MIRA INFORM REPORT

 

 

Report Date :

07.04.2011

 

 

Note : Given Address could not be confirmed

 

 

IDENTIFICATION DETAILS

 

Name :

WIOSKA MOLDINGS PRIVATE LIMITED

 

 

Registered Office :

R-52, 3rd Floor, Vikas Marg, Shakarpur, Delhi – 110092

 

 

Country :

India

 

 

Financials (as on) :

31.03.2010

 

 

Date of Incorporation :

31.03.1997

 

 

Com. Reg. No.:

55-086272

 

 

CIN No.:

[Company Identification No.]

U2839DL1997PTC086272

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Manufacturer of Moulds, Plastic Parts, Parts for Auto Industry

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B (28)

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

 

Maximum Credit Limit :

USD 18350

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but Correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having moderate track. Profitability of the company appears to be low. However, trade relations are reported as fair. Business is active. Payments are reported to be slow but correct.

 

The company can be considered small to mediocre 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)

India

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 :

R-52, 3rd Floor, Vikas Marg, Shakarpur, Delhi – 110092, India

Tel. No. :

91-11-22012352

E-Mail :

roc@mbgupta.com

mbg_fca@hotmail.com

mbg.mca@hotmail.com

 

 

Factory :

Industrial Plot No. 76, Block No. A, Sector No-80, Phase-II Noida-201301, Uttar Pradesh, India

 

DIRECTORS

 

As on 29.09.2010

 

Name :

Mr. Pankaj Kumar Jindal

Designation :

Director

Address :

K-25, Sector – 11, Noida, Uttar Pradesh, India

Date of Appointment :

23.11.1999

DIN :

00047180

 

 

Name :

Mrs. Savita Jindal

Designation :

Director

Address :

K-25, Sector – 11, Noida, Uttar Pradesh, India

Date of Appointment :

19.02.2003

DIN :

00047206

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 29.09.2010

 

Names of Shareholders

 

No. of Shares

Mr. Pankaj Kumar Jindal

 

117200

Mrs. Savita Jindal

 

37500

Satish Kumar Verma

 

100

Suraj Prakash Jindal

 

5100

Pankaj Kumar Jindal (HUF)

 

100

Total

 

160000

 

 

As on 29.09.2010

 

Category

Percentage

 

 

Directors or relatives of Directors

99.87

Other top fifty shareholders

0.13

 

 

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Manufacturer of Moulds, Plastic Parts, Parts for Auto Industry

 

PRODUCTION STATUS AS ON (31.03.2010)

 

Particulars

Actual Production

4 Wheeler (Parts)

12185966

2 Wheeler (Parts)

3536549

Scrap (kg)

14963

Moulds

10

Speaker Parts

110577

 

 

GENERAL INFORMATION

 

Bankers :
  • Small Industries Development Bank of India, C-60, Sector-2, Noida – 201301, Uttar Pradesh, India
  • Bank of Baroda
  • ICICI Bank Limited
  • HDFC Bank

 

 

Facilities :

Secured Loan (Rs.in million)

31.03.2010

31.03.2009

Bank of Baroda OD A/c (agst. Hypothecation of stock and book debts)

2.152

7.771

Bank of Baroda car loan (agst. Hypothecation of swift dzire car)

0.465

0.570

ICICI car loan a/c (agst. Hypothecation of car – 0082)

0.010

0.021

Term loan (BOB) A/c (agst. Hypothecation of Plant and machinery)

0.000

0.320

Term loan (SIDBI New) A/c

3.200

0.000

Term loan (SIDBI) A/c (agst. Hypothecation of building)

1.705

2.905

Term loan (SIDBI) A/c (agst. Hypothecation of Plant and machinery)

2.386

3.226

Term loan (SIDBI) A/c (agst. Hypothecation of Plant and machinery)

0.500

0.000

Total

10.418

14.813

Unsecured loan (Rs.in million)

31.03.2010

31.03.2009

Advantage Engineers and Development Private Limited

0.300

0.000

From Directors and Shareholders

2.561

1.507

Total

2.861

1.507

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

 M. B. Gupta and Company

Chartered Accountant

Head Office :

R-52, 3rd Floor, Vikas Marg, Shakarpur, Delhi – 110092, India

Tel. No.:

91-11-22012352

 

 

Branch Office :

C-9, Sector 19, Noida – 201301, Uttar Pradesh, India

Tel. No.:

91-120-4549057 58 / 59

Fax No. :

91-120-4323062

PAN No.:

AAGFM7201B

 

 

CAPITAL STRUCTURE

 

As on 29.09.2010

 

Authorised Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

250,000

Equity Shares

Rs.10/- each

Rs.2.500 million

 

 

 

 

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

 

 

 

 

160,000

Equity Shares

Rs.10/- each

Rs.1.600 million

 

 

 

 

 

 

 

 

 

 

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

1.600

1.600

1.600

2] Share Application Money

0.928

0.928

0.928

3] Reserves & Surplus

2.060

1.693

1.356

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

4.588

4.221

3.884

LOAN FUNDS

 

 

 

1] Secured Loans

10.418

14.813

11.434

2] Unsecured Loans

2.861

1.507

2.430

TOTAL BORROWING

13.279

16.320

13.864

DEFERRED TAX LIABILITIES

0.000

0.074

0.214

 

 

 

 

TOTAL

17.867

20.615

17.962

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

10.925

11.498

11.685

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.000

0.000

0.000

DEFERREX TAX ASSETS

0.008

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
2.260

3.598

3.572

 

