MIRA
INFORM REPORT
|
Report Date : |
02.09.2011 |
IDENTIFICATION DETAILS
|
Name : |
LANDSKY ENGINEERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
10-2-213/A, Plot No.260, Road No.1, West Maredapally,
Secunderabad-500026, Andhra Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation
: |
11.05.2001 |
|
|
|
|
Com. Reg. No.: |
1-036699 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1.187 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29120AP2001PTC036699 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
HYDL01325C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACL6522B |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Suppliers and Trader of Compressed
air systems, vacuum pumps, blowers, Material handling equipments, channel
blowers, pallet truck with weighing scale and printer, manual/ electric
stacker, drum lifter etc. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 25000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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 – 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 : |
10-2-213/A, Plot No.260, Road No.1, West Marredpally,
Secunderabad-500026, Andhra Pradesh, India |
|
Tel. No.: |
91-40-27701449 / 27701452 / 55217355 |
|
Fax No.: |
91-40-27701449 / 27701452 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
Plot No.35-69, 2nd Floor, G K Colony, Sainikpuri Post,
Secunderabad-500094, Andhra Pradesh, India |
|
Tel. No.: |
91-40-27110207 / 65217355 |
|
Fax No.: |
91-40-27110278 |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Malepati Venkata Sivaprasad |
|
Designation : |
Managing Director |
|
Address : |
36, Gruhalaxmi Colony, Picket, Secunderabad-500015, Andhra Pradesh,
India |
|
Date of Birth/Age : |
10.05.1970 |
|
Date of Appointment : |
11.05.2001 |
|
DIN No : |
01979109 |
|
|
|
|
Name : |
Mr. Prasad Meda |
|
Designation : |
Director |
|
Address : |
13-349-L1, Vempally, Kadapa District - 516218, Andhra Pradesh, India |
|
Date of Birth/Age : |
03.03.1964 |
|
Date of Appointment : |
11.05.2001 |
|
DIN No : |
02075560 |
|
|
|
|
Name : |
Mr. Sambasiva Rao Malepati |
|
Designation : |
Director |
|
Address : |
36, Gruhalaxmi Colony, Picket, Secunderabad-500015, Andhra Pradesh,
India |
|
Date of Birth/Age : |
01.06.1977 |
|
Date of Appointment : |
11.05.2001 |
|
DIN No : |
03598910 |
|
|
|
|
Name : |
Mr. Chandra Shekar Malepati |
|
Designation : |
Director |
|
Address : |
6/389-2, Bus Stand, Nandimandalam, Post and Exg, Cuddapah-516218, Andhra
Pradesh, India |
|
Date of Birth/Age : |
03.08.1960 |
|
Date of Appointment : |
11.05.2001 |
|
DIN No : |
03598912 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Malepati Venkata Sivaprasad |
10090 |
|
Prasad Meda |
594 |
|
Sambasiva Rao Malepati |
594 |
|
Chandra Shekar Malepati |
592 |
|
Total |
11870 |
AS ON 30.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Suppliers and Trader of Compressed
air systems, vacuum pumps, blowers, Material handling equipments, channel
blowers, pallet truck with weighing scale and printer, manual/ electric stacker,
drum lifter etc. |
GENERAL INFORMATION
|
Bankers : |
·
ING Vysya Bank Limited, 1-7-1, T. Subbarami Reddy
Complex, Sardar Patel Road, Secunderabad-500003, Andhra Pradesh, India ·
HSBC Bank ·
Barclays Bank ·
Standard Chartered Bank |
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Nallamilli and Associates Chartered Accountant |
|
Address : |
2nd Floor, Room No. 9, Nalanda Complex, Behind Medinova Hospital,
Somajiguda, Hyderabad-500082, Andhra Pradesh, India |
|
Tel. No.: |
91-40-66663107 / 66623106 |
|
Mobile No.: |
91-9246203107 |
|
Fax No.: |
91-40-66623106 |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20000 |
Equity Shares |
Rs.100/- each |
Rs. 2.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
11870 |
Equity Shares |
Rs.100/-
each |
Rs. 1.187
Millions |
|
|
|
|
|
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 |
1.187 |
1.187 |
0.100 |
|
|
2] Share Application Money |
1.200 |
1.200 |
1.087 |
|
|
3] Reserves & Surplus |
3.987 |
3.026 |
2.036 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
6.374 |
5.413 |
3.223 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
13.040 |
7.051 |
0.000 |
|
|
2] Unsecured Loans |
5.752 |
6.194 |
1.030 |
|
|
TOTAL BORROWING |
18.792 |
13.245 |
1.030 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
25.166 |
18.658 |
4.253 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.541 |
1.534 |
1.082 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
2.117
|
2.999 |
3.011 |
|
|
Sundry Debtors |
28.378
|
28.944 |
18.697 |
|
|
Cash & Bank Balances |
0.092
|
0.180 |
0.730 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
6.288
|
2.124 |
1.963 |
|
Total
Current Assets |
36.875
