MIRA INFORM REPORT

 

 

Report No. :

329586

Report Date :

03.07.2015

 

IDENTIFICATION DETAILS

 

Name :

TGL ENTERPRISES PRIVATE LIMITED

 

 

Registered Office :

35, Govind Mohalla, Haiderpur, Delhi – 110088

Tel. No.:

91-11-27890456

 

 

Country :

India

 

 

Financials (as on) :

31.03.2014

 

 

Date of Incorporation :

12.12.2001

 

 

Com. Reg. No.:

55-113437

 

 

Capital Investment / Paid-up Capital :

Rs.4.100 Million

 

 

CIN No.:

[Company Identification No.]

U29303DL2001PTC113437

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

DELT09287F

 

 

PAN No.:

[Permanent Account No.]

AABCT5578L

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trading and Manufacturing of electrical switchgear and accessories.

 

 

No. of Employees :

20 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (29)

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company incorporated during the year 2001. It is engaged in the business of trading of electrical switch gear and accessories. It has a moderate track record.

 

In view of balance sheet profile of year 2014, the company has moderate financial risk profile marked by modest net worth position and huge borrowings taken by the company.

 

Trade relations are reported as fair. Business is active. Payment terms are slow but correct.

 

In view of leverage balance sheet profile, company can be considered for business dealings with some cautions.

 

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 31, 2015

 

Country Name

Previous Rating

(31.12.2014)

Current Rating

(31.03.2015)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

EXTERNAL AGENCY RATING

 

Rating Agency Name

Not Available

Rating

Not Available

Rating Explanation

Not Available

Date

Not Available

 

 

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 31-03-2013.

 

 

INFORMATION PARTED BY

 

Name :

Mr. Ashutosh Goel

Designation :

Director

Contact No.:

91-9350830840

Date :

01.07.2015

 

 

LOCATIONS

 

Registered Office / Warehouse :

35, Govind Mohalla, Haiderpur, Delhi – 110088, India

Tel. No.:

91-11-27890456

Mobile No.:

91-9350830840 (Mr. Ashutosh Goel)

Fax No.:

91-11-27872657

E-Mail :

info@bplkits.com

goelashutosh@yahoo.com

tglepl@gmail.com

fcasunil@gmail.com

Website :

www.bplkits.com

Area :

2500 sq.ft.

Location :

Owned

Locality :

Commercial

 

 

Corporate Office/ Factory  :

N-11, Bawana Industrial Estate, Delhi – 110039, India

Area :

965 sq. ft.

Location :

Owned

Locality :

Industrial

 

 

DIRECTORS

 

As on 30.09.2014

 

Name :

Mrs. Bimla Goel

Designation :

Director

Address :

BJ-136, Shalimar Bagh (West), Delhi – 110088, India

Date of Birth/Age :

08.07.1953

Date of Appointment :

12.12.2001

DIN No. :

00499861

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U29303DL2001PTC113437

TGL ENTERPRISES PRIVATE LIMITED

Director

12/12/2001

12/12/2001

-

Active

NO

2

U36912DL2010PTC199287

AEW INFRATECH PRIVATE LIMITED

Director

19/02/2010

19/02/2010

-

Active

NO

3

U31900DL2011PTC220430

ALLIED ENGINEERING WORKS PRIVATE LIMITED

Director

29/06/2011

29/06/2011

-

Active

NO

 

 

Name :

Mr. Ashutosh Goel

Designation :

Director

Address :

BJ-136, Shalimar Bagh (West), Delhi – 110088, India

Date of Birth/Age :

11.07.1979

Date of Appointment :

12.12.2001

DIN No. :

