MIRA
INFORM REPORT
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Report Date : |
22.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
PEARL LIGHTING PRIVATE LIMITED |
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Formerly Known As : |
EGLO LIGHTING PRIVATE LIMITED |
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Registered Office : |
AG- 24, Shalimar Bagh, Delhi – 110088 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
19.09.2005 |
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Com. Reg. No.: |
140918 |
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CIN No.: [Company
Identification No.] |
U31501DL2005PTC140918 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELE04088A |
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PAN No.: [Permanent
Account No.] |
AABCE5113E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers of Decorative Lamps |
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 800 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Mr. Rajendra Jain, CEO of the company declined business and financial
details. He was contacted to up-date the details without inquires identity. Subject appears to be a small and little known company. Recently Mr. Ludwig
Obwieser, Austria acquired 56.10 % share in the company. Trade relations are
reported as fair. Payments are reported as slow but correct. The company can be considered for small business dealings at usual
trade terms and conditions. If more information are available. It well follow soon as a. |
DECLINED TO PART
INFORMATION
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Name : |
Mr. Rajendra Kumar Jain |
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Designation : |
Chief Executive Officer |
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Date : |
18.04.2008 |
LOCATIONS
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Registered Office / Factory : |
AG- 24, Shalimar Bagh, Delhi – 110088, India |
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Tel. No.: |
91-11 27470887, 27472364 |
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E-Mail : |
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Website : |
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Area : |
Small - Rented |
DIRECTORS
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Name : |
Mr. Rajesh Kumar Goel |
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Designation : |
Director |
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Address : |
E – 2/141, Sector -16, Rohini, Delhi – 110085, India |
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Date of Birth/Age : |
12.07.1974 |
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Date of Appointment : |
01.10.2006 |
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Other Directorship : |
Flair Buildwell Private Limited CIN No. : U45201DL2004PTC127300 |
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Name : |
Mr. Prayas Jain |
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Designation : |
Director |
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Address : |
BT-46, Shalimar Bagh, Delhi – 110088, India |
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Date of Birth/Age : |
20.03.1969 |
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Date of Appointment : |
19.09.2005 |
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Name : |
Mr. Rajendra Kumar Jain |
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Designation : |
Director |
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Address : |
AG- 24, Shalimar Bagh, Delhi – 110088, India |
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Date of Appointment : |
19.09.2005 |
KEY EXECUTIVES
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Name : |
Mr. Rajendra Kumar Jain |
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Designation : |
Chief Executive Officer |
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Tel No. : |
91-11-42258024 |
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Name : |
Ms. Vandana Arora |
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Designation : |
Office Manager |
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Mobile No. : |
91-9811232464 |
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Name : |
Mr. Vinay Gupta |
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Designation : |
Sales |
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Mobile No. : |
91-9910170206 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON 26th May 2006
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Names of Shareholders |
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No. of Shares |
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Mr. Rajender Kumar Jain |
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9900 |
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Mr. Prayas Jain |
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100 |
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Total |
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10000 |
AS ON 30th September 2006
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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 |
List of Allotees
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Names |
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No. of Shares |
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Mr. Ludwig Obwieser |
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56100 |
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Mr. Rajinder Kumar Jain |
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43900 |
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Total |
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100000 |
List of Allotees as on 21st January 2008
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Names |
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No. of Shares |
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International HK Holding Limited |
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198900 |
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Rajender Kumar Jain |
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191100 |
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Total |
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390000 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers of Decorative Lamps |
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Terms : |
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Selling : |
Credit [30-60 days] |
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Purchasing : |
Credit [30-60 days] |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
60 [In Office : 10; In Factory : 50] |
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Bankers : |
Not Divulged |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Suresh C Gupta and Associates Chartered Accountants |
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Address : |
B – 28/1, Wazirpur Industrial Area, Delhi – 110052, India |
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Associates/Subsidiaries : |
Flair Buildwell Private Limited CIN No. : U45201DL2004PTC127300 |
CAPITAL STRUCTURE
AS ON 30.09.2006
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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110000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.100 Millions |
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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31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.110 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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0.210 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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0.420 |
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TOTAL BORROWING |
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0.420 |
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DEFERRED TAX LIABILITIES |
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TOTAL |
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0.630 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.164 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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9.318 |
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Sundry Debtors |
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2.912 |
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Cash & Bank Balances |
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0.367 |
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Other Current Assets |
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0.005 |
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Loans & Advances |
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1.164 |
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Total
Current Assets |
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13.766 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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13.330 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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13.330 |
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Net Current Assets |
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0.436 |
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MISCELLANEOUS EXPENSES |
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0.030 |
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TOTAL |
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0.630 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
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Sales Turnover [Estimated] |
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18.000 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
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Debt Equity Ratio (Total Liability/Networth) |
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65.48 |
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Current Ratio (Current Asset/Current Liability) |
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1.03 |
LOCAL AGENCY
FURTHER INFORMATION
AS PER WEBSITE
Life is LIGHT
The HighLIGHTS philosophy of the EGLO group's lighting
includes production and market use of the full range of decorative lamps for
residential premises. They are aimed at further development by means of
competent problem-solving in this market segment.
Design is LIGHT
With an attractive spectrum of products, which individually
covers all lighting concepts from up-to-date designs to the rustic
country-cottage style, an extensive affinity of the target group is to be
achieved.
Service is LIGHT
Innovative implementation strategies form a broad acceptance
of products on the market and ensure the highest possible satisfaction in all
customer areas. Integrated concepts of products,from certified manufacture to a
regulated system of quality control and accurate mounting instructions up to
the warranty and maintenance service aimed at customer satisfaction, represent
the basis for stable relationships with consumers.
Success is LIGHT
Not only short-lived success, but long-lasting co-operation
with customers and partners, as well as a stable quality of communication and
production, are pivotal in their company's philosophy.
Emotion is LIGHT
EGLO Group is developing comprehensive lighting concepts for
people's well-being, for improvement of the quality of life with the help of
extraordinary lighting solutions. The symbiosis of shape and function, design
and optimization of the quality of light form the centre of their continuous
development. Their desire is to produce lighting as a stylish component, an
expressive instrument of individual identity and a journey to personal
well-being.
Light and architecture. Light makes
architecture. It creates a stage. It plays with space. It forms life's phases.
And it creates a mood. From trendy-cool to crazy-innovative. And from
classically elegant to timeless style.
Light
Categories
- Modern Living
- Hanging Lamps
- Chandeliers
- Country
Cottage / Rustic Style
- Wall and
Ceiling Lamps
- Picture,
Mirror lamps and Downlights
- Kitchen
downlights
- High and Low
voltage systems
- Bus Bar Units
& Halogen Lamps
- Spot Lights
- Teens &
Children
- Desk Lamps
- Floor Lamps
- Outdoor
fittings
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.39.89 |
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UK Pound |
1 |
Rs.79.65 |
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Euro |
1 |
Rs.63.06 |
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 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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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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32 |
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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