|
Report Date : |
15.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
LGF SYSMAC INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
402-403, Tower C, NDM 2, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
09.03.2000 |
|
|
|
|
Com. Reg. No.: |
55-104302 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.
9.900 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL2000PTC104302 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporter of Hardware for Aluminum. |
|
|
|
|
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 100000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office / Corporate Office : |
402-403, Tower C, NDM 2, |
|
Tel. No.: |
91-11-47348888 |
|
Fax No.: |
91-11-47348899 |
|
E-Mail : |
|
|
Website: |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Deepak Chugh |
|
Designation : |
Director |
|
Address : |
D-I, Suvidha Apartment, Plot No. 25, Sector-13, Rohini, New
Delhi-110085, |
|
Date of Birth/Age : |
15.08.1973 |
|
Date of Appointment : |
09.03.2000 |
|
DIN No : |
01058341 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U74899DL2000PTC104302 |
LGF SYSMAC INDIA
PRIVATE LIMITED |
Director |
09-03-00 |
09-03-00 |
Active |
NO |
|
2 |
U27203MH2004PTC149401 |
NORTHWEST
ARCHITECTURALS PRIVATE LIMITED |
Director |
04-11-04 |
04-11-04 |
Active |
NO |
|
3 |
U29199DL2005PTC142831 |
FOM INDUSTRIES
INDIA PRIVATE LIMITED |
Director |
22-11-05 |
22-11-05 |
Active |
NO |
|
Name : |
Mrs. Gauri Chugh |
|
Designation : |
Director |
|
Address : |
D-I, Suvidha Apartment, Plot No. 25, Sector-13, Rohini, New
Delhi-110085, |
|
Date of Birth/Age : |
20.09.1976 |
|
Date of Appointment : |
30.07.2010 |
|
DIN No : |
01091422 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U74899DL2000PTC104302 |
LGF SYSMAC INDIA
PRIVATE LIMITED |
Director |
30-07-10 |
09-03-00 |
Active |
NO |
|
Name : |
Mr. Ashim Chugh |
|
Designation : |
Director |
|
Address : |
D-I, Suvidha Apartment, Plot No. 25, Sector-13, Rohini, New
Delhi-110085, |
|
Date of Birth/Age : |
10.09.1978 |
|
Date of Appointment : |
12.05.2003 |
|
DIN No : |
01091498 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U74899DL2000PTC104302 |
LGF SYSMAC INDIA
PRIVATE LIMITED |
Director |
12-05-03 |
12-05-03 |
Active |
NO |
|
2 |
U27203MH2004PTC149401 |
NORTHWEST
ARCHITECTURALS PRIVATE LIMITED |
Director |
04-11-04 |
04-11-04 |
Active |
NO |
|
Name : |
Mrs. Mansha Chugh |
|
Designation : |
Director |
|
Address : |
D-I, Suvidha Apartment, Plot No. 25, Sector-13, Rohini, New
Delhi-110085, |
|
Date of Birth/Age : |
22.05.1980 |
|
Date of Appointment : |
30.07.2010 |
|
DIN No : |
02227642 |
Other Directorship:
|
S.No. |
CIN |
Name
of the Company |
Current
designation of the director |
Date
of appointment at current designation |
Original
date of appointment |
Company
Status |
Defaulting
status |
|
1 |
U74899DL2000PTC104302 |
LGF SYSMAC INDIA
PRIVATE LIMITED |
Director |
30-07-10 |
01-12-08 |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Deepak Chugh |
|
450000 |
|
Ashim Chugh |
|
450000 |
|
Gauri Chugh |
|
30000 |
|
Mansha Chugh |
|
5000 |
|
Vineet Chugh |
|
10000 |
|
Satya Pal and Sons (HUF) |
|
30000 |
|
Ashim Chugh (HUF) |
|
5000 |
|
Deepak Chugh (HUF) |
|
10000 |
|
Total |
|
990000 |
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 : |
Manufacturer and Exporter of Hardware for Aluminum. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
Bank Of |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R N. Mittal and Associates Chartered Accountant |
|
Address : |
204-206, Harsha House, Commercial Complex, Karampura, New Delhi-110015,
|
|
Tel No.: |
91-25920552, 45095229 |
|
Pan No.: |
AAIPM7209B |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
990000 |
Equity Shares |
Rs. 10/- each |
Rs. 9.900
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 |
9.900 |
9.900 |
0.200 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
18.257 |
10.590 |
