MIRA
INFORM REPORT
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Report Date : |
05.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
ROLAX AUTO PRIVATE LIMITED |
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Registered Office : |
B-77, Mayapuri Industrial Area, Phase I, New Delhi – 110 064. |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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CIN No.: [Company
Identification No.] |
U74899DL1987PTC028181 |
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Legal Form : |
Private limited liability company |
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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Status : |
Small Company |
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Payment Behaviour : |
No complaints |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company in its field. Trade relations are
fair. Scale of activity is limited. No complaints have been heard. The concern can be considered for small to mediocre business dealings. |
LOCATIONS
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Registered Office : |
B-77, Mayapuri Industrial Area, Phase I, New Delhi – 110 064, India. |
DIRECTORS
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Name : |
Mr.Dev Arora |
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Designation : |
Chairman-cum-Managing Director |
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Address : |
A-25, New Krishna Park, New Delhi – 110 018, India. |
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Date of Birth/Age : |
17.10.1946 |
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Date of Appointment : |
01.06.1987 |
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Name : |
Mrs.Deepali Arora |
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Designation : |
Director |
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Address : |
A-25, New Krishna Park, New Delhi – 110 018, India. |
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Date of Birth/Age : |
16.10.1977 |
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Date of Appointment : |
01.12.2004 |
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MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON (30.092006)
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Names of Shareholders |
No. of Shares |
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Mr.Dev Arora |
54 |
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Mrs.Deepali Arora |
50 |
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Equity Share
Breakup |
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Percentage of
Holding |
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Category
(31.03.2006) |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
NA |
GENERAL
INFORMATION
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Bankers : |
-- |
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Facilities : |
Particulars |
Rs.in
Millions |
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SECURED LOAN: From Bank |
0.199 |
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Total |
0.199 |
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UNSECURED LOAN: From Others |
1.744 |
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Total |
1.744 |
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Grand Total |
1.943 |
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Banking
Relations : |
-- |
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Auditors : |
Rishabh Jain and Associates |
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Chartered Accountant |
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Address : |
A-248, Surya Nagar, Ghaziabad – 201 011, Uttar Pradesh, India. |
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Pan No.: |
AAHPJ3617M |
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Associates/Subsidiaries : |
NIL |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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5000 |
Equity Shares |
Rs. 100/- Each |
0.500 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1004 |
Equity Shares |
Rs. 100/- Each |
1.004 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 |
31.03.2005 |
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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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(0.150) |
(0.420) |
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NETWORTH |
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(0.050) |
(0.320) |
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LOAN FUNDS |
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1] Secured Loans |
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0.199 |
0.439 |
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2] Unsecured Loans |
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1.745 |
0.775 |
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TOTAL BORROWING |
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1.944 |
1.214 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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1.894 |
0.894 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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2.596 |
1.707 |
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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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4.762 |
6.774 |
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Sundry Debtors |
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9.442 |
7.744 |
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Cash & Bank Balances |
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0.098 |
0.485 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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1.513 |
0.589 |
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Total
Current Assets |
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15.815 |
15.592 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities and Provision |
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16.521 |
16.408 |
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Total
Current Liabilities |
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16.521 |
16.408 |
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Net Current Assets |
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(0.706) |
(0.816) |
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MISCELLANEOUS EXPENSES |
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0.004 |
0.003 |
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TOTAL |
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1.894 |
0.894 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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53.673 |
33.278 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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53.673 |
33.278 |
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Profit/(Loss) Before Tax |
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0.429 |
0.024 |
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Provision for Taxation |
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0.160 |
0.000 |
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Profit/(Loss) After Tax |
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0.269 |
0.024 |
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Total Expenditure |
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53.244 |
33.254 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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0.5 |
0.1 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.8 |
0.1 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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2.3 |
0.1 |
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Return on Investment (ROI) (PBT/Networth) |
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0.4 |
0.3 |
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Debt Equity Ratio (Total Liability/Networth) |
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16.5 |
16.1 |
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Current Ratio (Current Asset/Current Liability) |
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0.9 |
0.9 |
LOCAL AGENCY
FURTHER INFORMATION
FIXED ASSETS:
v Car
v Computer
v Plant and Machinery
v Weighing Machine
v Fan
v Tools and Gauge
v Land and Building
MAIN OBJECTS TO BE PURSUED BY THE COMPANY ON ITS INCORPORATION ARE:
1)
To acquire and take over the plot of Anita and Company No.303,
Phase-II, Udyog Vihar, Gurgaon (Haryana) for such consideration whether in cash
or in share of the company as may be agreed upon between the company and the
owner of the plot.
2)
To manufacture, buy, sell, import, export,
fabricate, and to otherwise deal in wheel rims, tubular components and all
kinds of spare part of to be used in all types of scooters, motor cycles,
mopeds, cars and other vehicles whether mechanically driven or otherwise.
3)
To carry on the business of manufacture of and
dealers in all type of rubber, leather, celluloid, bakelite and all rubber
goods such as industrial rolls, rollers, sheets beltings and such as tyres,
tubes, fan belts, V-belts and all other type of rubber parts and conveyors.
4)
To act as dealers in all types of vehicles.
OPERATIONS:
The Gross receipt of the Company during the
year have been increased to Rs.53.673 Millions as compared to Rs.33.278
Millions of the last year. The Expenditure has been increased from 33.253
Millions of the last year to 53.234 Millions.
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.49.79 |
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UK Pound |
1 |
Rs.73.37 |
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Euro |
1 |
Rs.63.08 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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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 |
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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27 |
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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