MIRA
INFORM REPORT
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Report Date : |
18.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
AROSON PLASTICS PRIVATE LIMITED |
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Registered Office : |
B – 90, Mayapuri Industrial Area, Phase I, New Delhi 110064 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
22.12.2005 |
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Com. Reg. No.: |
55-143964 |
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CIN No.: [Company
Identification No.] |
U25209DL2005PTC143964 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELA17678D |
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PAN No.: [Permanent
Account No.] |
AAFCA5152R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Switch Parts, Filament Lamps Parts, Refrigerator
Parts, etc. |
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 14000 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a 2 years old company and in the process of establishing
itself. Scale of activity is
limited. Trade relations are
fair. Payments are reported as slow
but correct. The company can be considered for small to mediocre business dealings at usual trade terms and conditions. |
LOCATIONS
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Registered Office/Factory : |
B – 90, Mayapuri Industrial Area, Phase I, New Delhi 110064, India |
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Tel. No.: |
91-11-45595099 / 28116777 / 78 / 41833661 / 62 |
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Fax No.: |
91-11-45501100 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Amrik Singh |
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Designation : |
Director |
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Address : |
F-148, Mansarover Garden, New Delhi 110015, India |
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Mobile No. : |
91-9891699999 |
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Date of Birth/Age : |
05.04.1963 |
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Date of Appointment : |
22.12.2005 |
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Name : |
Mr. Rajwant Kaur |
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Designation : |
Director |
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Address : |
F-148, Mansarover Garden, New Delhi 110015, India |
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Date of Birth/Age : |
15.11.1968 |
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Date of Appointment : |
22.12.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Amrik Singh |
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27500 |
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Rajwant Kaur |
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22470 |
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Triochan Singh |
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490 |
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Others |
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340 |
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Total |
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50800 |
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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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98.38 |
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Other top fifty shareholders |
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1.62 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Switch Parts, Filament Lamps Parts, Refrigerator
Parts, etc. |
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Products : |
Ø Moulds and Dies Ø Injected Moulded
Components Ø CFL Parts Ø Cap and Covers Ø Double Colour
Keytop Sets Ø Safety Belts
Latch Sets Ø T5 Fittings,
etc. |
GENERAL
INFORMATION
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Suppliers : |
Ø Arjan Industries Ø Electronica
Machine Tools Limited Ø Lancer Tools
Private Limited Ø Saru Concast
Alloys Private Limited |
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Customers : |
Ø Angelo Brothers
Company India Limited Ø Delta
Electronics Ø Havell’s India
Limited Ø Mindarika
Private Limited Ø Phoenix Lamps
India Limited Ø Videocon
Industries Limited Ø Pi-Tech
International |
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No. of Employees : |
150 |
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Bankers : |
Ø HDFC Bank
Limited Ø State Bank of
India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Sunder Lal Bansal Chartered Accountants |
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Address : |
18/1512, Shiv Ashram, S. P. Mukherjee Marg, Delhi 110006, India |
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Memberships : |
All India Plastics Manufacturers Association |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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200000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.000 Millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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50800 |
Equity Shares |
Rs. 10/-
each |
Rs. 0.508
Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.508 |
0.100 |
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2] Share Application Money |
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3.175 |
0.038 |
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3] Reserves & Surplus |
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0.014 |
0.000 |
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4] (Accumulated Losses) |
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0.000 |
[0.036] |
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NETWORTH |
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3.697 |
0.102 |
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LOAN FUNDS |
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1] Secured Loans |
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8.690 |
0.000 |
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2] Unsecured Loans |
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12.415 |
0.000 |
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TOTAL BORROWING |
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21.105 |
0.000 |
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DEFERRED TAX LIABILITIES |
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0.383 |
0.000 |
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TOTAL |
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25.185 |
0.102 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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13.111 |
0.128 |
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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 |
0.014 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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4.943 |
0.004 |
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Sundry Debtors |
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7.944 |
0.000 |
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Cash & Bank Balances |
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0.369 |
0.084 |
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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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1.934 |
0.010 |
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Total
Current Assets |
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15.190 |
0.098 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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3.042 |
0.187 |
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Provisions |
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0.109 |
0.000 |
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Total
Current Liabilities |
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3.151 |
0.187 |
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Net Current Assets |
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12.039 |
[0.089] |
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MISCELLANEOUS EXPENSES |
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0.035 |
0.049 |
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TOTAL |
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25.185 |
0.102 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Sales Turnover and Other Income
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36.610 |
0.003 |
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Total Income |
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36.610 |
0.003 |
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Profit/(Loss) Before Tax |
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0.557 |
[0.051] |
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Provision for Taxation |
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0.505 |
0.088 |
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Profit/(Loss) After Tax |
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0.052 |
[0.037] |
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Total Imports |
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9.592 |
NA |
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Total Expenditure |
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36.053 |
0.054 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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1.52 |
1700.00 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.14 |
1233.33 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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1.96 |
22.56 |
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Return on Investment (ROI) (PBT/Networth) |
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0.15 |
0.50 |
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Debt Equity Ratio (Total Liability/Networth) |
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6.56 |
1.83 |
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Current Ratio (Current Asset/Current Liability) |
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4.82 |
0.52 |
LOCAL AGENCY
FURTHER INFORMATION
Form 8
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This Form is for |
Creation of charge |
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Charge
identification number of the charge to be modified |
NA |
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Corporate
identity number of the company |
U25209DL2005PTC143964 |
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Name of the
company |
AROSON PLASTICS
PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
B – 90, Mayapuri Industrial Area, Phase I, New Delhi 110064, India |
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Type of charge |
Ø
Book Debts Ø
Movable
Property |
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Particular of
charge holder |
HDFC Bank Limited HDFC Bank House,
Senapati Bapat Marg, Lower Parel [West], Mumbai 400013, Maharashtra, India |
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Nature of
description of the instrument creating or modifying the charge |
Letter of hypothecation
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Date of
instrument Creating the charge |
15.09.2006 |
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Amount secured by
the charge |
Rs. 5.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
[a] Rate of
interest The bank is entitled
to charge interest at such rate as may be determined by the bank from time to
time. [b] Term of
repayment on demand and/or
as per terms and conditioned as determined by the bank [c] Margin Margin as
determined by the bank from time to time [d] Extent and
operation of the charge The charge to
operate as a continuing security for the balance due to the bank |
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Short particulars
of the property charged |
Hypothecation by
way of first charge on all the stock in trade both present and future consisting
of raw materials, finished goods, goods in process of manufacturing and other
merchandise, fixed assets and whatsoever being movable properties and all the
Book Debts, Outstanding monies receivables, claims and bills. |
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Date of latest
modification prior to the present modification |
NA |
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Particulars of
the present modification |
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 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
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Indian Rupees |
|
US Dollar |
1 |
Rs. 39.66 |
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UK Pound |
1 |
Rs. 78.16 |
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Euro |
1 |
Rs. 58.09 |
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 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
2 |
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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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31 |
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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