s
MIRA
INFORM REPORT
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Report Date : |
05.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
MAGNUM RESOURCES PRIVATE LIMITED |
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Registered Office : |
94, Old Ishwar Nagar, Near Shambhu Bagh, New Delhi – 110020 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
04.04.2002 |
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Com. Reg. No.: |
55-114825 |
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CIN No.: [Company
Identification No.] |
U52392DL2002PTC114825 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELM10870G |
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PAN No.: [Permanent
Account No.] |
AADCM8943N |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trading of Textile Machinery |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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Maximum Credit Limit : |
12000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track records.
Profit margin is under severe pressure. Trade relations are fair. Payments are reported as slow but correct. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
LOCATIONS
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Registered Office : |
94, Old Ishwar Nagar, Near Shambhu Dayal Bagh, New Delhi
110 020 (India) |
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Tel. No.: |
91-11-4264 8300/ 8301 |
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Fax No.: |
91-11-4264 8306/ 8305 |
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Email : |
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Corporate Office : |
3rd Floor, 3 Community Centre, Saket, New Delhi
- 110017 |
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Tel. No.: |
91-11-51636223 |
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Mobile No.: |
91-9811085040 |
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Fax No.: |
91-11-51637122 |
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E-Mail : |
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Website : |
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Branches : |
Located at : ·
Bangalore · Mumbai ·
Chennai ·
Tirupur ·
Jaipur |
DIRECTORS
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Name : |
Mr. Ashok Anurag |
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Designation : |
Director |
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Address : |
S – 241, Greater Kailash – II, New Delhi – 110048, India |
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Date of Appointment : |
03.04.2002 |
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Name : |
Ms. Kavita Anurag |
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Designation : |
Director |
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Address : |
S – 241, Greater Kailash – II, New Delhi – 110048, India |
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Date of Appointment : |
22.04.2004 |
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Name : |
Mr. Devinder Pal Singh |
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Designation : |
Director |
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Address : |
S – 99, Panchsheel Park, New Delhi – 110017, India |
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Date of Birth/Age : |
07.10.1952 |
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Date of Appointment : |
26.08.2006 |
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Name : |
Mr. Deepit Singh |
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Designation : |
Director |
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Address : |
S – 99, Panchsheel Park, New Delhi – 110017, India |
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Date of Birth/Age : |
13.10.1978 |
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Date of Appointment : |
26.08.2006 |
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Name : |
Mr. Manjit Singh Bakshi |
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Designation : |
Director |
KEY EXECUTIVES
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Name : |
M L Sharma and Company |
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Designation : |
Company Secretary |
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Address : |
C-6/166, Yamuna Vihar, Delhi – 110053, India |
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Mobile : |
91-9213178337 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 31.03.2007)
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Names of Shareholders |
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No. of Shares |
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Mr. Ashok Anurag |
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5000 |
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Ms. Kavita Anurag |
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5000 |
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Total |
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10000 |
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Bodies corporate |
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20.00 |
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Directors or relatives of directors |
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80.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Trading of Textile Machinery |
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Products : |
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GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
30 |
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Bankers : |
Overseas Branch, M
– 93, Connaught Circus, New Delhi – 110001, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Gupta Bhalla and Associates Chartered Accountants |
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Address : |
22 Sharda Apartments, 3 West Enclave, Pitam Pura, New Delhi – 110034,
Idnia |
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Associates/Subsidiaries : |
v Magnum
Solution Private Limited Date of Incorporation : 4th December, 1995 |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.500 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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250000 |
Equity Shares |
Rs. 10/- each |
Rs. 2.500 Millions |
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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 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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2.500 |
0.100 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.450 |
2.605 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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2.950 |
2.705 |
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LOAN FUNDS |
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1] Secured Loans |
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0.930 |
1.612 |
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2] Unsecured Loans |
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16.426 |
0.151 |
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TOTAL BORROWING |
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17.356 |
1.763 |
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DEFERRED TAX LIABILITIES |
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0.302 |
0.224 |
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TOTAL |
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20.608 |
4.692 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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3.775 |
3.197 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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5.349 |
5.349 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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28.168 |
17.897 |
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Sundry Debtors |
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21.191 |
18.249 |
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Cash & Bank Balances |
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1.673 |
1.123 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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6.421 |
8.095 |
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Total
Current Assets |
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57.453 |
45.364 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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45.886 |
48.847 |
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Provisions |
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0.110 |
0.412 |
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Total
Current Liabilities |
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45.996 |
