MIRA
INFORM REPORT
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Report Date : |
20.09.2011 |
IDENTIFICATION DETAILS
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Name : |
NU-TECH DAIRY ENGINEERS PRIVATE LIMITED |
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Registered
Office : |
179 Model Town, Ambala City – 134 003, Haryana |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
11.06.2004 |
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Com. Reg. No.: |
05 – 35405 |
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Capital
Investment / Paid-up Capital : |
Rs.7.500 Millions |
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CIN No.: [Company Identification
No.] |
U29251HR2004PTC035405 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Stainless Steel Machinery. |
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No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (28) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 35000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. There appears
some dip in the turnover of the company. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.
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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
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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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
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Name : |
Mr. Shivom Malik |
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Designation : |
Chief Executive Officer |
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Contact No.: |
91-9896067779 |
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Date : |
10.09.2011 |
LOCATIONS
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Registered Office : |
179 Model Town, |
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Tel. No.: |
91-171-2822700/ 2822699 |
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Mobile No.: |
91-9896067779 (Mr. Shivom Malik) 91-9812056179 (Mr. S. C. Malik) |
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Fax No.: |
91-171-2822699 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory : |
34, HSIIDC, |
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Tel. No.: |
91-171-2822700 / 2822699/ 2520480 |
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Fax No.: |
91-171-2822699/ 2520480 |
DIRECTORS
(AS ON 30.09.2010)
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Name : |
Mr. Subhash C. Malik |
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Designation : |
Director |
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Address : |
179 Model Town, |
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Date of Birth/Age : |
21.09.1950 |
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Date of Appointment : |
11.06.2004 |
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DIN No.: |
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Other Directorship : |
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Name : |
Mr. Veerta C. Malik |
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Designation : |
Director |
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Address : |
179 Model Town, |
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Date of Birth/Age : |
16.04.1954 |
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Date of Appointment : |
11.06.2004 |
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DIN No.: |
00499774 |
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Other Directorship : |
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Name : |
Mrs. Nidhi Malik |
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Designation : |
Director |
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Address : |
House No. 179 |
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Date of Birth/Age : |
21.09.1984 |
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Date of Appointment : |
20.03.2009 |
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DIN No.: |
02591910 |
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Other Directorship : |
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KEY EXECUTIVES
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Name : |
Mr. Shivom |
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Designation : |
Chief Executive Officer |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2010)
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Names of Shareholders |
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No. of Shares |
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Subhash C. Malik |
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250000 |
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Veerta C. Malik |
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176000 |
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Hari Vij Prakash |
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44000 |
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Gagan Malik |
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70000 |
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Nidhi Malik |
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70000 |
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(AS ON 30.09.2010)
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Stainless Steel Machinery. |
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Exports : |
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Products : |
Stainless Steel Machinery |
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Countries : |
·
Bangladesh ·
European Countries ·
African and Asian Courtiers |
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Imports : |
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Products : |
Raw Material |
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Countries : |
Europe |
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Terms : |
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Selling : |
Depend |
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Purchasing : |
Depend |
GENERAL INFORMATION
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Customers : |
OEM’s and Manufacturer
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Suppliers : |
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No. of Employees : |
20 (Approximately) |
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Bankers : |
· State Bank of India, Rasmeccc Branch, Ambala – 133 001,
Haryana, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Ajay Mittal and Company (Chartered Accountant) |
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Address : |
Kasturi Bhavan, |
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Tel. No.: |
91-171-2631279/ 6537379 (R) 2663079 |
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PAN No.: |
AAEFA0543N |
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Email : |
CAPITAL STRUCTURE
(AS ON 31.03.2010)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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750000 |
Equity Share |
Rs.10/- each |
Rs.7.500 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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750000 |
