MIRA
INFORM REPORT
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Report Date : |
06.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
CLEAR POINT INSTRUMENTATION PRIVATE LIMITED |
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Registered Office : |
227, Oshiwara Industrial Centre, Opp. Oshiwara Bus Depot, New Link
Road, Goregaon (West), Mumbai – 400 104, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
23.08.2002 |
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Com. Reg. No.: |
11-136957 |
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CIN No.: [Company
Identification No.] |
U31909MH2002PTC136957 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMC10718B |
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PAN No.: [Permanent
Account No.] |
AABCC8859R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Repairing and Maintenance of Sophisticated Electronic Equipments and
to provide them quality services. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 28000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company meeting its normal
commitments timeously. Trade relations are fair. Business is active. The company can be considered good for normal business dealings. |
LOCATIONS
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Registered Office : |
227, Oshiwara Industrial Centre, Opp. Oshiwara Bus Depot, New Link
Road, Goregaon (West), Mumbai – 400 104, Maharashtra, India |
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Tel. No.: |
91-22-28726753 |
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E-Mail : |
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Website : |
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Corporate Office : |
334, Oshiwara Industrial Centre, New Link Road, Goregaon (West),
Mumbai – 400 104, Maharashtra, India |
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Tel. No.: |
91-22-28792441 / 40107801 / 02 / 03 |
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Fax No.: |
91-22-28765663 |
DIRECTORS
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Name : |
Mr. Rajiv Hasmatrai Lilaramani |
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Designation : |
Managing Director |
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Address : |
504, Rose View, Opp. Playground, Gundavali, Andheri (East), Mumbsi – 400
069, Maharashtra, India |
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Date of Birth/Age : |
05.05.1968 |
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Date of Appointment : |
23.08.2002 |
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Name : |
Mrs. Bella Rajiv Lilaramani |
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Designation : |
Director |
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Address : |
504, Rose View, Opp. Playground, Gundavali, Andheri (East), Mumbsi –
400 069, Maharashtra, India |
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Date of Birth/Age : |
12.08.1970 |
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Date of Appointment : |
23.08.2002 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
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Names of Shareholders |
No. of Shares |
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Rajiv Hasmatrai Lilaramani |
10077 |
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Bella Rajiv Lilaramani |
500 |
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Total |
10577 |
Equity shares Breakup (percentage of total equity)
(As on 30.12.2007)
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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 : |
Repairing and Maintenance of Sophisticated Electronic Equipments and
to provide them quality services. |
GENERAL
INFORMATION
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Bankers : |
Centurion Bank of Punjab Limited 5359, Nicholson Road, Ambala Cantt – 133 001, Haryana, India (Now HDFC Bank) |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Vasant Agre Chartered Accountants |
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Address : |
11/B2, Sai Prasad, Telly Gully Cross Road, Andheri (East), Mumbai –
400 069, Maharashtra, India |
CAPITAL STRUCTURE
(As on 30.12.2007)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
45000 |
Equity Shares |
Rs.100/- each |
Rs.4.500 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10577 |
Equity Shares |
Rs.100/- each |
Rs.1.058
millions |
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 |
1.058 |
1.058 |
1.058 |
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2] Share Application Money |
1.368 |
1.368 |
0.168 |
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3] Reserves & Surplus |
3.142 |
2.257 |
1.818 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
5.568 |
4.683 |
3.044 |
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LOAN FUNDS |
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1] Secured Loans |
0.372 |
1.119 |
0.076 |
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2] Unsecured Loans |
3.508 |
3.445 |
2.481 |
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TOTAL BORROWING |
3.880 |
4.564 |
2.557 |
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DEFERRED TAX LIABILITIES |
0.264 |
0.376 |
0.371 |
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TOTAL |
9.712 |
9.623 |
5.972 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
5.174 |
5.679 |
5.432 |
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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 |
0.000
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0.000 |
0.000 |
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Sundry Debtors |
1.882
|
1.981 |
1.357 |
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Cash & Bank Balances |
0.401
|
0.557 |
0.061 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
4.855
|
4.210 |
3.469 |
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Total
Current Assets |
7.138
|
6.748 |
4.887 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
1.625
|
2.060 |
3.810 |
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Provisions |
0.975
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0.755 |
0.560 |
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Total
Current Liabilities |
2.600
|
2.815 |
4.370 |
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Net Current Assets |
4.538
|
3.933 |
0.517 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.011 |
0.023 |
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TOTAL |
9.712 |
9.623 |
5.972 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Sales Turnover |
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12.299 |
10.114 |
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Other Income |
|
0.000 |
0.000 |
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Total Income |
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12.299 |
10.114 |
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Profit/(Loss) Before Tax |
|
1.298 |
0.887 |
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Provision for Taxation |
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0.000 |
0.000 |
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Profit/(Loss) After Tax |
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1.298 |
0.887 |
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Expenditures : |
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Interest |
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0.152 |
0.120 |
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Depreciation & Amortization |
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0.770 |
0.764 |
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Other Expenditure |
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10.079 |
8.343 |
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Total Expenditure |
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11.001 |
9.227 |
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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 |
(%) |
10.55
|
8.77 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
10.55
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8.77 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
10.54
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7.14 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.23
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0.19 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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1.16
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1.58 |
2.28 |
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Current Ratio (Current Asset/Current Liability) |
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2.75
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2.40 |
1.12 |
LOCAL AGENCY
FURTHER INFORMATION
Form No. 8
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Corporate identity
number of the company |
U31909MH2002PTC136957 |
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Name of the
company |
CLEAR POINT INSTRUMENTATION PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
227, Oshiwara Industrial Centre, Opp. Oshiwara Bus Depot, New Link
Road, Goregaon (West), Mumbai – 400 104, Maharashtra, India |
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This form is for |
Creation of
charge |
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Type of charge |
·
Immovable
property ·
Others |
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Particular of
charge holder |
Centurion Bank of Punjab Limited 5359, Nicholson Road, Ambala Cantt – 133 001, Haryana, India |
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Nature of
instrument creating charge |
Memorandum of
Deposit for creation of mortgage (CBOP 15), Deceleration (CBOP 16) and
Confirmatory Letter (CBOP 17) |
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Date of
instrument Creating the charge |
29.07.2007 |
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Amount secured by
the charge |
Rs.7.500 millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
·
Rate of
interest NA ·
Terms of
repayment NA ·
Margin 25% for stocks and 30% for book debts ·
Extent and
operation of the charge 100% ·
Others NA |
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Particulars of
the property charged |
Equitable
mortgage of company’s property situated at 333, Oshiwara Industrial Area Goregaon
Mumbai for loan sanction to Mars Edpal Instrument Private Limited for
Rs.7.500 millions |
Web Details
Profile
Initially
established under the name of CLEAR POINT in the year 1992, a brain child of Mr.Rajiv
Lilaramani, an Electronic Engineer, who foresaw the need of the industries to
maintain highly sophisticated electronic equipments.
