MIRA
INFORM REPORT
|
Report Date : |
30.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
RAHUL ELECTRONICS PRIVATE LIMITED |
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Registered Office : |
D-2, Kumud Nagar, Near Police Station, Goregaon (West), Mumbai – 400062,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
09.04.1997 |
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Com. Reg. No.: |
11-107150 |
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CIN No.: [Company
Identification No.] |
U32100MH1997PTC107150 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMR11186A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Dealer of brands like Samsung, LG, Onida, Akai etc. |
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 45000 |
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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 well – established and reputed company meeting its local
commitments timeously. Trade relations are fair. Business is active. The company can be considered dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. Rahul Patel |
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Designation : |
Manager of Accounts |
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Date : |
27.06.2008 |
LOCATIONS
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Registered Office : |
D-2, Kumud Nagar, Near Police Station, Goregaon (West), Mumbai –
400062, Maharashtra, India |
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Tel. No.: |
91-22-28724369/ 26786446/ 28723612/ 28778640 |
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Fax No.: |
91-22-28724369 |
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Mobile : |
91-9967161447 |
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E-Mail : |
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Area : |
7000 sq. ft. |
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Location : |
Owned |
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Showrooms : |
All together 16 Shops from Goregaon to Dhalsar on S. V. Road |
DIRECTORS
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Name : |
Mr. Manohar K. Mulchalani |
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Designation : |
Director |
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Address : |
21 Alamona Building , 13th Road, Khar (West), Mumbai –
400052, Maharashtra, India |
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Date of Birth/Age : |
19.11.1962 |
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Qualifications : |
Graduate |
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Date of Appointment : |
09.4.1997 |
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Name : |
Mrs. Bhavna K. Mulchalani |
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Designation : |
Director |
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Address : |
21 Alamona Building , 13th Road, Khar (West), Mumbai –
400052, Maharashtra, India |
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Date of Birth/Age : |
27.06.1965 |
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Qualifications : |
Graduate |
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Date of Appointment : |
09.04.1997 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2004)
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Names of Shareholders |
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No. of Shares |
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Mr. Manohar K. Mulchalani |
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860 |
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Mrs. Bhavna K. Mulchalani |
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90 |
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Mr. Devibai K. Mulchalani |
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10 |
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Mr. Kishinchank K. Mulchalani |
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10 |
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Mr. Avantiben K. Mulchalani |
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10 |
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Mr. Rupa A. Khiskani |
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10 |
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Total |
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990 |
(As on 31.03.2007)
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Dealer of brands like Samsung, LG, Onida, Akai etc. |
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Terms : |
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Selling : |
Credit (10-15 days) |
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Purchasing : |
Cash |
GENERAL INFORMATION
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Customers : |
Retailers |
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No. of Employees : |
35 |
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Bankers : |
Oshiwara Branch, Saraf Kaskar Industrial Estate, Corner, Of S. V. Road
and Oshiwara Road, Jogeshwari (West), Mumbai – 4001023, Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Agarwal and Chhajed Chartered Accountant |
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Address : |
1307, Navjivan Commercial Premises, Lamington Road, Mumbai – 400008,
Maharashtra, India |
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Associates/Subsidiaries : |
Rahul Appliances |
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 |
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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 |
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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 |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
2.922 |
2.922 |
0.000 |
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3] Reserves & Surplus |
5.908 |
5.406 |
5.222 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
8.930 |
8.428 |
5.322 |
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LOAN FUNDS |
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1] Secured Loans |
36.565 |
12.316 |
7.369 |
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2] Unsecured Loans |
8.758 |
8.730 |
11.434 |
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TOTAL BORROWING |
45.323 |
21.046 |
18.803 |
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DEFERRED TAX LIABILITIES |
0.318 |
0.311 |
0.355 |
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TOTAL |
54.571 |
29.785 |
24.480 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
34.942 |
5.752 |
6.164 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.005 |
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DEFERREX TAX ASSETS |
0.006 |
0.002 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
21.677
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18.456 |
10.124 |
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Sundry Debtors |
1.259
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2.147 |
13.168 |
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Cash & Bank Balances |
