MIRA
INFORM REPORT
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Report Date : |
16.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
RANK OFFICE AUTOMATION PRIVATE LIMITED |
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Registered Office : |
14, Ansari Market, Opp. Ram Mandir, Daryaganj, New Delhi – 110002, |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
22.08.1997 |
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Com. Reg. No.: |
55- 89218 |
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CIN No.: [Company
Identification No.] |
U30004DL1997PTC089218 |
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IEC No.: |
0598032681 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELR08695B DELR10210E |
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PAN No.: [Permanent
Account No.] |
AAACR6164P |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business : |
Trader and Importer of Photocopies & Printer, ITS
Spares And Consumables |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 12000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well-established and reputed company having satisfactory track.
Directors are reported as experienced 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
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Registered Office : |
14, Ansari Market, Opp. Ram Mandir, Daryaganj, New Delhi – 110002,
Delhi |
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Tel. No.: |
91-11-23257658 |
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Fax No.: |
91-11-23253844 |
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Area : |
2000 Sq. Fts. |
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Location : |
Owned |
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DIRECTORS
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Name : |
Mr. Kuldeep Virmani |
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Designation : |
Whole Time Director |
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Address : |
574, Sector – 8, Faridabad, Haryana - 121001 |
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Date of Birth/Age : |
15/04/1960 / 47 Years |
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Qualification : |
Graduate |
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Experience : |
26 Years |
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Date of Appointment : |
22/08/1997 |
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Name : |
Mr. Kailash Virmani |
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Designation : |
Whole Time Director |
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Address : |
2 A/ 84, Faridabad, Haryana - 121001 |
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Date of Birth/Age : |
01/07/1962 |
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Qualification : |
Post Graduate |
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Experience : |
23 Years |
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Date of Appointment : |
22/08/1997 |
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Name : |
Mr. Rakesh Virmani |
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Designation : |
Whole Time Director |
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Address : |
2 A/ 84, Faridabad, Haryana - 121001 |
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Qualification : |
Graduate Engineering |
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Experience : |
20 Years |
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Date of Birth/Age : |
02.10.1964 |
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Date of Appointment : |
22/08/1997 |
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MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Mr. Kuldeep Virmani |
57200 |
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Mr. Kailash Virmani |
62900 |
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Mr. Rakesh Virmani |
73190 |
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Ms. Sudesh Virmani |
2710 |
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Ms. Krishna Virmani |
4000 |
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Total |
200000 |
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Equity Share Breakup (percentage of total equity )
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Category |
Percentage |
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1. Directors or relatives of directors |
100 % |
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Total |
100 % |
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BUSINESS DETAILS
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Line of Business : |
Trader and Importer of Photocopies
& Printer, ITS Spares And
Consumables |
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Products : |
NIC Code – 51505 Wholesaler of
Electrical Machinery & Supplies n.e.c. |
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Imports : |
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Products : |
Photocopies & Printer & ITS Spares |
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Countries : |
China, Taiwan, Korea, Singapore, USA |
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Terms : |
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Selling : |
Cash, Credit (30 to 60 days ) |
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Purchasing : |
Cash, Credit (30 to 60 days ) |
GENERAL
INFORMATION
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Customers : |
Wholesaler & Engineers |
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No. of Employees : |
25 (In Office ) |
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Banker : |
v State Bank of India, Daryaganj Branch, New Delhi – 110002 v ABN Amro Bank v State Bank of Patiala Daryaganj Branch, New Delhi – 110002 Facilities : Credit Limit Rs.6.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
S. Sunder Khandelwal and Company Chartered Accountants |
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Address : |
B-461, Nehru Ground, NIT Faridabad, Haryana |
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Tel. No.: |
91-129- 2414942 / 2410127 |
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Fax No.: |
91-129-2414942 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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200000 |
Equity Share |
Rs.10/- Each |
Rs.2.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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200000 |
Equity Share |
Rs.10/- Each |
Rs.2.000 Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
2.000 |
2.000 |
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2] Share Application Money |
0.000 |
0.000 |
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3] Reserves & Surplus |
1.188 |
1.630 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
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NETWORTH |
3.188 |
3.630 |
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LOAN FUNDS |
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1] Secured Loans |
3.743 |
5.882 |
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2] Unsecured Loans |
0.645 |
1.016 |
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TOTAL BORROWING |
4.388 |
6.898 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
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TOTAL |
