MIRA
INFORM REPORT
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Report Date : |
22.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
M S POWER WHEELS PRIVATE LIMITED |
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Registered Office : |
511, Northex Tower, Netaji Subhash palace, Pitampura, New Delhi – 110
034. |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
22.02.2007 |
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Com. Reg. No.: |
159584 |
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CIN No.: [Company
Identification No.] |
U34102DL2007PTC159584 |
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Central Sales Tax No.: |
07770328345 |
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State Sales Tax No.: |
07770328345 |
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PAN No.: [Permanent
Account No.] |
AAECM9800B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Tyre retreading materials. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New company |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new company and in the process of establishing
itself. The company seems to be progressing well. Trade relations are fair. Payments
are reported as usually correct and as per commitments. The company can be considered for small to mediocre business dealings. We spoke to Mr. Avdhesh who declined to part with any information |
INFORMATION PARTED
BY
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Name : |
Mr. Avdhesh |
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Date : |
17.07.2008 |
LOCATIONS
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Registered Office : |
511, Northex Tower, Netaji Subhash palace, Pitampura, New Delhi – 110
034, India. |
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Tel. No.: |
91-11-47002551 |
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Mobile No.: |
91-9811063160 |
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Fax No.: |
91-11-47002551 |
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E-Mail : |
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Website : |
DIRECTORS
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Name : |
Mr. Shalender Lamba |
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Designation : |
Director |
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Address : |
7/ 45A Punjabi Bagh, West Delhi, Delhi-110026, India |
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Date of Birth/Age : |
17.09.1982 |
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Date of Appointments: |
10.07.2007 |
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Name : |
Mrs. Manju Verma |
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Designation : |
Director |
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Address : |
7/ 45A Punjabi Bagh, West Delhi, Delhi-110026, India |
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Date of Birth/Age : |
17.09.1963 |
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Date of Appointments: |
22.02.2007 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Mr. Shalender Lamba |
5,000 |
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Mrs. Manju Verma |
5,000 |
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Total |
10,000 |
Equity Share Breakup (Percentage of total Equity)
As on 30.09.2007
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Category |
Percentage |
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Bodies corporate ( not mentioned above) |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Tyre retreading materials. |
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Products : |
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GENERAL
INFORMATION
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Bankers : |
Axis Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Madan Jha and Associates Chartered Accountant |
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Address : |
318, Pocket – D, Mayur Vihar, New Delhi-110091, India |
CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10,000 |
Equity Shares |
Rs. 10/- Each |
Rs. 0.100 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10,000 |
Equity Shares |
Rs. 10/- Each |
Rs. 0.100 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 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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[0.126] |
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NETWORTH |
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[0.026] |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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1.186 |
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TOTAL BORROWING |
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1.186 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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1.160 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.113 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
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Sundry Debtors |
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0.000 |
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Cash & Bank Balances |
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0.184 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.877 |
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Total
Current Assets |
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1.061 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.014 |
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Provisions |
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0.000 |
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Total
Current Liabilities |
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0.014 |
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Net Current Assets |
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1.047 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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1.160 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
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Debt Equity Ratio (Total Liability/Networth) |
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[46.15] |
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Current Ratio (Current Asset/Current Liability) |
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75.79 |
LOCAL AGENCY
FURTHER INFORMATION
As per Website:
Introduction:
Subject is manufacturer and exporter of tyre retreading
materials. Their products are known for their high quality, extra bonding, high
durability and for meeting the latest technological requirements to give extra
mileage.
Impeccable quality, reasonable prices and timely delivery of
the products are the hallmark of every eminent enterprise. The above discussed
factors are the trademark at MS Powerwheels Private Limited The organization is
a progressive manufacturer, exporter and trader of superlative tyre retreading
materials such as precured tread rubber, tread rubber, cushion gum, black
vulcanizing cement, rubber compound, rubber machine and other allied products.
Equipped with the latest technology and supplemented by skilled
workforce have enabled their company to stand up to stringent national and
international standards. The company has carved a valuable niche for itself in
today's competitive business scenario by delivering higher grade solutions at
much reasonable prices.
They boast of a highly experienced and dedicated workforce
including their competent engineers, technicians and supervisors to manufacture
unsurpassable products. Their dedication towards continuous improvement and
development of their product range results in products which offer complete
reliability through an efficient performance, even in the most arduous
operating conditions. They are capable of manufacturing 400 tonnes of tyre
retreading materials on a monthly basis. Their products are known for their
high quality, extra bonding, high durability and in synchronization with the
latest technological requirements to give extra mileage to the vehicles.
CMT REPORT
(Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating money-laundering,
anti-corruption or bribery or international economic or anti-terrorism sanction
laws or whose assets were seized, blocked, frozen or ordered forfeited for
violation of money laundering or international anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No
available information exist that suggest that subject or any of its principals
have been formally charged or convicted by a competent governmental authority for
any financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE
GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.71 |
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UK Pound |
1 |
Rs.85.11 |
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Euro |
1 |
Rs.67.73 |
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 |
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 |
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 |
NO |
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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 |
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27 |
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit transaction.
It has above average (strong) capability for payment of interest and
principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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