MIRA
INFORM REPORT
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Report Date : |
07.07.2007 |
IDENTIFICATION DETAILS
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Name : |
VACOURO LEATHER
INDIA PRIVATE LIMITED |
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Registered Office : |
5 B, Pocket – B,
Park View Apartment, Mayur Vihar, Phase – 3, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
21.10.1999 |
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Com. Reg. No.: |
55-102074 |
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CIN No.: [Company
Identification No.] |
U19129DL1999PTC102074 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELV03072G DELV04761B |
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PAN No.: [Permanent
Account No.] |
AABCV1786F |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
The Company is engaged
in the business of PU Lining, Non-Woven Solvent Activated Sheet and Hot Melt
Adhesive. |
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 8000 |
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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 an
established dealer. Trade relations are 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 : |
5 B, Pocket – B,
Park View Apartment, Mayur Vihar, Phase – 3, |
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E-Mail : |
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Website : |
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Corporate Office : |
33 A (Order 30A),
Dhawal Giri, Sector 11, Noida – 201 301, Uttar Pradesh |
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Tel. No.: |
91-120-2538045 /
2556904 / 3053165 / 2538045 |
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Fax No.: |
91-120-3053165/
91-11-22614559 |
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Branch: |
C – 152,
Sarvodaya Enclave, |
DIRECTORS
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Name : |
Mr. Sanjeev Kumar |
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Designation : |
Director |
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Address : |
M/s Adarsh Khad, |
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Date of Birth : |
30.08.1960 |
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Date of Appointment : |
02.12.2000 |
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Name : |
Mr. Natarajan
Rajasekhar |
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Designation : |
Director |
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Address : |
178, Overseas
Apartment, Vasundhara Enclave, |
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Date of Appointment : |
20.10.1999 |
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Date of Ceasing : |
01.01.2002 |
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Name : |
Mr. Rajeshwari
Rajasekhar |
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Designation : |
Director |
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Address : |
178, Overseas
Apartment, Vasundhara Enclave, |
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Date of Appointment : |
20.11.2000 |
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Date of Ceasing : |
01.01.2002 |
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Name : |
Mr. Anju Rastogi |
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Designation : |
Director |
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Address : |
Jawhar Ganj, District
Styana, Buland Shehar, Uttar Pradesh. |
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Date of Appointment : |
20.11.2000 |
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Date of Ceasing : |
01.01.2002 |
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Name : |
Mrs. Kanak Lata |
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Designation : |
Director |
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Address : |
Jawhar Ganj, District
Styana, Buland Shehar, Uttar Pradesh. |
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Date of Appointment : |
20.11.2000 |
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Date of Ceasing : |
01.01.2002 |
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Name : |
Mr. Anil Kalia |
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Designation : |
Director |
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Address : |
27 A, Pocket A- 1,
Mayur Vihar, Phase – III, Delhi – 110 096. |
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Date of Appointment : |
01.02.2001 |
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Date of Ceasing : |
31.03.2003 |
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Name : |
Mrs. Bharti Kalia
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Designation : |
Director |
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Address : |
27 A, Pocket A- 1,
Mayur Vihar, Phase – III, Delhi – 110 096. |
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Date of Appointment : |
01.02.2001 |
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Date of Ceasing : |
07.06.2002 |
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Name : |
Mr. Kethan Vyas |
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Designation : |
Director |
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Address : |
EF – 8, R. 2nd
Floor, Inderpun, 91-98100 57344 |
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Date of Birth : |
07.09.1969 |
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Date of Appointment : |
31.03.2003 |
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Name : |
Mr. Anoop Asthana |
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Designation : |
Director |
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Address : |
51/64, |
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Date of Appointment : |
01.07.2002 |
KEY EXECUTIVES
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Name : |
Mr. N. Sriram |
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Designation : |
Sales Manager : Major Accounts |
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Mobile No.: |
91 98 181 62382 |
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E-Mail : |
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Name : |
Mr. Sanjeev Manhas |
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Designation : |
Area Sales Manager |
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Mobile No.: |
91 98 713 36508 |
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E-Mail : |
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Name : |
Mr. Sanjeev Kumar |
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Designation : |
Director : Operations |
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Address : |
125/ 17 'U' – Block, Govind
Nagar, |
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Mobile No.: |
91 93 350 14917 |
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E-Mail : |
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Name : |
Mr. Vivek Saxena |
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Designation : |
Sales Manager : |
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Mobile No.: |
91 94 151 25572 |
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E-Mail : |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Rajeshwari
Rajasekhar |
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375 |
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Natarajan
Rajasekhar |
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350 |
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Sanjeev Kumar |
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500 |
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Anju Rastogi |
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500 |
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Kanak Lata |
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275 |
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Anil Kalia |
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250 |
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Bharti Kalia |
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250 |
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M/s NVG ( |
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15000 |
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Kautiya
Merchantile & Services (P) Limited |
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15000 |
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Ganpati
Contractors (P) Limited |
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15000 |
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TOTAL |
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47500 |
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Equity Share Breakup
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Category |
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Percentage of
Holding |
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Directors of relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
The Company is
engaged in the business of PU Lining, Non-Woven Solvent Activated Sheet and Hot
Melt Adhesive. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
10 |
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Bankers : |
Greater Kailash Part – 2,
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Kumar Arora &
Associates Charted
Accountants |
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Address : |
415, A. J.
