|
Report Date : |
19.07.2012 |
IDENTIFICATION DETAILS
|
Name : |
REAL ELEVATORS LIMITED |
|
|
|
|
Registered
Office : |
A-21-A, Mayapuri Industrial Area, Phase-II, New Delhi-110064 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
17.10.2005 |
|
|
|
|
Com. Reg. No.: |
55-141803 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 2.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL2005PLC141803 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELR12266C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCR1629J |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Lifts |
|
|
|
|
No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 52000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported to be 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 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Prashant |
|
Designation : |
Senior Marketing Manager |
|
Contact No.: |
91-9310590691 |
|
Date : |
14.07.2012 |
LOCATIONS
|
Registered Office : |
A-21-A, Mayapuri Industrial Area, Phase-II, New Delhi-110064, India |
|
Tel. No.: |
91-11-47117117 / 30523781 |
|
Mobile No.: |
91-9310590691 (Mr. Prashant) |
|
Fax No.: |
91-11-28113781 |
|
E-Mail : |
|
|
Location : |
Owned |
|
|
|
|
Branch Office : |
Located At ·
Mumbai ·
Bangalore ·
Nagpur |
DIRECTORS
AS ON 29.09.2011
|
Name : |
Mr. Shakeel Ahmed |
|
Designation : |
Director |
|
Address : |
331, Guru Apartment, Plot No.2, Sector-6, Dwarka, New Delhi-110075,
India |
|
Date of Birth/Age : |
03.02.1964 |
|
Date of Appointment : |
17.10.2005 |
|
DIN No.: |
00339334 |
|
|
|
|
Name : |
Mr. Suman Yadav |
|
Designation : |
Director |
|
Address : |
C-1/8, Barola Village, New Delhi-110059, India |
|
Date of Birth/Age : |
10.09.1966 |
|
Date of Appointment : |
28.04.2007 |
|
DIN No.: |
01332794 |
|
|
|
|
Name : |
Ms. Kalima Sheikh |
|
Designation : |
Director |
|
Address : |
D-358, DDA Flats P-3, Bindapur, New Delhi-110059, India |
|
Date of Birth/Age : |
01.04.1966 |
|
Date of Appointment : |
28.04.2007 |
|
DIN No.: |
01332889 |
KEY EXECUTIVES
|
Name : |
Mr. Prashant |
|
Designation : |
Senior Marketing Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2011
|
Names of Shareholders |
No. of Shares |
|
Shakeel Ahmed |
62667 |
|
P.N.P. Haris |
62667 |
|
Parmanand Yadav |
62666 |
|
Ahmed Ruby |
4000 |
|
Sheikh Kalima |
4000 |
|
Kumar Amit Yadav |
2000 |
|
Suman Devi |
2000 |
|
TOTAL
|
200000 |
AS ON 10.02.2012
|
Names of Allottee |
No. of Shares |
|
Shakeel Ahmed |
50000 |
|
P.N.P. Haris |
50000 |
|
Parmanand Yadav |
50000 |
|
Ahmed Ruby |
75000 |
|
Sheikh Kalima |
75000 |
|
Suman Devi |
73650 |
|
TOTAL
|
373650 |
AS ON 29.09.2011
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Lifts |
|
|
|
|
Exports : |
|
|
Countries : |
·
South Africa |
|
|
|
|
Imports : |
|
|
Products : |
·
Parts |
|
Countries : |
·
Korea |
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|
|
|
Terms : |
|
|
Selling : |
Cheques |
|
|
|
|
Purchasing : |
Cheques |
GENERAL INFORMATION
|
Customers : |
Manufacturer |
|||||||||||||||||||||||||||||||||||||||||||||||||||
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|
|||||||||||||||||||||||||||||||||||||||||||||||||||
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No. of Employees : |
25 (Approximately) |
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|
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Bankers : |
·
Indian Bank, A-3, Local Shopping Complex,
Janakpuri, New Delhi-110058, India ·
Barclays Bank ·
HDFC Bank ·
Kotak Mahindra Bank Limited ·
ICICI Bank ·
Syndicate Bank ·
Standard Chartered Bank |
|||||||||||||||||||||||||||||||||||||||||||||||||||
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Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Vikas Katyal Chartered Accountant |
|
Address : |
1E/18, 2nd Floor, Jhandewalan Extension, New Delhi-110055,
India |
|
PAN No.: |
AGQPK7561G |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000 |
Equity Shares |
Rs.10/- each |
Rs. 6.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
200000 |
Equity Shares |
Rs.10/- each |
Rs. 2.000
Millions |
|
|
|
|
|
AS ON 29.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
600000 |
Equity Shares |
Rs.10/- each |
Rs. 6.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
573650 |
Equity Shares |
Rs.10/- each |
Rs. 5.737
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 |
2.000 |
2.000 |
0.500 |
|
|
2] Share Application Money |
