MIRA
INFORM REPORT
|
Report Date : |
09.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
NIJANAND PIPES AND FITTINGS PRIVATE LIMITED (w.e.f. 28.05.2010) |
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Formerly Known
As : |
Nijanand Technocast Private Limited |
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Registered
Office : |
Shivam Industrial Estate, Vavdi Survey No. 28, Naer Om Castings, B/H |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
26.05.2008 |
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Com. Reg. No.: |
04-054006 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.200 million |
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CIN No.: [Company Identification
No.] |
U25199GJ2008PTC054006 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Exporter and Supplier of UPVC Pipes, PVC Pipes, UPVC Fittings
and PVC Fittings. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
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 40000 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small company in its field. Its scale of activities are
limited. Trade relation are reported to be fair. Business is active. Payment
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) |
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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 |
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.
INFORMATION PARTED BY (General Details)
|
Name : |
Kalpesh Patel |
|
Designation : |
Chief Executive Officer |
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Contact No.: |
91-9426251370 |
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Date : |
03.08.2012 |
LOCATIONS
|
Registered Office : |
Survey No. 28, Near Om Castings, Shivam Industrial Estate, Gondal
Road, B/H Hotel Krishna Park, Rajkot – 360 004, Gujarat, India |
|
Tel. No.: |
91-281-6592856 / 2363340 / 2363350 |
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Mobile No.: |
91-8469777770 (Mr. Nirav Patel) |
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Fax No.: |
91-281-2363360 |
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E-Mail : |
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Website : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Nirav Ishwarbhai Nodhanvadra |
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Designation : |
Director |
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Address : |
SMIT |
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Date of Birth/Age : |
07.04.1988 |
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Date of Appointment : |
26.05.2008 |
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DIN No.: |
02174756 |
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Name : |
Ms. Sarojben Ishvarbhai Patel |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
18.12.1966 |
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Date of Appointment : |
26.05.2008 |
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DIN No.: |
02174104 |
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Name : |
Ms. Ramaben Kishorbhai Patel |
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Designation : |
Director |
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Address : |
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Date of Birth/Age : |
25.07.1970 |
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Date of Appointment : |
26.05.2008 |
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DIN No.: |
02174108 |
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Name : |
Mr. Ishvarlal Savjibhai Nondhanvadra |
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Designation : |
Director |
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Address : |
22/261, |
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Date of Birth/Age : |
03.07.1962 |
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Date of Appointment : |
26.05.2008 |
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DIN No.: |
02174768 |
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Name : |
Mr. Harsukhbhai Savjibhai Patel |
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Designation : |
Director |
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Address : |
Vaniyavadi, 9/3 Anmol Apartment, 3- Floor, Flat No. 11, |
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Date of Birth/Age : |
19.11.1965 |
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Date of Appointment : |
26.05.2008 |
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DIN No.: |
02174737 |
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Name : |
Mr. Shailesh Govindbhai Vadodaria |
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Designation : |
Director |
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Address : |
4, Kiran Society, Brahmani Krupa, |
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Date of Birth/Age : |
09.09.1984 |
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Date of Appointment : |
26.05.2008 |
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DIN No.: |
02174095 |
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Voter ID No.: |
JWH8371130 |
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Name : |
Ms. Kiranben Harsukhbhai Patel |
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Designation : |
Director |
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Address : |
Vaniyavadi, 9/3 Anmol Apartment, 3- Floor, Flat No. 11, |
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Date of Birth/Age : |
11.05.1968 |
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Date of Appointment : |
26.05.2008 |
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DIN No.: |
02174713 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Shaileshbhai Vadodaria |
|
1350 |
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Kiranben Patel |
|
1595 |
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Harsukhbhai Patel |
|
1250 |
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Sarojben Patel |
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2029 |
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Nirav Nodhanvadra |
|
2930 |
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Ishvarbhai Patel |
|
8096 |
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Ramaben Patel |
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2750 |
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TOTAL |
|
20000 |
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Equity Share Break up (Percentage of Total Equity)
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Supplier of UPVC Pipes, PVC Pipes, UPVC
Fittings and PVC Fittings. |
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Products : |
·
HDPE Pipes ·
Sprinkler Pipes ·
UPVC and PVC Pipes ·
UPVC Column Pipes ·
Sprinkler Fittings ·
UPVC Fittings |
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Terms : |
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Selling : |
L/C / Cash / Credit |
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Purchasing : |
L/C / Cash / Credit |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
SADP and Company Chartered Accountant |
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Address : |
B B House, 5 Collegewadi, |
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PAN No.: |
ABMFS0241G |
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CAPITAL STRUCTURE
As on 30.09.2011
Authorized Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
20000 |
Equity Shares |
Rs. 10/- each |
Rs.0.200 million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
20000 |
Equity Shares |
Rs. 10/- each |
Rs.0.200 million |
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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 |
0.200 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.695 |
0.000 |
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3] Reserves & Surplus |
11.024 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
11.224 |
0.795 |
0.100 |
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LOAN FUNDS |
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1] Secured Loans |
37.560 |
0.000 |
0.000 |
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2] Unsecured Loans |
5.552 |
2.859 |
0.000 |
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TOTAL BORROWING |
43.112 |
2.859 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
54.336 |
3.654 |
0.100 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
24.829 |
1.278 |
0.000 |
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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 |
1.181 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
10.635
|
0.000 |
0.000 |
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Sundry Debtors |
0.855
|
0.000 |
0.000 |
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Cash & Bank Balances |
0.321
|
0.156 |
0.080 |
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Other Current Assets |
4.128
|
0.177 |
0.000 |
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Loans & Advances |
15.394
|
2.000 |
0.000 |
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Total
Current Assets |
31.333
|
2.333 |
0.080 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
2.993
|
0.000 |
0.000 |
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Other Current Liabilities |
0.008
|
0.000 |
0.000 |
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Provisions |
0.045
|
0.000 |
0.000 |
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Total
Current Liabilities |
3.046
|
0.000 |
0.000 |
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Net Current Assets |
28.287
|
2.333 |
0.080 |
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MISCELLANEOUS EXPENSES |
0.039 |
0.043 |
0.020 |
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TOTAL |
54.336 |
3.654 |
0.100 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
6.104 |
0.000 |
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Other Income |
N.A. |
0.000 |
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TOTAL |
N.A. |
0.000 |
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EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
16.881 |
0.000 |
N.A. |
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PROFIT BEFORE
TAX |
(0.056) |
0.000 |
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TAX |
(1.180) |
0.000 |
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PROFIT AFTER TAX
|
1.124 |
0.000 |
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Earnings Per
Share (Rs.) |
74.22 |
0.000 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
N.A.
