MIRA
INFORM REPORT
|
Report Date : |
17.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
HI-TECHNOCRATS PRIVATE LIMITED |
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Registered
Office : |
B-2/2134, Vasant Kunj, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
18.07.1995 |
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Com. Reg. No.: |
55-70880 |
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Capital
Investment / Paid-up Capital : |
Rs.2.498 millions |
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|
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CIN No.: [Company Identification
No.] |
U74899DL1995PTC070880 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELH04610E / DELH04041C |
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PAN No.: [Permanent Account No.] |
AAACH2407B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Mechanical and Engineering Contractor
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|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 62000 |
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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) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
|
Restricted |
C2 |
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Off-credit |
D |
LOCATIONS
|
Registered Office : |
B-2/2134, Vasant Kunj, |
|
Tel. No.: |
91-11-26892680 / 26125132 |
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Fax No.: |
91-11-41761945 |
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E-Mail : |
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Website : |
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Branch Office 1 : |
JN- 2, 14-A7, Sector-10, Vashi,
Navi Mumbai - 400 703, |
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Branch Office 2: |
A-12, |
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Workshop : |
G-1, 28-F, RIICO Industrial Area,
Sotanala, Behror, District Alwar, |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Navin Kapoor |
|
Designation : |
Director |
|
Address : |
B-2/2134, Vasant Kunj, |
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Date of Birth/Age : |
10.11.1958 |
|
Date of Appointment : |
18.07.1995 |
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DIN No.: |
00360596 |
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Name : |
Mrs. Neena Kapoor |
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Designation : |
Director |
|
Address : |
B-2/2134, Vasant Kunj, |
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Date of Birth/Age : |
09.02.1965 |
|
Date of Appointment : |
01.05.2006 |
|
DIN No.: |
00360714 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Navin Kapoor |
|
18270 |
|
Neena Kapoor |
|
1260 |
|
N. Kapoor and Sons (HUF) |
|
5450 |
|
Total |
|
24980 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Mechanical and Engineering Contractor
|
GENERAL INFORMATION
|
Customers : |
·
GAIL ( ·
Bharat Petroleum ·
Indian Oil ·
Bharat Oman Refineries Limited ·
Nuclear Power Corporation of India Limited ·
Utility Powertech ·
JCT Limited ·
GHCL Limited ·
TRF ·
SRF ·
Jindal ·
BHEL ·
NTPC ·
Essar ·
Engineers India Limited ·
Jindal Steel and Power ·
Tata Chemicals Limited ·
Polyplex Corporation Limited ·
The Paper Products Limited ·
Nirma Limited
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No. of Employees : |
Not Available |
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Bankers : |
·
Union Bank of C-1, ·
HDFC Bank ·
ICICI Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Neeraj Vinod and Associates Chartered Accountants |
|
Address : |
34, IInd Floor, Navyug Market, |
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Tel. No.: |
91-120-2792216 |
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Mobile No.: |
91-9891123370 |
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Fax No.: |
|
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PAN No.: |
AAEFN8046M |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
40000 |
Equity Shares |
Rs.100/- each |
Rs.4.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
24980 |
Equity Shares |
Rs.100/- each |
Rs.2.498
millions |
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
25000 |
Equity Shares |
Rs.100/- each |
Rs.2.500 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
24980 |
Equity Shares |
Rs.100/- each |
Rs.2.498
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 |
2.498 |
2.498 |
2.498 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
12.975 |
10.499 |
7.518 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
15.473 |
12.997 |
10.016 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
10.873 |
11.804 |
11.936 |
|
|
2] Unsecured Loans |
1.200 |
2.450 |
0.200 |
|
|
TOTAL BORROWING |
12.073 |
14.254 |
12.136 |
|
|
DEFERRED TAX LIABILITIES |
0.042 |
0.075 |
0.039 |
|
|
|
|
|
|
|
|
TOTAL |
27.588 |
27.326 |
22.191 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
8.678 |
9.752 |
4.904 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
3.880 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
15.575
|
6.726 |
6.833 |
|
|
Sundry Debtors |
12.085
|
15.136 |
11.660 |
|
|
Cash & Bank Balances |
0.830
|
0.585 |
1.838 |
|
|
Other Current Assets |
6.399
|
7.501 |
0.000 |
|
|
Loans & Advances |
3.726
|
3.544 |
3.750 |
|
Total
Current Assets |
38.615
|
33.492 |
24.081 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
10.475
|
6.126 |
3.692 |
|
|
Other Current Liabilities |
7.701
|
8.300 |
6.098 |
|
|
Provisions |
1.529
|
1.492 |
0.884 |
|
Total
Current Liabilities |
19.705
|
15.918 |
10.674 |
|
|
Net Current Assets |
18.910
|
17.574 |
13.407 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
27.588 |
27.326 |
22.191 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
GROSS RECEIPTS
AND OTHER INCOME |
94.198 |
113.774 |
59.260 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
89.033 |
|
56.208 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
89.033 |
107.753 |
56.208 |
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX, DEPRECIATION AND AMORTISATION |
5.165 |
6.021 |
3.052 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
1.431 |
1.532 |
0.783 |
|
|
|
|
|
|
|
|
|
|
PROFIT/(LOSS)
BEFORE TAX |
3.734 |
4.489 |
2.269 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.258 |
1.508 |
0.761 |
|
|
|
|
|
|
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|
|
|
PROFIT/(LOSS)
AFTER TAX |
2.476 |
2.981 |
1.508 |
|
|
|
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|
|
|
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
9.999 |
7.018 |
5.510 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
12.475 |
9.999 |
7.018 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
99.12 |
119.34 |
60.37 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.63
|
2.62 |
2.54 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.90
|
10.38 |
7.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.35 |
0.23 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.05
|
2.32 |
2.28 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.96
|
2.10 |
2.26 |
LOCAL AGENCY FURTHER INFORMATION
NOTE
The Registered Office of the company has been shifted from V-11,
CONTINGENT
LIABILITIES
|
Particulars |
As
on 31.03.2011 Rs.
