MIRA INFORM
REPORT
|
Report
Date : |
06.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
AMON RA – IMPEX PRIVATE LIMITED |
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Registered
Office : |
63, 6th
Floor, |
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Country
: |
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Financials
(as on) : |
31.03.2006 |
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Date
of Incorporation : |
13.07.1995 |
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Com.
Reg. No.: |
11-90543 |
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CIN
No.: [Company
Identification No.] |
U51900MH1995PTC090543 |
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IEC
No.: |
0395050499. |
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|
Legal
Form : |
Private Limited Liability Company |
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|
Line
of Business : |
Importers
of Hanwha Products. |
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 49000 |
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|
|
|
Status
: |
Satisfactory |
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|
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Payment
Behaviour : |
Usually
correct |
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Litigation
: |
Clear |
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Comments
: |
This report is based on an interview with Ms Anita Jain (#
9820616480), Business Development Executive. Directors are reported as
experienced, respectable and having satisfactory track records. Trade
relations are fair. 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 : |
63, 6th
Floor, |
|
Tel.
No.: |
91-22-2283
6260 / 22817346 /22308518/22837132/22837538 |
|
Fax
No.: |
91-22-2283
1179 |
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E-Mail
: |
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|
Website
: |
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|
Area : |
660 Sq. ft |
|
Location : |
Owned |
DIRECTORS
|
Name : |
Mr. Ashok
Rajgor |
|
Designation
: |
Director |
|
Address
: |
705,
Rajmala 87BB, |
|
Date
of Birth/Age : |
01.11.1961 |
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Qualification
: |
B. Com. |
|
Experience
: |
27 years |
|
Date
of Appointment : |
18.08.1995 |
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|
|
|
Name : |
Mrs.
Kalpana K Shah |
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Designation
: |
Director |
|
Address
: |
805,
Rajmala 87BB, |
|
Date
of Birth/Age : |
28.10.1961 |
|
Qualification
: |
B. Com. |
|
Experience
: |
13 years |
|
Date
of Appointment : |
13.07.1995 |
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|
|
|
Name : |
Mr.
Kiritilal V. Shah |
|
Designation
: |
Director |
|
Address
: |
87-88,
Rajmala, L.J.Mehta, Mumbai – 400006 |
|
Date
of Birth/Age : |
70 years |
|
Qualification
: |
S.S.C. |
|
Experience
: |
51 years |
|
|
|
|
Name : |
Mr.
Nithaldas K Shah |
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Designation
: |
Director |
|
Address
: |
805,
Rajmala 87BB, |
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Date
of Birth/Age : |
03.06.1935 |
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Qualification
: |
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Experience
: |
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Date
of Appointment : |
26.04.2004 |
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|
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|
Name : |
Mrs.
Neeta Utpal Kapadia |
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Designation
: |
Director |
MAJOR
SHAREHOLDERS
|
Names of Shareholders |
No. of Shares |
|
Mr. Ashok
Rajgor |
43,200 |
|
Mrs.
Kalpana Shah |
55,000 |
|
Mrs. N.
Kapadia |
1,000 |
|
Mr.
Kirtilal Shah |
50,100 |
|
Mrs. N.
K. Shah |
100 |
|
Mr. Utpal
Kapadia |
500 |
|
Mrs.
Kusum Tushar Bhatt |
10 |
|
Mrs.
Kusum Sharad Bhatt |
10 |
|
Mr. Dharmistha
Rajan Bhatt |
10 |
|
Mrs.
Nirmala Bhatt |
10 |
|
Mr.
Dhiren Kanhiyalal Bhatt |
10 |
|
Mr. Rajen
Bhatt |
10 |
|
Ms. Sneha
Bhatt |
10 |
|
Mr.
Kanhiyallal Bhatt |
10 |
|
Mrs.
Lilavanti Bhatt |
10 |
|
Mr. Navin
Amamath |
10 |
As on 30.09.2005
|
Names of Shareholders |
No. of Shares |
|
Mr. Ashok
Rajgor |
|
|
Mrs.
Kalpana Shah |
54900 |
|
Mrs.
Neeta Kapadia |
1100 |
|
Mr. Utpal
Kapadia |
500 |
All the shares are held by directors or their relatives.
