MIRA
INFORM REPORT
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Report Date : |
14.05.2011 |
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Tel. No.: |
91-120-4625500/ 4625535 |
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Fax No.: |
91-120-4337534 |
IDENTIFICATION DETAILS
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Name : |
SUPER CRYOGENIC SYSTEMS PRIVATE LIMITED |
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Formerly Known As : |
SUPER CRYOGENIC SYSTEMS AND INDUSTRIAL GASES PRIVATE LIMITED |
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Registered Office : |
Flat No. 799, Pocket 5, Mayur Vihar Phase- I, |
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Country : |
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Financials (as on) : |
31.03.2009 |
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Date of Incorporation : |
10.01.1996 |
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Com. Reg. No.: |
55- 75387 |
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Paid-up Capital : |
Rs. 0.500 Million |
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CIN No.: [Company
Identification No.] |
U35303DL1996PTC075387 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter and Importer of Vessels |
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No. of Employees : |
125 (approximately) |
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 8000 |
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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 commitment. 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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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
|
Name : |
Mr. Deepak Rajotia |
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Designation : |
Chief Executive Office |
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Mobile No.: |
91-9811089578 |
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Date : |
12.05.2011 |
LOCATIONS
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Registered Office : |
Flat No. 799, Pocket 5, Mayur Vihar Phase- I, |
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Tel. No.: |
91-120-4625500/ 4625535 |
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Mobile No.: |
91-9811089578 (Mr. Deepak Rajotia) |
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Fax No.: |
91-120-4337534 |
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E-Mail : |
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Area : |
850 sq. ft. |
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Location : |
Owned |
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Factory : |
C-18-19, Sector – 8, Noida- 201301, |
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Tel. No.: |
91-120-4625500/ 4625535/ 2424079/ 2424080/ 2424559/ 3914024 |
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Fax No.: |
91-120-4307534/ 2424529/ 4625535 |
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Area : |
1600 Sq. Ft. |
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Location : |
Owned |
DIRECTORS
As On 30.09.2008
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Name : |
Mr. Banwari Lal Sharma |
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Designation : |
Director |
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Address : |
D -47, Sector- 55, GB Nagar, Noida- 201301, Uttar Pradesh, India |
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Date of Birth/Age : |
06.11.1943 |
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Date of Appointment : |
10.01.1996 |
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Name : |
Mr. Prakash Rajotia |
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Designation : |
Director |
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Address : |
D -47, Sector- 55, GB Nagar, Noida- 201301, Uttar Pradesh, India |
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Date of Birth/Age : |
17.08.1972 |
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Qualification : |
Graduate |
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Date of Appointment : |
13.09.2002 |
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Name : |
Mr. |
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Designation : |
Director |
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Address : |
C -118, Greater Kailash, Part- I, |
KEY EXECUTIVES
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Name : |
Mr. Deepak Rajotia |
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Designation : |
Chief Executive Office |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2008
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Names of Shareholders |
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No. of Shares |
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Sharma Lal Banwari |
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3203 |
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Sharma Shanti |
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1200 |
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Rajotia Deepak |
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100 |
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Sharma Kusum |
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100 |
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Rajotia Kanwal |
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100 |
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Sharma Neelam |
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100 |
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Rajotia Prakash |
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200 |
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Deepak Fabrication |
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1 |
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Total |
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5004 |
AS ON 30.09.2008
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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 Vessels |
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Products : |
·
Vacuum Insulated Cryogenic Tanks ·
Ammonia Storage Tank ·
Liquid Carton Dioxide Storage and Transport
Systems ·
Ammonia. LPG, Propane Storage Tanks and Allied
Systems ·
Pressure Vessels, Heat Exchangers, Reactors,
Vaporizers ·
Turnkey Cylinder Filling Stations ·
Process Pipeline Back-up Systems ·
Atmospheric Vaporizers, Phase Separators, Cryo
Treatment Units, etc. ·
Cylinder Filling Manifolds ·
Cylinder Test Stations. |
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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 : |
Cash, Credit: 30 to 45 Days |
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Purchasing : |
Cash, Credit: 30 to 45 Days |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
125 (approximately) |
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Bankers : |
·
Corporation Bank, SME Branch, Sector- 18, Noida –
201301, ·
Citi Bank, Sector- 4 ·
ICICI Bank |
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Facilities : |
Cash Credit – Rs.3.000 Millions
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Ramkrishna and Company Chartered Accountant |
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Address : |
D-63, Panchsheel Enclave, |
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PAN No.: |
AAAFR5490F |
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Tel. No.: |
91-11-26490788/ 26490366/ 41749399 |
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Fax No.: |
91-11-26490366/ 26490368 |
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E-Mail : |
CAPITAL STRUCTURE
As On 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.100/- 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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|
5004 |
Equity Shares |
Rs.100/- Each |
Rs.0.500
million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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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 |
1.497 |
0.900 |
