MIRA
INFORM REPORT
|
Report Date : |
30.03.2007 |
IDENTIFICATION
DETAILS
|
Name : |
CHERRYHILL INTERIOR PUBLIC LIMITED |
|
|
|
|
Formerly Known As : |
CHERRYHILL INTERIOR PRIVATE LIMITED |
|
|
|
|
Registered Office : |
C-22, Pamposh Enclave New Delhi:110048, Delhi |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
06.01.2003 |
|
|
|
|
Com. Reg. No.: |
55-118310 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U36101DL2003PLC118310 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELC0597B |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AACCC2197C |
|
|
|
|
Legal Form : |
Public limited liability company. Company’s shares are listed on the
stock exchange. |
|
|
|
|
Line of Business : |
Manufacturer, Dealers, Importers and Exporters off all type of
furniture, fitting handicrafts, wooden products, and plywood, teakwood and teak
boards. |
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 50000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established and reputed company having satisfactory track.
Directors are reported as experience and respectable businessmen. Trade
relations are reported as fair. Business is active. Payments are usually
correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
C-22, Pamposh Enclave New Delhi:110048, Delhi |
|
Tel. No.: |
91-11-26442505 |
|
Mobile No.: |
91-11-26220483 |
|
Website : |
|
|
|
|
|
Branches : |
E-25, East of Kailash, New Delhi:110065(India) |
|
Tel. No.: |
91-11-41626101 / 02 / 04, 26216585 |
|
Fax No.: |
91-11-26220483 |
|
E-mail: |
|
|
|
|
|
|
|
|
Branches : |
No:651, Ground Floor, 17th ‘C’ Cross, CMH Road, Indira
Nagar, 2nd Stage, Bangalore-560038 (India), |
|
Tel. No.: |
91-80-32949420 |
|
Fax No.: |
91-80-41310831 |
|
|
|
|
Branches : |
#401, 6-3-1090/A/12, Manbhum Jade Towers, Hotel Fortune Katriya Lane,
Somajiguda, Hyderabad-500082 (India) |
|
Tel. No.: |
91-40-30608686 |
|
Fax No.: |
91-40-30608586 |
|
|
|
DIRECTORS
|
Name : |
Mr. Rahiv Mohan |
|
Designation : |
Whole Time Director |
|
Address : |
C-22, Pamposh Enclave New Delhi:110048 Delhi |
|
Date of Birth/Age : |
31.05.1963 |
|
Date of Appointment : |
06.01.2003 |
|
|
|
|
Name : |
Ms. Neelam Mohan |
|
Designation : |
Director |
|
Address : |
C-22, Pamposh Enclave New Delhi:110048 Delhi |
|
Date of Birth/Age : |
12.03.1964 |
|
Date of Appointment : |
06.101.2003 |
|
|
|
MAJOR SHAREHOLDERS
|
Names of Shareholders |
|
No. of Shares |
|
Rajiv Mohan |
|
6000 |
|
Meelam Mohan |
|
100 |
|
Rajesh Khanna |
|
10 |
|
Col. Narendra Behl |
|
10 |
|
B.N. Handoo |
|
10 |
|
Bimla Handoo |
|
10 |
|
Mr. S. Satyajit |
|
10 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Dealers, Importers and Exporters off all type of furniture,
fitting handicrafts, wooden products, and plywood, teakwood and teak boards. |
|
|
|
|
Products : |
Modular Furniture, Chairs, Carpets, Electrical Receptacles Construction and Interiors Fit out |
|
|
|
GENERAL
INFORMATION
|
No. of Employees : |
About 200 |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
State Bank of India HDFC Bank Limited |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
Secured Loan:
|
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
Kishore and Kishore Chartered Accountant |
|
Address : |
D-3, Alaknanda Shopping Complex, Paradise Plaza, New Delhi:110019,
Delhi |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6150 |
Equity Shares |
Rs.100/-
each |
Rs.0.615
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.610 |
0.610 |
0.610 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
11.977 |
3.327 |
1.360 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
12.587 |
3.937 |
1.970 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
22.073 |
15.238 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.835 |
0.000 |
|
|
TOTAL BORROWING |
22.073 |
16.073 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.059 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
34.660 |
20.069 |
1.970 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
8.352 |
3.775 |
0.390 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.034 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
51.278
|
66.229 |
0.000 |
|
|
Work in progress |
|
|
31.411 |
|
|
Sundry Debtors |
15.660
|
9.827 |
7.036 |
|
|
Cash & Bank Balances |
58.761
|
32.779 |
9.973 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.00 |
|
|
Loans & Advances |
35.131
|
21.740 |
3.626 |
|
Total
Current Assets |
160.830
|
130.575 |
52.046 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
130.061
|
112.953 |
0.000 |
|
|
Provisions |
4.510
|
1.350 |
50.496 |
|
Total
Current Liabilities |
134.571
|
114.303 |
50.496 |
|
|
Net Current Assets |
26.259
|
16.272 |
