MIRA
INFORM REPORT
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Report Date : |
11.01.2011 |
IDENTIFICATION DETAILS
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Name : |
WELCOME ENVIRO ENGINEERS PRIVATE LIMITED |
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Registered
Office : |
CB-186A, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
27.07.2005 |
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Com. Reg. No.: |
55-139115 |
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CIN No.: [Company Identification
No.] |
U29299DL2005PTC139115 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Importer of West Water Treatment Plant
Products |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 13000 |
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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 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
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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. Sachin Argirish |
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Designation : |
General Manager |
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Contact No.: |
91-9313737277 |
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Date : |
08.01.2011 |
LOCATIONS
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Registered Office/ Factory : |
CB-186A, |
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Tel. No.: |
91-11-25778808/25770938/32528808/32658808 |
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Mobile No.: |
91-9313737277 (Mr. Sachin Argirish) |
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Fax No.: |
91-11-25776335 |
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E-Mail : |
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Website : |
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Area : |
3000 sq.ft |
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Location : |
Owned |
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Branches : |
Located at:
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DIRECTORS
As On 30.09.2010
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Name : |
Mr. Manoj Bakshi |
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Designation : |
Director |
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Address : |
B-59/B, Vijay Nagar, NCT of |
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Date of Birth/Age : |
30.07.1969 |
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Date of Appointment : |
27.07.2005 |
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DIN No. : |
00235771 |
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Name : |
Mr. Kamal Take Chand Dutt |
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Designation : |
Director |
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Address : |
5D, Block U and V, Shalimar Bagh, NCT of |
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Date of Birth/Age : |
27.09.1961 |
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Date of Appointment : |
01.04.2006 |
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DIN No. : |
00236058 |
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Name : |
Ms. Roma Dutt |
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Designation : |
Director |
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Address : |
5D, Block U and V, Shalimar Bagh, NCT of |
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Date of Birth/Age : |
17.10.1964 |
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Date of Appointment : |
27.07.2006 |
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DIN No. : |
00235920 |
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Name : |
Chanda Bakshi |
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Designation : |
Director |
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Address : |
B-59/B, Vijay Nagar, NCT of |
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Date of Birth/Age : |
15.04.1971 |
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Date of Appointment : |
27.07.2005 |
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DIN No. : |
00236004 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As On 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Manoj Bakshi |
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25000 |
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Roma Dutt |
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15000 |
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Chanda Bakshi |
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5000 |
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Kamal Dutt |
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5000 |
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Total |
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50000 |
As On 30.09.2010
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of West Water Treatment Plant
Products |
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Products : |
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Exports : |
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Products : |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash, Credit |
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Purchasing : |
L/C, Cash, Credit |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
25 (5 – In Office + 20 – In Factory) |
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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 : |
Nahata Jain and Associates Chartered Accountant |
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Address : |
13B, 3rd Floor, Netaji Subhash Marg, Daryaganj, |
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Tel. No.: |
91-11-23262052/41564161 |
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Pan No. : |
AAFFN4180M |
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CAPITAL STRUCTURE
As On 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs. 10/- 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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50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
0.500 |
0.500 |
0.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
2.667 |
2.119 |
1.361 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
3.167 |
2.619 |
1.861 |
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LOAN FUNDS |
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1] Secured Loans |
3.231 |
2.372 |
2.284 |
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2] Unsecured Loans |
0.140 |
0.000 |
0.000 |
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TOTAL BORROWING |
3.371 |
2.372 |
2.284 |
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DEFERRED TAX LIABILITIES |
0.007 |
0.014 |
0.018 |
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TOTAL |
6.545 |
5.005 |
4.163 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.598 |
0.250 |
0.266 |
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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 |
3.686
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2.363 |
1.410 |
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Sundry Debtors |
9.790
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9.354 |
5.428 |
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Cash & Bank Balances |
0.208
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0.165 |
0.288 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
1.834
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2.282 |
3.011 |
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Total
Current Assets |
15.518
