MIRA
INFORM REPORT
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Report Date : |
19.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
CHOPRA INDUSTRIES PRIVATE LIMITED |
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Registered Office : |
HB 4, Phase VI, Focal Point, Ludhiana – 141010, Punjab |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
31.03.2003 |
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Com. Reg. No.: |
16-25894 |
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CIN No.: [Company
Identification No.] |
U00000PB2003PTC025894 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
JLDC00687B |
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PAN No.: [Permanent
Account No.] |
AACCC2816 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Steel Metal and Tubular Components for Automobile Industry. |
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 120000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established and reputed company meeting its normal
commitments timeously. Trade relations are fair. Business is active. The company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Rishi Chopra |
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Designation : |
Director |
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Contact No.: |
91-9815400090 |
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Date : |
14.08.2008 |
LOCATIONS
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Registered Office/ Factory : |
HB 4, Phase VI, Focal Point, Ludhiana – 141010, Punjab, India |
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Tel. No.: |
91-160-2674728 |
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Mobile No.: |
91-9815400090 |
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E-Mail : |
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Website : |
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Area : |
2500 sq. ft. (They have 3 office as including registered office 1 plot = 2500 sq.
ft.) |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Vikas Chopra |
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Designation : |
Director |
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Address : |
HB 4, Phase VI, Focal Point, Ludhiana – 141010, Punjab, India |
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Qualification : |
Mechanical Engineer |
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Date of Appointment : |
31.03.2003 |
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Name : |
Mr. Rishi Chopra |
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Designation : |
Director |
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Address : |
HB 4, Phase VI, Focal Point, Ludhiana – 141010, Punjab, India |
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Qualification : |
B. Com |
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Date of Appointment : |
31.03.2003 |
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Name : |
Mr. Neeraj Chopra |
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Designation : |
Director |
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Address : |
HB 4, Phase VI, Focal Point, Ludhiana – 141010, Punjab, India |
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Qualification : |
B. Com |
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Date of Appointment : |
31.03.2003 |
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Name : |
Mr. Jatinder Chopra |
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Designation : |
Director |
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Address : |
HB 4, Phase VI, Focal Point, Ludhiana – 141010, Punjab, India |
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Qualification : |
B. Sc. |
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Date of Appointment : |
01.06.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(A son 30.09.2005)
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Names of Shareholders |
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No. of Shares |
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Vikas Chopra |
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156000 |
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Rishi Chopra |
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156000 |
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Neeraj Chopra |
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156000 |
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Jatinder Chopra |
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1000 |
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Chopra Engineer |
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1000 |
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Varinder Kumar |
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1000 |
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Shasi Chopra |
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1000 |
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Bhavika Chopra |
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1000 |
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Sheetal Chopra |
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1000 |
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Total |
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474000 |
(As on 31.03.2007)
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Category |
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Percentage
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Bodies Corporate (Not
Mentioned above) |
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0.21 |
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Directors or relatives of directors |
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99.79 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Steel Metal and Tubular Components for Automobile
Industry. |
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Products : |
Steel Metal Components |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
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Terms : |
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Selling : |
Credit (45-80 days) |
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Purchasing : |
L/C, Cash and Credit |
GENERAL
INFORMATION
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Customers : |
Manufacturers |
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No. of Employees : |
500 and (2 more office near by) |
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Bankers : |
Punjab National Bank, Chandigarh Road, Ludhiyana – 141008, Punjab,
India |
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Facilities : |
CC – Rs.50.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Bal Mahajan and Company Chartered Accountant |
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Address : |
G T Road, Miller Gunj, Ludhiana – 141003, Punjab, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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474000 |
Equity Shares |
Rs.10/- each |
Rs.4.740
Millions |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
4.740 |
4.740 |
4.740 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
18.796 |
13.055 |
8.283 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
23.536 |
17.795 |
13.023 |
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LOAN FUNDS |
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1] Secured Loans |
30.375 |
19.507 |
1.266 |
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2] Unsecured Loans |
24.988 |
23.048 |
21.028 |
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TOTAL BORROWING |
55.363 |
42.555 |
22.294 |
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DEFERRED TAX LIABILITIES |
1.111 |
1.362 |
1.238 |
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TOTAL |
80.010 |
61.712 |
36.555 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
39.858 |
38.987 |
28.641 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.013 |
0.013 |
0.070 |
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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 |
24.767
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14.163 |
11.190 |
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Sundry Debtors |
52.647
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49.555 |
39.032 |
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Cash & Bank Balances |
13.935
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12.350 |
5.376 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
11.939
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5.105 |
4.377 |
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Total
Current Assets |
103.288
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81.173 |
59.975 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
54.918
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52.533 |
49.810 |
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Provisions |
8.264
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5.995 |
2.422 |
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Total
Current Liabilities |
63.182
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58.528 |
52.232 |
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Net Current Assets |
40.106
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22.645 |
7.743 |
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MISCELLANEOUS EXPENSES |
0.033 |
0.067 |
0.101 |
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TOTAL |
80.010 |
61.712 |
36.555 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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5.04
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5.68 |
5.72 |
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Current Ratio (Current Asset/Current Liability) |
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1.63
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1.39 |
1.15 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference:
- Munjal Auto India Private Limited
- Satyam Components India Private Limited
Form 8:
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Corporate
identity number of the company |
U00000PB2003PTC025894 |
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Name of the
company |
CHOPRA INDUSTRIES PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
HB 4, Phase VI, Focal Point, Ludhiana – 141010, Punjab, India |
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This form is for |
Modification of charge |
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Type of charge |
Immovable
Property Book Debts Movable Property |
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Particular of
charge holder |
Punjab National
Bank Chandigarh Road, Ludhiana
– 141008, Punjab, India |
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Nature of
instrument creating charge |
Letter of
Continuity Hypothecation of
goods and book Debts to secure cash Credit Facility Details of Title
Deeds Hypothecation
Agreement to secure working capital limite |
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Date of
instrument Creating the charge |
17.10.2007 |
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Amount secured by
the charge |
Rs.50.000
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
Interests: 13.50% p.a. Terms of
Repayment: Terms of
Repayment on demand Margin: Margin on Stock
235% and Book Debts 40% Extent and
Operation of the charge: Extent and
Operation of the charge is 100% Others: Cash Credit Facilities
bifurcation is as under: CC Stocks Rs.50.000 Millions CC Book
Debts Rs.30.000 Millions Maximum Limkt of
(1+2) Cash Credit Limit is Rs.50.000 Millions |
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Particulars of
the property charged |
Primary
Securities: Hypothecation of Stock and Book Debts Collateral
Security Equal Mortgage by
deposit of lease Deed no.11706 dt. 19.08.2005 Plot Measuring 2500 sq. yards
situated at HB VI Phase Focal Point Ludiana and lease Deeds No.26200 dt.
09.02.2005 Plot Measuring 2300 dsq. Yards situated at HB – IV, Phase – VI,
Focal Point, bothe in the name of the company. |
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Particulars of
the present modification |
The total cash
Credit Limits enhanced to Rs.50.000 Millions Other and Conditions remain the
same. |
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 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 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.43.23 |
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UK Pound |
1 |
Rs.80.89 |
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Euro |
1 |
Rs.63.80 |
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 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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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 |
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 |
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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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