|
Report Date : |
24.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
HI-REACH CONSTRUCTION EQUIPMENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
D-147, Okhla Industrial Area Phase I, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
23.09.1992 |
|
|
|
|
Com. Reg. No.: |
050404 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 9.092 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1992PTC050404 |
|
|
|
|
Legal Form : |
Private Limited Liability Company
|
|
|
|
|
Line of Business
: |
Manufacturer and Marketing of Scaffolding and Formwork Equipments. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRAs 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 327808 |
|
|
|
|
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) |
|
India |
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 : |
D-147, Okhla Industrial Area Phase I, New Delhi 110020, India |
|
Tel. No.: |
91-11-46619100 / 41708975 / 76 |
|
Fax No.: |
91-11-26371085 / 46619120 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory : |
Unit No 1, S-59 Site IV UPSIDC Sheds Sahibabad, Ghaziabad 201010,
Uttar Pradesh, India |
DIRECTORS
AS ON 29.09.2011
|
Name : |
Mr. Sanjay M Kaul |
|
Designation : |
Director |
|
Address : |
F-26, Sector 39, Gautam Budh Nagar, Noida 201301, Uttar Pradesh,
India |
|
Date of Birth/Age : |
12.12.1960 |
|
Date of Appointment : |
23.09.1992 |
|
|
|
|
Name : |
Mr. Brij Mohan |
|
Designation : |
Director |
|
Address : |
F-26, Sector 39, Gautam Budh Nagar, Noida 201301, Uttar Pradesh,
India |
|
Date of Birth/Age : |
27.08.1934 |
|
Date of Appointment : |
19.01.2002 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2011
|
Names of Shareholders |
No. of Shares |
|
Sanjay M Kaul |
85320 |
|
Brij Mohan |
100 |
|
Ashwani Tiku |
4000 |
|
Sunil Lala |
1500 |
|
Total |
90920 |
AS ON 29.09.2011
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
98.00 |
|
Other top fifty shareholders |
|
2.00 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Marketing of Scaffolding and Formwork Equipments. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Bankers : |
·
Punjab National Bank, Maharani Bagh, New Delhi
110065, India ·
ICICI Bank Limited, Landmark Race Cource Circle,
Alkapuri, Baroda 390015, Gujarat, India |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
Rs. In Millions
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S P Marwaha and Company Chartered Accountant |
|
Address : |
31, Basement Siri Fort Road, New Delhi 110049, India |
|
|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 29.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs. 100 each |
Rs.10.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
90920 |
Equity Shares |
Rs. 100 each |
Rs. 9.092 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 |
9.092 |
9.092 |
9.092 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
72.860 |
61.686 |
57.802 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
81.952 |
70.778 |
66.894 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
34.098 |
0.000 |
38.650 |
|
|
2] Unsecured Loans |
0.858 |
0.858 |
4.320 |
|
|
TOTAL BORROWING |
34.956 |
0.858 |
42.970 |
|
|
DEFERRED TAX LIABILITIES |
2.343 |
2.332 |
2.251 |
|
|
|
|
|
|
|
|
TOTAL |
119.251 |
73.968 |
112.115 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
26.176 |
27.661 |
29.213 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.003 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
11.342
|
27.041 |
32.063 |
|
|
Sundry Debtors |
120.587
|
47.456 |
88.620 |
|
|
Cash & Bank Balances |
11.570
|
17.023 |
0.574 |
|
|
Other Current Assets |
5.024
|
9.552 |
1.155 |
|
|
Loans & Advances |
0.000
|
0.000 |
13.975 |
|
Total
Current Assets |
148.523
|
101.072 |
136.387 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
42.401
|
29.290 |
22.013 |
|
|
Other Current Liabilities |
6.276
|
23.383 |
25.650 |
|
|
Provisions |
6.771
|
2.092 |
5.838 |
|
Total
Current Liabilities |
55.448
|
54.765 |
53.501 |
|
|
Net Current Assets |
93.075
|
46.307 |
82.886 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED REVENUE EXPENDITURE |
0.000 |
0.000 |
0.013 |
|
|
|
|
|
|
|
|
TOTAL |
119.251 |
73.968 |
112.115 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
340.146 |
168.517 |
422.066 |
|
|
|
Other Income |
0.170 |
2.706 |
2.531 |
|
|
|
TOTAL (A) |
340.316 |
171.223 |
424.597 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Direct Manufacturing Cost |
304.314 |
150.390 |
376.272 |
|
|
|
Administrative Expenses |
17.313 |
13.824 |
30.079 |
|
|
|
TOTAL (B) |
321.627 |
164.214 |
406.351 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
18.689 |
7.009 |
18.246 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
18.689 |
7.009 |
18.246 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.533 |
1.570 |
1.559 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
17.156 |
5.439 |
16.687 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
5.983 |
1.556 |
5.693 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
11.173 |
3.883 |
10.994 |
|
|
|
|
|
|
|
|
|
Less |
Earlier Year of Establishment Adjustments |
0.000 |
0.000 |
0.049 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS BALANCE BROUGHT FORWARD |
60.646 |
56.762 |
45.816 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
71.820 |
60.646 |
56.762 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
122.90 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.28
|
2.26 |
2.58 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.04
|
3.22 |
3.95 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.82
|
4.22 |
10.07 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.07 |
0.24 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.13
|
0.81 |
1.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.67
|
1.84 |
2.54 |
LOCAL AGENCY FURTHER INFORMATION
FIXED ASSETS:
·
Land building
·
Plant and Machinery
·
Furniture and Fixture
·
Vehicle
·
Office Equipments
·
Computer
·
Fire Fighting Equipment
FORM 8
|
Corporate
identity number of the company |
U74899DL1992PTC050404 |
|
Name of the
company |
HI-REACH CONSTRUCTION EQUIPMENTS PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
D-147, Okhla Industrial Area Phase I, New Delhi 110020 , India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
property Any Interest in immovable
property |
|
Particular of
charge holder |
ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Baroda
390015, Gujarat, India Email: shikha.gupta@icicibank.com
|
|
Nature of
instrument creating charge |
ICICI Bank Home
Loan Agreement And Sanction Letter For Facility |
|
Date of
instrument Creating the charge |
31.01.2012 |
|
Amount secured by
the charge |
Rs. 95.900
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest 12.25% Floating
Rate Of Interest As On Date (I Base Of 10.00% + Margin Of 2.25%) Terms of repayment Rs. 95.900 millions
will be repaid in EMIs for 12O Months (Rs. 1.389 millions payable monthly) subject to change in
I-base Margin As per sanction
letter attached Extent and operation of the charge First And
Exclusive Charge On Property At N 3,
Sector - 18, Noida Other Personal
Guarantee of The Directors |
|
Short particulars
of the property charged (Including location of the property) |
First and
exclusive charge on property at N 3,
Sector - 18, Noida |
|
Check List by
Info Agents |
Available in Report
(Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions 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 |
No |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
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 |
No |
|
20) Export / Import details (if
applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
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 |
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 Intl 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 companys 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.55.93 |
|
|
1 |
Rs.88.15 |
|
Euro |
1 |
Rs.70.88 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
This score serves as a reference to assess SCs 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.