MIRA
INFORM REPORT
|
Report Date : |
17.01.2011 |
IDENTIFICATION DETAILS
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Name : |
WOLLAQUE VENTILATION AND CONDITIONING PRIVATE LIMITED |
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Registered Office : |
Flat No. 204, Corporate Tower, 85-A, Zamrudpur, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
04.09.1995 |
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Com. Reg. No.: |
55-72136 |
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CIN No.: [Company
Identification No.] |
U74899DL1995PTC072136 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELW00605D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacture, Exporter and supplier of air
pollution, industrial ventilation equipments and other related systems |
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 32000 |
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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 dealing 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 |
LOCATIONS
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Registered Office : |
Flat No. 204, Corporate Tower, 85-A, Zamrudpur, |
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Tel. No.: |
91-11-26271149 |
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E-Mail : |
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Website : |
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Factory : |
A-45, Secot-83, Phase II, Gautam Budh Nagar, Noida – 201 301, |
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Tel. No.: |
91-120-2460644 / 45 / 46 / /47 |
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Fax No.: |
91-120-2460642 |
DIRECTORS
As On : 30.09.2010
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Name : |
Mr. Ravinder Mattoo |
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Designation : |
Director |
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Address : |
18-A, Nilgiri Apartments, Part-I, C-72, Sec-34, Noida – 201 303, |
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Date of Birth/Age : |
02.11.1962 |
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Date of Appointment : |
04.09.1995 |
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DIN No: |
00353148 |
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Name : |
Mrs. Anita Mattoo |
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Designation : |
Director |
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Address : |
18-A, Nilgiri Apartments, Part-I, C-72, Sec-34, Noida – 201 303, |
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Date of Birth/Age : |
04.01.1964 |
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Date of Appointment : |
31.08.2005 |
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DIN No: |
00860667 |
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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Mr. Ravinder Mattoo |
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95000 |
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Mrs. Anita Mattoo |
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5000 |
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Total |
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100000 |
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 |
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100.00 |
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Total
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacture, Exporter and supplier of air
pollution, industrial ventilation equipments and other related systems |
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Products : |
·
Centrifugal Blowers ·
Axial Flow Fans ·
High Pressure Two Stage Tunnel
Ventilation Fans ·
Air Cooling Plants ·
Pressurization Plants ·
Humidification Systems ·
Air Washer Systems ·
Dust Extraction Systems ·
Fume Extraction Systems ·
Bag Filters ·
Cyclones ·
Scrubbers ·
Energy Saving Cellulose Cooling Plants ·
Air Conditioning Systems ·
Motor Ventilation Systems ·
Automatic Air Filters ·
Chilling Systems ·
Multicyclones for Flue Gases ·
Heating Systems ·
Dehumidification Systems ·
Pneumatic Conveying Systems ·
Rotary Air Locks ·
Screw Conveyors ·
Belt Conveyors ·
Silos ·
Blenders ·
Vibro Screens
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GENERAL INFORMATION
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Customers : |
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No of Employees : |
42 (Approximately) |
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Bankers : |
· The P-2,
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Facilities : |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Bhupinder Shah and Company Chartered Accountant |
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Address : |
C-12, Raj Nagar, C H B S, Pitampura, |
CAPITAL STRUCTURE
As On : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000
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 |
1.000 |
1.000 |
1.000 |
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2] Share Application Money |
0.000 |
0000 |
0000 |
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3] Reserves & Surplus |
7.194 |
4.887 |
3.557 |
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4] (Accumulated Losses) |
0.000 |
0000 |
0000 |
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NETWORTH |
8.194 |
5.887 |
4.557 |
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LOAN FUNDS |
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1] Secured Loans |
0.390 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.390 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.006 |
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TOTAL |
8.584 |
5.887 |
4.563 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
6.098 |
6.089 |
5.341 |
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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 |
0.018 |
0.003 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
1.979
|
1.914
|
1.109 |
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Sundry Debtors |
15.090
|
16.402
|
12.526 |
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Cash & Bank Balances |
18.331
|
16.814
|
16.106 |
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Loans & Advances |
7.135
|
2.068
|
1.731 |
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Total
Current Assets |
42.535
|
37.198
|
31.472 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
34.557
|
32.507 |
25.205 |
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Other Current Liabilities |
4.581
|
3.830
|
6.244 |
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Provisions |
0.930
|
1.066
|
0.801 |
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Total
Current Liabilities |
40.068
|
37.403
|
32.250 |
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Net Current Assets |
2.468
|
(0.205)
|
(0.778) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
8.584 |
5.887 |
4.563 |
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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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Income |
45.361 |
56.847 |
44.561 |
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Other Income |
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TOTAL (A) |
45.361 |
56.847 |
44.561 |
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Less |
EXPENSES |
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Office Expenses |
41.678 |
53.924 |
