MIRA INFORM REPORT

 

 

Report Date :

28.01.2013

 

IDENTIFICATION DETAILS

 

Name :

WOLLAQUE VENTILATION AND CONDITIONING PRIVATE LIMITED

 

 

Registered Office :

Flat No. 204, Corporate Tower, 85-A, Zamrudpur, New Delhi - 110048

 

 

Country :

India

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

04.09.1995

 

 

Com. Reg. No.:

55-072136

 

 

Capital Investment / Paid-up Capital :

Rs. 1.000 million

 

 

CIN No.:

[Company Identification No.]

U74899DL1995PTC072136

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

DELW00605D

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacture, Exporter and Supplier of Air Pollution, Industrial Ventilation Equipments and Other Related Systems.

 

 

No. of Employees :

42 (Approximately)

 

 

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 56000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track record. There appears some dip in the turnover and profitability of the company. However, networth appears to be satisfactory. Trade relations are reported as fair. Business is active. Payments are reported to be usually correct and as per commitment.

 

The company can be considered normal for business dealings at usual trade terms and condition.

 

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)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

INDIAN ECONOMIC OVERVIEW

 

India is developing into an open-market economy, yet traces of its past autarkic policies remain. Economic liberalization, including industrial deregulation, privatization of state-owned enterprises, and reduced controls on foreign trade and investment, began in the early 1990s and has served to accelerate the country's growth, which has averaged more than 7% per year since 1997. India's diverse economy encompasses traditional village farming, modern agriculture, handicrafts, a wide range of modern industries, and a multitude of services. Slightly more than half of the work force is in agriculture, but services are the major source of economic growth, accounting for more than half of India's output, with only one-third of its labor force. India has capitalized on its large educated English-speaking population to become a major exporter of information technology services and software workers. In 2010, the Indian economy rebounded robustly from the global financial crisis - in large part because of strong domestic demand - and growth exceeded 8% year-on-year in real terms. However, India's economic growth in 2011 slowed because of persistently high inflation and interest rates and little progress on economic reforms. High international crude prices have exacerbated the government's fuel subsidy expenditures contributing to a higher fiscal deficit, and a worsening current account deficit. Little economic reform took place in 2011 largely due to corruption scandals that have slowed legislative work. India's medium-term growth outlook is positive due to a young population and corresponding low dependency ratio, healthy savings and investment rates, and increasing integration into the global economy. India has many long-term challenges that it has not yet fully addressed, including widespread poverty, inadequate physical and social infrastructure, limited non-agricultural employment opportunities, scarce access to quality basic and higher education, and accommodating rural-to-urban migration.

Source : CIA

 

 

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 (GENERAL DETAILS)

 

Name :

Mr. Ravindra Mattro

Designation :

Director

Contact No.:

91-9810070142

Date :

23.01.2013

 

 

LOCATIONS

 

Registered Office :

Flat No. 204, Corporate Tower, 2nd Floor, 85-A, Zamrudpur, New Delhi-110048, India

Tel. No.:

91-11-26271149

Mobile No.:

91-9810070142 (Mr. Ravindra Mattoo)

Fax No.:

Not Available

E-Mail :

wvcl@hotmail.com

shahbhupinder@gmail.com

Website :

www.wollaque.com

 

 

Factory :

A-45, Secot-83, Phase II, Gautam Budh Nagar, Noida-201301, Uttar Pradesh, India 

Tel. No.:

91-120-2460644 / 45 / 46 / /47

Fax No.:

91-120-2460642

 

 

DIRECTORS

 

As on 29.09.2012

 

Name :

Mr. Ravinder Mattoo 

Designation :

Director

Address :

18-A, Nilgiri Apartments, Part-I, C-72, Sector - 34, Gautam Budh Nagar, Noida – 201 303, Uttar Pradesh, India

Date of Birth/Age :

02.11.1962

Date of Appointment :

04.09.1995

DIN No.:

00353148

 

 

Name :

Mrs. Anita Mattoo

Designation :

Director

Address :

