MIRA
INFORM REPORT
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Report Date : |
18.05.2012 |
IDENTIFICATION DETAILS
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Name : |
COMPETENT CONVEYOR SYSTEMS PRIVATE LIMITED |
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Registered
Office : |
Q - 36, Navin Shahdara, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
09.12.1993 |
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Com. Reg. No.: |
55-056379 |
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Capital Investment
/ Paid-up Capital : |
Rs.0.176
Million |
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CIN No.: [Company Identification
No.] |
U74899DL1993PTC056379 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELC08724C |
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PAN No.: [Permanent Account No.] |
AAACC0345D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Handling Conveyor Systems. |
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No. of Employees
: |
15 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (29) |
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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 7000 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small company in its field. It’s scale of activities are
limited. Trade relations are reported as fair. Business is active. Payments are
reported are reported to be slow but correct. The company can be considered for small business dealings with some
caution. |
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
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 PARTED BY
|
Name : |
Mr. K.C. Jha |
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Designation : |
Account Manager |
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Contact No.: |
91-9971965253 |
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Date : |
05.05.2012 |
LOCATIONS
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Registered Office : |
Q - 36, Navin Shahdara, |
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Tel. No.: |
Not Available |
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Mobile No: |
91-9810034423 (Mr. S.P. Yadav) 91-9971965253 (Mr. K.C. Jha) |
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Fax No.: |
Not Available |
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E-Mail : |
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Area : |
200 sq ft |
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Location : |
Owned |
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Factory : |
C-117, Sector 65, Noida, Gautam Budh Nagar, Noida – 201301, |
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Tel. No.: |
91-120-4232744 |
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Fax No.: |
91-120-4232744 |
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E-Mail : |
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Area : |
500 sq. mtr. |
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Location : |
Owned |
DIRECTORS
As on 30.09.2011
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Name : |
Mr. Shri Pal Yadav |
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Designation : |
Director |
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Address : |
Q - 36, Navin Shahdara, |
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Date of Birth/Age : |
25.04.1961 |
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Date of Appointment : |
09.12.1993 |
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DIN No.: |
00503497 |
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Name : |
Mr. Sanjeev Yadav |
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Designation : |
Director |
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Address : |
Q - 36, Navin Shahdara, |
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Date of Birth/Age : |
01.06.1974 |
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Date of Appointment : |
30.12.2000 |
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DIN No.: |
00503440 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
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Names of Shareholders |
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No. of Shares |
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Shri Pal Yadav |
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1046 |
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Anita Yadav |
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465 |
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Deepanshu Yadav |
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250 |
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Total |
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1761 |
As on 30.09.2011
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Handling Conveyor Systems. |
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Products : |
v Conveyor Belt v Overhead Conveyor Belt v Bucket Elevators v Chain Conveyor v Roller Conveyors v Belt Conveyor Systems v Powerized Roller Conveyor v Chain Roller Conveyor v Flat Belt Conveyor v Multi Chain Conveyor v Slat Conveyor v Free Flow Conveyor v Material Handling Systems |
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Export : |
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Product : |
v
Handling Conveyor Systems |
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Country : |
v
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Imports : |
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Product : |
v
Raw Material |
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Country : |
v
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Terms : |
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Selling : |
Cash and Cheque |
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Purchasing : |
Cash and Cheque |
GENERAL INFORMATION
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Suppliers : |
v
S.K. Enterprises v
R.K. Trading |
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Customers : |
Wholesalers and Retailers v
Havells Private Limited |
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No. of Employees : |
15 (Approximately) |
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Bankers : |
v
Indian Bank, Noida, v
Barclays Bank, v
HDFC Bank Limited, Noida, v ICICI Bank v
Bank of v Indian Bank |
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Facilities : |
Term Loan – Rs.1.000 million (Indian Bank, Noida)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
DJS and Company Chartered Accountants |
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Address : |
Shop No.20, 1st Floor, |
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Tel No.: |
91-11-28316891 |
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Mobile No.: |
91-9312238932 |
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E-Mail : |
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PAN No.: |
AAEFD5729M |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000 |
