MIRA
INFORM REPORT
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Report Date : |
01.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
HUTCHISON MAX PAGING PRIVATE LIMITED |
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Registered Office : |
Hutch House, Peninsula Corporate Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai –400013 |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
15.07.1999 |
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Com. Reg. No.: |
11-120818 |
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CIN No.: [Company
Identification No.] |
U32202MH1999PTC120818 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
To carry on the business as service providers, manufacturers, producers, processors, makers, fabricators, importers, exporters, traders, buyers, sellers, distributors, wholesalers, agents, sub-agents, merchants or otherwise dealers in all types of communication equipments, components, devices and appliances such as pagers, mobiles and any type of equipments and apparatus. |
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 64000 |
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Status : |
Small Company / Capital Base |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a small importer and trader of handsets. Capital base is small. Trade relations are fair. No payment experiences are known. Your proposed business dealing of GBP 2390000 can be considered on safe and secured trade terms and conditions, only. |
LOCATIONS
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Registered Office : |
Hutch House, Peninsula Corporate Park, Ganpatrao Kadam Marg, Lower Parel, Mumbai –400013, India |
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Tel. No.: |
91 - 22 – 56645000 |
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Fax No.: |
91 - 22 – 24963645/ 56661246 |
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E-Mail : |
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Website : |
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Head Office : |
Dew Centre, Stanrose House, New Prabhadevi, Mumbai - 400 025, Maharashtra, INDIA. |
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Tel. No.: |
91 - 22 – 24314000, 2464 1111 |
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Fax No.: |
91 - 22 – 24314636, 24321246, 24313456 |
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E-Mail : |
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Website : |
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Area : |
400 Sq. Fts. |
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Location : |
Leased |
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Administrative
Office : |
A R A Law Agra Buildings, 1st Floor, 121, M. G. Road, Fort, Mumbai - 400 023, Maharashtra, India |
DIRECTORS
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Name : |
Mr Sandeep Das |
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Designation : |
Director |
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Address : |
1 A, Windmere,
Plot Number 33-762, Cuffe parade,
Mumbai - 400 005, Maharashtra. |
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Date of Birth/Age : |
11.01.1958 |
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Date of Appointment : |
04.06.2001 |
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Date of Ceasing : |
10.12.2004 |
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Name : |
Mr. Sunil Ranka |
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Designation : |
Director |
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Address : |
B /103 Mary Villa,
Gajanand Colony Road, Jawahar Nagar, Goregaon (West), Mumbai - 400 062,
Maharashtra. |
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Date of Birth/Age : |
25.06.1962 |
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Date of Appointment : |
04.06.2001 |
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Name : |
Mr.Christopher John Poll (Australian) |
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Designation : |
Director |
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Address : |
Lincon Lodge,
Main Bungalow, Ahamount Road, Mumbai – 400 026, Maharashtra, India |
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Date of Birth/Age : |
16.08.1956 |
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Date of Appointment : |
04.06.2001 |
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Date of ceasing : |
22.10.2001 |
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Date of resigned : |
22.10.2001 |
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Name : |
Mr. Harit A. Nagpal |
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Designation : |
Director |
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Address : |
Flat No. 1101, 11th Floor, Sterling Sea Face, Dr. A. B. Road, Mumbai- 400 018, Maharashtra |
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Date of Birth/Age : |
02.11.1961 |
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Date of Appointment : |
10.12.2004 |
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Name : |
Sambasivan Ganesan. |
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Designation : |
Director |
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Address : |
F. No. 11, 6th Floor, Subhadra Co-operative Housing Society
Limited, N. S. Road, JVPD Scheme, Mumbai 400049, Maharashtra, India |
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Date of Birth/Age : |
28.04.1967 |
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Date of Appointment : |
09.06.2006 |
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Name : |
Mr. L. Krishna Kumar |
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Designation : |
Director |
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Address : |
No. 6, North Crescent Road, T. Nagar, Chennai 600017, Tamilnadu, India
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MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mr. Sandip S. Das |
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5000 |
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Mr. Sunil R. Ranka |
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5000 |
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Equity Share
Break-up |
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Percentage of
Holding |
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Directors or relatives of the Directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
To carry on the business as service providers, manufacturers, producers, processors, makers, fabricators, importers, exporters, traders, buyers, sellers, distributors, wholesalers, agents, sub-agents, merchants or otherwise dealers in all types of communication equipments, components, devices and appliances such as pagers, mobiles and any type of equipments and apparatus. |
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Products : |
Ř Cellular Phones Ř Accessories |
GENERAL
INFORMATION
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No. of Employees : |
10 |
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Bankers : |
Not Available |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
Natraj Ramkrishna Chartered Accountants |
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Address : |
262, Veer Savarkar Marg, Shivaji Park, Dadar [West], Mumbai 400028,
Maharashtra, India |
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Associates/Subsidiaries : |
Hutchison Max Telecom Limited. |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs. 10/-
each |
Rs. 0.100
Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
16.142 |
14.503 |
4.780 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
16.242 |
14.603 |
4.880 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
16.242 |
14.603 |
4.880 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.000 |
0.000 |
0.000 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.024 |
0.024 |
0.000 |
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DEFERREX TAX ASSETS |
0.978 |
0.809 |
0.558 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
231.414
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37.910 |
12.325 |
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Sundry Debtors |
62.265
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3.584 |
0.376 |
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Cash & Bank Balances |
71.391
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5.973 |
7.341 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
28.454
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8.772 |
4.347 |
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Total
Current Assets |
393.524
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56.239 |
24.389 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
364.517
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30.301 |
20.068 |
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Provisions |
13.767
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12.168 |
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Total
Current Liabilities |
378.284
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42.469 |
20.068 |
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Net Current Assets |
15.240
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13.770 |
4.321 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.001 |
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TOTAL |
16.242 |
14.603 |
4.880 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
Sales Turnover [including other
income]
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847.258 |
128.632 |
60.589 |
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Profit/(Loss) Before Tax
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3.069 |
19.469 |
2.621 |
Provision for Taxation
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-- |
-- |
1.121 |
Profit/(Loss) After Tax
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3.069 |
19.469 |
1.500 |
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Total Expenditure
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844.189 |
109.163 |
52.968 |
KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
31.03.2004 |
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PAT / Total Income |
(%) |
0.36
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15.13 |
2.47
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Net Profit Margin (PBT/Sales) |
(%) |
0.36
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15.13 |
4.32
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.77
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34.61 |
10.50
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Return on Investment (ROI) (PBT/Networth) |
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0.18
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1.33 |
0.53
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Debt Equity Ratio (Total Liability/Networth) |
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23.29
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2.90 |
5.11
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Current Ratio (Current Asset/Current Liability) |
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1.04
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1.32 |
1.21
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LOCAL AGENCY
FURTHER INFORMATION
NA
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. 39.39 |
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UK Pound |
1 |
Rs. 78.40 |
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Euro |
1 |
Rs. 58.73 |
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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