MIRA
INFORM REPORT
|
Report Date : |
26.06.2007 |
IDENTIFICATION DETAILS
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Name : |
MARS INDUSTRIES PRIVATE LIMITED |
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Registered Office : |
A-88, Road No- 2, Mahipalpur
Extension, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
18.05.1995 |
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Com. Reg. No.: |
55-68307 |
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CIN No.: [Company
Identification No.] |
U74899DL1995PTC068307 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
RTKM01618B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of door locks, door handles, wholesale
door hardware, door fittings
and other builder hardware
products. |
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 130000 |
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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 : |
A-88,
Road No- 2, Mahipalpur Extension, |
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Tel. No.: |
91-11- 26783504 to
26783506 |
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Fax No.: |
91-11- 26783500 |
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E-Mail : |
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Website : |
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Factory 1 : |
87-90
Udyog Vihar, Phase - VI Gurgaon, Haryana ( |
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Tel. No.: |
91-124- 4033111 |
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Fax No.: |
91-124-4033347 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Rajesh Kumar Bansal |
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Designation : |
Managing Director |
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Address : |
DJ-1/48, DLF Phase – II, Gurgaon – 122002, |
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Date of Birth/Age : |
27.07.1958 |
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Date of Appointment : |
18.05.1995 |
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Name : |
Mr. Subhash Chand Bansal |
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Designation : |
Managing Director |
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Address : |
D-17, |
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Date of Birth/Age : |
11.11.1956 |
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Date of Appointment : |
18.05.1995 |
KEY EXECUTIVES
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Name : |
Mr. Sanjeev Khurana |
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Designation : |
General Manager, Marketing |
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Name : |
Mr. Mohd. Ali Shikoh |
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Designation : |
General Manager, Institution
Sales |
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Name : |
Mr. Sukrit Bansal |
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Designation : |
Executive Director |
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Name : |
A. K. Popli and Company |
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Designation : |
Company Secretary |
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Address : |
Off : 302, C- 2/4, Pragati Market, Ashok Vihar, Phase – II, Resi : A-10/29, MIG Flats, Sector – 18, Rohini, |
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Email : |
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Tel No. : |
91-11-27431426 / 27418378 / 27852093 |
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Mobile No. : |
91-9811834710 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Rekha Bansal |
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115200 |
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Rajesh Kumar Bansal |
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267600 |
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Subhash Chand Bansal |
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162600 |
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Niren Bansal |
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141600 |
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Ashok Kumar Bansal |
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104500 |
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Ashok Minda |
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335100 |
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Subhash Chand Bansal - HUF |
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45000 |
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Ashok Kumar Bansal – HUF |
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90000 |
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Asha Devi Bansal |
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30600 |
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Bimla Bansal |
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16000 |
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Suraj Bhan Sharma and Sons – HUF |
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4500 |
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Ashok Minda – HUF |
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57000 |
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Delhi Homes Private Limited |
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107500 |
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Savitri Minda |
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100 |
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S. L. Minda and Sons HUF |
|
100 |
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Takshay Bansal |
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76000 |
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Saurabh Bansal |
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88800 |
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Sukrit Bansal |
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362500 |
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Akash Minda |
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30500 |
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Rajesh Marketing Services Limited |
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90000 |
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Jigyasa Bansal |
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42000 |
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Sonakshi Bansal |
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42000 |
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Delhi Shelters Limited |
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180000 |
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Total |
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2389200 |
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Category |
