MIRA
INFORM REPORT
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Report Date : |
04.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
ALPEX EXPORTS PRIVATE LIMITED |
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Registered Office : |
B-79 Shivalik Enclave Near Malviya Nagar, New Delhi – 110017 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
27.08.1993 |
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Com. Reg. No.: |
53-171352 |
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CIN No.: [Company
Identification No.] |
U51909DL1993PTC171352 |
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PAN No.: [Permanent
Account No.] |
AABCA0842N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Traders of Textile and Yarn |
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 330000 |
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Status : |
Good |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well established company, engaged in trading of textiles
and yarns. Trade relations are fair. Financial position is satisfactory.
Payments are reported as correct and as per commitments. Nothing adverse reported. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Rakesh Lamba |
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Designation : |
Manager |
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Contact No.: |
91-9811805675 |
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Date : |
02.07.2008 |
LOCATIONS
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Registered Office : |
B-79 Shivalik Enclave Near Malviya Nagar, New Delhi – 110017, India |
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Tel. No.: |
91-11-26692135/ 2041/ 2132 |
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Mobile No.: |
91-9811805675 |
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Fax No.: |
91-11-26692642 |
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E-Mail : |
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Website : |
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Area : |
300 sq. ft. |
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Location : |
Owned |
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Corporate Office 1: |
A-254, Shivalik, Near Malvyia Nagar, New Delhi – 110017, India |
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Tel. No.: |
91-11-26680766/ 26689784 |
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Fax No.: |
91-11-26689785/ 26534728 |
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Corporate Office 2: |
127-B, Shivalik, Near Malvyia Nagar, New Delhi – 110017, India |
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Tel. No.: |
91-11-6465399 |
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Fax No.: |
91-11-6469122 |
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Corporate Office 3: |
155, Sector 16 A, Chandigarh – 160016, India |
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Branch Office 1 : |
Flat No.602, 6th Floor, Plot No.39/4 Society 308, Vashi,
Mumbai, Maharashtra, India |
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Area : |
300 sq. ft. |
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Location : |
Owned |
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Branch Office 2 : |
52/32, C K PN Colony Trupura, India |
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Area : |
300 sq. ft. |
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Location : |
Owned |
DIRECTORS
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Name : |
Mr. Ashwini Sehgal |
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Designation : |
Director |
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Address : |
B-3, Geetanjali, Enclave, 3rd Floor, Near Malviya Nagar,
New Delhi, India |
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Date of Birth/Age : |
17.07.1965 |
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Qualifications : |
B. Mechanical |
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Date of Appointment : |
27.08.1993 |
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Name : |
Mrs. Monika Sehgal |
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Designation : |
Director |
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Address : |
B-3, Geetanjali, Enclave, 3rd Floor, Near Malviya Nagar,
New Delhi, India |
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Date of Birth/Age : |
06.05.1968 |
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Qualifications : |
M. Sc. |
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Date of Appointment : |
27.08.1993 |
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Name : |
Mr. Vipin Sehgal |
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Designation : |
Director |
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Address : |
3050, Gurudev Nagar, Ludhiana, India |
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Date of Birth/Age : |
15.03.1971 |
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Qualifications : |
B. E. |
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Date of Appointment : |
02.04.2002 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2003)
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Names of Shareholders |
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No. of Shares |
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Mr. Ashwini Sehgal |
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59440 |
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Mrs. Monica Sehgal |
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68940 |
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Mrs. Kanta Sehgal |
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39170 |
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Ms. Kalesh Verma |
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8000 |
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Mr. Kulbhushan Verma |
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40000 |
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Mr. Vipin Sehgal |
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10950 |
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Mr. B. C. Sikka |
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26810 |
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Mrs. Anita Sikka |
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9270 |
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Scan International Private Limited |
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13500 |
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Udaya Fibres Private Limited |
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12500 |
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Mrs. Madhu Bedi |
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1800 |
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Mrs. Suman Mahajan |
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2500 |
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Mr. Vikram Sector |
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2000 |
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Mr. Punnet Rawal |
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2500 |
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Mr. Jagdish |
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2400 |
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Mr. R P S Sarna |
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5000 |
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Mr. Dinesh Mahajan |
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5500 |
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Mrs. Sona Rawal |
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1000 |
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Mrs. Devhuti Chauhan |
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1500 |
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Mr. Rakesh Lamba |
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1800 |
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Mr. Ajay Kumar |
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900 |
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Ms. Udaya Sehgal |
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2500 |
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Ms. Aditya Sehgal |
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2500 |
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Mrs. Ashwini Sehgal |
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8300 |
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Priya Financial Services Private Limited |
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18000 |
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Leafin Financial Private Limited |
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3000 |
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Roma Impex Private Limited |
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4000 |
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Ashish Impex Private Limited |
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10000 |
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Total |
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363780 |
(As on 31.03.2007)
