000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track
records. Trade relations are fair. Financial position is satisfactory.
Payments are reported as slow but correct. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
1223, Gali No. 83, Shanti Nagar, Trinagar, |
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E-Mail : |
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Website : |
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Area : |
300 sq meters |
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Location : |
Owned |
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Corporate Office : |
Nuberg House, A 38H, Sector 64, Noida 201 301, |
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Tel. No.: |
91-120-2403101/ 2403102/ 2403103 |
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Fax No.: |
91-120-2403104 |
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Area : |
960 sq meters |
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Location : |
Owned |
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Factory1 : |
D 29, Phase II, Extension, Noida 201 301, |
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Area : |
1000 sq meters |
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Location : |
Owned |
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Factory2 : |
D 7, Phase II, Extension, Noida 201 301, |
DIRECTORS
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Name : |
Mr. Anil Kumar Tyagi |
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Designation : |
Managing Director |
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Address : |
B 104, Sector 39, Noida 201 301, |
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Date of Birth/Age : |
05.03.1960 |
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Qualification : |
B. Tech. |
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Date of Appointment : |
21.06.1996 |
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Name : |
Mr. Vinod Kumar Gupta |
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Designation : |
Managing Director |
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Address : |
D 44, Sector 39, Noida 201 301, |
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Date of Birth/Age : |
24.08.1960 |
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Qualification : |
B. Tech. |
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Date of Appointment : |
21.06.1996 |
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Name : |
Mr. Shashi Tyagi |
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Designation : |
Director |
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Address : |
B 104, Sector 39, Noida 201 301, |
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Date of Birth/Age : |
11.03.1959 |
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Qualification : |
Non-Tech. |
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Date of Appointment : |
01.04.2005 |
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Name : |
Mrs. Sugandha Gupta |
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Designation : |
Director |
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Address : |
D 44, Sector 39, Noida 201 301, |
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Date of Birth/Age : |
12.10.1958 |
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Qualification : |
Non-Tech. |
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Date of Appointment : |
01.04.2005 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2005
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Names of Shareholders |
No. of Shares |
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Mr. Anil Kumar Tyagi |
119900 |
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Mr. Vinod Kumar Gupta |
119900 |
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Mr. Sandeep Tyagi |
100 |
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Mr. R.D. Gupta |
100 |
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Mr. Rama Gupta |
100 |
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Mr. Shashi Tyagi |
100 |
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Mrs. Sugandha Gupta |
100 |
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Mr. Subodh Tyagi |
100 |
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Total |
240400 |
As on 29.09.2007
Equity share breakup (percentage of total equity)
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Category |
Percentage |
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Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Nitrogen Gas Generators, Various Pressure
Vessels, Reactors, Absorbers, Columns, Heat Exchangers, Tanks, etc. |
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Products : |
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Exports : |
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Products : |
Nitrogen Gas Generators, Various Pressure Vessels, Reactors, Columns,
etc. |
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Countries : |
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Imports : |
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Products : |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
GENERAL INFORMATION
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Customers : |
Manufacturers and Industries |
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No. of Employees : |
150 |
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Bankers : |
Union Bank of |
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Facilities : |
CC Rs.70.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Vinay Prakash and Company Chartered Accountants |
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Address : |
58 A Block Shopping Complex, Naraina Vihar, New Delhi 110 028,
India. |
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs.10/- Each |
Rs.10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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961600 |
Equity Shares |
Rs.10/- Each |
Rs.9.616 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
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Particulars |
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31.03.2008 |
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Sales Turnover (Estimated) |
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260.000 |
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Expected Sales (2008-09) : Rs.700.000 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 |
9.616 |
4.808 |
2.404 |
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2] Share Application Money |
0.000 |
0.000 |
0.050 |
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3] Reserves & Surplus |
23.451 |
11.996 |
12.914 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
33.067 |
16.804 |
15.368 |
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LOAN FUNDS |
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1] Secured Loans |
47.597 |
18.559 |
7.321 |
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2] Unsecured Loans |
4.900 |
8.061 |
9.363 |
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TOTAL BORROWING |
52.497 |
26.620 |
16.684 |
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DEFERRED TAX LIABILITIES |
0.699 |
0.386 |
0.485 |
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TOTAL |
86.263 |
43.810 |
32.537 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
15.513 |
12.785 |
8.497 |
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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 |
12.040
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8.114 |
10.580 |
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Sundry Debtors |
80.742
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53.909 |
12.720 |
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Cash & Bank Balances |
14.278
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4.923 |
