MIRA
INFORM REPORT
|
Report Date : |
25.06.2007 |
IDENTIFICATION DETAILS
|
Name : |
KHUBSONS ELECTRONICS PRIVATE LIMITED |
|
|
|
|
Registered Office : |
Shop No.544-545, Lajpat Rai Market, Delhi-110006 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
09.04.2003 |
|
|
|
|
Com. Reg. No.: |
55-119826 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U51395DL2003PTC119826 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELK06601A |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AACCK2724L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturers, Importers and Exporters of Electronic Goods. |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average/normal. |
Small |
|
Maximum Credit Limit : |
USD 2000 |
|
|
|
|
Status : |
Small company |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively small company having satisfactory track
records. Directors are reported as experienced and respectable businessmen.
Trade relations are reported as fair. Business is active. Payments are
however reported as usually correct and as per commitments. The company can be considered for small business dealings at usual
trade terms and conditions. |
LOCATIONS
|
Registered Office : |
Shop No.544-545, Lajpat Rai Market, Delhi-110006, |
|
Tel. No.: |
91-23860418/ 23865588/ 23867788/ 23863524/ 23868758 |
|
Mobile No.: |
91-9311100777/ 9810000777 |
|
Fax No.: |
91-11-23866688 |
|
E-Mail : |
DIRECTORS
|
Name : |
Mr. Lalit Khubchandani |
|
Designation : |
Director |
|
Address : |
E-279, Naraina Vihar, New Delhi-110028 |
|
Date of Birth/Age : |
10.08.1974 |
|
Date of Appointment : |
09.04.2003 |
|
|
|
|
Name : |
Mr. Bharat Khubchandani |
|
Designation : |
Director |
|
Address : |
E-279, Naraina Vihar, New Delhi-110028 |
|
Date of Birth/Age : |
25.02.1976 |
|
Date of Appointment : |
09.04.2003 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
|
Names of Shareholders |
No. of Shares |
Percentage of
Holding |
|
Mr. Lalit Khubchandani |
5000 |
|
|
Mr. Bharat Khubchandani |
5000 |
|
All the shares are held by directors or their relatives.
BUSINESS DETAILS
|
Line of Business : |
Manufacturers, Importers and Exporters of Electronic Goods. |
|
|
|
|
Products : |
VCD / DVD Players, Multi-Brand Radios, Speaker Columns,
Home Theatres, Stereo Cassette Players. |
|
|
|
|
Exports : |
|
|
Countries : |
Middle East, African & European Countries, |
|
|
|
|
Imports : |
|
|
Countries : |
|
GENERAL INFORMATION
|
Bankers : |
©
Centurion Bank of Punjab Limited ©
ICICI Bank Limited |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Raj K Jain and Associates Chartered Accountants |
|
Address : |
A-1/ 16, Anand Vihar, Sham Nath Marg, Civil Lines, |
|
Tel. No. : |
91-11-23970777 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.100 |
0.100 |
|
|
2] Reserves & Surplus |
|
0.464 |
0.318 |
|
|
NETWORTH |
|
0.564 |
0.418 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.742 |
1.485 |
|
|
2] Unsecured Loans |
|
1.520 |
0.520 |
|
|
TOTAL BORROWING |
|
2.262 |
2.005 |
|
|
|
|
|
|
|
|
TOTAL |
|
2.826 |
2.423 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
1.507 |
2.009 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
1.223 |
1.122 |
|
|
Sundry Debtors |
|
3.966 |
4.348 |
|
|
Cash & Bank Balances |
|
2.508 |
1.011 |
|
|
Loans & Advances |
|
2.677 |
0.548 |
|
Total
Current Assets |
|
10.374 |
7.029 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
8.739 |
6.467 |
|
|
Provisions |
|
0.320 |
0.155 |
|
Total
Current Liabilities |
|
9.059 |
6.622 |
|
|
Net Current Assets |
|
1.315 |
0.407 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.004 |
0.007 |
|
|
|
|
|
|
|
|
TOTAL |
|
2.826 |
2.423 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
Sales Turnover |
|
36.646 |
37.367 |
|
Other Income |
|
1.978 |
1.067 |
|
Total Income |
|
38.624 |
38.434 |
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
0.431 |
0.643 |
|
Provision for Taxation |
|
0.285 |
0.035 |
|
Profit/(Loss) After Tax |
|
0.146 |
0.108 |
|
|
|
|
|
|
Value of Exports |
|
17.138 |
NA |
|
|
|
|
|
|
Total Expenditure |
|
37.774 |
37.691 |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
|
0.38 |
0.28 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
1.11 |
1.67 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
3.62 |
7.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.76 |
1.53 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
20.07 |
20.64 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.14 |
1.06 |
LOCAL AGENCY FURTHER INFORMATION
Website Details :
Subject is the premier importer, exporter and marketer of globally renowned Consumer Electronic products. Unambiguously and uniquely positioned as a dominant niche marketer representing various known brands in the country. They offer solutions in the areas of logistics and supply chain management, product launch and promotional strategies, consumer behavior analysis, marketing research and information system to name a few.
The present line of production comprises of products such as VCD/DVD players, Home Theatres, Amplifiers,
Multi-Band Tuners, P.A. Equipments, Color Televisions, Cassette Players,
Car-Stereos, Hi-Fi Speaker Systems, Radios (With the Brand Name Takai Radios)
and other Domestic Electronic Products.
The company benefits from a professional and highly motivated sales and
merchandising team. Regular training is imparted to the team to sharpen their
marketing, selling and merchandising skills. The company has a sales force of
dealers and distributors all over the country covering nearly all major cities.
The company has over a decade of experience in export of electronic goods like VCD/DVD players, Home Theatres, Amplifiers,
Multi-Band Tuners, P.A. Equipments, Color Televisions, Cassette Players,
Car-Stereos, Hi-Fi Speaker Systems, Radios (With the Brand Name Takai Radios)
and other Domestic Electronic Products and is able to offer premier
quality products and expertise in network distribution to their clients in
South Africa, Middle East and European Union.
With Warehousing facilities conveniently located at various ports across
India, they are able to consistently deliver high quality and value added VCD/DVD players, Home Theatres, Amplifiers,
Multi-Band Tuners, P.A. Equipments, Color Televisions, Cassette Players,
Car-Stereos, Hi-Fi Speaker Systems, Radios (With the Brand Name Takai Radios)
and other Domestic Electronic Products to their customers. The company
provides total and comprehensive logistics solutions from pre-importation to a
fully integrated real-time inventory management control module. The system is
constantly updated on stock levels, sales statistics and operational controls
of deliveries to various distributors.
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.40.71 |
|
|
1 |
Rs.81.24 |
|
Euro |
1 |
Rs.54.63 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
31 |
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 |
|