1. Summary Information
|
|
|
Country |
India |
|
Company Name |
GS ATWAL AND CO
ENGINEERS PRIVATE LIMITED |
Principal Name 1 |
Mr. Hariminder Singh Atwal |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Rupinder Kaur Atwal |
|
|
|
Registration # |
18-026983 |
|
Street Address |
4B, Little
Russell Street, Kolkata – 700071, West Bengal, India |
||
|
Established Date |
02.01.1967 |
SIC Code |
-- |
|
Telephone# |
91-33-2282-6468 /
9407 / 3157 |
Business Style 1 |
Construction Activity |
|
Fax # |
91-33-2282-8262 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
-- |
|
|
# of employees |
-- |
Product Name 2 |
-- |
|
Paid up capital |
Rs. 224269500 /- |
Product Name 3 |
-- |
|
Shareholders |
Directors or
relatives of Directors – 100% |
Banking |
UCO BANK, MID
Corporate Branch, 10, B. T. M. Sarani (Brabourne Road) Kolkata – 700001, West
Bengal, INDIA |
|
Public Limited Corp. |
NO |
Business Period |
43 Years |
|
IPO |
NO |
International Ins. |
-- |
|
Public |
NO |
Rating |
Ba (51) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
569,385,000 |
Current Liabilities |
295,133,000 |
|
Inventories |
36,626,000 |
Long-term Liabilities |
921,626,000 |
|
Fixed Assets |
872,704,000 |
Other Liabilities |
-- |
|
Deferred Assets |
67,699,000 |
Total Liabilities |
1,216,759,000 |
|
Invest& other Assets |
48,315,000 |
Retained Earnings |
153,707,000 |
|
|
|
Net Worth |
377,970,000 |
|
Total Assets |
1,594,729,000 |
Total Liab. & Equity |
1,594,729,000 |
|
Total Assets (Previous Year) |
1,790,908,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
1,425,149,000 |
Net Profit |
28,622,000 |
|
Sales(Previous yr) |
1,564,206,000 |
Net Profit(Prev.yr) |
15,650,000 |
MIRA
INFORM REPORT
|
Report Date : |
28.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
GS ATWAL AND CO ENGINEERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
4B, Little Russell Street, Kolkata – 700071, West Bengal |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
02.01.1967 |
|
|
|
|
Com. Reg. No.: |
18-026983 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.224.263 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45209WB1967PTC026983 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALG04623D |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Construction Activity |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (51) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1510000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
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 |
LOCATIONS
|
Registered Office : |
4B, Little Russell Street, Kolkata – 700071, West Bengal, India |
|
Tel. No.: |
91-33-2282-6468 / 9407 / 3157 |
|
Fax No.: |
91-33-2282-8262 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
Empire Plaza, Sultanpur, Mehrauli – Gurgaon Road, New Delhi – 110030, Delhi,
India |
|
Tel. No.: |
91-11-2680-2619/2473 |
|
Fax No.: |
91-11-2680-2584 |
|
|
|
|
Branch Office : |
Located At ·
Sukinda ·
ICML ·
Burnpur ·
Ghatotand |
DIRECTORS
AS ON 19.08.2010
|
Name : |
Mr. Hariminder Singh Atwal |
|
Designation : |
Managing Director |
|
Address : |
4 B, Little Russell Street, Kolkata – 700071, West Bengal, India |
|
Date of Birth/Age : |
06.10.1943 |
|
PAN No.: |
ADADA5446K |
|
Date of Appointment : |
23.10.1967 |
|
|
|
|
Name : |
Mr. Rupinder Kaur Atwal |
|
Designation : |
Whole Time Director |
|
Address : |
4 B, Little Russell Street, Kolkata – 700071, West Bengal, India |
|
Date of Birth/Age : |
21.09.1946 |
|
PAN No.: |
AKNPK3984E |
|
Date of Appointment : |
01.04.2009 |
|
|
|
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 19.08.2010
|
Names of Shareholders |
|
No. of Shares |
|
Hariminder Singh Atwal |
|
850560 |
|
Rupinder Kaur Atwal |
|
508500 |
|
Arjun Singh Atwal |
|
561450 |
|
Govind Singh Atwal |
|
117450 |
|
Harminder Singh Atwal Karta of
Has and Sons (HUF) |
|
197175 |
|
Simran Atwal |
|
7500 |
|
|
|
|
|
Total |
|
2242635 |
AS ON 19.08.2010
|
Category |
Percentage |
|
|
|
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Construction Activity |