7.576 |
10.528 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.455 |
0.400 |
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Capital work-in-progress |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
8.134
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14.174 |
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Sundry Debtors |
0.621
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1.062 |
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Cash & Bank Balances |
0.014
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0.105 |
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Other Current Assets |
0.410
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0.426 |
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Loans & Advances |
0.000
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0.027 |
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Total
Current Assets |
9.179
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15.794 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
2.076
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5.681 |
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Provisions |
0.000
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0.000 |
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Total
Current Liabilities |
2.076
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5.681 |
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Net Current Assets |
7.103
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10.113 |
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MISCELLANEOUS EXPENSES |
0.018 |
0.015 |
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TOTAL |
7.576 |
10.528 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
21.837 |
16.112 |
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Other Income |
0.000 |
0.000 |
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Total Income |
21.837 |
16.112 |
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0.701 |
0.308 |
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Profit/(Loss) Before Tax |
0.235 |
0.000 |
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Provision for Taxation |
0.466 |
0.308 |
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Profit/(Loss) After Tax |
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Expenditures : |
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Manufacturing Expenses |
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Administrative Expenses |
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Raw Material Consumed |
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Purchases made for re-sale |
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Consumption of stores and spares parts |
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Increase/(Decrease) in Finished Goods |
21.837 |
15.804 |
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Salaries, Wages, Bonus, etc. |
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Managerial Remuneration |
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Payment to Auditors |
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Interest |
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Insurance Expenses |
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Power & Fuel |
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Depreciation & Amortization |
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Other Expenditure |
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Total Expenditure |
21.136 |
15.804 |
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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 |
(%) |
2.13
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1.94 |
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Net Profit Margin (PBT/Sales) |
(%) |
3.31
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1.94 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
7.27
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1.90 |
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Return on Investment (ROI) (PBT/Networth) |
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0.21
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0.08 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.02
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3.46 |
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Current Ratio (Current Asset/Current Liability) |
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4.42
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2.78 |
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LOCAL AGENCY
FURTHER INFORMATION
Form 8
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Name of the company |
Rank Office
Automation Private Limited |
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Presented By |
Company And State
Bank Of Patiala |
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1) Date and description of instrument creating the change |
Hypothecation
agreement for goods and assets dated 31.12.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.6.000 millions
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
All present an
future goods, book debts and all other movable assets of the borrower
including documents of title to the goods, outstanding monies, receivables by way of cash
incentive / cash assistance under the cash incentive scheme or any other
scheme, clams including claims by way of refund of excise / custom duties
under the duty draw back credit scheme or any other scheme, bills, invoices,
investments and right and the present machinery listed in the schedule
hereunto and all future machinery belonging to or in the possession or under
the control of the borrower or of the bank or of any third party whether in
India or wherever else throughout the world (including all such goods, other
movable assets as may be in course of shipment transit or delivery)
(hereinafter referred to as “the said goods and assets”) shall stand
hypothecation to the bank by way of first charge. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of interest
@ 0.50% below BPIP 10% p.a. |
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5) Name and Address and description of the person entitled to the charge. |
State Bank of
Patiala Darya Ganj, New
Delhi |
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6) Date and brief description of instrument modifying the charge |
N.A. |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
N.A. |
Trade Reference :
1)
Mr. S. K. Mathur – CEO
2)
Shri Nidhi VAccum Metallizing Company
D- 141, Sector 63,
Noida Uttar Pradesh
Mobile No.: 91-9313403188 / 9810508454
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
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Indian Rupees |
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US Dollar |
1 |
Rs.41.67 |
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UK Pound |
1 |
Rs.83.41 |
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Euro |
1 |
Rs.56.61 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
--- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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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
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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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