MIRA
INFORM REPORT
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Report Date : |
09.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
BERRYS AUTO ANCILLARIES PRIVATE LIMITED |
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Registered Office : |
8/4 East Patel Nagar, New Delhi – 110008 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
10.09.1975 |
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Com. Reg. No.: |
55-7899 |
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CIN No.: [Company
Identification No.] |
U74899DL1975PTC007899 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELB08071A |
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PAN No.: [Permanent
Account No.] |
AAACB8058N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of auto ancillaries, spare parts, equipment for all types
of Vehicles including scooters, moped, motor cycles and tractors |
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 6000 |
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Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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Comments : |
Subject is an old and established company having moderate track
records. Company’s profitability is under severe pressure. The company has some
accumulated losses. No complaints have been heard. The company can be considered for small to mediocre business
dealings. |
LOCATIONS
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Registered Office : |
8/4 East Patel Nagar, New Delhi – 110008, India |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Deepak Suri |
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Designation : |
Director |
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Address : |
C-203, Nirala Nagar, Lucknow – 226020 |
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Date of Birth/Age : |
13.10.1945 |
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Date of Appointment : |
21.06.1976 |
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Name : |
Mrs. Geeta Suri |
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Designation : |
Director |
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Address : |
C-203, Nirala Nagar, Lucknow – 226020 |
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Date of Birth/Age : |
14.08.1949 |
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Date of Appointment : |
01.09.1993 |
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Name : |
Mr. Mohit Suri |
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Designation : |
Director |
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Address : |
C-203, Nirala Nagar, Lucknow – 226020 |
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Date of Birth/Age : |
31.07.1974 |
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Date of Appointment : |
01.04.1998 |
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Name : |
Mr. Rohit Suri |
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Designation : |
Director |
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Address : |
C-203, Nirala Nagar, Lucknow – 226020 |
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Date of Birth/Age : |
12.03.1982 |
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Date of Appointment : |
01.05.2007 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Deepak Suri |
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4350 |
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Ms. Geeta Suri |
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3650 |
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Mr. Mohit Suri |
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1000 |
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Mr. Rohit Suri |
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1000 |
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Total |
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10000 |
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BUSINESS DETAILS
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Line of Business : |
Manufacturer of auto ancillaries, spare parts, equipment for all types
of Vehicles including scooters, moped, motor cycles and tractors |
PRODUCTION STATUS
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Actual
Production |
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844840
pcs |
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GENERAL
INFORMATION
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Bankers : |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
P. N. Khanna and Company Chartered Accountants |
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Address : |
14/15F Shivam House Connaught Place, New Delhi – 110001, India |
CAPITAL STRUCTURE
AS ON
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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15000 |
Equity Shares |
Rs. 100/- each |
Rs. 1.500 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 100/- each |
Rs. 1.000
Million |
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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 |
1.000 |
1.000 |
1.000 |
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2] Share Application Money |
0.200 |
0.200 |
0.200 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.200 |
1.200 |
1.200 |
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LOAN FUNDS |
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1] Secured Loans |
0.161 |
0.366 |
0.562 |
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2] Unsecured Loans |
0.121 |
0.364 |
0.647 |
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0.282 |
0.730 |
1.209 |
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DEFERRED TAX
LIABILITIES |
0.147 |
0.138 |
0.100 |
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TOTAL |
1.629 |
2.068 |
2.509 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.502 |
2.666 |
2.135 |
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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 |
0.302
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2.604 |
5.111 |
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Sundry Debtors |
5.340
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7.348 |
3.187 |
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Cash & Bank Balances |
1.708
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0.311 |
0.070 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
0.210
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0.074 |
0.069 |
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Total
Current Assets |
7.560
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10.337 |
8.437 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
12.363
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15.387 |
12.574 |
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Provisions |
0.409
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0.009 |
0.000 |
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Total
Current Liabilities |
12.772
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15.396 |
12.574 |
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Net Current Assets |
(5.212) |
(5.058) |
(4.137) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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Profit and Loss |
3.339 |
4.461 |
4.511 |
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TOTAL |
1.629 |
2.068 |
2.509 |
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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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10.88
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13.44 |
11.49 |
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Current Ratio (Current Asset/Current Liability) |
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0.59
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0.67 |
0.67 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges Report
as per Registry
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Name of the company |
BERRYS AUTO
ANCILLARIES PRIVATE LIMITED |
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Presented By |
Bank of India,
Nirala Nagar Branch, Lucknow |
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1) Date and description of instrument creating the change |
Hypothecation of all
tangible movable properties dted 21.01.2004 and registered on 19.02.2004 |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 4.000
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
all tangible movable assets including in particular stock of raw material,
work in process and finished goods consisting HR Sheets, CR Sheets, MS Pipes
at RW Coated Cotton Fabrics wheels RIM Wheelers, Scootee Seat lying at its
office cum godown or anywhere else or in transit whether present and future
situated at C – 23, Amausi Industrial Area and / B – 16, SIL, Industrial
Estate, Amausi, Lucknow and all book debts, outstanding money receivable,
claims and bills which are now due and owing. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
[i] Repayable on
Demand Rate of Interest – 12.25 % [ii] Margin 25 %
- Stocks 30 % - Book Debts |
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5) Name and Address and description of the person entitled to the charge. |
Bank of India, Nirala Nagar
Branch, 4, Commercial, Lucknow
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6) Date and brief description of instrument modifying the charge |
[a] Supplemental
Agreement of Hypothecation of Stocks [L - 481] dated 03.12.2004 Registration
03.01.2005 [b] Supplemental
Agreement of Hypothecation of stocks [l - 481] Dated 17.08.2005 |
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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. |
[a] On renewal,
the aforesaid cash credit limit has now been enhanced from Rs. 4.000 Millions
to Rs. 6.000 Millions by the sanction of additional sum of Rs. 2.000
Millions. Therefore the total amount of charge secured against hypothecation
of stocks etc. as mentioned in column No. [3] above has now been enhanced
from Rs. 4.000 Millions to Rs. 6.000 Millions. Other terms and conditions
remain the same. [b] Limit raised
from Rs. 6.000 Millions to Rs. 7.500 Millions. Other terms and conditions
remain the same. |
Fixed Assets
- Machinery
- Machine Tools
- Electricity Fittings
- Office Equipments
- Furniture and Fixture
- Dies and Patterns
- Car
- Cycle
- Leasehold Land
- Factory Building
- Ceiling Fan
- Scooter
- Air Conditioner
- Fax Machine
- Water Pump
- D. G. Set
- Computer
- Land
- Rickshow Trolly
- Camera
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.49.22 |
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UK Pound |
1 |
Rs.73.03 |
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Euro |
1 |
Rs.63.14 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
7 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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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 |
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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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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