MIRA
INFORM REPORT
|
Report Date : |
22.02.2007 |
IDENTIFICATION
DETAILS
|
Correct Name : |
LACHMAN
DASS AND SONS |
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Registered Office : |
3928,
Shardhda Nand Marg, Delhi - 110006 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
1979 |
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Legal Form : |
Sole
Proprietory Concern |
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Line of Business : |
Traders
and importers of tiles and bathroom furniture. |
RATING & COMMENTS
|
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
20000 |
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Status : |
Good |
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Payment Behaviour : |
Usually
correct |
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Litigation : |
Clear |
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Comments : |
Subject
is a well established concern having satisfactory track. Trade relations are
fair. Financial position is satisfactory. Payments are usually correct and as
per commitments. The
concern can be considered good for normal business dealings at usual trade
terms and conditions. |
LOCATIONS
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Registered Office / Showroom : |
3928,
Shardhda Nand Marg, Delhi – 110006, India |
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Tel. No.: |
91-11-23211091 |
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Mobile No.: |
91-9810004038 |
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Fax No.: |
91-11-23211093 |
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E-Mail : |
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Website : |
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Area : |
3000
sq. ft. |
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Location : |
Owned |
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Showroom
: |
M-37,
Grater Kailash Market, Part – II, New Delhi – 110048, India |
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Tel.
No.: |
91-11-29216080
/ 29217600 / 29221228 |
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Fax
No.: |
91-11-29215233 |
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E-Mail
: |
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Area : |
220
sq. ft. |
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Location : |
Rented
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SOLE PROPRIETOR
|
Name : |
Mr.
Ravi Kumar Arora |
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Designation : |
Proprietor
|
|
Address : |
C-37/A,
Green Park, New Delhi – 110016 Tel
No. : 91-11-2651003 |
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Date of Birth/Age : |
46
Years |
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Qualification : |
Graduate
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Experience : |
24
Years |
BUSINESS DETAILS
|
Line of Business : |
Traders
and importers of tiles and bathroom furniture. |
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Products : |
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Imports from : |
Italy,
Spain and Germany |
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Terms : |
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Selling : |
L/C,
DA and DP Local
Sales : Cash or 30 days Credit |
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Purchasing : |
L/C,
DA, DP all & 30 to 60 days credit Local
Purchase : Cash or 30 days Credit |
GENERAL
INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
13 |
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Bankers : |
The
South Indian Bank Limited, Greater Kailash – II, New Delhi – 110048 |
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Facilities : |
Over
Draft Rs. 12.000 Millions L. C.
Rs. 15.000 Millions |
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Banking Relations : |
Satisfactory
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Auditors : |
H. C.
Agarwal and Associates Chartered
Accountants F2,
First Floor, Green Park Main, New Delhi – 110016 |
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Tel. No.: |
91-11-26567183 |
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Fax No.: |
91-11-26525888 |
CAPITAL STRUCTURE
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Capital
Investment : |
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Owned : |
Rs.
5.520 Millions |
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Borrowed : |
-- |
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Total : |
Rs.
5.520 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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5.058 |
3.800 |
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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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0.000 |
0.000 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
5.058 |
3.800 |
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LOAN FUNDS |
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1] Secured Loans |
|
10.097 |
8.568 |
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2] Unsecured Loans |
|
7.062 |
5.222 |
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TOTAL BORROWING |
|
17.159 |
13.790 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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22.217 |
17.590 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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1.615 |
1.519 |
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Capital work-in-progress |
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INVESTMENT |
|
1.495 |
1.542 |
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DEFERREX TAX ASSETS |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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21.985 |
16.729 |
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Sundry Debtors |
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4.702 |
1.413 |
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Cash & Bank Balances |
|
0.110 |
0.075 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
|
0.473 |
0.951 |
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Total Current Assets |
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27.270 |
19.168 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
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8.163 |
4.639 |
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Provisions |
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Total Current Liabilities |
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8.163 |
4.639 |
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Net Current Assets |
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19.107 |
14.529 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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22.217 |
17.590 |
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PROFIT
& LOSS ACCOUNT
|
Particulars |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover [including other income] |
|
36.876 |
34.528 |
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Profit/(Loss) Before Tax |
|
4.750 |
4.313 |
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Provision
for Taxation |
|
4.215 |
4.024 |
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Profit/(Loss) After Tax |
|
0.535 |
0.289 |
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Import Value |
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19.444 |
NA |
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Total
Expenditure |
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32.126 |
30.215 |
Expected
Sales Turnover till date 21.02.2007 Rs. 49.700 Millions and for 2008 Rs. 80.000
Millions
Local
Purchase : Rs. 12.500 Millions
KEY
RATIOS
|
PARTICULARS |
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|
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
|
1.45 |
0.84 |
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Net
Profit Margin (PBT/Sales) |
(%) |
|
12.88 |
12.49 |
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Return
on Total Assets (PBT/Total
Assets} |
(%) |
|
16.44 |
20.85 |
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Return
on Investment (ROI) (PBT/Networth) |
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0.94 |
1.14 |
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Debt
Equity Ratio (Total
Liability/Networth) |
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5.01 |
4.85 |
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Current
Ratio (Current
Asset/Current Liability) |
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3.34 |
4.13 |
LOCAL AGENCY
FURTHER INFORMATION
Lachman
Dass and Sons having a showroom in Grater Kailash named ‘Tiles and Tapes’
Trade Reference
Cooperative
Ceramic D’Imola – Italy [Tiles]
Fince
bee – Italy [Tiles]
Sanchis
Azuzeojs – Spain [Tiles]
Monocibec
– Italy [Tiles]
Versace
Cermic Design - – Italy [Tiles]
Dur Avit
– Germany [Bathroom Fittings]
Antica –
Raja Garden, Delhi, Mr. Raviji, Proprietor, 91-11-25460498
Nanda
and Nanda – Chandni Chowk, Delhi, Mr. Brijesh, 91-11-26563146
As Per Website
Way back in 1933 Lacchman Das & Sons was set up to cater
to a vital requirement of the building industry-quality sanitaryware.
Since then, like the industry, they've come a long way.
Continually anticipating and adapting to changing needs. Keeping pace
with the latest developments.
And now, as a part of this effort, they proudly present TILES & TAPS - a storehouse of snazzy, stylish and very exclusive sanitaryware. TILES & TAPS is a showroom with a difference.
You will find display of complete bathroom units - featuring
an extensive array of sophisticated plumbing fixes, fittings and a range of
complementary accessories. Which include steam rooms, sensor units, and even a
jaccuzi.
What's more, at TILES & TAPS you (and the clients) can
actually see for self these stylish gadgets in operation.So that you have a
precise idea of what you're going in for.
And whatever item you choose, you may rest assured about its quality and reliability. Throughout their six decades in the business, they have made it a point to stock and sell only the best. Because that's what their customers have come to expect from us.
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.44.25 |
|
UK
Pound |
1 |
Rs.86.41 |
|
Euro |
1 |
Rs.58.10 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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 |
|
54 |
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 |
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