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Percentage of
Holding |
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Bodies corporate |
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16.00 % |
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Directors of relatives of directors |
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84.00 % |
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Total |
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100.00
% |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of door locks, door handles, wholesale
door hardware, door fittings
and other builder hardware
products. |
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Products: |
© Brass Handles © Pull Handles © Stainless Steel Handles © Locks © |
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Exports: |
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Countries: |
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Imports: |
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Products: |
Door locks, door handles, wholesale door hardware, door fittings and other builder hardware products. |
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Countries: |
European Countries |
PRODUCTION STATUS
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Particulars |
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Unit |
Actual
Production |
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Locks, Handles, Door closer, Hinges |
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Pieces |
705104 |
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GENERAL INFORMATION
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Customers : |
·
ITC Hotels ( ·
Ansals Hotels Limited ( ·
B.L. Kashyap & Sons Limited ( ·
C.P. Kukreja Arctitects ( ·
Coco Cola India Limited ·
Modi Xerox (Gurgaon) ·
Ansals Properties & Industries
Limited ·
·
Escorts Heart Institute & ·
Batra Hospitals ( ·
Radiant Fire Doors Limited ·
Larsen & Turbo (Chennai) ·
Fortis HealthCare Limited (Mohali) ·
Civil Services Society ( ·
Talathi N. Panthakey (Mumbai) ·
IBM India Limited ·
Statesman House ( ·
Ashoka Hotels ( ·
Jai Prakash Associates ( ·
Omaxe Constructions (Gurgaon, ·
NEI Properties Limited ( ·
Grand Hyatt ( ·
JMC Projects (Boroda) ·
Ranbaxy Speciality Clinics ·
Conwood (Mumbai) ·
Smithkline Beechan (Gurgaon) ·
DLF Universal Limited Gurgaon ·
Mitsui Kensetsu (i) P. Limited ( ·
Lokhandwala Constructions (Mumbai) ·
Flex India Limited (Noida) ·
Mitsubishi India Limited ( ·
·
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No. of Employees : |
200 |
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Bankers : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Saria Gupta and Company Chartered Accountants |
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Address : |
10174/1A, |
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Tel No.: |
91-11-25733774 / 25733775 |
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CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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3000000 |
Equity Shares |
Rs. 10/- each |
Rs. 30.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2389200 |
Equity Shares |
Rs. 10/- each |
Rs. 23.892
Millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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23.892 |
14.906 |
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2] Share Application Money |
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3.740 |
8.986 |
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3] Reserves & Surplus |
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5.947 |
4.903 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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33.579 |
28.795 |
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LOAN FUNDS |
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1] Secured Loans |
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23.960 |
11.811 |
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2] Unsecured Loans |
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48.722 |
33.077 |
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TOTAL BORROWING |
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72.682 |
44.888 |
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DEFERRED TAX LIABILITIES |
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1.342 |
1.210 |
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TOTAL |
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107.603 |
74.893 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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45.761 |
39.175 |
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Capital work-in-progress |
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4.985 |
1.780 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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19.670 |
12.854 |
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Sundry Debtors |
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57.555 |
30.197 |
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Cash & Bank Balances |
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4.054 |
11.440 |
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Other Current Assets |
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0.226 |
0.429 |
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Loans & Advances |
|
7.278 |
4.791 |
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Total
Current Assets |
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88.783 |
59.711 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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30.305 |
25.143 |
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Provisions |
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1.621 |
0.630 |
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Total
Current Liabilities |
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31.926 |
25.773 |
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Net Current Assets |
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56.857 |
33.938 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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107.603 |
74.893 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2006 |
31.03.2005 |
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Sales Turnover |
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200.465 |
148.715 |
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Other Income |
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Total Income |
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200.465 |
148.715 |
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Profit/(Loss) Before Tax |
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2.817 |
2.762 |
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Provision for Taxation |
|
1.755 |
0.961 |
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Profit/(Loss) After Tax |
|
1.062 |
1.801 |
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Expenditures : |
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Depreciation & Amortization and Interest |
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9.247 |
4.546 |
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Other Expenditure |
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188.401 |
141.407 |
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Total Expenditure |
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197.648 |
145.953 |
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KEY RATIOS
|
PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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0.52 |
1.21 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.87 |
0.64 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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1.30 |
1.96 |
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Return on Investment (ROI) (PBT/Networth) |
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|
0.05 |
0.03 |
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Debt Equity Ratio (Total Liability/Networth) |
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3.12 |
2.45 |
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Current Ratio (Current Asset/Current Liability) |
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2.78 |
2.32 |
LOCAL AGENCY FURTHER INFORMATION
The Registered Office of the company has been shifted from H-6, Ahauz
Khas,
Bankers Charges
Report as per Registry
|
Name of the company |
MARS INDUSTRIES
PRIVATE LIMITED |
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Presented By |
Oriental Bank of
Commerce, Hauz Khas, |
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1) Date and description of instrument creating the change |
Agreement for hypothecation
of assets dated 09.08.2004 registered on 31.08.2004 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 11.000
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 |
First charge over
entire fixed assets of the company plant and machinery and other fixed
assets. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest – 1 %
p.a. over the PLR with a minimum of 12 % p.a. with monthly rest. 2 % Penal
Interest in case of default. |
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5) Name and Address and description of the person entitled to the charge. |
Oriental Bank of Commerce, Hauz Khas, |
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6) Date and brief description of instrument modifying the charge |
09.11.2005
agreement of hypothecation for Hypothecation of assets |
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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. |
Limit increased
from Rs. 11.000 Millions to Rs. 18.000 Millions |
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This form is for |
Creation of
charge |
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Corporate identity
number of the company |
U74899DL1995PTC068307 |
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Name of the
company |
MARS INDUSTRIES PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
A-88,
Road No- 2, Mahipalpur Extension, |
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Type of charge |
Immovable
Property Book Debts Movable Property |
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Particular of
charge holder |
Punjab National
Bank Ahimsa Bhavan,
New Rajinder Nagar, |
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Nature of
description of the instrument creating or modifying the charge |
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Date of
instrument Creating the charge |
24.04.2007 |
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Amount secured by
the charge |
Rs. 68.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of interest : LC DA / DP basis
[Rs 1.500 Millions] - @BPLR per annuam or such rate as prescribed by the bank
ILC Rs 1.500
Millions – Commission Basis Term Loan Rs.
36.000 Millions @ BPLR 50 % + Term premia 0.50 p.a. presently 13 % p.a. Cash credit
facility Rs. 21.000 Millions - @ 12.5 % p.a. Cash Credit
facility Rs. 8.000 Millions - @ 12.5
% p.a. Term of repayment : Term loan Rs.
36.000 Millions Loan is to be repaid in 84 monthly installments of Rs. 0.429
Millions first installment to commence from October 2007. LC DA / DP basis
[Rs 1.500 Millions] – On Demand ILC Rs 1.500
Millions – On Demand Cash credit
facility Rs. 21.000 Millions – On Demand Cash Credit
facility Rs. 8.000 Millions – On
Demand Margin Stocks 25 % Book Debts 40 % Extent and operation of the charge – 100 %
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Short particulars
of the property charged |
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As per website
Established in 1995, Mars Industries Private Limited has already carved for itself, an enviable niche in the Indian & export market. Dorset India are manufacturers of door locks, door handles, wholesale door hardware, door fittings and other builder hardware products of superior quality.
Backed by world class technology & driven by a dedicated team of dynamic
professionals, the Company manufactures international standard door fittings
and door hardware products ranging from mortise locks, dead bolts, lever
locks, furniture locks and pin tumbler cylinders to door handles, pull handles
and hardware for builders.
At Mars Industries, excellence is a way of life, evident in the quality and
design of every
Spurred by success and fired by the will to surpass, the Company strives continuously towards
Further upgradation, constantly assimilating and absorbing
the latest in international technology, to meet growing consumer demands. A
strong belief in people power has led the company to make major investments in
training and team work development. In fact, regular welfare measures are
conducted to faster a harmonious work culture.
Aided by an impressive dealer network spanning in all metropolitan cities in
Today, on the threshold of a bright future, Mars Industries looks ahead with
confidence. Ready to take on new challanges, and reach new horizons. In a
persistent quest to bring you the best. Mars industries is an ISO 9002
certified company.
Distributors
- Ahmedabad
- Cochin/Calicut
- Mumbai
Dealers
Rest Of
Panjim
Pune
Ahmedabad
Jalandhar
Tamil Nadu
Chennai
Erode
Trichy
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.40.81 |
|
|
1 |
Rs.81.57 |
|
Euro |
1 |
Rs.54.91 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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 |
|