|
Report Date : |
05.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
VACTAL ENGINEERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C-140, Flatted Factories Complex, Okhla Phase – II, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
23.05.1995 |
|
|
|
|
Com. Reg. No.: |
068897 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.0.198 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1995PTC068897 |
|
|
|
|
Legal Form : |
Private Limited Liability Company
|
|
|
|
|
Line of Business
: |
Dealer of Air Conditioning Systems |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 7084 |
|
|
|
|
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. The company can be considered for small 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
India |
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 : |
C-140, Flatted Factories Complex, Okhla Phase – II, New Delhi –
110020, Delhi, India |
|
Tel. No.: |
91-11-26835761 |
|
Fax No.: |
91-11-26928916 |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Vimal Uppal |
|
Designation : |
Director |
|
Address : |
Flat No.37, Pocket-B, Sukhdev, New Delhi – 110025, Delhi, India |
|
Date of Birth/Age : |
06.10.1956 |
|
Date of Appointment : |
23.05.1995 |
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 |
U74899DL1995PTC068897 |
VACTAL ENGINEERS PRIVATE
LIMITED |
Director |
23/05/1995 |
23/05/1995 |
- |
Active |
NO |
|
2 |
U74899DL1995PTC067311 |
ELDERA EXPORTS PRIVATE
LIMITED |
Director |
26/11/1997 |
26/11/1997 |
- |
Active |
NO |
|
Name : |
Ms. Shabnam Uppal |
|
Designation : |
Director |
|
Address : |
Flat No.37, Pocket-B, Sukhdev, New Delhi – 110025, Delhi, India |
|
Date of Birth/Age : |
04.02.1963 |
|
Date of Appointment : |
23.05.1995 |
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 |
U74899DL1995PTC068897 |
VACTAL ENGINEERS PRIVATE
LIMITED |
Managing director |
23/05/1995 |
23/05/1995 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Vimal Uppal |
|
19600 |
|
Shabnam Uppal |
|
160 |
|
Tanya Uppal |
|
10 |
|
Mudit Uppal |
|
10 |
|
Subodh Uppal |
|
10 |
|
Manta Uppal |
|
10 |
|
Total |
|
19800 |
AS ON 30.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.90 |
|
Other |
0.10 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealer of Air Conditioning Systems |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Dena Bank, Scope Complex Core No 6 7 Lodhi Road, New Delhi - 110003, Delhi, India |
||||||||||||||||||||||||
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||||||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Jindal and Associates Chartered Accountant |
|
Address : |
B-59, Flatted Factory Complex, Okhla Ph-Iii, New Delhi – 110020,
Delhi, India |
|
|
|
|
Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
20000 |
Equity Shares |
Rs.10/- each |
Rs.0.200 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
19800 |
Equity Shares |
Rs.10/- each |
Rs.0.198
Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.198 |
0.198 |
0.198 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.130 |
|
|
3] Reserves & Surplus |
1.573 |
1.242 |
1.132 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
1.771 |
1.440 |
1.460 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
2.933 |
1.435 |
0.565 |
|
|
2] Unsecured Loans |
0.014 |
0.006 |
0.003 |
|
|
TOTAL BORROWING |
2.947 |
1.441 |
0.568 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
4.718 |
2.881 |
2.028 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.084 |
0.173 |
0.120 |
|
|
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 |
0.709
|
0.603 |
0.629 |
|
|
Sundry Debtors |
7.693
|
5.837 |
4.745 |
|
|
Cash & Bank Balances |
0.342
|
0.294 |
0.165 |
|
|
Other Current Assets |
0.014
|
0.014 |
0.098 |
|
|
Loans & Advances |
2.044
|
1.403 |
1.235 |
|
Total
Current Assets |
10.802
|
8.151 |
6.872 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
6.018
|
4.796 |
4.007 |
|
|
Other Current Liabilities |
1.150
|
0.647 |
0.957 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
7.168
|
5.443 |
4.964 |
|
|
Net Current Assets |
3.634
|
2.708 |
1.908 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
4.718 |
2.881 |
2.028 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL |
|
22.401 |
17.382 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
21.876 |
16.877 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
0.525 |
0.505 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.194 |
0.200 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
0.331 |
0.305 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
16.73 |
5.53 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.48
|
1.75 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA |
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.42 |
6.07 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.29
|
0.35 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.71
|
4.78 |
3.79 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.51
|
1.50 |
1.38 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8:
|
Corporate identity number of the company |
U74899DL1995PTC068897 |
|
Name of the company |
VACTAL ENGINEERS PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
C-140, Flatted Factories Complex, Okhla
Phase-III, New Delhi – 110020, Delhi, India |
|
This form is for |
Modification of charge |
|
Type of charge |
Book Debts |
|
Particular of charge holder |
Dena Bank |
|
Nature of instrument creating charge |
Agreemnet Of Hypothecation |
|
Date of instrument Creating the charge |
28/02/2011 |
|
Amount secured by the charge |
Rs.3.000 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest As Per Agreemnet Of Hypothecation .At
Present On Cash Credit Dbbr+7.05% I.E 16.50%. On Bank Guarantee As Per Bank's
Norms Terms of Repayment Agreemnet Of Hypothecation Margin Cash Credit Margin: 25% On Stock, 50% Book Debts Upto
90 Days Bank Guarantee : 25 % Extent and Operation of the charge Agreemnet Of Hypothecation Others Agreemnet Of Hypothecation |
|
Particulars of the present modification |
Cash Credit Limit Enhanced To Rs. 2.000
Millions Bank Guarantee ( Financial/ Performance) Rs 10 Lac With Sub Limit Of Bank
Guarantee- Financial Rs 0.500 Million Other Terms And Conditions As Per Letter
Of Hypothecation Attached |
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.51.04 |
|
|
1 |
Rs.81.08 |
|
Euro |
1 |
Rs.67.39 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
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 |
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 |
|
42 |
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.