MIRA
INFORM REPORT
|
Report Date : |
11.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ALCOME PERFUMES
AND COSMETICS PRIVATE LIMITED |
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|
|
|
Formerly Known As : |
ALCOME OVERSEAS PRIVATE
LIMITED |
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Registered
Office : |
W-54, Greater Kailash, Part – 1, New Delhi – 110048 |
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Country : |
India |
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Financials (as
on) : |
31.03.2007 |
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Date of
Incorporation : |
16.07.1996 |
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Com. Reg. No.: |
55-80392 |
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CIN No.: [Company
Identification No.] |
U99999DL1996PTC080392 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELA07809E |
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Legal Form : |
Private limited
liability company |
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Line of Business : |
Manufacturer and
Dealers of Perfumes, Cosmetics and Toiletries. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit
Limit : |
USD 400000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a well
established and reputed company having satisfactory track . Directors are
reported as experienced, respectable and resourceful businessmen. Their trade
relations are fair. Business is active. Payments are usually correct and as
per commitments. The company can
be considered good for any normal business dealings at usual trade terms and
conditions. |
LOCATIONS
|
Registered
Office : |
W-54, Greater Kailash, Part – 1, New Delhi – 110048, India |
|
Tel. No.: |
91-11-25185000/ 41655801 |
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Fax No.: |
91-11-252475450/ 26567540 |
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Email : |
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Website : |
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Corporate
Office : |
20, 4th
Floor, Antriksh Bhawan, Kasturba Gandhi Marg, Connaught, Place, New Delhi –
110001, India |
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Tel. No.: |
91-11-56002671 |
DIRECTORS
|
Name : |
Mr. Hansraj
Manghani |
|
Designation : |
Director |
|
Address: |
B-187, 2nd
Floor, G K Part – 1, New Delhi – 110048, India |
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Date of Birth: |
30.07.1962 |
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Date of
Appointment: |
16.07.1996 |
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|
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Name : |
Mr. Narinder Manghai |
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Designation : |
Director |
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Address: |
B-187, 2nd Floor, G K Part – 1, New Delhi – 110048, India |
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Date of Birth: |
24.08.1966 |
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Date of
Appointment: |
16.07.1996 |
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Name : |
Mr. Deepak
Manghai |
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Designation : |
Director |
|
Address: |
B-187, 2nd
Floor, G K Part – 1, New Delhi – 110048, India |
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Date of Birth: |
08.12.1970 |
|
Date of
Appointment: |
03.04.2001 |
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|
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|
Name : |
Mr. Jawahar Lal
Manghani |
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Designation : |
Director |
|
Address: |
B-187, 2nd
Floor, G K Part – 1, New Delhi – 110048, India |
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Date of Birth: |
13.09.1939 |
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Date of
Appointment: |
15.11.2002 |
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|
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|
Name : |
Mrs. Veena
Manghani |
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Designation : |
Director |
|
Address: |
B-187, 2nd
Floor, G K Part – 1, New Delhi – 110048, India |
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Date of Birth: |
18.09.1944 |
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Date of
Appointment: |
15.09.2003 |
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|
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Name : |
Mrs. Priyanka
Manghani |
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Designation : |
Director |
|
Address: |
B-187, 2nd
Floor, G K Part – 1, New Delhi – 110048, India |
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Date of Birth: |
25.08.1967 |
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Date of Appointment: |
14.04.2003 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 30.09.2005)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
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|
Hansraj Manghani |
|
587834 |
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Narinder Manghani |
|
595834 |
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Deepak Manghani |
|
595834 |
|
Jawahar Lal Manghani |
|
571824 |
|
Veena Manghani |
|
29010 |
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Priyanka Manghani |
|
13000 |
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Divya Manghani |
|
5000 |
|
Harshana Manghani |
|
5000 |
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Total |
|
2403336 |
(As on 31.03.2007)
|
Category |
|
Percentage |
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|
|
|
|
Director or relatives of director |
|
100.00 |
BUSINESS DETAILS
|
Line of
Business : |
Manufacturer and
dealers of Perfumes, Cosmetics and Toiletries. |
GENERAL INFORMATION
|
Bankers : |
Ø
Bank of
India New Delhi
Overseas Branch, Vijaya Building, 17 Barakhamba Road, Connaught Place, New
Delhi, India Ø Union Bank of India Ø
ABM Amro
Bank Ø
ICICI Bank
