MIRA
INFORM REPORT
|
Report Date : |
25.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
N.S. CONCRETE SOLUTIONS PRIVATE LIMITED |
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Registered
Office : |
E-14, Anand Niketan,
New Delhi-110021, Delhi |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
04.07.2008 |
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Com. Reg. No.: |
55-180462 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.100 Million |
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CIN No.: [Company Identification
No.] |
U74900DL2008PTC180462 |
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|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELN09415A |
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PAN No.: [Permanent Account No.] |
AACCN8007D |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Manufacturer and Supplier of Ready mix concrete plant. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 83000 |
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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. The
company is progressing well. Trade relations are reported as 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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office : |
E-14, Anand Niketan,
New Delhi-110021, Delhi, India |
|
Tel. No.: |
Not Available |
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Mobile No.: |
91-9971344344 (Mr. Ajit Arora) |
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Fax No.: |
Not Available |
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E-Mail : |
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Branch Office : |
73 P, Sector-40, Gurgaon-122001, Haryana,
India |
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Tel No.: |
91-124-3250651 |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Ajit Arora |
|
Designation : |
Director |
|
Address : |
E-14, Anand Niketan,
New Delhi-110021, Delhi, India |
|
Date of Appointment : |
04.07.2008 |
|
DIN No : |
00253543 |
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|
Name : |
Mr. Surjit Arora |
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Designation : |
Director |
|
Address : |
C-40, Anand Niketan,
New Delhi-110021, Delhi, India |
|
Date of Appointment : |
04.07.2008 |
|
DIN No : |
00303693 |
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|
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|
Name : |
Mr. Anoop Arora |
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Designation : |
Director |
|
Address : |
E-14, Anand Niketan,
New Delhi-110021, Delhi, India |
|
Date of Appointment : |
09.07.2008 |
|
DIN No : |
00253724 |
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|
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|
Name : |
Mr. Prashant Mehta |
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Designation : |
Director |
|
Address : |
A-57, Kirti Nagar,
New Delhi-110015, Delhi, India |
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Date of Appointment : |
09.07.2008 |
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DIN No : |
02242281 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Ajit Arora |
72334 |
|
Surjit Arora |
30333 |
|
Prashant Mehta |
25333 |
|
Anoop Arora |
4000 |
|
N. S. Concretes Private Limited, India |
59850 |
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Total |
191850 |
AS ON 30.09.2010
|
Category |
Percentage |
|
Bodies corporate |
31.20 |
|
Directors or relatives of Directors |
68.80 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Ready mix concrete plant. |
GENERAL INFORMATION
|
Bankers : |
·
Indian Overseas Bank, DM-15, DLF Phase-II,
Guragan-122001, Haryana, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Sandeep Kumar and Associates Chartered Accountant |
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Address : |
99, Sector-15, Part-I, Gurgaon-122001, Haryana,
India |
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Related Party : |
·
National Stone Crushing Company ·
Jai Hind Enterprises ·
Quality Express ·
D G Traders ·
Shri Ram Carriers ·
N. S. Concrete Private Limited ·
N. S. Readymix Private
Limited ·
N. S. Buildtech Private
Limited |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
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|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
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|
AS ON 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000 |
Equity Shares |
Rs.10/- each |
Rs.6.000 Millions |
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|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
191850 |
Equity Shares |
Rs.10/- each |
Rs. 1.918
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 |
|
|
SHAREHOLDERS FUNDS |
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|
|
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1] Share Capital |
|
0.100 |
0.100 |
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|
2] Share Application Money |
|
18.785 |
6.500 |
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|
3] Reserves & Surplus |
|
1.987 |
0.266 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
20.872 |
6.866 |
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|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
|
15.930 |
10.397 |
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2] Unsecured Loans |
|
0.000 |
0.000 |
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TOTAL BORROWING |
|
15.930 |
10.397 |
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|
DEFERRED TAX LIABILITIES |
|
0.488 |
0.143 |
