MIRA
INFORM REPORT
|
Report Date : |
06.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
MODERN PREFAB SYSTEMS PRIVATE LIMITED |
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|
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Registered Office : |
MTM Complex, Jonapur Mehrauli, |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
06.03.1997 |
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Com. Reg. No.: |
55-85643 |
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Capital Investment / Paid-up Capital : |
Rs.28.000 Millions (As on 31.03.2010) |
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CIN No.: [Company
Identification No.] |
U51432DL1997PTC085643 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELM05175C DELM08642E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of prefabricated modular insulated re-locatable
structures. |
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|
No. of Employees : |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 200000 |
|
|
|
|
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 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
MTM Complex, Jonapur Mehrauli, |
|
Tel No. : |
91-11-6807646 |
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Fax No. : |
91-11-6802096 |
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E-Mail : |
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Website : |
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Factory : |
Plot No. 273,274 Sector – 7, IMT Manesar District Gurgaon – 122050, |
|
Tel. No.: |
91-124-4343700 |
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Fax No.: |
91-124-2291193 / 4343743 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Subhash Kapoor |
|
Designation : |
Chairman |
|
Address : |
|
|
Date of Appointment : |
01.01.2001 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U74899DL1983PTC017063 |
MODERN FLOORING PRIVATE LIMITED |
Director |
05/12/1987 |
05/12/1987 |
- |
Active |
NO |
|
2 |
U74899DL1994PTC056888 |
PEBBLES CONSTRUCTIONS
PRIVATE LIMITED |
Director |
12/01/1994 |
12/01/1994 |
- |
Active |
NO |
|
3 |
U51432DL1997PTC085643 |
MODERN PREFAB SYSTEMS
PRIVATE LIMITED |
Director |
01/04/1998 |
01/04/1998 |
- |
Active |
NO |
|
4 |
U72300DL2008PTC175156 |
Modern Infratel Private
Limited |
Director |
11/03/2008 |
11/03/2008 |
10/05/2010 |
Active |
NO |
|
Name : |
Mr. Aditya Kapoor |
|
Designation : |
Director |
|
Address : |
|
|
Date of Appointment : |
06.03.1997 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U51432DL1997PTC085643 |
MODERN PREFAB SYSTEMS
PRIVATE LIMITED |
Director |
06/03/1997 |
06/03/1997 |
- |
Active |
NO |
|
2 |
U74899DL1994PTC056888 |
PEBBLES CONSTRUCTIONS
PRIVATE LIMITED |
Director |
16/04/1998 |
16/04/1998 |
- |
Active |
NO |
|
3 |
U72300DL2008PTC175156 |
Modern Infratel Private
Limited |
Director |
11/03/2008 |
11/03/2008 |
10/05/2010 |
Active |
NO |
|
4 |
U45400DL2009PTC189730 |
INTERMODAL BUILDING
SYSTEMS PRIVATE LIMITED |
Director |
23/05/2009 |
23/05/2009 |
- |
Active |
NO |
|
Name : |
Mr. Jagdeep Mathur |
|
Designation : |
Director |
|
Address : |
135, Sidharth, Enclave, Ashram, |
|
Date of Appointment : |
01.04.1998 |
|
Date of Ceasing: |
08.02.2011 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U51432DL1997PTC085643 |
MODERN PREFAB SYSTEMS
PRIVATE LIMITED |
Director |
01/04/1998 |
01/04/1998 |
08/02/2011 |
Active |
NO |
|
2 |
U72300DL2008PTC175156 |
Modern Infratel Private
Limited |
Director |
11/03/2008 |
11/03/2008 |
10/05/2010 |
Active |
NO |
|
3 |
U45200DL2011PTC217456 |
TEJASVINI BUILDING SYSTEMS
PRIVATE LIMITED |
Director |
13/04/2011 |
13/04/2011 |
- |
Active |
NO |
|
Name : |
Mrs. Aruna Kapoor |
|
Designation : |
Director |
|
Address : |
|
|
Date of Appointment : |
01.04.2003 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U74899DL1983PTC017063 |
MODERN FLOORING PRIVATE
LIMITED |
Director |
01/05/1988 |
01/05/1988 |
- |
Active |
NO |
|
2 |
U74899DL1994PTC056888 |
PEBBLES CONSTRUCTIONS
PRIVATE LIMITED |
Director |
12/01/1994 |
12/01/1994 |
- |
Active |
NO |
|
3 |
U51432DL1997PTC085643 |
MODERN PREFAB SYSTEMS
PRIVATE LIMITED |
Director |
01/04/2003 |
01/04/2003 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Subhash Kapoor |
|
1440000 |
|
Mr. Aditya Kapoor |
|
750000 |
|
Mrs. Aruna Kapoor |
|
250000 |
|
Mr. Aditya Kapoor - Mrs. Aruna Kapoor |
|
780000 |
|
Mrs. Aruna Kapoor - Mr. Aditya Kapoor |
|
780000 |
|
Total |
|
4000000 |
AS ON 30.09.2011
|
Category |
|
Percentage |
|
Directors or relatives of directors |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of prefabricated modular insulated re-locatable
structures. |
|
|
|
|
Products : |
Prefabricated Structures |
GENERAL INFORMATION
|
Customers : |
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Bankers : |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Arora Gupta and Goel Chartered Accountant |
|
Address : |
1 Laxman Chambers, 370-371, Hospital Road, Jangpura, New Delhi –
110047, Delhi, India |
|
Pan No.: |
AAAFA7190F |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Share |
Rs.10/- Each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2800000 |
Equity Share |
Rs.10/- Each |
Rs.28.000
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
40.000 |
28.000 |
19.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
43.327 |
38.085 |
34.241 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
83.327 |
66.085 |
53.741 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
209.750 |
135.554 |
167.643 |
|
|
2] Unsecured Loans |
20.600 |
31.100 |
48.070 |
|
|
TOTAL BORROWING |
230.350 |
166.654 |
215.713 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