3.737 |
0.000 |
0.560 |
|
|
3] Reserves & Surplus |
7.437 |
4.133 |
2.806 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
13.174 |
6.133 |
3.866 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
1.366 |
2.144 |
1.972 |
|
|
2] Unsecured Loans |
7.144 |
5.092 |
7.405 |
|
|
TOTAL BORROWING |
8.510 |
7.236 |
9.377 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
21.684 |
13.369 |
13.243 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
4.025 |
4.489 |
2.944 |
|
|
Capital work-in-progress |
0.155 |
0.074 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
4.131 |
5.029 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.154 |
0.077 |
0.070 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1.754
|
8.913 |
4.703 |
|
|
Sundry Debtors |
30.303
|
23.542 |
23.555 |
|
|
Cash & Bank Balances |
1.613
|
0.503 |
0.676 |
|
|
Other Current Assets |
3.844
|
2.183 |
6.603 |
|
|
Loans & Advances |
4.226
|
3.669 |
1.605 |
|
Total
Current Assets |
41.740
|
38.810 |
37.142 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
11.854
|
10.659 |
10.894 |
|
|
Other Current Liabilities |
0.000
|
23.282 |
13.837 |
|
|
Provisions |
16.667
|
1.169 |
2.189 |
|
Total
Current Liabilities |
28.521
|
35.110 |
26.920 |
|
|
Net Current Assets |
13.219
|
3.700 |
10.222 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.007 |
|
|
|
|
|
|
|
|
TOTAL |
21.684 |
13.369 |
13.243 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
105.412 |
59.038 |
48.189 |
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
|
TOTAL (A) |
105.412 |
59.038 |
48.189 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Direct Expenses |
74.504 |
48.697 |
35.645 |
|
|
|
Employees Remuneration and Benefits |
1.440 |
1.440 |
1.215 |
|
|
|
Administrative Expenses |
15.809 |
10.417 |
7.403 |
|
|
|
Increase / (Decrease) in stock |
7.158 |
(4.210) |
1.636 |
|
|
|
TOTAL (B) |
98.911 |
56.344 |
45.899 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
6.501 |
2.694 |
2.290 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.176 |
0.020 |
0.025 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6.325 |
2.674 |
2.265 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.127 |
0.777 |
0.744 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
5.198 |
1.897 |
1.521 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.873 |
0.613 |
0.626 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
3.325 |
1.284 |
0.895 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
3.325 |
1.284 |
0.895 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.54 |
25.69 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.15
|
2.17 |
1.86 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.93
|
3.21 |
3.16 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
11.32
|
4.37 |
3.79 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.39
|
0.31 |
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.81
|
6.90 |
9.39 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.46
|
1.11 |
1.38 |
LOCAL AGENCY FURTHER INFORMATION
|
Check List by Info Agents |
Available in Report (Yes / No) |
|
1. Year of Establishment |
Yes |
|
2. Locality of the firm |
Yes |
|
3. Constructions of the firm |
Yes |
|
4. Premises details |
No |
|
5. Type of Business |
Yes |
|
6. Line of Business |
Yes |
|
7. Promoter’s background |
Yes |
|
8. No. of Employees |
Yes |
|
9. Name of person contacted |
Yes |
|
10. Designation of contact person |
Yes |
|
11. Turnover of firm for last three years |
Yes |
|
12. Profitability for last three years |
Yes |
|
13. Reasons for variation <> 20% |
------ |
|
14. Estimation for coming financial year |
No |
|
15. Capital in the business |
Yes |
|
16. Details of sister concerns |
No |
|
17. Major suppliers |
No |
|
18. Major customers |
No |
|
19. Payments terms |
Yes |
|
20. Export / Import details |
Yes |
|
21. Market information |
------ |
|
22. Litigations that the firm / promoter involved |
------ |
|
23. Banking Details |
Yes |
|
24. Banking facility details |
Yes |
|
25. Conduct of the banking account |
------ |
|
26. Buyer visit details |
------ |
|
27. Financials, if provided |
Yes |
|
28. Incorporation details, if applicable |
Yes |
|
29. Last accounts filed at ROC |
Yes |
|
30. Major Shareholders, if available |
Yes |
FUTURE PROSPECTS
The turnover as well
as profit has increased. But the directors are hopeful to increase it further
in the near future.