11.726
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10.842 |
6.855 |
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Other Current Assets |
3.316
|
4.935 |
2.825 |
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Loans & Advances |
0.000
|
0.000 |
0.000 |
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Total
Current Assets |
37.978
|
36.380 |
32.972 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
18.355
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12.354 |
14.664 |
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Provisions |
0.000
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0.000 |
0.000 |
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Total
Current Liabilities |
18.355
|
12.354 |
14.664 |
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Net Current Assets |
19.623
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24.026 |
18.308 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.003 |
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TOTAL |
54.571 |
29.780 |
24.480 |
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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 |
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73.106 |
76.803 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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73.106 |
76.803 |
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Profit/(Loss) Before Tax |
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0.577 |
0.300 |
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Provision for Taxation |
|
0.000 |
0.000 |
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Profit/(Loss) After Tax |
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0.577 |
0.300 |
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Expenditures : |
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Interests |
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1.540 |
2.097 |
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Depreciation & Amortization |
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0.795 |
0.497 |
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Other Expenditure |
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70.194 |
73.909 |
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Total Expenditure |
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72.529 |
76.503 |
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Sales Turnover (Group) (2007-08): Rs.250.000 Millions
Expected Sales (2008-09): Rs.400.000 Millions
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 |
(%) |
0.79
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0.39 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
0.79
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0.39 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.79
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0.71 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.06
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0.03 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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7.13
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3.96 |
6.29 |
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Current Ratio (Current Asset/Current Liability) |
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2.07
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2.94 |
2.25 |
LOCAL AGENCY
FURTHER INFORMATION
Trade Reference:
- Snehanjali
Electronics
- Rahi
Electronics
Form 8:
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Corporate
identity number of the company |
U32100MH1997PTC107150 |
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Name of the
company |
RAHUL ELECTRONICS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
D-2, Kumud Nagar, Near Police Station, Goregaon (West), Mumbai – 400062,
Maharashtra, India |
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This form is for |
Modification of Charge |
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Type of charge |
Immovable
Property |
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Particular of
charge holder |
Oshiwara Branch, Saraf Kaskar Industrial Estate, Corner, Of S. V. Road
and Oshiwara Road, Jogeshwari (West), Mumbai – 4001023, Maharashtra, India |
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Nature of
instrument creating charge |
Extension of
Memorandum of Entry |
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Date of instrument
Creating the charge |
16.01.2007 |
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Amount secured by
the charge |
Rs.35.600
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of
Interests: Interests as
determined by the Bank from Time to time Term of
Repayment: On Demand Margin: As per Sanction
Terms Extent and
Operation of the Charge: The property as
stated in column 14 below has been mortgaged to the Bank by the company as
security for the due repayment and discharge to the Bank of Liability under
total cash credit Hypothecation stock and Book Debts limits of Rs.15.000
Millions and Term Loans of Rs.20.600 Millions aggregating to Rs.35.600 Millions granted/ advanced to Mr.
Manohar K. Mulchandani, Director of Rahul Electronics Private Limited
together with interests additional interests, compound interests, costs,
charge, expenses and other monies. |
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Particulars of
the property charged |
Ownership Basis
Shop No.3/4/5/6/ and 7 Matru Ashish, Dahisar (East), Mumbai – 400068 Unit No.5-C, Admg.
1242 Sq. ft. carpet area at singh industrial premises co-op society limited,
Ram Mandir Road, Goregaon (East), Mumbai Flat No.D-4,
Building No.D, Plot No. D At Kumudnagar Co-op Housing Society Limited S. V.
Road, Goregaon (West), Mumbai Ground Floor+
First at Deshmukh Park, Goregaon (West), Mumbai. |
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Particulars of
the present modification |
Mortgage has been
created/ further extended in favour of the Bank in respect of the company’s
immovable properties described in column 14 above as security for the due
repayment and discharge to the Bank of Liability under total cash credit
Hypothecation stock and Book Debts limits of Rs.15.000 Millions and Term
Loans of Rs.20.600 Millions
aggregating to Rs.35.600 Millions granted/ advanced to Mr. Manohar K.
Mulchandani, Director of Rahul Electronics Private Limited together with
interests and other monies payable thereon. |
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.42.79 |
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UK Pound |
1 |
Rs.85.04 |
|
Euro |
1 |
Rs.67.34 |
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 |
5 |
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--LEVERAGE |
1~10 |
5 |
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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 |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
45 |
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 |
|
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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