0.258 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.997 |
1.400 |
0.758 |
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LOAN FUNDS |
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1] Secured Loans |
1.053 |
0.622 |
1.122 |
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2] Unsecured Loans |
0.730 |
0.730 |
0.730 |
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TOTAL BORROWING |
1.783 |
1.352 |
1.852 |
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DEFERRED TAX LIABILITIES |
0.270 |
0.127 |
0.109 |
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TOTAL |
4.050 |
2.879 |
2.719 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
16.394 |
16.079 |
11.994 |
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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 |
9.079
|
19.547
|
7.512 |
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Sundry Debtors |
21.342
|
16.908
|
19.614 |
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Cash & Bank Balances |
7.802
|
4.936
|
5.393 |
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Other Current Assets |
0.473
|
0.000
|
0.000 |
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Loans & Advances |
10.185
|
12.756
|
8.459 |
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Total
Current Assets |
48.881
|
54.147
|
40.978 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
60.362
|
66.712
|
49.809 |
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Provisions |
0.865
|
0.635
|
0.444 |
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Total
Current Liabilities |
61.227
|
67.347
|
50.253 |
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Net Current Assets |
(12.344)
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(13.200)
|
(9.275) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
4.050 |
2.879 |
2.719 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SALES |
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Income |
126.100 |
92.695 |
93.944 |
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Other Income |
NA |
2.350 |
1.704 |
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TOTAL (A) |
NA |
95.045 |
95.648 |
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Less |
EXPENSES |
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Raw Material Consumed |
|
76.959 |
64.921 |
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Manufacturing Expenses |
|
16.960 |
18.031 |
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Payments to and Provision for Employee |
|
4.723 |
4.177 |
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Administrative Expenses |
|
4.121 |
3.988 |
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Debit Balance Written Off |
|
0.389 |
0.465 |
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Increase/(Decrease) in Finished Goods |
|
(10.616) |
2.476 |
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TOTAL (B) |
NA |
92.536 |
94.058 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
2.509 |
1.590 |
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Less |
FINANCIAL
EXPENSES (D) |
|
0.396 |
0.270 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
2.113 |
1.320 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.963 |
0.861 |
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PROFIT BEFORE
TAX (E-F) (G) |
1.477 |
1.150 |
0.459 |
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Less |
TAX (I) |
0.735 |
0.490 |
0.432 |
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PROFIT AFTER TAX
(G-I) (J) |
0.742 |
0.660 |
0.027 |
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Earnings Per
Share (Rs.) |
133 |
132 |
5 |
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Particulars |
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|
31.03.2010 |
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Sales Turnover |
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|
140.000 |
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Expected Sales (2011-12) : Rs. 160.000 Millions
The above information has been parted by Mr. Deepak
KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
NA |
0.69 |
0.03 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.17 |
1.24 |
0.49 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.26 |
1.64 |
0.87 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.74 |
0.82 |
0.61 |
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Debt Equity Ratio (Total Liability/Networth) |
|
31.55 |
48.11 |
66.30 |
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Current Ratio (Current Asset/Current Liability) |
|
0.80 |
0.80 |
0.82 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
The registered office of the company has been shifted from Flat No.-2,
Pocket -5, Mayur Vihar, Phase-I,
PERFORMANCE:
Company have achieved the turnover of Rs.126.100 Millions which is
higher than previous year and boked profit of Rs.1.477 Millions (before
taxation.)
TRADE REFERENCE
- Bharat Gas
FROM 8
|
Name of the company |
SUPER CRYOGENIC SYSTEMS (P) LIMITED |
|
Presented By |
Shri B. L.
Sharma, Director |
|
1) Date and description of instrument creating the change |
Common deed of hypothecation
of movable / assets/ debts dated 25.06.1999 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.0.450 million |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Movables/ Assets/
Book Debts situated at C- 18,19, Sector- 8, Noida (Uttar Pradesh) |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Interest 16.32%
P. Being 4.32% Over and above the Bank’s PLR, Which is 12% p.a as at present
rising or falling with the bank’s PLR |
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5) Name and Address and description of the person entitled to the charge. |
Corporation Bank,
SME Branch, G-28,
29, Sector- 18, Noida-201301, |
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6) Date and brief description of instrument modifying the charge |
NA |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
NA |
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U35303DL1996PTC075387 |
|
Name of the
company |
Super Cryogenic Systems Private Limited |
|
Address of the
registered office or of the principal place of business in |
Flat No. 799, Pocket 5, Mayur Vihar Phase- I, |
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Type of charge |
Book Debts Movable Property |
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Particular of
charge holder |
Corporation Bank SME Branch,
Sector- 18, Noida-201301, E-Mail: mallyashenoyca@rediffmail.com
|
|
Nature of
description of the instrument creating or modifying the charge |
Common deed of
hypothecation of movables, assets, debts |
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Date of
instrument Creating the charge |
17.09.2007 |
|
Amount secured by
the charge |
Rs.3.000 millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest on cash
credit loan @11.75% p.a being 1.50% below the bank’s COBAR which is 13.25%
p.a as at present with rising or falling with the bank’s COBAR during the
currency of the loan period for value received and commission of B.G as per
bank’s prescribed rules. Terms of Repayment As per sanction
terms Margin As per sanction
terms Extent and Operation of the charge The hypothecated
assets is to secure following credit limits granted by the bank to the
company. 1 CCSDL limit of
Rs.0.500 million 2. OD limit of
Rs.0.500 million 3. Bank guarantee
limit of Rs.2.000 millions. Aggregating limit of Rs.3.000 millions |
|
Short particulars
of the property charged |
Hypothecation of
stock, book- debts and movables fixed assets of the company both present and
future |
FIXED ASSETS
·
Air conditioner
·
Crane
·
Land and Site
developments
·
Building
·
Plant and Machinery
·
Generator
·
Motor Car
·
Office Automaton
·
Scooter
·
Cycle
·
Water cooler
·
Books (technical)
·
Furniture
·
Refrigerator
·
Computer
·
Photocopy Machine
·
Television
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.44.91 |
|
|
1 |
Rs.73.06 |
|
Euro |
1 |
Rs.64.03 |
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 |
YES |
|
--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.