1. Summary Information
|
|
|
Country |
|
|
Company Name |
C S DIESEL ENGINEERING PRIVATE LIMITED |
Principal Name 1 |
Chandrakant P. Shah |
|
Status |
Satisfactory |
Principal Name 2 |
Shobhna C. Shah |
|
|
|
Registration # |
-- |
|
Street Address |
15, QRGH, Laxmi
Industrial Estate, New Link Road, Off Vira Desai Road, Azad Nagar, Andheri [West], Mumbai –
400053, Maharashtra, India |
||
|
Established Date |
23.09.1980 |
SIC Code |
-- |
|
Telephone# |
91-22-26360777 /
26361225 |
Business Style 1 |
Provides Technical Assistance for Selection of Engines, Technical
Review of Requirements |
|
Fax # |
91-22-26365729 |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
-- |
|
# of employees |
67 |
Product Name 2 |
-- |
|
Paid up capital |
29,345,000 |
Product Name 3 |
-- |
|
Shareholders |
Chandrakant P. Shah – 18600 |
Banking |
State Bank of Citi Bank N.A |
|
Public Limited Corp. |
-- |
Business Period |
30 years |
|
IPO |
--- |
International Ins. |
- |
|
Public |
--- |
Rating |
Ba (46) |
|
Related
Company |
|||
|
Relation
-- |
Country
-- |
Company
Name |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
83,715,000 |
Current Liabilities |
88,045,000 |
|
Inventories |
47,431,000 |
Long-term Liabilities |
33,504,000
|
|
Fixed Assets |
18,253,000 |
Other Liabilities |
-- |
|
Deferred Assets |
1,495,000 |
Total Liabilities |
121,549,000 |
|
Invest& other Assets |
-- |
Retained Earnings |
24,345,000 |
|
|
|
Net Worth |
29,345,000 |
|
Total Assets |
150,894,000 |
Total Liab. & Equity |
150,894,000 |
|
Total Assets (Previous Year) |
124,534,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
-- |
Net Profit |
-- |
|
Sales(Previous yr) |
-- |
Net Profit(Prev.yr) |
-- |
MIRA
INFORM REPORT
|
Report Date : |
23.02.2011 |
IDENTIFICATION DETAILS
|
Name : |
C S DIESEL ENGINEERING PRIVATE LIMITED |
|
|
|
|
Registered Office : |
15, QRGH, Laxmi Industrial Estate, New Link Road, Off Vira Desai
Road, Azad Nagar, Andheri [West],
Mumbai – 400053, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
23.09.1980 |
|
|
|
|
Com. Reg. No.: |
11-23181 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U34100MH1980PTC023181 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMC11075B |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACC4519R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Provides Technical Assistance for Selection of Engines, Technical
Review of Requirements, Installation Recommendations. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 117380 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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 – 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
15, Qrgh, Laxmi Industrial Estate, New Link Road, Off Vira Desai Road,
Azad Nagar, Andheri [West], Mumbai – 400053, Maharashtra, India |
|
Tel. No.: |
91-22-26360777 / 26361225 / 26365305 / 56924389 / 90 / 91 |
|
Fax No.: |
91-22-26365729 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branches : |
Located at :
|
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Chandrakant P. Shah |
|
Designation : |
Chairman |
|
Address : |
301, Deepak Villai Vallab Nagar, Vile Parle [West], Mumbai – 400056, |
|
Date of Birth/Age : |
08.05.1941 |
|
Date of Appointment : |
15.11.1984 |
|
|
|
|
Name : |
Ms. Shobhna C. Shah |
|
Designation : |
Director |
|
Address : |
301, Deepak Villai Vallab Nagar, Vile Parle [West], Mumbai – 400056, |
|
Date of Birth/Age : |
07.01.1979 |
|
Date of Appointment : |
01.04.1986 |
|
|
|
|
Name : |
Mr. Sowmil C. Shah |
|
Designation : |
Director |
|
Address : |
301, Deepak Villai Vallab Nagar, Vile Parle [West], Mumbai – 400056, |
|
Date of Birth/Age : |
07.11.1972 |
|
Date of Appointment : |
10.05.1995 |
KEY EXECUTIVES
|
Name : |
D. B. Karande and Company |
|
Designation : |
Company Secretary |
|
Address : |
13 Shree Niketan, Pandurang Wadi, Goregaon [East], Mumbai – 400063 16, Second Floor, Sathye Baug, |
|
Tel. No. : |
91-253-2310893 |
|
Mobile No.: |
91-33034079 |
|
Fax No.: |
91-253-28748861 |
|
Email : |
|
|
|
|
|
Name : |
Mr. P.R.Apte |
|
