MIRA
INFORM REPORT
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Report Date : |
23.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
BOOM BUYING PRIVATE LIMITED |
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Registered Office : |
E-986, C R Park, |
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Country : |
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Financials (as on) : |
31.03.2008 |
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Date of Incorporation : |
24.09.2003 |
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Com. Reg. No.: |
55-122390 |
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CIN No.: [Company
Identification No.] |
U51909DL2003PTC122390 |
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IEC No: |
0503074713 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELB10200B |
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PAN No.: [Permanent
Account No.] |
AACCB3057F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Exporters and Importers of Home Furnishing, Fashion and Agro Products |
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/normal. |
Small |
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Maximum Credit Limit : |
USD 4000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively small company in its field. Its profitability
is low. Financial position is weak. No complaints have been heard from the market
sources. The company can be considered for small to mediocre business
dealings. |
LOCATIONS
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Registered Office : |
E-986, C R Park, New Delhi:110019, India |
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Tel. No.: |
91-11-40560612/ 40560613/ 40560614/ 40560615 |
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Mobile No.: |
91-9350102230 / 9312064572/ 9350529894 |
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Fax No.: |
91-11-40560616/ 40560613 |
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E-Mail : |
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Website : |
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Area : |
2500 |
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Locations : |
Owned |
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Branches : |
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DIRECTORS
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Name : |
Mr. Rakesh Singh |
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Designation : |
Managing Director |
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Address: |
Prince Road, Bhoora KA Chauraha, Moradabad – 244001, Uttar Pradesh,
India |
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Date of Birth/Age : |
10.07.1974 |
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Qualification : |
B. Technical |
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Date of Appointment : |
24.09.2003 |
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Name : |
Ms. Shyamo Singh |
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Designation : |
Director |
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Address: |
House No.173, Moh Asalatpura, Moradabad – 244001, Uttar Pradesh, India |
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Date of Birth/Age : |
10.04.1952 |
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Qualifications : |
HSC |
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Date of Appointment : |
10.12.2003 |
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Name : |
Mrs. Usha Singh |
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Designation : |
Director |
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Address: |
B-2/322 Sector A, Sitapur Road, Jankipuram, Lucknow – 226001, Uttar
Pradesh, India |
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Date of Birth/Age : |
15.01.1972 |
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Date of Appointment : |
10.12.2003 |
MAJOR SHAREHOLDERS
(As on 28.06.2008)
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Names of Shareholders |
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No. of Shares |
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Rakesh singh |
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9800 |
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Shyamo Devi |
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200 |
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Total |
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10000 |
(As on 31.03.2008)
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Category |
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Percentage
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Directors or relatives of director |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Exporters and Importers of Home Furnishing, Fashion and Agro Products |
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Products : |
· Chemicals · Construction · Energy · Food & Agro · Furniture · Garments · Herbs & Derivatives · Machines & Tools · Minerals & Metals · Pharma |
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Exports : |
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Countries : |
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Imports : |
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Countries : |
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Terms : |
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Selling : |
L/C and T/T |
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Purchasing : |
L/C and D/D - Local |
GENERAL
INFORMATION
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Customers : |
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No. of Employees : |
35 |
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Bankers : |
Greater Kailash Branch, New Delhi, India
Connaught Palace, New Delhi, India
Okhla Industrial Estate Branch
Okhla Industrial Estate Branch
Connaught Palace, New Delhi, India |
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Facilities : |
L/C – Rs.8.000 Millions from Corporation Bank CC – Rs.20.000 Millions from State Bank of India |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Hemant Maheshwari and Company Chartered Accountant |
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Address : |
C-49/611, Gali No.03, Ganesh Nagar, Shakarpur, New Delhi – 110092,
India |
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Memberships : |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity shares |
Rs.10/-each |
Rs.0.100 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity shares |
Rs.10/- each |
Rs.0.100
Million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.617 |
0.009 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
(0.029) |
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NETWORTH |
0.717 |
0.109 |
0.071 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
1.264 |
0.097 |
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TOTAL BORROWING |
0.000 |
1.264 |
0.097 |
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DEFERRED TAX LIABILITIES |
0.055 |
0.041 |
0.000 |
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TOTAL |
0.772 |
1.414 |
0.168 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.837 |
0.415 |
0.036 |
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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 |
