MIRA
INFORM REPORT
|
Report Date : |
28.08.2008 |
IDENTIFICATION
DETAILS
|
Name : |
RAMA MOTORS PRIVATE LIMITED |
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Registered Office : |
A-2/12, Safdarjung Enclave, New Delhi – 110 029, Delhi |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
11.08.1999 |
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Com. Reg. No.: |
55-101093 |
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CIN No.: [Company
Identification No.] |
U34101DL1999PTC101093 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELR08316A |
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PAN No.: [Permanent
Account No.] |
AABCR5266K |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Sale and Servicing of Cars, Spares, Accessories, Auto Finance and Other
Services. |
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 42000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Unknown |
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Comments : |
The company is no more a dealer for Hyundai Passenger car since 14th
September, 2007. Financial position of the company may be regarded as moderate.
Payments are reported as slow but correct. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
A-2/12, Safdarjung Enclave, New Delhi – 110 029, Delhi |
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Tel. No.: |
91-11-51650000 |
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E-Mail : |
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Factory : |
A-87, Okhla Phase – II, New Delhi – 110 020, India |
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Tel. No.: |
91-11-43515889 / 40503434 |
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Mobile No.: |
91-9810173481, 9810131831 |
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Fax No.: |
91-11-43515889 / 40503434 |
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E-Mail : |
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Area : |
2042 Sq. ft. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Parveen Goel |
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Designation : |
Director |
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Address : |
B-5/68, Safdarjung Enclave, New Delhi – 110 029, Delhi, India |
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Date of Birth/Age : |
12.01.1966 |
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Date of Appointment : |
11.08.1999 |
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Name : |
Mr. Ram Murti |
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Designation : |
Director |
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Address : |
B-5/68, Safdarjung Enclave, New Delhi – 110 029, Delhi, India |
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Date of Birth/Age : |
25.03.1928 |
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Date of Appointment : |
11.08.1999 |
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Name : |
Mr. Anil Kumar Bansal |
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Designation : |
Director |
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Address : |
1037/1, Dandi Swami Chowk, Civil Lines, Ludhiana – 141 001, Punjab,
India |
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Date of Birth/Age : |
15.12.1957 |
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Date of Appointment : |
15.01.2007 |
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Name : |
Mr. Vinay Bansal |
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Designation : |
Director |
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Address : |
1037/1, Dandi Swami Chowk, Civil Lines, Ludhiana – 141 001, Punjab,
India |
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Date of Birth/Age : |
09.03.1965 |
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Date of Appointment : |
22.12.2006 |
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Name : |
Mr. Shakil Fasathay |
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Designation : |
Director |
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Address : |
B-103, Yasmeen Palace, Shakar Mullah, Nalla Sopara (W), Mumbai – 401
203, Maharashtra, India |
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Date of Appointment : |
22.12.2006 |
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Date of Appointment : |
22.12.2006 |
KEY EXECUTIVES
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Name : |
M/s D Verma and Associates |
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Designation : |
Company Secretary |
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Address : |
N-226, LGF, greater Kailash-I, New Delhi – 110 048, Delhi, India |
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Tel No. : |
91-11-41734656 |
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Mobile No/ : |
91-9810007182 |
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Email : |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.03.2007)
|
Names of Shareholders |
No. of Shares |
|
Jagdish Goel |
430000 |
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Abha Goel |
80000 |
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Anisha Goel |
10000 |
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Aditya Goel |
10000 |
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Tarini Goel |
10000 |
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Total |
540000 |
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Preference
Shares |
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Hans Air Services Private Limited |
750000 |
Equity shares Breakup (percentage of total equity)
(As on 30.09.2007)
|
Category |
Percentage |
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Other top fifty (50) shareholders |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Sale and Servicing of Cars, Spares, Accessories, Auto Finance and
Other Services. |
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Agencies Held : |
Hyundai Motors India Limited till 14th September, 2007 |
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Terms : |
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Selling : |
Cash and Credit - 30 days |
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Purchasing : |
Cash |
GENERAL
INFORMATION
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Customers : |
End Users |
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No. of Employees : |
110 (In Office 31 and In Factory 79) |
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Bankers : |
·
Oriental
Bank of Commerce Safdarjung Enclave, New Delhi – 110 029,
Delhi, India ·
HDFC Bank Limited HDFC House, B-6/3, Safdarjung Enclave, New
Delhi – 110 029, India |
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Facilities : |
Rs.4.250 millions |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Arun Dua and Associates Chartered Accountants |
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Address : |
C-58, Kalkaji, Delhi – 110 019, New Delhi, India |
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Sister Concern : |
