MIRA
INFORM REPORT
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Report Date : |
03.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
HUNS DIGITAL HOMES PRIVATE LIMITED |
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Registered Office : |
Amar Avinash Corporative City, CTS No. 11, Bund Garden, Shop No. 1 & 2, Pune – 411001, Maharasthra |
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Country : |
India |
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Financials (as
on) : |
31.03.2005 |
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Date of Incorporation : |
19.08.2002 |
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Com. Reg. No.: |
25-17218 |
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CIN No.: [Company
Identification No.] |
U51505PN2002PTC017218 |
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TAN No.: [Tax Deduction
& Collection Account No.] |
PNEH04306B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading in Electronic Goods and Allied 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 10000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Trade relations are fair. Financial position is satisfactory. Payments are usually correct and as per commitments. The company can be considered good for normal business dealings at usual trade terms and conditions. |
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LOCATIONS
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Registered Office : |
Amar Avinash Corporative City, CTS No. 11, Bund Garden, Shop No. 1 & 2, Pune – 411001, Maharasthra, India |
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Tel. No.: |
91-20-56030792 |
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Mobile No.: |
91-9422313308 |
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Fax No. : |
91-20-56030791 |
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Status : |
Owned |
DIRECTORS
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Name : |
Mr. Ashok Hunsraj
Ranka |
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Designation : |
Director |
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Address : |
Flat No. 103, Rajlaxmi Society, Gultekdi, Pune – 411037, Maharashtra, India |
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Date of Appointment : |
19.08.2002 |
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Name : |
Mr. Pravin
Hunsraj Ranka |
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Designation : |
Director |
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Address : |
Flat No. 103, Rajlaxmi Society, Gultekdi, Pune – 411037, Maharashtra, India |
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Date of Appointment : |
19.08.2002 |
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Name : |
Mr. Mahendra
Hunsraj Ranka |
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Designation : |
Director |
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Address : |
Flat No. 103, Rajlaxmi Society, Gultekdi, Pune – 411037, Maharashtra, India |
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Date of Appointment : |
19.08.2002 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
Number of Shares |
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Mr. Ashok H. Ranka |
3000 |
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Mr. Pravin H. Ranka |
3000 |
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Mr. Mahendra H. Ranka |
4000 |
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Total |
10000 |
BUSINESS DETAILS
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Line of Business : |
Trading in Electronic Goods and Allied Products. |
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Products : |
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Exports : |
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Countries : |
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GENERAL
INFORMATION
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No. of Employees : |
51 - 100 |
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Bankers : |
Dena Bank, Kemp Branch, Pune, Maharashtra, India Citi Bank N.A., Pune, Maharashtra, India |
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Banking Relations
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-- |
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Auditors : |
Prutha S. Shah Chartered Accountants, |
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Address : |
R / 352, Adinath Society, Pune – 411037, Maharashtra, India |
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Associates : |
Electric dealer – Multi-brand Gross Turnover : Rs. 120.000 millions |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.100 million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES
OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1.759 |
1.101 |
0.449 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH
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1.859 |
1.201 |
0.549 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
3.799 |
3.567 |
3.013 |
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TOTAL BORROWING
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3.799 |
3.567 |
3.013 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.030 |
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TOTAL
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5.658 |
4.768 |
3.592 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
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1.582 |
1.912 |
2.267 |
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Capital work-in-progress
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0.000 |
0.000 |
0.000 |
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INVESTMENT
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0.001 |
0.001 |
0.001 |
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DEFERREX TAX ASSETS
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0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS &
ADVANCES
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Inventories
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6.916
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4.816 |
2.921 |
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Sundry Debtors
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4.803
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2.932 |
1.390 |
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Cash & Bank Balances
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8.681
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2.086 |
0.004 |
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Other Current Assets
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0.000
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0.000 |
0.000 |
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Loans & Advances
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2.777
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2.663 |
2.311 |
Total Current Assets
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23.177
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12.497 |
6.626 |
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Less :
CURRENT LIABILITIES & PROVISIONS
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Current Liabilities &
Provisions
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19.112
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9.657 |
5.323 |
Total Current Liabilities
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19.112
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9.657 |
5.323 |
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Net Current Assets
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4.065
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2.840 |
1.303 |
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MISCELLANEOUS EXPENSES
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0.010 |
0.015 |
0.021 |
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TOTAL
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5.658 |
4.768 |
3.592 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
Sales Turnover [including other
income]
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92.966 |
85.266 |
40.788 |
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Profit/(Loss) Before Tax
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1.036 |
1.056 |
0.725 |
Provision for Taxation
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0.378 |
0.404 |
0.277 |
Profit/(Loss) After Tax
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0.658 |
0.652 |
0.448 |
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Total Expenditure
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91.929 |
84.209 |
40.061 |
KEY RATIOS
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
31.03.2003 |
PAT / Total Income
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(%)
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0.70
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0.76 |
1.09 |
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Net Profit Margin
(PBT/Sales) |
(%) |
1.11
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1.23 |
1.77 |
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Return on Total Assets
(PBT/Total Assets} |
(%) |
4.18
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7.32 |
8.15 |
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Return on Investment (ROI)
(PBT/Networth) |
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0.55
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0.87 |
1.32 |
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Debt Equity Ratio
(Total Liability/Networth) |
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12.32
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11.01 |
15.18 |
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Current Ratio
(Current Asset/Current Liability) |
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1.21
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1.29 |
1.24 |
LOCAL AGENCY
FURTHER INFORMATION
FINANCIALS
Mr. Ashok Hansraj Ranka declined to past financial details.
However, we are trying to obtain
from unofficial sources and if available, it will follow, soon.
During this festival season, Directors are in no mood to discuss and
past business information.
It is gathered that the Company is doing brisk business at present.
BUSINESS
Subject is engaged
in to the business of buying, selling, dealing, repairing, conditioning,
distributing, marketing, trading, exporting and importing of electronic and digital
good including Television, Washing Machine, Microwave, Audio & Video
Systems/equipment, multimedia equipments, video games, home theatre, play
stations, gaming gadgets, telecommunication devices, electrical goods such as
refrigerator, air conditioners, air coolers, fans, emergency power and
breakdown systems and mixers and grinders and their accessories and computer
hardware network devices and computer peripherals.
It is also engaged
in as distributors of Samsung products such as consumer durables and home
appliances.
Subject operates
from caption owned office premises.
Caption showroom
premises of area admeasuring 2500 sq. fts. is owned.
Caption warehouse
premises of area admeasuring 5000 sq. fts. is also owned by the company.
During the year
under report the company has recorded the income from sales Rs. 92.789
millions.
However the company
has recorded the profit of Rs. 0.658 million during the year.
There have been no
exports and imports during the year.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 39.37 |
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UK Pound |
1 |
Rs. 81.82 |
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Euro |
1 |
Rs. 56.83 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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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 |
NO |
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--AFFILIATION |
YES/NO |
YES |
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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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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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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