MIRA
INFORM REPORT
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Report Date : |
04.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
RIYA ELECTRODES
PRIVATE LIMITED |
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Registered Office : |
3C, OCS
Apartments, Mayur Vihar, Phase – I, Extension Delhi – 110 091 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
12.01.2005 |
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Com. Reg. No.: |
55 – 132036 |
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CIN No.: [Company
Identification No.] |
U51103DL2005PTC132036 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RTKR03825D |
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PAN No.: [Permanent
Account No.] |
AACCR9138B |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Importer/ Exporter
of EDM Machines, Spare Parts, Consumables for EDM Machines &
Manufacturing & Trading of Graphite/ Metallic Electrodes |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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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 : |
New Company |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a new
company and trying to establish itself. Directors are reported as experienced
and respectable businessmen. Trade relations are reported as fair. Business
is active. Payments are reported as usually correct and as per commitments. The company can
be considered for small business dealings at usual trade terms and
conditions. |
LOCATIONS
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Registered Office : |
3C, OCS
Apartments, Mayur Vihar, Phase – I, Extension Delhi – 110 091 |
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Tel. No.: |
91-11-22719497 |
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E-Mail : |
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Area : |
1500 Sq. ft |
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Location : |
Owned
(Residential) |
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Corporate Office : |
SCF 30 P, Sector
16A, Part – I Market, Faridabad 121 002 Haryana |
DIRECTORS
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Name : |
Mr. Kumar
Mahendra Aggarwal |
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Designation : |
Director |
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Address : |
3C, OCS Apartments,
Mayur Vihar, Phase – I, Extension Delhi – 110 091 |
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Date of Birth/Age : |
15.06.1968 |
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Date of
Appointment : |
12.01.2005 |
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Tel. No.: |
91 87191 84577 |
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Name : |
Ms. Prabha
Aggarwal |
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Designation : |
Director |
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Address : |
3C, OCS Apartments,
Mayur Vihar, Phase – I, Extension Delhi – 110 091 |
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Date of Birth/Age : |
18.02.1974 |
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Date of Appointment : |
12.01.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
Percentage of Holding |
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Mr. Kumar
Mahendra Aggarwal |
5000 |
50.00 % |
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Ms. Prabha
Aggarwal |
5000 |
50.00 % |
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Total |
10000 |
100.00 % |
List of
Allotment Share
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Names
of Shareholders |
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No. of Shares |
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Mr. Kumar
Mahendra Aggarwal |
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120000 |
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Ms. Prabha
Aggarwal |
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68500 |
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Total |
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188500 |
BUSINESS DETAILS
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Line of Business : |
Importer/
Exporter of EDM Machines, Spare Parts, Consumables for EDM Machines &
Manufacturing & Trading of Graphite/ Metallic Electrodes |
GENERAL INFORMATION
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No. of Employees : |
About 10 |
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Bankers : |
Not Available |
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Facilities : |
-- |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
Santosh Gupta
& Company Chartered
Accountant |
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Address : |
SCF 30 P, Sector
16A, Part – I Market, Faridabad 121 002 Haryana |
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Tel. No.: |
91-129-5079111/2226310 |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs. 10/- Each |
Rs. 2.500 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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198500 |
Equity Shares |
Rs. 10/- Each |
Rs. 1.985 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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1.985 |
0.100 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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2.223 |
0.000 |
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4] (Accumulated Losses) |
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0.000 |
(0.039) |
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NETWORTH |
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4.208 |
0.061 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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2.905 |
0.689 |
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TOTAL BORROWING |
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2.905 |
0.689 |
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DEFERRED TAX LIABILITIES |
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0.004 |
0.000 |
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TOTAL |
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7.117 |
0.750 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.103 |
0.000 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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3.880 |
0.383 |
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Sundry Debtors |
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3.459 |
0.000 |
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Cash & Bank Balances |
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1.717 |
0.199 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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0.854 |
0.116 |
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Total
Current Assets |
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9.910 |
0.698 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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1.809 |
0.005 |
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Provisions |
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1.130 |
0.000 |
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Total
Current Liabilities |
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2.939 |
0.005 |
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Net Current Assets |
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6.971 |
0.693 |
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MISCELLANEOUS EXPENSES |
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0.043 |
0.057 |
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TOTAL |
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7.117 |
0.750 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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21.584 |
0.002 |
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Total Income |
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21.584 |
0.002 |
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Profit/(Loss) After Tax |
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3.396 |
(0.039) |
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Expenditures : |
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Interest |
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0.015 |
0.000 |
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Depreciation & Amortization |
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0.001 |
0.000 |
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Other Expenditure |
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18.172 |
0.000 |
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Total Expenditure |
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18.188 |
0.041 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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15.73 |
(1950) |
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Debt Equity Ratio (Total Liability/Networth) |
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0.69 |
0.08 |
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Current Ratio (Current Asset/Current Liability) |
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3.37 |
1.00 |
LOCAL AGENCY
FURTHER INFORMATION
Business
To carry on the business
of import / export of EDM machines spare parts, consumables for EDM machines
and manufacturing and trading of Graphite / Metallic Electrodes.
To carry on
business as manufacturers, imports and exporters of and dealers in all kinds of
Welding consumables, including Calcium Carbide, Welding Electrodes automatic
and semi-automatic welding designed to weld all types of metals, welding
cartridges and studs suitable for all types of welding processes consumption.
To carry on
business as manufacturers, importers and exporters of and dealers in all kinds
of brass wire, tungsten copper resin, filter and machine part, welding
equipment, metal, alloys both gorged and cast including welding transformers,
rectifiers, automatic and semi – automatic welding equipment suitable for all
types of welding processes.
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 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. |
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UK Pound |
1 |
Rs. |
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Euro |
1 |
Rs. |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
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PAID-UP CAPITAL |
1~10 |
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OPERATING SCALE |
1~10 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
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--PROFITABILIRY |
1~10 |
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--LIQUIDITY |
1~10 |
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--LEVERAGE |
1~10 |
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--RESERVES |
1~10 |
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--CREDIT LINES |
1~10 |
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--MARGINS |
-5~5 |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
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--LITIGATION |
YES/NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
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--EXPORT ACTIVITIES |
YES/NO |
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--AFFILIATION |
YES/NO |
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--LISTED |
YES/NO |
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--OTHER MERIT FACTORS |
YES/NO |
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TOTAL |
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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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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