1.550 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.015 |
0.022 |
0.030 |
|
|
|
|
|
|
|
|
TOTAL |
34.660 |
20.069 |
1.970 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
Sales Turnover |
256.344 |
150.810 |
0.000 |
|
|
Other Income |
1.423 |
0.518 |
55.610 |
|
|
Total Income |
257.767 |
151.328 |
55.610 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
13.305 |
3.852 |
1.359 |
|
|
Provision for Taxation |
4.569 |
1.305 |
-- |
|
|
Profit/(Loss) After Tax |
8.736 |
2.547 |
1.359 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Establishment and administration Exp. |
0.000 |
0.000 |
1.407 |
|
|
Selling and Distribution Expenses |
0.000 |
0.000 |
0.208 |
|
|
Work Contract Expenses |
0.000 |
0.000 |
52.179 |
|
|
Repair and Maintenance |
0.000 |
0.000 |
0.112 |
|
|
Raw Material Consumed |
223.984 |
138.990 |
0.000 |
|
|
Purchases made for re-sale |
0.000 |
0.000 |
0.000 |
|
|
Consumption of stores and spares parts |
0.000 |
0.000 |
0.000 |
|
|
Increase/(Decrease) in Finished Goods |
0.000 |
0.000 |
0.000 |
|
|
Salaries, Wages, Bonus, etc. |
5.059 |
1.904 |
0.000 |
|
|
Managerial Remuneration |
0.600 |
0.600 |
0.000 |
|
|
Payment to Auditors |
0.045 |
0.041 |
0.000 |
|
|
Interest |
0.309 |
0.156 |
0.019 |
|
|
Insurance Expenses |
0.207 |
0.000 |
0.000 |
|
|
Power & Fuel |
0.000 |
0.000 |
0.000 |
|
|
Depreciation & Amortization |
1.221 |
0.680 |
0.000 |
|
|
Other Expenditure |
13.036 |
5.104 |
0.073 |
|
Total Expenditure |
244.461 |
147.475 |
53.998 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
PAT / Total Income |
(%) |
3.38
|
1.68 |
2.44 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.19
|
2.55 |
-- |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
7.86
|
2.86 |
2.59 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.05
|
0.97 |
0.68 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
10.69
|
2.90 |
25.63 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.19 |
1.14 |
1.03 |
LOCAL AGENCY
FURTHER INFORMATION
To Manufacture all kinds of furniture made from wood, brass, steel,
fiberglass or any other alloys, and handicrafts.
To carry on the business as dealers, importers and exporters off all
type of furniture, fitting handicrafts, wooden products, and plywood, teakwood
and teak boards.
To do all types of interior decoration work, repair fabrication,
processing work according to customer specification in furnishing th buildings,
commercials or residential.
To carry on the business of wholesalers, retail or otherwise of house
furnishers, upholsters and dealers in and hirers, repairs cleaners, stores, and
warehouse of furniture, carpets linoleums and other floor covering , fitting
curtains and other furnishing of all kinds and all things of being used
therewith
Fixed Assets:
Land
Office Equipment
Computer
Telephone Instrument
Photostate Machine
Fridge
Television
Kitchen Equipments
Vaccum Cleaner
Other Office Equipment
Fan
Currency counting M/c
E.P.A.B.X
Machinery
Rotarry Hammer
Sander Machine
Furniture and Fixture
Vechicle
Scooter
Hyundai Terracan
Esteem Maruti
Since the inception of this group in 1987, they have successfully executed several prestigious projects serving a highly discriminating clientele to their full satisfaction.
The one point solution to complete corporate interiors. A leading premium brand provider of a range of OCCUPANCY SUPPORT SERVICES. They serve all national and multinational clients and occupiers of space with all types of occupancy services.
When you think of expansion, or restructuring, space management is one of the chief concerns. Before you begin you need assurance that the job will be done well by experienced professionals, that it will be completed within an agreed time frame, and that it will be done affordably at a price determined at the outset.
Even short delays in the completion of the project can have serious financial implications and impact on the ability to do business efficiently. So you want a guarantee that the premises will be ready when you need them. That's why the project will have an agreed completion date written into the contract. To ensure this target is achieved, they will provide you with a full time, dedicated team who are used to carrying out demanding programmes to work within limited time schedule. Using a systematic and proactive approach to site management, their team takes control of the project, anticipating problems in advance and initiating for you in a timely and efficient manner
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.43.15 |
|
UK Pound |
1 |
Rs.85.22 |
|
Euro |
1 |
Rs.57.63 |
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 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|