00499875

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U29303DL2001PTC113437

TGL ENTERPRISES PRIVATE LIMITED

Director

12/12/2001

12/12/2001

-

Active

NO

2

U36912DL2010PTC199287

AEW INFRATECH PRIVATE LIMITED

Director

19/02/2010

19/02/2010

-

Active

NO

3

U72200KA2009PTC048933

GEOVAS TECHNOLOGIES PRIVATE LIMITED

Director

01/04/2011

01/04/2011

-

Active

NO

4

U31900DL2011PTC220430

ALLIED ENGINEERING WORKS PRIVATE LIMITED

Director

07/06/2011

07/06/2011

-

Active

NO

5

U31909DL2011PTC221014

MASS POWERTECH PRIVATE LIMITED

Director

16/06/2011

16/06/2011

20/06/2011

Active

NO

 

 

Name :

Mr. Vipul Gupta

Designation :

Director

Address :

B-118, Phase-I, Ashok Vihar, Delhi – 110052, India

Date of Birth/Age :

01.02.1974

Date of Appointment :

01.06.2011

DIN No. :

03529058

Other Directorship:

S.No.

CIN/LLPIN

Name of the Company/ LLP

Current designation of the Director/ Designated Partner

Date of appointment at current designation

Original date of appointment

Date of cessation

Company/ LLP Status

Defaulting status

1

U29303DL2001PTC113437

TGL ENTERPRISES PRIVATE LIMITED

Director

01/06/2011

01/06/2011

-

Active

NO

2

U31909DL2011PTC221014

MASS POWERTECH PRIVATE LIMITED

Director

16/06/2011

16/06/2011

-

Active

NO

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2014

 

Names of Shareholders

No. of Shares

%age holding

Ashutosh Goel

105000

25.61

Bimla Goel

105000

25.61

Rajinder Prasad Goel

100000

24.39

Vipul Gupta

100000

24.39

Total

410000

100.00

 

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2014

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Trading and Manufacturing of electrical switchgear and accessories.

 

 

Products :
  • Pitch Connector
  • Resistor network
  • RCA adapter
  • Crystal Oscillator
  • Laminated Core
  • Filter Inductor

 

 

Brand Names :

Not Divulged

 

 

Agencies Held :

Not Divulged

 

 

Exports :

Not Divulged

 

 

Imports :

Not Divulged

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

PRODUCTION STATUS NOT AVAILABLE

 

 

GENERAL INFORMATION

 

Suppliers :
  • Aashirwad Traders
  • Aggarwal Pipes India
  • Andhra Lighting
  • APPOORV Bansal
  • Ashish Globotech
  • Ashoka Electricals
  • Balaji Control
  • Vashanv Electric Company
  • Union Roadways Corporation
  • Sond Impex
  • Prem Electric Company

 

 

Customers :

Reference :

L and D Construction

Name of the Person :

Not Divulged

Contact No.:

Not Divulged

Since How Long Known :

Not Divulged

Maximum Limit Dealt :

Not Divulged

Experience :

Not Divulged

Remark:

Not Divulged

 

 

No. of Employees :

20 (Approximately)

 

 

Bankers :

Bank Name

State Bank of Hyderabad

Branch

·         Al Block, DDA Complex, Shalimar Bagh, Delhi - 110052, India

 

Person Name (With Designation)

Not Divulged

Contact Number

Not Divulged

Name of Account Holder

Not Divulged

Account Number

Not Divulged

Account Since (Date/Year of Account Opening)

Not Divulged

Average Balance Maintained (If Possible)

Not Divulged

Credit Facilities Enjoyed (If any)

Cash Credit = Rs. 15.000 Million

Account Operation

Not Divulged

Remarks (If any)

Not Divulged

 

 

Facilities :

Secured Loan

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Loans from Banks

State Bank of Hyderabad (C/C)

30.589

14.329

 

 

 

Total

30.589

14.329

 

Auditors :

 

Name :

Manoj Sharma and Company

Chartered Accountants

Address :

No. 303, Aggarwal Chamber, Sector – 5, Rohini, Delhi – 110085, India

Tel. No.:

91-11-27048808,7836868808

PAN N Income-tax PAN of auditor or auditor's firm :

AAZFM3315K

 

 

