MIRA
INFORM REPORT
|
Report Date : |
19.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
GOLDEN ENGINEERING COMPANY PRIVATE LIMITED |
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Registered
Office : |
39/D, Alka Society, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
04.01.1991 |
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Com. Reg. No.: |
04-14866 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.354 Million |
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CIN No.: [Company Identification
No.] |
U29259GJ1991PTC014866 |
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IEC No.: |
3497001210 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BRDG00583C |
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PAN No.: [Permanent Account No.] |
AABCG4077B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Engineering Components and Powerless
Turbine Ventilators. |
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No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (43) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 11000 |
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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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 |
INFORMATION PARTED BY
|
Name : |
Mr. Kalpesh |
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Designation : |
Director |
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Contact No.: |
91-9825134994 |
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Date : |
16.01.2012 |
LOCATIONS
|
Registered Office/Factory : |
39/D, Alka Society, |
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Tel. No.: |
91-265-2645446 |
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Mobile No.: |
91-9825134994 (Mr. Kalpesh Patel) |
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Fax No.: |
91-265-2655065 |
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E-Mail : |
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Website : |
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Area : |
1800 Sq. ft. |
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Location: |
Owned |
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Factory : |
686, GIDC Makarpura Industrial Estate, Vadodara – 390 010, |
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Tel. No.: |
91-265- 2655065 /2645446 |
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Fax No.: |
91-265- 2655065 /2645446 |
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Area: |
18000 sq. ft. |
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Location:
|
Owned |
Note:
39/D, Alka Society, P C Road, Opposite Water Tank, Akota, Baroda – 390 010,
Gujarat, India Address is closed from last several years but changes are not
done in government records all the activity made in 686, GIDC Makarpura
Industrial Estate, Vadodara – 390 010, Gujarat, India address
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Kalpesh Rameshbhai Patel |
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Designation : |
Director (Marketing) |
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Address : |
39, Alka Society, |
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Qualification : |
Electrical and Tele Engineering |
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Date of Appointment : |
29.04.2002 |
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DIN No.: |
00721108 |
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Name : |
Mr. Rameshbhai V Kapuria |
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Designation : |
Director |
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Address : |
39, Alka Society, |
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Qualification : |
Mechanical Engineering |
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Date of Appointment : |
01.01.1991 |
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DIN No.: |
00742543 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Rmaeshbhai Kapuria |
12710 |
|
Bachubhai Patel |
3500 |
|
Narayanbhai Patel |
1500 |
|
J R Patel |
9010 |
|
Naranbhai R Kotadia |
1000 |
|
Kalpesh Patel |
7700 |
|
Total |
35420 |
AS ON 30.09.2011
|
Equity Shares
Break Up |
Percentage |
|
Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Engineering Components and Powerless
Turbine Ventilators. |
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Products : |
· Turbine
Ventilator · Ventilator · Ventilation
System · Turbo Ventilator · Turbovent · Golden Turbovent · Powerless
Ventilator · No Power
Ventilator · Attic Ventilator · Roof Ventilator · Roof Extractor · Wind Ventilator · Turbine Air
Ventilator · Chimney Cowl · Precision Tube Components · Brass
Components. ·
Machinery Parts |
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Exports : |
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Products : |
Powerless Turbine Ventilators. |
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Countries : |
·
Thailand ·
UK ·
Germany |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
·
China |
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Terms : |
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Selling : |
L/C, Cash |
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Purchasing : |
L/C, Cash |
GENERAL INFORMATION
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Customers : |
Wholesalers and End Users |
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No. of Employees : |
25 (Approximately) |
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Bankers : |
·
ICICI Bank, “Landmark” Race Course ·
Central Bank of ·
Citi Bankl ·
HDFC Bank |
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Facilities : |
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
Haribhakti and Company Chartered Accountant |
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Address : |
18, Haribhakti Colony, Varodara-390007, Gujarat, India |
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Tel. No.: |
91-265-2340091 |
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Fax No.: |
91-265-2314495 |
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E-Mail : |
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Pan No.: |
AAAFH6258F |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
50000 |
Equity Shares |
Rs.10/- each |
Rs. 0.500 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
35420 |
Equity Shares |
Rs.10/- each |
Rs. 0.354
Million |
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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 |
0.354 |
0.354 |
0.354 |
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2] Share Application Money |
0.000 |
0.116 |
0.116 |
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3] Reserves & Surplus |
2.492 |
1.866 |
1.425 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2.846 |
2.336 |
1.895 |
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LOAN FUNDS |
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1] Secured Loans |
1.144 |
1.847 |
2.467 |
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2] Unsecured Loans |
2.136 |
1.049 |
0.049 |
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TOTAL BORROWING |
3.280 |
2.896 |
2.516 |
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DEFERRED TAX LIABILITIES |
0.060 |
0.236 |
0.327 |
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TOTAL |
6.186 |
5.468 |
4.738 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.930 |
3.429 |
4.054 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
3.281
|
1.360 |
0.907
|
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Sundry Debtors |
1.382
|
1.189 |
0.706
|
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Cash & Bank Balances |
0.456
|
0.620 |
0.585
|
