|
Report Date : |
21.04.2012 |
IDENTIFICATION DETAILS
|
Name : |
ZIRCON TECHNOLOGIES (INDIA) LIMITED
(w.e.f. 15.07.2008) |
|
|
|
|
Formerly Known
As : |
ZIRCON TECHNOLOGIES (INDIA) LIMITED (w.e.f. 27.05.2008) ZIRCON TECHNOLOGIES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No. 2B-1226, G D Colony, Mayur Vihar, Phase III, New Delhi-110096 |
|
|
|
|
Country : |
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|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
16.02.1999 |
|
|
|
|
Com. Reg. No.: |
55-098428 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.13.455 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51397DL1999PLC098428 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELZ00303C |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Packaging Labels. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 250000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is and 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 for normal 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) |
|
|
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 : |
No. 2B-1226, G D Colony, Mayur Vihar, Phase III, New Delhi-110096, |
|
Tel. No.: |
91-120-4320636 |
|
Fax No.: |
91-120-2586789 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office : |
F – 101, Selaqui
Industrial Area, |
|
Tel. No.: |
91-120-4320636 |
|
Fax No.: |
91-120-2586789 |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
E-40, Sector 8, Noida-201301, |
|
Tel. No.: |
91-120-4263757/ 4263758/ 43250636/ 4320637 |
|
Fax No.: |
91-120-4263758 |
|
E-Mail : |
|
|
|
|
|
Factory : |
GF, E-144, Sector 55, NOIDA 201 301, Uttar Pradesh |
|
Tel. No.: |
91 120 432 0636, 432 0637, 446 3757, 446 3758 |
|
Fax No.: |
91 120 258 6789 |
|
E-Mail : |
DIRECTORS
As on 26.09.2011
|
Name : |
Mr. Sanjeev
Sondhi |
|
Designation : |
Director |
|
Address : |
E-703 Pavitara
Apartment, Vasundara Enclave, Mayur Vihar, Phase - III, |
|
Date of Birth/Age : |
29.12.1966 |
|
Date of Appointment : |
07.11.2002 |
|
DIN No.: |
01053263 |
|
|
|
|
Name : |
Ms. Poonam Sondhi |
|
Designation : |
Director |
|
Address : |
E-703 Pavitara
Apartment, Vasundara Enclave, Mayur Vihar, Phase - III, |
|
Date of Birth/Age : |
25.03.1970 |
|
Date of Appointment : |
07.11.2002 |
|
DIN No.: |
01053297 |
|
|
|
|
Name : |
Mr. Tilak Raj Sondhi |
|
Designation : |
Director |
|
Address : |
B-67, Sector 55,
NOIDA 201 301, |
|
Date of Birth/Age : |
08.10.1939 |
|
Date of Appointment : |
16.02.1999 |
|
DIN No.: |
01165887 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Poonam Sondhi |
|
4000 |
|
Sanjeev Sondhi |
|
1341000 |
|
Tilak Raj Sondhi |
|
100 |
|
Anjana Sondhi |
|
100 |
|
Prem Lata |
|
100 |
|
Mamta Vig |
|
100 |
|
Yesh Veer Singh |
|
100 |
|
Total |
|
1345500 |
As on 26.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Packaging Labels. |