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|
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TOTAL |
|
37.290 |
17.406 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
27.904 |
16.978 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
|
1.463 |
1.788 |
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Sundry Debtors |
|
29.963 |
9.277 |
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Cash & Bank Balances |
|
0.627 |
0.123 |
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Other Current Assets |
|
0.667 |
0.034 |
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Loans & Advances |
|
0.679 |
0.214 |
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Total
Current Assets |
|
33.399 |
11.436 |
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|
Less : CURRENT
LIABILITIES & PROVISIONS |
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|
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Sundry Creditors |
|
20.929 |
10.433 |
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Other Current Liabilities |
|
2.018 |
0.538 |
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|
Provisions |
|
1.078 |
0.053 |
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Total
Current Liabilities |
|
24.025 |
11.024 |
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Net Current Assets |
|
9.374 |
0.412 |
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MISCELLANEOUS EXPENSES |
|
0.012 |
0.016 |
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|
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TOTAL |
|
37.290 |
17.406 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
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Other Income |
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TOTAL (A) |
|
143.404 |
24.469 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
|
NA |
NA |
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Advertising Expenses |
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TOTAL (B) |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
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NA |
NA |
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Less |
FINANCIAL
EXPENSES (D) |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
NA |
NA |
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PROFIT BEFORE
TAX (E-F) (G) |
|
2.295 |
0.462 |
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Less |
TAX (I) |
|
0.574 |
0.195 |
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PROFIT AFTER TAX
(G-I) (J) |
|
1.721 |
0.267 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
|
1.20 |
1.09 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
3.74 |
1.63 |
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Return on Investment (ROI) (PBT/Networth) |
|
|
0.11 |
0.07 |
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Debt Equity Ratio (Total Liability/Networth) |
|
|
1.94 |
3.14 |
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Current Ratio (Current Asset/Current Liability) |
|
|
1.39 |
1.04 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8
|
Corporate
identity number of the company |
U74900DL2008PTC180462 |
|
Name of the
company |
N.S. CONCRETE
SOLUTIONS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
E-14, Anand Niketan, New Delhi-110021, Delhi, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) Floating charge |
|
Particular of
charge holder |
Indian Overseas Bank, DM-15, DLF Phase-II, Guragan-122001, Haryana, India |
|
Nature of
instrument creating charge |
Letter Of
Confirmation |
|
Date of
instrument Creating the charge |
18.05.2011 |
|
Amount secured by
the charge |
Rs. 20.000 Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As Per Sanction
Letter Terms of repayment Repayable On
Demand Margin As Per Sanction
Letter Extent and operation of the charge 100% Other To grant cash
credit facility of Rs. 20.000 millions. Other term
and conditions as per sanction letter. The limit is further secured by Em of property situated at Flat No. 409, tower-a situated
on Fourth Floor, measuring 1529.00 sq. feet in Spazedge,
Sector-47, Sohna Road, Gurgaon,
Haryana in the name of M/S. N.S. Buildtech Private Limited. |
|
Short particulars
of the property charged (Including location of the property) |
All stock and
book debts of the company both present and future. EM of property
situated at Flat No. 409, tower-a situated on Fourth Floor, Measuring 1529.00
sq. feet in Spazedge, Sector-47, Sohna Road, Gurgaon, Haryana in the name of M/S. N.S. Buildtech
Private Limited. |
|
Whether any of
the property or interest therein under reference is not registered in the
name of the company. |
Yes |
|
If yes, in whose
name it is registers |
Refer Clause 15 |
|
Charge
identification number of the charge to be modified |
10241945 |
|
Particulars of
the present modification |
To grant cash credit
facility of Rs. 20.000 millions. Other term and
conditions as per sanction letter. The limit is further secured by EM of
property situated at flat no. 409, tower-a situated on fourth floor,
measuring 1529.00 sq. feet in Spazedge, Sector-47, Sohna Road, Gurgaon, Haryana in the name of M/S. N.S. Buildtech
Private Limited. |
FIXED ASSETS
·
Air Conditioner
·
Batching Plant
·
Building
·
Conveyor
·
Electric Equipments
·
Lab Equipments
·
Generator
·
Computer Printer
·
Motor Cycle
·
Welding Machine
·
Mobile Phones
·
Weighing Machine
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. 45.76 |
|
|
1 |
Rs. 75.57 |
|
Euro |
1 |
Rs. 65.97 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
43 |
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.