MIRA
INFORM REPORT
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Report Date : |
18.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
NEELGAGAN ENTERPRISES PRIVATE LIMITED |
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Registered Office : |
4014, 2nd Floor, Raghu Ganj, Chawri Bazar, New Delhi – 110006 |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
02.11.1993 |
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Com. Reg. No.: |
55-55895 |
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CIN No.: [Company
Identification No.] |
U74899DL1993PTC055895 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELN04592A |
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PAN No.: [Permanent
Account No.] |
AAACN1571E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Stationery such as Plastic File, Folder etc. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
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Maximum Credit Limit : |
USD 3000 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small company having moderate track. It’s payments are
reported as slow. Trade relations are fair. The company can be considered for small to mediocre business dealings
at usual trade terms and conditions. |
INFORMATION PARTED
BY
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Name : |
Mr. Manish Gupta |
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Designation : |
Director |
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Date : |
28.08.2008 |
LOCATIONS
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Registered Office : |
4014, 2nd Floor, Raghu Ganj, Chawri Bazar, New Delhi –
110006, India |
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Tel. No.: |
91-11-23972091/ 27696433 |
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Mobile No.: |
91-9811017433 |
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Fax No.: |
91-11-27696433/ 23915372 |
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E-Mail : |
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Website : |
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Area : |
1000 sq. ft. |
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Location : |
Owned |
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Factory : |
D-20, SMA Industrial Estate, Opposite Thane District, Maharashtra,
India |
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Area : |
6000 sq. ft. |
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Location : |
Rented |
DIRECTORS
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Name : |
Mr. Ramesh Kumar Gupta |
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Designation : |
Director |
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Address : |
C-1/5, Model Town, Delhi, India |
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Date of Birth/Age : |
16.10.1955 |
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Date of Appointment : |
01.01.1998 |
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Name : |
Mr. Manish Gupta |
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Designation : |
Director |
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Address : |
C-1/5, Model Town, Delhi, India |
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Date of Birth/Age : |
06.07.1974 |
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Date of Appointment : |
02.11.1993 |
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Name : |
Mr. Satish Kumar Goyal |
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Designation : |
Director |
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Address : |
E-4/11A, Model Town, Delhi – 110009, India |
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Date of Birth/Age : |
15.06.1960 |
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Date of Appointment : |
01.01.1998 |
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Name : |
Mr. Nirdesh Gupta |
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Designation : |
Director |
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Address : |
K-5/5, Model Town, Delhi, India |
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Date of Birth/Age : |
06.05.1970 |
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Date of Appointment : |
02.11.1993 |
KEY EXECUTIVES
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Name : |
Mr. Raj Kumar Yadav |
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Designation : |
Company Secretary |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 15.09.2005)
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Names of Shareholders |
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No. of Shares |
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Ramesh Kumar Gupta |
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2500 |
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Manish Gupta |
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2510 |
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Satish Kumar Goyal |
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2500 |
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Nirdesh Gupta |
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2510 |
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Total |
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10020 |
(As on 31.03.2007)
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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 : |
Manufacturer of Stationery such as Plastic File, Folder etc. |
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Products : |
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Exports : |
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Products : |
Stationery |
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Countries : |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
GENERAL
INFORMATION
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No. of Employees : |
11 (Office – 4 and Factory – 7) |
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Bankers : |
HDFC Bank, Delhi Branch, India |
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Banking
Relations : |
- |
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Auditors : |
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Pratap Gupta Chartered Accountant |
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Name : |
V. D. Aggarwal and Company Chartered Accountant |
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Address : |
BM-1, Dilkhus Industrial Cum Commercial Complex, G. T. Karnal Road,
Azadpur, Delhi – 110033, India |
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Memberships : |
Paper Merchant Associates (PMP) SMA Welfare Associates |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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25000 |
Equity Shares |
Rs.100/- each |
Rs.2.500 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10020 |
Equity Shares |
Rs.100/- each |
Rs.1.002
Million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
1.002 |
1.002 |
1.002 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.028 |
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4] (Accumulated Losses) |
(0.463) |
(0.277) |
0.000 |
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NETWORTH |
0.539 |
0.725 |
1.030 |
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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 |
4.283 |
4.320 |
4.320 |
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TOTAL BORROWING |
4.283 |
4.320 |
4.320 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
4.822 |
5.045 |
5.350 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.874 |
1.022 |
0.074 |
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Capital work-in-progress |
0.000 |
0.000 |
0.200 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.279 |
0.279 |
0.084 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
1.272
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1.630 |
3.414 |
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Sundry Debtors |
1.901
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2.909 |
1.437 |
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Cash & Bank Balances |
0.688
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0.934 |
0.000 |
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Other Current Assets |
0.000
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0.000 |
0.000 |
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Loans & Advances |
0.070
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0.086 |
0.146 |
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Total
Current Assets |
3.931
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5.559 |
4.997 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
0.250
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1.809 |
0.016 |
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Provisions |
0.012
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0.006 |
0.000 |
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Total
Current Liabilities |
0.262
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1.815 |
0.016 |
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Net Current Assets |
3.669
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3.744 |
4.981 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.011 |
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TOTAL |
4.822 |
5.045 |
5.350 |
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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 |
4.836 |
3.699 |
3.856 |
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Other Income |
0.011 |
0.087 |
0.062 |
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Total Income |
4.847 |
3.786 |
3.918 |
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Profit/(Loss) Before Tax |
(0.179) |
(0.494) |
(0.122) |
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Provision for Taxation |
0.007 |
0.189) |
(0.045) |
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Profit/(Loss) After Tax |
(0.186) |
(0.305) |
(0.077) |
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Imports Value |
1.258 |
2.386 |
2.054 |
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Expenditures : |
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Financial Charges |
0.005 |
0.017 |
0.009 |
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Depreciation & Amortization |
0.165 |
0.135 |
0.044 |
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Other Expenditure |
4.856 |
4.128 |
3.987 |
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Total Expenditure |
5.026 |
4.280 |
4.040 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
(3.84)
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(8.06) |
(1.97) |
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Net Profit Margin (PBT/Sales) |
(%) |
(3.70)
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(13.35) |
(3.16) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(3.73)
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(7.51) |
(2.41) |
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Return on Investment (ROI) (PBT/Networth) |
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(0.33)
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(0.68) |
(0.12) |
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Debt Equity Ratio (Total Liability/Networth) |
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8.43
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8.46 |
4.21 |
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Current Ratio (Current Asset/Current Liability) |
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15.00
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3.06 |
312.31 |
LOCAL AGENCY
FURTHER INFORMATION
Note:
The Registered Office of the company has been shifted from New Delhi –
110009, India, to the present address w.e.f. 01.04.2006.
Website Details:
Profile:
Stationery is essential in the day to day functioning of
offices and educational institutions. Today, fashions and technology also
influence stationery to a large degree. Established in the year 1993, Subject is a manufacturer, exporter and trader of PP/PVC File Folders, Display Books, Four Flappers,
Report Covers, Strip Files, Bags, Envelopes, Visiting Card Holders, Albums, CD
Covers, Computer Binders,
etc.
A colourful variety of products are offered at the best prices and they are,
undoubtedly, the best that money can buy. A quarter of their products are
exported to various countries across the globe. Their products are used
extensively in schools, colleges, and various offices and commercial spaces.
Their major clients include Kendriya Bhandar, Mother's Pride, Haryana Trader's
Private Limited, and many other such prestigious establishments.
Infrastructure
Subject several machines are utilized in the manufacturing processes. At their
fabrication unit, files and folders are fabricated in various shapes, sizes,
styles, colours and designs. Raw materials like PP, PVC and boards are used in
their production.
Packaging is another area, which is given due importance in
their organization; each of their product is packaged in standardized sets,
using good quality packaging materials. Well stocked at all times, they have
the ability to successfully cater to all kinds of unforeseen demands.
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
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Indian Rupees |
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US Dollar |
1 |
Rs.46.34 |
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UK Pound |
1 |
Rs.82.96 |
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Euro |
1 |
Rs.65.82 |
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 |
3 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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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 |
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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29 |
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 |
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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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