MIRA
INFORM REPORT
|
Report Date : |
01.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
GANESH LOCO COMPONENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
27-Section 7, New |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
18.09.1990 |
|
|
|
|
Com. Reg. No.: |
17-005598 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.2.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U34109RJ1990PTC005598 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Casting, Stainless Steal Components etc. |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
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 |
|
Maximum Credit Limit : |
USD 17000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track recodes. The
company has been successful in wipping – off the accumulated losses of
previous years. Trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for 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 – 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 |
INFORMATION PARTED BY
|
Name : |
Mr. Surendra Kumar Bishnoi |
|
Designation : |
Director |
|
Contact No.: |
91-9829026430 |
|
Date : |
20.01.2012 |
LOCATIONS
|
Registered Office : |
27-Section 7, New |
|
Tel. No.: |
91-291-2432227 |
|
Mobile No.: |
91-9829026430 (Mr. Surendra Kumar
Bishnoi) |
|
Fax No.: |
91-291-2433774 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
4800 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Factory : |
E-5, Phase II, RIICO Industrial Area, Boranada, |
|
Tel. No.: |
91-291-2432227 / 91-2931-281149 |
|
Fax No.: |
91-291-2433774 |
|
Area : |
4000 Sq. mtr. |
|
Location : |
Leased |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Birbal Bishnoi |
|
Designation : |
Director |
|
Address : |
27-Sector 7, New |
|
Date of Birth/Age : |
25.01.1942 |
|
Date of Appointment : |
18.09.1990 |
|
DIN No.: |
00982417 |
|
|
|
|
Name : |
Mr. Ram Kishore Bishnoi |
|
Designation : |
Director |
|
Address : |
27-Sector 7, New |
|
Date of Birth/Age : |
01.05.1966 |
|
Date of Appointment : |
18.09.1990 |
|
DIN No.: |
01713914 |
|
|
|
|
Name : |
Mr. Surendra Kumar Bishnoi |
|
Designation : |
Director |
|
Address : |
27-Sector 7, New |
|
Date of Birth/Age : |
19.01.1977 |
|
Date of Appointment : |
03.04.2001 |
|
DIN No.: |
00982449 |
SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Birbal Bishnoi |
|
46800 |
|
Ram Kishore Bishnoi |
|
44700 |
|
Surendra Kumar Bishnoi |
|
24300 |
|
Ankit Bishnoi |
|
1500 |
|
Champa Devi Bishnoi |
|
28500 |
|
Sunita Bishnoi |
|
2000 |
|
Rameshwri Bishnoi |
|
2000 |
|
Ram Niwas Bishnoi |
|
8400 |
|
Shanker Lal Bishnoi |
|
8400 |
|
Ram Chandra Bishnoi |
|
8400 |
|
Sukhdeo |
|
10000 |
|
Bhagirath |
|
4500 |
|
Jogaram |
|
11000 |
|
Chanaram |
|
4500 |
|
Baksharam |
|
4500 |
|
Hazarimal |
|
4500 |
|
Nenuram |
|
4500 |
|
Chanaram |
|
4500 |
|
Bakshram |
|
4500 |
|
Budhram |
|
4500 |
|
Sukharam |
|
4500 |
|
Poonam Chand |
|
4500 |
|
Ramalishan |
|
4500 |
|
Pemaram |
|
4500 |
|
Total |
|
250000 |
As on 30.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
70.00 |
|
Other top fifty shareholders |
30.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Casting, Stainless Steal Components etc. |
||||||||
|
|
|
||||||||
|
Products : |
o
Hammers o
Jaw Plates
o
Liners o
Cement Liners o
Jaw Casting
|
||||||||
|
|
|
||||||||
|
Exports : |
|
||||||||
|
Products : |
Casting |
||||||||
|
Countries : |
|
||||||||
|
Terms : |
|
||||||||
|
Selling : |
Cash / Credit |
||||||||
|
|
|
||||||||
|
Purchasing : |
Cash / Credit |
PRODUCTION STATUS
Licensed Capacity:
Nil
Installed
Capacity: Special Alloy Steel and CI Casting – 1200 MT P.A.
|
Particulars |
Unit |
Purchases/use/mfg.
