MIRA
INFORM REPORT
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Report Date : |
10.01.2012 |
IDENTIFICATION DETAILS
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Name : |
ROOTS COOLING SYSTEMS PRIVATE LIMITED |
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Registered
Office : |
B-20, IInd Floor, Kailash Colony, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
06.12.1994 |
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Com. Reg. No.: |
55-063230 |
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Capital
Investment / Paid-up Capital : |
Rs.10.360
millions |
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CIN No.: [Company Identification
No.] |
U74899DL1994PTC063230 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELR10198G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Rigid-Media type Air Washers and Natural Ventilation Systems. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (49) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 763000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual trade
terms and conditions. |
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) |
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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 |
LOCATIONS
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Registered Office : |
B-20, IInd Floor, Kailash Colony, |
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Tel. No.: |
91-11-26285043, 26386351, 26386762/ 63 |
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Fax No.: |
91-11-26225747 |
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E-Mail : |
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Website : |
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Office and Factory 1 : |
B-53, Hoisery Complex, Noida, Phase-II, Noida – 201 305, |
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91-120-4036100 |
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91-120-4319089 |
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Factory 2 : |
D-17, Site - C, DSIDC Industrial Area, Surajpur, |
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Regional Office : |
Located at: Gurgaon: ggn@rootdek.com Pune: rootspune@vsnl.net Kolkata: kol@rootsdek.com |
DIRECTORS
As on 30.09.2011
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Name : |
Mr. Rajeev Kumar Saxena |
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Designation : |
Director |
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Address : |
B-20, 2nd Floor, Kailash Colony, |
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Date of Birth/Age : |
30.05.1961 |
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Date of Appointment : |
06.12.1994 |
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DIN No.: |
01179456 |
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Other Directorship :
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Name : |
Mr. Anoop Kumar Saxena |
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Designation : |
Director |
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Address : |
B-20, 2nd Floor, Kailash Colony, |
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Date of Birth/Age : |
29.04.1955 |
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Date of Appointment : |
06.12.1994 |
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DIN No.: |
01174792 |
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Other Directorship :
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Name : |
Mr. Basanti Lal Saxena |
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Designation : |
Director |
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Address : |
B-20, 2nd Floor, Kailash Colony, |
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Date of Birth/Age : |
22.01.1925 |
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Date of Appointment : |
06.12.1994 |
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DIN No.: |
01519463 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
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Names of Shareholders |
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No. of Shares |
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B.L. Saxena |
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92807 |
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Anoop Saxena |
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136500 |
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Rajeev Kumar Saxena |
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135500 |
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Samita Saxena |
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61680 |
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Anupriya Saxena |
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6500 |
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Monica Saxena |
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62900 |
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Nidheesh Saxena |
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83800 |
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Smiriti Realtors (Private) Limited, |
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135000 |
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Dynasore Leasing and Holding (Private)
Limited, |
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55000 |
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Vemuri Finvest (Private) Limited, |
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25000 |
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Gaire Engineering (Private) Limited, |
|
30000 |
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Raf Steel (Private) Limited, |
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30000 |
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Sai Ganesh Export (Private) Limited, |
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10000 |
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Plus Industries Limited, |
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10000 |
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Sahri-Khari Investment (Private) Limited, |
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10000 |
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Pratha Finvest (Private) Limited, |
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10000 |
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Oversky Computers (Private) Limited, |
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10000 |
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Omnipresent Credit (Private) Limited, |
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10000 |
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Gauri Shankar Paints and Chemicals (Private)
Limited, |
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10000 |
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Amarnath Buildcon (Private) Limited, |
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10000 |
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Sadashiv Stock and Share (Private) Limited, |
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10000 |
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Aparna Saxena |
|
560 |
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Anoop Saxena (HUF) |
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600 |