Equity Shares |
Rs.100/- each |
Rs.0.500 Million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1761 |
Equity Shares |
Rs.100/-
each |
Rs.0.176
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 |
0.176 |
|
0.151 |
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2] Share Premium Received |
0.225 |
0.225 |
1.020 |
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3] Share Application Money |
0.615 |
0.615 |
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4] Reserves & Surplus |
0.729 |
0.524 |
0.415 |
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5] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.745 |
1.540 |
1.586 |
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LOAN FUNDS |
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1] Secured Loans |
0.854 |
0.756 |
1.066 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.240 |
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TOTAL BORROWING |
0.854 |
0.756 |
1.306 |
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DEFERRED TAX LIABILITIES |
0.005 |
0.000 |
0.000 |
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TOTAL |
2.604 |
2.296 |
2.892 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.328 |
2.497 |
2.791 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.035 |
0.032 |
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DEFERRED TAX ASSETS |
0.000 |
0.014 |
0.013 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
2.212
|
1.281
|
1.036 |
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Sundry Debtors |
4.340
|
2.994
|
2.633 |
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Cash & Bank Balances |
0.824
|
0.465
|
0.190 |
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Other Current Assets |
0.000
|
0.000
|
0.000 |
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Loans & Advances |
0.461
|
0.455
|
0.358 |
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Total
Current Assets |
7.837
|
5.195
|
4.217 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
|
4.544 |
3.337 |
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Other Current Liabilities |
|
0.901 |
0.824 |
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Provisions |
0.000
|
0.000
|
0.000 |
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Total
Current Liabilities |
8.561
|
5.445
|
4.161 |
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Net Current Assets |
(0.724)
|
(0.250)
|
0.056 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
2.604 |
2.296 |
2.892 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
TURNOVER |
15.569 |
15.517 |
9.377 |
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PROFIT |
0.298 |
0.176 |
0.076 |
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Particulars |
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|
31.03.2012 |
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Sales Turnover (Approximately) |
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15.000 |
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Expected Sales (2012-2013): Rs.20.000 millions
The above information has been parted by Mr. K.C. Jha (Account Manager).
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.40 |
4.03
|
3.45 |
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Current Ratio (Current Asset/Current Liability) |
|
0.92 |
0.95
|
1.01 |
LOCAL AGENCY FURTHER INFORMATION
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Check List by Info Agents |
Available in Report (Yes / No) |
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1) Year of
Establishment |
Yes |
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2) Locality of
the firm |
Yes |
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3) Constitutions
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 |
Yes |
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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 |
Yes |
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13) Reasons for
variation <> 20% |
-- |
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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 |
Yes |
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18) Major
customers |
Yes |
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19) Payments
terms |
Yes |
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20) Export /
Import details (if applicable) |
Yes |
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21) Market
information |
-- |
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22) Litigations
that the firm / promoter involved in |
-- |
|
23) Banking
Details |
Yes |
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24) Banking
facility details |
Yes |
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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 |
Yes |
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28) Incorporation
details, if applicable |
Yes |
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29) Last accounts
filed at ROC |
Yes |
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30) Major
Shareholders, if available |
Yes |
WORKING RESULTS:
The Company has done proper business activity during the year and have
done a turnover of Rs.15.569 millions and have earned a profit of Rs.0.298
million.
ACCOUNTS:
During the year ending 31st March, 2011 the company has made
a profit of Rs.0.298 million against Profit of Rs.0.176 million in the previous
year.
TRADE REFERENCES:
v
Havells Private Limited
v
S.K. Enterprises
v
R.K. Trading
WEBSITE DETAILS
PROFILE:
Established in 1993, they at subject are one of the manufacturers
and suppliers of superior quality conveyor systems. With increase in their
business, they have also established a new manufacturing unit in Noida,
They have also built a long-lasting relation with their clients by providing
them superior quality products with after sales service. Their timely delivery
and customized packaging solutions have gained them trust and satisfaction of
their customers. With an objective and goal to spread their wings more in
domestic and international market, they also provide value-added products to
their valuable clients.
INFRASTRUCTURAL
SET-UP
They have a sophisticated and modernized infrastructural
setup equipped with all latest techniques and machinery. They have consistently
adopted innovative procedures of manufacturing their gamut of products. Their
manufacturing unit is also engaged in proactive development efforts to keep in
touch with changing environment and technologies of international market. The
strength and quality of their organization depends on their state-of-art
machinery, quality managers and customer relationship managers.
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.54.38 |
|
|
1 |
Rs.86.55 |
|
Euro |
1 |
Rs.69.30 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
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|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
29 |
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.