MIRA
INFORM REPORT
|
Report Date : |
05.04.2011 |
IDENTIFICATION DETAILS
|
Name : |
VINEY CORPORATION PRIVATE LIMITED (w.e.f. 23.02.2011) |
|
|
|
|
Formerly Known
as : |
VINEY AUTO PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
G – 1033-1034-1035, DSIDC Narela Industrial Complex, Bhorgarh, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
16.03.1992 |
|
|
|
|
Com. Reg. No.: |
55-047911 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1992PTC047911 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELV04436F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV0446L |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and
Wholesaler of Automobile Electrical Component and Automobile Components. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 822000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
G – 1033-1034-1035, DSIDC Narela Industrial Complex, Bhorgarh, |
|
Tel. No.: |
91-11-27782294 |
|
Fax No. : |
91-11-27781645 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Plot – 42, Sector – 3, IMT Manesar, Gurgaon – 122001, |
|
Tel. No. : |
91-124-4567400 |
|
Fax No. : |
91-124-27782297 |
DIRECTORS
AS ON 30.10.2010
|
Name : |
Mr. Aggarwal Prakash Anil |
|
Designation : |
Director |
|
Address : |
A – 88, Lok Vihar Pitampura, |
|
Date of Appointment : |
16.03.1992 |
|
|
|
|
Name : |
Mr. Aggarwal Kumar Brijesh |
|
Designation : |
Director |
|
Address : |
A – 88, Lok Vihar Pitampura, |
|
Date of Appointment : |
01.04.2004 |
|
|
|
|
Name : |
Mr. Aggarwal Prakash Om |
|
Designation : |
Director |
|
Address : |
A – 88, Lok Vihar Pitampura, |
|
Date of Birth/Age : |
12.05.1927 |
|
Date of Appointment : |
01.04.2007 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.10.2010
|
Names of Shareholders |
No. of Shares |
|
Viney Prakash Aggarwal (H.U.F) |
85000 |
|
Anil Prakash Aggarwal |
262690 |
|
Sudesh Aggarwal |
30003 |
|
Anil Prakash (HUF) |
67000 |
|
|
93003 |
|
Viney Prakash |
232090 |
|
Ved Prakash (HUF) |
54000 |
|
Brijesh Kumar |
796438 |
|
Rakesh Kumar |
453675 |
|
Shobha Aggarwal |
253590 |
|
Ritu Aggarwal |
149250 |
|
Sudesh Kumari |
706590 |
|
Saroj Devi |
234000 |
|
Master Deep Aggarwal |
621930 |
|
Master Akshya Aggarwal |
1260061 |
|
Master Anant Aggarwal |
1755160 |
|
Priyanka Aggarwal |
171510 |
|
TOTAL |
7225990 |
AS ON 30.10.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and
Wholesaler of Automobile Electrical Component and Automobile Components. |
GENERAL INFORMATION
|
Bankers : |
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
NOTE :
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R N Saraf and Company Chartered Accountant |
|
Address : |
2659/2, |
|
Tel. No.: |
91-11-28752651 |
|
Fax No.: |
91-11-28755210 |
|
E-Mail : |
CAPITAL STRUCTURE
AS ON 30.10.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
14500000 |
Equity Shares |
Rs. 10/- each |
Rs.145.000 millions |
|
500000 |
Preference Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7225990 |
Equity Shares |
Rs. 10 each |
Rs.72.260
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
72.260 |
49.315 |
49.315 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
133.195 |
59.057 |
51.891 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
205.455 |
108.372 |
101.206 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
55.983 |
64.982 |
42.036 |
|
|
2] Unsecured Loans |
207.485 |
159.125 |
114.050 |
|
|
TOTAL BORROWING |
263.468 |
224.107 |
156.086 |
|
|
DEFERRED TAX LIABILITIES |
20.737 |
11.154 |
8.762 |
|
|
|
|
|
|
|
|
TOTAL |
489.660 |
343.633 |
266.054 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
221.730 |
118.104 |
110.255 |
|
|
Capital work-in-progress |
17.549 |
4.092 |
3.122 |
|
|
|
|
|
|
|
|
INVESTMENT |
16.580 |
18.291 |
18.290 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
82.266
|
82.024
|
67.792 |
|
|
Sundry Debtors |
294.258
|
168.751
|
128.822 |
|
|
Cash & Bank Balances |
18.944
|
13.533
|
7.147 |
|
|
Other Current Assets |
0.000
|
0.000
|
0.000 |
|
|
Loans & Advances |
57.280
|
26.822
|
20.247 |
|
Total