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B.L. Saxena (HUF) |
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600 |
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Rajeev Kumar Saxena (HUF) |
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600 |
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RAS Overseas (Private) Limited, |
|
61200 |
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Accent Megasales (Private) Limited, |
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27800 |
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Total |
|
1036047 |
As on 30.09.2011
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Equity Share Breakup |
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Percentage of Holding |
|
Category |
|
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Bodies
corporate |
|
43.82 |
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Directors
or relatives of directors |
|
56.18 |
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Total |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Rigid-Media type Air Washers and Natural Ventilation
Systems. |
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Products : |
v
Adjustable Louvre v
Volume Control Dampers v
Fresh Air Louvre v
Cellulose Pad v
Fan v
Fresh Air Filters v
Labyrinth - Natural Acoustically Treated
Ventilator v
Shadovoltaic - Solar Shading System with
Integrated Photovoltaic Cells v
Shadoglass-Solar Shading System v
WCO-Natural Weathered Ventilator v
MF-Natural Weathered Ventilator v Firelight-Natural
Glazed Ventilator |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
v
Bank of v
ICICI Bank Limited v
Standard Chartered Grindlays Bank v
Citi Bank v
HDFC Bank Limited v
Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
T.R. Sood and Company Chartered Accountants |
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Address : |
C-29, Pamposh Enclave, Greater Kailash - 1, |
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Income-tax
PAN of auditor or auditor's firm : |
ADLPR4475P |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1036047 |
Equity Shares |
Rs.10/- each |
Rs.10.360
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 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
10.360 |
10.360 |
9.437 |
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2] Share Application Money |
0.300 |
0.000 |
0.000 |
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3] Reserves & Surplus |
179.965 |
177.686 |
130.590 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
190.625 |
188.046 |
140.027 |
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LOAN FUNDS |
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1] Secured Loans |
95.705 |
61.222 |
53.627 |
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2] Unsecured Loans |
6.202 |
6.378 |
13.886 |
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TOTAL BORROWING |
101.907 |
67.600 |
67.513 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
292.532 |
255.646 |
207.540 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
103.641 |
107.178 |
107.891 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
31.932 |
15.693 |
10.918 |
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DEFERRED TAX ASSETS |
0.425 |
0.267 |
0.253 |
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
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Inventories |
141.839
|
93.658 |
60.342 |
|
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Sundry Debtors |
117.516
|
125.762 |
108.435 |
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Cash & Bank Balances |
1.432
|
1.518 |
1.319 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
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Loans & Advances |
24.700
|
21.263 |
18.393 |
|
Total
Current Assets |
285.487
|
242.201 |
188.489 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
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Sundry Creditors |
98.586
|
79.749 |
74.883 |
|
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Other Current Liabilities |
29.167
|
28.744 |
24.128 |
|
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Provisions |
1.200
|
1.200 |
1.000 |
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Total
Current Liabilities |
128.953
|
109.693 |
100.011 |
|
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Net Current Assets |
156.534
|
132.508 |
88.478 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
292.532 |
255.646 |
207.540 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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|
|
|
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Income from Operations |
281.099 |
237.204 |
268.075 |
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|
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Other Income |
|
31.279 |
27.487 |
|
|
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TOTAL |
281.099 |
268.483 |
295.562 |
|
|
|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
|
272.381 |
(20.848) |
(11.711) |
|
|
|
Material & Manufacturing Expenses |
|
226.903 |
240.862 |
|
|
|
Personnel Expenses |
|
23.498 |
20.945 |
|
|
|
Selling & Administrative Expenses |
|
30.677 |
37.300 |
|
|
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TOTAL |
272.381 |
260.230 |
287.396 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
8.718 |
8.253 |
8.166 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
3.335 |
3.064 |
3.424 |
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PROFIT BEFORE
TAX |
5.383 |
5.189 |
4.742 |
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|
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Less |
TAX |
2.241 |
1.200 |
1.000 |
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PROFIT AFTER TAX
|
3.142 |
3.989 |
3.742 |
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|
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|
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|
Adjustment for prior periods |
NA |
(1.194) |
(1.232) |
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|
Deferred Tax Assets |
NA |
0.013 |
0.137 |
|
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|
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BALANCE CARRIED
TO THE B/S |
NA |
2.808 |
2.647 |
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IMPORTS |
|
|
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Raw Materials |
NA |
6.859 |
10.484 |
|
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TOTAL IMPORTS |
NA |
6.859 |
10.484 |
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|
Earnings Per
Share (Rs.) |
3.03 |
2.70 |
3.97 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.12
|
1.49 |
1.27 |
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
2.19 |
1.77 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.38
|
1.49 |
1.60 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.03
|
0.03 |
0.03 |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.21
|
0.94 |
1.20 |
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|
Current Ratio (Current Asset/Current Liability) |
|
2.21
|
2.21 |
1.88 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The registered office of the company has been shifted from C-66/1,
Okhala Industrial Area,
OPERATION AND FINANCIAL HIGHLIGHTS
During the year the Company has a net Profit of Rs.3.142 millions after
taxation.