BUSINESS
DETAILS
|
Line
of Business : |
Importers
of Hanwha Products. |
|
|
|
|
Products
: |
Polymers, Vinayal Floorings, Interior Decorating |
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|
|
|
Agencies
Held : |
Hanwha Corporation (Hanwha Corpn.) |
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Imports
from : |
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Terms
: |
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Selling : |
Credit (45 days) terms |
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Purchasing : |
L/C (90 days) terms |
GENERAL
INFORMATION
|
Suppliers
: |
v Kishore Footwear v Hanwha Corporation v Aeroquip Cooling System v Apex Enterprises v Royal Chips Appliances Company v Shree Maat Computers |
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|
|
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Customers
: |
Wholesalers v Ahar Products v A J Engineers v A R Enterprises v ASSA Marketing Private Limited v Bharat Industrial Agencies v Carpet House v Classic Venetian Blinds v Creative Décor v v Doss Harjee & Company v Gulzar Agencies v Indana Traders v Jasmine Trading Company v Jinendra Marketing v Joshi Bhuddhilal Kanji &
Company v Kids Kemp (Toyskemp) v Kumar Distributors v Loyal Traders v Madhav Agency v Mahavir Decorators v Manohar Textile Mills v Milvin Multinationals Inc. v Multi Ax v Nathani Brothers v v Orbit Enterprises v Prakash Traders v Prime Textiles Limited v Rexine Enterprises v Raj AGencies |
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No. of
Employees : |
15 |
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|
|
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Bankers
: |
Dena
Bank, 262, Ganeshwadi, Sheikh Memon Street, Zaveri Bazar Branch, Mumbai, Maharashtra,
India |
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|
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Facilities : |
Secured Loans (As on
31.03.2004) : Ford Credit Unsecured Loans :
Rs.8.544 millions |
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Banking Relations : |
Satisfactory |
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Auditors
: |
V. Kannan
& Associates Chartered
Accountants |
|
Address:
|
207, ‘A’
Wing, Kanara Business Centre, |
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Tel.
No.: |
91-55974846 |
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Fax
No.: |
91-55974845 |
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|
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Associates/Subsidiaries
: |
Nil |
CAPITAL
STRUCTURE
Authorised
Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
150,000 |
Equity
shares |
Rs. 10 each |
Rs. 1.500 millions |
Issued,
Subscribed & Paid-up Capital :
|
No. of
Shares |
Type |
Value |
Amount |
|
150,000 |
Equity
shares |
Rs. 10 each |
Rs. 1.500 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 |
1.500 |
1.500 |
1.500 |
|
|
2] Share
Application Money |
0.000 |
0.000 |
0.000 |
|
|
3]
Reserves & Surplus |
10.818 |
7.218 |
5.029 |
|
|
4]
(Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
NETWORTH
|
12.318 |
8.718 |
6.529 |
|
|
LOAN FUNDS |
|
|
|
|
|
1]
Secured Loans |
0.000 |
0.000 |
0.088 |
|
|
2]
Unsecured Loans |
9.829 |
6.884 |
8.544 |
|
TOTAL
BORROWING
|
9.829 |
6.884 |
8.632 |
|
|
DEFERRED
TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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TOTAL
|
22.147 |
15.602 |
15.161 |
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APPLICATION OF FUNDS
|
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|
|
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FIXED ASSETS [Net Block]
|
7.253 |
7.307 |
6.998 |
|
Capital work-in-progress
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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INVESTMENT
|
0.000 |
0.000 |
0.000 |
|
DEFERREX TAX ASSETS
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES
|
|
|
|
|
|
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Inventories
|
11.494
|
7.466
|
2.494 |
|
|
Sundry Debtors
|
11.874
|
5.113
|
9.553 |
|
|
Cash & Bank Balances
|
0.257
|
0.537
|
0.528 |
|
|
Other Current Assets
|
2.780
|
1.767
|
1.253 |
|
|
Loans & Advances