18-A, Nilgiri Apartments, Part-I, C-72, Sector - 34, Gautam Budh Nagar, Noida – 201 303, Uttar Pradesh, India

Date of Birth/Age :

04.01.1964

Date of Appointment :

31.08.2006

DIN No.:

00860667

PAN No.:

ANXPM2890G

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 29.09.2012

 

Names of Shareholders

 

No. of Shares

 

 

 

Mr. Ravinder Mattoo 

 

95000

Mrs. Anita Mattoo

 

5000

 

 

 

TOTAL

 

100000

 

Equity Share Break up (Percentage of Total Equity)

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

 

Line of Business :

Manufacture, Exporter and Supplier of Air Pollution, Industrial Ventilation Equipments and Other Related Systems.

 

 

Products :

·         Humidification Systems

·         Air Washer Systems

·         Dust Extraction Systems

·         Fume Extraction Systems

·         Bag Filters

·         Cyclones

·         Scrubbers

·         Energy Saving Cellulose Cooling Plants

·         Air Conditioning Systems

·         Motor Ventilation Systems

·         Automatic Air Filters

·         Chilling Systems

·         Heating Systems

·         Dehumidification Systems

·         Pneumatic Conveying Systems

·         Rotary Air Locks

·         Screw Conveyors

·         Belt Conveyors

·         Silos

·         Blenders    

·         Vibro Screens

·          Hoppers

 

 

Exports :

 

Products :

Finished Goods

Countries :

·         Dubai

·         Middle East

·         Bangladesh

·         Asian Sub – Continent Countries

 

 

Terms :

 

Selling :

Cash / Credit / Cheque

 

 

Purchasing :

Cash / Credit / Cheque

 

 

GENERAL INFORMATION

 

 

Customers :

Wholesalers and Industries

 

Automobile/Engineering Industry

·         Usha India Limited, Faridabad, India

·         Jay Bharat Maruti Limited, Gurgaon, India

·         Escorts Limited, Faridabad, India

 

Paper, PVC and Polyfilms

·         Goodyear India Limited Ballabhgarh

·         C M Prints Limited, Faridabad

·         Dev Agro Fibers Limited, Meerut

 

Food Processing/Pharmaceuticals

·         Ranbaxy Lab Limited, Ropar

·         Dabur India Limited, Sahibabad

·         Alchem International Private Limited

 

Rice Mills

·         RT Exports, Murthal

·         K.V. Overseas Limited, Ghaziabad

·         Mamraj Chunilal, Delhi

 

Chemical/Fertilizers/Rubber

·         Amrit Agro Industries, Sahibabad

·         J.K Industries Limited, Delhi

·         Nuchem Plastics Limited, Faridabad

 

Textile and Synthetic Yarns

·         Pintu Texnit Limited, Noida

·         LTG Air Engineering Limited, Delhi

·         Esslon Synthetics Limited, Kanpur

 

 

No. of Employees :

42 (Approximately)

 

 

Bankers :

·         The Jammu and Kashmir Bank Limited, P-2, JOP Plaza, Sector – 18, Noida-201301, Uttar Pradesh, India

Tel. No.: 91-120-2516776

 

 

Facilities :

Secured Loan

As on

31.03.2012

(Rs. in

Millions)

As on

31.03.2011

(Rs. in

Millions)

Loans taken for vehicles from banks

0.635

0.684

Total

0.635

0.684

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Bhupinder Shah and Company

Chartered Accountant

Address :

C-12, Raj Nagar, C H B S, Pitampura, Delhi – 110 034, Delhi, India

PAN No.:

AAAFB0031C

 

 

CAPITAL STRUCTURE

 

As on 31.03.2012

 

Authorized 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

 

 

 

 

100000

Equity Shares

Rs. 10/- each

Rs. 1.000 million

 

 

 

 

 

 

 

 

 

NOTE:

 

Reconciliation of the Shares outstanding at the beginning and at the end of the reporting period

 

                                                                                                                                            (Rs. in millions)

 

As on 31st March 2012

Particulars

No. of Shares

Amount

 

 