|
|
|
|
Products : |
|
PRODUCTION STATUS
|
Particulars |
31.03.2011 |
|
Licensed Capacity |
240.00 Lac sq.
mt |
|
Installed Capacity |
113.50 Lac sq.
mt |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
K.B. Chandna and Company Chartered AccountantS |
|
Address : |
E-27, South Extention-II, New Delhi-110049, |
|
PAN.: |
AAAFK3189J |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000000 |
Equity Shares |
Rs.10/- each |
Rs,100.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1345500 |
Equity Shares |
Rs.10/- each |
Rs.13.455
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 |
13.455 |
8.355 |
6.855 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
49.905 |
33.584 |
18.807 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
63.360 |
41.939 |
25.662 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
63.994 |
15.589 |
19.443 |
|
|
2] Unsecured Loans |
7.134 |
2.736 |
5.193 |
|
|
TOTAL BORROWING |
71.128 |
18.325 |
24.636 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
134.488 |
60.264 |
50.298 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
132.550 |
56.962 |
25.581 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
1.203 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.016 |
1.016 |
0.503 |
|
|
DEFERREX TAX ASSETS |
0.061 |
1.109 |
(0.142) |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
13.504
|
5.582 |
11.778
|
|
|
Sundry Debtors |
54.767
|
29.738 |
21.687
|
|
|
Cash & Bank Balances |
26.582
|
29.587 |
8.216
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
13.123
|
10.353 |
5.388
|
|
Total
Current Assets |
107.976
|
75.260 |
47.069 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
63.487
|
65.580 |
19.116 |
|
|
Other Current Liabilities |
34.492
|
3.276 |
2.200 |
|
|
Provisions |
9.532
|
5.420 |
2.650 |
|
Total
Current Liabilities |
107.511
|
74.276 |
23.966 |
|
|
Net Current Assets |
0.465
|
0.984 |
23.103
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.396 |
0.193 |
0.050 |
|
|
|
|
|
|
|
|
TOTAL |
134.488 |
60.264 |
50.298 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
238.762 |
161.736 |
91.509 |
|
|
|
Other Income |
6.065 |
4.587 |
2.738 |
|
|
|
TOTAL (A) |
244.827 |
166.323 |
94.247 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Increase or decrease in stocks |
(7.922) |
6.196 |
(3.742) |
|
|
|
Purchase of goods and materials |
159.013 |
97.879 |
52.099 |
|
|
|
Purchase import |
2.149 |
1.822 |
5.504 |
|
|
|
Other direct expenses |
16.316 |
12.359 |
5.659 |
|
|
|
Personnel expenses |
14.690 |
8.236 |
7.915 |
|
|
|
Administration, selling and other expenses |
16.163 |
10.146 |
9.429 |
|
|
|
TOTAL (B) |
200.409 |
136.638 |
76.864 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
44.418 |
29.685 |
17.383 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
5.506 |
3.552 |
3.829 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
38.912 |
26.133 |
13.554 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
17.245 |
9.675 |
4.617 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
(E-F) (G) |
21.667 |
16.458 |
8.937 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
5.346 |
1.682 |
1.519 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
16.321 |
14.776 |
7.418 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
33.584 |
18.808 |
11.390 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
49.905 |
33.584 |
18.808 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
0.939 |
2.440 |
0.573 |
|
|
|
Services received |
0.052 |
0.000 |
0.000 |
|
|
TOTAL EARNINGS |
0.991 |
2.440 |
0.573 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
2.313 |
1.821 |
5.437 |
|
|
|
Stores & Spares |
39.054 |
26.368 |
0.000 |
|
|
TOTAL IMPORTS |
41.367 |
28.189 |
5.437 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
12.13 |
17.68 |
11.76 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
6.67
|
8.88 |
7.87 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
9.07
|
10.18 |
9.48 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.01
|
12.45 |
12.30 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.34
|
0.39 |
0.35 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.82
|
2.24 |
1.89 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.00
|
1.01 |
1.96 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
No |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last two years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
FUTURE OUTLOOK
The Directors are hopeful of doing better business during the coming year, as they are looking for new avenues in the business with a view to ensure more profitability in the business
CONTINGENT
LIABILITIES
Under EPCG Scheme, the company has availed concession in custom duty on Capital Goods amounting to Rs.7.407 Millions under EPCG Authorisation No. 0530152476/3/11/0008/2009 dated 11.09.2009
[The Company is obliged to fulfil the terms and conditions specified in license and the export obligations specified in EPCG Authorization No. 0530152476/3/11/0008/2009 dated 11.09.2009. For assuring the aforesaid obligation and similar other obligations arising in future, if any, the company has issued a bond of Rs.14.800 Millions, binding itself to the President of India through deputy Commissioner of Customs vide “Bond Under Notification No. 97/2004 dated 17.09.2004.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U51397DL1999PLC098428 |
|
Name of the
company |
ZIRCON TECHNOLOGIES ( |
|
Address of the registered
office or of the principal place of
business in |
No. 2B-1226, G D Colony, Mayur Vihar, Phase III, New Delhi-110096, |
|
This form is for |
Creation
of charge |
|
Type of charge |
|
|
Particular of
charge holder |
Bank of |
|
Nature of
instrument creating charge |
Hypothecation Cum
Loan Agreement (Plant And Machinery, Stocks And Book Debts). |
|
Date of
instrument Creating the charge |
13.03.2012 |
|
Amount secured by
the charge |
Rs.11.200
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest 3.75% over Base
Rate presently 14.50%p.a. with monthly rests. Terms of Repayment Term Loan is repayable
in 60 monthly installments of Rs.0.187 Millions each commencing March 2013,
interest to be served as and when applied. Margin As prescribed by
the Bank from time to time. Extent and Operation of the charge First charge on
all the hypothecated movable assets of the Company as mentioned. Others The charge is
created to secure the fresh Term Loan of Rs.11.200 Millions granted by the
Bank to the Company. |
Fixed Assets:
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.52.00 |
|
|
1 |
Rs.83.54 |
|
Euro |
1 |
Rs.68.40 |
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 |
NO |
|
--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 |
|
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.