%20PRIVATE%20LIMITED%20-%20128991%2019-Jan-2011_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
19.01.2011 |
IDENTIFICATION DETAILS
|
Name : |
OCHRE DRILLERS ( |
|
|
|
|
Registered
Office : |
A-1, Vijay Apartments, Near Aradhana Chema, Pachakhadi, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
09.09.2003 |
|
|
|
|
Com. Reg. No.: |
142106 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74210MH2003PTC142106 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Service provider for ground drilling, ochre drillers and soil
investigation. |
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 24552 |
|
|
|
|
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. 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 |
INFORMATION PARTED BY
|
Name : |
Mrs. Sushma |
|
Designation : |
Accounts Department |
|
Date : |
11.01.2011 |
LOCATIONS
|
Registered Office : |
A-1, Vijay Apartments, Near Aradhana Chema, Pachakhadi, |
|
Tel. No.: |
91-22-25371020 |
|
Fax No.: |
91-22-25371020 |
|
E-Mail : |
|
|
Location : |
Owned |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Shekhar S Vaishampayan |
|
Designation : |
Director |
|
Address : |
30, Neelkhanth Krupa, Brahmin Society, Thane, |
|
Date of Birth/Age : |
30.12.1958 |
|
Qualification : |
IIT |
|
Date of Appointment : |
09.09.2003 |
|
|
|
|
Name : |
Mrs. Lalita Vaishampayan |
|
Designation : |
Director |
|
Address : |
Neelkhanth Krupa, Room No. 30, Brahmin Society, Thane, |
|
Date of Birth/Age : |
24.08.1963 |
|
Qualification : |
MA |
|
Date of Appointment : |
09.09.2003 |
|
|
|
|
Name : |
Ms. Renuka S Vaishampayan |
|
Designation : |
Director |
|
Address : |
AT-30, Brahmin Society, Thane, |
|
Date of Birth/Age : |
04.07.1987 |
|
Qualification : |
M Tech |
|
Date of Appointment : |
01.07.2010 |
KEY EXECUTIVES
|
Name : |
Mrs. Sushma |
|
Designation : |
Accounts Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Shekhar S Vaishampayan |
|
500 |
|
Lalita Vaishampayan |
|
500 |
|
Total |
|
1000 |
AS ON 30.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Service provider for ground drilling, ochre drillers and soil
investigation. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit |
|
|
|
|
Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Customers : |
|
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
No. of Employees : |
15 (In office) (Contract Workers 6) |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
Indian Overseas Bank, |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
D A Oak and Company Chartered Accountant |
|
Address : |
Sudha Sadan, |
|
|
|
|
Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000 |
Equity Shares |
Rs.100/- each |
Rs.0.500 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000 |
Equity Shares |
Rs.100/-
each |
Rs.0.100
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
Expected Sales (2010-2011) : Rs.35.000 Millions
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
6.038 |
4.625 |
3.058 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
6.138 |
4.725 |
3.158 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2.913 |
0.000 |
0.250 |
|
|
2] Unsecured Loans |
0.447 |
0.352 |
0.475 |
|
|
TOTAL BORROWING |
3.360 |
0.352 |
0.725 |
|
|
DEFERRED TAX LIABILITIES |
(0.027) |
(0.013) |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
9.471 |
5.064 |
3.883 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2.927 |
3.247 |
2.579 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.100 |
0.150 |
0.007 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.339
|
0.000 |
0.000 |
|
|
Sundry Debtors |
14.924
|
8.781 |
5.537 |
|
|
Cash & Bank Balances |
0.088
|
0.323 |
0.347 |
|
|
Other Current Assets |
0.262
|
0.075 |
0.329 |
|
|
Loans & Advances |
3.192
|
1.650 |
1.568 |
|
Total
Current Assets |
18.805
|
10.829 |
7.781 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
10.893
|
8.355 |
5.328 |
|
|
Other Current Liabilities |
1.150
|
0.529 |
0.989 |
|
|
Provisions |
0.318
|
0.278 |
0.167 |
|
Total
Current Liabilities |
12.361
|
9.162 |
6.484 |
|
|
Net Current Assets |
6.444
|
1.667 |
1.297 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
9.471 |
5.064 |
3.883 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Drilling In Job Work |
28.457 |
27.623 |
26.486 |
|
|
|
Other Income |
0.000 |
0.028 |
0.007 |
|
|
|
TOTAL (A) |
28.457 |
27.651 |
26.493 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Direct Expenses |
|
16.727 |
16.647 |
|
|
|
Administrative Expenses |
25.605 |
8.246 |
8.338 |
|
|
|
Selling and Distribution Expenses |
|
0.005 |
0.020 |
|
|
|
TOTAL (B) |
25.605 |
24.978 |
25.005 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2.852 |
2.673 |
1.488 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.166 |
0.078 |
0.121 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.686 |
2.595 |
1.367 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.551 |
0.574 |
0.477 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2.135 |
2.021 |
0.890 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.664 |
0.674 |
0.289 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
1.471 |
1.356 |
0.601 |
|
%20PRIVATE%20LIMITED%20-%20128991%2019-Jan-2011_files/image003.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
5.17
|
4.90 |
2.27 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.50
|
7.31 |
3.36 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.82
|
14.35 |
8.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.35
|
0.43 |
0.28 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.56
|
2.01 |
2.28 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.52
|
1.18 |
1.20 |
LOCAL AGENCY FURTHER INFORMATION
BUSINESS ACTIVITY:
During the year, the Company's net profit as Rs.1.471 Millions and now they are looking for further increment in their income to be received in the coming years. They assure their members that in the coming years they will strive hard to have more profits to the company.
Note:
The registered office address of the company has been shifted from Flat
No.1 Shivtirth Chs M Groad
Nr Jupiter Scam Centre, Naupada,
Thane (W) – 400602,
Form 8:
|
Corporate
identity number of the company |
U74210MH2003PTC142106 |
|
Name of the
company |
OCHRE DRILLERS ( |
|
Address of the
registered office or of the principal place of business in |
A-1, Vijay
Apartments , Near Aradhana Cinema, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts |
|
Particular of
charge holder |
INDIAN OVERSEAS
BANK |
|
Nature of
instrument creating charge |
Hypothecation of
Book Debts |
|
Date of
instrument Creating the charge |
24/11/2009 |
|
Amount secured by
the charge |
Rs.3.000 Millions
|
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest BPLR-1.5%
[Presently 10.50%] Terms of
Repayment Repayable on
demand Margin 50% Extent and
Operation of the charge Hypothecation of
Book debts, outstandings, moneys receivables, claims and bills which now due
and owing or which may at any time during the continuance of this security
become due and owing to the borrowers in course of its business. Others CC facility against
book debts up to 120 days is collaterally secured by Flat in name of
directors and personal guarantee by both directors. |
|
Short particulars
of the property charged |
Hypothecation of
Book debts, outstandings, moneys receivables, claims and bills which now due
and owing or which may at any time during the continuance of this security
become due and owing to the borrowers in course of its business. |
Fixed Assets:
- Computer
- Electrical
Fittings
- Furniture
- Plant and
Machinery
- Software
Trade References:
- Lodha Developers
- Bibi Shirke
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.45.53 |
|
|
1 |
Rs.72.55 |
|
Euro |
1 |
Rs.60.62 |
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.