.
MIRA
INFORM REPORT
|
Report Date : |
29.01.2014 |
IDENTIFICATION DETAILS
|
Name : |
CHILTON REFRIGERATION PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2013 |
|
|
|
|
Date of
Incorporation : |
27.11.1990 |
|
|
|
|
Com. Reg. No.: |
09-005871 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.1.022 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29191KL1990PTC005871 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
CHNC01185C |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Manufacturer of refrigeration and air conditioning equipment plant,
etc. |
|
|
|
|
No. of Employees
: |
60 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 39000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow But Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track record. Profitability of the company appears to be fair. Trade relations are reported as fair. Business as active. Payments are
reported to be slow but correct. The company can be considered 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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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’s current account
deficit narrowed in the quarter ended September as government measures to curb
imports, especially gold, kicked in. The current account deficit, the
excess of a country’s imports of goods and services over exports, narrowed to $
5.2 billion from $ 21 billion in the year ago period, according to provisional
Reserve Bank of India data. Finance Minister P. Chidambaram said the CAD for
the year will be less than $ 60 billion or 3 per cent of GDP and the latest
data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services
sector activity witnessed a moderate improvement in November over the previous
month, even while indicating the fifth successive monthly contraction,
according the HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third quarter,
according to a study by RSA. India ranks fourth in the list of nations hit by
phishing attacks. The US remained at the top of the charts. Phishing is the
process of acquiring information such as user names, passwords and credit card
details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
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. Hari |
|
Designation : |
Finance Manager |
|
Contact No.: |
91-9846312125 |
|
Date : |
23.01.2014 |
LOCATIONS
|
Registered Office : |
38/114 Clanand Lane, M G Road, Ernakulam – 682011, Kerala, India |
|
Tel. No.: |
91-484-2544570 |
|
Mobile No.: |
91-9846312125 (Mr. Hari) |
|
Fax No.: |
91-484-2544572 |
|
E-Mail : |
|
|
Area: |
500 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Show Room / Marketing Office : |
Chilton Tower, National Highway, Edappally P.O., Ernakulam, Kochi –
682024, Kerala, India |
|
Tel. No.: |
91-484-2544570/ 2544571 |
|
Fax No.: |
91-484-544572 |
|
E-Mail : |
|
|
|
|
|
Factory : |
VI/78E, Industrial Development Area, Edayar Binanipuram. P.O.,
Ernakulam, Kochi – 683502, Kerala, India |
|
Tel. No.: |
91-484-2558268/ 2551978 |
|
Fax No.: |
91-484-2532122 |
|
E-Mail : |
|
|
|
|
|
Branch Office 1 : |
Chilton Towers, NH-47, Koonamthai, Edappally Toll, Ernakulam, Kochi –
682024, Kerala, India |
|
Tel. No : |
91-484-2544570/ 2544571 |
|
Fax No.: |
91-484-2544572 |
|
E-Mail : |
|
|
|
|
|
Branch Office 2 : |
No.652 J, Dr. Rajkumar Road, IInd Stage D Block, Rajajinagar – 560010,
Bangalore, India |
DIRECTORS
AS ON 30.09.2013
|
Name : |
Mr. Pappali Gopalan Chilprakash |
|
Designation : |
Managing Director |
|
Address : |
Chilton Villa, Yamuna Nagar, Changampuzha Nagar, South Kalamassery, Ernakulam
- 682033, Kerala, India |
|
Date of Birth/Age : |
20.08.1954 |
|
Date of Appointment : |
27.11.1990 |
|
DIN No : |
01827862 |
|
|
|
|
Name : |
Ms. Reena Chil Prakash |
|
Designation : |
Whole Time Director |
|
Address : |
111/565, Yamuna Nagar, Kalamassery, Ernakulam-682033, Kerala, India |
|
Date of Birth/Age : |
06.04.1963 |
|
Date of Appointment : |
27.11.1990 |
|
DIN No : |
01776904 |
KEY EXECUTIVES
|
Name : |
Mr. Hari |
|
Designation : |
Finance Manager |
|
Name : |
BVR and Associates |
|
Designation : |
Company Secretaries |
|
Address : |
“Swastika”, 32/1726, 1st Floor, Rahul Mon Road, Off
Kalavanth Road, Palarivattom, Cochin – 682025, Kerala, India |
|
Tel. No.: |
91-484-4046696 |
|
Mobile No.: |
91-9895630786 |
|
Email : |
MAJOR SHAREHOLDERS
AS ON 30.09.2013
|
Names of Shareholders |
No. of Shares |
|
Pappali Gopalan Chilprakash |
611 |
|
Reena Chil Prakash |
411 |
|
|
|
|
Total |
1022 |
AS ON 30.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
|
|
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of refrigeration and air conditioning equipment plant,
etc. |
|
|
|
|
Products : |
·
Industrial Process Chiller (Acid/ Brine/ Glycol/
Hydraulic oil/ Water) ·
Minus 80 and 40 Degee Ultra Low Deep Freezer ·
Blood Bag Refrigerator ·
Chillverter ·
Veg Cool |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
No. of Employees : |
60 (Approximately) |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