Hans Air Services Private Limited Address : 1, NCL
Building, Ground Floor, C-6 Block-E, Bandra Kurla Complex, Mumbai – 400 051,
Maharashtra, India Line of Business
:
International Airlines Ticketing |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1500000 |
Equity Shares |
Rs.10/- each |
Rs.15.000 millions |
|
1500000 |
Preference Shares |
Rs.10/- each |
Rs.15.000 millions |
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Total |
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Rs.30.000
millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
540000 |
Equity Shares |
Rs.10/- each |
Rs.5.400
millions |
|
750000 |
Preference Shares |
Rs.10/- each |
Rs.7.500
millions |
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Total |
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Rs.12.900 millions |
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 |
12.900 |
12.900 |
12.900 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
8.043 |
8.091 |
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4] (Accumulated Losses) |
(4.518) |
0.000 |
0.000 |
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NETWORTH |
8.382 |
20.943 |
20.991 |
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LOAN FUNDS |
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1] Secured Loans |
9.585 |
122.502 |
1.744 |
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2] Unsecured Loans |
145.791 |
97.465 |
65.983 |
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TOTAL BORROWING |
155.376 |
219.967 |
67.727 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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Other Current Assets Negative Balance |
67.840 |
0.000 |
0.000 |
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TOTAL |
231.598 |
240.910 |
88.718 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
21.773 |
21.027 |
14.225 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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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 |
171.937
|
96.897 |
43.559 |
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Sundry Debtors |
31.653
|
113.712 |
18.938 |
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Cash & Bank Balances |
9.387
|
6.273 |
1.002 |
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Other Current Assets |
0.000
|
21.786 |
16.617 |
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Loans & Advances |
6.357
|
7.121 |
2.695 |
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Total
Current Assets |
219.334
|
245.789 |
82.811 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
8.453
|
25.291 |
7.729 |
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Provisions |
1.056
|
0.615 |
0.589 |
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Total
Current Liabilities |
9.509
|
25.906 |
8.318 |
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Net Current Assets |
209.825
|
219.883 |
74.493 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
231.598 |
240.910 |
88.718 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
1020.785 |
1474.669 |
260.188 |
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Other Income |
0.000 |
0.220 |
0.000 |
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Total Income |
1020.785 |
1474.889 |
260.188 |
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Profit/(Loss) Before Tax |
(12.248) |
1.081 |
1.341 |
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Provision for Taxation |
0.313 |
1.129 |
0.410 |
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Profit/(Loss) After Tax |
(12.561) |
(0.048) |
0.931 |
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Expenditures : |
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Financial Charges |
12.284 |
17.446 |
4.158 |
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Depreciation & Amortization |
3.463 |
2.842 |
1.737 |
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Other Expenditure |
1017.286 |
1453.520 |
252.952 |
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Total Expenditure |
1033.033 |
1473.808 |
258.847 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
(1.23)
|
0.00 |
0.36 |
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Net Profit Margin (PBT/Sales) |
(%) |
(1.20)
|
0.07 |
0.52 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(5.08)
|
0.41 |
1.38 |
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Return on Investment (ROI) (PBT/Networth) |
|
(1.46)
|
0.05 |
0.06 |
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Debt Equity Ratio (Total Liability/Networth) |
|
19.67
|
11.74 |
3.62 |
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Current Ratio (Current Asset/Current Liability) |
|
23.07
|
9.49 |
9.96 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References :
·
Mr. S. R. Sikka and Sikka Associates (Architects)
Address
:
B-2/20, Safdarjung Enclave, New Delhi -
110 029, India
Tel
No. : 91-11-26107053, 91- 9810166447
·
Mr. D. C. Seol, Sr. G. M. Hyundai Motors India Limited
Address
:
A-30, Mathura Road, New Delhi, India
Tel
No. : 91-9811278783
·
Mr. Bharat Shah, Executive Director,
Address
:
HDFC Bank Limited, Bank House, Kamala Mills Compound, Mumbai, Maharashtra,
India
Tel
No. : 91-9322408086
·
Mr. V. Laxmikumaran
Address
:
B-6/10, Safdarjung Enclave, New Delhi, India
Tel
No. : 91-11-26192243, 41299800
Form No. 8
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Name of the company |
RAMA MOTORS PRIVATE LIMITED |
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Presented By |
Mr. Parveen Goel,
Director |
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1) Date and description of instrument creating the change |
Hypothecation of
Assets Agreement for cash credit / overdraft / Demand Loan on L.D-11 dated
05.01.2000. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.32.500 millions |
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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 |
Hypothecation of
stocks of Hyundai Vehicles, stores and spraes etc. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
ROI 15.81% P.A.
on quarterly Debts with penal interest @ 2.04% P.A. in case account becomes
irregular. Margin 1.5% on Vehicles and 40% spare parts and stores. |
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5) Name and Address and description of the person entitled to the charge. |
Oriental Bank of
Commerce Safdarjung Enclave, New Delhi |
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6) Date and brief description of instrument modifying the charge |
Not Applicable |
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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. |
Not Applicable |
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.43.73 |
|
UK Pound |
1 |
Rs.80.57 |
|
Euro |
1 |
Rs.64.29 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
4 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
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--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 |
|
29 |
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 |
|