MIRA INFORM REPORT
|
Report Date : |
23.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
NOVO TECHNOLOGIES PRIVATE LIMITED |
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Registered
Office : |
16-A, Shakespeare Sarani, Kolkata – 700071, West |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
20.01.2006 |
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Com. Reg. No.: |
21-107426 |
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Capital
Investment / Paid-up Capital : |
Rs.2.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U72900WB2006PTC107426 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CALN03857A |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Trader of Lighting Goods. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (16) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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|
|
Payment Behaviour : |
Slow and delayed |
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|
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Litigation : |
Clear |
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|
Comments : |
Subject is a relatively small company in its field. Its scale of
activities are finite. It is having moderate track. It has achieved minimal sales during 2011. It has incurred loss in
this year also. Accumulated losses of the company appears to be increasing
over years. Financially, the company appears to be weak. Business is active.
Payments are reported to be slow and delayed. The company can be considered for small business dealings with some
cautions. |
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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 : |
16-A, Shakespeare Sarani, Kolkata – 700071, West |
|
Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Factory : |
Plot No.59HC, Noida Special Economic Zone, Phase II, Noida – 201305, |
DIRECTORS
(AS ON 30.09.2011)
|
Name : |
Mr. Vinay Agarwal |
|
Designation : |
Director |
|
Address : |
4/149, Vishesh Khand – 4, Gomtinagar, |
|
Date of Birth/Age : |
17.02.1968 |
|
Date of Appointment : |
20.01.2006 |
|
DIN No.: |
00751822 |
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|
|
|
Name : |
Mrs. Parul Agarwal |
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Designation : |
Director |
|
Address : |
4/149, Vishesh Khand – 4, Gomtinagar, |
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Date of Birth/Age : |
11.06.1972 |
|
Date of Appointment : |
20.01.2006 |
|
DIN No.: |
03471283 |
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|
|
|
Name : |
Mr. Tapas Kumar Chatterjee |
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Designation : |
Director |
|
Address : |
2016, 1st Floor, Block – A, Jaya Apartment, Boral |
|
Date of Birth/Age : |
11.07.1943 |
|
Date of Appointment : |
20.01.2006 |
|
DIN No.: |
00057905 |
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|
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|
Name : |
Mr. Ajay Kumar Agarwal |
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Designation : |
Director |
|
Address : |
SW-501, Rohatas Golf Link Appartment, M |
|
Date of Birth/Age : |
22.04.1961 |
|
Date of Appointment : |
25.01.2010 |
|
DIN No.: |
00144430 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2011)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Intercraft Engineering (Private) Limited, |
|
9000 |
|
Vinay Agarwal Joint with Intercraft Engineering (Private) Limited, |
|
1000 |
|
Vinay Agarwal |
|
70000 |
|
Banana Estate Devlopers (Private) Limited, |
|
67500 |
|
Jolen Marketing (Private) Limited, |
|
35000 |
|
Ajay Kumar Agarwal |
|
17500 |
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|
|
|
|
Total |
|
200000 |
(AS ON 30.09.2011)
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Bodies corporate |
|
56.25 |
|
Directors or relatives of directors |
|
43.75 |
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|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Lighting Goods. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Not Available |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
J B S and Company Chartered Accountant |
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Address : |
60, |
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Tel No.: |
91-33-22254828/ 22254829 |
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Fax No.: |
91-33-40070735 |
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PAN No.: |
AADFJ9827D |
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Associates : |
· Intercraft Engineering Private Limited · Banana Estate Developers Private Limited |
CAPITAL STRUCTURE
(AS ON 30.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.10/- each |
Rs.2.000 Millions |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.10/- each |
Rs.2.000 Millions |
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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 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.000 |
2.000 |
1.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.900 |
0.900 |
0.900 |
|
|
4] (Accumulated Losses) |
(3.491) |
(2.478) |
(0.422) |
|
|
NETWORTH |
(0.591) |
0.422 |
1.478 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.200 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.200 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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TOTAL |
(0.591) |
0.622 |
1.478 |
|
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|
|
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APPLICATION OF FUNDS |
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|
|
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|
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|
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FIXED ASSETS [Net Block] |
9.238 |
9.570 |
5.001 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
4.759 |
|
|
|
|
|
|
|
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INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000 |
0.975 |
0.133 |
|
|
Sundry Debtors |
0.000 |
0.151 |
0.136 |
|
|
Cash & Bank Balances |
1.385
|
0.464 |
0.314 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
0.511
|
0.666 |
0.704 |
|
Total
Current Assets |
1.896
|
2.256 |
1.287 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
10.189
|
11.053 |
9.273 |
|
|
Other Current Liabilities |
1.552 |
0.175 |
0.328 |
|
|
Provisions |
0.000 |
0.000 |
0.000 |
|
Total
Current Liabilities |
11.741
|
11.228 |
9.601 |
|
|
Net Current Assets |
(9.845)
|
(8.972) |
(8.314) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.016 |
0.024 |
0.032 |
|
|
|
|
|
|
|
|
TOTAL |
(0.591) |
0.622 |
1.478 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
3.498 |
0.904 |
|
|
|
Other Income |
|
0.154 |
0.010 |
|
|
|
TOTAL |
3.674 |
3.652 |
0.914 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
1.085 |
0.081 |
|
|
|
Cost of Materials Consumed |
|
1.945 |
0.000 |
|
|
|
Expenses related to contract |
4.355 |
1.259 |
0.645 |
|
|
|
Administrative and Other Expenses |
|
1.131 |
0.558 |
|
|
|
Preliminary Expenses Written Off |
|
0.008 |
0.008 |
|
|
|
TOTAL |
4.355 |
5.428 |
1.292 |
|
|
|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(0.681) |
(1.776) |
(0.378) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.332 |
0.279 |
0.044 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
(1.013) |
(2.055) |
(0.422) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
(1.013) |
(2.055) |
(0.422) |
|
|
|
|
|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(2.477) |
(0.422) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(3.490) |
(2.477) |
(0.422) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Commission received |
0.000 |
0.124 |
0.000 |
|
|
TOTAL EARNINGS |
0.000 |
0.124 |
0.000 |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
0.601 |
1.880 |
0.000 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
(5.07) |
(19.24) |
(4.22) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
(27.57)
|
(56.27) |
(46.17) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
(58.75) |
(46.68) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
(9.10)
|
(17.38) |
(6.71) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.71
|
(4.87) |
(0.29) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(19.87)
|
27.08 |
6.50 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.16
|
0.20 |
0.13 |
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 |
Yes |
|
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 |
No |
|
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 |
Yes |
|
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 |
BUSINESS REVIEW:
NSEZ Unit Operations
The company had commenced the construction at
59 H(C) Noida special economic Zone Unit in the year 2006 and complete
construction of Ground Floor and Boundary wall and other general amenities in
last F.Y. further construction activity on this project was stopped due major
showdown in export markets. The company commenced operations in December, 2008
in this unit, but could execute only few orders in the current financial year.
Now since Global economy has started
recovering, the general scenario for exports and SEZ Project in the is also
improving and the company is confided of doing goods business in coming years
and recovering back the earlier losses.
FIXED ASSETS:
·
· Plant and Machinery
· Panel Commissioning
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.55.51 |
|
|
1 |
Rs.87.60 |
|
Euro |
1 |
Rs.69.15 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
16 |
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.