0.017 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
1.807 |
0.065 |
0.065 |
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Sundry Debtors |
9.133 |
2.253 |
0.000 |
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Cash & Bank Balances |
1.070 |
0.376 |
1.664 |
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Other Current Assets |
0.000 |
0.000 |
0.102 |
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Loans & Advances |
4.454 |
2.417 |
4.302 |
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Total
Current Assets |
16.464 |
5.111 |
6.133 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
17.299 |
4.038 |
6.005 |
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Provisions |
0.239 |
0.083 |
0.023 |
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Total
Current Liabilities |
17.538 |
4.121 |
6.028 |
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Net Current Assets |
(1.074) |
0.990 |
0.105 |
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MISCELLANEOUS EXPENSES |
0.009 |
0.009 |
0.010 |
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TOTAL |
0.772 |
1.414 |
0.168 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2008 |
31.03.2007 |
31.03.2006 |
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Sales Turnover |
44.765 |
4.907 |
0.833 |
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Other Income |
2.533 |
0.466 |
0.227 |
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Total Income |
46.765 |
5.373 |
1.060 |
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Profit/(Loss) Before Tax |
0.854 |
0.186 |
0.013 |
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Provision for Taxation |
0.246 |
0.148 |
0.022 |
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Profit/(Loss) After Tax |
0.608 |
0.038 |
0.011 |
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Expenditures : |
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Purchases and Direct Expenses |
44.140 |
3.982 |
0.000 |
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Administrative Expenses |
2.112 |
0.666 |
0.000 |
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Establishment Expenses |
0.680 |
0.271 |
0.000 |
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Director Remuneration |
0.408 |
0.240 |
0.000 |
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Preliminary Expenses |
0.002 |
0.002 |
0.000 |
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Financial Charges |
0.000 |
0.000 |
0.020 |
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Depreciation & Amortization |
0.311 |
0.027 |
0.023 |
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Other Expenditure |
(0.007) |
0.007 |
1.004 |
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Total Expenditure |
47.647 |
5.195 |
1.047 |
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KEY RATIOS
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PARTICULARS |
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31.03.2008 |
31.03.2007 |
31.03.2006 |
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PAT / Total Income |
(%) |
1.30
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0.71 |
1.04
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Net Profit Margin (PBT/Sales) |
(%) |
1.91
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3.79 |
1.56
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.67
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3.37 |
0.21
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Return on Investment (ROI) (PBT/Networth) |
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1.19
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1.71 |
0.18
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Debt Equity Ratio (Total Liability/Networth) |
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24.46 |
49.40 |
86.27 |
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Current Ratio (Current Asset/Current Liability) |
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0.94 |
1.24 |
1.02 |
LOCAL AGENCY
FURTHER INFORMATION
Note:
The Registered Office of the company has been shifted from B-55-A Lower Ground
Floor, Kalkaji, New Delhi -110019, India to the present address w.e.f.
09.04.2007.
Operations:
This was the fifth year of operation of the company and the company has
earned a net profit of Rs.0.607 Million after providing for depreciation at
Rs.0.310 Millions
Trade Reference:
- UCC Trading
Company, Hong Kong
- Bipra
Overseas Trading Private Limited
Fixed Assets:
- Computers
Hardware
- Computer
Software
- Mobile
Handsets
- Car-Ford Ikon
- Office
Premises
- Office
Equipment
- Furniture and
Fixture
Website Details:
Profile:
Subject is the Buying House of Handicrafts, Home Furnishing,
Garments, Gems & Jewellery & other kinds of Manufactured &
processed products from India. The methodology in this gamut is based on
synergy & co-operation. The Company AIM at Service for satisfaction and to
achieve the same they join hands with Companies/Firms/GO/NGO/Individuals for
the headway of Global trust & entrepreneurship. They stand for financial
transparency, managerial accountability & thereby actualizing strength of
all associates. The milieu in which they are working is multi faceted and
therefore there is a need of integrating cultures, traditions & values that
relates to the dimension of thoughts and behavior, guided by standards and principles
of right conducts. They are here on behalf of their foreign associates to look
after their business & to provide them the best services up to the utmost
satisfaction.
They all are working in the global market and getting
mileage from every nook of the Globe. Getting the products from the cross over
and endorsing them in the required market is hob job & exorbitant also.
There are some well known hindrances like quality, timely delivery, pricing,
government policies, geographical limitations, language barriers etc which may
pose unnecessary glass ceilings to a foreign entity. They at the Boom Buying
team take the onus to keep away from all obstacles that come across. They have
unexceptionally dedicated team of thespians those who have incredible ideas about
the different countries craftsmen skill & potential to develop the ideas
into realities. The difference of north-south, east-west and haves and have
nots is merely a lack of communication and commuting problems. Now the global
pattern has been changed & the world is economic policies are bolstering
the unification of the world trade and company are acting as a catalyst to
fasten the pace.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.29 |
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UK Pound |
1 |
Rs.80.40 |
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Euro |
1 |
Rs.63.35 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
4 |
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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 |
NO |
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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 |
YES |
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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 |
YES |
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TOTAL |
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28 |
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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