in millions |
|
Bank Guarantee |
9.499 |
FORM 8
|
Corporate identity number of the company |
U74899DL1995PTC070880 |
|
Name of the company |
HI-TECHNOCRATS PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in |
B-2/2134, Vasant Kunj, |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10048539 |
|
Type of charge |
·
Book debts ·
Movable property (not being pledge) ·
Floating charge ·
Others o
Goods received under LC |
|
Particular of charge holder |
Union Bank of C-1, E-Mail : yusufsarai@unionbankofindia.com |
|
Nature of instrument creating charge |
Composite Hypothecation Deed ( SD-20 ) |
|
Date of instrument Creating the charge |
02.05.2011 |
|
Amount secured by the charge |
Rs.52.500 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest CC (Book-debts) :-Base Rate +3.75% p.a on monthly rest or such other
rate(s) specified by the bank from time to time. Terms of Repayment On demand Margin Book-debts -35% (Cover period 90 Days) LC -25% LG -20% Extent and Operation of the charge 100% First exclusive charge |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
·
First hypothecation charge on all the book-debts /
receivables / moneys receivables / securities /investments and other
securities acceptable to the bank both present and future ·
First charge on all the movable goods received
under LC, documents to the title of the goods, FDR kept as margin, counter
indemnity both present and future. |
|
Particulars of the present modification |
Credit facilities sanctioned to the company now enhanced to Rs.52.500
millions as under :- CC (Book-debts) Rs.15.000 millions LG Rs.37.500 millions W/w Inland LC (DA 30 days) Rs.(5.000) millions Total Rs.52.500 millions |
FIXED ASSETS
·
Furniture and Fixtures
·
Air Conditioner
·
Scooter
·
Car
·
Type Writer
·
UPS and Invetor
·
Land at Behraur
·
·
Electric Penal
·
Office/Site Equipment
·
Temp. Site Office
·
Site Office
·
Computer
·
Computer Software
·
Machinery
·
Steel and Shuttering
·
WEB DETAILS
PROFILE
Since 1990, subject’s mission to provide clients with quality
construction services has resulted in over 60% repeat client business. Subject
is a Mechanical Engineering Company, specialized in the field of Construction
of Refineries, Petrochemicals, Fertilizers, Steel and Metallurgical, Chemical,
Oil and Gas, Power and other core industries.
Delivering exceptional service and quality projects that add value to their client’s
business strategy is the cornerstone on which they have built their reputation.
They are a Project Engineering and Industrial Construction Company, based in
Subject activities
are varied and unlimited and mainly include the following:-
·
Pipelines in Carbon/Stainless/Alloy Steel
·
Rotary and Stationary Equipments Installation
·
Fire Fighting, Fire Alarm and Foam System
·
Structural Steel work for Bunkers/Towers/Pipe Racks
·
Heat Tracing with Hot and Cold Insulation
·
Sandblasting, Painting
·
Underground Protection
·
Ducting, Chimney
·
Electrical Works on LT side
·
Process and Utility Systems Installation
·
Horizontal and Vertical Storage Tanks in Carbon
Steel and Stainless Steel
MANAGEMENT TEAM
The company was formed in 1990 by a group of
Technocrats and since then subject had executed many projects for different
client and consultants.
Delivering exceptional service and quality projects that add value to their
client’s business strategy is the cornerstone on which they have built their
reputation.
The company has following Directors:
·
Mr. Navin Kapoor
·
Mr. Anil Kapoor
·
Mr. R.K.Malhotra
·
Mrs. Neena Kapoor
Mr. Navin H
Kapoor, a Chemical Engineer from Harcourt Butler Technological Institute,
Kanpur started his career, by choice, from construction projects and have been
associated with the following important projects, Some of the Projects are:
·
Piping, Insulation and allied jobs for a Platform
in Heera Oil Field in Bombay High.
·
Complete Piping package of
·
Silicon Steel project of Steel Authority of India,
Mr. Anil Kapoor, a Financial and commercial wizard, MBA from FMS, Delhi
University has a great role in making the projects successful by way of his
contribution towards cost control, taxation planning, Vendor development so
that the clients have the full advantage of cost and time saving on the
projects.
Mr. R. K. Malhotra, an Engineer with MBA, is a technocrats with
marketing and public relations being the key factors of his profession. He is
well conversant with latest engineering changes / requirements.
Mrs. Neena Kapoor, a graduate from
In addition to the directors, the company has a list of challenging
Professionals, engineers and associates for site management, quality control,
safety and environment.
Subject with an experienced team of professionals with good managerial
skills, adequate technical manpower, machineries, finance and will to give the
project well in time maintaining best of quality and professionalism.
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.51.65 |
|
|
1 |
Rs.79.10 |
|
Euro |
1 |
Rs.65.32 |
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 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--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 |
|
45 |
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.