MIRA INFORM REPORT
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Report
Date : |
14.02.2007 |
IDENTIFICATION
DETAILS
|
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 |
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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Email
: |
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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
|
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
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Mr. Kumar Mahendra Aggarwal |
5000 |
50.00 % |
|
Ms. Prabha Aggarwal |
5000 |
50.00 % |
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Total |
10000 |
100.00 % |
List of Allotment Share
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Kumar Mahendra Aggarwal |
|
120000 |
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Ms. Prabha Aggarwal |
|
68500 |
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Total |
|
188500 |
BUSINESS DETAILS
|
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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Bankers
: |
Not Available |
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Facilities : |
- |
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Banking Relations : |
Unknown |
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Auditors
: |
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 :
|
No. of
Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs. 10/- Each |
Rs. 2.500 Millions |
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Issued,
Subscribed & Paid-up Capital :
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No. of
Shares |
Type |
Value |
Amount |
|
198500 |
Equity Shares |
Rs. 10/- Each |
Rs. 1.985 Millions |
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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 |
|
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) |
|
0.000 |
[0.039] |
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NETWORTH |
|
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 |
0.690 |
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TOTAL BORROWING |
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2.905 |
0.690 |
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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 |
0.751 |
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APPLICATION
OF FUNDS |
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FIXED
ASSETS [Net Block] |
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0.102 |
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 |
|
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 |
|
3.459 |
0.000 |
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Cash
& Bank Balances |
|
1.717 |
0.199 |
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Other
Current Assets |
|
0.000 |
0.000 |
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Loans
& Advances |
|
0.854 |
0.117 |
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Total Current Assets |
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9.910 |
0.699 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current
Liabilities |
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1.809 |
0.006 |
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Provisions |
|
1.130 |
0.000 |
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Total Current
Liabilities |
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2.939 |
0.006 |
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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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0.044 |
0.058 |
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TOTAL |
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7.117 |
0.751 |
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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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Debt Equity Ratio (Total Liability/Networth) |
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1.39 |
11.41 |
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Current Ratio (Current Asset/Current Liability) |
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3.37 |
116.50 |
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.16 |
|
UK Pound |
1 |
Rs.86.00 |
|
Euro |
1 |
Rs.57.56 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP
CAPITAL |
1~10 |
4 |
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OPERATING
SCALE |
1~10 |
3 |
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FINANCIAL
CONDITION |
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--BUSINESS
SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
3 |
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--CREDIT
LINES |
1~10 |
3 |
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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 |
YES |
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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 |
|
30 |
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 |
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 |
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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 |
|
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 |