MIRA
INFORM REPORT
|
Report Date : |
14.05.2008 |
IDENTIFICATION
DETAILS
|
Name : |
RADIOHMS AGENCIES LIMITED |
|
|
|
|
Registered Office : |
B – 7/2, Okhla Industrial Area, Phase II, New Delhi 110020 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2007 |
|
|
|
|
Com. Reg. No.: |
164948 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U51100DL2005PLC164948 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELR14264F |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AADCR3847A |
|
|
|
|
Legal Form : |
Closely held Public Limited Liability Company |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of Nippo Batteries, Nippo Torches |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 1536 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
As per last financials of March, 2007, the Company had no sales although
tall claim made on their website about their representations. We tried to reach Management and Mr. Mohammed Aslam remained non
committed. If we get more information, we shall supplement the report. In the meantime, the Company can be considered for any business
dealings on safe and secured trade terms and conditions, only. |
LOCATIONS
|
Registered Office : |
B – 7/2, Okhla Industrial Area, Phase II, New Delhi 110020, India |
|
Tel. No.: |
91-11-40500800 / 40500900 / 41704941 |
|
Fax No.: |
91-11-41704942 |
|
E-Mail : |
|
|
Website : |
DIRECTORS
|
Name : |
Mr. Sushil Kumar Jiwarajka |
|
Designation : |
Director |
|
Address : |
1702, Mahindra Heights, Tardeo, Mumbai 400026, Maharashtra, India |
|
|
|
|
Name : |
Mr. Rajendra Prasad Khaitan |
|
Designation : |
Chairman and Director |
|
Address : |
W – 58, Greater Kailash, Part II, New Delhi 110048, India |
|
|
|
|
Name : |
Mrs. Sarla Devi Khaitan |
|
Designation : |
Director |
|
Address : |
W – 58, Greater Kailash, Part II, New Delhi 110048, India |
|
|
|
|
Name : |
Mrs. Aradhna Khaitan |
|
Designation : |
Director |
|
Address : |
W – 58, Greater Kailash, Part II, New Delhi 110048, India |
|
|
|
|
Name : |
Mrs. Nidhi Khaitan |
|
Designation : |
Director |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
|
Names of Shareholders [As on 16.02.2007] |
|
No. of Shares |
|
Mr. Rajendra Prasad Khaitan |
|
37500 |
|
Mrs. Sarla Devi Khaitan |
|
10000 |
|
Mrs. Aradhna Khaitan |
|
500 |
|
Mrs. Nidhi Khaitan |
|
500 |
|
Mrs. Savitri Devi Jiwarajka |
|
500 |
|
Ms. Vandana Khaitan |
|
500 |
|
Ms. Anuradha Khaitan |
|
500 |
|
Total |
|
50000 |
|
|
|
|
|
Equity Share
Break-up [ As on 31.03.2007] |
|
Percentage of
Holding |
|
Directors or relatives of the Directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Nippo Batteries, Nippo Torches |
|
|
|
|
Products : |
Personal
Grooming Products
|
GENERAL
INFORMATION
|
Bankers : |
74, Janpath,
Connaught Place, New Delhi 110001, India |
|
|
|
|
Banking
Relations : |
Unknown |
|
|
|
|
Auditors : |
|
|
Name : |
K. Prasad and Company Chartered Accountants |
|
Address : |
C – 31, South Extension 1, New Delhi 110049, India |
|
|
|
|
|
|
|
Name : |
M. V. Tulsyan Chartered Accountants |
|
Address : |
B – 12, Suri Dutt Apartment, Kisan Road, Malad, Mumbai 400067,
Maharashtra, India |
|
|
|
|
Group Companies: |
|
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3000000 |
Equity Shares |
Rs. 10/- each |
Rs. 30.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs. 10/-
each |
Rs. 0.500
Million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.500 |
0.300 |
0.300 |
|
|
2] Share Application Money |
0.005 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
[0.121] |
[0.066] |
[0.038] |
|
|
NETWORTH |
0.384 |
0.234 |
0.262 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.060 |
0.060 |
|
|
TOTAL BORROWING |
0.000 |
0.060 |
0.060 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
0.384 |
0.294 |
0.322 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.000 |
0.000 |
0.000 |
|
|
Capital work-in-progress |
0.980 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
0.270
|
0.183 |
0.183 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
0.270
|
0.183 |
0.183 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
0.991
|
0.031 |
0.020 |
|
|
Provisions |
0.000
|
0.000 |
0.000 |
|
Total
Current Liabilities |
0.991
|
0.031 |
0.020 |
|
|
Net Current Assets |
[0.721]
|
0.152 |
0.163 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.125 |
0.142 |
0.159 |
|
|
|
|
|
|
|
|
TOTAL |
0.384 |
0.294 |
0.322 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
|
Total Income |
|
NA |
NA |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
[0.055] |
[0.028] |
|
|
Provision for Taxation |
|
-- |
-- |
|
|
Profit/(Loss) After Tax |
|
[0.055] |
[0.028] |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Payment to Auditors |
|
0.011 |
0.011 |
|
|
Other Expenditure |
|
0.044 |
0.017 |
|
Total Expenditure |
|
0.055 |
0.028 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.58
|
0.38 |
0.30 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.27
|
5.90 |
9.15 |
LOCAL AGENCY
FURTHER INFORMATION
Note:
The Registered Office of the Company has been changed
from 384, Dongre Building, Lamington Road, Mumbai 400007, Maharashtra, India to
B –
7/2, Okhla Industrial Area, Phase II, New Delhi 110020, India w.e.f.
14.06.2007.
Form 8
|
This form is for |
Modification of
charge |
|
Charge Identification
number of the charge to be modified |
10072486 |
|
Corporate
identity number of the company |
U51100DL2005PLC164948 |
|
Name of the
company |
RADIOOHMS
AGENCIES LIMITED |
|
Address of the
registered office or of the principal place of business in India of the company |
B – 7/2, Okhla Industrial Area, Phase II, New Delhi 110020, India |
|
Type of charge |
Book Debts Others |
|
Particular of
charge holder |
Canara Bank 74, Janpath,
Connaught Place, New Delhi 110001, India |
|
Nature of description
of the instrument creating or modifying the charge |
Supplemental
Agreement |
|
Date of
instrument Creating the charge |
10.12.2007 |
|
Amount secured by
the charge |
Rs. 0.996
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
[a] Rate of
interest Rate of interest
@ 3.50% p.a. above on going BPLR with a minimum of 16.75% p.a. [b] Terms of
repayment As per agreement [c] Margin As per agreement [d] Extent and
operation of the charge 100% [e] others FLC of Rs. 0.996
Millions |
|
Short particulars
of the property charged |
Hypothecation of
stocks and Book Debts both present and future of the company. |
|
Particulars of
the present modification |
The PLC limit
stand enhanced from Rs. 0.978 Millions to Rs. 0.996 Millions. Other terms and conditions remain the
same. |
AS PER WEBSITE DETAILS
PROFILE
Subject is one of India's
largest Channel Distribution Company, Catering to more then 500,000+ Retail
Outlets and 500,000 whole sale outlets across the country, covering the
smallest village grocery shops to Mega Lifestyle Chains and Hyper Markets in
Metros.
India is a country,
which is currently dominated by the mass market. Almost half of retail market
in 2006 is in rural India; although share of urban market is increasing by
almost 5% every 8-10 years .Rural India consists of 720 Million consumers
across 627,000 villages. 17% of these villages account for 50% of the rural
population and 60% of the rural wealth implying reaching out to almost 100,000+
villages to address even 50% of this rural opportunity
India is one of
the most fragmented and price sensitive - markets in the world which is spread
over 12 million outlets. 95% of outlets are smaller than 500 sq ft. Highest
number of outlets is 7 per 1000. Indian retail space per capita at 2 sq ft/
person is lowest in the world. Indian retail density of 6% is highest in the world
To cater to these
outlets RAL has relied on Price, Positioning, Logistics and market
intelligence. RAL has developed a robust manpower of 1000 field force which are
directly in touch with the market. Not to forget their strong Logistics and IT
to cater such varied formats.
Currently on 3% of
the retail sector is organized. Remaining 97% is still organized. Organized
sector will be able to rach 10% market share by the year 2010. Thus to capture
the retail market in India a very strong and robust distribution network is
required which is RAL’s strength.
Retail in India is
forecasted that organized retail will cross Rs. 1,000 billion mark by 2010.
Radiohms Agencies Limited is geared up for the challenges ahead. They have
developed their credibility by breaking into the portable energy market in the
1970’s. In the 70’s their competitors eveready enjoyed 100% market share. Today
they have neck to neck competition with their Nippo Batteries as they enjoy 32%
market share close there at 37%.
RAL has 2000 small vans
which go into the remotest and smallest hamlets where there are no shops and
retail. Radiohms Agencies Limited has industry veterans on its roll who
understand the complex Indian market and the needs of Mega Lifestyle and Hyper
Bazar Chains.
RAL has been
dealing with multi national companies globally from Japan, Sweden, US, UK,
Germany, China since last three decades and speak their language. they are thus
able to bridge the gap between the Multinational and the local shopkeeper.
Currently RAL is
into 3 categories:
- Portable Energy ( Matushita
under umbrella brand ‘Nippo')
- Personal Grooming ( American
Safety Razor Company under umbrella brand ‘ Glide’)
- Mother & Infant Care- ( Luv n
Care, Good Baby under Umbrella Brand ‘ Purple Turtle’)
Radiohms Agencies
Limited is developing new business formats, like B2B Outlets, E-Retailing.
Radiohms Agencies Limited also plans to foray into retail in the year 2007-08.
RAL offers to
retailers an exhaustive range of products, backed with par excellence
logistics, displays and promotions.
It offers to
brands, such distribution on a platter, so that they are on the shelves across
the country, within no time.
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. 42.64 |
|
UK Pound |
1 |
Rs. 83.00 |
|
Euro |
1 |
Rs. 66.00 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
1 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
-- |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
13 |
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 |
|