MIRA INFORM REPORT
|
Report Date : |
14.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
WEB-TECH ENGINEERING PRIVATE LIMITED |
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Registered
Office : |
Plot No. 20, Sector 25, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
07.07.1998 |
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Com. Reg. No.: |
05-033979 |
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Capital
Investment / Paid-up Capital : |
Rs.18.280 Millions |
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CIN No.: [Company Identification
No.] |
U29191HR1998PTC033979 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
RTKW00091A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of auto parts, printing machines and paper cutting machines
etc |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 280000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track Trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. The company can be considered for small to mediocre business dealings
with some cautions. |
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 : |
Plot No. 20, Sector 25, |
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Tel. No.: |
91-129-4061901 |
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Mobile No.: |
91-9311296403 (Mr. Sabhajeet Singh) |
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Fax No.: |
91-129-2442401 |
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E-Mail : |
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Website : |
DIRECTORS
As on 25.09.2010
|
Name : |
Mr. Sabhajeet Singh |
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Designation : |
Managing director |
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Address : |
H. N. 619, Sector – 21A, |
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Date of Birth/Age : |
20.12.1960 |
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Date of Appointment : |
17.07.1998 |
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DIN No.: |
00455523 |
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Name : |
Mrs. Prema Devi |
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Designation : |
Director |
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Address : |
H. N. 619, Sector – 21A, |
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Date of Birth/Age : |
15.07.1965 |
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Date of Appointment : |
25.03.2000 |
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DIN No.: |
00455459 |
Other Directorship
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company
Status |
Defaulting
status |
|
1 |
U29191HR1998PTC033979 |
Web-Tech
Engineering Private Limited |
Director |
25-03-00 |
25-03-00 |
- |
Active |
NO |
|
2 |
U29294RJ2008PTC027529 |
Webtech Auto
Engineering Private Limited |
Director |
08-10-08 |
08-10-08 |
- |
Active |
YES |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Sabhajeet Singh |
|
724500 |
|
Prema Devi |
|
1095000 |
|
Neehal Islam |
|
8000 |
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Sahi Ram Rawat |
|
100 |
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Maduri Shukla |
|
100 |
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Shdique Hussain |
|
100 |
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S. P. Aggarwal |
|
100 |
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Urmila Devi |
|
100 |
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Total |
|
1828000 |
List of Allottees
As on 31.12.2010
|
Names of Allottees |
|
No. of Shares
Allotted |
|
Prema Devi |
|
500000 |
|
Total |
|
500000 |
List of Allottees
As on 09.03.2011
|
Names of Allottees |
|
No. of Shares
Allotted |
|
Sabhajeet Singh |
|
403000 |
|
Total |
|
403000 |
List of Allottees
As on 28.03.2011
|
Names of Allottees |
|
No. of Shares
Allotted |
|
Sabhajeet Singh |
|
381000 |
|
Total |
|
381000 |
List of Allottees
As on 31.03.2011
|
Names of Allottees |
|
No. of Shares
Allotted |
|
Shivnandan Singh |
|
280000 |
|
Total |
|
280000 |
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 auto parts, printing machines and paper cutting
machines etc |
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Products : |
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PRODUCTION STATUS
As on 31.03.2010
|
Particulars |
Unit |
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Actual
Production |
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Printing M/c. and Allied Equipments |
Nos. |
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|
51549 |
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 Institution : |
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Auditors : |
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Name : |
Agarwal Kamal Kumar and Associates Chartered Accountants |
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Address : |
13-D, 2nd Floor, Netaji Subhash Marg, Daryaganj, |
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Tel. No.: |
91-11-23269953 / 23284459 |
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PAN.: |
AAGFA5382B |
CAPITAL STRUCTURE
After 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
4000000 |
Equity Shares |
Rs.10/- each |
40.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
3392000 |
Equity Shares |
Rs.10/- each |
Rs.33.920
Millions |
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As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
1828000 |
Equity Shares |
Rs.10/- each |
Rs.18.280
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 |
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|
SHAREHOLDERS FUNDS |
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|
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1] Share Capital |
18.280 |
13.780 |
9.280 |
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2] Share Application Money |
38.500 |
9.743 |
9.743 |
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3] Reserves & Surplus |
14.287 |
6.097 |
7.713 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
71.067 |
29.620 |
26.736 |
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LOAN FUNDS |
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|
1] Secured Loans |
75.944 |
63.677 |
24.802 |
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2] Unsecured Loans |
8.360 |
13.955 |
15.722 |
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TOTAL BORROWING |
84.304 |
77.632 |
40.524 |
