MIRA
INFORM REPORT
|
Report Date : |
18.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
CHENNAI WINDOW SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
No.44, Padmavathy Nagar, Kolapakkam Village, Porur, Chennai – 600 116,
Tamilnadu |
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Country : |
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|
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Financials (as
on) : |
31.03.2012 |
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|
|
Date of
Incorporation : |
23.02.2011 |
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Com. Reg. No.: |
18-079327 |
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Capital
Investment / Paid-up Capital : |
Rs.0.500
million |
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|
|
CIN No.: [Company Identification
No.] |
U28999TN2011PTC079327 |
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|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHEC08752C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is engaged in manufacturing of UPVC windows and doors, GI
Channels and its related activities. |
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|
|
No. of Employees
: |
40 (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 5000 |
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|
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|
Status : |
Satisfactory |
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|
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a
relatively new company and establishing itself gradually. It has achieved better
sales turnover and profits in its first year of operation. Trade relations
are reported as fair. Business is active. Payment terms are slow but correct.
The company can
be considered 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Kadarkarai Chandrasekar |
|
Designation : |
Director |
|
Contact No.: |
91-9444381085 |
|
Date : |
06.04.2013 |
LOCATIONS
|
Registered Office/ Factory : |
No.44, Padmavathy Nagar, Kolapakkam Village, Porur, Chennai – 600 116,
Tamilnadu, India |
|
Tel. No.: |
91-44-22492045/ 22490875 |
|
Mobile No.: |
91-9444381085/ 9444381035 (Kadarkarai Chandrasekar) |
|
Fax No.: |
91-44-22491935 |
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E-Mail : |
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|
Website : |
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Head Office : |
129, Balakrishna Nagar, 2nd Street, Ramapuram, Chennai –
600 089, Tamilnadu, India |
DIRECTORS
As on 28.09.2012
|
Name : |
Mr. Subramani Anandha Kumar |
|
Designation : |
Director |
|
Address : |
No.17, Sanjay Gandhi Nagar, Velappanchavadi, Chennai – 600 077,
Tamilnadu, India |
|
Date of Birth/Age : |
14.10.1976 |
|
Date of Appointment : |
23.02.2011 |
|
DIN No.: |
01849735 |
|
|
|
|
Name : |
Mr. Kadarkarai Chandrasekar |
|
Designation : |
Director |
|
Address : |
No.5/23, LIG Twin House, Mugappair West, Chennai – 600 037, Tamilnadu,
India |
|
Date of Birth/Age : |
30.05.1973 |
|
Date of Appointment : |
23.02.2011 |
|
DIN No.: |
01969441 |
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|
|
|
Name : |
Sivagnanam Sujatha |
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Designation : |
Director |
|
Address : |
No.17, Sanjay Gandhi Nagar, Velappanchavadi, Chennai – 600 077,
Tamilnadu, India |
|
Date of Appointment : |
31.05.2011 |
|
DIN No.: |
03530032 |
|
|
|
|
Name : |
Srinivasaperumal Kavitha |
|
Designation : |
Director |
|
Address : |
No.2/267, 5th Street, AGS Colony, Phase-3, Mugalivakkam,
Chennai – 600 116, Tamilnadu, India |
|
Date of Appointment : |
31.05.2011 |
|
DIN No.: |
03550383 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
S. Anandha Kumar |
|
12500 |
|
K. Chandrasekar |
|
12500 |
|
S. Kavitha |
|
12500 |
|
S. Sujatha |
|
12500 |
|
Total |
|
50000 |
As on 28.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in manufacturing of UPVC windows and doors, GI
Channels and its related activities. |
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Products/ Services : |
Services
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Terms : |
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Selling : |
Cash and Credit (30 days) |
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Purchasing : |
Cash and Credit (30 days) |
GENERAL INFORMATION
|
Customers : |
Wholesalers and Retailers |
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No. of Employees : |
40 (Approximately) |
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Bankers : |
State Bank of India, Kolapakkam, Chennai – 600 116, Tamilnadu, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
Babu Peram and Associates Chartered Accountants |
|
Address : |
No.6, VOC II Cross Street, Kodambakkam, Chennai – 600 024, Tamilnadu,
India |
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Tel. No.: |
91-40-24818520/ 24843759 |
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Income-tax
PAN of auditor or auditor's firm : |
AACPP7401N |
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Associates/Subsidiaries : |
Parameswari
Enterprises Address: 129, Balakrishna Nagar, 2nd Street, Ramapuram, Chennai
– 600 089, Tamilnadu, India E-Mail: thirusooli5@yahoo.com
Website: http://www.thirusooli.com
Thirusooli
Enterprises Private Limited |
CAPITAL STRUCTURE
As on 28.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/-each |
Rs.0.500
million |
|
|
|
|
|
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/-each |
Rs.0.500
million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/-each |
Rs.0.500
million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2012 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.500 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
0.725 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
1.225 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.257 |
|
|
2] Unsecured Loans |
|
|
2.131 |
|
|
TOTAL BORROWING |
|
|
2.388 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
3.613 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
2.753 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERRED TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
3.213 |
|
|
Sundry Debtors |
|
|
2.200 |
|
|
Cash & Bank Balances |
|
|
0.392 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.150 |
|
Total
Current Assets |
|
|
5.955 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
4.585 |
|
|
Other Current Liabilities |
|
|
0.094 |
|
|
Provisions |
|
|
0.416 |
|
Total
Current Liabilities |
|
|
5.095 |
|
|
Net Current Assets |
|
|
0.860 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
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TOTAL |
|
|
3.613 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2012 |
|
|
|
SALES |
|
|
|
|
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|
Income |
|
|
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|
Other Income |
|
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|
|
|
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TOTAL |
|
|
35.780 |
|
|
|
|
|
|
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|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
34.723 |
|
|
|
Administrative Expenses |
|
|
|
|
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Advertising Expenses |
|
|
|
|
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TOTAL |
|
|
34.723 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
|
1.057 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
|
0.332 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
|
0.725 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
|
14.50 |
|
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2012 |
|
PAT / Total Income |
(%) |
|
|
2.03 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
|
12.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
|
0.86 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
1.95 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
|
1.17 |
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) 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 |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
11) Turnover of firm for last one year |
Yes |
|
12) Profitability for last one year |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
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 |
|
31)
Date of Birth of Proprietor/Partner/Director, if available |
Yes |
|
32)
PAN of Proprietor/Partner/Director, if available |
No |
|
33)
Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34)
External Agency Rating, if available |
No |
|
Unsecured Loans |
31.03.2012 (Rs. in Millions) |
|
SHORT TERM BORROWINGS |
|
|
Loans and
Advances |
1.731 |
|
Advance received
from Lakshmi |
0.400 |
|
Total |
2.131 |
FIXED ASSETS:
·
Plant and Machinery
·
Tools and Dies
·
Vehicles
·
Computer
·
Furniture and Fittings
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 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.53.94 |
|
|
1 |
Rs.82.77 |
|
Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
|
Information
Gathered by : |
JML |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
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.