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Category |
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Percentage |
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Bodies Corporate (Not mentioned above) |
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12.00 |
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Directors or relatives of directors) |
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88.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Traders of Textile and Yarn |
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Imports : |
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Products : |
Textile Yarn |
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Countries : |
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Terms : |
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Purchasing : |
L/C (Rs.75.000 Millions) DP |
GENERAL
INFORMATION
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Customers : |
OEM’s |
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No. of Employees : |
40 |
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Bankers : |
Dr. Gopal Das Bhawan, 28 Barakhamba Road, New Delhi – 110001, India
Conn. Circus, New Delhi, India |
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Facilities : |
CC Limit Rs.10.000 Millions |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Sanjeev Bhargava and Company Chartered Accountant |
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Address : |
202 Anarkali Complexes, Jhadewalan Extn. New Delhi – 110055, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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1119700 |
Equity Shares |
Rs.10/- each |
Rs.11.197
Millions |
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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 |
11.197 |
10.056 |
7.276 |
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2] Share Application Money |
0.000 |
0.000 |
1.400 |
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3] Reserves & Surplus |
55.533 |
31.438 |
18.872 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
66.730 |
41.494 |
27.548 |
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LOAN FUNDS |
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1] Secured Loans |
56.452 |
27.676 |
30.817 |
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2] Unsecured Loans |
7.240 |
0.000 |
0.000 |
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TOTAL BORROWING |
63.692 |
27.676 |
30.817 |
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DEFERRED TAX LIABILITIES |
14.855 |
6.972 |
0.000 |
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TOTAL |
145.277 |
76.142 |
58.365 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
66.543 |
40.205 |
12.537 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
3.300 |
3.300 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.055 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
15.312
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9.040 |
5.515 |
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Sundry Debtors |
59.165
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53.542 |
54.751 |
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Cash & Bank Balances |
13.478
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10.077 |
15.243 |
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Other Current Assets |
0.897
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0.000 |
0.000 |
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Loans & Advances |
57.203
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8.949 |
31.002 |
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Total
Current Assets |
146.055
|
81.608 |
106.511 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
55.630
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41.029 |
51.637 |
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Provisions |
14.991
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7.942 |
9.101 |
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Total
Current Liabilities |
70.621
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48.971 |
60.738 |
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Net Current Assets |
75.434
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32.637 |
45.773 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
145.277 |
76.142 |
58.365 |
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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 (Estimated) |
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250.000 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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Debt Equity Ratio (Total Liability/Networth) |
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2.01
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1.85 |
3.32 |
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Current Ratio (Current Asset/Current Liability) |
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2.07
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1.67 |
2.33 |
LOCAL AGENCY
FURTHER INFORMATION
Note:
The Registered Office the company has been shifted from Chandigarh,
India to the present address w.e.f.
Trade Reference:
- SPL – India
- SPL – Gobal
- Ginne Private Limited
Form 8:
|
Corporate
identity number of the company |
U51909DL1993PTC171352 |
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Name of the
company |
ALPEX EXPORTS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
B-79 Shivalik Enclave Near Malviya Nagar, New Delhi – 110017, 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 |
Dr. Gopal Das Bhawan, 28 Barakhamba Road, New Delhi – 110001, India |
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Nature of
instrument creating charge |
Memorandum
Recording Extension of Equitable mortgage by deposit of title deeds. |
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Date of
instrument Creating the charge |
05.01.2008 |
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Amount secured by
the charge |
Rs.183.783 |
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Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of
Interests: Interests as per
loan agreement and Bank Norms. |
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Particulars of
the property charged |
Land bearing
khata/khatoni No.140/142, Khasra No.802/285 measuring 05 bighas and 07 biswas
and property bearing khata/khatoni No.13/14, Khasra No.291/1, Measuring 0.08
Bighas and Khasra No.292/1 measuring 0.09 Bighas thus total kites 02, Total
measuring 0.17 Bighas land and building constructed/ to be constructed
thereon and all the P and M Annexed thereto. |
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Particulars of
the present modification |
Amount secured by
this charge is increased to Rs.183.783 Million to secure various credit
facilities sanction to the company as detailed in col.12 (E) above security E.
M. of properties mentioned in col. 14 above and as described in second
schedule to memorandum recording extension of equitable mortgaged by deposit
of title deeds DT. 5-1-2008 attached. |
Profile:
Subject is an international trading company with a diversified
product portfolio. Their aims to be brought outlast products for the various
industries that they cater to. Company products confirm to strict international
quality standards and it has extensive national presence. Its branch and
representative offices are spread all over prominent Indian markets, providing
on location delivery to the customers and gathering real time information
because of the factor "Proximity to Market".
It has
always been company endeavor to constantly innovate new business course of
action while maintaining quality and cost effectiveness of products. With their
unwavering commitment towards quality, price and customer support, the company
has tried to ensure that company every product satisfies the esteemed
customers. It is, therefore, their strength that gives a unique recognition in
this highly competitive arena.
Team:
Subject
marketing team consists of trained professionals having in-depth knowledge of
the products in order to assist the customer as well as to act as a
troubleshooter in context of routine problems and query from the customer side.
Subject every personnel has a motto to serve the customer in all aspects.
Their
strong team of professionally qualified employees operates out of 7 locations
in India. Company believes in using the state of art technologies like Internet
tools in order to maintain an effective and efficient coordination between its
offices, which eventually result in providing better services to their
customers. This also gives their teams an edge above their competitors and
gives their people an encouraging atmosphere to work in.
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.43.30 |
|
UK Pound |
1 |
Rs.86.13 |
|
Euro |
1 |
Rs.68.72 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
6 |
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OPERATING SCALE |
1~10 |
6 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
6 |
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--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
54 |
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 |
|