Chambers, |
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Tel. No.: |
91-11-25812635 |
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Fax No.: |
91-11-25749406 |
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E-Mail : |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
47500 |
Equity Shares |
Rs. 10/- each |
Rs. 0.475 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.475 |
0.475 |
0.475 |
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2] Share Application Money |
1.045 |
0.815 |
0.815 |
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3] Reserves & Surplus |
0.601 |
0.477 |
0.270 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2.121 |
1.767 |
1.560 |
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LOAN FUNDS |
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1] Secured Loans |
0.662 |
0.469 |
0.021 |
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2] Unsecured Loans |
3.125 |
2.231 |
2.005 |
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TOTAL BORROWING |
3.787 |
2.700 |
2.026 |
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DEFERRED TAX LIABILITIES |
0.056 |
0.046 |
0.024 |
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TOTAL |
5.964 |
4.513 |
3.610 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.039 |
0.740 |
0.227 |
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INVESTMENT |
0.040 |
0.035 |
0.034 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
3.353
|
1.358 |
2.271 |
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Sundry Debtors |
3.006
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3.488 |
3.340 |
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Cash & Bank Balances |
0.649
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1.080 |
0.639 |
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Loans & Advances |
0.711
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0.963 |
0.620 |
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Total Current Assets |
7.719
|
6.889 |
6.870 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Current Liabilities |
2.506
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3.048 |
3.438 |
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Provisions |
0.328
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0.112 |
0.093 |
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Total Current Liabilities |
2.834
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3.160 |
3.531 |
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Net Current Assets |
4.885
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3.729 |
3.339 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.009 |
0.010 |
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TOTAL |
5.964 |
4.513 |
3.610 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
14.773 |
18.092 |
18.023 |
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Total Income |
14.773 |
18.092 |
18.023 |
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Profit/(Loss) Before Tax |
0.350 |
0.342 |
0.285 |
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Provision for Taxation |
0.226 |
0.136 |
0.118 |
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Profit/(Loss) After Tax |
0.124 |
0.206 |
0.167 |
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Imports : |
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Total Imports |
8.360 |
5.758 |
NA |
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Expenditures : |
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Total Expenditure |
16.249 |
17.722 |
17.716 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
0.83
|
1.14 |
0.93 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.63
|
1.89 |
1.58 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.99
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4.46 |
3.99 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.16
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0.19 |
0.18 |
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Debt Equity Ratio (Total Liability/Networth) |
|
3.12
|
3.31 |
3.56 |
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Current Ratio (Current Asset/Current Liability) |
|
2.72
|
2.18 |
1.95 |
LOCAL AGENCY FURTHER INFORMATION
The Registered Office of the company has been shifted from 5 B, Pocket – B, Parkview Apartment, Mayur
Vihar, Phase – III, New Delhi – 110 096 to the present address w.e.f.
15.06.2006.
Fixed
Assets:
Computer
Car
Fax
Machine
Motor
Bike
Inventor
Refrigerator
AS PER WEBSITE
Subject has been involved with the footwear and leather
goods industry since the year 2000. Sensing a need for high quality, fashionable
raw materials meeting international standards, they tied up with the CRESPI
GROUP,
The company is proud to be associated with M/s SALAMANDER
Companies Represent
·
GIOVANNI CRESPI -
·
BCSLC (
·
SALAMANDER BONDED
LEATHER -
·
ESSEBI -
·
ZAHONERO -
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 |
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|
1 |
Rs.81.29 |
|
Euro |
1 |
Rs.54.96 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
|
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 |
|
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 |
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