MIRA
INFORM REPORT
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Report Date : |
17.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
INTEGRATED BATTERIES INDIA PRIVATE LIMITED |
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Registered Office : |
C-10, Gurunanak Pura, Laxmi Nagar, New Delhi – 110 092, Delhi |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
08.12.2003 |
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Com. Reg. No.: |
55-123402 |
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CIN No.: [Company
Identification No.] |
U74999DL2003PTC123402 |
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IEC No.: |
0596013418 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELI05113D |
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PAN No.: [Permanent
Account No.] |
AABCI1947G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Distributor, Importer and Exporter of Panasonic Batteries |
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 27000 |
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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. Trade relations are fair. Business is active. Payments are reported as usually made as per
commitments. The Company can be considered good for normal business dealings. |
INFORMATION PARTED
BY
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Name : |
Mr. S. K. Mahajan |
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Designation : |
Director |
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Contact No.: |
91-9810078597 |
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Date : |
16.10.2008 |
LOCATIONS
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Registered Office : |
C-10, Gurunanak Pura, Laxmi Nagar, New Delhi – 110 092, Delhi, India |
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Tel. No.: |
91-11-22513245/ 22458673 |
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Mobile No.: |
91-9810078597 |
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Fax No.: |
91-11-22464874 |
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E-Mail : |
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Website : |
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Area : |
1000 sq yards |
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Location : |
Owned |
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Branches 1 : |
2977/23, Ganesh Nagar, Ludhiana, Punjab, India |
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Mobile No.: |
91-9417369879 |
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Area : |
300 sq ft |
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Location : |
Owned |
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Branches 2 : |
Located at : Ghaziabad |
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Mobile No.: |
91-93500442999 |
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Location : |
Rented |
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Branches 2 : |
31, DDA Shoping Centre, Nirman Vihar, New Delhi – 110 092, Delhi,
India |
DIRECTORS
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Name : |
Mr. Suresh Kumar Mahajan |
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Designation : |
Director |
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Address : |
A-60, Nirman Vihar, Delhi 110 092 |
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Date of Birth/Age : |
28.03.1954 |
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E-Mail : |
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Date of Appointment : |
08.12.2003 |
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Name : |
Mrs. Rajni Mahajan |
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Designation : |
Director |
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Address : |
A-60, Nirman Vihar, Delhi 110 092 |
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Date of Birth/Age : |
03.11.1960 |
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E-Mail : |
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Date of Appointment : |
08.12.2003 |
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Name : |
Mr. Abhinav Mahajan |
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Designation : |
Director |
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Address : |
A-60, Nirman Vihar, Delhi 110 092 |
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Date of Birth/Age : |
20.08.1984 |
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E-Mail : |
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Date of Appointment : |
08.12.2003 |
KEY EXECUTIVES
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Name : |
M L Sharma and Compny |
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Designation : |
Company Secretary |
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Address : |
C-6/166, Yamuna Vihar, New Delhi – 110 053, Delhi, India |
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Tel No : |
91-11-55725717 |
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Mobile No : |
91-9213178337 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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Equity Shares |
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Mr. Suresh Kumar Mahajan |
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9500 |
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Mrs. Rajni Mahajan |
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300 |
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Mr. Abhinav Mahajan |
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200 |
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Total |
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10000 |
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Preference Shares |
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Mr. Suresh Kumar Mahajan |
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5000 |
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Total |
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5000 |
Equity share breakup (percentage of total equity)
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Category |
Percentage |
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Directors or relatives of directors |
