MIRA INFORM REPORT
|
Report
Date : |
5th
June 2006 |
IDENTIFICATION
DETAILS
|
Name : |
BRAND HOLDINGS INDIA PRIVATE LIMITED |
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Formerly
Known As : |
GHANSYAM KRUPA TRADING PRIVATE LIMITED |
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Registered
Office : |
8 A, Akash Ganga, 89, Bhulabhai Desai Road, Mumbai 400036,
India |
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Country
: |
India |
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Financial
: |
31/03/2005 |
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Date
of Incorporation : |
24.03.2000 |
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Com.
Reg. No.: |
11-125280 |
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CIN
No.: [Company
Identification No.] |
U52311MH2000PTC125280 |
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TAN No.: [Tax Deduction & Collection Account No.] |
MUMB10067B |
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Legal
Form : |
Private Limited Liability Company |
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Line
of Business : |
To purchase, sell, import, export
and trade in all kinds of merchandise including medicinals, chemicals,
pharmaceuticals and biological preparations, all types of stationery items,
toilet requisites, preserved food items, and perfumery articles. |
RATING & COMMENTS
|
MIRA’s
Rating : |
B |
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Unfavourable
& favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
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Maximum
Credit Limit : |
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Status
: |
Moderate |
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Payment
Behaviour : |
Slow but
Correct |
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Litigation
: |
Clear |
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Comments
: |
Subject is a
small company having moderate track. Company’s profitability is under severe
pressure. It has some accumulated losses. Payments are reported as slow but
correct. The company can be considered for small business dealings
at usual trade terms and conditions. |
LOCATIONS
|
Registered Office : |
8 A, Akash Ganga, 89, Bhulabhai Desai Road, Mumbai 400036,
India |
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Tel No
: |
91-22-56324343 |
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Head
Office : |
Hilton Tower Hotel, Nariman Point, Mumbai -400021 |
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Tel No
: |
91-22-66324343 |
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Fax No : |
91-22-66308730 |
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DIRECTORS
|
Name : |
Mr. Vijay Mohan Murjani |
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Designation
: |
Director |
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Address
: |
8 A, Akash Ganga, 89, Bhulabhai Desai Road, Mumbai 400036,
India. |
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Date
of Birth: |
18.10.1970 |
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Date
of Appointment : |
15.12.2001 |
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Name : |
Mr. Rakesh Thakar Desai |
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Designation
: |
Director |
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Address
: |
5/40, CCI Colony, M. G. Road, Unnat Nagar-4, Goregaon (w),
Mumbai 400062 |
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Date
of Birth : |
02.04.1973 |
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Date
of Appointment : |
15.12.2001 |
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OTHER
PERSONNEL |
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Name: |
J. P. Associates |
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Designation |
Company Secretary |
MAJOR SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
|
Ganesha
Limited |
100000 |
|
Sanjay
Chandrakant Desai |
1 |
|
Rakesh
Thakur Desai |
1 |
|
Guni
Mohan Murjani (Preference Shares ) |
90000 |
BUSINESS DETAILS
|
Line
of Business : |
To purchase, sell, import, export and trade in all kinds
of merchandise including medicinals, chemicals, pharmaceuticals and
biological preparations, all types of stationery items, toilet requisites,
preserved food items, and perfumery articles. |
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GENERAL INFORMATION
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Bankers
: |
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Facilities : |
Secured Loan Car Loan
from HDFC Bank Rs. 2.298 millions |
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Auditors
: |
G. M . Kapadia and Company Chartered Accountant |
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Tel.
