MIRA
INFORM REPORT
|
Report Date : |
29.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
ZENITH WELDAIDS LIMITED (w.e.f. 14.01.2010) |
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Formally Known As : |
ZENITH WELDAIDS PRIVATE LIMITED |
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Registered Office : |
C 164, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
23.10.1989 |
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Com. Reg. No.: |
20-011307 |
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CIN No.: [Company Identification No.] |
U273110UP1989PTC011307 |
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TAN No.: [Tax Deduction & Collection Account No.] |
MRTZ00089F MRTZ00075F |
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PAN No.: [Permanent Account No.] |
AAACZ0626J |
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Legal Form : |
A Closely Held
Public Limited Liability Company. |
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Line of Business : |
Manufacturer and Exporters of Wire Drawing Machines, Cable Making Machineries,
Galvanizing Plants and Cable Making Accessories. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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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 37000 |
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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 an established company having satisfactory track. Trade
relations are fair. Business is active. Payments are reported to be usually
correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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|
A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
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Name : |
Mr. Rahul Gupta |
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Designation : |
Account Department |
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Date : |
26.04.2011 |
LOCATIONS
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Registered Office / Factory : |
C 164, |
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Tel. No.: |
91-120-2701269 / 2700788 / 2700513 / 4151169 |
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Mobile No.: |
91-9810139137 (Mr. Deepak Tyagi) |
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Fax No.: |
91-120-2700513 / 2700511 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Branches : |
207, |
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Tel. No.: |
91-22-28344676 |
DIRECTORS
As On : 30.09.2010
|
Name : |
Mr. Deepak Tyagi |
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Designation : |
Director |
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Address : |
D- 217 Ramprastha, Chander Nagar, Ghaziabad-201005, |
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Date of Birth/Age : |
01.05.1955 |
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Qualification : |
Post Graduate |
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Date of Appointment : |
23.10.1989 |
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DIN No : |
01088506 |
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Name : |
Mrs. Rajni Kanta Tyagi |
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Designation : |
Director |
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Address : |
D- 217 Ramprastha, Chander Nagar, Ghaziabad-201005, |
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Date of Birth/Age : |
06.10.1963 |
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Qualification : |
Post Graduate with MBA |
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Date of Appointment : |
10.05.1991 |
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DIN No : |
01123254 |
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Name : |
Mr. Prateek Tyagi |
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Designation : |
Director |
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Address : |
D- 217 Ramprastha, Chander Nagar, Ghaziabad-201005, |
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Date of Appointment : |
01.01.2010 |
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DIN No : |
02912571 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
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Names of Shareholders |
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No. of Shares |
|
Deepak Tyagi |
|
11090 |
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Pawan Tyagi |
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100 |
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Satish Gupta |
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980 |
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Jitendra Tyagi |
|
950 |
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R. P. Tyagi |
|
1000 |
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Rajni Tyagi |
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20175 |
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Sewa Sharma |
|
980 |
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C M Sood |
|
500 |
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Vinod Shrma |
|
850 |
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P |
|
980 |
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Pratik Tyagi |
|
870 |
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Parmatma Saran |
|
900 |
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Mahesh Chand |
|
380 |
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Vishnu Kumar |
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1690 |
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RamTyagi |
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1600 |
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Ishwar Dayal |
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880 |
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Rajwati Tyagi |
|
795 |
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Total |
|
44720 |
AS ON 30.09.2010
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
|
0.80 |
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Other top fifty shareholders |
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0.20 |
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Total
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporters of Wire Drawing Machines, Cable Making
Machineries, Galvanizing Plants and Cable Making Accessories. |
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Products : |
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Exports : |
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Products : |
Wire Drawing Machines |
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Countries : |
·
Nigeria ·
Ghana ·
Africa |
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Terms : |
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Selling : |
Cash, Credit (60 days) |
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Purchasing : |
Cash, Credit (60 days) |
GENERAL INFORMATION
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No. of Employees : |
120 (In Office-20, In Factory-90) (Approximately) |
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Bankers : |
·
Canara Bank, SME Branch, C-109, BS Road,
Industrial Area, Ghaziabad-201001, Uttar Pradesh, India ·
HDFC Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Financial Institution : |
U. P. Financial Cororation, 14/88, Civil Lines Kanpur, Uttar Pradesh,
India. |
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Auditors : |
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Name : |
Garg R Kumar and Associates Chartered Accountants |
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Address : |
