MIRA
INFORM REPORT
|
Report Date : |
03.10.2011 |
IDENTIFICATION DETAILS
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Name : |
YEEKAY TECHNOCRAT PRIVATE LIMITED |
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Registered
Office : |
SSI Plot No-4, Block –H, NH-2 Opposite FCI Godown, N.I.T., |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
12.12.2002 |
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Com. Reg. No.: |
05-035006 |
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Capital
Investment / Paid-up Capital : |
Rs.5.000 Millions |
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CIN No.: [Company Identification
No.] |
U34300HR2002PTC035006 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
RTKY00069G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Pipes and fittings, Susien fufions and Rubber and
Plastic Components. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
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 137000 |
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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 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 |
LOCATIONS
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Registered Office / Marketing Office: |
SSI Plot No-4, Block –H, NH-2 Opposite FCI Godown, N.I.T., |
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Tel. No.: |
91-129-4027609 / 610 |
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Fax No.: |
91-129-4108917 |
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E-Mail : |
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Website : |
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Area : |
1000 Sq. Ft. |
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Location : |
Owned |
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Factory : |
Khasra No.356, Gagal |
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E-Mail : |
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Area : |
3000 Sq. Ft. |
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Location : |
Owned |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Tarun Chandana |
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Designation : |
Director |
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Address : |
SSI Plot No.4 |
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Date of Birth/Age : |
10.10.1959 |
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Date of Appointment : |
12.12.2002 |
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DIN No.: |
00225193 |
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Name : |
Ms. Preeti Chandna |
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Designation : |
Director |
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Date of Birth/Age : |
12.03.1986 |
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Date of Appointment : |
01.01.2010 |
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DIN No.: |
02870765 |
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Name : |
Mr. Trilok Chand Chandana |
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Designation : |
Director |
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Address : |
SSI Plot No.1 Opposite . FCI
Godown Block -HNH-2, NIT Faridabad – 121001, |
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Date of Birth/Age : |
06.07.1957 |
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Date of Appointment : |
12.12.2002 |
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DIN No.: |
00225184 |
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Name : |
Mr. Yunik Chandna |
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Designation : |
Director |
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Address : |
SSI Plot No 4,Block -HNH-2, |
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Date of Birth/Age : |
05.07.1982 |
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Date of Appointment : |
01.12.2003 |
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DIN No.: |
00225203 |
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Name : |
Mr. Karan Chandna |
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Designation : |
Director |
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Address : |
SSI Plot No 4,Block -HNH-2, |
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Date of Birth/Age : |
07.10.1985 |
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Date of Appointment : |
01.12.2003 |
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DIN No.: |
00225207 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Tarun Chandna |
|
180000 |
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Preeti Chandna |
|
5000 |
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Trilok Chand Chandna |
|
220000 |
|
T.C. Chandna and Sons |
|
5000 |
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Yunik Chandna |
|
45000 |
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Karan Chandna |
|
45000 |
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0 |
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Total |
|
500000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Pipes and fittings, Susien fufions and Rubber and
plastic Components. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking Relations
: |
-- |
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Financial Institutions : |
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Auditors : |
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Name : |
Satish kumar Gupta Chartered Accountant |
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Address : |
H.No-1060, Sector-16, |
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PAN.: |
AAPPG8334C |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
750000 |
Equity Shares |
Rs.10/- each |
Rs.7.500 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000
Millions |
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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 |
5.000 |
4.350 |
4.350 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
29.493 |
16.125 |
8.962 |
|
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
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NETWORTH |
34.493 |
20.475 |
13.312 |
|
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LOAN FUNDS |
|
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|
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|
1] Secured Loans |
44.106 |
26.436 |
39.080 |
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2] Unsecured Loans |
6.885 |
16.218 |
12.538 |
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TOTAL BORROWING |
50.991 |
42.653 |
51.618 |
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DEFERRED TAX LIABILITIES |
0.265 |
0.205 |
0.515 |
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TOTAL |
85.749 |
63.334 |
65.445 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
41.871 |
41.400 |
41.054 |
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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 |
10.369
|
8.772 |
3.715 |
|
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Sundry Debtors |
25.159
|
20.057 |
20.710 |
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Cash & Bank Balances |
2.005
|
0.896 |
0.809 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
36.007
|
8.062 |
17.076 |
|
Total
Current Assets |
73.540
|
37.787 |
42.310 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
