MIRA
INFORM REPORT
|
Report Date : |
30th
May, 2006 |
IDENTIFICATION
DETAILS
|
Name : |
HOOPS
& STRIPS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
23A,
Netaji Subhas Road, Suite No. 15, 2nd Floor, Kolkata – 700001 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
21st
May, 1974 |
|
|
|
|
Com. Reg. No.: |
20-3913 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U27110UP1974PTC003913 |
|
|
|
|
IEC No.: |
0293012229 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
CALH01926B |
|
|
|
|
Legal Form : |
Private
Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer,
Dealer, Exporter and Importer of “HS” Brand Strapping, Seals Tools, Sheet
Metal Components and Cold Rolled Steal Strips |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD
10000 |
|
|
|
|
Status : |
Satisfactory
|
|
|
|
|
Payment Behaviour : |
Slow
but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject
is a well – established company having satisfactory track records. Payments
are reported as slow but correct. Trade relations are fair. General financial
position is satisfactory. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office : |
23A,
Netaji Subhas Road, Suite No. 15, 2nd Floor, Kolkata – 700001,
India |
|
Tel.
No.: |
91-33-22212621
/ 22200485 / 30968405 |
|
Rsis.
No.: |
91-33-24781745
/ 30917061 |
|
Fax
No.: |
91-33-2210
2928 |
|
Email
: |
|
|
Area : |
256
Sq. ft |
|
Location : |
Rented
|
|
|
|
|
Corporate Office : |
293,
Ram Nagar, Ghaziabad, Uttar Pradesh |
|
Tel. No.: |
91-33-22300485/32968405 |
|
Mobile No.: |
91-9831817457/9831026822 |
|
Fax No.: |
91-33-22312621/2102928 |
|
|
|
|
Factory
1 : |
161/2,
Mirpara Road, Tiluah, Howrah |
|
Tel.
No.: |
91-33-32968403 |
|
Area : |
3800
Sq. ft |
|
Location : |
Owned |
DIRECTORS
|
Name : |
Mr. B
K Dubey |
|
Designation : |
Director
|
|
Address : |
401,
Block G, New Alipore, Kolkata – 700053 |
|
Date of Birth/Age : |
73
Years |
|
Experience : |
50
Years |
|
Mobile No.: |
91-9831817457 |
|
|
|
|
Name : |
Mr.
Ajay Dubey |
|
Designation : |
Director
|
|
Address : |
401,
Block G, New Alipore, Kolkata – 700053 |
|
Date of Birth/Age : |
38
Years |
|
Qualification : |
B. Com
|
|
Mobile No.: |
91-9831026822 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
|
Mr. B
K Dubey |
3700 |
|
Mrs.
Sudarshan Dubey |
3640 |
|
Mr.
Ajay Dubey |
2500 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer,
Dealer, Exporter and Importer of “HS” Brand Strapping, Seals Tools, Sheet
Metal Components and Cold Rolled Steal Strips |
|
|
|
|
Products : |
v
C
N Strips v
Strapping
Tools |
|
|
|
|
Brand Names : |
“HP” |
|
|
|
|
Exports to : |
Sheet
Strapping and Cold Rolled Steal Strips to Bangladesh and Sri Lanka |
|
|
|
|
Imports from : |
C N
Strips and Strapping tools from Germany and USA |
|
|
|
|
Terms : |
|
|
Selling : |
L/C
& Credit |
|
|
|
|
Purchasing : |
L/C
& Credit |
PRODUCTION
STATUS
|
Particulars |
Unit |
Installed Capacity |
Actual Production |
|
Strapping Tools |
M.T. |
1200 |
B & W Quality production Started from
April, 2006 |
|
C R Strips |
M.T. |
600 |
280 M.T. |
GENERAL
INFORMATION
|
Customers : |
Retailers
and End users |
|
|
|
|
No. of Employees : |
15 |
|
|
|
|
Bankers : |
Union
Bank of India, India Exchange Place, Kolkata |
|
|
|
|
Facilities : |
Credit
Limit – Rs. 2.500 Millions |
|
|
|
|
Banking Relations : |
Satisfactory
|
|
|
|
|
Auditors : |
G L
Singhal & Company Chartered
Accountant |
|
Address: |
23A,
Netaji Subhas Road, Suite No. 15, 2nd Floor, Kolkata – 700001 |
|
Tel. No.: |
91-33-22307682 |
|
|
|
|
Associates/Subsidiaries : |
Techno
Steel & Strips 57/3/1,
Netaji Subhas Road, Liluah Line
of Business – Manufacturer of Steel Strapping and Reprocessing of Strips Nihalchand
Jaganath 23A,
Netaji Subhas Road, Suite No. 15, 2nd Floor, Kolkata – 700001 Line
of Business – Dealing in Iron, Steel and hardware Materials |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
10000 |
Equity
Shares |
Rs. 10/- Each |
Rs. 1.000 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
10000 |
Equity
Shares |
Rs. 10/- Each |