|
4.800
|
3.652
|
1.915 |
Total Current Assets
|
31.205
|
18.535
|
15.743 |
|
Less : CURRENT LIABILITIES & PROVISIONS
|
|
|
|
|
|
|
Current Liabilities
|
16.011
|
9.940
|
7.280 |
|
|
Provisions
|
0.300
|
0.300
|
0.300 |
Total Current Liabilities
|
16.311
|
10.240
|
7.580 |
|
Net
Current Assets
|
14.894
|
8.295
|
8.163 |
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES
|
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
TOTAL
|
22.147 |
15.602 |
15.161 |
|
PROFIT & LOSS ACCOUNT
|
PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
|
|
Sales Turnover (including Other Income) |
106.248 |
90.735 |
74.430 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
3.599 |
2.189 |
1.660 |
|
|
Provision for Taxation |
0.000 |
0.000 |
0.195 |
|
|
Profit/(Loss) After Tax |
3.599 |
2.189 |
1.465 |
|
|
|
|
|
|
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|
Expenditures : |
|
|
|
|
|
|
Salaries, Wages, Bonus, etc. |
NA |
NA |
0.615 |
|
|
Managerial Remuneration |
NA |
NA |
0.840 |
|
|
Payment to Auditors |
NA |
NA |
0.019 |
|
|
Interest |
0.410 |
0.534 |
0.127 |
|
|
Depreciation |
0.256 |
0.294 |
0.000 |
|
|
Other Expenditure |
101.983 |
87.718 |
71.169 |
|
Total
Expenditure |
102.649 |
88.546 |
72.770 |
|
KEY
RATIOS
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
PAT / Total Income
|
(%)
|
3.38 |
2.41
|
1.96 |
|
|
|
|
|
|
Net Profit Margin
(PBT/Sales) |
(%) |
3.38 |
2.41
|
2.23 |
|
|
|
|
|
|
Return on Total Assets
(PBT/Total
Assets} |
(%) |
9.36 |
8.47
|
7.29 |
|
|
|
|
|
|
Return on Investment (ROI)
(PBT/Networth) |
|
0.29 |
0.25
|
0.25 |
|
|
|
|
|
|
Debt Equity Ratio
(Total
Liability/Networth) |
|
2.12 |
1.96
|
2.48 |
|
|
|
|
|
|
Current Ratio
(Current
Asset/Current Liability) |
|
1.91 |
1.80
|
2.07 |
LOCAL
AGENCY FURTHER INFORMATION
Fixed Assets :
Motor Car
v Air Conditioner
v Mobile Phone
v Computer
v Modem
v Office Equipments
v Fax Machine
v Furniture and Fixtures
v
As per Website
Details:
Subject was floated in 1995 with a sole view and understanding
with Hanwha Group of companies a fortune 500 co. based in
They continue with these activities even today but since last 4
years their main focus have been to promote Hanwha Pvc processed goods and
create a brand equity of "HANWHA" in Indian market. After being
associated with HANWHA (top ten group) in
Today , they have established a very good network all over
There are 3 categories
in PVC products:
- PVC Resin
- Paste Resin
- Plasticizer
Specifications:
- Ready to use doors which brighten up the appearance of
the home by simply selecting a door design and a colour.
Applications:
- Home Doors, Office Doors, Etc.
Specifications:
- Artificial Marble unlike the real Marble can be
fabricated into various shapes that are not possible.
- The colours and patterns of Artificial Marble are
completely permeate it's deapth, avoiding the disadvantages of surface
laminations or coating.
- Artificial Marble can be worked and installed using
ordinary carpenter tools, eliminating the need for special tooling or
expertise.
- Artificial Marble is stable and impermeable,it's not
affected by moisture or high temperature.
- Artificial Marble is stronger thatn natural stone and
will maintain it's shape and beauty under all conditions
Applications:
- Kitchen Countertops, Bath Vanity Tops, Tabletops,
Furniture, Shower Surrounds, Window Sills, Reception Desks, Conference
Tables, Food Bar Tops, Signage, Display, Etc.
They deal in the
following products of Polyethylene:
v LDPE
v LLDPE
v
HDPE
v EVA
v Wire & Cable
CMT
REPORT [Corruption,
Money laundering & Terrorism]
The Public Notice information has been collected from
various sources including but not limited to: The Courts,
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.40.46 |
|
|
1 |
Rs.81.55 |
|
Euro |
1 |
Rs.55.09 |
SCORE
& RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP
CAPITAL |
1~10 |
5 |
|
OPERATING
SCALE |
1~10 |
6 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS
SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--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 |
|
47 |
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%)
SCORE
& 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 |