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Other Current Assets |
0.000
|
0.000 |
0.000
|
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Loans & Advances |
1.392
|
1.121 |
1.427
|
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Total
Current Assets |
6.511
|
4.290 |
3.625 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
2.340
|
1.675 |
2.010 |
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Other Current Liabilities |
0.221
|
0.202 |
0.238 |
|
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Provisions |
0.694
|
0.374 |
0.693
|
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Total
Current Liabilities |
3.255
|
2.251 |
2.941 |
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Net Current Assets |
3.256
|
2.039 |
0.684
|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
6.186 |
5.468 |
4.738 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
|
|
|
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|
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Income |
14.348 |
14.697 |
14.079 |
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Other Income |
0.072 |
0.219 |
0.502 |
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Profit of Sales on Assets |
0.000 |
0.000 |
0.033 |
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TOTAL (A) |
14.420 |
14.916 |
14.614 |
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Less |
EXPENSES |
|
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|
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Cost of Materials |
7.905 |
9.699 |
9.572 |
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Administrative and Other Expenses |
4.773 |
3.477 |
2.923 |
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TOTAL (B) |
12.678 |
13.176 |
12.495 |
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|
|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
1.742 |
1.740 |
2.119 |
|
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|
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Less |
FINANCIAL
EXPENSES (D) |
0.342 |
0.315 |
0.228 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.400 |
1.425 |
1.891 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.653 |
0.796 |
0.635 |
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PROFIT BEFORE
TAX (E-F) (G) |
0.747 |
0.629 |
1.256 |
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Less |
TAX (H) |
0.121 |
0.188 |
0.379 |
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PROFIT AFTER TAX
(G-H) (I) |
0.626 |
0.441 |
0.877 |
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1.866 |
1.425 |
0.548 |
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BALANCE CARRIED
TO THE B/S |
2.492 |
1.866 |
1.425 |
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|
Earnings Per
Share (Rs.) |
17.68 |
12.50 |
24.75 |
|
Expected Sales (2011-2012) : Rs.15.000 Millions
The above information has been parted by Mr. Kalpesh.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.34
|
2.95 |
6.00 |
|
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|
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|
Net Profit Margin (PBT/Sales) |
(%) |
5.21
|
4.28 |
8.92 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
7.91
|
8.15 |
16.36 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.27 |
0.66 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.32
|
2.30 |
3.05 |
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|
Current Ratio (Current Asset/Current Liability) |
|
2.00
|
1.91 |
1.23 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1. Year of Establishment |
Yes |
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2. Locality of the firm |
Yes |
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3. Constructions of the firm |
Yes |
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4. Premises details |
Yes |
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5. Type of Business |
Yes |
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6. Line of Business |
Yes |
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7. Promoter’s background |
----- |
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8. No. of Employees |
Yes |
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9. Name of person contacted |
Yes |
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10. Designation of contact person |
Yes |
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11. Turnover of firm for last three years |
Yes |
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12. Profitability for last three years |
No |
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13. Reasons for variation <> 20% |
No |
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14. Estimation for coming financial year |
Yes |
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15. Capital in the business |
Yes |
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16. Details of sister concerns |
No |
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17. Major suppliers |
No |
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18. Major customers |
No |
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19. Payments terms |
Yes |
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20. Export / Import details |
Yes |
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21. Market information |
------ |
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22. Litigations that the firm / promoter involved |
------ |
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23. Banking Details |
Yes |
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24. Banking facility details |
No |
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25. Conduct of the banking account |
------ |
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26. Buyer visit details |
------ |
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27. Financials, if provided |
No |
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28. Incorporation details, if applicable |
------ |
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29. Last accounts filed at ROC |
------ |
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30. Major Shareholders, if available |
------ |
FIXED ASSETS
·
Air Conditioner
·
Computer
·
Office Equipment
·
Office Furniture and Fitting
·
Plant and Machinery
·
Tools and Office Equipment
·
Vehicles
·
Refrigerator
·
Mobile Phone
WEB SITE DETAILS
PROFILE
They take this pleasure to introduce their selves as one of
the leading manufacturer and exporter of powerless turbine ventilators in India
with a new concept of double energy savings. Their ventilators are indigenously
made in India and designed without using any balls and bearings for worst
weather conditions. They are marketing their product under brand name golden
turbovent with available neck size from 12 to 28 inches. Also designed rotating
cowl for chimneys with brand name golden cowl available in stainless steel and
aluminium.
Since 1991 the principles of subject lie in realizing the
potential market and satiating the customer needs in the most profitable,
efficient and thical manner. Their strength and success can be attributed to
their efficient management, modern operation systems, uncompromising quality
control and dynamic workforce, but above all it is their desire and vision that
has accelerated their growth.
They are committed to delivering a high quality product at
an optimum price, which meets customers expectations in all respects.
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. 50.66 |
|
|
1 |
Rs. 77.72 |
|
Euro |
1 |
Rs. 64.63 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
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 |
|
43 |
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.