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MIRA
INFORM REPORT
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Report Date : |
26.07.2007 |
IDENTIFICATION DETAILS
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Name : |
INTER-CITY TRADERS PRIVATE LIMITED |
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Registered Office : |
D – 1025, New Friends Colony, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
10.01.1991 |
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Com. Reg. No.: |
55-42678 |
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CIN No.: [Company
Identification No.] |
U74899DL1991PTC042678 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELI03061C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and Exporters of Garments and Jewellery. |
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 150000 |
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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 records. 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 : |
D – 1025, New Friends Colony, |
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Tel No.: |
91 – 11 – 4170 4646 |
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Fax No.: |
91 – 11 – 4170 7884 |
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E-Mail : |
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Corporate
Office: |
B – 29, Ashok Vihar, Phase – I, |
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E-Mail : |
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Factory : |
A-97/1, Okhla Industrial Area, Phase – I, |
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Tel. No.: |
91-11-41704646 / 41707881 / 2 / 3 |
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Fax No.: |
91-11-41707884 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Vijay Poddar |
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Designation : |
Director |
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Address : |
1801/2, |
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Date of Appointment : |
24.12.1993 |
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Name : |
Mr. Jagdish P. Poddar |
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Designation : |
Director |
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Address : |
1801/2, |
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Date of Appointment : |
24.12.1993 |
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Name : |
Mr. Arun Kumar Singhania |
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Designation : |
Director |
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Address : |
D-1025, New Friends Colony, |
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Date of Birth/Age : |
29.01.1955 |
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Date of Appointment : |
15.02.2007 |
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Name : |
Mr. Pawan Kumar Singhania |
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Designation : |
Director |
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Address : |
D-1025, New Friends Colony, |
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Date of Appointment : |
28.01.1999 |
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Name : |
Mr. Ashish Kumar Singhania |
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Designation : |
Director |
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Address : |
D-1025, New Friends Colony, |
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Date of Birth/Age : |
13.09.1977 |
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Date of Appointment : |
22.07.2006 |
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Name : |
Ms. Usha Devi |
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Designation : |
Director |
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Address : |
D-1025, New Friends Colony, |
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Date of Birth/Age : |
13.01.1957 |
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Date of Appointment : |
01.11.2004 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Neelam Devi |
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850 |
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Shanti Devi |
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1400 |
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Rajni Aggarwal |
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1000 |
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Onyx Exim and Sales Limited |
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900 |
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Shimmer Marketing Private Limited |
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800 |
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Krishana Cinema India Private Limited |
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800 |
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Umesneh Securities Private Limited |
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850 |
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Pun Milk and Foods Limited |
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800 |
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Kohinoor Oil Mills Limited |
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850 |
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Performance Trading and Investments Private Limited |
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1000 |
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Rahul Finlease Private Limited |
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1500 |
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Shivam Softech Limited |
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1000 |
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Maa Shakumbhari Stone Creshes Private Limited |
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1000 |
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Garg Finvest Private Limited |
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1000 |
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Madan Electronics Private Limited |
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1000 |
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Rizzer Private Limited |
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1000 |
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M. K. Dall Milling Private Limited |
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1000 |
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Bul Chemicals Limited |
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1000 |
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Globetech Solution Private Limited |
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1000 |
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Rapit Impex Private Limited |
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1000 |
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Goldcorp Security Private Limited |
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1000 |
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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 : |
Manufacturers and Exporters of Garments and Jewellery. |
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Products : |
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GENERAL INFORMATION
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Customers : |
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Bankers : |
UTI Bank Limited Chandni Chowk, |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Sharma Goel and Company Chartered Accountants |
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Address : |
A-47, Lower Ground Floor, Hauz Khas, |
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Tel No.: |
91 – 11 – 4165 5400 |
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Fax No.: |
91 – 11 * 2696 7365 |
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E-Mail: |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100,000 |
Equity Shares |
RS. 100/- each |
Rs. 10.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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44,494 |
Equity Shares |
RS. 100/- each |
Rs. 4.494
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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4.494 |
4.494 |
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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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33.932 |