|
0.00 |
N.A. |
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Net Profit Margin (PBT/Sales) |
(%) |
(0.91)
|
0.00 |
N.A. |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(0.09)
|
0.00 |
N.A. |
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Return on Investment (ROI) (PBT/Networth) |
|
(0.00)
|
0.00 |
N.A. |
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Debt Equity Ratio (Total Liability/Networth) |
|
4.11
|
3.59 |
0.00 |
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Current Ratio (Current Asset/Current Liability) |
|
10.28
|
0.00 |
0.00 |
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
two years |
Yes |
|
12] |
Profitability for last
two 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 |
Yes |
|
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] |
PAN of
Proprietor/Partner/Director, if available |
No |
|
32] |
Passport No of
Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
Yes |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U25199GJ2008PTC054006 |
|
Name of the
company |
NIJANAND PIPES AND
FITTINGS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Shivam Industrial
Estate, Vavdi Survey No. 28, Near Om Casting, B/H Rajkot-360002,gujarat,
e-mail: samirbhuptani@hotmail.com |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10344041 |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Dena Bank, Kenal
Road, Near Karanpara, e-mail: canalr@denabank.co.in |
|
Nature of
instrument creating charge |
Instrument Relating
To Deposit Of Title Deeds |
|
Date of
instrument Creating the charge |
28.03.2012 |
|
Amount secured by
the charge |
Rs. 59.500
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit -
BR+2.65=13.35 % Term Loan (Plant
& Machinary) - BR+2.65+TP= 13.85 % Term Loan II -
(Plant And Machienry New) - BR+2.65+TP= 13.85 % Terms of Repayment Cash credit : On
Demand Term Loan (Plant
& Machinery) - Repaid Within 50 Equal Monthly Installments Of 0.500
Millions Term Loan II -
Repaid Within 60 Months With 5 months Moratorium Period. Repayment to Start
from 5 month of Date Of First Disbursment or June 2012 Whichever is Earlier. Margin Stock - 25 % Book Debt - 50 % Term Loan (Plant
& Machinary Old ) - 25% Term Loan Ii
(Plant And Machinery New) - 35% Extent and Operation of the charge The Charge of the
Bank Operates to Cover Repayement of Entire Credit Facility of Rs. 59.500 millions together
with Interest, Commission, Discount, Charges And Cost or Expense Payable or
Incurred by the Bank on Behalf of the Company. Others Sr. No. Nature of Facility Existing ------
----------------------
------------- 1. Cash Credit 22000000 2. Term Loan 25000000 (Plant & Machinary Old) 3. Term Loan II 12500000 (Plant & Machinary New) ________ Total 59500000/- |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Industrial Shed
constructed on total land adm. Sq. Mt. 1954-38 of plot no. 72/73/74 of R. S. No.
28 paikee and plot no. 1/2/29 and 30 of Vibhag B from R. S. NO. 29 paikee of
Vill: Vavdi, Tal: |
|
Particulars of
the present modification |
The Charge now
Extend and Covers the Limit of Rs. 59.500 millions by way of Equitable
Mortgage on Immovable Property of the Company with all other Charges Previously Created. |
FIXED ASSETS:
·
Air Conditioners
·
Computer
·
Electric Fittings
·
Lab
·
Machinery
·
Trademark
·
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.55.14 |
|
|
1 |
Rs.86.00 |
|
Euro |
1 |
Rs.68.31 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
|
|
Report Prepared
by : |
NID |
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 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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 |
No |
|
--AFFILIATION |
YES/NO |
No |
|
--LISTED |
YES/NO |
No |
|
--OTHER MERIT FACTORS |
YES/NO |
Yes |
|
TOTAL |
|
27 |
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.