|
34.247 |
24.401 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
11.247
|
14.737 |
18.853 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
2.003
|
2.386 |
2.380 |
|
Total
Current Liabilities |
13.250
|
17.123 |
21.233 |
|
|
Net Current Assets |
23.625
|
17.124 |
3.168 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.003 |
|
|
|
|
|
|
|
|
TOTAL |
25.166 |
18.658 |
4.253 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
54.439 |
69.355 |
65.988 |
|
|
|
Service Income |
0.280 |
0.247 |
1.153 |
|
|
|
Short Term Capital Gain |
0.064 |
0.000 |
0.000 |
|
|
|
TOTAL (A) |
54.783 |
69.602 |
67.141 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Purchases |
37.980 |
45.084 |
50.828 |
|
|
|
Duties and Others |
2.093 |
10.523 |
6.396 |
|
|
|
Administrative Expenses |
8.155 |
8.824 |
7.846 |
|
|
|
Director Remuneration |
1.032 |
1.200 |
0.900 |
|
|
|
Sales Tax |
0.000 |
0.000 |
0.327 |
|
|
|
Increase in Stocks |
0.881 |
0.012 |
(2.042) |
|
|
|
TOTAL (B) |
50.141 |
65.643 |
64.255 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4.642 |
3.959 |
2.886 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.719 |
2.091 |
1.001 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.923 |
1.868 |
1.885 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.392 |
0.376 |
0.469 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1.531 |
1.492 |
1.416 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.529 |
0.502 |
0.438 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
1.002 |
0.990 |
0.978 |
|
|
|
|
|
|
|
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.83
|
1.42 |
1.46 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.81
|
2.15 |
2.15 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
3.99
|
4.17 |
5.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.28 |
0.44 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.03
|
5.61 |
6.91 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.78
|
2.00 |
1.15 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS
The Directors express their satisfaction at the progress and developments
in the operations of the Company during the period 2009-10
and the Company has recorded a net profit of Rs. 1.002 millions during the
year.
FORM 8
|
Corporate
identity number of the company |
U29120AP2001PTC036699 |
|
Name of the
company |
LANDSKY ENGINEERS
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
10-2-213/A, Plot No.260, Road No.1, West Marredpally, Secunderabad-500026, Andhra Pradesh, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Floating charge |
|
Particular of
charge holder |
ING Vysya Bank Limited, 1-7-1, T. Subbarami Reddy Complex, Sardar Patel Road, Secunderabad-500003, Andhra Pradesh, India |
|
Nature of
instrument creating charge |
General
Hypothecation Agreement |
|
Date of
instrument Creating the charge |
21.11.2008 |
|
Amount secured by
the charge |
Rs. 8.500
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest ODSIT and BD
(Stock in Trade) : IVRR-1.50%p.a. Cheques
Purchased: IVRR-1.50%p.a. Import Letter of
Credit (DP) (Sub limit of ODSIT / BD): Commission: As per Bank norms in
Vogue. Terms of repayment ODSIT and
BD(Stock in Trade) : On Demand Cheques Purchased
: On Demand Import Letter of
Credit(DP)(Sub limit of ODSIT/BD) : On Demand Margin ODSIT and BD
(Stock in Trade) : 25% on stocks and 50% on book debts. Cheques Purchased
: Nil Import Letter of
Credit (DP) (Sub limit of ODSIT/BD) : cash margin 25% Extent and operation of the charge ODSIT/BD- First charge
on the stocks of handling material equipments etc., store/to be stored from
time to time. First charge on the book
debts both present and future. ILC - Documents
of title of stocks purchased under the LC. Cheque purchase / DD Purchase /
Pay Order Purchase - Instrument Purchase from time to time. |
|
Short particulars
of the property charged (Including location of the property) |
ODSIT/BD- The
entire stocks of handling material equipments etc., store/to be stored at
Plot #205/4A, Block No.9,Phase -II,IDA, Cherlapally, Ghatkesar Mandal, Kapra
Muncipality, RR District, Andhra Pradesh and the book debts both present and
future. ILC - Documents
of title of stocks purchased under the LC. Cheque purchase /
DD Purchase / Pay Order Purchase - Instrument Purchase from time to time. |
FIXED ASSETS
·
Furniture
·
Office Equipments
·
Computers
·
Accounting Software
·
Inventories Software
·
ERP Software
·
Civil Works Godown
·
Delivery Van
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. 46.01 |
|
|
1 |
Rs. 75.42 |
|
Euro |
1 |
Rs. 66.69 |
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 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
43 |
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.