MIRA
INFORM REPORT
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Report Date : |
05.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
AKT IMPEX PRIVATE LIMITED |
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Registered Office : |
B-264, Hastal Village, Uttam Nagar, New Delhi – 110 059 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
24.05.2000 |
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Com. Reg. No.: |
55 – 105868 |
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CIN No.: [Company
Identification No.] |
U51109DL2000PTC105868 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELA18983G |
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PAN No.: [Permanent
Account No.] |
AACCA7119D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers, Trader and Importer
of Automobile Accessories |
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 2260 |
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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 and reputed company having satisfactory
track record. Directors are reported as experience and respectable
businessmen. Trade relations are reported as fair. Business is active.
Payments are usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Sanjay Arora |
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Designation : |
Sales Director |
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Contact No.: |
91-313853054 |
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Date : |
03.05.2008 |
LOCATIONS
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Registered Office/ Factory 1: |
B-264, Hastal Village, Uttam Nagar, New Delhi – 110059, India. |
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Tel. No.: |
91-11-25648427/ 25648207/ 25562744/ 45527277/ 64591111/ 25565093 |
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Fax No.: |
91-11-25648427/ 25648207/ 45527277 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Factory 2: |
Haryana, India |
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Location : |
Owned |
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Corporate Office : |
G -21, 305-306, Vardhaman Chambers – II, PVR Complex, Vikas Puri, New Delhi
– 110018, India. |
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Tel. No.: |
91-11-45527277, 64591111 |
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Fax No.: |
91-11-45527277 |
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Mobile No.: |
91-9810050502( Mr. Ashok Thakral, Managing Director) 91-9313853054(Mr. Sanjay Arora) |
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Email : |
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Website : |
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Area : |
600 sq. ft. |
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Location : |
Owned |
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Branches : |
48 /25 /1, Hastsal Industrial Area, New Delhi – 110059, India. |
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Tel. No.: |
91-11-25648207, 25565093 |
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Fax No.: |
91-11-255219970 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Ashok Kumar Thakral |
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Designation : |
Director |
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Address : |
A-182, Janak Puri, New Delhi – 110 058, India. |
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Date of Birth/Age : |
08.04.1957 |
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Qualifications : |
B. com, Graduate |
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Date of Appointment : |
24.05.2000 |
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Name : |
Mr. Parmanand Thakral |
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Designation : |
Director |
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Address : |
C4C /256, Janak Puri, New Delhi – 110 058, India. |
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Date of Birth/Age : |
05.05.1933 |
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Date of Appointment : |
26.08.2000 |
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Name : |
Mr. Gulshan Kumar Thakral |
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Designation : |
Director |
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Address : |
Flat No.95, Site –II, C- Block, Janak Puri, New Delhi – 110 058,
India. |
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Date of Birth/Age : |
12.12.1959 |
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Qualifications : |
M. Com |
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Date of Appointment : |
26.08.2000 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
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Names of Shareholders |
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No. of Shares |
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Mr. Ashok Kumar Thakral |
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40000 |
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Mr. Parmanand Thakral |
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10000 |
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Total |
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50000 |
(As on 31.03.2007)
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturers, Trader and Importer
of Automobile Accessories |
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Products : |
· Wheel Covers · Door Side Beadings · Carpet Foot Mats · PVC Floor
Matting / Foot Mats · Mud Flaps
–Rubber, PVC and PP · Rubber Floor
Mats / Foot Mats · Body Covers · Dash Board
Covers · SUV – Stepney
Covers · Steering Covers |
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Imports : |
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Products : |
· Raw materials · Automotive accessories
· Car Accessories |
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Countries : |
· Taiwan · China · Belgium · Singapore · Malaysia · Sri Lanka |
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Terms : |
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Selling : |
L/C and Credit (60 - 90 days) |
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Purchasing : |
Letter of credit and documents against payment |
PRODUCTION STATUS
- 1.2 Million wheel covers per annum
- 1.5 million rubber and PVC foot mats per annum
- Million carpet mats per annum
- Million mud flaps
GENERAL
INFORMATION
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Customers : |
· Wholesalers · Retailers · End Users · Automotive Sales
Corporation · Capital Sales
Limited · Combined Auto
Corporation · Mirkana
Engineering Private Limited · New Look Car
Accessories · Sai Car Décor · Pasco
Automobiles · Foucot Car
Beauty Sallon · DD Motors · Skri Car Décor · Car Queen |