33.375 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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38.426 |
37.869 |
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LOAN FUNDS |
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1] Secured Loans |
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1.480 |
0.000 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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1.480 |
0.000 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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39.906 |
38.869 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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3.769 |
1.543 |
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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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14.779 |
11.600 |
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DEFERREX TAX ASSETS |
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0.054 |
0.056 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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11.180 |
18.159 |
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Sundry Debtors |
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23.480 |
15.133 |
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Cash & Bank Balances |
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0.241 |
4.822 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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5.321 |
6.869 |
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Total
Current Assets |
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40.222 |
44.983 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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18.051 |
19.848 |
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Provisions |
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0.867 |
0.465 |
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Total
Current Liabilities |
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18.918 |
20.313 |
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Net Current Assets |
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21.304 |
24.670 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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39.906 |
38.869 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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150.904 |
98.205 |
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Other Income |
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1.199 |
1.020 |
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Total Income |
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152.103 |
99.225 |
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Change in Stock |
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(6.979) |
1.657 |
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Profit/(Loss) Before Tax |
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0.961 |
1.155 |
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Provision for Taxation |
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0.404 |
0.471 |
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Profit/(Loss) After Tax |
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0.557 |
0.684 |
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FOB Value |
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11.292 |
NA |
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Expenditures : |
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Total Expenses |
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143.633 |
99.381 |
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Financial Charges |
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0.173 |
0.035 |
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Depreciation |
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0.357 |
0.311 |
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Total Expenditure |
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144.163 |
99.727 |
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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 |
(%) |
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0.37 |
0.69
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Net Profit Margin (PBT/Sales) |
(%) |
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0.64 |
1.18
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Return on Total Assets (PBT/Total Assets} |
(%) |
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2.18 |
2.48
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Return on Investment (ROI) (PBT/Networth) |
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0.03 |
0.03
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Debt Equity Ratio (Total Liability/Networth) |
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0.53 |
0.54 |
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Current Ratio (Current Asset/Current Liability) |
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2.13 |
2.21 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges
Report as per Registry
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Name of the company |
INTERCITY
TRADERS PRIVATE LIMITED |
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Presented By |
Mr. Arun Kumar
Singhania, Director |
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1) Date and description of instrument creating the change |
Under taking for
Bills purchased / Discounted / Negotiated Inland / Foreign [Cash /
Documentary] Inland / Foreign Agreement
23.11.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 2.940
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 |
Prime Security : Hypothecation of
all the goods, stock in trade consisting stock including ram materials, stock
in process, cash and other current assets whatsoever All the tangible
movable plant and machinery, furniture, fixture, fittings computers and other
accessories, vehicles together with spares tools and accessories and all other
articles, equipments and things and the all other movable goods and assets All the Borrowers
present and future book debts, outstanding moneys, receivables claims, bills
which are now due and owing or which may at any time hereinafter during the
continuance of this security become due and owing to the borrower in the
course of its business by any persons, firm, company or by the Government or
any local or public body or authority Collateral
Security Equitable
mortgage of residential property on ground floor, situated at Plot No. 1025,
Block – D, New Friends Colony, |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The above is to
secure Bills Discounting Limit of Rs. 2.940 Millions |
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5) Name and Address and description of the person entitled to the charge. |
UTI Bank Limited Chandni Chowk, |
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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. |
Introduction
Intercity Traders is an extension of the parent company TULSI RAM JUGAL
KISHORE which is trading in greige fabric since over 75 years.
ICT., is name synonymous with originality, creativity and quality. They are engaged in
trading of greige fabrics. They manufacture and export an exclusive range of
apparel for women and wide variety of jewellery form the heart of
Profile
They are an expert house that keeps abreast with the world’s latest creations
and quality standards with practical business sense. They make efforts to
ensure that their relationship is smooth and everlasting.
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
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Indian Rupees |
|
US Dollar |
1 |
Rs.40.30 |
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|
1 |
Rs.82.97 |
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Euro |
1 |
Rs.55.64 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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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 |
6 |
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--LEVERAGE |
1~10 |
6 |
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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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48 |
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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