FORM 8
|
Corporate
identity number of the company |
U74899DL2005PLC141803 |
|
Name of the
company |
REAL ELEVATORS
LIMITED |
|
Address of the registered
office or of the principal place of
business in |
A-21-A, Mayapuri Industrial Area, Phase-II, New Delhi-110064, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
·
Immovable
property ·
Book
debts ·
Movable
property (not being pledge) ·
Others |
|
Particular of
charge holder |
Indian Bank, A-3, Local Shopping Complex, Janakpuri, New Delhi-110058,
India |
|
Nature of
instrument creating charge |
1.
Agreement
For Open Cash Credit (Stocks / Book debts) Dated 17-02-12 (D 105) and
Agreement of Hypothecation of Movables Dated 17-02-12 (D 101) For Limit Rs.
8.500 Millions. 2.
Form
D - 57 Executed By Directors As Guarantor By Mrs. Ruby Ahmed (NW 30.78), PNP
Harris (NW 57.17) and PNP Yadav (Nw 113.37) 3.
Extension
of EM of Property In Name of Mr. Shakeel Ahmed, Valued At Rs. 11.000
Millions, Mr. PNP Harris Valued At Rs. 9.000 Millions and Mr. Parmanand Yadav
Valued At Rs. 9.500 Millions and All Properties Valued By Mr. S. K. Jain. |
|
Date of
instrument Creating the charge |
17.02.2012 |
|
Amount secured by
the charge |
Rs. 8.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Base rate + 4% spread
+ 0.50 (TP) i.e. 15.25% (10.75+4.50) with monthly rests payable at monthly
intervals. Terms of repayment One Year And
Account To Be Renewed Every Year. Margin 25% of Value of
Stocks and Book Debts And 50% On Value of Property Under EM. Extent and operation of the charge The Charge Inter
Allia Operated As 100% In Favour of The Bank Other Extension of EM
of property in name of Mr. Shakeel Ahmed, valued at Rs. 11.000 Millions, Mr. PNP
Harris valued at Rs. 9.000 Millions and Mr. Parmanand Yadav valued at Rs.
9.500 Millions and all properties valued by Mr. S. K. Jain. Form d - 57
executed by directors as guarantor by Mrs. Ruby Ahmed (NW 30.78), PNP Harris
(NW 57.17) and PNP Yadav (NW 113.37) |
|
Short particulars
of the property charged (Including location of the property) |
Extension of EM
of property in name of Mr. Shakeel Ahmed, valued at Rs. 11.000 Millions, Mr.
PNP Harris valued at Rs. 9.000 Millions and Mr. Parmanand Yadav valued at Rs.
9.500 Millions and all properties valued by Mr. S. K. Jain. |
|
Whether any of
the property or interest therein under reference is not registered in the
name of the company. |
Yes |
|
If yes, in whose
name it is registers |
Mr. Shakeel Ahmed
Pnp Harris And Mr. Parmanand Yadav |
FIXED ASSETS
·
Air Conditioner
·
Almirah
·
Attendance Machine
·
Car
·
Computer
·
Fax Machines
·
Fire Extinguisher
·
Furniture and Fixtures
·
Generator
·
Machinery and Tools
·
Mobile Phone
·
Office Equipment
·
Scooters
·
Printer
·
Refrigerator
·
Water Purifier
·
UPS
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. 55.33 |
|
|
1 |
Rs. 86.55 |
|
Euro |
1 |
Rs. 67.95 |
INFORMATION DETAILS
|
Information Gathered
by : |
SBA |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
4 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
42 |
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.