MIRA
INFORM REPORT
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Report Date : |
22.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
SECURE MOBILE INDIA |
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Registered Office : |
A-20, Adhyapak Nagar, Nangloi, New Delhi – 110041 |
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Country : |
India |
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Financials (as on) : |
31.03.2008 |
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Year of Establishment : |
1995 |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer of bullet proof jackets, helmets, vests, bomb suits, bomb
blankets, bomb baskets. |
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 64470 |
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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 a well- established concern having satisfactory track. Trade
relations are fair. Payments are usually correct and as per commitments. The
concern can be considered normal for business dealings at usual trade terms
and conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Sanjay |
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Designation : |
Marketing Manager |
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Date : |
21.07.2008 |
LOCATIONS
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Registered Office / Head Office: |
A-20, Adhyapak Nagar, Nangloi, New Delhi-110041 |
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Tel. No.: |
91-11-25947387/25945534/55442155 |
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Fax No.: |
91-11-25944555 |
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E-Mail : |
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Website : |
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Area : |
500 Sq.fts |
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Location : |
Owned |
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Branch / Factory 1 : |
A-17, Harphool Vihar, Nangloi, New Delhi-110041 |
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Tel. No.: |
91-11-25947387 |
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Fax No.: |
91-11-25944555 |
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Area : |
4500 Sq.fts |
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Location : |
Owned |
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Factory 2 : |
1537Mie, Bahadurgarh, Haryana – 124507, India |
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Tel. No.: |
91-11-25947387 |
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Fax No.: |
91-11-25944555 |
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Area : |
4500 Sq.fts |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Rohtas Singh Yadav |
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Designation : |
Proprietor |
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Address : |
A-20, Adhyapak Nagar, New Delhi-110041 |
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Date of Birth/Age : |
55 years |
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Qualification : |
IITA Diploma |
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Experience : |
30 years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of bullet proof jackets, helmets, vests, bomb suits, bomb
blankets, bomb baskets. |
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Products: |
v
Portable Parapet
for Soldiers v
Bomb Trolley
II Bomb Basket
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Exports : |
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Countries : |
Nepal and Rayad |
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Imports : |
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Products : |
Aramid fabric steels |
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Countries : |
Canada, Sweden, UK and Japan |
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Terms : |
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Selling : |
L/C, Cash / Credit (90 days) |
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Purchasing : |
L/C, Cash / Credit (90 days) |
GENERAL
INFORMATION
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Customers : |
v
Northern Command Udhampur. v
Eastern Command Kolkata. v
Ministry of Home Affairs New
Delhi. v
Border Security forces (BSF) HQ
New Delhi. v
Central Reserve Police Force
(CRPF) HQ New Delhi. v
Indo Tibetan Police Force (ITBP)
New Delhi. v
National Security guard (NSG) HQ
New Delhi. v
Central Industrial Security
Force (CISF) HQ New Delhi. v
113, Works Engineers C/O 56 APO.
v
62, Works Engineers C/O 56 APO. v
13, Works Engineers C/O 56 APO. v
505, Army Base Workshop New
Delhi. v
507, army Base Workshop,
Kolkata. v
DRDO (Defence Research and
Development Organization). v
VRDE (Vehicles Research and
Development Establishment). v
CRF (Central Repair Facility
Cabinet Secretariat New Delhi). v
SRO (Special Repair Organization
Govt of India New Delhi). v
Assam Rifle Shillong. v
Commandant, Cenwesto, Tekenpur,
BSF Academy, Gwalior. v
Northern Railway, HQ Baroda House, New Delhi. v
Railway Protection Force, Firozpur. v
Department of Space ISRO, Mahendragiri. v
Archaeological Survey of India, New Delhi. v
Delhi Police HQ, New Delhi. v
Karnatka Police HQ, Banglore. v
Gujrat Police HQ, Ahemdabad. v
Chattisgarh HQ Police, Raipur. v
MP Police HQ Police Bhopal. v
Jharkhand HQ Police Rachi. v
J and K HQ Police Srinagar. v
UP HQ Police Allahabad. v
UP Police (Security HQ) Lucknow. v
HP CID HQ Police Shimla. v
A.P HQ Police Hyderabad. v
Tamil Nadu, HQ Police, Chennai. v
Orissa Police, HQ Cuttak. v
West Bengal
Police, HQ Kolkata v
Chief Minister
Manipur State v
Bhakra Beas, Irrigation
Division, Talwara Township. v
Reliance
Industries Limited v
Bristol Boats
Private Limited, Kerala. v
NHPC, Gorukamukh and LokTok, Assam. v
Hindustan Motor Finance Corporation Limited., New
Delhi/ Kolkata. v
Mahindra and Mahindra Limited., New Delhi. v
Raymond (Chairman), New Delhi. v
Vishwa Hindu Parishad, New Delhi. v
Hind Samachar Group, New Delhi. v
Jawaharlal Nehru Port Trust, Mumbai. v
Paradip Port Trust, Paradip (Orissa). v
Indian Oil Corporation Limited. (Refinery and Pipe
Divisions) v
Nepal Royal Armed Police, Kathamandu. v
AL-Araba Group (Saudi Arabia) Riyadh. v
Botswana Defence Force, South Afric |
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No. of Employees : |
35 (Office – 10, Factory 1 – 25 and Factory 2 – 5) |
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Bankers : |
