MIRA
INFORM REPORT
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Report Date : |
13.07.2011 |
IDENTIFICATION DETAILS
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Name : |
LEVCON CONTROLS PRIVATE LIMITED |
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Registered Office : |
Rajkamal, 6th Floor, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
04.08.1986 |
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Com. Reg. No.: |
21-041051 |
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Paid-up Capital : |
Rs. 0.100 Million |
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CIN No.: [Company
Identification No.] |
U51909WB1986PTC041051 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CALL01630G |
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PAN No.: [Permanent
Account No.] |
AAACL4808N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Electronic Level Measuring Instruments. |
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No. of Employees : |
150 (approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 3000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company having moderate track.
Profitability of the company appears to be low. However, trade relations are
reported as a fair. Business is active. Payments are reported to be slow. The company can be considered for small to mediocre 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. B Jana |
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Designation : |
Export Manager |
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Contact No.: |
91-9831826885 |
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Date : |
12.07.2011 |
LOCATIONS
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Registered Office : |
Rajkamal, 6th Floor, |
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Tel. No.: |
91-33-22832766/30225767/23438528/4325/30229368 |
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Mobile No.: |
91-9831826885 (Mr. B Jana) |
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Fax No.: |
91-33-22832719/23442680/22809645 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory : |
138 K, |
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Tel. No.: |
91-33-2343 4325 / 8528 |
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Fax No.: |
91-33-23442680 |
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Location : |
Owned |
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Branch: |
301, Protoprima Chambers 1, |
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Tel. No.: |
91-22-2683 2127 / 2683 3015 |
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Fax No.: |
91-22-2683 3015 |
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Representative Office ( |
House No. 23/6/121, Haribowli, |
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Tel. No.: |
91-40-2441 2024 |
DIRECTORS
AS ON 30.09.2010
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Name : |
Mr. Satrajit Gupta |
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Designation : |
Whole Time Director |
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Address : |
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Date of Birth/Age : |
18.06.1935 |
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Date of Appointment : |
04.08.1986 |
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DIN No.: |
00884102 |
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Election Commission Identity Card No. |
WB / 23 / 149 / 399687 |
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Name : |
Mr. Arun Kumar Ghosh |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
18.11.1938 |
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Date of Appointment : |
08.08.1986 |
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DIN No.: |
00884131 |
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Election Commission Identity Card No. |
WB / 31 / 144 / 291135 |
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Name : |
Mr. Sayak Gupta |
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Designation : |
Whole Time Director |
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Address : |
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Date of Birth/Age : |
09.08.1973 |
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Date of Appointment : |
20.11.2000 |
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DIN No.: |
01351719 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
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Names of Shareholders |
No. of Shares |
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Satrajit Gupta |
850 |
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800 |
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Arun Kumar Ghosh |
1200 |
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Jyotirmoyee Ghosh |
2100 |
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Ibha Lahiri |
300 |
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Usha Ghosh |
100 |
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Surabhi Bhattachary |
200 |
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Jayanta Choudhury |
700 |
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Sudeshna Ghosh |
200 |
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Steel and Work Craft |
50 |
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Shayak Gupta |
1050 |
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Arun Kumar Bhaduri |
100 |
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Shimonti Gupta |
350 |
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Sagnik Gupta |
400 |
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Reshmi Gupta |
350 |
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Monami Chowdhury |
600 |
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Surajit Ghosh |
100 |
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Indra Nath Lahiri |
500 |
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Dhanpat Brothers Company |
50 |
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Total |
10000 |
AS ON 30.09.2010
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Category |
Percentage |
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Directors or relatives of Directors |
83.00 |
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Other top fifty shareholders |
17.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Electronic Level Measuring Instruments |
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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 and Credit: 30 Days |
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Purchasing : |
L/C, Cash and Credit: 30 Days |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
150 (approximately) |
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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 : |
S Ghosh and Company Chartered Accountants |
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Address : |
2, |
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Tel No.: |
91-33-23521958 |
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Mobile No.: |
91-9830463126 |
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Fax No.: |
91-33-23521959 |
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Email : |
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Pan No.: |
AAOFS3331G |
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Associates/Subsidiaries : |
·
Levcon Instruments Private Limited Factory
Address : 41/1/3, Tel
No. : 91-33-2343 4954 / 2343 8572 ·
Levcon Valves Private Limited |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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49000 |
Equity Shares |
Rs.10/- each |
Rs.0.490 million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
million |
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As on 30.09.2010
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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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
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 |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.663 |
0.425 |
0.262 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
0.763 |
0.525 |
0.362 |
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LOAN FUNDS |
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1] Secured Loans |
0.410 |
0.517 |
0.000 |
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2] Unsecured Loans |
0.225 |
0.255 |
0.378 |
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TOTAL BORROWING |
0.635 |
0.772 |
0.378 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1.398 |
1.297 |
0.740 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.111 |
0.073 |
0.063 |
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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 |
0.875
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0.951
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0.848
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Sundry Debtors |
4.433
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4.421
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2.048
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Cash & Bank Balances |
0.359
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0.233
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0.215
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Other Current Assets |
0.000
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0.000
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0.024
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Loans & Advances |
0.544
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0.341
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0.256
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Total
Current Assets |
6.211
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5.946
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3.391
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Less : CURRENT LIABILITIES
& PROVISIONS |
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Sundry Creditors |
3.644
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3.127
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1.379
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Others Current Liabilities |
0.881
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1.318
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1.162
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Provisions |
0.399
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0.277
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0.173
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Total
Current Liabilities |
4.924
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4.722
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2.714
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Net Current Assets |
1.287
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1.224
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0.677
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1.398 |
1.297 |
0.740 |
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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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Turnover |
12.280 |
9.220 |
5.878 |
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EXPENSES |
11.894 |
8.931 |
5.687 |
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PROFIT BEFORE
TAX |
0.386 |
0.289 |
0.191 |
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Less |
TAX |
NA |
NA |
0.076 |
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PROFIT AFTER TAX
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NA |
NA |
0.115 |
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Particulars |
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31.03.2011 |
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Sales Turnover (Approximately) |
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12.700 |
Expected Sales (2011-12) : Rs.180.000 Millions
The above information has been parted by Mr. B Jana
KEY RATIOS
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PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
NA
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NA |
1.96 |
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Net Profit Margin (PBT/Sales) |
(%) |
3.14
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3.13
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3.25
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Return on Total Assets (PBT/Total Assets} |
(%) |
6.11
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4.80
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5.53
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Return on Investment (ROI) (PBT/Networth) |
|
0.51
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0.55
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0.53
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Debt Equity Ratio (Total Liability/Networth) |
|
7.29
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10.46
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7.50
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Current Ratio (Current Asset/Current Liability) |
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1.26
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1.25
|
1.25
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LOCAL AGENCY FURTHER INFORMATION
State of
During the year the company has achieved a turnover of Rs. 12.280 millions
as compared to previous year turnover of Rs. 9.220 millions and profit of
Rs.0.386 millions. The Board of directors is pleased to recommend dividend of
20%. Staffs get 20% bonus.
Fixed Assets
·
Plant, Machinery and Testing Equipments
·
Furniture and Fixture
·
Computer Machine
·
Air Conditioner Machine
·
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 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.44.69 |
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|
1 |
Rs.70.87 |
|
Euro |
1 |
Rs.62.26 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
2 |
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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 |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
27 |
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.