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MIRA
INFORM REPORT
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Report Date : |
22.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
YASH LAXMI INTERNATIONAL PRIVATE LIMITED |
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Registered Office : |
9/3, Varma Nagar, Azad Road, Behind Chinai College, Andheri East, Mumbai-400
069, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
16.07.1996 |
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Com. Reg. No.: |
101113 |
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CIN No.: [Company
Identification No.] |
U51909MH1996PTC101113 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMY01039D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Export of Agricultural and Industrial Products in global market and setup
units in India for those Exports and Carryon liaison activities in India and
Abroad. |
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 672 |
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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 relatively small company. Scale of operation is limited.
Trade relations are fair. Business is active. Payments are reported as slow
but correct. The company can be considered for small to mediocre business dealings
with slight caution, initially. |
LOCATIONS
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Registered Office : |
9/3, Varma Nagar, Azad Road, Andheri (East), Mumbai – 400 069,
Maharashtra, India |
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Tel. No.: |
91-22-26838923 |
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Fax No.: |
91-22-26832267 |
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E-Mail : |
DIRECTORS
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Name : |
Mrs. Shilpa Chetan Trivedi |
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Designation : |
Director |
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Address : |
8/24, Varma Nagar, Azad Road, Andheri (East), Mumbai-400 069, Maharashtra |
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Date of Birth/Age : |
09.08.1971 |
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Date of Appointment : |
16.07.1996 |
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Name : |
Mr. Ramanlal Lalshankar Trivedi |
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Designation : |
Director |
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Address : |
8/24, Varma Nagar, Azad Road, Andheri (East), Mumbai-400 069,
Maharashtra |
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Date of Birth/Age : |
11.03.1936 |
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Date of Appointment : |
16.07.1996 |
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Name : |
Mr. Chetan Ramanlal Trivedi |
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Designation : |
Director |
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Address : |
8/24, Varma Nagar, Azad Road, Andheri (East), Mumbai-400 069,
Maharashtra |
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Date of Birth/Age : |
01.08.1961 |
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Date of Appointment : |
16.07.1996 |
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Name : |
Mr. Alkesh Champaklal Jagad |
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Designation : |
Director |
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Address : |
7, Brahmaxatrya, Bhuvan Dutt Mandir Road, Kandivli (West), Mumbai-400
067, Maharashtra |
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Date of Birth/Age : |
11.11.1973 |
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Date of Appointment : |
29.10.2004 |
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Name : |
Mr. Nilesh Khushalchand Doshi |
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Designation : |
Director |
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Address : |
6, Maheshwar Niwas, 44-45 Tilak Road, Santacruz (West), Mumbai-400
054, Maharashtra |
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Date of Birth/Age : |
27.04.1956 |
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Date of Appointment : |
03.11.2004 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Mrs. Shilpa C. Trivedi |
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10 |
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Mr. Ramanlal L Trivedi |
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10 |
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Mr. Chetan R Trivedi |
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10 |
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Equity Share
Breakup(percentage of total equity) |
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Directors or relatives of directors |
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97.75 |
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Others |
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2.25 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Export of Agricultural and Industrial Products in global market and
setup units in India for those Exports and Carryon liaison activities in
India and Abroad. |
GENERAL
INFORMATION
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Bankers : |
The Lakshmi Vilas Bank Limited ‘Swapna Sadan’, Azad Road, Andheri (East), Mumbai-400 069, Maharashtra E-Mail: yardiprabhu@vsnl.net |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
B K Oza and Associates Chartered Accountants |
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Address : |
603, Dheeraj Vihar, N N Road No. 1, Jogeshwari (East), Mumbai-400 060,
Maharashtra |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/-Each |
Rs.5.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
13330 |
Equity Shares |
Rs.10/-Each |
Rs.0.133
Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.133 |
0.133 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.035 |
0.440 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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0.168 |
0.573 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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3.307 |
2.206 |
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TOTAL BORROWING |
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3.307 |
2.206 |
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DEFERRED TAX LIABILITIES |
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0.007 |
0.009 |
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TOTAL |
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3.482 |
2.788 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.050 |
0.066 |
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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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0.006 |
0.000 |
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DEFERREX TAX ASSETS |
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0.184 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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3.096 |
1.985 |
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Sundry Debtors |
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0.663 |
3.774 |
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Cash & Bank Balances |
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0.597 |
1.025 |
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Other Current Assets |
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0.231 |
0.000 |
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Loans & Advances |
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0.182 |
0.123 |
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Total
Current Assets |
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4.769 |
6.907 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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1.456 |
4.069 |
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Provisions |
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0.071 |
0.120 |
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Total
Current Liabilities |
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1.527 |
4.189 |
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Net Current Assets |
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3.242 |
2.718 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.004 |
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TOTAL |
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3.482 |
2.788 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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Sales Turnover |
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12.068 |
6.405 |
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Total Income |
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12.068 |
6.405 |
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Profit/(Loss) Before Tax |
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[0.557] |
0.058 |
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Provision for Taxation |
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---- |
---- |
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Profit/(Loss) After Tax |
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[0.557] |
0.058 |
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Expenditures : |
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Interest |
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0.275 |
0.082 |
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Depreciation & Amortization |
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0.020 |
0.021 |
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Other Expenditure |
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12.330 |
6.244 |
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Total Expenditure |
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12.625 |
6.347 |
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KEY RATIOS
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PARTICULARS |
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31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
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[4.61] |
0.90 |
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Net Profit Margin (PBT/Sales) |
(%) |
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[4.61] |
0.90 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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[11.55] |
0.83 |
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Return on Investment (ROI) (PBT/Networth) |
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[3.31] |
0.10 |
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Debt Equity Ratio (Total Liability/Networth) |
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9.08 |
7.31 |
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Current Ratio (Current Asset/Current Liability) |
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2.22 |
0.66 |
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 |
- |
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Corporate
identity number of the company |
U51909MH1996PTC101113 |
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Name of the
company |
YASH LAXMI
INTERNATIONAL PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
9/3, Varma Nagar,
Azad Road, Behind Chinai College, Andheri (East), Mumbai-400 069,
Maharashtra, India |
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Type of charge |
v
Immovable
Property |
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Particular of
charge holder |
The Lakshmi Vilas
Bank Limited ‘Swapna Sadan’,
Azad Road, Andheri (East), Mumbai-400 069, Maharashtra E-Mail : yardiprabhu@vsnl.net |
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Nature of
description of the instrument creating or modifying the charge |
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Date of
instrument Creating the charge |
14.12.2006 |
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Amount secured by
the charge |
Rs.3.000 Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest - Interest @1.50%
Below BPLR Effective Interest 11.50% at present Terms of
repayment -Limits Valid Up
to 18.09.2007 Margin -Margin 50% Extent operation
of the charge - As per
memorandum of entry for creation of equitable mortgage. |
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Short particulars
of the property charged |
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Date of latest
modification prior to the present modification |
- |
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Particulars of
the present modification |
- |
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.39.38 |
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UK Pound |
1 |
Rs.76.90 |
|
Euro |
1 |
Rs.57.27 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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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 |
YES |
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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 |
|
24 |
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 |
|
|
>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 |
|
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 |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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