|
Report Date : |
25.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
CHEMI TECH ENGINEERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
04.04.1997 |
|
|
|
|
Com. Reg. No.: |
086439 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.21.635 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45201DL1997PTC086439 |
|
|
|
|
Legal Form : |
Private Limited Liability Company
|
|
|
|
|
Line of Business
: |
Trader of Chemicals and Also Have Construction Business |
|
|
|
|
No. of Employees
: |
70 Approximately |
RATING & COMMENTS
|
MIRAs Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 171464 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. The latest
financial of the company is not filed with the government departments but the
previous year financial details shows satisfactory track records. Trade
relations are 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. Nand Kishore Gupta |
|
Designation : |
Director |
|
Contact No.: |
91-9818437035 |
|
Date : |
23.05.2012 |
LOCATIONS
|
Registered Office : |
104-Roots Tower, Laxmi Nagar District Centre, New Delhi 110092,
India |
|
Tel. No.: |
91-11-42448460 / 61 |
|
Mobile No.: |
91-9818437035 (Mr. Nand Kishore) |
|
Fax No.: |
91-11-42448458 |
|
E-Mail : |
|
|
Area : |
620 sq.ft |
|
Location : |
Owned |
|
|
|
|
Branches : |
Located At: ·
Faridabad ·
Hyderabad |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Nand Kishore Gupta |
|
Designation : |
Director |
|
Date of Birth/Age : |
07.05.1966 |
|
Date of Appointment : |
04.04.1979 |
|
|
|
|
Name : |
Mr. Darshanlala Gupta |
|
Designation : |
Director |
|
Date of Birth/Age : |
10.06.1963 |
|
Date of Appointment : |
04.04.1997 |
|
|
|
|
Name : |
Mrs. Sunita Gupta |
|
Designation : |
Director |
|
Date of Birth/Age : |
10.09.1964 |
|
Date of Appointment : |
27.07.2011 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Nand Kishore Gupta |
605558 |
|
Darshanlala Gupta |
955340 |
|
Sunita Gupta |
61446 |
|
Neeta Gupta |
57408 |
|
Bhajanlal Gupta |
48753 |
|
Murti Gupta |
65030 |
|
Total |
1793535 |
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 : |
Trader of Chemicals and Also Have Construction Business |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit |
|
|
|
|
Purchasing : |
Cash, Credit |
GENERAL INFORMATION
|
Suppliers : |
Reliance Industries |
|||||||||||||||||||||||||||||||||||||||
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Customers : |
Uflex Industries |
|||||||||||||||||||||||||||||||||||||||
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|||||||||||||||||||||||||||||||||||||||
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No. of Employees : |
70 Approximately |
|||||||||||||||||||||||||||||||||||||||
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|||||||||||||||||||||||||||||||||||||||
|
Bankers : |
·
Vijaya Bank, 2/10 Sanmati Vihar, Ansari Road,
Darya Ganj, Delhi 110002, India ·
ICICI Bank |
|||||||||||||||||||||||||||||||||||||||
|
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|
|||||||||||||||||||||||||||||||||||||||
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Facilities : |
Cash Credit Rs. 45.000 millions (Vijaya Bank) LC and BG Rs. 140.000 millions (Vijaya Bank) Rs. In Millions
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
UBS and Company Chartered Accountant |
|
Address : |
203 Shree Ganesh Complex, 32 B Veer Savarker Block, Shakarpur, Delhi
110092, India |
|
|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs. 10 each |
Rs. 20.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1793535 |
Equity Shares |
Rs. 10 each |
Rs.17.935 millions |
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs. 10 each |
Rs. 20.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1613535 |
Equity Shares |
Rs. 10 each |
Rs.16.135 millions |
|
|
Share Application Money |
|
Rs.5.500 millions |
|
|
|
|
Rs.21.635
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
16.135 |
16.135 |
16.135 |
|
|
2] Share Application Money |
5.500 |
4.000 |
0.000 |
|
|
3] Reserves & Surplus |
21.231 |
18.065 |
13.057 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
42.866 |
38.200 |
29.192 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
39.708 |
38.690 |
30.212 |
|
|
2] Unsecured Loans |
0.104 |
1.550 |
1.211 |
|
|
TOTAL BORROWING |
39.812 |
40.240 |
31.423 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.189 |
|
|
|
|
|
|
|
|
TOTAL |
82.678 |
78.440 |
60.804 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5.988 |
5.813 |
6.364 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.007 |
0.020 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
16.563
|
16.582 |
32.134 |
|
|
Sundry Debtors |
189.768
|
169.148 |
196.237 |
|
|
Cash & Bank Balances |
0.786
|
0.290 |
0.595 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
31.233
|
28.958 |
110.257 |
|
Total
Current Assets |
238.350
|
214.978 |
339.223 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
125.031
|
130.702 |
231.939 |
|
|
Other Current Liabilities |
35.156
|
9.335 |
50.790 |
|
|
Provisions |
1.480
|
2.334 |
2.054 |
|
Total
Current Liabilities |
161.667
|
142.371 |
284.783 |
|
|
Net Current Assets |
76.683
|
72.607 |
54.440 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
82.678 |
78.440 |
60.804 |
|
PROFIT & LOSS
ACCOUNT
|
Particulars |
|
31.03.2012 |
31.03.2011 |
|
Sales Turnover (Approximately) |
|
580.000 |
550.000 |
Expected Sales (2012-2013) : Rs.750.000
The above information has been parted by Mr Nand Kishore Gupta
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
501.057 |
706.477 |
648.504 |
|
|
|
Commission Received |
1.516 |
0.000 |
0.000 |
|
|
|
Other Income |
1.381 |
1.214 |
0.000 |
|
|
|
TOTAL (A) |
503.954 |
707.691 |
648.504 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
477.297 |
674.420 |
NA |
|
|
|
Selling and Distribution Expenses |
0.290 |
0.301 |
NA |
|
|
|
Administrative Expenses |
8.970 |
11.344 |
NA |
|
|
|
TOTAL (B) |
486.557 |
686.065 |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
17.397 |
21.626 |
NA |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
11.948 |
13.728 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5.449 |
7.898 |
NA |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.789 |
0.766 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4.660 |
7.132 |
6.448 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
1.495 |
2.125 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
3.165 |
5.007 |
NA |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS BALANCE BROUGHT FORWARD |
3.165 |
5.007 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1.96 |
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.62
|
0.70 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.93
|
1.00 |
0.99 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.90
|
3.23 |
1.86 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.18 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.70
|
4.78 |
10.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.47
|
1.50 |
1.19 |
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE REVIEW
During the year under review, the company has earned a handsome profit
during the year and is hopeful for better result in next year also.