Designation : |
Grop General Manager |
|
Tel No.: |
91-22-26109405 |
|
Mobile No.: |
91-9892565701 |
|
|
|
|
Name : |
Mr. V.M. Kukalekar |
|
Designation : |
Manager |
|
Tel No.: |
91-22-8932643 |
|
Mobile No.: |
91-9892565703 |
|
|
|
|
Name : |
Mr. U.N. |
|
Designation : |
Manager |
|
Tel No.: |
91-22-2409958 |
|
Mobile No.: |
9892565704 |
|
|
|
|
Name : |
Mr.S.K. Padwal |
|
Designation : |
Service Incharge |
|
Tel No.: |
91-22-28411388 |
|
Mobile No.: |
9892565708 |
|
|
|
|
Name : |
Mr.P. Parmeshwar |
|
Designation : |
Service Administration |
|
Tel No.: |
- |
|
Mobile No.: |
91-9892565714 |
|
|
|
|
Name : |
Mr. R.A. Waingankar |
|
Designation : |
Service Engineer |
|
Tel No.: |
91-22-28769347 |
|
Mobile No.: |
91-9892565709 |
|
|
|
|
Name : |
Mr. K.V. Lanjekar |
|
Designation : |
Workshop Incharge |
|
Tel No.: |
91-22-28963915 |
|
Mobile No.: |
91-9892565715 |
|
|
|
|
Name : |
Mrs. M.J. Chaphekar |
|
Designation : |
Officer Workshop |
|
Tel No.: |
91-22-25168503 |
|
Mobile No.: |
91-9892565716 |
|
|
|
|
Name : |
Mr. S.M.Chavan |
|
Designation : |
Assistant Manager |
|
Tel No.: |
- |
|
Mobile No.: |
91-9892565723 |
|
|
|
|
Name : |
Mr.D.S.Chavan |
|
Designation : |
Assistant Manager |
|
Tel No.: |
- |
|
Mobile No.: |
91-9892565724 |
|
|
|
|
Name : |
Mr. S.P.Shah |
|
Designation : |
General Manager Finance |
|
Tel No.: |
91-56028732 |
|
Mobile No.: |
91-9892565719 |
|
|
|
|
Name : |
Mr .S.A. Shirtwale |
|
Designation : |
Edp Incharge |
|
Tel No.: |
91-22-28768990 |
|
Mobile No.: |
91-9892565720 |
|
|
|
|
Name : |
Mr. M.V.Borhade |
|
Designation : |
Manager Administration |
|
Tel No.: |
- |
|
Mobile No.: |
91-9892565725 |
|
|
|
|
Name : |
Mr.Shivaji |
|
Designation : |
Driver |
|
Tel No.: |
91-20564349 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Chandrakant P. Shah |
|
18600 |
|
Shobhna C. Shah |
|
15000 |
|
Sowmil C. Shah |
|
237120 |
|
Shilpa T Valia |
|
400 |
|
Chandrakant P. Shah – HUF |
|
148320 |
|
Shobhna .C.Shah – Trustee of Sowmil Trust |
|
78560 |
|
Deepa Shah |
|
2000 |
|
Total |
|
500000 |
AS ON 30.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
54.62 |
|
Other top fifty shareholders |
|
45.38 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Provides Technical Assistance for Selection of Engines, Technical
Review of Requirements, Installation Recommendations. |
GENERAL INFORMATION
|
No. of Employees : |
62 |
|||||||||||||||||||||
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|||||||||||||||||||||
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Bankers : |
|
|||||||||||||||||||||
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|||||||||||||||||||||
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Facilities : |
|
|
|
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Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
C. B. Pokle and Company Chartered Accountants |
|
Address : |
201, 2nd Floor, Chitrakoot, |
|
Tel No.: |
91-22-24322223/24 |
|
Fax No.: |
91-22-24322225 |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
750000 |
Equity Shares |
Rs. 10/- each |
Rs.7.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs. 10/- each |
Rs.5.000
Millions |
|
|
|
|
|
(Of the above shares 1,50,000 Equity (Previous Year 50000) Shares of Rs.10/-each Filly Paid – Up are Alloted as Bonus Shares by Capitalisation of Reserves)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
5.000 |
2.000 |
2.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
24.345 |
26.424 |
26.556 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
29.345 |
28.424 |
28.556 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
17.587 |
0.665 |
6.291 |
|
|
2] Unsecured Loans |
15.917 |
17.650 |
17.650 |
|
|
TOTAL BORROWING |
33.504 |
18.315 |
23.941 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.176 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
62.849 |
46.915 |
52.497 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
18.253 |
20.624 |
22.681 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
1.495 |
0.000 |
