MIRA
INFORM REPORT
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Report Date : |
26.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
POWER LINE ELECTRIC INDIA PRIVATE LIMITED |
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Registered Office : |
A – 115, Second Floor, Vikas Marg, Shakarpur, Delhi – 110092 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
15.06.1993 |
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Com. Reg. No.: |
55-54032 |
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CIN No.: [Company
Identification No.] |
U64200DL1993PTC054032 |
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PAN No.: [Permanent
Account No.] |
AAACP0617R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of AC Drives, HT Panels and Power Distributions and Transformers.
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RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 600 |
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Status : |
Yet to commence operations |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a pretty old company but had not commenced commercial
operations as per its last available financials of 31.03.2007. No further
details or payment could be made available. The management parted general
details. The company can be considered for business dealings on safe and
secured terms, initially. |
INFORMATION PARTED
BY
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Name : |
Mr. Sunil Aggarwal |
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Designation : |
Director |
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Contact No.: |
91-9871373955 |
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Date : |
28.08.2008 |
LOCATIONS
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Registered Office : |
A – 115, Second Floor, Vikas Marg, Shakarpur, Delhi – 110092, India |
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Mobile No.: |
91-9871373955/ 9311844095 |
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E-Mail : |
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Website : |
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Corporate Office : |
KK – 144, Kavi Nagar, Ghaziabad – 201002, Uttar Pradesh, India |
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Tel. No.: |
91-120-2752608/ 4158635 |
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Fax No.: |
91-120-2701633 |
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Mobile : |
91-9871373955/ 9311844095 |
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Email : |
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Website : |
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Area : |
25000 sq. ft. |
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Location : |
Owned |
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Administrative Office : |
1836, First Floor, Bhagirath Place, Delhi – 110006, India |
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Email : |
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Factory 1: |
E-26/1, Bulhand Shar Road, Ghaziabad, Uttar Pradesh, India |
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Area : |
15000 sq. ft. |
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Location : |
Owned |
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Factory 2: |
F3, Bulhand Shar Road, Ghaziabad, Uttar Pradesh, India |
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Area : |
10000 sq. ft. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Sunil Aggarwal |
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Designation : |
Director |
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Address : |
Ghaziabad |
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Date of Birth/Age : |
15.06.1998 |
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Qualification : |
Graduate, B. Sc |
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Experience : |
20 years |
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Date of Appointment : |
15.06.1993 |
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Name : |
Mrs. Rita Agarwal |
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Designation : |
Director |
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Address : |
Ghaziabad |
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Date of Birth/Age : |
16.11.2004 |
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Qualification : |
Graduate, B. E. |
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Date of Appointment : |
16.11.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
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Names of Shareholders |
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No. of Shares |
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Sunil Agarwal |
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525 |
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Rita Agarwal |
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475 |
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Total |
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1000 |
(A son 31.03.2007)
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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 of AC Drives, HT Panels and Power Distributions and
Transformers. |
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Products : |
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Exports : |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit (30 days) |
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Purchasing : |
Cash and Credit (30 days) |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
70 (Office – 20 and Factory – 50) |
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Bankers : |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Hari Ram Agarwala and Associates Chartered Accountant |
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Address : |
A-115, 2nd Floor, Vikas Marg, Shakarpur, Delhi – 110092,
India |
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Tel No.: |
91-11-2226614 |
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Associates/Subsidiaries : |
Kavinagar, Ghziabad, India (Control Panel)
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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5000 |
Equity Shares |
Rs.100/-
each |
Rs.0.500 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000 |
Equity Shares |
Rs.100/-
each |
Rs.0.100
Million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.014 |
0.015 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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0.114 |
0.115 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.110 |
0.110 |
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TOTAL BORROWING |
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0.110 |
0.110 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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0.224 |
0.225 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
0.000 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.000 |
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Sundry Debtors |
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0.230 |
0.230 |
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Cash & Bank Balances |
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0.005 |
0.005 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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0.089 |
0.089 |
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Total
Current Assets |
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0.324 |
0.324 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.100 |
0.099 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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0.100 |
0.099 |
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Net Current Assets |
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0.224 |
0.225 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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0.224 |
0.225 |
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Note:
The Subject Company has not carries out any
business activity during the financial years 2006-07, resulting there were no
revenue expenditure debited to P & L Account. Hence, the subject did not
prepare neither Trading Account nor P & L Account.
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Debt Equity Ratio (Total Liability/Networth) |
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1.84 |
1.82 |
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Current Ratio (Current Asset/Current Liability) |
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3.24 |
3.27 |
LOCAL AGENCY
FURTHER INFORMATION
Note:
Though this company formed in 1993, but could not start functioning and
functioning has recently started. Previously all export and other work was
carried through Power Tech India, Ghaziabad.
Trade Reference:
- Industrial
Control Sustems, Delhi
- Power Tech,
Ghaziabad
- Power Control
and Switch Gear Limited
Website Details:
Profile:
They are an ISO 9001-2000, ISO-14000 Certified.
With their wide expertise and experience, Subject, offer an unmatched technologically, advanced and precisely
engineered power distribution systems and electrical control Panels for various
applications.
They are India based exporter and
trader of premium quality electrical products including AMF Panels, AC drives, DC drive, HT Panels, Power Distribution Panels,
Motor control centers, LT Panels, Compact sub-Station, dry & oil
Transformers, Turbines, Servo Stabilizers, D.G Sets, Transformers, Transmission
materials etc. designed and developed by following stringent quality
control norms and measures, their products are high on every aspect of
precision, quality and performance.
Having 100 years of combined electrical engineering experience, their core
values remain innovation with continuous improvements in our HT Panels, LT
Panels, etc. Their impeccable quality, prompt delivery schedules and client
oriented approach have enabled to earn the trust of in-numerable clients spread
at all corners of the world. They give the best range of HT Panels, LT Panels
and other products at the most durable & competitive price. Their export
markets are primarily centered in a number of Asian and African continents.
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 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.25 |
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UK Pound |
1 |
Rs.85.92 |
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Euro |
1 |
Rs.68.11 |
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 |
2 |
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OPERATING SCALE |
1~10 |
- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
- |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
1 |
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--CREDIT LINES |
1~10 |
1 |
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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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14 |
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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