MIRA INFORM REPORT
|
Report No. : |
324806 |
|
Report Date : |
28.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
REINFORCED EARTH INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
E-13/B-1 Extension, Mohan Co-Operative Industrial Estate, Mathura
Road, Badarpur, New Delhi - 110044 |
|
Tel. No.: |
91-11-40538630-31 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
01.10.1997 |
|
|
|
|
Com. Reg. No.: |
55-089961 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.500 Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U45203DL1997PTC089961 |
|
|
|
|
IEC No.: |
Not Available |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
DELR05634G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACR7414A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
The Subject is engaged in contract activities related to soil
(earth) reinforcement techniques. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (18) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track record. The management has failed to file its financial record of with
government department since 2012. As per available financial record of 2011, general financial position of
the company seems to be sound. Rating remain constrained on account of absence of latest financial
information to evaluate risk associated with the subject company. As per the status shown in the registrar of companies business appears
to be active. Payments are reported to be unknown. In view of absence of latest financial information, the company can be
considered for business dealings on safe and secured trade term 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 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
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
31-03-2014.
INFORMATION DENIED
|
Name : |
Mr. Chandan |
|
Designation : |
Senior Executive Account |
|
Contact No.: |
91-11-46457618 |
|
Date : |
27.05.2015 |
LOCATIONS
|
Registered Office : |
E-13/B-1 Extension, Mohan Co-Operative Industrial Estate, Mathura
Road, Badarpur, New Delhi – 110044, India |
|
Tel. No.: |
91-11-40538630-31 |
|
Fax No.: |
91-11-40538632 |
|
E-Mail : |
|
|
|
|
|
Regional Offices : |
Located at:
|
DIRECTORS
As on: 30.09.2011
|
Name : |
Mr. Somnath Biswas |
|
Designation : |
Managing Director |
|
Address : |
B-350, Chittranjan Park, New Delhi – 110019, India |
|
Date of Birth/Age : |
26.01.1969 |
|
Date of Appointment : |
28.11.2006 |
|
DIN No.: |
01178474 |
|
|
|
|
Name : |
Philippe Marie Hery |
|
Designation : |
Director |
|
Address : |
11, Boulevard DU, General Liclerc, Limours - 91470, France |
|
Date of Birth/Age : |
04.01.1960 |
|
Date of Appointment : |
21.11.2006 |
|
DIN No.: |
03524691 |
|
|
|
|
Name : |
Jerome Stubler |
|
Designation : |
Additional Director |
|
Address : |
4 Rue Leconte De Lisle 75016 Paris 16 France Paris 75016 |
|
Date of Birth/Age : |
31.12.1963 |
|
Date of Appointment : |
13.06.2012 |
|
DIN No.: |
02518745 |
KEY EXECUTIVES
|
Name : |
Mr. Chandan |
|
Designation : |
Senior Executive Account |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Velizy Participation, France |
|
145 |
|
Terre Armee Internationale, France |
|
149855 |
|
|
|
|
|
Total |
|
150000 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2011
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
The Subject is engaged in contract activities related to
soil (earth) reinforcement techniques. |
|
|
|
|
Products : |
Not Available |
|
|
|
|
Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
Not Divulged |
|
|
|
|
Imports : |
Not Divulged |
|
|
|
|
Terms : |
Not Divulged |
PRODUCTION STATUS NOT AVAILABLE
GENERAL INFORMATION
|
Suppliers : |
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Customers : |
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No. of Employees : |
Not Divulged |
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||||||||||||||
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Bankers : |
Not Divulged |
|
Auditors : |
|
|
Name : |
Vishwanath Singh and Associates Chartered Accountants |
|
Address : |
Flat 1109, New Delhi House, 11th Floor, 27 Barakhamba Road, New Delhi
– 110001, India |
|
PAN No.: |
AAAFV4795R |
|
|
|
|
Memberships : |
-- |
|
|
|
|
Collaborators : |
-- |
|
|
|
|
Associate Company : |
|
CAPITAL STRUCTURE
As on: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs.10/- each |
Rs.1.500 Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Million]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1.500 |
1.500 |