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Sundry Creditors |
19.623
|
10.435 |
7.116 |
|
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Other Current Liabilities |
7.213
|
4.513 |
10.300 |
|
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Provisions |
2.898
|
0.987 |
0.595 |
|
Total
Current Liabilities |
29.734
|
15.935 |
18.011 |
|
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Net Current Assets |
43.806
|
21.852 |
24.299 |
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MISCELLANEOUS EXPENSES |
0.072 |
0.082 |
0.092 |
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TOTAL |
85.749 |
63.334 |
65.445 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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|
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Income |
272.416 |
141.204 |
110.438 |
|
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|
Job Works |
0.023 |
0.043 |
0.000 |
|
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Closing Stock |
9.109 |
4.722 |
3.169 |
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|
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Other Income |
3.154 |
0.866 |
1.717 |
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TOTAL (A) |
284.702 |
146.835 |
115.324 |
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Opening Stock (Semi finished and Finished Goods) |
4.722 |
3.169 |
0.500 |
|
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Raw material consumed |
206.889 |
96.391 |
73.385 |
|
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Manufacturing Expenses |
23.926 |
10.752 |
13.954 |
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Administrative Expenses |
13.881 |
11.104 |
9.483 |
|
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Selling and Distribution Expenses |
8.520 |
4.615 |
2.739 |
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TOTAL (B) |
257.938 |
126.031 |
100.061 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
26.764 |
20.804 |
15.263 |
|
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Less |
FINANCIAL
EXPENSES (D) |
4.702 |
6.535 |
5.039 |
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
22.062 |
14.269 |
10.224 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
5.740 |
6.312 |
4.947 |
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PROFIT BEFORE
TAX (E-F) (G) |
16.322 |
7.957 |
5.277 |
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Less |
TAX (H) |
2.898 |
0.987 |
0.596 |
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PROFIT AFTER TAX
(G-H) (I) |
13.424 |
6.970 |
4.681 |
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|
Add |
PROVISION
FOR INCOME TAX AND FBT |
0.987 |
0.595 |
0.360 |
|
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|
|
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|
Less |
TAXES
PAID FOR EARLIER YEAR |
(0.856) |
(0.597) |
(0.523) |
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|
Less |
FBT
FOR EARLIER YEAR |
(0.127) |
(0.116) |
0.000 |
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|
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|
Less / Add |
PROVISION
FOR DEFERRED TAX LIABILITY |
(0.060) |
0.310 |
0.049 |
|
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TRANSFER TO
PROFIT AND LOSS ACCOUNT |
13.368 |
7.162 |
4.567 |
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IMPORTS |
|
|
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Raw Materials |
50.245 |
54.322 |
9.046 |
|
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|
Stores & Spares |
0.000 |
0.000 |
0.000 |
|
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Capital Goods |
0.000 |
0.000 |
0.000 |
|
|
|
Others |
0.000 |
0.000 |
0.000 |
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TOTAL IMPORTS |
50.245 |
54.322 |
9.046 |
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|
Earnings Per
Share (Rs.) |
26.85 |
13.94 |
9.36 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.72
|
4.75 |
4.06 |
|
|
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|
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|
Net Profit Margin (PBT/Sales) |
(%) |
5.99
|
5.63 |
4.78 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
14.14
|
10.15 |
6.33 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.47
|
0.39 |
0.40 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.34
|
2.86 |
5.23 |
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|
Current Ratio (Current Asset/Current Liability) |
|
2.47
|
2.37 |
2.35 |
LOCAL AGENCY FURTHER INFORMATION
OPERATION
In the year 2009-2010 the turnover is Rs.272.439 Millions and earned Profit
of Rs.16.322 Millions. In the Current year the Company hopes to increase its
turnover as well as profit.
FUTURE PROSPECTS
The Company’s overall growth
during the year is quite satisfactory.
FORM 8
|
Corporate
identity number of the company |
U34300HR2002PTC035006 |
|
Name of the
company |
YEEKAY TECHNOCRAT
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
SSI Plot No-4 Block -HNH-2 Opp FCI Godown N.I.T. Faridabad – 121001, E-mail Id : yeekay@airtelbroadband.in
|
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10032006 |
|
Type of charge |
Immovable property Movable property (not being pledge) |
|
Particular of
charge holder |
Bank of E-Mail ID : cakkminocha@gmail.com |
|
Nature of
instrument creating charge |
Letter Ref. No.
FBD/ADV/SKS/42 Dated.17.01.2011 |
|
Date of
instrument Creating the charge |
17.01.2011 |
|
Amount secured by
the charge |
Rs.162.200
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest TL : @4.00% p.a. over
Base Rate ; CC : @2.75% p.a. over Base Rate on monthly rests subject to
change in BR/RBI Guidelines. Penal Rate : @2%
over and above the normal rate of interest. Terms of repayment As Per Agreement. Margin Margin - L/C-15%,
Stock - 25%, Book Debts - 40%, Term Loan - 25% Extent and operation of the charge Equitable
Mortgage over Immovable Properties situated at Khata No.123, Khasra No.356,
Mauza Raipur, Pargana Bhagwanpur, Tehsil Roorkee, Haridwar (Uttranchal) comprising
Land and Building and other Structures, Fixed Machinery and Plant, Fixtures
and Fittings erected/installed (both present and future). Hypothecation of
Fixed Assets of the Company(both present and future). Others he Complete
Details of Limit as under:- Cash Credit + L/C
+ BG 70.000 Millions Term Loans 92.200 millions
------------------
162.200 Millions ------------------ |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Equitable
Mortgage over Immovable Properties situated at Khata No.123, Khasra No.356,
Mauza Raipur, Pargana Bhagwanpur, Tehsil Roorkee, Haridwar (Uttranchal)
comprising Land and Building and other Structures, Fixed Machinery and Plant,
Fixtures and Fittings erected/installed (both present and future). Hypothecation of
Fixed Assets of the Company (both present and future). |
|
Date of
instrument modifying the charge |
22.06.2010 |
|
Particulars of
the present modification |
Limit of amount
secured enhanced from Rs.62.500 Millions to Rs.162.200 Millions as under:- Cash Credit + L/C
+ BG 70.000 Millions Term Loan 92.200 Millions TL : @4.00% p.a.
over Base Rate , CC : @2.75% p.a. over Base Rate on monthly rests subject to
change in BR/RBI Guidelines. Penal Rate : @2%
over and above the normal rate of interest. |
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.48.93 |
|
|
1 |
Rs.76.52 |
|
Euro |
1 |
Rs.66.65 |
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.