MIRA
INFORM REPORT
|
Report Date : |
08.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
CONSULT TECHNIQUES ( |
|
|
|
|
Registered
Office : |
98, Village Tihar, Tilak Nagar, New Delhi-110018 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
16.02.1993 |
|
|
|
|
Com. Reg. No.: |
55-052178 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.884
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1993PTC052178 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturers of Plastic Moulded Components. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (36) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 232000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. The latest
financial of the company are not made available. As per previous year’s record,
the operations are carried out well. However, huge external borrowings are recorded by the company. Trade
relations are reported as fair. Business is active. Payments terms are
reported as unknown in absence of latest financials. The company can be considered for business dealings 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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including industrial
deregulation, privatization of state-owned enterprises, and reduced controls on
foreign trade and investment, began in the early 1990s and has served to
accelerate the country's growth, which has averaged more than 7% per year since
1997. India's diverse economy encompasses traditional village farming, modern
agriculture, handicrafts, a wide range of modern industries, and a multitude of
services. Slightly more than half of the work force is in agriculture, but
services are the major source of economic growth, accounting for more than half
of India's output, with only one-third of its labor force. India has
capitalized on its large educated English-speaking population to become a major
exporter of information technology services and software workers. In 2010, the
Indian economy rebounded robustly from the global financial crisis - in large
part because of strong domestic demand - and growth exceeded 8% year-on-year in
real terms. However, India's economic growth in 2011 slowed because of persistently
high inflation and interest rates and little progress on economic reforms. High
international crude prices have exacerbated the government's fuel subsidy
expenditures contributing to a higher fiscal deficit, and a worsening current
account deficit. Little economic reform took place in 2011 largely due to
corruption scandals that have slowed legislative work. India's medium-term
growth outlook is positive due to a young population and corresponding low
dependency ratio, healthy savings and investment rates, and increasing
integration into the global economy. India has many long-term challenges that
it has not yet fully addressed, including widespread poverty, inadequate
physical and social infrastructure, limited non-agricultural employment
opportunities, scarce access to quality basic and higher education, and
accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
SE 1B |
|
Rating Explanation |
Highest performance capability and moderate financial strength. |
|
Date |
09.08.2012 |
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 : |
98, Village Tihar, Tilak Nagar, New Delhi-110018, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
consulttechniques@airtel.com consulttechniques@airtelmail.in |
|
Website : |
|
|
|
|
|
Factory / Corporate office
: |
41-A, Industrial Area, NIT, Faridabad – 121001, Haryana, India |
|
Tel. No.: |
91-129-4024832/ 4024833/ 4024834 |
|
Fax No.: |
91-129-4025831 |
|
E-Mail : |
|
|
Area : |
40000 Sq.fts |
|
Location : |
Partial Owned and Partial Rented |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Bharat Lal Kukreja |
|
Designation : |
Director |
|
Address : |
2 M-23 BP, Faridabad-121004, Haryana, India |
|
Date of Birth/Age : |
25.04.1956 |
|
Qualification : |
Diploma in Mechanicals Engineering |
|
Date of Appointment : |
16.02.1993 |
|
Din No.: |
00289614 |
|
|
|
|
Name : |
Mr. Narayan Das Kukreja |
|
Designation : |
Director |
|
Address : |
2 M-23 BP, Faridabad-121004, Haryana, India |
|
Date of Birth/Age : |
12.05.1965 |
|
Date of Appointment : |
01.04.1994 |
|
Din No.: |
00289703 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Bharat Lal Kukreja |
|
141701 |
|
Narayan Das Kukreja |
|
111701 |
|
Renu Kukreja |
|
32500 |
|
Anita Kukreja |
|
2500 |
|
|
|
|
|
TOTAL
|
|
288402 |
AS ON 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers of Plastic Moulded Components. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
Bank of India, Faridabad SME Branch, 14/4, Mathura Road,
Faridabad-121003, Haryana, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rajan Chhabra and Company Chartered Accountants |
|
Address : |
32A, Sector 11 E, Faridabad-121006, Haryana, India |
|
PAN No: |
ADEPC6909K |
|
|
|
|
Associates/Subsidiaries : |
Jaiparash Trading Private Limited [U51909DL2005PTC141091] |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
288402 |
Equity Shares |
Rs.10/- each
|
Rs.2.884
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 |
2.884 |
2.884 |
2.884 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
55.164 |
42.816 |
30.366 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
58.048 |
45.700 |
33.250 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
55.220 |
31.551 |
7.009 |
|
|
2] Unsecured Loans |
14.885 |
3.160 |
2.784 |
|
|
TOTAL BORROWING |
70.105 |
34.711 |
9.793 |
|
|
DEFERRED TAX LIABILITIES |
3.378 |
2.887 |
2.743 |
|
|
|
|
|
|
|
|
TOTAL |
131.531 |
83.298 |
45.786 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
91.806 |
66.639 |
36.463 |
|
|
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 |
9.369
|
7.178 |
3.389 |
|
|
Sundry Debtors |
74.260
|
63.215 |
32.940 |
|
|
Cash & Bank Balances |
18.432
|
17.911 |