Memberships :

Not Available

 

 

Collaborators :

Not Available

 

 

Related Parties :
  • AEW Infratech Private Limited
  • Mass Powertech Private Limited
  • Gupta Engineering
  • Allied Engineering Works (A unit of AEW) Infratech Private Limited

 

 

 

CAPITAL STRUCTURE

 

As on 30.09.2014

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

2000000

Equity Shares

Rs.10/- each

Rs.20.000 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

410000

Equity Shares

Rs.10/- each

Rs.4.100 Million

 

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Million]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

31.03.2014

31.03.2013

31.03.2012

 

 

 

 

I.              EQUITY AND LIABILITIES

 

 

 

(1)Shareholders' Funds

 

 

 

(a) Share Capital

4.100

4.100

4.100

(b) Reserves & Surplus

5.521

3.673

2.769

(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)

9.621

7.773

6.869

 

 

 

 

(3) Non-Current Liabilities

 

 

 

(a) long-term borrowings

13.417

9.387

10.194

(b) Deferred tax liabilities (Net)

0.000

0.000

0.000

(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)

13.417

9.387

10.194

 

 

 

 

(4) Current Liabilities

 

 

 

(a) Short term borrowings

32.843

14.810

9.048

(b) Trade payables

95.984

51.805

42.403

(c) Other current liabilities

6.667

4.112

1.744

(d) Short-term provisions

0.355

0.425

0.439

Total Current Liabilities (4)

135.849

71.152

53.634

 

 

 

 

TOTAL

158.887

88.312

70.697

 

 

 

 

II.          ASSETS

 

 

 

(1) Non-current assets

 

 

 

(a) Fixed Assets

 

 

 

(i) Tangible assets

0.354

0.469

0.628

(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)

0.119

0.068

0.026

(d)  Long-term Loan and Advances

0.128

0.293

0.412

(e) Other Non-current assets

 

 

 

Total Non-Current Assets

0.601

0.830

1.066

 

 

 

 

(2) Current assets

 

 

 

(a) Current investments

 

 

 

(b) Inventories

13.881

3.187

4.624

(c) Trade receivables

124.334

62.363

54.417

(d) Cash and cash equivalents

7.323

10.025

0.212

(e) Short-term loans and advances

12.748

11.907

10.378

(f) Other current assets

0.000

0.000

0.000

Total Current Assets

158.286

87.482

69.631

 

 

 

 

TOTAL

158.887

88.312

70.697

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2014

31.03.2013

31.03.2012

 

SALES

 

 

 

 

Income

 

115.790

126.636

 

Other Income

 

0.334

0.275

 

TOTAL

N.A

116.124

126.911

 

 

 

 

 

Less

EXPENSES

 

 

 

 

TOTAL

N.A

112.553

122.517

 

 

 

 

 

Less

PROFIT/ (LOSS)  BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

N.A

3.571

4.394

 

 

 

 

 

Less

FINANCIAL EXPENSES

 N.A

2.125

2.875

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

N.A

1.446

1.519

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION

 N.A

0.160

0.215

 

 

 

 

 

 

PROFIT/ (LOSS)  BEFORE TAX

2.674

1.286

1.304

 

 

 

 

 

Less

TAX

0.826

0.382

0.411

 

 

 

 

 

 

PROFIT/ (LOSS)  AFTER TAX 

1.848

0.904

0.893

 

 

Particulars

 

 

 

31.03.2015

Sales Turnover

 

 

120.000

(Due to Market Fluctuation)

 

 

 

 

 

The above information has been parted by Mr. Ashutosh Goel (Director)

 

 

CURRENT MATURITIES OF LONG TERM DEBT DETAILS

 

Particulars

 

31.03.2014

31.03.2013

31.03.2012

Current Maturities of Long term debt

N.A

N.A

N.A

Cash generated from operations

N.A

N.A

N.A

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2014

31.03.2013

31.03.2012

Net Profit Margin

(PAT / Sales)

