MIRA
INFORM REPORT
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Report Date : |
22.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
SALASAR CARPETS PRIVATE LIMITED |
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Registered Office : |
E-1/7, 3rd Floor, East Patel Nagar, Delhi – 110008, Delhi |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
11.03.2003 |
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Com. Reg. No.: |
119366 |
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CIN No.: [Company
Identification No.] |
U17226DL2003PTC119366 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELS26895B |
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PAN No.: [Permanent
Account No.] |
AAICS3404M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trader and Importer of Carpets and Laminated Floorings Wooden |
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 : |
USD 11548 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company. Scale of activity is limited.
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 : |
E-1/7, 3rd Floor, East Patel Nagar, Delhi – 110008, Delhi |
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Tel. No.: |
91-11-27867993 |
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E-Mail : |
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Area : |
1400 Sq. ft |
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Location : |
Owned |
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Corporate Office : |
Shop No. 44C S 6 Sector No. 9, Rohini, New Delhi - 110085 |
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E-Mail : |
77 A, Coromangla Industrial Layout, J. N. C. Road, Koramaragu, 5th Block, Bangalore – 560095 |
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Tel. No.: |
91-51506144 |
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Area : |
1400 Sq. ft |
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Location : |
Rented |
DIRECTORS
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Name : |
Mr. Navin Tibrewal |
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Designation : |
Director |
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Address : |
E-1/7, 3rd Floor, East Patel Nagar, Delhi – 110008 |
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Date of Birth/Age : |
11.12.1974 |
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Qualification : |
Graduate |
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Date of Appointment : |
18.03.2005 |
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Name : |
Mrs. Palavi Tibrewal |
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Designation : |
Director |
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Address : |
E-1/7, 3rd Floor, East Patel Nagar, Delhi – 110008 |
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Date of Birth/Age : |
14.11.1978 |
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Qualification : |
Graduate |
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Date of Appointment : |
11.03.2003 |
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Name : |
Mr. Anil Ramgopal Kedia |
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Designation : |
Director |
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Address : |
441, Sainik Vihar, pitampura, Delhi |
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Date of Appointment : |
11.03.2003 |
KEY EXECUTIVE
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Name : |
Ms Sonia Shah |
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Designation : |
Company Secretary |
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Address : |
7160, Birla Staff Qtrs., Kamla Nagar, Delhi - 110007 |
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Mobile : |
91-9312138760 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on :12.06.2005
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Names of Shareholders |
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No. of Shares |
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Mrs. Palavi Tibrewal |
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25200 |
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Mr. Navin Tibrewala |
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25000 |
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Mr. Lokesh Tibrewala |
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25000 |
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Mr. Raj Kumar |
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50000 |
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Mr. Rajnish Tibrewala |
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2500 |
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Mr. Sunil Tibrewala |
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25000 |
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Ms. Asha Tibrewala |
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500 |
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Category |
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Percentage of
Holding |
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Directors or Relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader and Importer of Carpets and Laminated Floorings Wooden |
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Brand Names : |
‘BALTA’ |
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Imports from : |
Belgium |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
L/C |
GENERAL
INFORMATION
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Customers : |
Retailers and End Users |
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No. of Employees : |
2 |
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Bankers : |
Punjab National Bank, Punjabi Branch, New Delhi ICICI Bank |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Gupta Nayyar and Company Chartered Accountant |
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Address : |
Shop No. 44, C.S.C. No. 6, Park Plaza Market, Sector – 9, Rohini, Delhi – 110085 |
CAPITAL STRUCTURE
As on :20.08.2007
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Shares |
Rs.10/- each |
10.000 millions |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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255700 |
Equity Shares |
Rs.10/-each |
Rs.2.557
millions |
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 |
2.558 |
2.288 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.110 |
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3] Reserves & Surplus |
0.329 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
(0.296) |
(0.008) |
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NETWORTH |
2.887 |
1.992 |
0.202 |
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LOAN FUNDS |
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1] Secured Loans |
7.555 |
6.971 |
0.000 |
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2] Unsecured Loans |
14.764 |
8.441 |
0.000 |
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TOTAL BORROWING |
22.319 |
15.412 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
25.206 |
17.404 |
0.202 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4.599 |
4.067 |
0.000 |
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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 |
0.156 |
0.130 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
12.414
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16.327 |
0.001 |
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Sundry Debtors |
11.353
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3.406 |
0.000 |
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Cash & Bank Balances |
0.333
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0.553 |
0.019 |
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Other Current Assets |
4.582
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0.650 |
0.000 |
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Loans & Advances |
0.000
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0.000 |
0.000 |
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Total
Current Assets |
28.682
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20.936 |
0.02 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
8.386
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7.904 |
0.014 |
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Provisions |
0.000
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0.000 |
0.000 |
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Total
Current Liabilities |
8.386
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7.904 |
0.014 |
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Net Current Assets |
20.296
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13.032 |
0.006 |
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MISCELLANEOUS EXPENSES |
0.155 |
0.175 |
0.196 |
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TOTAL |
25.206 |
17.404 |
0.202 |
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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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75.275 |
3.403 |
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Other Income |
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0.000 |
0.080 |
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Total Income |
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75.275 |
3.483 |
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Profit/(Loss) Before Tax |
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0.754 |
(0.389) |
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Provision for Taxation |
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0.129 |
(0.1) |
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Profit/(Loss) After Tax |
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0.625 |
(0.289 |
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CIF Value |
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36.528 |
0.000 |
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Expenditures : |
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Depreciation & Amortization |
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0.000 |
0.130 |
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Other Expenditure |
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74.521 |
3.742 |
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Total Expenditure |
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74.521 |
3.872 |
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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 |
(%) |
0.83
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(8.29) |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
1.00
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(11.43) |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.26
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1.55 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.26
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19.52 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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2.90
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3.96 |
0.06 |
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Current Ratio (Current Asset/Current Liability) |
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3.42
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2.64 |
1.42 |
LOCAL AGENCY
FURTHER INFORMATION
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Corporate identity
number (CIN) Foreign company registration number |
U17226DL2003PTC119366 |
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Name of the
Company |
SALASAR CARPETS PRIVATE LIMITED |
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Address |
E-1/7, 3rd Floor, East Patel Nagar, Delhi – 110008, Delhi |
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This form is for |
Modification of charges |
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Type of Charge |
Immovable
Property, Book Debts, Movable Property (not being pledge) |
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Particulars of
the charge holder |
Punjab National
Bank Punjab Bagh, New
Delhi – 110026, Delhi E-Mail: ronorthdelhi@pnb.co.in |
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Amount secured by
the charge |
Rs.13.000
millions |
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Brief of the
principal terms and conditions |
Rate of Interest: BPLR +1.5%p.a. Terms of
Repayments The limit shall
be subject to renewal within one year Margin: Stock – 25% Book Debts – 40% Extent and
operation of the charge: The agreement
shall operate as continuing security for balance or balances to the bank and
all other monies due by the borrower |
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Date of
Instrument modifying charge |
24.10.2007 |
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
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Indian Rupees |
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US Dollar |
1 |
Rs.42.56 |
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UK Pound |
1 |
Rs.84.32 |
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Euro |
1 |
Rs.67.08 |
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 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
5 |
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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 |
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 |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES29 |
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TOTAL |
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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. |
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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