17.672 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
34.625
|
11.211 |
4.408 |
|
Total
Current Assets |
136.686
|
99.515 |
58.409 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
42.814
|
54.552 |
28.652 |
|
|
Other Current Liabilities |
48.162
|
21.783 |
15.948 |
|
|
Provisions |
6.065
|
6.521 |
4.486 |
|
Total
Current Liabilities |
97.041
|
82.856 |
49.086 |
|
|
Net Current Assets |
39.645
|
16.659 |
9.323 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.080 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
131.531 |
83.298 |
45.786 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
456.765 |
330.633 |
|
|
|
|
Other Income |
1.000 |
0.801 |
|
|
|
|
TOTAL |
457.765 |
331.434 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
431.482 |
306.404 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
26.283 |
25.030 |
|
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
7.379 |
5.915 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
18.904 |
19.115 |
13.442 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
6.557 |
6.665 |
4.735 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
12.347 |
12.450 |
8.707 |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
42.81 |
43.17 |
30.19 |
|
%20PRIVATE%20LIMITED%20-%20202997%2008-Dec-2012_files/image001.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.70
|
3.75 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.14
|
5.78 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.27
|
11.50 |
14.17 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.33
|
0.42 |
0.40 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.88
|
2.57 |
1.77 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.41
|
1.20 |
1.19 |
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 |
Yes |
|
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 |
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 |
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 |
No |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Date
of Birth of Proprietor/Partner/Director, if available |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating, if available |
Yes |
NOTE:
The registered office of the company has been shifted from 145, Village Tihar, Tilak Nagar, New Delhi, India to the present address w.e.f. 20.09.2010
PERFORMANCE:
Due to lots of efforts of the management of the
company, turnover have been improved. However, due to pressure on the margins
of the company profitability before tax has reduced marginally. The management
is assured about the improved performance for the coming year also.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10214454 |
|
Corporate
identity number of the company |
U74899DL1993PTC052178 |
|
Name of the
company |
CONSULT TECHNIQUES
(INDIA) PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
98, Village Tihar, Tilak Nagar, New Delhi-110018, India |
|
Type of charge |
Book Debts Movable Property
[not being pledge] Immovable
Property Others |
|
Particular of
charge holder |
Bank of India, Faridabad SME Branch, 14/4, Mathura Road,
Faridabad-121003, Haryana, India |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
As per
Supplemental Deed of Hypothecation between Bank of India and Consult
Technique (I) Private Limited for Fund Based as well as non fund based limit
of Rs.75.519 Millions |
|
Date of
instrument Creating the charge |
17.07.2012 |
|
Amount secured by
the charge |
Rs.75.519
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit Limit
@ 2.75% over Base rate T. Loan I, II,
III, IV @ 3.25% over Base rate Letter of Credit-
As per Bank guidelines Terms of Repayment Cash Credit- as
and when demanded by bank subject to annual review. Tl-1 60 EMI of
Rs. 0.063 Million from July 2008 Tl-2 60 EMI of
Rs.0.909 Million from September 2010 Tl-3 60EMI of Rs.
0.279 Million from June 2010 Tl-4 60 EMI of
Rs. 0.686 Million from September 2011 Margin Fund based
facilities: Cash Credit Stock
- 25% Cash Credit Book
Debt - 40% Term Loan : Tl-1 - 25% Tl-2 - 25% Tl-3 - 25% Tl-4 -25% Non fund based
facilities: LC - 25% Extent and Operation of the charge As per
Supplemental Deed of Hypothecation between Bank of India and Consult
Technique (I) Private Limited. |
|
Short particulars
of the property charged |
Hypothecation of
entire stocks of raw material, W.I.P, finished goods stores and spare parts
and other chargeable current asset wherever situated as well as entire
receivables of the company. Mortgage of land
and building situated at 136, industrial Area, Sector-59 ii, near mathura
Road (NH-2) owned by the company admeasuring 5249.60 Sq. Yds. Hypothecation of
plant and machinery. And is
collaterally secured by Equitable mortgage of H.NO.-2 M 23, N.I.T Faridabad owned
by Mr. Bharat Kukreja And Equitable
mortgage of Plot No. 41 D and E Industrial Area N.I.T Faridabad owned by the
company. |
|
Date of latest
modification prior to the present modification |
21.03.2011 |
|
Particulars of
the present modification |
The Revised
Facilities are as follows: Cash Credit
(Stocks) from Rs. 1.500 Millions to Rs. 10.000 Millions Book Debts from
Rs. 1.500 Millions to Rs.10.000 Millions (Subject to a
maximum of Rs. 10.000 Millions) T.L.1 from 1.872
Millions to 0.747 Millions T.L.2 from Rs.
39.758 Millions to Rs. 30.262 Millions T.L.3 From Rs.
11.661 Millions to Rs. 8.433 Millions T.L.4 From
Rs.30.000 Millions to Rs. 26.077 Millions Non Fund Based LC Rs.9.528
Millions to Rs. 5.000 Millions (Part of Cash
Credit Limit) |
FIXED ASSETS:
·
Car
·
Cooler
·
Computer
·
Electric Installation
·
Crane
·
Photocopy Machine
·
Tata Ace
·
Lift
·
Water Cooler
·
Fan
·
Kits and Tools
·
Land and Building
·
Cooling Tower
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.54.20 |
|
|
1 |
Rs.87.00 |
|
Euro |
1 |
Rs.70.22 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
36 |
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.