49.259 |
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Net Current Assets |
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11.457 |
[3.895] |
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MISCELLANEOUS EXPENSES |
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0.027 |
0.041 |
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TOTAL |
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20.608 |
4.692 |
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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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119.485 |
115.425 |
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Other Income |
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9.619 |
8.092 |
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Total Income |
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129.104 |
123.517 |
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Profit/(Loss) Before Tax |
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0.611 |
1.342 |
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Provision for Taxation |
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0.391 |
0.842 |
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Profit/(Loss) After Tax |
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0.220 |
0.500 |
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Expenditures : |
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Financial Charges |
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0.617 |
0.446 |
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Depreciation & Amortization |
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0.381 |
0.270 |
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Other Expenditure |
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127.495 |
121.459 |
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Total Expenditure |
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128.493 |
122.175 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
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0.17 |
0.40 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.51 |
1.16 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.99 |
2.76 |
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Return on Investment (ROI) (PBT/Networth) |
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0.21 |
0.50 |
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Debt Equity Ratio (Total Liability/Networth) |
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21.48 |
18.86 |
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Current Ratio (Current Asset/Current Liability) |
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1.25 |
0.92 |
LOCAL AGENCY
FURTHER INFORMATION
The subject is an authorised distributor for the following
companies:
- Pegasus Sewing Machine Manufacturing Company Limited, Japan
- Sunstar, Korea
- Lectra
- Bell ID
- EDI Asia
- Ned Graphics
- Pegasus
- Singapore Machinery Company
- Covemat
Form 8:
Bankers Charges
Report as per Registry
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This form is for |
Creation of
charge |
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Corporate
identity number of the company |
U52392DL2002PTC114825 |
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Name of the
company |
MAGNUM RESOURCES PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in India of the company |
3rd Floor, 3 Community Centre, Saket, New Delhi
– 110017 |
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Type of charge |
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Particular of
charge holder |
Corporation Bank Overseas Branch M – 93, Connaught
Circus, New Delhi – 110001, India |
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Nature of description
of the instrument creating or modifying the charge |
Common deed of
hypothecation of movables / assets / debts |
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Date of
instrument Creating the charge |
26.03.2007 |
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Amount secured by
the charge |
Rs. 10.000
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
: Rate of Interest
shall be 12.50 % p.a. which is cobra at present Term of Repayment
On Demand Extent and
operation of the charge Cash credit
limit |
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Short particulars
of the property charged |
Hypothecation of
Stock, Book debts and all other current assets existing and future in the
name of the company. hypothecation of all other movable assets inclusive
plants and machinery, furniture and fixture. |
AS PER
WEBSITE
Profile
They serve their clients in the
Apparel, Textile, Automotive & Aeronautical Industries from six centers
located in New Delhi, Bangalore, Chennai, Tirupur, Mumbai and Jaipur. They deliver
best of breed — state of the art solutions, manufacturing advisory services
related to their solutions, resource training and allied services in the
domain.
They are a client – focused and
relationships based company and believe that their investment in people,
partnerships, technology and knowledge not only helps them build enduring
customer relationships, but also enables them to constantly strengthen their
service capabilities. Magnum has over 15 years of experience in India with
operations in multiple sub-domains including fabrics, textiles, car seats,
bullet proof clothing, aerospace, leather & footwear etc. Covering an
integrated range of CAD & CAM solutions from world’s leading suppliers and
a total staff strength of over 60 personnel spread across the nation gives them
a strong track record in both deploying and supporting them efficiently.
They have a deep understanding of
their client’s requirements, local market dynamics, with access to a network of
domain experts. This enables them to put the best team in place and ensure the
delivery of optimum solutions to complex manufacturing problems at the most
optimum return on investment for their clients. They deploy technology at each
level of their company to be better prepared and have scored many firsts in the
industry. In 2003, they were the first to deploy Online Software support, ERP
for integrated Finance and Relationship Management and CRM to ensure speedy
delivery of services. Magnum invested in processes and people. to offer its clients
assistance in arriving at quality decisions as they understand that their
quality, productivity goals and overall success depends on the investment
decisions they make today.
Partner
Lectra
They partner with the best of
breed solution providers in the world and choose the partners who they work
with closely since they understand that their ability to serve their clients is
affected by the quality of solutions that they propose to them.
Is the world leader in software, CAD/CAM equipment &
related services dedicated to users of textiles, leather and industrial
fabrics. Lectra addresses a broad array of major global markets, including
fashion, auto motive, aeronautical, marine and furniture. The company’s
technology offering is geared to the specific needs of each market, enabling
its customers to design, develop and manufacture their products (garments,
seats, airbags, etc.). For the fashion professions, Lectra’s software
applications enable the management of collections and cover the entire product
life cycle, up to retailing. Lectra forges long-term relationships with its
custom ers and develops complete, innovative solutions that respond to their
strat egic challenges. Lectra has 17000 customers in more than 100 countries
and over 1500 employees worldwide and has revenues of over Euros 216 Million
with approx 10% of which goes to fund its internal R&D.
EDIASIA
Established in 1994 in Hong Kong,
is a leading Electronic Data Interchange (EDI) solution provider that enables
client companies to exchange commercial documents electronically with buyers
and third par ties such as consolidators. A total Order Processing and Shipping
Manage -ment solution EDI enables the customer and brings benefits to both
their clients and their buyers.
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.42.63 |
|
UK Pound |
1 |
Rs.83.40 |
|
Euro |
1 |
Rs.65.80 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
6 |
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PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
4 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
4 |
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--RESERVES |
1~10 |
4 |
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--CREDIT LINES |
1~10 |
4 |
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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 |
|
38 |
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 |
|