MIRA
INFORM REPORT
|
Report Date : |
22.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
GRAPAMAR FACADES SYSTEM PRIVATE LIMITED |
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Registered
Office : |
Lok Nirman Towers, A4, 203, 2nd
Floor, Ambedkar Road, Khar (West), Mumbai – 400052, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
10.11.2009 |
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Com. Reg. No.: |
11-197006 |
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Capital
Investment/ Paid-up Capital: |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U74990MH2009PTC197006 |
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PAN No.: [Permanent Account No.] |
AADCG5940K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Importer of Electric Scaffoldings. |
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No. of
Employees: |
20 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (11) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a company which is establishing itself gradually. The
management of the company has not filed its financials with the government departments
after the year 2010. The company has incurred heavy losses during its first
operational year 2010. Business is active. Payments are reported to be unknown. Initially, the company can be considered for business dealings on a
safe and secured 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY (GENERAL DETAILS)
|
Name : |
Ms. Belinda Edalina Velho |
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Designation : |
Director |
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Contact No.: |
91-9920234458 |
|
Date : |
19.07.2013 |
LOCATIONS
|
Registered Office/ Factory : |
Lok Nirman Towers, A4, 203, 2nd
Floor, Ambedkar Road, Khar (West), Mumbai – 400052, Maharashtra, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9920234458 (Ms. Belinda Edalina Velho) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Area : |
4500 Sq. ft. |
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Location : |
Owned |
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Warehouse : |
G-10, Maduram Industries Estate, Near Visawa Hotel, Sativali Road,
Vasai- Thane, Maharashtra, India |
|
Location : |
Owned |
DIRECTORS
As on: 18.01.2011
|
Name : |
Ms. Belinda Edalina Velho |
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Designation : |
Director |
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Address : |
Alif Apartment, Flat No 103, 1st Floor, 34/A, |
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Date of Birth/Age : |
27.04.1963 |
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Qualification : |
Graduate |
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Date of Appointment : |
10.11.2009 |
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DIN No.: |
02809504 |
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Name : |
Narciso Chaparro Navas |
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Designation : |
Director |
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Address : |
Crer Narcis Monturiol 162 BJ1, Vilassar De Mar, |
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Date of Birth/Age : |
12.06.1965 |
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Qualification : |
Graduate |
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Date of Appointment : |
10.11.2009 |
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DIN No.: |
02047567 |
MAJOR SHAREHOLDERS
As on 18.01.2011
|
Names of Shareholders |
|
No. of Shares |
|
Narciso Chaparro Navas |
|
5000 |
|
Juan Rubio |
|
2500 |
|
Juan Fernandez |
|
2500 |
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Total |
|
10000 |
Equity Share Break up (Percentage of Total Equity)
As on: 18.01.2011
|
Category |
|
Percentage |
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|
|
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Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
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Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Importer of Electric Scaffoldings. |
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|
Products : |
·
Dry Cladding / Rain Screen Ventilated Facades ·
Dry Cladding / Rain Ventilated Facades for Marble
·
Dry Cladding / Rain Ventilated Facades for
Granite ·
Dry Cladding / Rain Ventilated Facades for
Natural Stone ·
Dry Cladding / Rain Ventilated Facades for
Sandstone ·
Dry Cladding / Rain Ventilated Facades for
Porcelain Tiles ·
Dry Cladding / Rain Ventilated Facades for
Artificial Stones ·
Anchors for Stone Dry Cladding ·
Anchors for Granite Dry Cladding ·
Dry Claddings ·
Semi-wet Claddings ·
Stone Claddings ·
Granite Claddings ·
Claddings |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL INFORMATION
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No. of Employees : |
20 (Approximately) |
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Bankers : |
HDFC Bank Limited, Khar Branch, Mumbai Maharashtra, India |
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
Umesh Bhatt and Company Chartered Accountants |
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Address : |
201, Rehman House, Nadirsha Sukhia Street, Off Cawasji Patel Street,
Near Mahesh Lunch Home, Mumbai – 400 001, Maharashtra, India |
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Tel. No.: |
91-22-32460681/ 40024897 |
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Mobile No.: |
91-9820624897 |
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E-Mail : |
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PAN No.: |
AACPB9074F |
CAPITAL STRUCTURE
As on 18.01.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
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|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
million |
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|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
0.100 |
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|
2] Share Application Money |
|
|
0.244 |
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|
3] Reserves & Surplus |
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|
0.000 |
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4] (Accumulated Losses) |
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|
(2.807) |
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NETWORTH |
