MIRA
INFORM REPORT
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Report Date : |
16.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
BAJAJ RUBBER COMPANY PRIVATE LIMITED |
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Registered Office : |
C-47, Mayapuri Industrial Area, Phase – II, New Delhi – 110 064. |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
13.03.2003 |
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Com. Reg. No.: |
55 - 119379 |
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CIN No.: [Company
Identification No.] |
U51496DL2003PTC119379 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELB05770C |
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Legal Form : |
Private limited liability company |
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Line of Business : |
Trading of rubber and Chemicals. |
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 68785 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company having satisfactory track. Trade
relations are fair. Payments are reported as slow but correct. Profit margin
is low. The company can be considered normal for business dealings at usual
trade terms and conditions. |
LOCATIONS
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Registered Office : |
C-47, Mayapuri Industrial Area, Phase – II, New Delhi – 110 064,
India. |
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Tel No: |
91-11-30529004 / 30529005 |
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Fax No: |
91-11-41848401 |
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E-Mail: |
bajajrubberdelhi@gmail.com |
DIRECTORS
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Name : |
Mr. Darshan Lal Bajaj |
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Designation : |
Director |
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Address : |
3/47, Roop Nagar, Delhi – 110 007, India. |
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Date of Birth/Age : |
07.05.1931 |
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Identity Card No : |
N.Y.I |
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Date of Appointment : |
12.03.2003 |
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Name : |
Mr. Anil Kumar Bajaj |
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Designation : |
Director |
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Address : |
3/47, Roop Nagar, Delhi – 110 007, India. |
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Date of Birth/Age : |
23.04.1960 |
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Identity Card No : |
N.Y.I |
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Date of Appointment : |
12.03.2003 |
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Name : |
Mrs. Kamla Rani Bajaj |
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Designation : |
Director |
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Address : |
3/47, Roop Nagar, Delhi – 110 007, India |
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Date of Birth/Age : |
07.09.1937 |
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Identity Card No : |
N.Y.I |
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Date of Appointment : |
25.08.2003 |
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Din No: |
00415779 |
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Name : |
Mr. Sahit Bajaj |
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Designation : |
Director |
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Address : |
3/47, Roop Nagar, Delhi – 110 007, India. |
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Date of Birth/Age : |
03.10.1984 |
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Identity Card No : |
N.Y.I |
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Date of Appointment : |
23.12.2004 |
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Din No: |
00415763 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
AS ON (26.09.2007)
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Names of Shareholders |
No. of Shares |
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Mr. Darshan Lal Bajaj |
95000 |
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Mr. Anil Kumar Bajaj |
60000 |
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Mrs. Kamla Rani Bajaj |
106000 |
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Mrs. Alka Bajaj |
30000 |
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Mr. Sahit Bajaj |
5000 |
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Mr. Anil Kumar Bajaj and Mrs. Alka Bajaj |
106000 |
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Total |
402000 |
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Equity Share
Breakup |
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Percentage of
Holding |
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Category
(31.03.2007) |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Trading of Rubber and Chemicals |
GENERAL
INFORMATION
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No. of Employees : |
Around 20 |
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Bankers : |
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Facilities : |
Particulars |
31.03.2007
(Rs.in Millions) |
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SECURED LOAN: Standard Chartered Bank (against hypothecation of Motor Car) Central Bank of India (Against pledge of fixed depo. Receipts) ICICI Bank Limited (Against hypothecation of Motor Car) |
0.178 0.295 1.540 |
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Total |
2.013 |
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UNSECURED LOAN: From Directors From others |
40.801 11.281 |
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Total |
52.082 |
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Banking
Relations : |
Satisfactory |
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Auditors : |
Jain Vipin and Associates |
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Chartered Accountant |
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Address : |
972/4 (First Floor) Gali Telyan, Tilak Bazar, Delhi – 110 006, India. |
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Pan No: |
AAFPJ6494G |
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Associates/Subsidiaries : |
NIL |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Shares |
Rs. 10/- Each |
Rs.5.000
millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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402000 |
Equity Shares |
Rs. 10/- Each |
Rs.4.020 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 |
4.020 |
4.020 |
4.020 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
9.737 |
6.334 |
4.211 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
13.757 |
10.354 |
8.231 |