2.819 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
28.157 |
20.490 |
3.019 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
43.598 |
36.351 |
1.355 |
|
|
2] Unsecured Loans |
11.043 |
14.298 |
0.000 |
|
|
TOTAL BORROWING |
54.641 |
50.649 |
1.355 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
82.798 |
71.139 |
4.374 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
12.506 |
12.689 |
2.014 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.414 |
0.197 |
0.007 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
54.716
|
36.174
|
0.000 |
|
|
Sundry Debtors |
31.185
|
39.114
|
0.341 |
|
|
Cash & Bank Balances |
11.971
|
11.229
|
1.333 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
12.129
|
7.196
|
1.561 |
|
Total
Current Assets |
110.001
|
93.713
|
3.235 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
29.606
|
29.596
|
0.654 |
|
|
Other Current Liabilities |
6.449
|
1.879
|
0.157 |
|
|
Provisions |
4.160
|
4.108
|
0.070 |
|
Total
Current Liabilities |
40.215
|
35.583
|
0.882 |
|
|
Net Current Assets |
69.786
|
58.130
|
2.353 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.092 |
0.123 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
82.798 |
71.139 |
4.374 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
152.066 |
171.400 |
0.000 |
|
|
|
Other Income |
7.116 |
3.017 |
2.914 |
|
|
|
Other Non Operating Income |
1.606 |
4.004 |
0.116 |
|
|
|
TOTAL |
160.788 |
178.421 |
3.030 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
138.566 |
157.935 |
2.397 |
|
|
|
|
TOTAL |
138.566 |
157.935 |
2.397 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
22.222 |
20.486 |
0.633 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
7.180 |
6.563 |
0.113 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
15.042 |
13.923 |
0.520 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
3.310 |
2.210 |
0.433 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
11.732 |
11.713 |
0.087 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
4.065 |
3.943 |
0.081 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
7.667 |
7.770 |
0.006 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
10.589 |
2.819 |
2.813 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
18.256 |
10.589 |
2.819 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
28.44 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
4.77
|
4.35
|
0.20 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
7.72
|
6.83
|
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.54
|
10.99
|
1.65 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.42
|
0.57
|
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.85
|
4.21
|
0.74 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.74
|
2.63
|
3.67 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS:
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Trade Creditors |
24.675 |
23.253 |
0.000 |
|
Sundry Creditors for expenses etc |
4.931 |
6.343 |
0.654 |
|
Total |
29.606 |
29.596 |
0.654 |
|
Check list by info
Agents |
Available in Report (Yes/ No) |
|
Year of Establishment |
Yes |
|
Locality of the Firm |
Yes |
|
Constitution of the Firm |
Yes |
|
Premises details |
No |
|
Type of Business |
Yes |
|
Line of Business |
Yes |
|
Promoter’s Background |
Yes |
|
No. of Employees |
No |
|
Name of Person Contacted |
No |
|
Designation of Contact person |
No |
|
Turnover of Firm for last three years |
Yes |
|
Profitability for last three years |
Yes |
|
Reasons for variation <> 20% |
--------- |
|
Estimation for coming financial year |
No |
|
Capital in the business |
Yes |
|
Details of sister concerns |
No |
|
Major Suppliers |
No |
|
Major Customers |
No |
|
Payments Terms |
No |
|
Export/ Imports Details (If applicable) |
No |
|
Market Information |
------------ |
|
Litigations that the firm/ Promoters Involved in |
------------ |
|
Banking details |
Yes |
|
Banking Facility Details |