(%)

N.A

0.78

0.71

 

 

 

 

 

Operating Profit Margin

(PBIDT/Sales)

(%)

N.A

3.08

3.47

 

 

 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)

1.68

1.46

1.85

 

 

 

 

 

Return on Investment (ROI)

(PBT/Networth)

 

0.28

0.17

0.19

 

 

 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 

4.81

3.11

2.80

 

 

 

 

 

Current Ratio

(Current Asset/Current Liability)

 

1.17

1.23

1.30

 

 

FINANCIAL ANALYSIS

[all figures are in Rupees Million]

 

DEBT EQUITY RATIO

 

Particular

31.03.2012

31.03.2013

31.03.2014

 

(Rs. In Million)

(Rs. In Million)

(Rs. In Million)

Share Capital

4.100

4.100

4.100

Reserves & Surplus

2.769

3.673

5.521

Net worth

6.869

7.773

9.621

 

 

 

 

long-term borrowings

10.194

9.387

13.417

Short term borrowings

9.048

14.810

32.843

Total borrowings

19.242

24.197

46.260

Debt/Equity ratio

2.801

3.113

4.808

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Sr. No.

Check list by info agents

Available in Report (Yes/No)

1

Year of establishment

Yes

2

Constitution of the entity -Incorporation details

Yes

3

Locality of the entity

Yes

4

Premises details

Yes

5

Buyer visit details

--

6

Contact numbers

Yes

7

Name of the person contacted

Yes

8

Designation of contact person

Yes

9

Promoter’s background

Yes

10

Date of Birth of Proprietor / Partners / Directors

Yes

11

Pan Card No. of Proprietor / Partners

No

12

Voter Id Card No. of Proprietor / Partners

No

13

Type of business

Yes

14

Line of Business

Yes

15

Export/import details (if applicable)

No

16

No. of employees

Yes

17

Details of sister concerns

Yes

18

Major suppliers

Yes

19

Major customers

Yes

20

Banking Details

Yes

21

Banking facility details

Yes

22

Conduct of the banking account

--

23

Financials, if provided

Yes

24

Capital in the business

Yes

25

Last accounts filed at ROC, if applicable

Yes

26

Turnover of firm for last two years

Yes

27

Reasons for variation <> 20%

--

28

Estimation for coming financial year

No

29

Profitability for last three years

Yes

30

Major shareholders, if available

Yes

31

External Agency Rating, if available

No

32

Litigations that the firm/promoter involved in

--

33

Market information

--

34

Payments terms

Yes

35

Negative Reporting by Auditors in the Annual Report

No

 

NOTE: Registered office of the company has been shifted from 9 Govind Mohallahaiderpur Delhi – 110088, India to the present address w.e.f. 15.06.2007

 

UNSECURED LOAN

PARTICULARS

31.03.2014

(Rs. in Million)

31.03.2013

(Rs. in Million)

Long-term Borrowings

 

 

Loans from Directors

9.501

2.451

Loans from Others

3.916

6.936

Short-term borrowings

 

 

Advance from Customer

2.254

0.480

 

 

 

Total

15.671

9.867

 

 

INDEX OF CHARGES

 

S.No.

Charge ID

Date of Charge Creation/Modification

Charge amount secured

Charge Holder

Address

Service Request Number (SRN)

1

10231883

14/02/2011 *

20,000,000.00

State Bank of Hyderabad

A L Market Complex, Shalimar Bagh, Delhi - 110088, INDIA

B07624026

 

 

FIXED ASSETS

Tangible Assets

·         Plant and Machinery

·         Car (Honda City)

 

 

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.63.57

UK Pound

1

Rs.99.20

Euro

1

Rs.70.35

 

 

INFORMATION DETAILS

 

Information Gathered by :

NYA

 

 

Analysis Done by :

TRI

 

 

Report Prepared by :

RKI

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

3

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILITY

1~10

4

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--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

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

29

 

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

 

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