42.368 |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL (B) |
41.678 |
53.924 |
42.368 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
3.683 |
2.923 |
2.193 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.740 |
0.720 |
0.583 |
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PROFIT BEFORE
TAX (E-F) (G) |
2.943 |
2.203 |
1.610 |
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Less/ Add |
PROVISION FOR
GRATUITY |
(0.278) |
0.094 |
0.033 |
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Less |
TAX (H) |
(0.946) |
0.779 |
0.613 |
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PROFIT AFTER TAX
(G-H) (I) |
2.307 |
1.330 |
0.964 |
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Earnings Per
Share (Rs.) |
23.07 |
13.30 |
9.640 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
5.08
|
2.33 |
21.63 |
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Net Profit Margin (PBT/Sales) |
(%) |
6.49
|
3.88 |
3.61 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
6.05
|
5.09 |
2.53 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.36
|
0.37 |
0.35 |
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Debt Equity Ratio (Total Liability/Networth) |
|
4.94
|
6.35 |
7.07 |
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Current Ratio (Current Asset/Current Liability) |
|
1.06
|
0.99 |
0.98 |
LOCAL AGENCY FURTHER INFORMATION
Note :-
The Registered Office of the company has been shifted from M-38, Chittaranjan Park, Basement, New Delhi
– 110 019, Delhi, India to the present address w. e. f. 01.09.2008
FORM 8
|
Corporate
identity number of the company |
U74899DL1995PTC072136 |
|
Name of the
company |
WOLLAQUE VENTILATION AND CONDITIONING PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
Flat No. 204, Corporate Tower, 85-A, Zamrudpur, |
|
This form is for |
Modification of
charge |
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Type of charge |
Book debts Movable property
(not being pledge) |
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Particular of
charge holder |
The Jammu and Kashmir Bank Limited P-2, |
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Nature of
instrument creating charge |
Deed of
Hypothecation |
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Date of instrument
Creating the charge |
25.03.2010 |
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Amount secured by
the charge |
Rs.15.000
millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Bank Guarantee
Only. Terms of repayment Till Final Adjustment Margin 15% Extent and operation of the charge Till Bank
Guarantee Liquidated in Full. |
|
Short particulars
of the property charged (Including location of the property) |
All the Assets of
the company. |
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Charge identification
number of the charge to be modified |
10067816 |
|
Date of
instrument modifying the charge |
15.09.2007 |
|
Particulars of
the present modification |
Limit Increased
to Rs. 15.000 millions |
FIXED ASSTES
- Plant and Machinery
- Electrical Equipments
- Office Equipments
- Computers
- Furniture and Fixtures
- Vehicles : Cars
- Vehicles : Others
- Land
- Building
WEB SIDE DETAILS
PROFILE :
Subject is dedicated to design, engineering, manufacture and installation of air pollution, industrial ventilation and other related systems. The WVC GROUP began operation on a modest note in 1991 and today across the past of 12 years has steadily grown to a Company having a turn over of Rs.130.00 millions. The Company today employs 40 persons of which15 are qualified engineers from various disciplines of engineering, manning the departments of design, manufacturing, project management and implementation and after-sales services. Besides Air Pollution Control System, the other major equipments being manufactured by the Company are:
·
Centrifugal Blowers
·
Air Cooling/Pressurization Plants
·
Bag Filters, Cyclones, Scrubbers
·
Motor Ventilation Systems
·
Multicyclones for Flue Gases
·
Rotary Air Locks
·
Silos
·
Hoppers
·
Axial Flow Fans
·
Humidification/Air Washer Systems
·
Energy Saving Cellulose Cooling Plants
·
Automatic Air filters
·
Heating/Dehumidification Systems
·
Screw Conveyors
·
Blenders
·
High Pressure Two Stage Tunnel Ventilation Fans
·
Dust/Fume Extraction Systems
·
Air Conditioning Systems
·
Chilling Systems
·
Pneumatic Conveying Systems
·
Belt Conveyors
·
Vibro Screens
DESIGN AND ENGINEERING FACILITIES
The
design and engineering related facilities of the company are located at the
Head Office. Engineers and other staff exclusively dedicated to these sections
of the organization are 8 persons. Many aspects of the basic engineering and
design of the Ventilation Systems, Air Pollution control and other products of
the company are computerized.
The
WVC GROUP has 2 closely located factories in
The total
shop floor area available exceeds 1500 Sq. Mtrs. The number of persons devoted
to the manufacturing requirement of the Company is approximately 20 people
including engineers.
EXPERIENCE IN THE FIELD OF PNEUMATIC MATERIAL HANDLING SYSTEM
Subject has been extensively
involved with design, engineering, manufacturing and commissioning of Pneumatic
Material Handling Systems. Till date they have gained hands on experience in
handling over 45 different types of materials. Systems capacities, design, manufacturing
and projects successfully commissioned projects range between 500-25000 kgs/hr.
The
Material Handling Systems successfully engineered and supplied till date
include basic design related Lean Phase Pressure or Vacuum Systems and Dense
Phase Pneumatic Conveying Systems.
EXPERIENCE IN THE
FIELD OF AIR POLLUTION AND CENTRIFUGAL BLOWERS
Subject has been
extensively involved with design, engineering, manufacturing and commissioning
of Air Pollution Control Systems. Till date they have gained hands on experience
in handling over 65 different types of materials. System capacities, design,
manufacturing and projects successfully commissioned projects range between few
CMH to 2,00,000 CMH. The Pollution Control Systems successfully engineered and
supplied till date include basic design related to Multicyclones Bag Filters,
cyclones and Scrubbers.
TEST FACILITIES
Air
Pollution Control Systems for good engineering design leading to reliable
detailed engineering, on many occasions require close study of specific
material's handling characteristics. Whenever in any doubt, we always spend the
necessary time, attention and make studies observations with trials of the
material handling characteristics. For this, they have made available dedicated
equipments to conduct simulation trials. They also have elaborate testing
facilities for blowers.
The
simulation test data for past jobs and on-going projects provides us valuable
engineering data and characteristics otherwise not available in printed books
and journals.
They proud
to say that WOLLAQUE makes available test facilities and data to its clients
even on preliminary stages of quotation or contract evaluation without any
financial impact on the end user.
TECHNICAL
DOCUMENTATION FOR PROJECTS
They are reasonably qualified
in developing drawings and correlating technical documentation, which may of
their customers and consultant clients
does require for efficient execution of large projects.
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.45.30 |
|
|
1 |
Rs.71.73 |
|
Euro |
1 |
Rs.60.40 |
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 |
NO |
|
--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.