MIRA
INFORM REPORT
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Report Date : |
19.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
METAPHOR EXPORTS PRIVATE LIMITED |
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Registered Office : |
D – 45, Naraina Vihar, New Delhi – 110028 |
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Country : |
India |
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Financials (as on) : |
31.03.2005 |
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Date of Incorporation : |
13.03.2001 |
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Com. Reg. No.: |
55-109997 |
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CIN No.: [Company
Identification No.] |
U00000DL2001PTC109997 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELM08391F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers of Readymade Garments |
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 73000 |
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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. 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 : |
D – 45, Naraina Vihar, New Delhi – 110028, India |
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Tel. No.: |
91-11-25795531/ 25844609 / 720 /51410534 / 5 |
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Fax No.: |
91-11-25844658 /51410536 |
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E-Mail : |
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Corporate Office
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Plot # 151, Sector IV, IMT, Manesar, Gurgaon, Haryana, India |
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Factory : |
C – 178, Naraina Industrial Area, Phase I, New Delhi – 110028, India |
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Tel. No.: |
91-11-51410534 / 5 |
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Fax No.: |
91-11-51410536 |
DIRECTORS
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Name : |
Mr. Pran Nath Khanna |
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Designation : |
Director |
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Address : |
D – 45, Naraina Vihar, New Delhi – 110028, India |
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Date of Birth/Age : |
20.09.1944 |
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Date of Appointment : |
13.03.2001 |
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Name : |
Mrs. Anju Khanna |
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Designation : |
Director |
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Address : |
D – 45, Naraina Vihar, New Delhi – 110028, India |
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Date of Birth/Age : |
17.05.1947 |
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Date of Appointment : |
13.03.2001 |
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Name : |
Mr. Sameer Khanna |
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Designation : |
Director |
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Address : |
D – 45, Naraina Vihar, New Delhi – 110028, India |
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Date of Birth/Age : |
15.09.1974 |
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Date of Appointment : |
01.01.2003 |
KEY EXECUTIVES
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Name : |
YPS Chauhan and Associates |
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Designation : |
Company Secretary |
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Address : |
228, 2nd Floor, 1900, Shri Ram Market, Sirkiwalan, Delhi –
110006 |
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Tel No. : |
91-11-55166094 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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P. N. Khanna |
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267600 |
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Anju Khanna |
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4500 |
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Rohini Khanna |
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15000 |
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Sameer Khanna |
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20000 |
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Sanjay Khanna |
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20000 |
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Sandeep Khanna |
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20000 |
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Shalini Khanna |
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15000 |
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Total |
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362100 |
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Readymade Garments |
GENERAL
INFORMATION
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No. of Employees : |
12 |
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Bankers : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
V. K. Sehgal and Associates Chartered Accountants |
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Address : |
201, Harsh Bhawan, 64-65, Nehru Place, Delhi – 110019, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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4,00,000 |
Equity Shares |
Rs. 10/- each |
Rs. 4.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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362100 |
Equity Shares |
Rs. 10/- each |
Rs. 3.621
Millions |
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 |
3.621 |
0.950 |
3.621 |
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2] Share Application Money |
1.145 |
0.815 |
0.000 |
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3] Reserves & Surplus |
13.567 |
2.893 |
0.418 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
18.333 |
4.658 |
4.039 |
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LOAN FUNDS |
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1] Secured Loans |
5.168 |
5.798 |
1.307 |
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2] Unsecured Loans |
0.000 |
0.000 |
1.579 |
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TOTAL BORROWING |
5.168 |
5.798 |
2.886 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
23.501 |
10.456 |
6.925 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
10.194 |
6.339 |
3.087 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.080 |
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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 |
11.869 |
4.689 |
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Sundry Debtors |
7.391 |
5.602 |
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Cash & Bank Balances |
1.326 |
0.513 |
10.521 |
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Other Current Assets |
0.193 |
0.000 |
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Loans & Advances |
2.548 |
1.518 |
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Total
Current Assets |
23.327
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12.322 |
10.521 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
9.979 |
8.227 |
6.788 |
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Provisions |
0.059 |
0.000 |
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Total
Current Liabilities |
10.038
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8.227 |
6.788 |
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Net Current Assets |
13.289 |
4.095 |
3.733 |
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MISCELLANEOUS EXPENSES |
0.018 |
0.022 |
0.025 |
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TOTAL |
23.501 |
10.456 |
6.925 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2005 |
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Sales Turnover |
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54.196 |
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Total Income |
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54.196 |
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Profit/(Loss) Before Tax |
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0.442 |
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Provision for Taxation |
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0.059 |
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Profit/(Loss) After Tax |
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0.383 |
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Expenditures : |
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Total Expenditure |
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53.754 |
KEY RATIOS
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PARTICULARS |
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31.03.2005 |
31.03.2004 |
31.03.2003 |
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PAT / Total Income |
(%) |
0.71
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NA |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
0.82
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NA |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.32
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NA |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.02
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NA |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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0.83
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3.01 |
2.40 |
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Current Ratio (Current Asset/Current Liability) |
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2.32
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1.50 |
1.55 |
LOCAL AGENCY FURTHER
INFORMATION
Bankers Charges
Report as per Registry
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Name of the company |
METAPHOR EXPORTS
PRIVATE LIMITED |
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Presented By |
Canara Bank, New
Delhi - 110002 |
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1) Date and description of instrument creating the change |
05.11.2005 Hypothecation
Agreement for Packing Credit Advances |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 2.175
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 |
Hypothecation of
all the commodities described in the schedule hereto now lying or thereafter
stored at the godowns and yards and premises of the borrower or wherever else
the same may be. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The interest on
Packing Credit Limit shall be charged at the rate of 7.5 % p.a. Margin 25 % |
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5) Name and Address and description of the person entitled to the charge. |
Canara Bank, New Delhi - 110002 |
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6) Date and brief description of instrument modifying the charge |
Not Applicable |
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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. |
Not Applicable |
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U00000DL2001PTC109997 |
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Name of the
company |
METAPHOR EXPORTS PRIVATE LIMITED |
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Address of the registered
office or of the principal place of
business in India of the company |
C - 178, Naraina Industrial Area, Phase – I, New Delhi – 110028, India
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Type of charge |
Movable Property |
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Particular of
charge holder |
ICICI Bank Limited, Landmark Race Cource Circle, Alkapuri, Baroda –
390015, Gujarat, India |
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Nature of
description of the instrument creating or modifying the charge |
Unattested deed
of hypothecation |
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Date of instrument
Creating the charge |
14.08.2007 |
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Amount secured by
the charge |
Rs. 1.059
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest 19.10 % Terms of
repayment 24 EMI of Rs.
0.053 Millions Margin As per H. D. Extent operation
of the charge 24 Months from
the date of BR |
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Short particulars
of the property charged |
Genset |
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
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Indian Rupees |
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US Dollar |
1 |
Rs.39.41 |
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UK Pound |
1 |
Rs.81.37 |
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Euro |
1 |
Rs.58.56 |
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 |
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 |
YES |
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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 |
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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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