·
Catholic Syrain Bank Limited, M.G. Road,
Ernakulam – 682035, Kerala, India |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
OD – Rs. 6.000 Millions (From Catholic Syrain Bank Limited) TL – Rs. 3.000 Millions (From Catholic Syrain Bank Limited) CC – Rs. 1.000 Million (From Catholic Syrain Bank Limited)
|
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
R Krishna Iyer and Company Chartered Accountant |
|
Address : |
134, Jyothy, Panampilly Nagar, Cochin – 682036, Kerala, India |
|
Tel. No.: |
91-484-2314426 / 2316734 |
|
Fax No.: |
91-484-2318159 |
|
PAN No: |
AACFR9567R |
CAPITAL STRUCTURE
AS ON 30.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2400 |
Equity Shares |
Rs.1000/- each |
Rs.2.400 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1022 |
Equity Share |
Rs.1000/- each |
Rs.1.022 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
1.022 |
1.022 |
1.022 |
|
(b) Reserves & Surplus |
8.701 |
4.589 |
4.204 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total Shareholders’
Funds (1) + (2) |
9.723 |
5.611 |
5.226 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
0.587 |
0.587 |
3.107 |
|
(b) Deferred tax liabilities (Net) |
0.122 |
0.122 |
0.140 |
|
(c) Other long term liabilities |
2.757 |
2.757 |
0.000 |
|
(d) long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current Liabilities (3) |
3.466 |
3.466 |
3.247 |
|
|
|
|
|
|
(4) Current Liabilities |
|
|
|
|
(a) Short
term borrowings |
1.735 |
5.790 |
4.864 |
|
(b) Trade
payables |
5.944 |
4.801 |
4.689 |
|
(c) Other
current liabilities |
0.999 |
1.011 |
0.349 |
|
(d) Short-term provisions |
1.527 |
1.528 |
1.260 |
|
Total Current
Liabilities (4) |
10.205 |
13.130 |
11.162 |
|
|
|
|
|
|
TOTAL |
23.394 |
22.207 |
19.635 |
|
|
|
|
|
|
I.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a) Fixed
Assets |
|
|
|
|
(i)
Tangible assets |
4.123 |
4.752 |
3.914 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under
development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets (net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan and Advances |
0.000 |
0.000 |
0.000 |
|
(e) Other Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
4.123 |
4.752 |
3.914 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b) Inventories |
9.146 |
6.577 |
6.593 |
|
(c) Trade
receivables |
3.781 |
5.090 |
3.492 |
|
(d) Cash
and cash equivalents |
1.177 |
0.747 |
0.518 |
|
(e)
Short-term loans and advances |
3.970 |
3.480 |
3.557 |
|
(f) Other
current assets |
1.197 |
1.561 |
1.561 |
|
Total Current Assets |
19.271 |
17.455 |
15.721 |
|
|
|
|
|
|
TOTAL |
23.394 |
22.207 |
19.635 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
|
|
|
|
GROSS INCOME |
43.120 |
30.778 |
33.582 |
|
|
|
|
|
|
|
|
|
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Expenses |
NA |
NA |
NA |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA
|
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
38.201 |
29.494 |
32.119 |
|
|
|
|
|
|
|
|
|
|
DEPRECIATION/
AMORTISATION |
0.808 |
0.693 |
31.835 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
4.112 |
0.592 |
0.284 |
|
|
|
|
|
|
|
|
|
|
TAX |
0.174 |
0.207 |
0.100 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
3.938 |
0.385 |
0.184 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.1000/-) |
3853.22 |
376.71 |
180.04 |
|
Expected Sales (2013-2014): Rs.50.000 Millions
The above information has been parted by – Mr. Hari (Finance manager)
KEY RATIOS
|
PARTICULARS |
|
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.57
|
2.66
|
1.45
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.42
|
0.11
|
0.05
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.24
|
1.13
|
1.53
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.88
|
1.32
|
1.41
|
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 |
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 |
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 |
VIEW INDEX PF
CHARGES
|
S.No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount
secured |
Charge Holder |
Address |
Service Request
Number (SRN) |
|
1 |
80045492 |
17/02/2004 |
2,000,000.00 |
Catholic Syrian
Bank Limited |
M.G.Road,
Ernakulam, Kerala - 682035, INDIA |
- |
|
2 |
80045490 |
01/02/2012 * |
1,000,000.00 |
CATHOLIC SYRIAN
BANK LTD |
M.G ROAD,,
ERNAKULAM, Kerala - 682035, INDIA |
B32791261 |
|
3 |
80045493 |
17/02/2004 |
2,713,000.00 |
Catholic Syrian
Bank Limited |
M.G.Road,
Ernakulam, Kerala - 682035, INDIA |
- |
|
4 |
90019639 |
17/02/2004 |
500,000.00 |
CATHOLIC SYRIAN
BANK LIMITED |
M.G. ROAD,
ERNAKULAM., Kerala, INDIA |
- |
* Date of charge modification
FIXED ASSETS
·
Factory Building
·
Plant and Machinery
·
Furniture and fitting
·
Computer and Accessories
·
Tools and Equipment
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.62.71 |
|
|
1 |
Rs.103.50 |
|
Euro |
1 |
Rs.85.82 |
INFORMATION DETAILS
|
Information
Gathered by : |
HRI |
|
|
|
|
Report Prepared
by : |
SNT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
43 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.