MIRA
INFORM REPORT
|
Report Date : |
07.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
CENOTECH INDIA PRIVATE LIMITED (w.e.f. 30.07.2009) |
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|
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Formerly Known
As : |
CENO TECH CONSUMABLES PRIVATE LIMITED |
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Registered
Office : |
D 236, Sushant Lok - 1, Sector 43, Gurgoan – 122002, Haryana |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
06.12.2004 |
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Com. Reg. No.: |
05-035550 |
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Capital
Investment / Paid-up Capital : |
Rs.14.000 Millions |
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CIN No.: [Company Identification
No.] |
U51909HR2004PTC035550 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Supplier and Trader of Rapid Joint, Magic Joint, Magic Fluid, Gel, Skyplast, Adhesive Tapes, Surge Protection, Surge Protection for Railways |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
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 61000 |
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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 record.
Reserve of the company seem to be insufficient. However, trade relations are
reported to be fair. Business is active. Payments are reported to be slow but
correct. The company can be considered for business dealing with some caution. |
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, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
D 236, Sushant Lok -1, Sector 43, Gurgoan – 122002, Haryana, India |
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Tel. No.: |
Not Available |
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Mobile No.: |
91-9958997033 (Mr. Aamir Humayun) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office : |
F-83, Sushant Lok, Phase 2, Gurgaon - 122002, Haryana, India |
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Tel. No.: |
91-124-4278057 |
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Fax No.: |
91-124-4278048 |
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Branch Office : |
103, A-31/2, Street No.1, Mahipalpur, New Delhi-110037, India |
DIRECTORS
As on 29.09.2011
|
Name : |
Mr. Tayyaba Amir |
|
Designation : |
Director |
|
Address : |
D 236, Sushant Lok -1, Sector 43, Gurgoan – 122002, Haryana, India |
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Date of Appointment : |
20.12.2004 |
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DIN No.: |
02579331 |
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Name : |
Mr. Aamir Humayun |
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Designation : |
Director |
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Address : |
D 236, Sushant Lok -1, Sector 43, Gurgoan – 122002, Haryana, India |
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Date of Appointment : |
06.12.2004 |
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DIN No.: |
01325306 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Tayyaba Amir |
|
547080 |
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Aamir Humayun |
|
852920 |
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Total |
|
1400000 |
As on 29.09.2011
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 : |
Supplier and Trader of Rapid Joint, Magic Joint, Magic
Fluid, Gel, Skyplast, Adhesive Tapes, Surge Protection, Surge Protection for
Railways |
|
|
|
|
Products : |
· Pittas · Hakel · Kml Exothermic · Meg · Ceno Rods · Firepro · Honeywell’s Fire Detection System |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
· State Bank of India, Commercial Branch Naraina, New Delhi - 110028, India ·
Barclays Bank ·
ABN Amro Bank ·
HDFC Bank · Axis Bank Limited · KOTAK Mahindra Bank Limited |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Padam Dinesh and Company Chartered Accountants |
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Address : |
11/6B, Shanti Chambers, Pusa Road, New Delhi – 110005, India |
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Tel. No.: |
91-11-25818726 / 27 / 47060111 (10 Limes) |
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Fax No.: |
91-44-47060119 |
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E-Mail : |
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PAN.: |
AAAFP9361P |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
1400000 |
Equity Shares |
Rs.10/- each |
Rs.14.000
Millions |
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|
Of the above shares 1187080 Equity Shares are alloted as fully paid up by way of bonus shares by capitalization of Profits / Reserves
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
14.000 |
7.024 |
7.024 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1.412 |
6.653 |
4.158 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
15.412 |
13.677 |
11.182 |
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LOAN FUNDS |
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1] Secured Loans |
5.860 |
9.183 |
17.516 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
5.860 |
9.183 |
17.516 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
21.272 |
22.860 |
28.698 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.510 |
5.586 |
5.500 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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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|
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Inventories |
12.944
|
16.913 |
12.967 |
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Sundry Debtors |
20.514
|
27.257 |
32.039 |
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Cash & Bank Balances |
0.213
|
0.038 |
0.105 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
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Loans & Advances |
10.874
|
9.318 |
13.339 |
|
Total
Current Assets |
44.545
|
53.526 |
58.450 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