Yes |
|
Conduct of the Banking Account |
------------ |
|
Buyer visit details |
------------- |
|
Financials, if provided |
Yes |
|
Incorporation details is applicable |
Yes |
|
Last Accounts filed at ROC |
Yes |
|
Major Shareholders, if available |
Yes |
Note:
Registered office of the company has been shifted
from 205, Balram House Commercial Complex, Karampura,
Form 8
|
Corporate
identity number of the company |
U74899DL2000PTC104302 |
|
Name of the
company |
LGF SYSMAC INDIA
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
402-403, Tower C, NDM 2, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
10191171 |
|
Type of charge |
Book debts Movable property (not being pledge) Floating charge |
|
Particular of
charge holder |
Bank Of Email: karamp@bankofbaroda.com |
|
Nature of
instrument creating charge |
Supplemental
Instrument of Hypothecation of Stocks and Goods dated 31/03/2012 |
|
Date of
instrument Creating the charge |
31.03.2012 |
|
Amount secured by
the charge |
Rs. 80.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As per Agreement Terms of repayment Payable on Demand Margin As per Sanctioned
terms and conditions Extent and operation of the charge 100% Other The above is to
secure all amounts payable under Cash Credit Limit of Rs. 60.000 Millions
{sub limit Inland Bill Discounting upto 180 days under Prime Bank L/C/FLC
(DA/DP upto 180 days), Buyers Credit 180 days) - (Rs. 50.000 Millions)} and
FLC (DA usance up to 90 days Rs. 20.000 Millions Total Exposure- Rs. 80.000
Millions granted to the Company together with all interests, costs, charges,
expenses etc. |
|
Particulars of
the present modification |
Extent of
operation of charge on stocks, book debts and plant and machinery stands
enhanced from Rs. 60.000 Millions to Rs. 80.000 Millions to secure all
amounts payable under Cash Credit Limit of Rs. 60.000 Millions {sub limit
Inland Bill Discounting upto 180 days under Prime Bank L/C/FLC (DA/DP upto
180 days), Buyers Credit 180 days) - (Rs. 50.000 Millions)} and FLC (DA
usance up to 90 days)- Rs. 20.000 Millions Total Exposure- Rs. 80.000
Millions. Other Terms and Conditions remain the same. |
FIXED ASSETS:
AS PER WEBSITE DETAILS:
COMPANY PROFILE
LGF SYSMAC, a consortium of European
companies has been a market leader offering a wide range of products and
complete solutions catering to individual demands of the Construction and
Building industry. Having an experience of over a decade in the Indian market
LGF SYSMAC has been setting standards in quality, service and technology
upgradation.
Based in
The mainstream
range of products being promoted include state-of-the-art machinery for working
on aluminium and upvc profiles, panel saws for working on composite panels and
architectural hardware for windows & doors, curtain-wall and glazed facades
LGF SYSMAC is
committed to supplying innovative products of the highest quality backed with
the willingness to embrace new ideas and learn continuously.
Since its
conception in 1998 LGF SYSMAC has grown in strength and has become an
organization active throughout
LGF SYSMAC values
its relationship with its customers. It strives to be at the forefront of the
industry requirements with the vision to forecast future market demands with
excellence. As a team we deliver products and services that meet the quality,
performance and price aspirations of customers.
We are committed
to working closely with architects, specifiers, promoters, developers,
consultants, designers, fabricators and contractors to help improve the
standard and performance of commercial and domestic windows & doors in the
Indian sub continent
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. 53.64 |
|
|
1 |
Rs. 86.42 |
|
Euro |
1 |
Rs. 69.28 |
INFORMATION DETAILS
|
Report Prepared
by : |
ACH |
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 |
YES |
|
--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.