100 |
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Total |
100 |
BUSINESS DETAILS
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Line of Business : |
Distributor, Importer and Exporter of Panasonic Batteries |
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Exports : |
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Products : |
Batteries |
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Countries : |
Nigeria |
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Imports : |
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Products : |
Batteries |
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Countries : |
China Singapore |
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Terms : |
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Selling : |
T/T |
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Purchasing : |
T/T |
GENERAL
INFORMATION
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Customers : |
Corporate : SIEMENS, LARSEN & TOUBRO, HERO GROUP, CADBURY, NESTLE MNC/IT : HUGHES SOFTWARE, XEROX, HCL, BECHTEL, GLOBE SPAN ITES/BPOs : EXL, VCUSTOMER, TECHNOVATE, IIS, HCL, SPECRAMIND TELECOM : TATA, RELIANCE, BHARTI GROUP, SHYAM TELECOM, ALCATEL, MTNL HOSPITALS : RAJIV GANDHI, APOLLO, AIIMS, ESCORTS, BATRA, PGI, DIWAN CHAND BANKS : CBI, BANK OF INDIA, MAHARASHTRA, SBI, INDIAN, CORPORATION, CANARA FOREIGN BANKS : CITI BANK, HSBC, BARCLAYS, STANDARD CHARTERED, GRINDLAYS UPS MERS : EMERSON NETWORK, APLAB, NUMERIC, HIREL. DB POWER, ENERTECH, APC HOTELS : OBEROI GROUP, LE MERIDIEN, INTER CONTINENTAL, TAJ HOTEL AIRLINES : JET AIRWAYS. SAHARA. INDIAN AIRLINES, KLM, SPICEJET , LUFTHANSA OIL SECTOR : IOCL, BPL, RELIANCE PETROLEUM NEWS PAPER : INDIA TODAY,
HINDUSTAN TIMES, TIMES OF INDIA, RASHTRIYA SAHARA |
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No. of Employees : |
15 |
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Bankers : |
Corporation Bank, M-41, Connaghat Circus, New Delhi |
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Facilities : |
Cash and Credit (Credit Rs.14.000 Millions) |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Muukesh KR. Gupta and Associates |
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Address : |
208-210, C A Chamber, 18/12, Wea Karol Bagh, New Delhi – 110 005,
Delhi, India |
CAPITAL STRUCTURE
(As On 28.09.2007)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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15000 |
Equity Shares |
Rs.100/- each |
Rs.1.500 Millions |
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5000 |
Preference Shares |
Rs.100/- each |
Rs.0.500 Million |
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Total |
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Rs.2.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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8300 |
Equity Shares |
Rs.100/- each |
Rs.0.830
Million |
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5000 |
Preference Shares |
Rs.100/- each |
Rs.0.500
Million |
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Total |
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Rs.1.330 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 |
1.330 |
1.330 |
1.330 |
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2] Share Application Money |
2.764 |
2.764 |
2.661 |
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3] Reserves & Surplus |
1.392 |
0.720 |
0.376 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
5.486 |
4.814 |
4.367 |
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LOAN FUNDS |
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1] Secured Loans |
3.968 |
2.236 |
0.541 |
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2] Unsecured Loans |
0.135 |
0.000 |
0.000 |
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TOTAL BORROWING |
4.103 |
2.236 |
0.541 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.036 |
0.005 |
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TOTAL |
9.589 |
7.086 |
4.913 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.585 |
0.672 |
0.836 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.647 |
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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 |
1.911
|
3.020 |
0.687 |
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Sundry Debtors |
4.574
|
3.101 |
2.090 |
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Cash & Bank Balances |
1.930
|
0.180 |
1.033 |
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Other Current Assets |
0.487
|
0.004 |
0.006 |
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Loans & Advances |
1.340
|
1.646 |
2.118 |
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Total
Current Assets |
10.242
|
7.951 |
5.934 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
0.841
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1.314 |
2.284 |
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Provisions |
0.424
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0.265 |
0.275 |
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Total
Current Liabilities |
1.265
|
1.579 |
2.559 |
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Net Current Assets |
8.977
|
6.372 |
3.375 |
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MISCELLANEOUS EXPENSES |
0.027 |
0.042 |
0.055 |
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TOTAL |
9.589 |
7.086 |
4.913 |
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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 |
40.996 |
32.208 |
23.016 |
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Other Income |
0.000 |
0.000 |
0.000 |
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Total Income |
40.996 |
32.208 |
23.016 |
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Profit/(Loss) Before Tax |
1.079 |
0.697 |
0.657 |
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Provision for Taxation |
0.406 |
0.354 |
0.280 |
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Profit/(Loss) After Tax |
0.673 |
0.343 |
0.377 |
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Expenditures : |
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Interest |
0.416 |
0.284 |
0.000 |
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Other Expenditure |