|
|
|
GENERAL INFORMATION
|
Bankers : |
·
UCO
BANK, MID Corporate Branch, 10, B. T. M. Sarani (Brabourne Road) Kolkata –
700001, West Bengal, INDIA ·
UCO
Calcutta – Tod ·
IIBI
Limited ·
Standard
Chartered Bank ·
Citi
Bank ·
HDFC
Bank ·
ICICI
Bank |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
P. Mukhopadhyay and Company Chartered Accountant |
|
Address : |
12-B, Netaji Subhas Road, Kolkata – 700069, West Bengal, India |
|
Tel. No.: |
91-033-22309285 / 22428856 |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2575000 |
Equity Shares |
Rs.100/- each |
Rs.257.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2242635 |
Equity Shares |
Rs.100/-
each |
Rs.224.263
Millions |
|
|
|
|
|
Note : out of the above shares, 1759865 shares were allotted as fully paid
by way of bonus shares by capitalization of profits.
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
224.263 |
149.509 |
149.509 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
153.707 |
200.124 |
79.513 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
377.970 |
349.633 |
229.022 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
921.626 |
1061.644 |
959.209 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
921.626 |
1061.644 |
959.209 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1299.596 |
1411.277 |
1188.231 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
872.704 |
1018.487 |
999.182 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
48.315 |
25.536 |
36.582 |
|
|
DEFERREX TAX ASSETS |
67.699 |
59.052 |
45.046 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
36.626
|
28.930 |
59.877 |
|
|
Sundry Debtors |
98.490
|
107.725 |
57.752 |
|
|
Cash & Bank Balances |
101.411
|
100.084 |
38.244 |
|
|
Other Current Assets |
81.829
|
101.623 |
60.902 |
|
|
Loans & Advances |
287.655
|
339.471 |
311.618 |
|
Total
Current Assets |
606.011
|
677.833 |
528.393 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Other Current Liabilities |
295.133
|
369.631 |
420.972 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
295.133
|
369.631 |
420.972 |
|
|
Net Current Assets |
310.878
|
308.202 |
107.421 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1299.596 |
1411.277 |
1188.231 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
|
|
|
|
TOTAL TURNOVER |
1425.149 |
1564.206 |
1479.193 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
1382.707 |
1540.201 |
1436.145 |
|
|
|
Interest |
|
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
TOTAL |
1382.707 |
1540.201 |
1436.145 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
42.442 |
24.005 |
43.048 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
13.820 |
8.355 |
14.796 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
28.622 |
15.650 |
28.252 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
200.124 |
79.513 |
58.257 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
153.707 |
200.124 |
79.513 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
12.76 |
6.97 |
12.59 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.00
|
1.00 |
1.90 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.87
|
1.41 |
2.81 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.06 |
0.18 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.21
|
4.09 |
6.02 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.05
|
1.83 |
1.25 |
LOCAL AGENCY FURTHER INFORMATION
Operations :
During the year the company has made turnover inclusding other income of
RRs. 1425.149 millions in comparison to earlier year Rs. 1564.206 millions.
Bonus Issue:
During the year Bonus
Shares has been issued to the existing Share Holders @ 2 : 1 i.e., for every
two Shares held one Share by capitalizing a sum of Rs. 74.754 millions standing to the credit of the Profit and Loss
A/c under "RESERVES AND SURPLUS”. A special Resolution had been passed by
the Members for the purpose. Bonus Shares had been issued to the Members whose
names appeared in the Members Register as
on ‘30th September’ 2009.
