MIRA
INFORM REPORT
|
Report Date : |
09.04.2008 |
IDENTIFICATION
DETAILS
|
Name : |
AROMASIA ENTERPRISES PRIVATE LIMITED |
|
|
|
|
Registered Office : |
AG-27 Shalimar Bagh, Delhi 110 088 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2006 |
|
|
|
|
Date of Incorporation : |
10.09.2003 |
|
|
|
|
Com. Reg. No.: |
55 - 122194 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U24248DL2003PTC122194 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELA11808G/DELA15931G |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAECA4854H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturers and Exporters of Incense Sticks, Cones, potpourri, Aroma Oil and Candles |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 24000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having satisfactory track. Directors are experienced, respectable and resourceful businessmen. Profit margin is under pressure. Payments are reported as correct and as per commitments. The company can be considered normal for business dealings at usual trade terms and conditions. |
LOCATIONS
|
Registered Office : |
AG-27 Shalimar Bagh, Delhi 110 088, India |
|
Tel. No.: |
91-11-2748 8100, 2748 8200 |
|
Fax No.: |
91-11-2747 5441 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Commercial |
|
|
|
|
Factory 1 : |
Plot No. 442, Kundli, Haryana, India |
DIRECTORS
|
Name : |
Mr. Naresh Gupta |
|
Designation : |
Director |
|
Address : |
AG-27, Shalimar Bagh New Delhi 110 088, India |
|
Date of Birth/Age : |
09.07.1951 |
|
Date of Appointment : |
10.09.2003 |
|
|
|
|
Name : |
Mr. Anuj Gupta |
|
Designation : |
Director |
|
Address : |
AG-27, Shalimar Bagh New Delhi 110 088 |
|
Date of Birth/Age : |
07.04.1974 |
|
Date of Appointment : |
10.09.2003 |
|
|
|
|
Name : |
Mr. Tushar Gupta |
|
Designation : |
Director |
|
Address : |
AG-27, Shalimar Bagh New Delhi 110 088, India |
|
Mobile No. : |
91-98111 43282 |
|
Date of Birth/Age : |
22.12.1978 |
|
Date of Appointment : |
10.09.2006 |
|
|
|
|
Name : |
Mr. Sahoo |
|
Designation : |
Finance Executive |
|
Mobile No. : |
91-98182 11060 |
KEY EXECUTIVES
|
Name : |
P. S. Soni and Company |
|
Designation : |
Company Secretary |
|
Address : |
B-12, Ansal Utility Commercial Center, Opposite Jwala Heri Market,
Paschim Vihar, New Delhi 110063, India |
|
Tel. No.: |
91-11-42321389 / 64685319 |
|
Mobile No.: |
91-9810262298 |
|
E-mail: |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
[As on 30.09.2005]
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Naresh Gupta |
|
384000 |
|
Mr. Anju Gupta |
|
103000 |
|
Mr. Tushar Gupta |
|
103000 |
|
Total |
|
590000 |
|
|
|
|
|
Equity Share
Break-up [As on 31.03.2006] |
|
Percentage of
Holding |
|
Directors or relatives of the Directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturers and Exporters of Incense Sticks, Cones, potpourri, Aroma Oil and Candles |
GENERAL
INFORMATION
|
Bankers : |
17, 18 and 19,
Sector 17-A, Chandigarh |
|
|
|
|
Banking
Relations : |
--- |
|
|
|
|
Auditors : |
|
|
Name : |
GSK Associates Chartered Accountants |
|
Address : |
Old Rajinder Nagar Market, New Delhi 110 060, India |
|
Tel. No.: |
91-11-2581 7231, 2571 2447 |
|
Website: |
|
|
|
|
|
Associates/Subsidiaries : |
|
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
600000 |
Equity Shares |
Rs. 10/- each |
Rs. 6.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
590000 |
Equity Shares |
Rs. 10/-
each |
Rs. 5.900
Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
5.900 |
5.000 |
|
|
2] Share Application Money |
|
0.139 |
4.605 |
|
|
3] Reserves & Surplus |
|
0.203 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
6.242 |
9.605 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
20.320 |
1.215 |
|
|
2] Unsecured Loans |
|
8.589 |
0.113 |
|
|
TOTAL BORROWING |
|
28.909 |
1.328 |
|
|
DEFERRED TAX LIABILITIES |
|
0.212 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
35.363 |
10.933 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
29.543 |
5.419 |
|
|
Capital work-in-progress |
|
0.248 |
4.380 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
7.169 |
0.000 |
|
|
Sundry Debtors |
|
9.207 |
0.000 |
|
|
Cash & Bank Balances |
|
1.251 |
0.121 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
1.541 |
0.236 |
|
Total
Current Assets |
|
19.168 |
0.357 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
13.810 |
0.032 |
|
|
Provisions |
|
0.107 |
0.000 |
|
Total
Current Liabilities |
|
13.917 |
0.032 |
|
|
Net Current Assets |
|
5.251 |
0.325 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.321 |
0.126 |
|
|
|
|
|
|
|
|
Pre-Operative Expenses |
|
0.000 |
0.683 |
|
|
|
|
|
|
|
|
TOTAL |
|
35.363 |
10.933 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2006 |
31.03.2005 |
|
|
Sales Turnover |
|
20.095 |
-- |
|
|
Other Income |
|
0.000 |
-- |
|
|
Total Income |
|
20.095 |
-- |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
0.521 |
(0.446) |
|
|
Provision for Taxation |
|
-- |
-- |
|
|
Profit/(Loss) After Tax |
|
0.521 |
(0.446) |
|
|
|
|
|
|
|
|
Earnings in Foreign Currency : |
|
200.641 |
NA |
|
|
|
|
|
|
|
|
Total Imports |
|
8.974 |
NA |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Increase/(Decrease) in Finished Goods |
|
[1.471] |
|
|
|
Financial Charges |
|
1.631 |
|
|
|
Other Expenditure |
|
19.414 |
|
|
Total Expenditure |
|
19.574 |
0.446 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2006 |
31.03.2005 |
|
PAT / Total
Income |
(%) |
|
2.59 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
2.59 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
1.06 |
7.72 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.08 |
0.04 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
6.86 |
0.14 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.37 |
11.15 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
Bankers Charges
Report as per Registry
|
Name of the company |
AROMASIA
ENTERPRISES PRIVATE LIMITED |
|
Presented By |
Mr. Anuj Gupta |
|
1) Date and description of instrument creating the change |
Mortgage deed dated 05.04.2005 executed by Aromasia Enterprises
Private Limited |
|
2) Amount secured by the charge/amount owing on the securities of
charge |
Rs. 10.000
Millions |
|
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 |
Registered charge
on plot of land measuring 1800 sq. mtrs. Being plot no. 442, HSIDC EPIP,
Kundli, with factory constructed and to be constructed and machinery installed
and to be installed therein in schedule A to the mortgage deed dated
05.04.2005 goodwill and other present and future assets as detailed in the
said indenture. |
|
4) Gist of the terms and conditions and extent and operation of the
charge. |
The Principal sum
of Rs. 10.000 Millions to be repaid as per schedule of repayment of the
aforesaid mortgage deed dated 05.04.2005 in 27 quarterly installments. The first one installment being of Rs.
0.380 Million and remaining 26 installments being of Rs. 0.370 Millions each
commencing from 01.11.2006 and the last on the 01.03.2013 together with
interest @ 10.50% p.a. with quarterly rests at the discretion of the
corporation. In the event of the
borrows default in paying the quarterly interest as aforesaid at the stipulated
rate on the dates hereinabove specifically mentioned or in repaying the
installments of the said principal sum on the dates hereinabove, the lender
will be entitled to charge interest at the rate exceeding the stipulated rate
by 2% p.a. |
|
5) Name and Address and description of the person entitled to the
charge. |
The Haryana
Financial Corporation 17, 18 and 19,
Sector 17-A, Chandigarh |
|
6) Date and brief description
of instrument modifying the charge |
NA |
|
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. |
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. 40.02 |
|
UK Pound |
1 |
Rs. 79.44 |
|
Euro |
1 |
Rs. 62.94 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
41 |
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. |
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 |
|