MIRA
INFORM REPORT
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Report Date : |
06.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
HPS AIR SYSTEMS |
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Registered Office : |
107, Vikas Surya, Janak Plaza, C-6B Janak Puri, New Delhi – 110 058 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
April, 2005 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Authorised Distributor of Carrier Air conditioning and Refrigeration Supply and Installation of Centralized Air Conditioning System. |
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 6000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established and reputed carrier dealers. Trade
relations are fair. Business is active. Payments are reported as usually
correct and as per commitments. The concern can be considered normal for business dealings at usual trade
terms and conditions. Input for this report was parted by Mr. Sachin Mallik, Proprietor of
the concern. |
LOCATIONS
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Registered Office : |
107, Vikas Surya, Janak Plaza, C-6B Janak Puri, New Delhi – 110 058, India |
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Tel. No.: |
91-11-32589360 / 26490720 / 721 |
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Fax No.: |
91-11-25526329 / 26490722 |
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Mobile No. : |
91-9891667700 |
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E-Mail : |
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Website : |
http://www.hpairsystems.com (under construction) |
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Area : |
450 sq. fts. |
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Location : |
Owned |
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Branches 1 : |
191, Sector 15, Part II, Gurgaon – 122001,
Haryana, India |
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Area : |
400 sq.fts |
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Location : |
Owned |
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Branches 2 : |
38 A /1, Shahpur Jat, Near Asian Games Village, New Delhi – 110 049,
India |
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Area : |
900 sq.fts (approximately) |
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Location : |
Rented |
SOLE PROPRIETOR
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Name : |
Mr. Sachin Malik |
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Designation : |
Sole Proprietor |
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Address : |
C-3A/139C, Janak Puri, New Delhi – 110 058, India |
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Date of Birth/Age : |
35 years |
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Qualification : |
BE (Industrial Engineering) |
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Experience : |
13 years |
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Mobile No. : |
91-9891667700 |
BUSINESS DETAILS
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Line of Business : |
Authorised Distributor of Carrier Air conditioning and Refrigeration Supply and Installation of Centralized Air Conditioning System. |
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Products : |
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Terms : |
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Selling : |
Credit ( 60-90 days ) |
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Purchasing : |
Cash, Credit (30 - 45 days) |
GENERAL
INFORMATION
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Customers : |
· M/s Ansal Properties and Infrastructure Limited Mr. T H Teckchandani – Vice President (Services) Mobile No: 91-9871794498 · M/s Havell’s India Limited Mr. G K Kwatra – Vice president (Projects) Mobile No: 91-9811316450 · M/s Omaxe Limited Mr. Mukesh Puri – Deputy General Manager (Services) Mobile No. 91-9891831429 · DLF Limited Mr. Arvind Taneja – Vice President (Projects) Mobile No: 91-9811316450 |
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No. of Employees : |
Around 15 |
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Bankers : |
· Axis Bank C-3, Janak Puri Branch, New Delhi – 110 058, India · HSBC Bank Address: Barakhamba Road, New Delhi – 110 001, India ·
Union Bank of India Address: Janakpuri Branch |
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Facilities: |
O/D – Rs. 0.600 million from HSBC Bank |
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Banking Relations
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Satisfactory |
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Auditors : |
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Name: |
G D R and Associates Chartered Accountants |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
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Capital Investment : |
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Owned : |
Rs. 1.007 millions |
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Borrowed : |
--- |
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Total : |
Rs. 1.007 millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Capital Account |
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1.007 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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1.007 |
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LOAN FUNDS |
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1] Secured Loans |
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2.473 |
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2] Unsecured Loans |
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0.000 |
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TOTAL BORROWING |
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2.473 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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3.480 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.800 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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2.846 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
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Sundry Debtors |
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1.193 |
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Cash & Bank Balances |
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0.089 |
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Other Current Assets |
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0.664 |
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Loans & Advances |
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0.350 |
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Total
Current Assets |
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2.296 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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Provisions |
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Total
Current Liabilities |
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2.462 |
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Net Current Assets |
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[0.166] |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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3.480 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
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Sales Turnover |
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4.014 |
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Other Income |
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7.941 |
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Total Income |
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11.955 |
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Profit/(Loss) Before Tax |
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1.944 |
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Provision for Taxation |
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0.000 |
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Profit/(Loss) After Tax |
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1.944 |
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Expenditures : |
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Salaries, Wages, Bonus, etc. |
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0.702 |
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Interest |
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0.028 |
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Insurance Expenses |
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0.005 |
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Depreciation & Amortization |
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0.176 |
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Other Expenditure |
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9.098 |
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Total Expenditure |
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10.009 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
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PAT / Total Income |
(%) |
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16.26 |
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Net Profit Margin (PBT/Sales) |
(%) |
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48.43 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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62.79 |
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Return on Investment (ROI) (PBT/Networth) |
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1.93 |
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Debt Equity Ratio (Total Liability/Networth) |
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4.90 |
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Current Ratio (Current Asset/Current Liability) |
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0.93 |
LOCAL AGENCY
FURTHER INFORMATION
Nil
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 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.39.60 |
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UK Pound |
1 |
Rs.77.85 |
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Euro |
1 |
Rs.58.04 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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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 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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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47 |
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/normal. |
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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