MIRA
INFORM REPORT
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Report Date : |
21.05.2007 |
IDENTIFICATION DETAILS
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Name : |
OZONE OVERSEAS LIMITED |
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Registered Office : |
3/46-A, West Punjabi Bagh, |
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Country : |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
29.10.2000 |
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Com. Reg. No.: |
55-102039 |
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CIN No.: [Company
Identification No.] |
U51101DL1999PLC102039 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELO01884B |
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PAN No.: [Permanent
Account No.] |
AAAC03093J |
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Legal Form : |
A closely held public limited liability company. |
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Line of Business : |
Manufacturers and Exporters of 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 : |
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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. 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 : |
3/46-A, West Punjabi Bagh, |
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Tel. No.: |
91-11-25223978 / 25222247 / 25224394 / 51059841 |
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Fax No.: |
91-11-25220861 / 52463014 |
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E-Mail : |
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Website : |
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Head Office : |
H-40, Bali Nagar, |
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Tel. No.: |
91-11-25432246 / 32913360 /25432246-47 / 25151044 |
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Fax No.: |
91-11-25432248,25432311 |
DIRECTORS
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Name : |
Mr. Brij Mohan Aggarwal |
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Designation : |
Chairman |
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Address : |
25/69, West Punjabi Bagh, |
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Date of Appointment : |
29.10.2000 |
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Name : |
Mrs. Rama Aggarwal |
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Designation : |
Director |
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Address : |
25/69, West Punjabi Bagh, |
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Date of Appointment : |
29.10.2000 |
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Name : |
Mr. Alok Aggarwal |
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Designation : |
Director |
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Address : |
25/69, West Punjabi Bagh, |
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Date of Appointment : |
29.10.2000 |
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Name : |
Mr. Sunil Aggarwal |
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Designation : |
Director |
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Address : |
25/69, West Punjabi Bagh, |
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Date of Appointment : |
29.10.2000 |
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Name : |
Ms. Vandana Aggarwal |
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Designation : |
Director |
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Address : |
25/69, West Punjabi Bagh, |
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Date of Birth/Age : |
03.01.1973 |
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Date of Appointment : |
01.04.2007 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Alok Aggarwal |
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39200 |
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Sunil Aggarwal |
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10100 |
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Alok Aggarwal – HUF |
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100 |
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Rama Aggarwal |
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50100 |
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Mohan Brij Aggarwal |
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30200 |
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Mohan Brij Aggarwal – HUF |
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100 |
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Vandana Aggarwal |
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5000 |
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Rupal Investment Private Limited |
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65000 |
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Malthora Virender |
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100 |
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Pradeep Sharma |
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100 |
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Total |
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200000 |
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Category |
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Percentage of
Holding |
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Directors or relatives of directors |
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100.00 % |
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BUSINESS DETAILS
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Line of Business : |
Manufacturers and Exporters of Hardware Products |
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Products : |
v Glass Door Sliding System v Office Sliding Door System v Balustrades System v Patch Fittings v Glass Door Knobs v Bracket Shelf Holders v Glass Door Sliding Systems v Shower Hinges v Towel Bars v Glass Door Rails v Glass Connectors v Reinforcing Bars v Knight Head Accessories v PVC Profile v Spider Fittings Door Controls v Floor Springs v Concealed Door Closers v Surface Mounted Closers Inoxage v Stainless Steel Lever Handles v SS Glass Door Handles v Furniture Knobs and Handles v Glass Door Handles Ergozone v Concealed Hinges v Computer Keyboard v Drawer Slides Electronic Safes v Electronic Motorised Safes v Fire Warrior v Fire Knight v Fire Proof Chest |
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Terms : |
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Purchasing : |
L/C |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
About 25 |
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Bankers : |
v
Canara Bank, v
Oriental Bank of Commerce, Naraina Branch, v
ICICI Bank Limited, v
ABN Amro Bank, (availed Car Loan) v
State Bank of |
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Facilities : |
-- |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Anil Khatri and Company Chartered Accountants |
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Address : |
V2, |
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Associates/Subsidiaries : |
Jaycee Ferrous Limited |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1500000 |
Equity Shares |
Rs. 10/- each |
Rs. 15.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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200000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.000
Millions |
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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 |
2.000 |
2.000 |
2.000 |
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2] Share Application Money |
1.080 |
0.000 |
0.000 |
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3] Reserves & Surplus |
11.804 |
2.280 |
0.692 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
14.884 |
4.280 |
2.692 |
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LOAN FUNDS |
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1] Secured Loans |
32.831 |
5.156 |
4.371 |
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2] Unsecured Loans |
10.960 |
8.688 |
7.228 |
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TOTAL BORROWING |
43.791 |
13.844 |
11.599 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
58.675 |
18.124 |
14.291 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
10.809 |
1.680 |
1.341 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.025 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
35.001
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10.231 |
5.507 |
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Sundry Debtors |
27.636
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22.112 |
13.114 |
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Cash & Bank Balances |
3.507
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2.691 |
1.100 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
4.865
|
1.898 |
0.221 |
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Total
Current Assets |
71.009
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36.932 |
19.942 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
19.917
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19.617 |
6.634 |
