MIRA
INFORM REPORT
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Report Date : |
24.10.2008 |
IDENTIFICATION DETAILS
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Name : |
EXPANDA STAND PRIVATE LIMITED |
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Registered Office : |
W-469, |
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Country : |
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Financials (as on) : |
31.03.2004 |
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Date of Incorporation : |
27.10.1999 |
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Com. Reg. No.: |
043425 |
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CIN No.: [Company
Identification No.] |
U36102TN1999PTC043425 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
CHEE03009G/ CHEE03645F |
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PAN No.: [Permanent
Account No.] |
AAACE8579M |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Supplier of Moduler Display Solutions like Literate
Displaysl, Retail displays, Shopping Trolly, Billing Section and Ware house
Section |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
-- |
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Status : |
Moderate |
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Payment Behaviour : |
Slow and Delayed |
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Litigation : |
Unknown |
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Comments : |
The Company is poor in Corporate Governance. Management declined
financials despite of continuous approaches. The company’s financial position
may not be favourable. Its payments are reported as slow and delayed. The company can be considered normal for business dealings at usual
trade terms and conditions. |
INFORMATION PARTED BY
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Name : |
Mr. Mahadeva Reddy |
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Designation : |
Director |
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Contact No.: |
91-9841053969 |
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Date : |
21.10.2008 |
LOCATIONS
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Registered Office : |
W-469, IInd Street, ‘C’ Section Anna Nagar, West Extension,
Chennai-600101, Tamilnadu, India |
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Tel. No.: |
91-44-26150551 |
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Mobile No.: |
91-9841024117 |
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Fax No.: |
91-44-26150392 |
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E-Mail : |
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Website : |
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Area : |
1350 sq.ft ( Rented|) |
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Factory : |
W-322, 2nd Avenue, C.Sector, Anna Nagar West Extension,
Chennai-600101, Tamilnadu, India |
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Tel. No.: |
91-44-26150551021 |
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Mobile No.: |
91-9841053969 |
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Fax No.: |
91-44-26150392 |
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E-Mail : |
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Area : |
5500 sq.ft ( Owned) |
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Branches : |
Located at Bangalore |
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Area : |
2350 sq.ft (Owned) |
DIRECTORS
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Name : |
Mr. Mahadeva Reddy |
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Designation : |
Managing Director |
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Address : |
New No0. W-5, (W-481) Avenue,C-Sector Praveen Viratta Flat No. 1, Anna
Nagar, West Extension, Chennai-600101, Tamilnadu, India |
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Date of Birth/Age : |
01.07.1955 |
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Qualification : |
Engineer |
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Date of Appointment : |
27.10.1999 |
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Name : |
Mrs. Monalis Reddy |
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Designation : |
Director |
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Address : |
New No0. W-5, (W-481) Avenue,C-Sector Praveen Viratta Flat No. 1, Anna
Nagar, West Extension, Chennai-600101, Tamilnadu, India |
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Date of Birth/Age : |
13.01.1960 |
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Qualification : |
Graduate |
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Date of Appointment : |
27.10.1999 |
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Name : |
Mr.Subramaniam |
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Designation : |
Director |
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Address : |
59, Nintagjel Na-3, Island Gears, 11700 Selvgrpully, Pinag, India |
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Date of Birth/Age : |
20.11.1961 |
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Qualification : |
Engineer |
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Date of Appointment : |
27.10.1999 |
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Name : |
Mr. Willis Teoh Boh Chuan |
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Designation : |
Director |
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Address : |
108, Esonal Indhngtek, 10250, Georgegaon, Pulay, Pinag, India |
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Date of Birth/Age : |
10.07.1963 |
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Qualification : |
Product Designer |
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Date of Appointment : |
27.10.1999 |
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Name : |
Mr. Peter Aubs Kerby Euton |
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Designation : |
Director |
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Address : |
97, Main North Road, Clare, South Ausrtralia-5453 |
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Date of Birth/Age : |
25.11.1949 |
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Qualification : |
Engineer |
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Date of Appointment : |
27.10.1999 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
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No. of Shares |
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M Mahadeva Reddy |
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6000 |
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Monalis Reddy |
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6000 |
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Total |
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12000 |
As on 23.06.2008
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List of Allottes |
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No.of Shares Allotted |
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Mahadeva Reddy |
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41000 |
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Y Narayansamy Reddy |
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40000 |
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Monalisa Reddy |
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5000 |
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Total |
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86000 |
Equity Share Breakup (Percentage of Total Equity)
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Supplier of Moduler Display Solutions like Literate Displaysl,
Retail displays, Shopping Trolly, Billing Section and Ware house Section |
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Products : |
·
Racks and Fixtures ·
Merchandising Display ·
Visual Merchandising Solutions ·
Shoroom Display ·
Literature Display ·
Promotional Display for Retail ·
Shopping Trolleys and Baskets ·
Entry Gates and Q Poles ·
Anti Theft Devices ·
Check Out Counters ·
Rackjs and Shelves ·
WareHouse Equipments |
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Exports : |
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Countries : |
Malaysia |
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Imports : |
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Products : |
Components of Displays |
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Countries : |
Malaysia and Autralia |
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Terms : |
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Selling : |
D.D |
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Purchasing : |
D.D |
GENERAL INFORMATION
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Customers : |
Retailers |
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No. of Employees : |
19 (Office 6, Factory 10) |
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Bankers : |
Centurian Bank of Punjab, Anna Nagar |
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Banking
Relations : |
Unknown |
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Auditors : |
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Name : |
P Ravindranath Naidu Chartered Accountant Pannasani and company Chartered accountant |
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Address : |
51, Maddox Street, First Flloor, Chgnnnaz-600112, Tamilnadu, India |
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Name : |
Shreenath and Associetes Chartered Accountant |
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Address : |
TRP Nagar, Chennai |
CAPITAL STRUCTURE
As on 31.03.2008
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.000 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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12000 |
Equity Shares |
Rs. 10/-
each |
Rs. 0.120
Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
Latest Financials of the company are not available.