Equity Share |
Rs.10/- each |
Rs.7.500 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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1] Share Capital |
7.500 |
5.000 |
5.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1.270 |
0.921 |
0.926 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
8.770 |
5.921 |
5.926 |
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LOAN FUNDS |
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1] Secured Loans |
38.187 |
40.223 |
36.483 |
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2] Unsecured Loans |
0.000 |
1.251 |
3.516 |
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TOTAL BORROWING |
38.187 |
41.474 |
39.999 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
46.957 |
47.395 |
45.925 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
10.057 |
9.161 |
10.356 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
1.457 |
5.054 |
2.548 |
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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 |
59.128
|
36.868
|
47.725 |
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Sundry Debtors |
13.806
|
12.589
|
6.975 |
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Cash & Bank Balances |
0.045
|
0.069
|
0.080 |
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Other Current Assets |
1.718
|
2.213
|
0.950 |
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Loans & Advances |
3.411
|
15.749
|
2.355 |
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Total
Current Assets |
78.108
|
67.488 |
58.085 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditor and Other Current Liabilities |
42.665
|
34.085
|
25.064 |
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Provisions |
0.000
|
0.223
|
0.000 |
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Total
Current Liabilities |
42.665
|
34.308
|
25.064 |
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Net Current Assets |
35.443
|
33.180
|
33.021 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
46.957 |
47.395 |
45.925 |
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PROFIT & LOSS
ACCOUNT
|
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
37.775 |
61.663 |
42.406 |
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Other Income |
1.411 |
NA |
NA |
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TOTAL |
39.186 |
NA |
NA |
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Less |
EXPENSES |
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TOTAL |
38.838 |
NA |
NA |
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PROFIT BEFORE
TAX |
0.348 |
0.544 |
0.505 |
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Less |
TAX |
0.108 |
NA |
NA |
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PROFIT AFTER TAX
|
0.240 |
NA |
NA |
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Earnings Per
Share (Rs.) |
0.32 |
-- |
-- |
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Particulars |
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|
31.03.2011 |
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Sales Turnover (Approximately) |
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|
50.000 |
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(Due to
Recession turnover of 2010 and 2011 is low as compared) |
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The above information has been parted by Mr. Shivom Malik.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
0.61
|
NA |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
0.92
|
0.88 |
1.19 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.39
|
0.71 |
0.74 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.09 |
0.09 |
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Debt Equity Ratio (Total Liability/Networth) |
|
9.22
|
12.80 |
10.98 |
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Current Ratio (Current Asset/Current Liability) |
|
1.83
|
1.97 |
2.32 |
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE OF THE
COMPANY:
The Company reports that the financial year 2009-10 was satisfactory
both quantitatively and qualitatively. Company has earned a net profit of Rs.0.348 Millions during
the year. Directors of the company are hopeful for better results in the next
coming years.
FORM: 8
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Name of the company |
NU TECH DAIRY ENGINEERS PRIVATE LIMITED |
|
Presented By |
Mr. Subhash
Chander Malik, Managing Director and Manager, State Bank of India, Sadar
Bazar, Ambala Cantt |
|
1) Date and description of instrument creating the change |
12.10.2004:
General Agreement for the grant of small
industries and hypothecation of movables, book debts and other assets,
(working capital Finance) and anciliary agreement No.1 to the general
agreement (working capital finance): agreement for the grant of small
industrial advances (working capital finance) |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.3.000 Millions |
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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 |
Raw Materials,
Semi Finished, Finished |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of interest:
11.25% p.a. with monthly rests. Margin: 25% Repayment on
demand Extent of
operation 100% |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of |
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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 |
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Corporate
identity number of the company |
U29251HR2004PTC035405 |
|
Name of the
company |
NU TECH DAIRY ENGINEERS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
179 Model Town, |
|
This form is for |
Immovable
property Book debts Others Stock and car |
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Type of charge |
State Bank of E-Mail: meenakshibajaj33@rediffmail.com |
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Particular of
charge holder |
Letter of
Arrangement |
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Nature of
instrument creating charge |
20.04.2009 |
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Date of
instrument Creating the charge |
Rs.39.300
Millions |
|
Amount secured by
the charge |
Rate of interest
on working capital and term loan is 2% above SBAR with a minimum of 14.25% per
annum with monthly rests. |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Working capital
is repayable on demand Term Loan is
repayable in 20 quarter installments commencing on 01.06.2009 Margin Margin on stock
is 25% and on book debts is 40% Extent and
operation of the charge is 100% |
|
Particulars of
the property charged |
Hypothecation of
all current assets including stock consisting of raw material, semi finished
goods, finished goods, Book debts, car and fixed assets |
FIXED ASSETS:
·
A.C
·
Land
·
Building
·
Furniture
·
Weight and Measures
·
Machinery
·
Car
·
Computers
·
Generator
·
Auto and Jeep
·
Motor Cycle
·
Scooter
·
Water Filter
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.48.22 |
|
|
1 |
Rs.75.63 |
|
Euro |
1 |
Rs.65.65 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--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 |
|
28 |
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.