16.785 |
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Other Current Assets |
17.575
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9.952 |
6.445 |
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Loans & Advances |
7.676
|
5.160 |
2.507 |
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Total
Current Assets |
132.311
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82.058 |
49.037 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
56.166
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49.223 |
23.336 |
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Provisions |
5.430
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1.858 |
1.663 |
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Total
Current Liabilities |
61.596
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51.081 |
24.999 |
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Net Current Assets |
70.715
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30.977 |
24.038 |
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MISCELLANEOUS EXPENSES |
0.035 |
0.048 |
0.002 |
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TOTAL |
86.263 |
43.810 |
32.537 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
322.786 |
119.338 |
135.461 |
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Other Income |
18.617 |
8.304 |
12.248 |
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Total Income |
341.403 |
127.642 |
147.709 |
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Profit/(Loss) Before Tax |
22.006 |
2.104 |
5.080 |
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Provision for Taxation |
(1.445) |
(9.892) |
(7.834) |
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Profit/(Loss) After Tax |
23.451 |
11.996 |
12.914 |
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Export Value |
216.340 |
67.889 |
58.312 |
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Import Value |
14.984 |
8.903 |
7.989 |
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Expenditures : |
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Raw Material Consumed |
248.703 |
91.049 |
103.956 |
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Manufacturing Expenses |
27.554 |
15.378 |
18.209 |
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Personnel Expenses |
11.214 |
6.324 |
3.856 |
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Administrative and Selling Expenses |
24.776 |
10.962 |
11.966 |
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Increase/(Decrease) in Finished Goods |
2.471 |
(1.158) |
2.120 |
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Financial Charges |
3.681 |
2.159 |
1.871 |
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Depreciation & Amortization |
0.998 |
0.824 |
0.651 |
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Total Expenditure |
319.397 |
125.538 |
142.629 |
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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 |
(%) |
6.87
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9.40 |
8.74 |
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Net Profit Margin (PBT/Sales) |
(%) |
6.82
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1.76 |
3.75 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
14.89
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2.22 |
8.83 |
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Return on Investment (ROI) (PBT/Networth) |
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0.67
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0.13 |
0.33 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.45
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4.62 |
2.71 |
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Current Ratio (Current Asset/Current Liability) |
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2.15
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1.61 |
1.96 |
LOCAL AGENCY FURTHER INFORMATION
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Additional
Requirement of Indiamart for Trust-Seal |
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Service Tax No. : AAACN3523A ST 001 |
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Excise Registration No.: AAACN3523A XM
001 |
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VAT / TIN : 09166202351 |
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IEC Code : 0596049480 |
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PAN / TAN : AAACN3523A |
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Bank Name : Union Bank of |
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Bank Address : SSI Branch, Noida |
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Account Since : 10
Years |
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In case of any affiliations / memberships / certifications
: |
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Name : ISO 9001 :
2000 |
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U74210DL1996PLC079817 |
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Name of the
company |
NUBERG ENGINEERING LIMITED |
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Address of the
registered office or of the principal place of business in |
1223, Gali No. 83, Shanti Nagar, Trinagar, |
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Type of charge |
Immovable
Property Book Debts |
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Particular of
charge holder |
Union Bank of E-Mail: noida@delro.unionbank.com |
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Nature of
description of the instrument creating or modifying the charge |
Memorandum of Entry
dated 26.12.2006. Composite Hypothecation Deed (SD-20) with Cash Credit
(Hypothecation) Limit of Rs.10.000 Millions, Packing Credit under LC Limit of
Rs.25.000 Millions, FDBP under LC Limit of Rs.25.000 Millions and Letter of
Guarantee of Rs.10.000 Millions dated 04.01.2007. |
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Date of
instrument Creating the charge |
26.12.2006 |
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Amount secured by
the charge |
Rs.70.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
Cash Credit (Hypothecation) Limit with ROI of BPLR+1%, Packing Credit under
LC Limit with ROI of BPLR 4%, FDBP under LC Limit with ROI of BPLR 4% and
Letter of Guarantee with ROI as usual. Terms of
Repayment: Repayable on demand Margin: 25% in
case of Cash Credit, Packing Credit, Letter of Guarantee and Nil in case of
FDBP. Extent and
Operation of the charge: To the extent of Rs.70.000 Millions till repayable
of all dues. |
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Short particulars
of the property charged |
Companys Land and Immovable Property situated at Plot No.29 and 7,
Block D, Phase II Extension, Noida including Plant and Machinery,
Constructed/ Erected or Installed thereon, both present and future. All Plant
and Machinery, Furniture and other accessories lying in Plot No.29, Block D,
Phase II Extension, Noida together with Raw Materials, Semi finished and
Finished goods, Stores and Spares brought into or stored in the said premises
and also Book debts whether present or future. |
TRADE REFERENCES:
- M/s JBF Industries Limited
- M/s Indo Poly (
- M/s Century Enka Limited
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
1] INFORMATION ON
DESIGNATED PARTY
No records exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction registered
against subject: None
5] on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Intl
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 companys 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.48.68 |
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|
1 |
Rs.84.37 |
|
Euro |
1 |
Rs.65.70 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
54 |
This score serves as a reference to assess SCs 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 |
|