MIRA
INFORM REPORT
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Report Date : |
12.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
NSC MICA EXPORTS PRIVATE LIMITED |
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Registered Office : |
7/21, Ground Floor, East Patel Nagar, New Delhi 110008 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
17.01.2006 |
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Com. Reg. No.: |
55-144957 |
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CIN No.: [Company
Identification No.] |
U20211DL2006PTC144957 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Natural Mica, Natural fabricated Mica,
Mica Sheets, boards, paper and other mica products |
RATING &
COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Maximum Credit Limit : |
USD 372 |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively New Company and yet to establish itself. The management of the company parted some
general information. Trade relations are fair. The company can be considered for small to mediocre business dealings
on safe and secured trade terms and conditions only. |
INFORMATION PARTED
BY
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Name : |
Mr. Kesar |
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Designation : |
Shipping Manager |
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Date : |
28.02.2008 |
LOCATIONS
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Registered Office : |
7/21, Ground Floor, East Patel Nagar, New Delhi 110008, India |
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Tel. No.: |
91-11-25883022 |
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Fax No.: |
91-11-42481710 |
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E-Mail : |
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Website : |
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Area : |
700 Sq. fts. |
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Location : |
Owned |
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Factory 1: |
Located at Giridih, India |
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Factory 2: |
Located at South India Division Gudur, India |
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Branch Office : |
Chennai, India |
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Overseas Office
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Located at NY [USA] |
DIRECTORS
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Name : |
Mr. Sumit Chhabra |
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Designation : |
Director |
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Address : |
7/21, Ground Floor, East Patel Nagar, New Delhi 110008, India |
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Date of Birth/Age : |
14.10.1982 |
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Date of Appointment : |
17.01.2006 |
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Name : |
Mr. Narendra Singh Chhabra |
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Designation : |
Director |
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Address : |
Power House Road, P.O. Box No. 107, Giridih Town, Giridih 815301,
Bihar, India |
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Date of Birth/Age : |
11.03.1950 |
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Date of Appointment : |
17.01.2006 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Narendra Chhabra |
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5000 |
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Sumit Chhabra |
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5000 |
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Total |
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10000 |
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Equity Share
Break-up |
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Percentage of
Holding |
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Directors or relatives of the Directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Natural Mica, Natural fabricated Mica,
Mica Sheets, boards, paper and other mica products |
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Products : |
Ø Natural Mica Ø Natural
Fabricated Mica Ø Mica Sheets,
Boards and Paper Ø Other Mica
Products |
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Exports : |
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Products : |
Ø Natural Mica Ø Natural
Fabricated Mica Ø Mica Sheets,
Boards and Paper Ø Other Mica
Products |
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Countries : |
Ø America Ø Canada Ø European Country
Ø Arabian Country Ø Japan |
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Terms : |
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Selling : |
Credit [Depend on Customers] |
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Purchasing : |
L/C, Advance Payment |
GENERAL
INFORMATION
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Customers : |
Individual Company |
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No. of Employees : |
Around 100 |
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Bankers : |
Ø HDFC Bank Patel Nagar Branch |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Rishi K. Sharma and Associates Chartered Accountants |
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Address : |
146, Rajendra Bhawan, Rajendra Place, New Delhi 110008, India |
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Associates/Subsidiaries : |
Narendra Singh Chhabra and Company, New Delhi Line of Business : Manufacturer and Exporter of Mica |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 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 |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.000 |
0.000 |
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4] (Accumulated Losses) |
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[0.007] |
[0.003] |
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NETWORTH |
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0.093 |
0.097 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.000 |
0.000 |
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TOTAL BORROWING |
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0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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0.093 |
0.097 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
0.000 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
0.000 |
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Sundry Debtors |
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0.000 |
0.000 |
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Cash & Bank Balances |
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0.100 |
0.000 |
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Other Current Assets |
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0.000 |
0.055 |
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Loans & Advances |
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0.000 |
0.000 |
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Total
Current Assets |
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0.100 |
0.055 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.051 |
0.003 |
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Provisions |
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0.000 |
0.000 |
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Total
Current Liabilities |
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0.051 |
0.003 |
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Net Current Assets |
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0.049 |
0.052 |
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MISCELLANEOUS EXPENSES |
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0.044 |
0.045 |
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TOTAL |
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0.093 |
0.097 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Total Income |
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NA |
NA |
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Profit/(Loss) Before Tax |
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NA |
NA |
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Provision for Taxation |
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NA |
NA |
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Profit/(Loss) After Tax |
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NA |
NA |
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Expenditure : |
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Printing and
Stationery |
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0.112 |
0.190 |
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Miscellaneous
Expenses |
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0.144 |
0.151 |
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Postage and
Courier Expenses |
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0.040 |
0.022 |
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Filing Fees |
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1.000 |
0.000 |
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Professional
charges |
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2.000 |
2.000 |
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Audit Fees |
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0.500 |
0.500 |
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Total Expenditure |
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3.796 |
2.863 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.54 |
0.03 |
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Current Ratio (Current Asset/Current Liability) |
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1.96 |
18.33 |
LOCAL AGENCY
FURTHER INFORMATION
TRADE REFERENCES:
Ø
DLPX, Canada
Ø
PARM, USA
AS PER WEBSITE DETAILS:
PROFILE:
Subject is a global supplier of high quality Mica products from India.
Their factory has innovative fabrication strategies to provide their customer
complete accuracy, high end quality, multi-projects, low cost pricing and above
all customer satisfaction. With constantly upgrading its internal skills and
sourcing capabilities, NSC offers priority to every customer, quality
commitment, on-time delivery and most workable prices. Large inventories are
maintained for all types and grades of Mica products to offer uninterrupted
supplies to their valued customers. NSC proudly expertise in highest
quality ASTM V-1, 100% Scratch-free Mica fabrication, Dust controlled
packaging. It is where they earn their proud line "The V1 People".
All the intensified growth underlines NSC's commitment to quality,
trust, customer sensitivity and delivering on its promise. This, in turn,
has earned NSC the Exclusive ranking in Indian Mica Exports. NSC is the only
company in India to provide discrete customer support and using today's
most advanced techniques for the convenience and reliability.
PRODUCTS
NATURAL MICA
Mica Blocks
Mica Thins
Mica Splittings (Loose and Bookform)
Mica Tape Splittings
Mica Condensor
NATURAL FABRICATED
MICA
Mica Plates
Mica Strips
Mica Discs
Mica Shields & Gaskets
Mica Tiles, Cards and Circles
High Quality Transistor Mica Insulators
Mica Strainer Cores
High Temperature Mica: Shellac Bonded
Mica Tubes, Mica Washers.
Mica Stove Windows
Precision cut mica parts
MICA SHEETS,
BOARDS AND PAPER
Natural Micanite Sheets (various
adhesive bondings)
Mica Paper Processed Sheets
Cut Mica Boards
Mica Paper
Flexible Mica Sheet
OTHER MICA
PRODUCTS
Mica Powder (Finest quality)
Mica Scrap
Mica Flakes
Crude Mica
Customized Mica Product(s)
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. 39.94 |
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UK Pound |
1 |
Rs. 78.81 |
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Euro |
1 |
Rs. 63.05 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
2 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
- |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
- |
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--CREDIT LINES |
1~10 |
- |
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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 |
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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8 |
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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