7, Advocate Chamber, RDC Raj Nagar, Ghaziabad-201001, Uttar Pradesh,
India |
CAPITAL STRUCTURE
As On : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
100000 |
Equity Shares |
Rs. 100/- 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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44720 |
Equity Shares |
Rs. 100/- each |
Rs. 4.472
millions |
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FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
4.472 |
2.972 |
2.972 |
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2] Share Application Money |
0.000 |
1.500 |
0.085 |
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3] Reserves & Surplus |
4.937 |
3.177 |
1.431 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
9.409 |
7.649 |
4.488 |
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LOAN FUNDS |
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1] Secured Loans |
4.883 |
4.015 |
3.106 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
4.883 |
4.015 |
3.106 |
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DEFERRED TAX LIABILITIES |
0.081 |
0.030 |
0.276 |
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TOTAL |
14.373 |
11.694 |
7.870 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
10.273 |
8.391 |
4.070 |
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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 |
7.354
|
10.705
|
12.201
|
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Sundry Debtors |
8.079
|
2.794
|
5.256
|
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Cash & Bank Balances |
4.710
|
6.750
|
3.759
|
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Other Current Assets |
0.000
|
0.000
|
0.000
|
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Loans & Advances |
2.770
|
2.385
|
2.675
|
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Total
Current Assets |
22.913 |
22.634 |
23.891 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
9.141
|
10.918
|
10.934 |
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Other Current Liabilities |
8.917
|
7.525
|
8.888
|
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Provisions |
0.755
|
0.888
|
0.269
|
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Total
Current Liabilities |
18.813 |
19.331 |
20.091 |
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Net Current Assets |
4.100 |
3.303
|
3.800
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
14.373 |
11.694 |
7.870 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
77.983 |
66.708 |
37.526 |
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Other Income |
0.124 |
2.251 |
NA |
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TOTAL (A) |
78.107 |
68.959 |
NA |
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Less |
EXPENSES |
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Cost of Materials |
58.414 |
52.796 |
NA |
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Manufacturing Expenses |
5.199 |
3.888 |
NA |
|
|
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Increase/(Decrease) in Finished Goods |
4.586 |
1.865 |
NA |
|
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Administrative Expenses |
5.964 |
6.697 |
NA |
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TOTAL (B) |
74.163 |
65.246 |
NA |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
3.944 |
3.713 |
NA |
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Less |
FINANCIAL
EXPENSES (D) |
0.366 |
0.572 |
NA |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3.578 |
3.141 |
1.289 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.013 |
0.732 |
0.578 |
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PROFIT BEFORE
TAX (E-F) (G) |
2.565 |
2.409 |
0.711 |
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Less |
TAX (H) |
(0.805) |
(0.663) |
NA |
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PROFIT AFTER TAX
(G-H) (I) |
1.760 |
1.746 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.25
|
2.62 |
NA |
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
3.29
|
3.61 |
1.89 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
7.73
|
7.76 |
2.54 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.27
|
0.31 |
0.16 |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
2.53
|
3.05 |
5.17 |
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|
Current Ratio (Current Asset/Current Liability) |
|
1.22
|
1.17 |
1.19 |
LOCAL AGENCY FURTHER INFORMATION
SALES
During the year turnover amounts to Rs. 77.983 millions as compared to
Rs. 66.708 millions of Previous year.
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10057640 |
|
Corporate
identity number of the company |
U27310UP1989PTC011307 |
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Name of the
company |
ZENITH WELAIDS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
C – 164, Site No,-I, |
|
Type of charge |
·
Immovable
property ·
Book
debt ·
Movable
Property ·
Others
Stock |
|
Particular of
charge holder |
Canara Bank, SME Branch, C – 109, Email ID: del2647@canbank.co.in
|
|
Nature of
description of the instrument creating or modifying the charge |
Supplement Common
Hypothecation Agreement Letter of
Evidencing of tittle deeds |
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Date of
instrument Creating the charge |
13.09.2008 |
|
Amount secured by
the charge |
Rs.9.000 Millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest The rate or rates
as may be prescribed by bank from time to time. Terms of
repayment Payable On demand Margin As may be
prescribed by bank from time to time. Extent and
operation of the charge 100% Others The said
hypothecation is to secure the OCC limit of Rs.9.000 Millions (Sub limit of
ODBD of Rs.1.500 Millions). The limit shall
be further secured by equitable Mortgage of Factory Land and Building situated
at C – 164 BSR Industrial Area |
|
Short particulars
of the property charged |
|
FIXED ASSETS
- Land
- Building
- Plant and
Machinery
- Furniture and
Fixture
- Electrical
Fittings
- Office
Equipment
- Computers
- Vehicles Car
AS PER WEB DETAILS
PROFILE
Subject established
in the late eighties, enjoys a hard earned reputation in the Wire Industry for
its excellence in engineering and latest technical knows how. It is situated in
the national capital region just off NH 24 in
Its state of the art technology covers the entire spectrum of the wire industry
from bull block to super fine machines. Intensive R and D coupled with the
feedback from the user industry has catalyzed a unique new generation of Wire
Drawing Machines which offer the most up to date economical answer to any
drawing and processing needs.
Subject combines the commitment of its staff with the efficiency of its proven
design to provide machines which are second to none.
The motivation and innovation of the management team together with the skill
and dedication of its workforce ensure that each and every drawing and
processing requirement is met swiftly and to the highest quality.
Zenith machines are high in performance, low in maintenance and are of superior
value in terms of life time cost, for it takes responsibility for their service
life time. All technical requirements of Wire, Cable and Wire Rope Industry can
be realized with these machines
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] 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.44.33 |
|
|
1 |
Rs.74.13 |
|
Euro |
1 |
Rs.65.78 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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 |
|
|
>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 |
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 |
|
-- |
NB |
New Business |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.