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|
(2.463) |
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|
LOAN FUNDS |
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|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
2.854 |
|
|
TOTAL BORROWING |
|
|
2.854 |
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|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
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|
|
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TOTAL |
|
|
0.391 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
|
0.124 |
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Capital work-in-progress |
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|
0.000 |
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INVESTMENT |
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|
0.000 |
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DEFERREX TAX ASSETS |
|
|
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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|
0.000 |
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Sundry Debtors |
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|
0.000 |
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Cash & Bank Balances |
|
|
0.100 |
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Other Current Assets |
|
|
0.303 |
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Loans & Advances |
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|
0.000 |
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Total
Current Assets |
|
|
0.403 |
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|
Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditor |
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Other Current Liabilities |
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|
|
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|
Provisions |
|
|
0.117 |
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Total
Current Liabilities |
|
|
0.136 |
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Net Current Assets |
|
|
0.267 |
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MISCELLANEOUS EXPENSES |
|
|
0.000 |
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|
|
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TOTAL |
|
|
0.391 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
|
31.03.2010 |
|
|
|
|
|
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NET
LOSS |
|
|
2.807 |
KEY RATIOS
|
PARTICULARS |
|
|
|
31.03.2010 |
|
Debt Equity Ratio (Total Debt/Networth) |
|
|
|
(1.16) |
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Current Ratio (Current Asset/Current Liability) |
|
|
|
2.96 |
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 |
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 |
No |
|
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 |
No |
|
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 |
No |
|
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 |
BUSINESS
OPERAITONS:
First Annual Meeting since incorporation on 10th November
2010, Trading activity was carried out by the company, in the last quarter, and
lot of brochures/ samples were distributed for generation of business. There is
a loss of Rs.2.807 Millions for the period ended 31st March, 2010.
However the Directors are positive that the recession in the Indian as well as
the Global Economy having ended there would be tremendous demand leading to
fruitful business opportunities in the industry.
UNSECURED LOAN:
(Rs. In Millions)
|
Particulars |
As
on 31.03.2010 |
|
Unsecured Loan |
2.854 |
|
|
|
|
Total |
2.854 |
ISSUE OF EQUITY SHARES:
The Foreign Shareholders Mr. Juan Rubio and
Juan Fernandez of ANCLAJES GRAPAMAR, S.L. who subscribed to 50% stake in the
company. With the active participation of the foreign collaborator they expect
the sales to jump substantially.
AS PER WEBSITE DETAILS:
PROFILE
To meet the requirements of Wall Cladding for
a wide range of natural stone, porcelain tiles and glass, they, Subject, have
stepped into the business of Cladding Systems for Ventilated Facades. They are
known as one of the leading manufacturers, exporters and suppliers of a wide
range of Cladding Systems for Ventilated Facades. There exclusive gamut
comprises products like Dry Cladding / Rain Screen Ventilated Facades, Dry
Cladding / Rain Ventilated Facades for Marble, Dry Cladding / Rain Ventilated
Facades for Sandstone, Dry Cladding / Rain Ventilated Facades for Porcelain
Tiles, Dry Cladding / Rain Ventilated Facades for Artificial Stones, Anchors
for Stone Dry Cladding, Anchors for Granite Dry Cladding, Dry Cladding,
Semi-wet Cladding, Stone Cladding, and others. These solutions are energy
saving, efficient, user friendly and require low maintenance.
The ventilated Façade is a construction system
that is used in many parts of North European countries, as it is highly energy
efficient. There company aim at meeting maximum requirements of the clients in
this field by offering highly standard Cladding Options. They take advantage of
consistent research and development combined with sophisticated and modern
facilities to come up with qualitative range. There manufacturing process and
services are internationally acclaimed and they have also received ISO 9001:
2008 and ISO 14001-2004 certifications for the same.
They are an offshoot of the company Grapamar
that was established in Spain in the year 1989. Over the years, it has grown up
to be one of the most trusted and reliable names in this industry. Today,
Grapamar boasts of having completed more than 1000 building projects in Europe
and South America. There are more projects that are in the pipeline. Through
there dedication and persistent performance, they are now aiming to make the
same impact in India as well as the untapped markets in other parts of the
world.
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] 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.59.80 |
|
|
1 |
Rs.91.03 |
|
Euro |
1 |
Rs.78.52 |
INFORMATION DETAILS
|
Information
Gathered by : |
NYA |
|
|
|
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
1 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
1 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
1 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
11 |
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.