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14.164 |
10.137 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
5.974
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5.902 |
4.262 |
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Other Current Liabilities |
4.329
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3.052 |
1.640 |
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Provisions |
0.268
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0.458 |
0.345 |
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Total
Current Liabilities |
10.571
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9.412 |
6.247 |
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Net Current Assets |
4.947
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4.752 |
3.890 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.003 |
0.007 |
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TOTAL |
6.545 |
5.005 |
4.163 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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Total
Income |
51.511 |
61.085 |
43.669 |
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Less |
EXPENSES |
50.336 |
59.801 |
42.476 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
1.175 |
1.284 |
1.193 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
0.339 |
0.069 |
0.075 |
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PROFIT BEFORE
TAX |
0.836 |
1.215 |
1.118 |
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Less |
TAX |
0.260 |
0.455 |
0.394 |
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PROFIT AFTER TAX
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0.576 |
0.760 |
0.724 |
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Prior period
adjustment |
0.028 |
0.002 |
0.010 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1.920 |
1.162 |
0.448 |
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BALANCE CARRIED
TO THE B/S |
2.468 |
1.920 |
1.162 |
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EARNINGS IN
FOREIGN CURRENCY |
1.235 |
5.290 |
6.504 |
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IMPORTS |
1.299 |
6.429 |
1.911 |
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Earnings Per
Share (Rs.) |
11.51 |
15.20 |
NA |
Expected Sales (2010-2011): Rs. 70.000 Millions
KEY RATIOS
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
1.12
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1.24 |
1.66 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.88
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8.43 |
10.75 |
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Return on Investment (ROI) (PBT/Networth) |
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0.26
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0.46 |
0.60 |
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Debt Equity Ratio (Total Liability/Networth) |
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4.40
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4.50 |
4.58 |
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Current Ratio (Current Asset/Current Liability) |
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1.47
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1.50 |
1.62 |
LOCAL AGENCY FURTHER INFORMATION
Trade References:
- Ion Exchange
(
- Fountas
Form 8:
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Corporate
identity number of the company |
U29299DL2005PTC139115 |
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Name of the
company |
Welcome Enviro
Engineers Private Limited |
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Address of the
registered office or of the principal place of business in |
CB-186A, |
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This form is for |
Creation of
charge |
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Type of charge |
Movable Property |
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Particular of
charge holder |
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Nature of
instrument creating charge |
Hypothecation of Tangible
Movable Machinery and Plant |
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Date of
instrument Creating the charge |
30.10.2010 |
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Amount secured by
the charge |
Rs. 6.000
millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Extent and Operation
of the charge - 100 percent. Others – The said charge
is hypothecated to collaterally secure following credit facilities granted by
the bank to the company :- 1. Cash Credit
(Hyp. of Stocks) - Rs.2.000 Millions
2. Cash Credit
(Hyp. of Book debts) - Rs.1.000 Millions Max. (1+2) - Rs.2.500 Millions 3. LC(I/F) DP/DA
90 days - Rs.0.500 Millions Max. (1+2+3) - Rs.3.000 Millions 4. WC Overdraft
limit - Rs.3.000 Millions Total - Rs.6.000 Millions |
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Particulars of
the property charged |
Hypothecation of
all tangible movable machinery and plant (both present ant future) whether
installed or not or whether lying loose or in cases at site or in transit or
which may at any time during the continuance of this security be installed
lying loose or in cases or being in upon about the borrower premises /godown
at Delhi or where ever else the same may be. |
Fixed Assets:
- Furniture and Fixtures
- Office Equipments
- Air conditioner
- Computer
- Cellular
- Motor car
AS PER WEB SITE DETAILS:
PROFILE:
Was established in the year 1995 by its Founder Director Mr. Manoj Bakshi and subsequently started its engineering division Subject with Mr. Kamal Dutt with a vision to cater the rising demand of environmental products in the country and abroad.
Now, they have gone one step ahead by opening there specialized division in the
field of environmental engineering to provide high quality products required for
water and waste water treatment plants. They are offering there products along
with all the technical backup and services from world's well renowned company
in environmental engineering
Subject is having technical tie up and are authorized as a marketing associate
of MIS IFU,
'WELCOME' with rich experience of 40 years of MIS IFU, Germany is capable to
design, erect and commission the complete diffused aeration system in WWTP/ETP
Subject plans a foray into being a complete solution provider to the various
industriesIOEMslconssultants etc. by increasing its range of products for
environmental engineering.
They started there engineering division with technical and marketing tie-up
with MIS Shanghai Trading Solutions International Company Limited for rubber
and steel expansion joints and today they have list of satisfied customers from
all types of industries such as cement, steel, chemicals, petrochemicals.
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
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Indian Rupees |
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US Dollar |
1 |
Rs.45.44 |
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1 |
Rs.70.61 |
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Euro |
1 |
Rs.58.63 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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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 |
YES |
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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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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
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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 |
|
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.