1.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
181.876 |
124.565 |
92.872 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
183.376 |
126.065 |
94.372 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
183.376 |
126.065 |
94.372 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
79.275 |
54.036 |
67.877 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.100 |
0.100 |
0.000 |
|
|
DEFERREX TAX ASSETS |
18.072 |
11.619 |
0.701 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
84.609
|
122.185 |
80.682 |
|
|
Sundry Debtors |
320.315
|
189.686 |
209.817 |
|
|
Cash & Bank Balances |
75.793
|
91.258 |
82.159 |
|
|
Other Current Assets |
84.029
|
89.124 |
60.976 |
|
|
Loans & Advances |
82.103
|
31.919 |
24.632 |
|
Total
Current Assets |
646.849
|
524.172 |
458.266 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
110.386
|
136.101 |
150.761 |
|
|
Other Current Liabilities |
351.831
|
283.178 |
260.060 |
|
|
Provisions |
98.703
|
44.583 |
21.651 |
|
Total
Current Liabilities |
560.920
|
463.862 |
432.472 |
|
|
Net Current Assets |
85.929
|
60.310 |
25.794 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
183.376 |
126.065 |
94.372 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
680.534 |
666.072 |
490.518 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
590.176 |
615.752 |
467.508 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
90.358 |
50.320 |
23.010 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
33.046 |
18.628 |
8.418 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
57.312 |
31.692 |
14.592 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
66.055 |
34.363 |
20.068 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
123.367 |
66.055 |
34.363 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Contract materials |
88.239 |
118.996 |
65.366 |
|
|
|
Capital Goods |
0.374 |
0.543 |
0.513 |
|
|
TOTAL IMPORTS |
88.613 |
119.539 |
65.879 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
382.08 |
211.28 |
97.28 |
|
CURRENT MATURITIES
OF LONG TERM DEBT DETAILS
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Current Maturities of Long term debt |
NA |
NA |
NA |
|
Cash generated from operations |
NA |
NA |
NA |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
8.42 |
4.76 |
2.97 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.44 |
8.70 |
4.37 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.49 |
0.40 |
0.24 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15 |
1.13 |
1.06 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Million]
DEBT EQUITY RATIO
|
Particular |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Share Capital |
1.500 |
1.500 |
1.500 |
|
Reserves & Surplus |
92.872 |
124.565 |
181.876 |
|
Net
worth |
94.372 |
126.065 |
183.376 |
|
|
|
|
|
|
long-term borrowings |
0.000 |
0.000 |
0.000 |
|
Short term borrowings |
0.000 |
0.000 |
0.000 |
|
Total
borrowings |
0.000 |
0.000 |
0.000 |
|
Debt/Equity
ratio |
0.000 |
0.000 |
0.000 |
YEAR-ON-YEAR GROWTH
|
Year
on Year Growth |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
490.518 |
666.072 |
680.534 |
|
|
|
35.790 |
2.171 |
NET PROFIT MARGIN
|
Net
Profit Margin |
31.03.2009 |
31.03.2010 |
31.03.2011 |
|
|
(Rs.
In Million) |
(Rs.
In Million) |
(Rs.
In Million) |
|
Total Income |
490.518 |
666.072 |
680.534 |
|
Profit |
14.592 |
31.692 |
57.312 |
|
|
2.97% |
4.76% |
8.42% |
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 |
No |
|
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 |
No |
|
17] |
Details of sister concerns |
No |
|
18] |
Major suppliers |
No |
|
19] |
Major customers |
No |
|
20] |
Banking Details |
No |
|
21] |
Banking facility details |
No |
|
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 |
No |
|
26] |
Turnover of firm for last three 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 |
No |
|
35] |
Negative Reporting by Auditors in the
Annual Report |
No |
INDEX OF CHARGES: NO CHARGES
EXIST FOR THE COMPANY
FIXED ASSETS
- Furniture and Fitting
- Plant and Machinery
- Office Equipment
- Networking Cabling
- Motor Vehicles
- Leasehold Improvement
- Computers
- Trademarks
- Licence
- Goodwill
- Software
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. 63.95 |
|
|
1 |
Rs. 98.64 |
|
Euro |
1 |
Rs. 69.86 |
INFORMATION DETAILS
|
Information
Gathered by : |
DPA |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
JYTK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
18 |
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.