FORM 8
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
10067120 |
|
Corporate
identity number of the company |
ROOTS COOLING SYSTEMS PRIVATE LIMITED |
|
Name of the
company |
U74899DL1994PTC063230 |
|
Address of the
registered office or of the principal place of business in |
B- 20, 2nd Floor, Kailash Colony, |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Bank of Baroda- SME Branch, Sector-18, Noida - 201 301, |
|
Nature of
description of the instrument creating or modifying the charge |
Supplemental
Memorandum of entry dated 26.09.2009 Letter of
Undertaking dated 26.09.2009 |
|
Date of
instrument Creating the charge |
26.09.2009 |
|
Amount secured by
the charge |
Rs.120.800
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Extent and
Operation of the charge: 100% Others: To extend
collateral security of equitable mortgage of Immovable Properties of the company
situated at B-53, Phase- 2, Noida (Uttar Pradesh) to enhanced/ revised credit
facilities aggregating to Rs.120.800 Millions granted to/ enjoyed by the
company |
|
Particulars of
the present modification |
The collateral
Security of equitable mortgage of immovable properties of the company
situated at B- 53, Phase-2, Noida (Uttar Pradesh) stands extended to secure
all amounts payable under enhanced/ revised credit facilities aggregating to
Rs.120.800 Millions granted to/ enjoyed by the company and as detailed
together with all interest, costs, charges, expenses etc. Other terms and
conditions remained the same. |
FIXED ASSETS
v Land
v Building
v Plant and Machinery
v Furniture and Fixtures
v Vehicles
v Office Equipment
v Cycle
v Computer
v Refrigerator
v
v Generator
WEBSITE DETAILS:
PROFILE:
Subject is the manufacturer of rigid-media type air washers and natural ventilation systems in the country. It has impacted a large presence in the market and established a strong leadership position by successfully solving the problems of cooling and ventilation of most demanding industries such as Automobiles, Hotels, Cements, Textiles, Engineering - goods, and Petrochemicals etc. The application versatility has been for generator rooms, gas-turbine intake, industrial cooling of hot spots, paint booths, textile mills humidification, warehouses and stores, commercial agriculture, produce storage rooms etc.
They have a robust independent Power Plant Division for power producers segment
as well. This cell is dedicated towards the HVAC requirements of power plants –
both Thermal and Hydro segment. They shall also participate, as and when,
nuclear power plants begin their presence on Indian Market Space.
Their central cooling and ventilation systems provide the most optimal and
comprehensive solutions to all climate control requirements of their customers.
They realise that
v Critical areas require indoor air quality, air flow patterns and contaminant free environment.
v Within some areas, temperature and humidity requirements can vary.
v Some areas require smooth and hassle free functioning of process equipments to ensure low break-downs and higher productivity.
v Non-stop production areas require round-the-clock operation of all utilities.
They consider all the above unique requirements and offer specially designed equipment which are not only reliable but also extremely energy efficient.
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.52.73 |
|
|
1 |
Rs.81.34 |
|
Euro |
1 |
Rs.67.00 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
49 |
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.