Current Assets |
452.748
|
291.130
|
224.008 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
171.614
|
56.830
|
64.727 |
|
|
Other Current Liabilities |
8.181
|
6.475
|
3.895 |
|
|
Provisions |
39.497
|
24.965
|
21.129 |
|
Total
Current Liabilities |
219.292
|
88.270
|
89.751 |
|
|
Net Current Assets |
233.456
|
202.860
|
134.257 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.345 |
0.286 |
0.130 |
|
|
|
|
|
|
|
|
TOTAL |
489.660 |
343.633 |
266.054 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
996.179 |
631.032 |
518.235 |
|
|
|
Other Income |
520.148 |
0.255 |
1069.436 |
|
|
|
TOTAL |
1516.327 |
631.287 |
1587.671 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
1462.214 |
608.751 |
1566.879 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
54.113 |
22.536 |
20.792 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
12.938 |
8.447 |
7.820 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
41.175 |
14.089 |
12.972 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
19.258 |
18.093 |
18.044 |
|
|
|
|
|
|
|
|
|
Less |
APPROPRIATIONS |
|
|
|
|
|
|
|
Transfer to General Reserve |
10.000 |
6.000 |
6.000 |
|
|
|
Dividend |
8.671 |
5.918 |
5.918 |
|
|
|
Tax on Dividend |
0.144 |
1.006 |
1.005 |
|
|
BALANCE CARRIED
TO THE B/S |
41.618 |
19.258 |
18.093 |
|
|
|
|
|
|
|
|
|
|
EARNING PER
SHARE |
2.86 |
2.63 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.71
|
2.23
|
0.81 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
5.43
|
3.57
|
4.01 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.02
|
5.50
|
6.22 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.26
|
0.20
|
0.20 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
2.35
|
2.88
|
2.42 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.06
|
3.29
|
2.49 |
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE REVIEW
Pursuant of amalgamation w.e.f. 01.04.2009, the figures for the current year includes figures of the erstwhile India Terminal Connector Systems Limited and Sane Electricals Private Limited. Consequently, current year figures are not comparable to those of previous year.
CHANGE OF ADDRESS :
Registered office of the company has been shifted from
G-975, Narela,
FORM 8
|
This form is for |
Modification of charge |
|
Charge
identification number of the modified |
10040552 |
|
Corporate identity
number of the company |
U74899DL1992PTC047911 |
|
Name of the
company |
VINEY AUTO
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
G – 975, Narela, |
|
Type of charge |
Book Debts Movable Property Others |
|
Particular of
charge holder |
Citi Bank, NA, Jeevan Vihar, 3 Senapati Bapat Marg, |
|
Nature of
description of the instrument creating or modifying the charge |
- Deed of
Modification of Goods Security Agreement |
|
Date of
instrument Creating the charge |
21.07.2008 |
|
Amount secured by
the charge |
Rs.60.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As defined in
agreement Terms of
Repayment Repayable on
demand other terms governed by the agreement Margin governed by the
agreement Extent and Operation
of the charge ·
First
& Exclusive Charge on all Current Assets. ·
First
& Exclusive Charge on all Plant & machinery. |
|
Short particulars
of the property charged |
·
First
& Exclusive Charge on all Current Assets. ·
First
& Exclusive Charge on all Plant & machinery. |
|
Date of latest
modification prior to the present modification |
22.02.2007 |
|
Particulars of
the present modification |
|
FIXED ASSETS
Tangible Assets
- Land Freehold
- Land Leasehold
- Building
- Plant and Machinery
- Electric Fittings
- Furniture and Fixture
- Office Equipment
- Computer
- Vehicles
In tangible Assets
- Computer Software
- Trade Mark
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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.44.65 |
|
|
1 |
Rs.71.92 |
|
Euro |
1 |
Rs.63.24 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--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 |
|
46 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.