1.144 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
47.431
|
38.216 |
25.261 |
|
|
Sundry Debtors |
47.775
|
33.053 |
49.998 |
|
|
Cash & Bank Balances |
6.779
|
6.869 |
1.808 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
29.161
|
25.772 |
24.139 |
|
Total
Current Assets |
131.146
|
103.910 |
101.206 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
47.262
|
53.831 |
45.854 |
|
|
Other Current Liabilities |
19.784
|
10.530 |
6.221 |
|
|
Provisions |
20.999
|
13.258 |
20.459 |
|
Total
Current Liabilities |
88.045
|
77.619 |
72.534 |
|
|
Net Current Assets |
43.101
|
26.291 |
28.672 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
62.849 |
46.915 |
52.497 |
|
PROFIT & LOSS
ACCOUNT
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
Net Profit For the year |
8.598 |
3.601 |
14.178 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.14
|
3.37 |
3.37 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.49
|
1.33 |
3.52 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U34100MH1980PTC023181 |
|
Name of the
company |
C. S. DIESEL ENGINEERING PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
15, QRGH, Laxmi Industrial Estate, New Link Road, P O Azad Nagar,
Andheri [West], Mumbai – 400053, Maharashtra, India |
|
Type of charge |
|
|
Particular of
charge holder |
State Bank of Industrial
Finance Branch, Andheri [East] Snehal Chambers,
Telli Galli, Mumbai – 400069, |
|
Nature of
description of the instrument creating or modifying the charge |
|
|
Date of instrument
Creating the charge |
14.12.2006 |
|
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 Rs. 8.000
Millions 12.50 % Bank Guarantee :
Rs. 1.000 Millions Commission as
applicable All the above
facilities with the limits are payable on demand. |
|
Short particulars
of the property charged |
All present and
future stocks, raw materials, goods and vehicles and all other movable assets
of the borrower including receivables, documents of title to goods,
outstanding monies, bills, invoices, documents, contracts, insurance policies
guarantee. Engagements, Securities, investments and rights and the present
and future machinery. |
|
Corporate
identity number of the company |
U34100MH1980PTC023181 |
|
Name of the
company |
C S DIESEL
ENGINEERING PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
15, QRGH, Laxmi Industrial Estate, New Link Road, P O Azad Nagar,
Andheri [West], Mumbai – 400053, Maharashtra, India |
|
This form is for |
Creation of
charge Modification of
charge |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
CITIBANK N. A. |
|
Nature of
instrument creating charge |
a) Memorandum of
Entry b) Business Term
Loan Agreement. (Collectively
constitute a single charge for Rs.868.000 Millions) |
|
Date of
instrument Creating the charge |
15/06/2010 |
|
Amount secured by
the charge |
Rs.8.680 Millions
|
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest DLOF of Rs.8.680
Millions : 12.25%. Terms of
Repayment DLOF of Rs.8.680
Millions : Repayable in 60 monthly instalments. Margin As may be
stipulated by Bank from time to time. Extent and
Operation of the charge The company
created an equitable mortgage by way of deposit of title deeds in respect of
its immovable properties as described under Item No.15 as security for
repayment of Rs.8.680 Millions by C.S. Koraintra Engineering Private Limited
Borrower"), together with
interest, liquidated damages, costs, charges and expenses and all other
moneys due and payable by the Company to the Bank. |
|
Short particulars
of the property charged |
Immovable
properties bearing Plot No.R-253, TIL Industrial Area, MIDC, Rabale,
Off.Thane, Belapur Road, Navi Mumbai.400701. |
FIXED ASSETS
- Building
- Furniture and
Fixture
- Plant and
Machinery
- Electrical
Fitting
- Tools
- Air
Conditioners
- Computers
- Motors and
Vehicles
- Office
Equipments
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.45.20 |
|
|
1 |
Rs.73.70 |
|
Euro |
1 |
Rs.61.41 |
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 |
YES |
|
--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.