313.677 |
232.739 |
269.454 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
107.316 |
109.903 |
108.582 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
71.891
|
89.404 |
118.538 |
|
|
Sundry Debtors |
145.153
|
70.076 |
72.500 |
|
|
Cash & Bank Balances |
39.589
|
60.212 |
16.410 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
17.657
|
27.056 |
8.530 |
|
Total
Current Assets |
274.290
|
246.748 |
215.978 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
95.127 |
33.829 |
|
|
Current Liabilities |
|
24.760 |
19.349 |
|
|
Provisions |
4.271
|
4.078 |
1.955 |
|
Total
Current Liabilities |
68.021
|
123.965 |
55.133 |
|
|
Net Current Assets |
206.269
|
122.783 |
160.845 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.092 |
0.053 |
0.027 |
|
|
|
|
|
|
|
|
TOTAL |
313.677 |
232.739 |
269.454 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
|
705.106 |
501.434 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
25.655 |
19.859 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
13.059 |
15.250 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
12.596 |
4.609 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
4.078 |
1.956 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
8.518 |
2.653 |
|
|
|
|
|
|
|
|
|
Less |
Tax Adjustment
and Extra Ordinary Items |
|
4.673 |
0.012 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
29.241 |
26.857 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
33.086 |
29.241 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
1.21 |
0.53 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
3.53 |
1.42 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.19 |
0.09 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.58
|
4.39 |
5.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.03
|
1.99 |
3.92 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges Report
as per Registry
|
Corporate identity number of the company |
U51432DL1997PTC085643 |
|
Name of the company |
MODERN PREFAB SYSTEMS PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
MTM Complex,
Jonapur Mehrauli, New Delhi – 110047, Delhi |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable Property |
|
Particular of charge holder |
JSC VTB BANK |
|
Nature of instrument creating charge |
Working Capital Term Loan Hypothecation
agreement Agreement of Hypothecation for Letter Of
Credit Counter Guarantee and indemnity |
|
Date of instrument Creating the charge |
10/06/2011 |
|
Amount secured by the charge |
Rs.100.00 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest BR+1.25% p. a( 11% p. a. at present) Terms of Repayment 36 Monthly installment plus monthly
interest Extent and Operation of the charge 1) 2nd Charge on the current assets of the
company 2) Equitable mortgage of immovable
property no. GC 8 and GC8A, Ground Floor, Commercial Complex, Raheja Square,
Manesar, Gurgoan, in the name of directors and their family members. |
|
Short particulars of the property charged |
1) 2nd Charge on the current assets of the
company 2) Equitable mortgage of immovable
property no. GC 8 and GC8A, Ground Floor, Commercial Complex, Raheja Square,
Manesar, Gurgoan, in the name of dire |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10050378 |
|
Corporate
identity number of the company |
U51432DL1997PTC085643 |
|
Name of the
company |
MORDERN PERFAB SYSTEMS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
MTM Complex, Jonapur Mehrauli, |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Union Bank of Aurobindo Marg, Yusuf Sarai, E-mail : ssehgal5@gmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
Composite
hypothecation deed |
|
Date of instrument
Creating the charge |
05.09.2008 |
|
Amount secured by
the charge |
Rs.300.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest BPLR plus the rate
as stipulated by the bank for various facilities Terms of
Repayment On Demand Margin As stipulated by
the bank Extent and
Operation of the charge 100% Others To Collaterally
secure CC limit of Rs.180.000 millions and LG limit of Rs.120.000 millions |
|
Short particulars
of the property charged |
Existing charge
by way of equitable mortgage by deposit of original title deeds of properties
situated over plot Nos. 270, 273 and 274 each measuring 1800 sq. mt. At
sector 7, Industrial Estate, IMT, Manesar, Gurgaon with present and future
structure |
|
Date of latest
modification prior to the present modification |
07.05.2007 |
|
Particulars of
the present modification |
Bank’s exiting charge
by way of equitable mortgage by deposit of original title deeds of properties
situated over plot Nos. 270, 273 and 274 each measuring 1800 sq. mt. At
sector 7, Industrial Estate, IMT, Manesar, Gurgaon with present and future
structure stands enhanced from Rs.250.000 millions to Rs.300.000 millions
with sanction of adhoc CC limit of Rs.30.000 millions and additional LG limit
of Rs.20.000 millions sanction to the company 2nd charge on the
assets in favour of SIDBI shall continue |
Fixed Assets :
- Computers
- Furniture and
Fixture
- Office
Equipments
- Plant and
Machinery
- Electrical
Equipments
- Motor Car
- Cycle
- Factory land
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.51.39 |
|
|
1 |
Rs.80.20 |
|
Euro |
1 |
Rs.68.92 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
|
45 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this report.
The assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General unfavourable
factors will not cause fatal effect. Satisfactory capability for payment of
interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
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.