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Provisions |
3.265
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0.915 |
0.433 |
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Total
Current Liabilities |
23.182
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20.532 |
7.067 |
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Net Current Assets |
47.827
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16.400 |
12.875 |
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MISCELLANEOUS EXPENSES |
0.014 |
0.044 |
0.075 |
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TOTAL |
58.675 |
18.124 |
14.291 |
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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 |
137.027 |
890.227 |
38.407 |
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Other Income |
0.170 |
0.493 |
0.159 |
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Total Income |
137.197 |
890.720 |
38.566 |
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Profit/(Loss) Before Tax |
16.414 |
816.527 |
0.709 |
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Provision for Taxation |
6.238 |
1.100 |
0.278 |
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Profit/(Loss) After Tax |
10.176 |
815.427 |
0.431 |
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Expenditures : |
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Cost of Goods Sold |
0.000 |
0.000 |
30.292 |
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Personal Expenses |
0.000 |
0.000 |
1.304 |
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Administrative Expenses |
0.000 |
0.000 |
4.684 |
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Finance Charges |
0.000 |
0.000 |
1.144 |
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Purchases made for re-sale |
83.731 |
56.059 |
0.000 |
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Salaries, Wages, Bonus, etc. |
3.618 |
1.365 |
0.000 |
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Managerial Remuneration |
0.411 |
0.225 |
0.000 |
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Payment to Auditors |
0.067 |
0.019 |
0.000 |
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Interest |
2.120 |
1.612 |
0.000 |
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Insurance Expenses |
0.105 |
0.083 |
0.000 |
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Power & Fuel |
0.000 |
0.000 |
0.000 |
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Depreciation & Amortization |
0.597 |
0.461 |
0.000 |
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Other Expenditure |
30.407 |
14.368 |
0.433 |
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Total Expenditure |
121.056 |
74.192 |
37.857 |
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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 |
(%) |
7.42
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91.55 |
1.12 |
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Net Profit Margin (PBT/Sales) |
(%) |
11.98
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91.72 |
1.85 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
20.06
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2114.37 |
3.33 |
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Return on Investment (ROI) (PBT/Networth) |
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1.10
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190.78 |
0.26 |
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Debt Equity Ratio (Total Liability/Networth) |
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4.50
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8.03 |
6.93 |
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Current Ratio (Current Asset/Current Liability) |
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3.06
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1.80 |
2.82 |
LOCAL AGENCY FURTHER INFORMATION
The Registered Office of the company has been shifted from 25/69, West
Punjabi Bagh,
Fixed Assets
- Car
- Electric
Installation
- Furniture and
Fixture
- Computer and
Printers
- Air
Conditioner
- Motor Bike
Bankers Charges
Report as per Registry
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Name of the company |
OZONE OVERSEAS
LIMITED |
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Presented By |
SBI MAYAPURI,
PHASE II, |
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1) Date and description of instrument creating the change |
SME Agreement of loan
cum hypothecation dated 31.10.2005 registered on 29.11.2005 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 36.000
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 |
Primary Hypothecation of
Stock / Goods lying in godowns / shops or elsewhere including goods in
transit hypothecation of present and future receivable and other chargeable
current assets of the company. Collateral Equitable
mortgage of property i.e. factory land and building situated at 12/2, |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interest : Interest rate at Nil
% below SBAR present effective rate minimum 10.25 % p.a. with monthly rests. Margin : on goods
25 % and 25 % on Book debts |
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5) Name and Address and description of the person entitled to the charge. |
SBI MAYAPURI, PHASE
II, |
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6) Date and brief description of instrument modifying the charge |
SME Agreement of loan
cum hypothecation dated 31.01.2006 |
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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. 36.000 Millions to Rs. 53.500 Millions as per details hereunder : Credit Limits
EM of built up
property on freehold plot no 40 block – H measuring 150 sq. yards situated at
Bassai Darapur Bali Nagar Delhi First charge on fixed assets purchased out of
bank advance and also on fixed assets of the company both present and future.
Hypothecation of
current assets of the company both present and future, other terms and
conditions remains same. |
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U51101DL1999PLC102039 |
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Name of the
company |
OZONE OVERSEAS LIMITED |
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Address of the
registered office or of the principal place of business in |
H-40, Bali Nagar, |
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Type of charge |
Any interest in immovable property Immovable property |
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Particular of
charge holder |
State Bank of Mayapuri Phase – II, |
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Nature of
description of the instrument creating or modifying the charge |
No instrument
executed and equitable mortgage created by the company by deposit of title
deeds for advances made to Akay Rolling Mills Private Limited confirmation
for creation of EM of property. |
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Date of
instrument Creating the charge |
07.03.2007 |
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Amount secured by
the charge |
Rs. 20.700
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of interest As per agreement Terms of
repayment Cash Credit
repayable on demand Margin Raw materials and
receivable 25 % Extent and
operation of the charge EM of plot no. 27
block H Bali Nagar Delhi in the name of OZONE OVERSEAS LIMITED measuring 150 sq.
yards. |
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Short particulars
of the property charged |
EM of plot no. 27
block H Bali Nagar Delhi in the name of OZONE OVERSEAS LIMITED measuring 150 sq.
yards. |
As Per Website
Profile
Company Strength
Subject is a company with Vigour and Vision, backed by Experience and Reliability. The management and their team comprises of dedicated professionals. This team derives ideological and financial support from promoters who are established and experienced in Industry and Business.
Ozone offers a comprehensive range of Architectural Hardware Solutions. The range includes, Architectural Glass Fittings, Door Closing Devices, Door Locks, Electronic Safes and Furniture Fittings.
Company Comitment
Encased in each product is a commitment from Ozone. A long-term commitment.
They deliver value for money to customers who can appreciate the tremendous
efforts and inputs used for achieving QUALITY.
They have a Team of specialists with excellent training in Mechanics, Electronics, Design and Marketing; working with their freedom, creativity and diligence. They understand customer needs and how they are met with their pool of resources and product range.
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.40.60 |
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|
1 |
Rs.80.13 |
|
Euro |
1 |
Rs.54.87 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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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 |
NO |
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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 |
YES |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
49 |
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 |
|