Management remained non co-operative during current investigation.
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2004 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.000 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.000 |
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4] (Accumulated Losses) |
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0.000] |
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NETWORTH |
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0.000 |
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LOAN FUNDS |
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1] Secured Loans |
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0.159 |
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2] Unsecured Loans |
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0.000 |
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TOTAL BORROWING |
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0.159 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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0.159 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.080 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.144 |
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Sundry Debtors |
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0.193 |
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Cash & Bank Balances |
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0.047 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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[0.059] |
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Total
Current Assets |
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0.325 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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[0.247] |
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Provisions |
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0.001 |
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Total
Current Liabilities |
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[0.246] |
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Net Current Assets |
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0.079 |
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MISCELLANEOUS EXPENSES |
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0.000 |
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TOTAL |
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0.159 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2004 |
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Sales Turnover |
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2.701 |
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Other Income |
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0.090 |
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Total Income |
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2.791 |
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Profit/(Loss) Before Tax |
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0.004 |
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Provision for Taxation |
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0.000 |
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Profit/(Loss) After Tax |
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0.004 |
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Expenditures : |
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Purchases made for re-sale |
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0.318 |
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Salaries, Wages, Bonus, etc. |
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0.270 |
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Managerial Remuneration |
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0.324 |
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Payment to Auditors |
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0.007 |
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Insurance Expenses |
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0.001 |
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Power & Fuel |
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0.022 |
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Other Expenditure |
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1.845 |
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Total Expenditure |
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2.787 |
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KEY RATIOS
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PARTICULARS |
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31.03.2004 |
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PAT / Total Income |
(%) |
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0.14 |
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Net Profit Margin (PBT/Sales) |
(%) |
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0.15 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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0.98 |
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Return on Investment (ROI) (PBT/Networth) |
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0.00 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.00 |
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Current Ratio (Current Asset/Current Liability) |
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[1.32]., |
LOCAL AGENCY FURTHER INFORMATION
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Additional Requirement of Indiamart for Trust-Seal |
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VAT / TIN : 33921342987 |
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PAN / TAN : AACE8579
M |
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Bank Name : Centurian
Bank of Punjab |
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Bank Address : Anna
Nagar, Chennai |
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Bank A/c. No.: CTRNINBBMAA
17458137001 |
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Account Since : 1999 |
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts, India Prisons Service,
Interpol, etc.
1] INFORMATION ON
DESIGNATED PARTY
No exist designating subject or any of its beneficial owners,
controlling shareholders or senior officers as terrorist or terrorist
organization or whom notice had been received that all financial transactions
involving their assets have been blocked or convicted, found guilty or against
whom a judgement or order had been entered in a proceedings for violating
money-laundering, anti-corruption or bribery or international economic or
anti-terrorism sanction laws or whose assets were seized, blocked, frozen or
ordered forfeited for violation of money laundering or international
anti-terrorism laws.
2] Court Declaration :
No records exist to suggest that subject is
or was the subject of any formal or informal allegations, prosecutions or other
official proceeding for making any prohibited payments or other improper
payments to government officials for engaging in prohibited transactions or
with designated parties.
3] Asset Declaration :
No records exist to suggest that the property or assets of the subject
are derived from criminal conduct or a prohibited transaction.
4] Record on Financial
Crime :
Charges or conviction
registered against subject: None
5] Records on Violation of
Anti-Corruption Laws :
Charges or
investigation registered against subject: None
6] Records on Int’l
Anti-Money Laundering Laws/Standards :
Charges or
investigation registered against subject: None
7] Criminal Records
No available
information exist that suggest that subject or any of its principals have been
formally charged or convicted by a competent governmental authority for any
financial crime or under any formal investigation by a competent government
authority for any violation of anti-corruption laws or international anti-money
laundering laws or standard.
8] Affiliation with
Government :
No record
exists to suggest that any director or indirect owners, controlling
shareholders, director, officer or employee of the company is a government
official or a family member or close business associate of a Government
official.
9] Compensation Package :
Our market
survey revealed that the amount of compensation sought by the subject is fair
and reasonable and comparable to compensation paid to others for similar
services.
10] Press Report :
No press reports / filings exists on
the subject.
CORPORATE GOVERNANCE
MIRA INFORM as part of its Due Diligence do provide comments on
Corporate Governance to identify management and governance. These factors often
have been predictive and in some cases have created vulnerabilities to credit
deterioration.
Our Governance Assessment focuses principally on the interactions
between a company’s management, its Board of Directors, Shareholders and other
financial stakeholders.
CONTRAVENTION
Subject is not known to have contravened any existing local laws,
regulations or policies that prohibit, restrict or otherwise affect the terms
and conditions that could be included in the agreement with the subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.79 |
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UK Pound |
1 |
Rs.81.27 |
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Euro |
1 |
Rs.63.91 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
2 |
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OPERATING SCALE |
1~10 |
2 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
2 |
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--PROFITABILIRY |
1~10 |
-- |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
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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17 |
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 |
|
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 |
|
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 |
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