No.: |
91-22-22653996/22655362 |
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Fax
No. : |
91-22-22655472 |
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Address: |
Tamarind House, 36-B Tamarind Lane, Mumbai 400 001, India |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
150000 |
Equity Shares |
Rs.10 each |
Rs. 1.500 million |
|
900000 |
3% Non Cumulative Redeemable Preference Shares |
Rs. 10 each |
Rs. 9.000 millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
100002 |
Equity Shares |
Rs.10 each |
Rs. 1.000 million |
|
800000 |
3% Non-Cumulative Redeemable Preference Shares |
Rs. 10 each |
Rs. 8.000 milions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2004 |
31.03.2005 |
31.03.2002 |
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SHAREHOLDERS
FUNDS |
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|
1] Share
Capital |
9.000 |
1.000 |
1.000 |
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2) Share
Application Money |
0.065 |
0.719 |
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2]
Reserves & Surplus |
0.000 |
0.000 |
- |
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3]
Accumulated Losses |
(3.504) |
(2.502) |
(0.964) |
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NETWORTH
|
5.561 |
(0.783) |
0.035 |
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LOAN
FUNDS |
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1]
Secured Loans |
2.298 |
0.000 |
- |
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2]
Unsecured Loans |
0.00 |
0.000 |
0.029 |
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TOTAL
BORROWING
|
2.298 |
0.000 |
0.029 |
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DEFERRED TAX LIABILITY
|
0.070 |
0.004 |
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TOTAL
|
7.929 |
(0.779) |
0.064 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
|
3.091 |
0.053 |
0.061 |
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Capital work-in-progress
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INVESTMENT
|
0.000 |
-- |
- |
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CURRENT ASSETS, LOANS & ADVANCES
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Inventories
|
0.000
|
0.000
|
- |
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Sundry Debtors
|
1.568
|
0.000
|
- |
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Other Current Assets
|
0.248
|
0.072
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Cash & Bank Balances
|
4.225
|
0.486
|
0.205
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Total Current Assets
|
6.041 |
0.558 |
0.205 |
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Less : CURRENT LIABILITIES & PROVISIONS
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Current Liabilities
|
1.203
|
1.390
|
0.203
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Provisions
|
0.000
|
-- |
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Total Current Liabilities
|
1.203
|
1.390
|
0.203
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Net
Current Assets
|
4.838
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(0.832)
|
0.002
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MISCELLANEOUS EXPENSES
|
-- |
-- |
0.001 |
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TOTAL
|
7.929 |
(0.779) |
0.064 |
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PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2004 |
31.03.2003 |
31.03.2002 |
Sales Turnover [including other income]
|
5.043 |
1.260 |
-- |
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Profit/(Loss) Before Tax
|
(0.916) |
(1.534) |
(0.962) |
Provision for Taxation
|
(0.066) |
(0.001) |
-- |
Profit/(Loss) After Tax
|
(0.982) |
(1.535) |
(0.962) |
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Earning in foreign currency
|
1.568 |
-- |
-- |
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Total Expenditure
|
5.959 |
2.794 |
962303.00 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
PAT / Total Income |
(%) |
(18.163)
|
-- |
-- |
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Net Profit Margin (PBT/Sales) |
(%) |
(19.472)
|
-- |
-- |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(10.030)
|
(87.397) |
-- |
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Return on Investment (ROI) (PBT/Networth) |
|
0.164
|
(0.681) |
(27.485) |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.629
|
(1.057) |
6.628 |
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Current Ratio (Current Asset/Current Liability) |
|
5.021
|
(0.670) |
1.009 |
LOCAL AGENCY FURTHER INFORMATION
Financial Result :
The company made a loss of Rs.0.916 millions after writing
off preliminary expenses for the period ended 31st March, 2004.
Fixed Assets :
- Office
Equipement
- Computers
- Furniture
& Fixtures
- Motor
Car
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 records 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 records 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.43.63 |
|
UK Pound |
1 |
Rs.75.99 |
|
Euro |
1 |
Rs.52.02 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP
CAPITAL |
1~10 |
2 |
|
OPERATING
SCALE |
1~10 |
2 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT
LINES |
1~10 |
- |
|
--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 |
NO |
|
TOTAL |
|
14 |
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 |
Unfavourable
& favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
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 |