39.501 |
31.227 |
22.359 |
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Total Expenditure |
39.917 |
31.511 |
22.359 |
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Particulars |
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31.03.2008 |
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Sales Turnover |
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50.000 |
Expected Sales (2008-09) : Rs.50.000 Millions
KEY RATIOS
|
PARTICULARS |
|
31.03.2007 |
31.03.2006 |
31.03.2005 |
|
PAT / Total Income |
(%) |
1.64
|
1.06 |
1.63 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.63
|
2.16 |
2.85 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
9.96
|
8.08 |
9.70 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.14 |
0.15 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.97
|
0.79 |
0.70 |
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Current Ratio (Current Asset/Current Liability) |
|
8.09
|
5.03 |
2.31 |
LOCAL AGENCY FURTHER
INFORMATION
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Additional Requirement of Indiamart for Trust-Seal |
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Excise Registration No.: AABCI 1947 G XM001 |
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VAT / TIN :07750154532 |
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IEC Code :0596013418 |
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PAN / TAN :AABCI1947G |
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Bank Name :Corporation Bank |
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Bank Address :Connaught Circus, New Delhi |
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Bank A/c. No.:CC-050003 |
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Account Since :6 Years |
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In case of any affiliations / memberships / certifications : |
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Name :All India Batteries Association, So CHAM |
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Form 8
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This form is for |
Modification of
charge |
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Charge
identification number of the modified
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80036664 |
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Corporate
identity number of the company |
U74999DL2003PTC123402 |
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Name of the
company |
Integrated
Batteries India Private Limited |
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Address of the
registered office or of the principal place of business in India of the company |
C-10, Gurunanak Pura, Laxmi Nagar, New Delhi – 110 092, Delhi, India |
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Type of charge |
Book Debts Movable Property |
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Particular of
charge holder |
Corporation Bank M-41, Connaught Circus Branch, New Delhi – 110 001, Delhi, India |
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Nature of
description of the instrument creating or modifying the charge |
First Supplementary
common deed of Hypothecation of Movables/ Assets/ Debts. |
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Date of
instrument Creating the charge |
24.08.2007 |
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Amount secured by
the charge |
Rs.9.900 Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit
(Hypothecation Stock and Book Debts) : Rate of Interest shall be 13.25% p.a
over and above the (COBAR), which is 13.25% p.a as at present Import Letter of
Credit : Commission at our Bank’s Prescribed Rate. Terms of
Repayment As per Sanction Margin As per Sanction Extent and
Operation of the charge As per Sanction Others Not Available |
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Short particulars
of the property charged |
First charge by
way of Hypothecation of entire inventory consisting of raw materials, work in
progress, finished goods store, spares and book debts/ current assets of the
company (Present and Future) along with such goods in the course of transit. |
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Date of latest
modification prior to the present modification |
26.05.2005 |
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Particulars of
the present modification |
The total limit
stands enhanced from Rs.6.400 Millions to Rs.9.900 Millions |
Trade Reference
- Siemans
- Larsen and
Toubro
- HCL
- TATA
- Reliance
As Per Websites
Subject, established in 1992 with the aim of serving in Power
Conditioning Equipments and process industry has grown to revenues exceeding
US$ 2 million. Subject, is a group of engineers pioneer in selling batteries
and UPS Systems. this group of engineers is lead by Mr. S. K. Mahajan, who is
the founder of this company. He is an engineering graduate with Post Graduate
Qualification in Marketing Management. Mr. Mahajan had founded this company
having an aim of providing not only the product but integrate the total system
of purchasing and selling based on customer requirements.
Several customers from all over the country use their services to get
effective solutions for their needs of Power Condition Equipment. Their team
works closely with the customers in understanding their requirements and
offering solutions for increased productivity and efficiency. They continuously
engage with the customer for the feedback and improving their services on
ongoing basis.
Subject is an importer / Distributor of Panasonic Batteries. During 10
years, subject has developed a name in India from scratch.
Subject; arrange Manufacturer Test Certificate for batteries manufactured. This
is the only Company which has its batch number embossed on each and every
battery specifying date / month / year of manufacturing.
Subject believes in satisfying customer needs and requirements. A proper
list of requirements is drafted, space requirement studied, general
availability of power backed by DG sets studied and then only batteries sizing
is suggested. This helps in longevity of the battery life. They are the
distributor appointed by Panasonic Batteries brand for the entire North India.