 

At the beginning of the period

100000

1.000

Issued during the period

0.00

0.00

Redeemed or bought back during the period

0.00

0.00

 

 

 

TOTAL

100000

1.000

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2012

31.03.2011

31.03.2010

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

1.000

1.000

1.000

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

13.182

10.398

7.194

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

14.182

11.398

8.194

LOAN FUNDS

 

 

 

1] Secured Loans

0.635

0.684

0.390

2] Unsecured Loans

0.000

0.000

0.000

TOTAL BORROWING

0.635

0.684

0.390

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

14.817

12.082

8.584

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

6.636

6.712

6.098

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.000

0.000

0.000

DEFERRED TAX ASSETS

0.065

0.021

0.018

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
1.494

3.277
1.979

 

Sundry Debtors
13.906

20.861
15.090

 

Cash & Bank Balances
43.087

27.354
18.331

 

Other Current Assets
0.000

0.000
0.000

 

Loans & Advances
5.788

4.904

7.135

Total Current Assets
64.275

56.396

42.535

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
45.291

41.377
34.557

 

Other Current Liabilities
7.011

4.987
4.581

 

Provisions
3.857

4.683
0.930

Total Current Liabilities
56.159

51.047
40.068

Net Current Assets
8.116

5.349
2.468

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

14.817

12.082

8.584

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

 

31.03.2012

31.03.2011

31.03.2010

 

SALES

 

 

 

 

 

Income

59.175

86.111

45.361

 

 

Other Income

NA

NA

NA

 

 

TOTAL                        

NA

NA

NA

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Selling and Distribution Expenses

 

 

Office Expenses

NA

NA

NA

 

 

Administrative Expenses

 

 

 

 

 

Advertising Expenses

 

 

 

 

 

TOTAL                        

NA

NA

NA

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION

5.069

5.517

3.683

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

1.013

0.860

0.740

 

 

 

 

 

 

PROFIT BEFORE TAX

4.056

4.657

2.943

 

 

 

 

 

Less

TAX                                                     

1.273

1.453

(0.636)

 

 

 

 

 

 

PROFIT AFTER TAX

2.783

3.204

2.307

 

 

 

 

 

 

Earnings Per Share (Rs.)

27.83

32.04

23.07

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2012

31.03.2011

31.03.2010

Net Profit Margin

(PBT/Sales)

(%)
6.85

5.41
6.49

 

 
 

 
 

Return on Total Assets

(PBT/Total Assets}

(%)
5.72

7.38
6.05

 

 
 

 
 

Return on Investment (ROI)

(PBT/Networth)

 
0.28

0.41
0.36

 

 
 

 
 

Debt Equity Ratio

(Total Liability/Networth)

 
4.00

4.54
4.94

 

 
 

 
 

Current Ratio

(Current Asset/Current Liability)

 
1.14

1.10
1.06

 

 

LOCAL AGENCY FURTHER INFORMATION

 

 

Sr. No.

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 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

Yes

19]

Payments terms

Yes

20]

Export / Import details (if applicable)

Yes

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

Yes

33]

Voter ID No of Proprietor/Partner/Director, if available

No

34]

External Agency Rating, if available

No

 

Note:-

 

The Registered Office of the company has been shifted from M-38, Chittaranjan Park Basement, New Delhi – 110 019, Delhi, India to the present address w. e. f. 01.09.2008

 

TRADE REFERENCE

 

·         Usha India Limited, Faridabad, India

·         Jay Bharat Maruti Limited, Gurgaon, India

·         Escorts Limited, Faridabad, India

 

FIXED ASSTES

 

  • Plant and Machinery
  • Electrical Equipments
  • Office Equipments
  • Computers
  • Furniture and Fixtures
  • Vehicles : Cars
  • Vehicles : Others
  • Land
  • Building

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.53.85

UK Pound

1

Rs.82.26

Euro

1

Rs.71.72

 

 

INFORMATION DETAILS

 

Information Gathered by :

PLK

 

 

Report Prepared by :

NID

 

 

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

-

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.