Note:
Registered office of the company has been shifted from 208 M J Shopping Centre, 3 Veer Savarkar Block Shakarpur, New Delhi 110092, Uttar Pradesh, India to the present address.
FIXED ASSETS
·
Land
·
Building
·
Computer
·
Cycle
·
Electronics Equipments
·
Furniture
·
Motor Vehicles
·
Plant and Machinery
·
Air Conditioner
·
Fan
·
Scooter
·
Laboratory Equipment
FORM 8
|
Corporate
identity number of the company |
U45201DL1997PTC086439 |
|
Name of the
company |
CHEMI TECH ENGINEERS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
104-Roots Tower, Laxmi Nagar District Centre, New Delhi 110092, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property Book debts Movable property
(not being pledge) |
|
Particular of
charge holder |
Vijaya Bank, 2/10 Sanmati Vihar, Ansari Road, Darya Ganj, Delhi
110002, India Email: vinay.malani@gmail.com
|
|
Nature of
instrument creating charge |
1. Letter of
guarantee (doc-46) dated:- 19/09/2011 2. Aggrement to
extend charge on movable property dt:-19/09/2011 3. Counter
indemnity dated:-19/09/2011 4. Agreement for
demand cash credit against hypo. Of stocks and books debts (doc-33) dt
19/09/2011 5. Supplementary
agreement 6. General power
of attorney dt:-19/09/2011 |
|
Date of
instrument Creating the charge |
19.09.2011 |
|
Amount secured by
the charge |
Rs. 182.500
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Base Rate (BR) +5.00
i.e. 15.65 % floating FOR CCH and for ILFC BG as per HOC 80/09 134/09 HOGC
10061 Terms of repayment Facility for a
period of 1 year. Margin Stock in trade
chemicals and materials at turnkey projects
= 25% margin Book debts and
recievables = 40% margin Extent and operation of the charge 100% on primary
and collateral security mortgage |
|
Short particulars
of the property charged (Including location of the property) |
Primary security:
hypothecation of stock and book debts Collateral security:
lease hold industrial plot no. 39, c block, sector 8, noida measuring 760
s.q.mts owned by Chemtech Engineers Pvt Ltd plot measuring
162 sq.mts (1749.60 sq.ft.) situated at Plot No.87- A, C Block, Sector 26,
NOIDA-201301 Commercial
Leasehold plot measuring 608.81 Sq.ft with a shop on first floor situated on
Plot No.7, District Centre, Laxmi Nagar, Delhi-92 Industrial land
measuring 1815 sq.yds (16335 sq.ft) with a shed thereon with built up area of
761 sq.ft, situated at Plot No.3, Khasra No.258, Girdharpur Road, Chhapraula,
G.T Road, Gautam Budh Nag Industrial Plot
measuring 1815 sq.yds (16335 sq.ft) with a shed, Office, Toilets with total
built up area of 1135 sq.ft sitated at Plot No 4, Khasra No.258(Part),
Chhapraula Village, Girdharpur Road EMDTD of basement
(LGF), E-213, admeasuring 100 sq.yds. Lajpat Nagar-II, New Delhi-110024 in
the name of Mr. Alok Gupta 5. Flat on 2nd floor of property No.D-2,
Lajpat Nagar, Phase III Delhi, belonging to Sri DL Gupta and Sri NK Gupta,
sons of Sri BL Gupta, as per Legal opinion by Smt. Chandra Kumari K.C. Fixed Assets of
the Company valued 6.447 millions as
per Prov. Balance sheet 2011 Lien on Term
Deposit of Rs. 0.114 million. |
|
Whether any of
the property or interest therein under reference is not registered in the
name of the company. If yes, in whose
name it is registers |
Yes D L GUPTA AND N K
GUPTA |
|
Date of
instrument modifying the charge |
30.03.2010 |
|
Particulars of
the present modification |
1) CCH limit
enhanced to Rs.45.000 millions 2) ILC / FLC limit (DA 120 days) enhanced to
Rs.117.500 millions 3) Sub BG limit of Rs.70.000 millions in ILFC /
FLC above 4) BG FOR
SD/EMD/PERFORMANCE ENHANCED TO
RS.20.000 millions. |
|
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 |
Yes |
|
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 |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
Yes |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
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.56.28 |
|
|
1 |
Rs.88.26 |
|
Euro |
1 |
Rs.70.82 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
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 |
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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
44 |
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.