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Sundry Creditors |
13.696
|
19.853 |
21.815 |
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Other Current Liabilities |
12.362
|
15.229 |
12.045 |
|
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Provisions |
0.725
|
1.170 |
1.400 |
|
Total
Current Liabilities |
26.783
|
36.252 |
35.260 |
|
|
Net Current Assets |
17.762
|
17.274 |
23.190 |
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|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.008 |
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|
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TOTAL |
21.272 |
22.860 |
28.698 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
|
56.400 |
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Other Income |
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TOTAL |
43.544 |
56.400 |
70.992 |
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Less |
EXPENSES |
|
|
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Office Expenses |
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Administrative Expenses |
41.407 |
52.728 |
65.304 |
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Advertising Expenses |
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TOTAL |
41.407 |
52.728 |
65.304 |
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PROFIT BEFORE
TAX |
2.137 |
3.672 |
5.688 |
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Less |
TAX |
0.725 |
1.062 |
1.225 |
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PROFIT AFTER TAX
|
1.412 |
2.610 |
4.463 |
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IMPORTS |
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Raw Materials |
5.831 |
13.423 |
15.756 |
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TOTAL IMPORTS |
5.831 |
13.423 |
15.756 |
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Earnings Per
Share (Rs.) |
1.03 |
3.72 |
5.93 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.24
|
4.63 |
6.29 |
|
|
|
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|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.45
|
6.21 |
8.89 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.27 |
0.51 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.12
|
3.32 |
4.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.66
|
1.48 |
1.66 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
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 three 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 involved in |
---------------------- |
|
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) |
|
31] |
Date of Birth of Proprietor/Partner/Director, if available |
(No) |
|
32] |
PAN of Proprietor/Partner/Director, if available |
(No) |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
(No) |
|
34] |
External Agency Rating, if available |
(No) |
CONTINGENT
LIABILITIES:
Rs. In Millions
|
Particular |
31.03.2011 |
|
Guarantees Given |
5.044 |
|
Less: Margin Money |
1.261 |
|
Net being Contingent Liability |
3.783 |
i. Any reimbursement against a provision expected from an insurance or other is not recognized unless there is its virtual certainty.
ii. A contingent liability is not recognized in the financial statements. It is only disclosed in the notes.
iii. A contingent asset is neither recognized in the financial statement nor disclosed in the notes.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U51909HR2004PTC035550 |
|
Name of the
company |
CENOTECH INDIA
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
D 236, Sushant Lok -1, Sector 43, Gurgoan – 122002, Haryana, India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10038166 |
|
Type of charge |
· Immovable property · Book debts · Movable property (not being pledge) ·
Others (Personal Guarantee) |
|
Particular of
charge holder |
State Bank of India, Commercial Branch Naraina, New Delhi - 110028, India |
|
Nature of
instrument creating charge |
1. Company's Board Resolution Dated 17.02.2012 2. Sanction Letter Dated 17.02.2012 3. Letter of Arrangement Sme-1 Dated 24.02.2012 4. Suppl. Agreement Of Loan-Cum-Hypothecation. Sme-4 Dated 24.02.2012 5. Guarantee Agreement Sme-3 Dated 24.02.2012 6. Letter of Confirmation For Extension Mortgage Sme-8 Dated 24.02.2012 |
|
Date of
instrument Creating the charge |
24.02.2012 |
|
Amount secured by
the charge |
Rs.27.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit: 6.50
% above Base Rate, present effective rate 16.50 % p.a. with monthly rests. Terms of Repayment Cash
Credit/BG/LC: Repayable on demand. Margin 1. Cash
Credit RM : 25%, SIP :
30%, FG : 25% RECEIVABLES(COVER
90 DAYS) : 40% 2. LC/BG : 25 % Extent and Operation of the charge 100 % |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Primary: CC/LC/BG
: First charge of entire currents assets of the company including stock of
raw material/ SIP/FG, stores, spares, stock in transit, present and future
book debts, receivables. Collateral:
EM of residential house no. 236, Block-D, Sushant Lok-1, Gurgaon measuring
350 sq.mtrs and covered area 2773 sq fts. in the name of Mr. Aamir Humayun. Guarantee-
Personal Guarantee of :- 1. Sh. Aamir
Humayun. 2. Smt. Tayabba
Khan Aamir. |
|
Particulars of
the present modification |
The limit is
enhanced to Rs. 27.500 Millions as per the following details:- Rs. In Millions Limit Existing Proposed Cash Credit 5.000 7.500 LC 6.000 12.000 BG 4.000 8.000 Total 15.000 27.500 |
FIXED ASSETS
· Landed Property
· Furniture and Fixture
· Computers
· Air Conditioner
· Motor Vehicle
· Digital camera
· Generator
· Inverter and Batteries
· Mobile Hand Set
· Motor Cycle
· Plant and Machinery
· Refrigerator
· Water System
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 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.55.47 |
|
|
1 |
Rs.86.60 |
|
Euro |
1 |
Rs.68.66 |
INFORMATION DETAILS
|
Report Prepared
by : |
NTH |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
NO |
|
--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.