Comprehending issues
in regards to maintenance and repairs of advanced technologies in an in-house
environment and lack of a cost effective support system from Original
Equipments Manufacturers, form constraints for companies. Subject as a service
provider for over a decade to major Public and Private sector undertaking help
to by pass these very constraints and render quick and timely solutions.
The company over the
years has grown at a tremendous rate, almost 100 percent from 1992 to 2003.
CLEAR POINT turned into Subject in the year 2002.
As of March 2008 the
board of directors are Mr Rajiv Lilaramani and Mrs. Bella Lilaramani.
They Promise
- Comprehensive solutions to all your PCB related problems
- Quality output within minimum downtime
- Genuine workmanship at every stage of repair
- Post repair support to customer Home
Value and Objective
Value Statement
·
To treat each customer as our
core asset and provide them with innovative, qualitative, economical and time
bound solutions in all our actions.
·
To conduct business ethically
with single focus on optimum customer satisfaction and constant employee
motivation.
·
To encourage and motivate
employees towards two-way communication, constant knowledge updating, trust
building and teamwork exercise, so as to develop a personal sense of
responsibility amongst them, towards our customer.
·
To acquire and maintain high
standards of working culture in term of technical sophistication and strict
quality control.
Objective
·
To repair and maintain
sophisticated electronic equipments and to provide them quality services at
minimal cost
·
To constantly improve
facilities in our office premises in terms of technology up-gradation and
impart all necessary training to employees at CPIPL, from time to time.
·
To ensure exact diagnosis of
fault, suggest better solutions and provide continuous back-up for the advanced
electronics industry.
Industry Specifics
Petroleum and Petrochemicals
·
RTU’s, Analyzers
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Fire Alarm Systems and Smoke
Detector Systems
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UPS, Battery Charger
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Temperature Spread Monitors
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Gas Detection Systems
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DCS Systems
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Motorized Control Valves
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PLC’s Systems
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TG's and Compressors Controls
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Communication System
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Alarm Anunciators and Flow
Meters
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Environmental Monitoring
Systems
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Laboratory Equipments
- Pour Point Analyzers
- Gas Chromatographs
- Analyzers
- Conductivity Meters
CPIPL In Marine
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Satcoms
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Radars
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Engine Control
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Satellite Navigators
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Echo Sounders
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Gyro Systems
CPIPL In Power and Fertilizer Plants
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Battery Chargers and
Controllers
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Turbo Generator Controls
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PLC's
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DCS Systems
The Strength
The Expertise
·
A team of well qualified, experienced and dedicated engineers
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All engineers are equipped with adequate knowledge and machinery
to handle independent jobs.
The Infrastructure
State-of-Art
Laboratory
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Digital
·
Communication
·
Power
·
Calibration
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Dust free rooms
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Anti- Static accessories
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Latest Technology equipments
The Norms
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Economical cost of repairs
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Quality repairs
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Timely deliveries
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Safety and security regulation compliance
They provide
· Solutions for the replacement of obsolete instrumentation systems with State of the Art technology.
· System integration, erection and commissioning assistance for turnkey projects.
· Undertake AMC's / ARC's ( Annual Maintenance Contract / Annual Rate Contract)
· Industrial Automation
· Repair and Maintenance of Electronics Card
o Free of cost estimates for repair works.
o PCB repairs up to the component level.
o Use sophisticated in-circuit and out-circuit testing facilities for diagnosis thus avoiding trial and error techniques.
o Carry repair works in the laboratory that adheres to standard norms; i.e.: Dust free zones, antistatic accessories, properly maintained tools and equipments etc.
o Deliver repair works in sealed and anti-static packaging
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.44.37 |
|
UK Pound |
1 |
Rs.78.09 |
|
Euro |
1 |
Rs.63.41 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
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 |
|
--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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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 |
|