MIRA INFORM REPORT
PRELIMINARY REPORT
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Report Date : |
13.11.2013 |
IDENTIFICATION DETAILS
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Name : |
MECTECH PROCESS ENGINEERS PRIVATE LIMITED |
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Registered
Office : |
708, Shakuntla Apartments, 59, |
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Country : |
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Financials (as
on) : |
31.03.2009 |
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Date of
Incorporation : |
22.04.1983 |
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Com. Reg. No.: |
015592 |
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CIN No.: [Company Identification
No.] |
U74899DL1983PTC015592 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELM09400G |
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PAN No.: [Permanent Account No.] |
AAACM2302E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of
Water Treatment Plants and Chemical Plants Machinery. |
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 – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
Note – Management Non-Cooperative Name Not Disclosed.
LOCATIONS
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Registered Office : |
708, Shakuntla Apartments, 59, |
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Tel. No.: |
91-11-41607186 |
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Fax No.: |
91-11-41607318 |
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E-Mail : |
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Website : |
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Corporate Office : |
366, Phase-II, Udyog Vihar, Gurgaon – 122016, |
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Tel. No.: |
91-124-4700800 |
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Fax No.: |
91-124-4700801/02 |
DIRECTORS
AS ON 21.09.2009
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Name : |
MR. Ishwar Sahai |
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Designation : |
Director |
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Address : |
G-118, Saket, |
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Date of Birth/Age : |
14.04.1946 |
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Date of Appointment : |
26.04.1983 |
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Name : |
Mr. Neera Sahai |
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Designation : |
Director |
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Address : |
G-118, Saket, |
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Date of Birth/Age : |
08.10.1951 |
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Date of Appointment : |
26.04.1983 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 21.09.2009
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Names of Shareholders |
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No. of Shares |
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Ishwar Sahai |
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32001 |
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Neera Sahai |
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10711 |
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Ankur Sahai |
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6200 |
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Ishwar Sahai (HUF) |
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16700 |
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Total |
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65612 |
AS ON 21.09.2009
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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100.00 |
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Total
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of
Water Treatment Plants and Chemical Plants Machinery. |
GENERAL INFORMATION
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Bankers : |
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Facilities : |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
R C Kapoor and Associates Chartered Accountant |
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Address : |
Y-14B, First Floor, Green Park Main, |
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Tel. No.: |
91-11-46021716 |
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Fax No.: |
91-11-26853854 |
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E-Mail : |
Rckapoor15@yahoo.co.in |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
As on 31.03.2009
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs.10/- each |
Rs. 5.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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65612 |
Equity Shares |
Rs.10/- each |
Rs. 0.656 Million |
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Note – of these 2988 equity shares of Rs. 10/- each
have allotted as fully paid-up in pursuant to an agreement without payment
being received in each
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.656 |
0.656 |
0.656 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
16.255 |
9.539 |
7.884 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
16.911 |
10.195 |
8.540 |
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LOAN FUNDS |
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1] Secured Loans |
3.683 |
1.666 |
2.674 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
3.683 |
1.666 |
2.674 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
20.594 |
11.861 |
11.214 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
23.583 |
15.180 |
4.688 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.112 |
0.612 |
0.612 |
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DEFERREX TAX ASSETS |
0.066 |
0.129 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
28.986
|
7.052 |
7.531 |
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Sundry Debtors |
33.525
|
14.584 |
27.686 |
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Cash & Bank Balances |
54.908
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36.553 |
20.019 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
31.561
|
13.228 |
6.038 |
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Total
Current Assets |
148.980
|
71.417 |
61.274 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
36.338
|
5.946 |
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Other Current Liabilities |
109.799
|
66.932 |
53.839 |
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Provisions |
6.010
|
2.599 |
1.521 |
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Total
Current Liabilities |
152.147
|
75.477 |
55.360 |
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Net Current Assets |
(3.167)
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(4.060) |
5.914 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
20.594 |
11.861 |
11.214 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SALES |
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Income |
454.137 |
126.037 |
123.090 |
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Other Income |
NA |
0.981 |
NA |
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TOTAL (A) |
454.137 |
127.018 |
123.090 |
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Less |
EXPENSES |
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Personnel Expenses |
NA |
5.006 |
NA |
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Operating and Administrative Expenses |
NA |
124.784 |
NA |
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Increase /(Decrease) in Stock |
NA |
(7.052) |
NA |
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TOTAL (B) |
NA |
122.738 |
NA |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
NA |
4.280 |
NA |
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Less |
FINANCIAL
EXPENSES (D) |
NA |
0.172 |
NA |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
NA |
4.108 |
NA |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
1.428 |
NA |
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PROFIT BEFORE TAX
(E-F) (G) |
10.189 |
2.680 |
1.276 |
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Less |
TAX (I) |
3.474 |
1.022 |
NA |
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PROFIT AFTER TAX
(G-I) (J) |
6.715 |
1.658 |
NA |
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KEY RATIOS
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PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
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PAT / Total Income |
(%) |
1.47
|
1.30 |
- |
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Net Profit Margin (PBT/Sales) |
(%) |
2.24
|
2.12 |
1.03 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
5.90
|
3.09 |
1.93 |
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Return on Investment (ROI) (PBT/Networth) |
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0.60
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0.26 |
0.14 |
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Debt Equity Ratio (Total Liability/Networth) |
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9.21
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7.56 |
6.79 |
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Current Ratio (Current Asset/Current Liability) |
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0.97
|
0.94 |
1.10 |
LOCAL AGENCY FURTHER INFORMATION
Note – The Registered
office address of the company has been shifted from 704-705, Shakuntala
Apartments, 59, Nehru Place, New Delhi, India to present address w.e.f.
25.03.2008
Business
For the year ended 31.03.2009, the company’s
total sales increased to Rs. 454.137 Millions over previous year’s Rs. 126.037
Millions.
The net profit of the company for the year
increased to Rs. 6.715 millions as against Rs. 1.654 millions in the previous year.
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.63.59 |
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|
1 |
Rs.101.56 |
|
Euro |
1 |
Rs.85.15 |
INFORMATION DETAILS
|
Report Prepared
by : |
VRN |
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 |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.