MIRA INFORM REPORT

 

IDENTIFICATION DETAILS

 

Name :

CYGNUS EQUIPMENTS AND RENTALS PRIVATE LIMITED (w.e.f. 16.01.2013)

 

 

Formerly Known As :

CYGNUS EQUIPMENTS AND RENTALS LIMITED (w.e.f. 12.06.2012)

 

CYGNUS EQUIPMENTS AND RENTALS PRIVATE LIMITED

 

 

Country :

India

 

 

Financials (as on) :

31.03.2013

 

 

Legal Form :

Private Limited Liability Company

 

 

No. of Employees :

Information denied by management

 

 

BUSINESS DETAILS

 

Line of Business :

Trader and Service provider of rental of putzmeister concrete pumps

 

 

GENERAL INFORMATION

 

Customers :

·         PREMCO

·         Balajee

·         Bajaj Infrastructure Development Company Limited

·         L and T

·         Lafarge

·         Aditya Birla

·         Simplex Infrastructure Limited

 

 

No. of Employees :

Information denied by management

 

 

Bankers :

·         Kotak Mahindra Bank Limited, 36-38A, Nariman Bhavan, 227, D, Nariman Point, Mumbai-400021, Maharashtra, India

·         Bank of Baroda, Parliament Street Branch, New Delhi-110001, India 

 

 

Facilities :

SECURED LOANS

31.03.2013

Rs. In Millions

31.03.2012

Rs. In Millions

Long Term Borrowings

 

 

Term loan from bank

 

 

Equipment loan

82.381

87.870

Vehicle loan

6.128

7.634

From financial institutions

 

 

Equipment loan

100.007

110.574

Vehicle loan

0.608

1.179

Short Term Borrowings

 

 

Loans repayable on demand

29.012

24.784

Working capital loans from bank

1.200

1.230

Total

219.336

233.271

 

 

UNSECURED LOANS

31.03.2013

Rs. In Millions

31.03.2012

Rs. In Millions

Short Term Borrowings

 

 

Loan against term deposit from bank 

 

 

Loans and advances from related parties

37.650

2.200

From parties other than bank

0.000

3.100

Total

37.650

5.300

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Jain and Shah

Chartered Accountant

Address :

11J, Kabitirtha Sarani, Kolkata-700023, West Bengal, India

PAN No.:

AADFJ3178R

 

 

MAJOR SHAREHOLDERS

 

As on 30.09.2013

 

SHAREHOLDING DETAILS FILE ATTACHED 

 

 

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

12.123

12.123

5.000

(b) Reserves & Surplus

99.524

95.198

2.650

(c) Money received against share warrants

0.000

0.000

0.000

 

 

 

 

(2) Share Application money pending allotment

23.500

0.000

21.500

Total Shareholders’ Funds (1) + (2)

135.147

107.321

29.150

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

189.124

207.257

85.630

(b) Deferred tax liabilities (Net)

7.717

5.875

1.316

(c) Other long term liabilities

0.000

0.000

0.000

(d) long-term provisions

0.000

0.000

0.000

Total Non-current Liabilities (3)

196.841

213.132

86.946

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

67.862

31.314

21.544

(b) Trade payables

7.168

5.634

1.419

(c) Other current liabilities

144.192

102.473

45.240

(d) Short-term provisions

3.935

3.316

0.712

Total Current Liabilities (4)

223.157

142.737

68.915

 

 

 

 

TOTAL

555.145

463.190

185.011

 

 

 

 

II.      ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

410.965

377.619

126.461

(ii) Intangible Assets

0.828

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

9.500

0.000

0.000

(c) Deferred tax assets (net)

0.000

0.000

0.000

(d)  Long-term Loan and Advances

11.550

10.873

1.772

(e) Other Non-current assets

0.000

0.000

0.000

Total Non-Current Assets

432.843

388.492

128.233

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

0.389

0.389

0.000

(b) Inventories

17.858

0.000

0.000

(c) Trade receivables

76.399

37.092

18.661

(d) Cash and cash equivalents

2.727

3.175

2.840

(e) Short-term loans and advances

24.685

33.923

35.074

(f) Other current assets

0.244

0.119

0.203

Total Current Assets

122.302

74.698

56.778

 

 

 

 

TOTAL

555.145

463.190

185.011

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2013

31.03.2012

31.03.2011

 

SALES

 

 

 

 

 

Income

219.961

174.179

88.211

 

 

Other Income

0.339

0.165

0.007

 

 

TOTAL                                         (A)

220.300

174.344

88.218

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Purchase of Traded Goods

0.000

5.524

 

 

Employee Benefits Expenses

 

19.117

7.414

 

 

Other Expenses

 

73.920

51.537

 

 

TOTAL                                         (B)

213.980

93.037

64.475

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B)      (C)

(including finance and depreciation expenses)

81.307

23.743

 

 

 

 

 

Less

FINANCIAL EXPENSES                         (D)

 

32.166

10.036

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D)                                (E)

 

49.141

13.707

 

 

 

 

 

Less

DEPRECIATION/ AMORTISATION                     (F)

 

34.812

10.564

 

 

 

 

 

 

PROFIT/(LOSS) BEFORE TAX (E-F)                   (G)     

6.320

14.329

3.143

 

 

 

 

 

Less

TAX                                                                  (H)

1.994

4.559

1.062

 

 

 

 

 

 

PROFIT/(LOSS) AFTER TAX (G-H)                    (I)

4.326

9.770

2.081

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

12.420

2.650

0.569

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

16.746

12.420

2.650

 

 

 

 

 

 

Earnings Per Share (Rs.)

3.57

8.06

4.17

 

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

 

Status :

Satisfactory

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

RBI DEFAILTERS’ LIST STATUS

 

Subject’s name is not enlisted as a defaulter in the publicly available RBI Defaulters’ list.

 

 

LOCATIONS

 

Registered Office / Head Office :

51, Nalini Seth Road, 6th Floor, Kolkata -700007, West Bengal, India

Tel. No.:

91-33-23452535

Fax No.:

91-33-23452536

E-Mail :

accounts@cygnusgroup.in

Website :

www.cygnusequipments.com

 

 

Corporate Office :

A-44, 45, DLF IT Park, Tower C, Ground Floor, Sector 62, Noida - 201309, Uttar Pradesh, India

Tel. No.:

91-120-4311219 / 2405945 / 946

E-Mail :

info@cygnusequipments.com

 

 

Gurgaon Office :

Mahindra Singh Compound, Sarhaul, Sector 18, Gurgaon - 122001, Haryana, India

 

 

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.