South Indian Bank Limited, Janakpuri – 110058, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Deshraj and Company (Chartered Accountant) |
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Tel. No.: |
91-11-25278817 |
CAPITAL STRUCTURE
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Capital Investment : |
As On 31.03.2006 |
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Owned : |
Rs. 4.454 Millions |
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Borrowed : |
Rs. 8.440 Millions |
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Total : |
Rs. 12.894 Millions |
FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
|
31.03.2008 |
31.03.2007 |
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Sales Turnover |
|
50.000 |
40.000 |
Expected Sales (2008-09) : Rs. 80.000 Millions
ABRIDGED
BALANCE SHEET
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SOURCES
OF FUNDS |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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CAPITAL ACCOUNT |
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1] Proprietors Capital |
4.454 |
3.055 |
1.575 |
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2] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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NETWORTH
|
4.454 |
3.055 |
1.575 |
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LOAN FUNDS |
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1] Secured Loans |
8.439 |
5.669 |
0.749 |
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2] Unsecured Loans |
1.025 |
1.557 |
3.746 |
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TOTAL BORROWING
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9.464 |
7.226 |
4.495 |
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TOTAL
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13.918 |
10.281 |
6.070 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
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3.773 |
3.622 |
1.477 |
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INVESTMENT
|
3.963 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS &
ADVANCES
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Inventories
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1.452
|
1.127 |
1.283 |
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Sundry Debtors
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10.474
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12.534 |
6.348 |
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Cash & Bank Balances
|
0.609
|
0.009 |
0.014 |
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Other Current Assets
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0.000
|
2.746 |
1.937 |
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Loans & Advances
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0.000
|
0.152 |
0.000 |
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The South Indian Bank
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0.000
|
0.422 |
0.000 |
Total Current Assets
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12.535
|
16.990 |
9.582 |
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Less :
CURRENT LIABILITIES & PROVISIONS
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Current Liabilities &
Provisions
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0.000
|
0.000 |
0.000 |
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Creditors
|
6.232
|
9.225 |
4.481 |
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Expense payable
|
0.121
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1.106 |
0.508 |
Total Current Liabilities
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6.353
|
10.331 |
4.989 |
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Net Current Assets
|
6.182
|
6.659 |
4.593 |
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MISCELLANEOUS EXPENSES
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0.000 |
0.000 |
0.000 |
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TOTAL
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13.918 |
10.281 |
6.070 |
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PROFIT & LOSS A/C
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Particulars |
31.03.2006 |
31.03.2005 |
31.03.2004 |
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Sales Turnover |
39.322 |
23.940 |
18.092 |
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Profit for the year |
0.852 |
0.559 |
0.440 |
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Import Value - |
2.500 |
1.500 |
0.000 |
KEY RATIOS
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PARTICULARS |
|
31.03.2006 |
31.03.2005 |
31.03.2004 |
PAT / Total Income
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(%)
|
2.17
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2.34 |
2.43 |
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Net Profit Margin
(PBT/Sales) |
(%) |
2.40
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2.34 |
2.34 |
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Return on Total Assets
(PBT/Total Assets} |
(%) |
5.22
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2.71 |
7.25 |
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Return on Investment (ROI)
(PBT/Networth) |
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0.19
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0.18 |
0.28 |
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Debt Equity Ratio
(Total Liability/Networth) |
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3.55
|
5.75 |
6.02 |
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Current Ratio
(Current Asset/Current Liability) |
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1.97
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1.64 |
1.92 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References:-
v
Pareday International, Canada
v
Specific Group, Nepal
v
Railway Protection Force, Firozpur, India
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.42.71 |
|
UK Pound |
1 |
Rs.85.11 |
|
Euro |
1 |
Rs.67.73 |
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 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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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 |
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 |
|
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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