Sundry Debtors
6.468

11.290

5.920

 

Cash & Bank Balances
1.231

0.479

0.798

 

Other Current Assets

0.000

0.000

0.000

 

Loans & Advances
1.538

2.012

1.648

Total Current Assets
11.497

17.379

11.938

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
3.255

7.358

4.548

 

Other Current Liabilities
0.921

0.626

0.956

 

Provisions
0.387

0.278

0.157

Total Current Liabilities
4.563

8.262

5.661

Net Current Assets
6.934

9.117

6.277

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.000

 

 

 

 

TOTAL

17.867

20.615

17.962

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2010

31.03.2009

31.03.2008

 

 

 

 

 

 

TURNOVER AND OTHER INCOME

38.741

33.971

27.935

 

 

 

 

 

Less

EXPENSES

34.830

30.039

24.825

 

 

 

 

 

 

PROFIT BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION

3.911

3.932

3.110

 

 

 

 

 

Less

FINANCIAL EXPENSES                        

1.660

1.794

1.447

 

 

 

 

 

 

PROFIT BEFORE TAX, DEPRECIATION AND AMORTISATION

2.251

2.138

1.663

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

1.581

1.611

1.346

 

 

 

 

 

 

PROFIT BEFORE TAX

0.670

0.527

0.317

 

 

 

 

 

Less

TAX                                                                 

0.304

0.190

0.138

 

 

 

 

 

 

PROFIT AFTER TAX (G-I)                                 

0.366

0.337

0.179

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

0.366

0.337

0.179

 

 

 

 

 

 

Earnings Per Share (Rs.)

2.29

2.11

 

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2010

31.03.2009

31.03.2008

PAT / Total Income

(%)
0.94

0.99

0.64

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
2.99

1.82

1.62

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.15

0.12

0.08

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
3.89

5.82

5.03

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
2.52

2.10

2.11

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Note : Registered office address of the company has been shifted from 1/110474, Panchsheel Garden, Naveen Shahdra, Delhi – 32 to the present address.

 

During the year, the company earned a profit of Rs.0.366 million as compared to Rs.0.337 million profit earned during the previous year. The directors are trying for better results in the next year.

 

Bankers Charges Report as per Registry

 

Corporate identity number of the company

U28939DL1997PTC086272

Name of the company

WIOSKA MOLDINGS PRIVATE LIMITED

Address of the registered office or of the principal place of  business in India of the company

R-52,3RD FLOOR,

VIKAS MARG, SHAKARPUR

DELHI

Delhi

INDIA

110092

This form is for

Creation of Charge

Type of charge

  • Immovable Property
  • Movable Property

Particular of charge holder

Small Industries Development Bank of India, C-60, Sector-2, NOida – 201301, Uttar Pradesh, India

Email : prakash@sidbi.in

Nature of instrument creating charge

Agreement for Term Loan Limit-Cum-Hypothecation dated-24-03-2011,  Declaration and Undertaking dated 24-03-2011

Date of instrument Creating the charge

24.03.2011

Amount secured by the charge

Rs.4.800 million

Brief of the principal terms an conditions and extent and operation of the charge

Rate of Interest - Interest will be payable @11.50%(Floating) p.a. The rate mentioned is subject to change and per sole discretion of SIDBI or as per RBI directives.

 

Terms of Repayment - The Loan Shall be repaid in 50 installments after a moratorium of 06 months from the date of first disbursement of the loan of Rs. 0.096 million each. The date(s) of such installments shall be on 10th day of every month of each year.

 

Extent and Operation of the charge - 1. Extention of charge by way of mortgage of all the borrower's immovable property, including leasehold rights, situated at Industrial Plot No. 76, Block No. A, Sector No-80, Phase-II Noida-201301 both present and future, admeasuring 450 Sq. Mtrs owned by Wioska Moldings Private Limited

2. Extention of Charge by way of hypothecation on all movables of the borrower including plant and machinery, equipment, machinery spares, tools and accessories, office equipment, computers furniture and fixtures.

Short particulars of the property or asset(s) charged (including complete address and location of the property)

Extention of charge by way of mortgage of all the borrower's immovable property, including leasehold rights, situated at Industrial Plot No. 76, Block No. A, Sector No-80, Phase-II, Noida, both present and future, admeasuring 450 Sq. Mtrs owned by Wioska Moldings Private Limited. Extention of Charge by way of hypothecation on all movables of the borrower including plant and machinery, equipment, machinery spares, tools and accessories, office equipment, computers, furniture and fixtures, miscellaneous fixed assets etc.

 

FIXED ASSETS :

  • Leasehold Land
  • Building
  • Electrical Installations
  • Car
  • Scooters
  • Computers
  • Cycle
  • Generator
  • Plastic bin
  • Air conditioner
  • Machinery
  • EDM Machine
  • Romex machine
  • Electrical Equipment
  • Telephone Instrument
  • Fire Safety Instrument
  • CVT Camera
  • Television
  • Weighing Machine
  • Water Pump
  • Furniture and Fixture
  • Transformer

 

 

 

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.44.20

UK Pound

1

Rs.72.24

Euro

1

Rs.63.09

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

3

OPERATING SCALE

1~10

3

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

3

--PROFITABILIRY

1~10

2

--LIQUIDITY

1~10

3

--LEVERAGE

1~10

3

--RESERVES

1~10

3

--CREDIT LINES

1~10

3

--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

NO

--AFFILIATION

YES/NO

NO

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

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

 

 

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

-

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.