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DEFERRED TAX LIABILITIES |
3.356 |
4.646 |
0.000 |
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TOTAL |
158.727 |
111.898 |
67.260 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
78.925 |
51.336 |
31.688 |
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Capital work-in-progress |
5.363 |
23.960 |
0.000 |
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INVESTMENT |
0.096 |
0.096 |
0.096 |
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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 |
105.345
|
41.149 |
35.616 |
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Sundry Debtors |
38.895
|
23.472 |
19.759 |
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Cash & Bank Balances |
5.229
|
3.687 |
2.329 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
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Loans & Advances |
23.787
|
19.809 |
18.410 |
|
Total
Current Assets |
173.256
|
88.117 |
76.114 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
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|
|
|
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|
Sundry Creditors |
75.318
|
36.809 |
25.854 |
|
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Other Current Liabilities |
23.036
|
14.361 |
14.745 |
|
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Provisions |
0.625
|
0.529 |
0.099 |
|
Total
Current Liabilities |
98.979
|
51.699 |
40.698 |
|
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Net Current Assets |
74.277
|
36.418 |
35.416 |
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MISCELLANEOUS EXPENSES |
0.066 |
0.088 |
0.060 |
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TOTAL |
158.727 |
111.898 |
67.260 |
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PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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GROSS RECEIPTS /
TURNOVER |
219.391 |
110.518 |
68.283 (Net Sales) |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
6.269 |
3.593 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
NA |
2.178 |
0.740 |
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PROFIT / LOSS
BEFORE TAX |
7.555 |
4.091 |
2.853 |
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Less |
TAX |
(0.635) |
5.707 |
(0.664) |
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PROFIT / LOSS
AFTER TAX |
8.190 |
(1.616) |
3.517 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
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Commission Earnings |
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Other Earnings |
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TOTAL EARNINGS |
11.423 |
13.216 |
32.571 |
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Earning per
share (Rs.) |
4.48 |
(1.17) |
3.79 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
NA |
4.18 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.00
|
2.93 |
2.65 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.11
|
0.14 |
0.11 |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
2.58
|
4.37 |
3.04 |
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|
Current Ratio (Current Asset/Current Liability) |
|
1.75
|
1.70 |
1.87 |
LOCAL AGENCY FURTHER INFORMATION
NOTE
Registered office of the company has been
sifted from “21/1 Sanjay
WORKING OF THE COMPANY
During the year
the company continued its business of manufacturing of auto parts, printing
machines and paper cutting machines etc. The directors were in search of the
more suitable opportunities for the company during the period 2009-10. The
company has recovered successfully from the big jolt of the global recession.
Due to the efforts made by the directors, the turnover of the company has been
almost doubled in terms of the volume and value, as compared to the previous
financial year. With the overwhelming response from the existing as well as
from the new customers, the company has registered growth in the net profits.
The directors promise to do much better in the forthcoming years.
FORM 8
|
Corporate
identity number of the company |
U29191HR1998PTC033979 |
|
Name of the
company |
WEB-TECH ENGINEERING PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. 20, Sector 25, E-Mail Id : info@webtechengg.com
|
|
This form is for |
Creation of charge |
|
Charge
identification (ID) number of the charge to be modified |
|
|
Type of charge |
Movable property (not being pledge) |
|
Particular of
charge holder |
Small Industries Development Bank of India, N.H.5-R/2, Neelam Badshah
Khan Road, NIT, Faridabad – 121001, Haryana, India E-Mail Id : singhsp@sidbi.in |
|
Nature of
instrument creating charge |
Deed of Hypothecation dated 27/05/2011 |
|
Date of
instrument Creating the charge |
27.05.2011 |
|
Amount secured by
the charge |
Rs.7.500 Millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest PLR+0.50%. Current PLR is 12.50% therefore interest rate at present
13% p.a. (Floating). Penal Interest 2% on the defaulted amount. Terms of
repayment Repayable in 54 monthly installments, consisting first 53 installments
of Rs.0.139 Million each followed by last installment of Rs.0.133 Million
commencing after 6 months from the date of first disbursement of the loan.
Date of payment for the installment will be 10th day of each month of the
calendar year. Extent and
operation of the charge Term Loan of Rs.7.500 Millions is secured by way of hypothecation of
moveable assets proposed to be acquired out of the this term loan and
extension of first charge by way of Hypothecation of all the movables/items
of Plant, Machinery and other equipment acquired/to be acquired out of the
earlier scheme of loans. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
First Charge by
way of hypothecation over moveable assets proposed to be acquired out of this
term loan and extension of 1st Charge by way of hypothecation of plant and
machinery, equipment and movables acquired/to be acquired out of previous
SIDBI Loans and kept at plot no. 20, Sector-25, |
FIXED ASSETS
- Land
- Motor Car
- Computers
- Furniture and Fixtures
- Office Equipments
- Water Cooler
- Plant and Machinery
- Vehicles
- Building
- Tools and Dies
- Air Condition
- Cell Phone
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.49.02 |
|
|
1 |
Rs.77.13 |
|
Euro |
1 |
Rs.67.56 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
29 |
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.