They directly import Panasonic Sealed Maintenance Free Batteries from
manufacturer works and being the first source, make available the product at
competitive prices. They not only supply the batteries but get the batteries
installed as per customer requirements. Subject get the tailor made angle iron
stands prepared according to the need of customers and install the batteries.
Panasonic OEM
Batteries
A leading OEM supplier of primary and secondary batteries, Panasonic
satisfies the many needs of the market with one of the broadest lines of
battery products in the industry. Panasonic OEM Batteries is a part of
Panasonic Corporation of North America (PNA) and is the distribution arm of
Panasonic Battery Corporation of America (PBA). PBA oversees all North American
battery manufacturing operations, and Matsushita Battery Industrial Company,
Limited. (MBI) of Japan.
MBI is one of the world's leading full-range battery research and
manufacturing companies with 25 factories in 16 countries, including four in
North America. North America sites include a state-of-the-art alkaline
manufacturing facility (PPBA) and a lithium battery factory (PBA-LD) in
Columbus, GA, and a Battery Pack Factory (PBBC) in Tijuana, Mexico.
Battery Experience
Spanning 60 Years
For over 60 years, Matsushita Battery Industrial Company., Limited. (MBI)
has been providing the world with a dependable power supply that offers maximum
performance. Panasonic batteries are ideal for use in consumer, commercial and
industrial applications throughout a wide variety of product categories.
From developing a bullet-shaped, battery-powered lamp in 1923 and
producing their first dry-cell batteries in 1931, to becoming one of the
world's leading full-range battery manufacturers, Matsushita Battery has
consistently offered high-quality, reliable batteries that meet the energy
needs of various electronics equipment.
Compact, lightweight and high-capacity batteries are, and will continue
to be, a driving force of the portable age. Batteries which power electric
vehicles are destined to become an important technology in the 21st century.
Matsushita Battery Industrial Company Limited. Products include:
Manganese Batteries, Alkaline Batteries, Lithium Cylindrical, and Coin-Type
Batteries, Ni-Cd Batteries, Nickel Metal Hydride Batteries, Lithium Secondary
Batteries, Lithium Ion Batteries, Automotive Batteries, VRLA Storage Batteries,
Battery Management Systems, Variety of Battery Appliances and Material Products
such as Zinc and DI Cans.
MBI employs a total of 18,000 workers in Japan and around the globe. The
President of MBI is Tohru Ishida. Matsushita Electrical Industrial Company,
Limited.'s shares are listed on Tokyo, Amsterdam, Dusseldorf, Frankfurt, New
York, Pacific and Paris stock exchanges.
TECHNICAL FEATURES
- High quality
and reliability
- Exceptional
deep discharge recovery
- No corrosive
gas generation
- Long service
life
- Quick
chargeability
- High power
density
- Maintenance-free
operation
APPLICATIONS
Panasonic's tough Valve Regulated Lead Acid rechargeable batteries are
designed to provide outstanding performance in withstanding overcharge, over
discharge, and resisting vibration and shock. Compact, these batteries save
installation space, while providing full and reliable power. The use of special
sealing epoxies, tongue and groove case and cover construction, and
long-sealing paths for posts and connectors, assures that the Valve Regulated
Lead Acid battery will offer exceptional leak resistance, and allows them to be
used in any position.
A partial list of common applications includes, but is not limited to,
standby or primary power for:
- Alarm Systems
- Cable
Television
- Communications
Equipment
- Control
Equipment
- Computers
- Electronic
Cash Registers
- Electronic
Test Equipment
- Electronic
Powered Wheelchairs
- Emergency
Lighting Systems
- Fire and
Security Systems
- Geophysical
Equipment
- Marine
Equipment
- Medical
Equipment
- Micro
Processor Based office Machines
- Portable Cine
and Video Lights
- Power Tools
- Solar Powered
Systems
- Telecommunications
Systems
- Television
and Video Recorders
- Toys
- Uninterruptible
Power Supplies
- Vending
Machines
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.48.86 |
|
UK Pound |
1 |
Rs.84.22 |
|
Euro |
1 |
Rs.65.51 |
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 |
NO |
|
--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 |
|