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Suppliers : |
· Hundai Merchant Marine
Private Limited · RMG Polyvinyal
India Limited · Supreme Source
Limited · Bajaj Carpet
Industries Limited |
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No. of Employees : |
Around 50 |
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Bankers : |
· Canara Bank Chandni Chowk, Kaisons House,Delhi Branch, Delhi – 110006, India · ICICI Bank |
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Facilities : |
(CC) Terms Loans Cash Credit: Rs.2.000 Millions From Canara Bank As Per Hypothecation
Agreement Dated 08.01.2001. It Is Secured By Hypothecation Of All The Goods, Commodities, Book Debts,
Outstanding Moneys Receivable, Claims And Bills Arising Out Of The Sale,
Disposal Of The Goods. |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
M/s VPMG and Company Chartered Accountant |
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Address : |
AC/166 –C, Shalimar Bagh, Delhi 110 088, India. |
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Mobile No.: |
91-9899450262 |
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E-Mail : |
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Name : |
H K Chabbra and Company Chartered Accountant |
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Address : |
324, Dhaka Chambers – I, 2068/38, Naiwala, Karol Bagh, New Delhi –
110005, India |
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Membership : |
CII (Confederation of India Industry) |
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Associates/Subsidiaries : |
MGT International |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs.10/- Each |
Rs. 10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- Each |
Rs. 0.500 Million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.500 |
0.500 |
0.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.065 |
0.071 |
0.043 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
0.565 |
0.571 |
0.543 |
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LOAN FUNDS |
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1] Secured Loans |
2.756 |
1.846 |
1.753 |
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2] Unsecured Loans |
1.358 |
2.114 |
0.908 |
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TOTAL BORROWING |
4.114 |
3.960 |
2.661 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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Current Liability |
0.000 |
3.638 |
4.245 |
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TOTAL |
4.679 |
8.169 |
7.449 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.941 |
0.329 |
0.412 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.007 |
0.008 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
6.563 |
2.740 |
3.775 |
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Sundry Debtors |
3.522 |
4.160 |
2.787 |
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Cash & Bank Balances |
0.055 |
0.111 |
0.180 |
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Other Current Assets |
0.000 |
0.027 |
0.285 |
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Loans & Advances |
0.365 |
0.786 |
0.000 |
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Total
Current Assets |
10.505 |
7.824 |
7.027 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
6.573 |
0.000 |
0.000 |
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Provisions |
0.207 |
0.000 |
0.000 |
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Total
Current Liabilities |
6.780 |
0.000 |
0.000 |
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Net Current Assets |
3.725 |
7.824 |
7.027 |
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MISCELLANEOUS EXPENSES |
0.006 |
0.008 |
0.010 |
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TOTAL |
4.679 |
8.169 |
7.449 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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Sales Turnover |
8.781 |
35.003 |
10.405 |
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Other Income |
0.000 |
0.000 |
0.010 |
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Total Income |
8.781 |
35.003 |
10.415 |
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Profit/(Loss) Before Tax |
0.040 |
0.037 |
0.045 |
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Provision for Taxation |
0.000 |
0.016 |
0.013 |
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Profit/(Loss) After Tax |
0.040 |
0.021 |
0.032 |
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Import Value |
NA |
1.032 |
4.337 |
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Expenditures : |
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Depreciation |
0.124 |
0.083 |
0.105 |
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Financial charges |
0.000 |
0.063 |
0.060 |
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Other Expenditure |
8.617 |
34.820 |
10.205 |
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Total Expenditure |
8.741 |
34.966 |
10.370 |
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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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PAT / Total Income |
(%) |
0.45 |
0.06 |
0.31 |
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Net Profit Margin (PBT/Sales) |
(%) |
0.45 |
0.10 |
0.43 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.35 |
0.45 |
0.60 |
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Return on Investment (ROI) (PBT/Networth) |
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0.07 |
0.06 |
0.08 |
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Debt Equity Ratio (Total Liability/Networth) |
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19.28 |
6.93 |
4.90 |
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Current Ratio (Current Asset/Current Liability) |
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1.55 |
0.00 |
0.00 |
LOCAL AGENCY FURTHER
INFORMATION
History:
Incorporated on 24.05.2000 the subject is engaged in the business of
importers and manufacturers of automotive wheel covers, automotive PVC floor
matting and foot mats, rubber floor mats.
Trade
Reference:
· D. D. Motors (dealing with Maruti Car)
· Car Heaven (Delhi) (Retailers)
· Reliance Retail Limited
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.40.65 |
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UK Pound |
1 |
Rs.80.35 |
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Euro |
1 |
Rs.62.78 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
45 |
This score serves as a reference to assess SC’s credit risk and
to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
|
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/normal. |
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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