|
|
FINISHED GOODS |
|
|
|
CI Casting |
MT |
198.6800 |
|
Special Alloy |
MT |
573.6610 |
|
S.S. Casting |
MT |
39.3270 |
GENERAL INFORMATION
|
Suppliers : |
|
||||||||||||
|
|
|
||||||||||||
|
Customers : |
Wholesalers and Retailers
|
||||||||||||
|
|
|
||||||||||||
|
No. of Employees : |
50 (Approximately) |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
|
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
---- |
|
|
|
|
Auditors : |
|
|
Name : |
Mertia and Company Chartered Accountants |
|
Address : |
Vatsalya, 244, Kamla Nehru Nagar, Opposite Prakratik Chikitsa Kendra,
Chopasni Road Jodhpur-342003, Rajasthan, India |
|
PAN No.: |
AAVPM3318C |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500
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 |
2.500 |
2.500 |
2.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
1.880 |
0.935 |
0.935 |
|
|
4] (Accumulated Losses) |
0.000 |
(0.458) |
(1.843) |
|
|
NETWORTH |
4.380 |
2.977 |
1.592 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
7.974 |
7.539 |
0.182 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
2.834 |
|
|
TOTAL BORROWING |
7.974 |
7.539 |
3.016 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.076 |
0.061 |
|
|
|
|
|
|
|
|
TOTAL |
12.354 |
10.592 |
4.669 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
7.419 |
7.657 |
8.201 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.006 |
0.006 |
0.006 |
|
|
DEFERREX TAX ASSETS |
0.168 |
0.076 |
0.062 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
7.740
|
2.812 |
4.664 |
|
|
Sundry Debtors |
6.870
|
5.424 |
0.601 |
|
|
Cash & Bank Balances |
0.136
|
0.156 |
0.683 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
2.006
|
1.227 |
1.220 |
|
Total
Current Assets |
16.752
|
9.619 |
7.168 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
10.388
|
5.474 |
7.928 |
|
|
Other Current Liabilities |
1.133
|
1.018 |
2.682 |
|
|
Provisions |
0.470
|
0.274 |
0.158 |
|
Total
Current Liabilities |
11.991
|
6.766 |
10.768 |
|
|
Net Current Assets |
4.761
|
2.853 |
(3.600) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
12.354 |
10.592 |
4.669 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
TURNOVER |
51.317 |
47.135 |
46.417 |
|
|
|
|
|
|
|
|
EXPENSES |
49.611 |
44.744 |
45.540 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
1.706 |
1.658 |
1.368 |
|
|
|
|
|
|
|
|
TAX |
0.760 |
0.274 |
0.158 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.946 |
1.385 |
1.210 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.78 |
6.64 |
4.48 |
Expected Sales (2011.12): Rs.60.000 Millions
The above information has been parted by Mr. Surendra
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.06
|
9.60 |
8.90 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.39
|
0.57 |
0.60 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.56
|
4.81 |
6.40 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.40
|
1.42 |
0.67 |
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 |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
-- |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last two years |
Yes |
|
12) Profitability for last three years |
No |
|
13) Reasons for variation <> 20% |
No |
|
14) Estimation for coming financial year |
Yes |
|
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) |
Yes |
|
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 |
No |
|
28) Incorporation details, if applicable |
-- |
|
29) Last accounts filed at ROC |
-- |
|
30) Major Shareholders, if available |
-- |
OPERATION:
The turnover of the company stood at Rs.51.317 Millions
during the financial year as against Rs.47.135 Millions achieved last year. The
company earned a net profit of Rs.1.404 Millions as against a net profit of
Rs.1.385 in the immediately preceding previous year. There was increase in
turnover as well as profits due to dedicated efforts put on by the management.
The current year trend appears satisfactory and the directors are hopeful of
achieving improved financial results during the year.
FROM 8
|
Corporate
identity number of the company |
10171213 |
|
Name of the
company |
GANESH LOCO
COMPONENTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
27-Secton 7, New |
|
This form is for |
Modification
of Charge |
|
Charge
identification (ID) number of the charge to be modified |
10171213 |
|
Type of charge |
|
|
Particular of
charge holder |
Axis Bank Limited, MCMC Email : Deepak.khanna@axisbank.com |
|
Nature of instrument
creating charge |
Supplemental Deep
of Hypothecation Dated. 22.12.2011 Memorandum of
Enter Dated.22.12.2011 Term Loan
Agreement Dated. 22.12.2011 Board Resolution
Dated. 22.12.2011 To Secure term
Loan Under Business Mpower Scheme of Rs.4.300 Millions |
|
Date of
instrument Creating the charge |
22.12.2011 |
|
Amount secured by
the charge |
Rs.12.300
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
(A). Rate of
Interest Base Rate Plus 4%
i.e. 14% at Present on TL under Business Empower Scheme Base Rate Plus
4.50% i.e. 14.50% at Present on OD under Business Empower Scheme (B) Terms of
Repayment Term Loan-
Repayment shall be by way EMI of Rs.0.100 Million for a Period of 30 Months.
The Repayment Shall Start form 31st January 2012 |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
|
|
Particulars of
the present modification |
Fresh term Loan
under Business Mpower Scheme of Rs.4.300 Millions has been Sanctioned Total
Credit Facility Now Stands for
Rs.12.300 Millions |
FIXED ASSETS
v Land F-5 (A), Boranada
v Land E-5, Boranada
v
v
v Plant and Machinery
v Generator Set
v Electric Installations
v Patterns, Moulds and Dies
v Lab. And testing Equipment
v Office Equipment
v Fire Extinguisher Gas cylinder
v Motor Cycle
v Car Safari
v Furniture and Fixture
v Computer
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.49.68 |
|
|
1 |
Rs.78.17 |
|
Euro |
1 |
Rs.65.52 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
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 |
YES |
|
--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.