Limited Ø
Mashreq Bank Ø
Kotak
Mahindra Bank Ø
Punjab
National Bank Ø
Bank Of
Baroda Ø
HDFC Bank
Limited Ø
Standard
Chartered Bank |
|
|
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Banking Relations : |
Satisfactory |
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Auditors : |
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|
Name : |
Jinendra Kumar
and Associates Chartered
Accountant |
|
Address : |
Flot No. 204, 1st
Floor, 2365, Chuna Mandi, Near imperial Cinema, Panar Ganj, New Delhi-
110055, India |
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Tel. No.: |
91-11-23530585 |
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Fax No.: |
91-11-27465303 |
CAPITAL STRUCTURE
Authorised
Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2500000 |
Equity Shares |
Rs.10/- each |
Rs.25.000
millions |
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Issued,
Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2403336 |
Equity Shares |
Rs.10/- each |
Rs.24.033 millions |
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|
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 |
24.033 |
5.883 |
5.883 |
|
|
2] Share Application Money |
0.420 |
8.150 |
2.724 |
|
|
3] Reserves & Surplus |
56.495 |
42.953 |
37.401 |
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|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH
|
80.948 |
56.986 |
46.008 |
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|
LOAN FUNDS |
|
|
|
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|
1] Secured Loans |
186.302 |
155.938 |
124.836 |
|
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2] Unsecured
Loans |
15.964 |
3.192 |
0.000 |
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TOTAL BORROWING
|
202.266 |
159.130 |
124.836 |
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DEFERRED TAX
LIABILITIES |
3.193 |
1.474 |
1.387 |
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TOTAL
|
286.407 |
217.590 |
172.231 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
|
106.378 |
52.047 |
38.630 |
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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
|
99.195 |
76.922 |
64.166 |
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Sundry Debtors
|
77.693 |
99.982 |
81.426 |
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Cash & Bank Balances
|
25.314 |
19.230 |
15.599 |
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Other Current Assets
|
0.000 |
0.000 |
0.000 |
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Loans & Advances
|
35.906 |
31.511 |
27.441 |
Total Current Assets
|
238.108 |
227.645 |
188.632 |
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Less : CURRENT LIABILITIES & PROVISIONS
|
|
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Current Liabilities
|
56.791 |
57.625 |
51.708 |
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Provisions
|
7.480 |
7.620 |
4.000 |
Total Current Liabilities
|
64.271 |
65.245 |
55.708 |
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Net Current Assets
|
173.837 |
162.400 |
132.924 |
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MISCELLANEOUS EXPENSES
|
6.192 |
3.143 |
0.677 |
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TOTAL
|
286.407 |
217.590 |
172.231 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
|
|
Sales Turnover |
|
247.900 |
323.470 |
|
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Other Income |
|
15.028 |
24.863 |
|
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Total Income |
|
262.928 |
348.333 |
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Profit/(Loss) Before Tax |
|
5.402 |
9.259 |
|
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Provision for Taxation |
|
(8.140) |
3.707 |
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Profit/(Loss) After Tax |
|
13.542 |
5.552 |
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Expenditures : |
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Financial Charges |
|
16.041 |
12.173 |
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Depreciation & Amortization |
|
4.096 |
6.570 |
|
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Other Expenditure |
|
237.389 |
320.331 |
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Total Expenditure |
|
257.526 |
339.074 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
PAT / Total Income
|
(%)
|
5.15 |
1.59 |
NA |
|
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|
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Net Profit Margin
(PBT/Sales) |
(%) |
2.18 |
2.86 |
NA |
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Return on Total Assets
(PBT/Total
Assets} |
(%) |
1.57 |
3.31 |
NA |
|
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Return on Investment (ROI)
(PBT/Networth) |
|
0.07 |
0.16 |
NA |
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|
Debt Equity Ratio
(Total
Liability/Networth) |
|
3.29 |
3.94 |
3.92 |
|
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|
|
|
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Current Ratio
(Current
Asset/Current Liability) |
|
3.70 |
0.42 |
3.39 |
LOCAL AGENCY
FURTHER INFORMATION
Note:
The SC was
originally incorporated on July 16, 1996 as “Alcome Overseas Private Limited”
and the name of the SC has changed its name to
“Alcome Perfumes and Cosetics Private Limited” with effect from
December6, 2007 as per registry.
Fixed Assets
Ø Factory Land and Building
Ø Plant and Machinery
Ø Air Conditioners
Ø Computer
Ø Compressor
Ø Furniture and Fixture
Ø Generator
Ø Office Equipments
Ø S. S. Tank
Ø Vehicles
Ø Fax Machine
Ø Crates
Ø Dies And Moulds
Ø C. C. T. V.
Ø Telephone Instrument
Ø Transformer
Ø Project Under Consideration
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.48.72 |
|
UK Pound |
1 |
Rs.82.17 |
|
Euro |
1 |
Rs.65.90 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
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 |
|
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 |
|