MIRA
INFORM REPORT
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Report Date : |
11.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
ELEGANT ENGINEERS |
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Registered Office : |
C – 82, Sector – 10, Noida – 201 301, Uttar Pradesh |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1998 |
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IEC No.: |
0501050639 |
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TIN No.: |
09165900670 |
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PAN No.: [Permanent
Account No.] |
AAAFE5721G |
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Legal Form : |
Partnership Concern with an Unlimited Liability of the Partners. |
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Line of Business : |
Manufacturer and Exporter of Packing Machinery, Sugar Machinery,
Sachet Packing Machine, Pauch Sealing Machine. |
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 10990 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established concern having satisfactory track. Trade
relations are fair. Payments are usually correct and as per commitments. Nothing
adverse reported. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Atul Kant Varma |
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Designation : |
Partner |
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Date : |
01.09.2008 |
LOCATIONS
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Registered Office / Factory : |
C – 82, Sector – 10, Noida – 201 301, Uttar Pradesh, India |
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Tel. No.: |
91-120-2525503/ 2444892 |
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Mobile No.: |
91-9810146982 |
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Fax No.: |
91-120-4337501 |
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E-Mail : |
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Website : |
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Area : |
200 Sq. mtrs |
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Location : |
Owned |
PARTNERS
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Name : |
Mr. Atul Kant Varma |
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Designation : |
Partner |
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Date of Birth/Age : |
34 Years |
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Qualification : |
Diploma |
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Experience : |
15 Years |
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Name : |
Mr. Sandeep Agarwal |
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Designation : |
Partner |
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Date of Birth/Age : |
34 Years |
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Qualification : |
Diploma |
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Experience : |
16 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Packing Machinery, Sugar Machinery,
Sachet Packing Machine, Pauch Sealing Machine. |
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Products : |
v
Seal Machine Ø
Collar Type
Vertical Form Fill and Seal Machine Ø
Vertical Form
Fill Seal Machine Ø
Automatic Stick
Pack Machine Ø Horizontal Form
Fill & Seal Machine (Flow Wrapping) Ø
Semi Automatic
Filling and Sealing Machine v
Pouch Sealing
Machine Ø
Vertical Pouch
Sealing Machine Ø Horizontal Pouch
Sealing Machine Ø
Pneumatic Pouch
Sealing Machine Ø
Nitrogen
Flushing & Sealing Machine v
Automatic Phone /
Scratch Card Packing Machine Ø
Automatic Card
Packing Machine - Center Seal Ø
Automatic Card
Packing Machine - Four Side Seal v
Other Packaging
Machines |
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Exports : |
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Products : |
v Packing Machines |
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Countries : |
v Dubai v Oman v Nepal v Sri Lanka v Middle East v Bangaladesh v Pakistan v Japan v Iraq v Iran |
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Terms : |
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Selling : |
L/C, Cash and Credit ( 30 days) |
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Purchasing : |
Cash and Credit ( 30 days) |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
Total : 15 ( Office : 5, Factory : 10) |
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Bankers : |
v Punjab National
Bank Sector 27, Noida – 201 301, Uttar Pradesh, India v Oriental Bank of
Commerce |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Ajay Aggarwal and Company Chartered Accountants |
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Address : |
Noida – 201 301, Uttar Pradesh, India |
CAPITAL STRUCTURE
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Partner’s Capital : |
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Mr. Sandeep
Kumar |
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Opening Capital |
1.095 |
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Add: Profit
during the year |
0.114 |
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Add: Salary |
0.126 |
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Add: Interest on
capital |
0.125 |
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Less: Drawing |
0.280 |
1.180 |
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Mr. Atul Kant
Varma |
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Opening Capital |
0.855 |
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Add: Profit
during the year |
0.114 |
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Add: Salary |
0.126 |
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Add: Interest on
capital |
0.103 |
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Less: Drawing |
0.180 |
1.018 |
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Total |
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2.198 |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Partner’s Capital |
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2.198 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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2.198 |
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LOAN FUNDS |
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1] Secured Loans |
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0.780 |
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2] Unsecured Loans |
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0.000 |
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TOTAL BORROWING |
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0.780 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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2.978 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.415 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.225 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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2.018 |
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Sundry Debtors |
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2.467 |
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Cash & Bank Balances |
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0.091 |
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Other Current Assets |
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0.096 |
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Loans & Advances |
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0.171 |
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Total
Current Assets |
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4.843 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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4.504 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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4.504 |
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Net Current Assets |
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0.339 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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2.978 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2008 |
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Sales Turnover |
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30.898 |
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Total Income |
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30.898 |
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Profit/(Loss) Before Tax |
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0.228 |
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Provision for Taxation |
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0.000 |
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Profit/(Loss) After Tax |
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0.228 |
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Expenditures : |
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Bank Charges |
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0.051 |
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Bank Interest |
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0.035 |
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ESL Cont. of Employer |
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0.026 |
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Salaries, Wages, Bonus, etc. |
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0.540 |
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Interest |
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0.282 |
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Insurance Expenses |
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0.009 |
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Depreciation & Amortization |
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0.093 |
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Other Expenditure |
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29.634 |
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Total Expenditure |
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30.670 |
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KEY RATIOS
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PARTICULARS |
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31.03.2008 |
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PAT / Total Income |
(%) |
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0.74 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.74 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.74 |
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Return on Investment (ROI) (PBT/Networth) |
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0.10 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.05 |
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Current Ratio (Current Asset/Current Liability) |
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1.07 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References
v
Honda Motors
v
Mawana Sugar
v
KRBN Limited
Trust Seal Acceptance Chart
|
Parameters |
Details |
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Existence Verification |
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Name |
Elegant Engineers |
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Address |
C – 82, Sector – 10, Noida – 201 301, Uttar Pradesh, India |
|
Tel. No. |
91-120-2525503/ 2444892 |
|
Mobile No |
91-9810146982 |
|
Fax No |
91-120-4337501 |
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Statutory Approvals |
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Legal Status of Firm |
Partnership |
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Income Tax Registration |
AAAFE5721G |
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Import Export Code |
0501050639 |
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VAT/ TIN Registration |
09165900670 |
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Name of Bank |
Punjab National Bank, Sector 27, Noida – 201 301, Uttar Pradesh, India |
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Current Account Number |
0726008700002936 |
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Account Since |
1998 |
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Emp PF Reg Number |
ND |
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Company ESI Reg. Number |
ND |
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RBI Code Number |
AAAFE5721G |
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Credibility Factors |
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India Mart Client Since |
New Member |
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Year of Establishment |
1998 |
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Trade Affiliations |
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SSI Registration |
20/ 78/ 88207 |
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Export Promotion Council |
Export Promotion Council |
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Standards and Certifications (ISO) |
Q910391188207 |
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Quality Management Systems |
Yes Maintaining Full Quality Control |
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Safety Certificates |
Yes Maintaining Full Quality Control |
As Per Website Details
Subject is one of the leading manufacturer, exporter and supplier of Pouch Packaging Machines from India. Designed for efficient operations to meet the varying requirements of different industries, the packaging machines have craved a niche for themselves across industries like; FMCG, Packed Food, Pesticides, 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 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] 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 concern is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
The 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.
The 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. 45.44 |
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UK Pound |
1 |
Rs. 79.62 |
|
Euro |
1 |
Rs. 63.48 |
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 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
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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 |
|
46 |
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 |
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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 |
|
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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