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LOAN FUNDS |
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1] Secured Loans |
2.014 |
7.535 |
1.305 |
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2] Unsecured Loans |
52.082 |
47.859 |
28.178 |
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TOTAL BORROWING |
54.096 |
55.394 |
29.483 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
67.853 |
65.748 |
37.714 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
3.716 |
3.921 |
3.679 |
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Capital work-in-progress |
0.000 |
0.000 |
0.398 |
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INVESTMENT |
0.398 |
0.398 |
0.000 |
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DEFERREX TAX ASSETS |
0.064 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
60.181 |
57.093 |
52.797 |
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Sundry Debtors |
199.730 |
154.410 |
155.507 |
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Cash & Bank Balances |
14.210 |
18.492 |
6.583 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
31.157 |
19.450 |
14.377 |
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Total
Current Assets |
305.278
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249.445 |
229.264 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
239.642 |
186.489 |
194.207 |
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Provisions |
1.990 |
1.578 |
1.497 |
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Total
Current Liabilities |
241.632 |
188.067 |
195.704 |
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Net Current Assets |
63.646 |
61.378 |
33.560 |
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MISCELLANEOUS EXPENSES |
0.029 |
0.051 |
0.077 |
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TOTAL |
67.853 |
65.748 |
37.714 |
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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 |
524.601 |
425.057 |
374.590 |
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Other Income |
0.000 |
0.000 |
0.000 |
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Total Income |
524.601 |
425.057 |
374.590 |
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Profit/(Loss) Before Tax |
5.165 |
3.519 |
3.459 |
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Provision for Taxation |
1.895 |
1.482 |
1.448 |
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Profit/(Loss) After Tax |
3.270 |
2.037 |
2.011 |
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Total Expenditure |
519.436 |
421.538 |
371.131 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
0.62
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0.48 |
0.54 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.98
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0.82 |
0.92 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
1.68
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1.40 |
1.50 |
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Return on Investment (ROI) (PBT/Networth) |
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0.37
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0.33 |
0.42 |
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Debt Equity Ratio (Total Liability/Networth) |
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17.56
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18.16 |
23.78 |
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Current Ratio (Current Asset/Current Liability) |
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1.26
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1.32 |
1.17 |
LOCAL AGENCY
FURTHER INFORMATION
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This form is for |
Creation of
charge Modification of
charge |
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Charge
identification number of the modified
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90038324 |
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Corporate identity
number of the company |
U51496DL2003PTC119379 |
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Name of the
company |
BAJAJ RUBBER
COMPANY PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
C-47, Mayapuri Industrial
Area, Phase – II, New Delhi – 110 064, India. |
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Type of charge |
·
Immovable
property ·
Book debts ·
Movable
property (not being pledge) ·
Others |
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Particular of
charge holder |
Central Bank of
India, Connaught Circus, New Delhi – 110 001, India. E-Mail: bmdela0301@centralbank.co.in |
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Nature of
description of the instrument creating or modifying the charge |
Agreements of
hypothecation of stock and book debts, cash margin and counter guarantee. |
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Date of
instrument Creating the charge |
01.02.2007 |
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Amount secured by
the charge |
Rs.30.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest LC Devolved / BG Invoked:
BPLR + 4% Terms of
repayment The credit
facility is sanctioned for a period of 12 months and will be reviewed
thereafter Margin Margin 25% Extent and
operations of the charge Credit facility
will be secured by following collateral security: Equitable mortgage of self
occupied residential house at 3/47, Roop Nagar, New Delhi in the name of
Sh.D.L. Bajaj and Equitable mortgage of commercial property at 8734/37 and
8745/47 Des Bandhu Gupta Road, Paharganj in the name of Anil Kumar Bajaj and
sons (HUF) and Smt. Kamla Rani Bajaj and property at 70, Rama Road Industrial
Area, Delhi of Sh. D.L. Bajaj First charge on
Block Assets of The Company, Stocks and Debtors. |
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.47.94 |
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UK Pound |
1 |
Rs.72.07 |
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Euro |
1 |
Rs.64.70 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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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 |
6 |
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--LEVERAGE |
1~10 |
6 |
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--RESERVES |
1~10 |
6 |
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--CREDIT LINES |
1~10 |
6 |
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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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52 |
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 |
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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 |
|
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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