MIRA
INFORM REPORT
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Report Date : |
05.07.2012 |
IDENTIFICATION DETAILS
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Name : |
GRAPAMAR FACADES SYSTEM PRIVATE LIMITED |
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Registered
Office : |
Level 9, Platina, C-59, G Block, Bandra Kurla Complex, Bandra (East),
Mumbai – 400051, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
10.11.2009 |
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Com. Reg. No.: |
11-197006 |
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Capital
Investment/ Paid-up Capital: |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U74990MH2009PTC197006 |
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PAN No.: [Permanent Account No.] |
AADCG5940K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Importer of Electric Scaffoldings. |
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No. of
Employees: |
Information declined by the management |
RATING & COMMENTS
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MIRA’s Rating : |
Ca (11) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a company which is establishing itself gradually. The
management of the company has not filed its financials with the government departments
after the year 2010. The company has incurred heavy losses during its first
operational year 2010. Business is active. Payments are reported to be unknown. Initially, the company can be considered for business dealings on a
safe and secured trade terms and conditions. Profit and loss account of the company is not available. |
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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India |
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 |
INFORMATION DECLINED BY
Management non – corporative
LOCATIONS
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Registered Office : |
Level 9, Platina, C-59, G Block, Bandra Kurla Complex, Bandra (East),
Mumbai – 400051, Maharashtra, India |
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Tel. No.: |
91-22-39530531/ 32168326 |
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Mobile No.: |
91-9833267923/ 9920234458/ 920234432 (Ms. Belinda .E. Velho) |
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Fax No.: |
91-22-38530600 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Warehouse : |
G-10, Maduram Industries Estate, Near Visawa Hotel, Sativali Road,
Vasai- Thane, Maharashtra, India |
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Location : |
Owned |
DIRECTORS
As on: 18.01.2011
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Name : |
Belinda Edalina Velho |
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Designation : |
Director |
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Address : |
Alif Apartment, Flat No 103, 1st Floor, 34/A, |
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Date of Birth/Age : |
27.04.1963 |
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Qualification : |
Graduate |
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Date of Appointment : |
10.11.2009 |
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DIN No.: |
02809504 |
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Name : |
Narciso Chaparro Navas |
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Designation : |
Director |
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Address : |
Crer Narcis Monturiol 162 BJ1, Vilassar De Mar, |
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Date of Birth/Age : |
12.06.1965 |
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Qualification : |
Graduate |
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Date of Appointment : |
10.11.2009 |
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DIN No.: |
02047567 |
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Other Directorships :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 18.01.2011
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Names of Shareholders |
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No. of Shares |
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Narciso Chaparro Navas |
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5000 |
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Juan Rubio |
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2500 |
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Juan Fernandez |
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2500 |
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Total |
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10000 |
Equity Share Break up (Percentage of Total Equity)
As on: 18.01.2011
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Category |
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Percentage |
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
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100.00 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Importer of Electric Scaffoldings. |
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Products : |
·
Dry Cladding / Rain Screen Ventilated Facades ·
Dry Cladding / Rain Ventilated Facades for Marble
·
Dry Cladding / Rain Ventilated Facades for
Granite ·
Dry Cladding / Rain Ventilated Facades for
Natural Stone ·
Dry Cladding / Rain Ventilated Facades for
Sandstone ·
Dry Cladding / Rain Ventilated Facades for
Porcelain Tiles ·
Dry Cladding / Rain Ventilated Facades for
Artificial Stones ·
Anchors for Stone Dry Cladding ·
Anchors for Granite Dry Cladding ·
Dry Claddings ·
Semi-wet Claddings ·
Stone Claddings ·
Granite Claddings ·
Claddings |
GENERAL INFORMATION
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No. of Employees : |
Information declined by the management |
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Bankers : |
HDFC Bank, Khar Branch, Mumbai Maharashtra, Ind |
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Facilities : |
(Rs.
In Millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Umesh Bhatt and Company Chartered Accountants |
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Address : |
201, Rehman House, Nadirsha Sukhia Street, Off Cawasji Patel Street,
Near Mahesh Lunch Home, Mumbai – 400 001, Maharashtra, India |
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Tel. No.: |
91-22-32460681/ 40024897 |
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Mobile No.: |
91-9820624897 |
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E-Mail : |
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PAN No.: |
AACPB9074F |
CAPITAL STRUCTURE
As on 18.01.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
million |
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FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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|
31.03.2010 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
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2] Share Application Money |
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0.244 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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(2.807) |
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NETWORTH |
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(2.463) |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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2.854 |
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TOTAL BORROWING |
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2.854 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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0.391 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.124 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
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Sundry Debtors |
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0.000 |
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Cash & Bank Balances |
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0.100 |
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Other Current Assets |
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0.303 |
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Loans & Advances |
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0.000 |
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Total
Current Assets |
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0.403 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditor |
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Other Current Liabilities |
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Provisions |
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0.117 |
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Total
Current Liabilities |
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0.136 |
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Net Current Assets |
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0.267 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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0.391 |
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KEY RATIOS
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PARTICULARS |
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|
31.03.2010 |
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Debt Equity Ratio (Total Liability/Networth) |
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(1.21) |
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Current Ratio (Current Asset/Current Liability) |
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2.96 |
LOCAL AGENCY FURTHER INFORMATION
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Available
in Report [Yes/No] |
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Year
of Establishment |
Yes |
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Locality
of the Firm |
Yes |
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Constitution
of the firm |
Yes |
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Premises
details |
No |
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Type
of Business |
Yes |
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Line
of Business |
Yes |
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Promoters
background |
Yes |
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No.
of Employees |
No |
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Name
of Person Contacted |
No |
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Designation
of contact person |
No |
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Turnover
of firm for last three years |
No |
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Profitability
for last three years |
No |
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Reasons
for variation <> 20% |
- |
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Estimation
for coming financial year |
No |
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Capital
the business |
Yes |
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Details
of sister concerns |
No |
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Major
Suppliers |
No |
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Major
Customers |
No |
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Payment
Terms |
No |
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Export
/ Import Details [If Applicable] |
No |
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Market
Information |
- |
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Litigations
that the firm / promoter involved in |
- |
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Banking
Details |
Yes |
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Banking
Facility Details |
Yes |
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Conduct
of the banking account |
- |
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Buyer
visit details |
- |
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Financials,
if provided |
Yes |
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Incorporation
details, if applicable |
Yes |
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Last
accounts filed at ROC |
No |
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Major
Shareholders, if applicable |
Yes |
BUSINESS
OPERAITONS:
First Annual Meeting since incorporation on 10th November
2010, Trading activity was carried out by the company, in the last quarter, and
lot of brochures/ samples were distributed for generation of business. There is
a loss of Rs.2.807 for the period ended 31st March, 2010. However
the Directors are positive that the recession in the Indian as well as the
Global Economy having ended there would be tremendous demand leading to
fruitful business opportunities in the industry.
ISSUE OF EQUITY SHARES:
The Foreign Shareholders Mr. Juan Rubio and
Juan Fernandez of ANCLAJES GRAPAMAR, S.L. who subscribed to 50% stake in the
company. With the active participation of the foreign collaborator they expect
the sales to jump substantially.
AS PER WEBSITE DETAILS:
PROFILE
To meet the requirements of Wall Cladding for
a wide range of natural stone, porcelain tiles and glass, they, Subject, have stepped
into the business of Cladding Systems for Ventilated Facades. They are known as
one of the leading manufacturers, exporters and suppliers of a wide range of
Cladding Systems for Ventilated Facades. There exclusive gamut comprises
products like Dry Cladding / Rain Screen Ventilated Facades, Dry Cladding /
Rain Ventilated Facades for Marble, Dry Cladding / Rain Ventilated Facades for
Sandstone, Dry Cladding / Rain Ventilated Facades for Porcelain Tiles, Dry
Cladding / Rain Ventilated Facades for Artificial Stones, Anchors for Stone Dry
Cladding, Anchors for Granite Dry Cladding, Dry Cladding, Semi-wet Cladding,
Stone Cladding, and others. These solutions are energy saving, efficient, user
friendly and require low maintenance.
The ventilated Façade is a construction system
that is used in many parts of North European countries, as it is highly energy
efficient. There company aim at meeting maximum requirements of the clients in
this field by offering highly standard Cladding Options. They take advantage of
consistent research & development combined with sophisticated and modern
facilities to come up with qualitative range. There manufacturing process and
services are internationally acclaimed and they have also received ISO 9001:
2008 and ISO 14001-2004 certifications for the same.
They are an offshoot of the company Grapamar
that was established in Spain in the year 1989. Over the years, it has grown up
to be one of the most trusted and reliable names in this industry. Today,
Grapamar boasts of having completed more than 1000 building projects in Europe
and South America. There are more projects that are in the pipeline. Through
there dedication and persistent performance, they are now aiming to make the
same impact in India as well as the untapped markets in other parts of the
world.
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.54.55 |
|
|
1 |
Rs.85.48 |
|
Euro |
1 |
Rs.68.70 |
INFORMATION DETAILS
|
Information
Gathered by : |
SBA |
|
|
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|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
1 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
11 |
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.