MIRA
INFORM REPORT
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Report Date : |
14.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
BABA LEATHER IMPEX PRIVATE LIMITED |
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Registered Office : |
5328/67, Hardhian Singh Road, Karol Bagh, New Delhi – 110005 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
06/05/1999 |
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Com. Reg. No.: |
55-99639 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELB05917C |
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Legal Form : |
Private limited liability company |
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Line of Business : |
Importer and Traders of Cotton Coated Fabrics |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 10000 |
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Status : |
Moderate |
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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 moderate track. Directors are reported as experienced, respectable and having satisfactory means of their own. Their trade relations are fair. Profit margin is under severe pressure. Payments are usually correct and as per commitments. The company can be considered moderate for business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
5308/67, Krishan Nagar, Hardhyan Singh Road, Karol Bagh, New Delhi – 110005, India |
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Tel. No.: |
91-11-25733717 / 25766079 / 25722032 |
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Fax No.: |
91-11-25760589 |
DIRECTORS
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Name : |
Mr. Milind Kumar |
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Designation : |
Director |
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Address : |
2191, Gali Ravi Das Teliwara Sadar Bazar, New Delhi 110006, India |
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Date of Birth/Age : |
30.06.1968 |
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Date of Appointment : |
01.10.2000 |
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Name : |
Mr. Raj Kumar Anand |
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Designation : |
Director |
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Address : |
49/21, First floor, East Patel Nagar, New Delhi 110005, India |
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Date of Birth/Age : |
15.09.1966 |
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Date of Appointment : |
06.05.1999 |
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Name : |
Mrs. Veena Kumar Anand |
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Designation : |
Director |
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Address : |
B-8/6475, Dev Nagar Karol Bagh, New Delhi 110005, India |
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Date of Birth/Age : |
31.08.1966 |
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Date of Appointment : |
06.05.1999 |
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Name : |
Mrs. Suresh Kumar |
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Designation : |
Director |
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Address : |
I-5/13, Sector 16, Rohini, New Delhi 110085, India |
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Date of Birth/Age : |
10.01.1971 |
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Date of Appointment : |
31.03.2006 |
KEY EXECUTIVES
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Name : |
M/s. PWR Associates |
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Designation : |
Company Secretary |
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Address : |
13, Indra Vihar, Near Kingsway Camp, New Delhi 110009, India |
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Tel No. : |
91-11-27655468 |
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Mobile No. : |
91-9810763142 / 9810470103 |
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E-Mail : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Kumar Raj |
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10100 |
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Kumar Veena |
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10100 |
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Kumar Milind |
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10000 |
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Lal Babu |
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10000 |
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Lal Bansi |
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5000 |
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Dass Ghanshyam |
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5000 |
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Kumar Arvind |
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4000 |
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Puri Dinesh |
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500 |
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Singh Raj |
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100 |
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Indrawati |
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100 |
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Kumar Pushpender |
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100 |
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Kohli Investments Private Limited |
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50000 |
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Rainbow Credit and Securities Private Limited |
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50000 |
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Yashika Finlease and Holdings Private Limited |
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50000 |
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Aggarwal Sudhir Kumar Agarwal |
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500 |
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Aggarwal Neeru |
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500 |
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Ruchi Goel |
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50000 |
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Total |
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256000 |
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Equity Share
Break-up |
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Director or relatives of Directors |
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27.00 |
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Other top fifty shareholders |
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73.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Importer and Traders of Cotton Coated Fabrics |
GENERAL
INFORMATION
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No. of Employees : |
15 |
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Bankers : |
Ř ICICI Bank
Limited Ř Bank of
Rajasthan |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
K. Sikri and Company Chartered Accountants |
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Address : |
6/79, WEA, Gurudwara Road, Karol Bagh, New Delhi 110005, India |
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Tel. No.: |
91-11-65458111 |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
300000 |
Equity Shares |
Rs. 10/- each |
Rs. 3.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
256000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.560
Millions |
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 |
2.560 |
2.560 |
2.060 |
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2] Share Application Money |
0.000 |
0.000 |
0.500 |
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3] Reserves & Surplus |
0.005 |
0.182 |
0.140 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2.565 |
2.742 |
2.700 |
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LOAN FUNDS |
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1] Secured Loans |
0.560 |
0.944 |
0.000 |
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2] Unsecured Loans |
0.691 |
2.590 |
5.503 |
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TOTAL BORROWING |
1.251 |
3.534 |
5.503 |
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DEFERRED TAX LIABILITIES |
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0.016 |
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TOTAL |
3.816 |
6.276 |
8.219 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.073 |
1.441 |
0.559 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.251 |
0.151 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
11.929
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9.680 |
29.345 |
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Sundry Debtors |
7.564
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8.300 |
9.107 |
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Cash & Bank Balances |
0.498
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3.328 |
0.356 |
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Other Current Assets |
5.470
|
1.151 |
2.311 |
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Loans & Advances |
0.000
|
1.907 |
0.160 |
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Total
Current Assets |
25.461
|
24.366 |
41.279 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
22.820
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19.567 |
33.546 |
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Provisions |
0.149
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0.115 |
0.073 |
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Total
Current Liabilities |
22.969
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19.682 |
33.619 |
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Net Current Assets |
2.492
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4.684 |
7.660 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
3.816 |
6.276 |
8.219 |
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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 |
14.057 |
83.098 |
41.136 |
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Total Income |
14.057 |
83.098 |
41.136 |
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Profit/(Loss) Before Tax |
[0.197] |
0.109 |
0.046 |
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Provision for Taxation |
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Profit/(Loss) After Tax |
[0.178] |
0.042 |
0.046 |
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Total Imports |
9.741 |
51.214 |
45.292 |
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Total Expenditure |
14.254 |
63.325 |
52.453 |
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 |
(%) |
[1.26]
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0.05 |
0.11 |
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Net Profit Margin (PBT/Sales) |
(%) |
[1.40]
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0.13 |
0.11 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
[0.74]
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0.42 |
0.10 |
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Return on Investment (ROI) (PBT/Networth) |
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0.07
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0.03 |
0.01 |
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Debt Equity Ratio (Total Liability/Networth) |
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9.44
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8.46 |
14.48 |
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Current Ratio (Current Asset/Current Liability) |
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1.10
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1.23 |
1.22 |
LOCAL AGENCY
FURTHER INFORMATION
NA
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. 39.39 |
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UK Pound |
1 |
Rs. 81.31 |
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Euro |
1 |
Rs. 57.44 |
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 |
4 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
4 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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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 |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
30 |
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 |
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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 |
|
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. |
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 |
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<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 |
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