MIRA
INFORM REPORT
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Report Date : |
27.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
AARKAY ENGINEERS |
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Registered Office : |
M – 48, Old DLF Colony, Near Sector – 14, Gurgaon – 122001, Haryana |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
10.03.2003 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Trader of Air Conditioners. |
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 6000 |
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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 concern having satisfactory
track. Trade relations are reported as fair. Payments are usually correct and
as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Rajinder Kukreja |
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Designation : |
Proprietor |
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Contact No.: |
91-9818092429 |
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Date : |
22.08.2008 |
LOCATIONS
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Registered Office : |
M – 48, Old DLF Colony, Near Sector – 14, Gurgaon – 122001, Haryana |
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Head Office : |
UG – 12, Golden Jublic Plaza, Near Saraswati Hospital, Gurgaon -
122001, Haryana, |
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Tel. No.: |
91-124-4082228 / 2223405 |
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Mobile No.: |
91-9818092429 |
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Fax No.: |
91-124-4082228 |
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E-Mail : |
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Area : |
400 sq ft |
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Location : |
Rented |
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Godown : |
Mata Sheeta Road, Near Mamta Hospital, Gurgaon – 122001, Haryana |
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Area : |
800 sq ft |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. Rajinder Kukreja |
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Designation : |
Proprietor |
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Date of Birth/Age : |
45 years |
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Qualification : |
Post Graduate |
BUSINESS DETAILS
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Line of Business : |
Trader of Air Conditioners. |
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Agencies Held : |
Carrier |
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Terms : |
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Selling : |
Cash and Credit (30 days) |
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Purchasing : |
Cash and Credit (30 days) |
GENERAL
INFORMATION
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Customers : |
Retailers, End Users and Corporate Customers |
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No. of Employees : |
(Office – 4 + Workshop – 25) = 29 |
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Bankers : |
v HDFC Bank v Kotak Mahindra,
Sector 14, Gurgaon v Oriental Bank of
Commerce, Gurgaon, Haryana |
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Facilities : |
D/D – Rs. 0.750 Millions |
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Auditors: |
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Name: |
Sanjeev Suyash and Associates (Chartered Accountant) |
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Address: |
228, 229 1st Fllor, Beep Plaza Opposite District Court |
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Tel No: |
91-22-4066984 |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.347 Millions |
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Borrowed : |
-- |
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Total : |
Rs. 1.347 Millions |
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 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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1.347 |
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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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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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1.347 |
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LOAN FUNDS |
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1] Secured Loans |
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2.709 |
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2] Unsecured Loans |
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0.384 |
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TOTAL BORROWING |
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3.093 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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4.440 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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4.246 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.314 |
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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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0.557 |
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Sundry Debtors |
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1.520 |
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Cash & Bank Balances |
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1.731 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.026 |
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Total
Current Assets |
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3.834 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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3.350 |
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Provisions |
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0.604 |
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Total
Current Liabilities |
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3.954 |
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Net Current Assets |
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(0.120) |
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MISCELLANEOUS EXPENSES |
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0.00 |
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TOTAL |
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4.440 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
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Sales Turnover |
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35.000 |
17.993 |
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Total Income |
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35.000 |
17.993 |
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Profit/(Loss) Before Tax |
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NA |
0.717 |
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Provision for Taxation |
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NA |
0.000 |
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Profit/(Loss) After Tax |
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NA |
0.717 |
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Expenditures : |
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Consumption of stores and spares parts |
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0.536 |
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Salaries, Wages, Bonus, etc. |
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NA |
1.213 |
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Interest |
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0.041 |
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Other Expenditure |
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15.486 |
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Total Expenditure |
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17.276 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
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PAT / Total Income |
(%) |
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3.98 |
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Net Profit Margin (PBT/Sales) |
(%) |
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3.98 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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8.87 |
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Return on Investment (ROI) (PBT/Networth) |
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0.53 |
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Debt Equity Ratio (Total Liability/Networth) |
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5.23 |
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Current Ratio (Current Asset/Current Liability) |
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0.96 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference:-
v
Honda Motor Cycle and Scooter (IMT Manseal)
v
Srigoo Glass Private Limited (IMT Manseal)
v
Ranbxy Laboratories (Sector 18, Gurgaon)
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.43.73 |
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UK Pound |
1 |
Rs.80.57 |
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Euro |
1 |
Rs.64.29 |
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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