Rs. 1.000 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2006 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
1.000 |
|
|
2] Share Application Money |
|
|
0.000 |
|
|
3] Reserves & Surplus |
|
|
1.980 |
|
|
4] (Accumulated Losses) |
|
|
0.000 |
|
|
NETWORTH |
|
|
2.980 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
0.000 |
|
|
2] Unsecured Loans |
|
|
0.050 |
|
|
TOTAL BORROWING |
|
|
0.050 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.036 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
3.066 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
1.301 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.282 |
|
|
DEFERREX TAX ASSETS |
|
|
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
0.848 |
|
|
Sundry Debtors |
|
|
8.855 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.446 |
|
|
Total |
|
|
10.149 |
|
|
Cash & Bank Balances [Less] -- |
|
|
[2.416] |
|
Total Current Assets |
|
|
7.733 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
|
6.253 |
|
|
Provisions |
|
|
0.000 |
|
Total Current Liabilities |
|
|
6.253 |
|
|
Net Current Assets |
|
|
1.480 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.003 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
3.066 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
|
31.03.2006 |
|
Sales Turnover [including other income] |
|
|
29.707 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
|
|
0.570 |
|
Provision
for Taxation |
|
|
0.144 |
|
Profit/(Loss)
After Tax |
|
|
0.426 |
|
|
|
|
|
|
Export
Value |
|
|
0.580 |
|
|
|
|
|
|
Import
Value |
|
|
1.907 |
|
|
|
|
|
|
Total
Expenditure |
|
|
2.590 |
KEY
RATIOS
|
PARTICULARS |
|
|
|
31.03.2006 |
|
PAT / Total Income |
(%) |
|
|
1.43 |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
|
|
1.91 |
|
|
|
|
|
|
|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
|
6.30 |
|
|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
|
|
0.19 |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
|
|
2.11 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
|
|
1.23 |
LOCAL AGENCY
FURTHER INFORMATION
Trade
References
v
Evince
Svisse Limited, Dhaka, Bangladesh
v
Three
Sinha Industries, Sri Lanka
v
Auernammer
Metal Mark, Germany
v
Teknica,
USA
Metal
packaging Division:
Blued
and Waxed steel strapping :
This is
a “Value for money” offer form the stable. The company provide the customer
with a completely De-burred, blued and waxed strapping without cosmetic finish
at economical prices. It is produced in all regular sizes. They can also meet
any specific requirement of the customer.
Seals
:
Matching
seals made form in house cold Rolled Steel, painted and printed as per customer
specification.
Tools
:
Best
quality, Manual / combination Tools suitable for a wide4 range of applications at affordable prices.
Press
Metal Division :
This is
a recent addition to their manufacturing Bouquet wherein they produce sheet
Metal Components in various shapes and sizes. Any sort of Forming, deep draw,
and blanking, notching job can be undertaken. Various surface finishes can be
provided such as Galvanising, Phosphate, Zn/Cr/Tin plating on the components as
per customer requirement. Finish products undergo stringent quality checks as
per drawing and specification.
Cold
Rolling Division :
They
have their own Rolling Plant, wherein they product C. R. Strips for in house
consumption and also for a buch of Sophisticated client. They are leading
supplier to Defence Department.
International
Trade Division :
The
company can offer services for outsourcing of fabricated/ machined components
in variety of surface finished like Powder coating, galvanising. Phosphating
etc.
With
wide access in various Government Organisation and corporate sector, the
company can also undertake to represent any organisation in marketing their
products and services in India.
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.45.97 |
|
UK
Pound |
1 |
Rs.80.51 |
|
Euro |
1 |
Rs.58.58 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
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 |
5 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |