MIRA INFORM REPORT

 

 

Report Date :

28.04.2007

 

IDENTIFICATION DETAILS

 

Name :

MONARCH INTERNATIONAL

 

 

Registered Office :

Vikas Plaza,3rd Floor, 2 Local Shopping Centre, Kalkaji, New Delhi - 110 019

 

 

Country :

India

 

 

Financials (as on) :

31.03.2006

 

 

Date of Incorporation :

1978

 

 

IEC No.:

0501052917

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

DELMO9666G

 

 

PAN No.:

[Permanent Account No.]

ABKPS7166A

 

 

Legal Form :

Sole Proprietory concern

 

 

Line of Business :

Trader of Refractory Raw Materials, Industrial Textiles, Iron Ore Steel, Ferro Alloys, Coal and Coke, Chemicals and Helicopter, etc.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

A

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Maximum Credit Limit :

USD 120000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

Comments :

Subject is a well established concern having satisfactory track. Trade relations are fair. Payments are correct and as per commitments.

 

The concern can be considered normal for business dealings at usual trade terms and conditions.

 

 

LOCATIONS

 

Registered Office :

Vikas Plaza,3rd Floor, 2 Local Shopping Centre, Kalkaji, New Delhi - 110 019, India

Tel. No.:

91-11-26226880 / 82

Fax No.:

91-11-26227953

E-Mail :

admin@monarchinternational.biz

Website :

http://www.monarchinternational.biz

Area :

3500 sq. fts. (Owned)

 

 

Branches :

Kolkata, P-173-B, C.I. T. Scheme, VII M, Nazrul Islam Avenue, Kolkata

Tel. No.:

91-33-23553386

Fax No.:

91-33-23553385

Area :

200 sq. fts. (Rented)

 

 

Branches :

39/2, JRS Building, 12th Cross Vinayak Nagar, Annasandra Palaya, H.A.L.(Post), Bangalore

Tel. No.:

91-80-55373166

Location :

600 sq. fts. (Rented)

 

 

SOLE PROPRIETOR

 

Name :

Mr. Ashok Sawhny

Designation :

Proprietor

Address :

112, Sunder Nagar, New Delhi

Date of Birth/Age :

70 years

Qualification :

Eco. (Hon.)

Experience :

32 years

 

 

KEY EXECUTIVES

 

Name :

Col. Sanjeev Kumar Choudhary

Designation :

Chief Executive Officer

 

 

BUSINESS DETAILS

 

Line of Business :

Trader of Refractory Raw Materials, Industrial Textiles, Iron Ore Steel, Ferro Alloys, Coal and Coke, Chemicals and Helicopter, etc.

 

 

Imports :

 

Countries :

Russia, Turkey, South Africa, China, Italy, Brazil, Japan and Korea

 

 

Terms :

 

Selling :

L/C (60 days)

 

 

GENERAL INFORMATION

 

Customers :

End Users

 

 

No. of Employees :

60

 

 

Bankers :
  • ABN Amro Bank NV, Hansalaya Building, 15, Barakhamba Road, New Delhi – 110001
  • Union Bank of India, 52, Sunder Nagar, New Delhi - 110003

 

 

Facilities :

--

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Mr. Kamal Arora

Chartered Accountants

Address :

D-29, Near LGF, Jangpura Extn., New Delhi – 110014

Mobile No.:

91-9313119147

Fax No.:

91-11-24318275

E-Mail :

karora@gmail.com

 

 

Associates/Subsidiaries :

Monarch International Travel Services

Ground Floor, 5, L. S. C. Kanishka Complex, Kalkaji, New Delhi – 19

Line of Business: Tour Operator

 

 

CAPITAL STRUCTURE

 

Capital Investment :

 

Owned :

Rs. 31.489 millions

Borrowed :

0.000

Total :

Rs. 31.489 millions

 

 

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

 

31.489

31.424

2] Share Application Money

 

0.000

0.000

3] Reserves & Surplus

 

0.000

0.000

4] (Accumulated Losses)

 

0.000

0.000

NETWORTH

 

31.489

31.424

LOAN FUNDS

 

 

 

1] Secured Loans

 

7.440

7.264

2] Unsecured Loans

 

0.000

0.000

TOTAL BORROWING

 

7.440

7.264

DEFERRED TAX LIABILITIES

 

0.000

0.000

 

 

 

 

TOTAL

 

38.929

38.688

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

 

12.259

10.723

Capital work-in-progress

 

 

 

 

 

 

 

INVESTMENT

 

24.650

28.974

DEFERREX TAX ASSETS

 

 

 

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
 

0.000

0.000

 

Sundry Debtors
 

34.959

0.000

 

Cash & Bank Balances
 

9.286

6.173

 

Other Current Assets
 

0.960

0.488

 

Loans & Advances
 

4.481

3.438

Total Current Assets
 

49.686

10.099

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Current Liabilities
 

47.666

11.108

 

Provisions
 

0.000

0.000

Total Current Liabilities
 

47.666

11.108

Net Current Assets
 

2.020

[1.009]

 

 

 

 

MISCELLANEOUS EXPENSES

 

0.000

0.000

 

 

 

 

TOTAL

 

38.929

38.688

 

PROFIT & LOSS ACCOUNT

 

PARTICULARS

 

 

31.03.2006

31.03.2005

Sales Turnover

 

14.115

54.564

Other Income

 

0.742

7.429

Total Income

 

14.857

61.993

 

 

 

 

Profit/(Loss) Before Tax

 

9.103

12.340

Provision for Taxation

 

3.500

3.230

Profit/(Loss) After Tax

 

5.603

9.110

 

 

 

 

Earnings in Foreign Currency :

 

 

 

 

Export Earnings

 

136.513

41.712

 

Other Earnings

 

4.637

12.852

Total Earnings

 

141.150

54.564

 

 

 

 

Expenditures :

 

 

 

 

Cost of Goods Sold

 

98.010

15.527

 

Administrative & Selling Expenses

 

31.959

6.319

 

Interest

 

0.583

0.545

 

Depreciation & Amortization

 

2.238

2.263

Total Expenditure

 

132.790

24.654

 

KEY RATIOS

 

PARTICULARS

 

 

 

31.03.2006

31.03.2005

PAT / Total Income

(%)
 

37.71

14.70

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
 

64.49

22.62

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
 

14.70

59.26

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
 

0.29

0.39

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
 

1.75

0.58

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
 

1.04

0.91

 

 

LOCAL AGENCY FURTHER INFORMATION

 

AGENCIES HELD

 

Being an International Trading Company, Monarch International does not hold agencies but has some exclusive representatives in some products in India.

 

REFRACTORY:

 

Intocast South Africa (Pty) Limited

47 Director Road, CNR Spartan Road,

Aeroport, Kempton Park,

Gauteng PO Box 10056, Edleen 1625

Republic of South Africa

Ms. Renee Rider

Tel.: +27 11 573 4506

Fax: +27 11 573 4511

 

Hong Kong Greatwall Trading Dev. Limited, Dalian

RM 16B10, 19 Yuanda Building

19, Duli Street, Zongshan District Dalian

Tel No : 86-411-26546501 / 2654700

 

LOCAL

 

Mr. A K Guru

Tata Refractories Limited 

Post Office Bhelphar

District Jharsuguda

Orissa – 768218

Tel No. : 06645 240291

Fax No. : 26645 250243

 

Mr. K. Mitra

Bharat Refractories Limited

Indira Gandhi Marg, Sector – 4

Bokaro Steel City

Jharkhand

Bokaro – 827004

Tel No. : 0652 233182

Fax No. : 250243

 

TEXTILE:

 

FOREIGN:

(Product – Nylon Yarn, NN/EP Belting Fabric)

 

Mr. Zhang

Weifang Senyu Trading Co. Limited

Hongkong Plaza, Xiangyang Road, Anqui City,

Shandong, China

Tel No. : 86 536 2261377/4387269

Fax No. : 86 536 43683071/4390769

 

Jiangsu Junma Group

Junma Building Xhanxing Road, Chenghang Street

Tangshe Town, Zhangjiagang City, Jiangsu Province, China

Tel No. : 0086 512 58140850

 

Shandong Huale Commerce and Industry Group Company Limited

Laoling Economy and Technology Development Rigion

Tel No. : 0086 534 6708867

Fax No. : 0086 534 6708878

 

LOCAL

 

Kohinoor India Limited

Basti Bawa Khel, Kapurthala Road

Jalandhar – 21 [Pb] China

Tel No. : 91-181-252795

Fax No. : 0452 2464204

 

Premier Rubber Mills

Verka, Amritsar – 143501 [India]

Tel No. : 91-183-2263434 / 2263208

 

 

ENGINEERING:

 

(Product Griding Media)

King Ceramics & Chemicals Company Limited

910, 9th Section, Jinsong Chaoyang District,

Beijing, China 100021

Tel.: +8610 6770 3506

 

FOREIGN:

 

Product- Alumina Balls

 

Foshan Winning Aluball (Yijia) Company Limited

Room K, 30/F, Foshan Development Building,

East Huayuan Road, Foshan City,

Guangdong Province, China

Zip: 528000

Tel: +86-757-83208229

Fax: +86-757-83782613

 

HELICOPTERS:

 

Enstrom Helicopter Corporation

2209 22nd Ave,

Menominee, MI 49858

USA

Tel.: 906 863 1200

Fax: 906 863 6821

 

LOCAL

 

House of Rajaram N. S.

Bandekar, Suvarn Bandekar

Building, Swatantra Path,

P. O. Box No. 11, Vasco – DA – Gama

Goa – 403802

Tel No. : 0832 2512667

 

TRADE REFERENCES: (Domestic Only)

 

Mr. H. P. Srivastava

Head – HR & Commercial

Oriental Rubber Industries Limited

Sharvani Gardens 20, Viman Nagar,

Nagar Road, Pune – 411014

Tel.: 91-20-26630071     

Fax: 91-20-26630840

Email: oril@vsnl.com

 

Mr. Vijay Maini

Managing Director

Hindustan Cycles & Tubes Private Limited

G-3, Textile Colony,

Industrial Area – A, Ludhiana 141003

Tel.: 91-161-2510766/2510572

Fax: 91-161-2510968

Email: exports@hindustantyres.com

 

Mr. Zia Ui Hussain / Mr. A. K. Guru

Tata Refractories Limited

Post Office Bhelphar,

District Jharsuguda,

Orissa – 768218

Tel.: 06645 250291

Fax: 06645 250243

 

Mr. S. K. Mohanty

Bharat Refractories Limited

Indira Gandhi Marg, Sector – 4,

Bokaro Steel City,

Jharkand,

Bokaro – 827004

Tel.: 0652 233182

Fax: 06542 247492

 

Mr. R. T. Narwani

Director

Matha Overseas Private Limited

1105, Sanjeevini, 10th Main Road,

R. P. C. Layout, Vijayanagar, Bangalore – 40

Tel.: 91-80-23208982/083

Fax: 91-80-23408160

Email: mathaexports@vsnl.com

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.40.90

UK Pound

1

Rs.81.29

Euro

1

Rs.55.47

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

7

PAID-UP CAPITAL

1~10

6

OPERATING SCALE

1~10

6

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

6

--PROFITABILIRY

1~10

6

--LIQUIDITY

1~10

6

--LEVERAGE

1~10

6

--RESERVES

1~10

6

--CREDIT LINES

1~10

7

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

YES

--LITIGATION

YES/NO

NO

--OTHER ADVERSE INFORMATION

YES/NO

NO

MERIT POINTS

 

 

--SOLE DISTRIBUTORSHIP

YES/NO

NO

--EXPORT ACTIVITIES

YES/NO

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

56

 

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

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions