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MIRA
INFORM REPORT
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Report Date : |
07.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
MUNJRAL BROTHERS (DISTRIBUTION) PRIVATE LIMITED |
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Formerly Known As : |
MUNJRAL BROTHERS PRIVATE LIMITED |
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Registered Office : |
356, Pratapganj Industrial Area, New Delhi – 110 092 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
15.09.2003 |
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Com. Reg. No.: |
122247 |
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CIN No.: [Company
Identification No.] |
US1909DL2003PTC122247 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Distributor, Exporter, Importer of Wines and Liquors |
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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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an establish company having moderate track. The company has
some accumulated losses. Trade relations are fair. Payments are reported as
slow at times The company can be considered for small to mediocre business dealings
with slight caution. |
INFORMATION PARTED
BY
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Name : |
Mr. Harshal Munjral |
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Designation : |
Managing Director |
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Contact No.: |
91-9810044698 |
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Date : |
25.04.2008 |
LOCATIONS
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Registered Office : |
356, Pratapganj Industrial Area, New Delhi – 110 092 |
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Tel. No.: |
91-11-22169289/90 |
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Mobile No.: |
91-98190044698 |
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Fax No.: |
91-11-22169288 |
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E-Mail : |
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Website : |
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Area : |
500 sq ft |
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Location : |
Owned |
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Godown : |
57, Railway Link Road, Amritsar, Punjab |
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Area : |
2000 sq ft |
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Location : |
Rented |
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Branches : |
N-001 Tex Centre, Narain Plaza, Chandivili, Sakinaka, Mumbai-72 |
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Tel. No.: |
91-22-28579656/57 |
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Fax No.: |
91-22-28579658 |
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Area : |
3000 sq ft |
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Location : |
Rented |
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Branches : |
70 Railway Link Road, Amritsar, Punjab |
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Tel. No.: |
91-183-2225218 |
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Area : |
700 sq ft |
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Location : |
Rented |
DIRECTORS
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Name : |
Mr. Harshal Singh Munjral |
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Designation : |
Director |
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Mobile : |
91-9810044698 |
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Qualification : |
53 Years |
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Name : |
Mr. Harminder Singh Munjral |
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Designation : |
Director |
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Mobile : |
91-987129320 |
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Date of Birth/Age : |
55 Years |
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Name : |
Mr. Sumit Munjral |
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Designation : |
Director |
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Address: |
E-86, Sector-39, Noida-201301, Uttar Pradesh, India |
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Date of Birth/Age : |
09.12.1977 |
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Date of Appointment: |
15.09.2003 |
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Name : |
Mr. Raideep Munjral |
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Designation : |
Director |
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Address: |
E-86, Sector-39, Noida-201301, Uttar Pradesh, India |
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Date of Birth/Age : |
19.11.1981 |
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Date of Appointment: |
15.09.2003 |
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Name : |
Mrs. Satinder Munjral |
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Designation : |
Director |
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Director: |
E-86, Sector-39, Noida-201301, Uttar Pradesh, India |
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Date of Birth/Age : |
03.10.1956 |
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Date of Appointment: |
15.09.2003 |
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Name : |
Mrs. Sweety Munjral |
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Designation : |
Director |
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Address: |
E-86, Sector-39, Noida-201301, Uttar Pradesh, India |
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Date of Birth/Age : |
07.10.1957 |
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Date of Appointment: |
15.09.2003 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
As on 30.09.2005
|
Names of Shareholders |
|
No. of Shares |
|
Harshan Singh Munjral |
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2000 |
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Satinder Munjral |
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2000 |
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Harminder Singh Munjral |
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2000 |
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Sweety Mumjral |
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2000 |
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Sumit Munjral |
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1990 |
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Raideep Munjral |
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1980 |
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Brinder Pal Singh |
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10 |
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Smirti Dhall |
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10 |
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Amandeep Singh |
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10 |
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Total |
|
12000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2007
|
Category |
|
Percentage |
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Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Distributor, Exporter, Importer of Wines and Liquors |
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Products : |
Wines and Liquors |
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Exports : |
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Products : |
All Products (Wine and Liquors) |
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Countries : |
Sri lanka |
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Imports : |
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Products : |
Wines and Liquors |
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Countries : |
·
France ·
Italy ·
Spain ·
Chile ·
Dubai |
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Terms : |
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Selling : |
Credit (90/120 Days) |
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Purchasing : |
L/C and T/T |
GENERAL
INFORMATION
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Customers : |
·
Wholesalers ·
Retailers ·
Hotel / Clubs |
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No. of Employees : |
Around 50 |
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Bankers : |
·
Punjab National Bank, Daryaganj –New Delhi, India ·
Citi Bank NA, Punjabi Bagh –New Delhi, India ·
Bank of India, Sakinaka Branch, Mumbai, India |
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Facilities : |
C/C – Rs. 5.000 Millions from its banks |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Gautam Sehgal and company Chartered Accountant |
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Address : |
399, 1st Floor, Chandni Chowk, Delhi-110006, India |
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E Mail: |
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Associates/Subsidiaries : |
Ghaie Mall and
Sons Established Year
: 1910 Address : 356, Patparganj
Industrial Area, New Delhi – 110092 Activities : Distributor,
Importer and Exporter of Wine and Liquor |
CAPITAL STRUCTURE
As on 29.09.2007
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50,000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
12,000 |
Equity Shares |
Rs. 10/-
each |
Rs. 0.120
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
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 |
0.120 |
0.120 |
0.120 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
[0.292] |
[0.763] |
[1.025] |
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NETWORTH |
[0.172] |
[0.643] |
[0.905] |
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LOAN FUNDS |
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1] Secured Loans |
0.369 |
0.886 |
0.000 |
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2] Unsecured Loans |
3.974 |
8.514 |
8.470 |
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TOTAL BORROWING |
4.343 |
9.400 |
8.470 |
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DEFERRED TAX LIABILITIES |
0.038 |
0.069 |
0.038 |
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TOTAL |
4.209 |
8.826 |
7.603 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.359 |
1.819 |
1.030 |
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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 |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
8.459
|
17.174 |
11.720 |
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Sundry Debtors |
13.539
|
19.804 |
3.043 |
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Cash & Bank Balances |
0.492
|
0.594 |
1.476 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
4.944
|
4.669 |
2.464 |
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Total
Current Assets |
27.434
|
42.241 |
18.703 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
24.084
|
32.148 |
11.938 |
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Provisions |
0.507
|
3.100 |
0.213 |
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Total
Current Liabilities |
24.591
|
35.248 |
12.151 |
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Net Current Assets |
2.843
|
6.993 |
6.552 |
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MISCELLANEOUS EXPENSES |
0.007 |
0.014 |
0.021 |
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TOTAL |
4.209 |
8.826 |
7.603 |
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PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Sales Turnover |
|
102.758 |
105.065 |
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Other Income |
|
3.279 |
3.546 |
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Total Income |
|
106.037 |
108.611 |
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Profit/(Loss) Before Tax |
|
1.309 |
1.122 |
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Provision for Taxation |
|
0.838 |
0.860 |
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Profit/(Loss) After Tax |
|
0.471 |
0.262 |
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Imports : |
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Import Value |
|
1.139 |
24.268 |
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Expenditures : |
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Increase/(Decrease) in Finished Goods |
|
8.715 |
[5.454] |
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Financial Charges |
|
1.177 |
1.239 |
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Depreciation & Amortization |
|
0.529 |
0.497 |
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Other Expenditure |
|
94.307 |
111.207 |
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Total Expenditure |
|
104.728 |
107.489 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
0.44
|
0.25 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
1.27
|
1.06 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.55
|
2.55 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
|
[7.61]
|
[1.74] |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
|
[168.22]
|
[33.52] |
[22.79] |
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Current Ratio (Current Asset/Current Liability) |
|
1.12
|
1.19 |
1.54 |
LOCAL AGENCY
FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
Name of the company |
MUNJRAL BROTHERS (DISTRIBUTION) PRIVATE LIMITED |
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Presented By |
Punjab National
Bank |
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1) Date and description of instrument creating the change |
26.10.2005
General Counter Indemnity Hypothecation and Current assets, Hypothecation of
Movable assets forming part of fixed block work assets. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs. 2.000
Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Counter Indemnity
of the Company, Hypothecation of
Current Assets, Hypothecation of Movable assets forming part of fixed block
assets. |
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4) Gist of the terms and conditions and extent and operation of the charge. |
The above is to
secure L.G Unit Sanctioned to the company. Commission as per
bank Guidelines |
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5) Name and Address and description of the person entitled to the charge. |
Punjab National Bank, Daryaganj –New Delhi |
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6) Date and brief description of instrument modifying the charge |
NA |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
NA |
AS PER WEBSITE
Profile:
About
Munjral Brothers
Subject is a family owned company. They have
been in the business of wines and spirits since 1910.
Started in Amritsar (Punjab), they now distribute
world-renowned brands in New Delhi, Mumbai and Punjab through the established
infrastructure which includes company owned warehouses, a fleet of delivery
trucks, own offices and a trained and knowledgeable sales and marketing staff.
Over the past years they have worked with all leading
Indian and International liquor companies.
They remain focused at building brands
through the distribution network which is built on personal relationship with
all the customers (On and Off Trade).
PERNOD
RICARD
Pernod Ricard today is the second operator
worldwide in wines and spirits.With brands like Chivas Regal, Martell Cognac,
Jacob’s Creek, Beefeater and Kahlua to name a few. In India their portfolio has
some strong brands like the Royal Stag, Blenders Pride, Imperial Blue and Fuel
vodka.
CARLSBERG
Carlsberg is one of the largest brewery
companies in the world, being present in about 50 countries. The headquarters
are in Valby in Copenhagen, Denmark.
The company's main brand is Carlsberg Beer, but it
also brews Tuborg as well as local beers.
The company was founded in 1847 by J. C. Jacobsen
after the name of his son Carl (Carl Jacobsen).
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.47.46 |
|
UK Pound |
1 |
Rs.83.37 |
|
Euro |
1 |
Rs.64.46 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
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 |
|