From : 8
|
Corporate identity number of the company |
U45209WB1967PTC026983 |
|
Name of the company |
G S ATWAL AND CO ENGINEERS PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
4B,
Little Russel Street, Kolkata West Bengal INDIA 700071 |
|
This form is for |
Modification of charge |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) Floating charge Others |
|
Particular of charge holder |
UCO BANK, MID Corporate Branch, 10, B. T.
M. Sarani (Brabourne Road) Kolkata – 700001, West Bengal, INDIA |
|
Nature of instrument creating charge |
(1) Deed of Hypothecation of Goods To
Secure Demand Cash Credit. (2) Deed of Hypothecation of Book Debts To
Secure Demand Cash Credit. (3) Agreement For Extension of Charge By Way
of Hypothecation Over Current Assets
To Secure Non-Fund Based Facilities. (4) Deed of Hypothecation of Plant and
Machinery To Secure Term Loan. (5) Deed of Hypothecation of Book Debts To
Secure Term Loan. (6) Letter Confirming Extension of
Equitable Mortgage By Deposit of Title Deeds. |
|
Date of instrument Creating the charge |
12/01/2011 |
|
Amount secured by the charge |
Rs. 151.000 millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate
of interest C.C.: @ 1.75% P.A. Above UCO Bank BPLR
Which Is At Present 13.25% i.e. Presently 15.00% P.A. Term Loan : @ 12% P.A. With Monthly Rests
Subject To Change By The Bank/RBI From Time To Time. Terms
of repayment Term Loan (Rs. 26.000 millions) :
Repayable In 36 Months @ Rs. 72.300 millions Each And Last Month of Rs.
69.500 millions . Working Capital (Rs. 125.000 millions):
Repayable on Demand. Margin Cash Credit : 25% On Stocks And 40% On
Book Debts. Term Loan : As Applicable. Extent
and operation of the charge 1st Charge In Favour of Uco
Bank, MID Corporate Branch, 10, B. T. M .Sarani, Kolkata-700001 Other
The Hypothecated Assets Shall Be Insured
Against Loss Or Damage Under Bank Clause. |
|
Short particulars of the property charged (Including
location of the property) |
1.Hypo. of Entire Stocks of Stores and
Spares Etc and Other Movables Which
Now Or Hereafter From Time To Time During This Security Shall Be Brought Into
Stored or Be In Or About The Borrower's Project .... 2.Pertaining To Sukinda Chromite Mines
Projects (Tisco) And At Sarishatali Coal Mining Projects (Cesc) or Wherever
Else. 3. Hypo. of All Present and Future Book
Debts, Outstanding Moneys, Receivables, Claims And Other Current Assets Of
The Borrower. 4.Hypo. of All Plant and Machinery,
Equipments Tools and Accessories Etc And One Volvo Make Ec-700 Hydraulic
Excavator Located At Sukinda Chromite Mines Projects (Tisco) And At
Sarishatali Coal Mining .... 5.Projects Or Wherever Else. 6.Equitable Mortgage of Immovable Property
Being House No. 148, Sector. 8A, Chandigarh UT 7.Equitable Mortgage of Flat No. 7 and 10
Situated At 188/29, Prince Anwar Shah Road, Lake Gardens, Kolkata-700045. |
|
Date of instrument modifying the charge |
20/05/2002 |
|
Particulars of the present modification |
By This Modification The Overall Credit
Facilities Has Been Enhanced From Rs. 145.000 millions to Rs. 151.000
millions comprising of: Cash Credit : Rs. 45.000 millions Term Loan : Rs. 26.000 millions Bank Guarantee : Rs.
50.000 millions Letter of Credit : Rs.
30.000 millions All Other Terms, Conditions and Properties
Charged and Mortgaged As Security
Remain Unaltered. |
Fixed Assets :
·
Plant and Machinery
·
Motor Vehicles
·
Office Equipments
·
Furniture and Fixture
·
Instrument
·
Motor Cycle
·
Building
·
Computer Accessories
·
Land
·
Electrical Installation
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. 45.21 |
|
|
1 |
Rs. 74.30 |
|
Euro |
1 |
Rs. 64.40 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
7 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--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 |
|
51 |
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.