MIRA INFORM REPORT
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Report Date : |
19.04.2011 |
IDENTIFICATION DETAILS
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Name : |
WIN-WIN AUTOMOBILES PRIVATE LIMITED |
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Registered
Office : |
NH -12, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
11.02.2004 |
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Com. Reg. No.: |
10-016396 |
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CIN No.: [Company Identification
No.] |
U05010MP2004PTC016396 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
BPLW00085B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Authorized Dealer of Mahindra Vehicles |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 85000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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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. The latest Profit and Loss Account of the company is not available. |
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) |
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A1 |
A1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION DECLINED BY
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Name : |
Ms. Rashmi Chhabria |
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Designation : |
Accounts Manager |
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Date : |
15.04.2011 |
LOCATIONS
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Registered Office : |
NH -12, |
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Tel. No.: |
91-755-6543229 / 6543345 |
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Fax No.: |
91-755-4034510 |
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E-Mail : |
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Website : |
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Work Shop : |
1-B, Industrial Area Govindpura, |
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Tel. No.: |
91-755-6543228 |
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Showroom 1 : |
Punjabi Bagh, |
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Tel. No.: |
91-755-6543252 / 6543241 |
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Fax No.: |
91-755-4041951 |
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Showroom 2: |
New Bus Stand, |
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Tel. No.: |
91-9200026416 |
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Fax No.: |
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Showroom 3 : |
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Tel. No.: |
91-9200026416 |
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Fax No.: |
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Showroom 4 : |
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Tel. No.: |
91-9200026424 |
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Showroom 5 : |
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Tel. No.: |
91-9200026421 |
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Showroom 6 : |
Nandni Nagar, |
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Tel. No.: |
91-9200026459 |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Virendra Singh |
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Designation : |
Director |
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Address : |
50, |
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Date of Birth/Age : |
07.09.1967 |
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Date of Appointment : |
11.02.2004 |
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DIN : |
00029809 |
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Name : |
Mr. Shallu Singh |
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Designation : |
Director |
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Address : |
45-C, Nadir Colony, Shyama Hills, |
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Date of Birth/Age : |
13.06.1971 |
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Date of Appointment : |
11.02.2004 |
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DIN : |
02649363 |
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Name : |
Mr. Avtar Singh |
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Designation : |
Director |
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Address : |
45-C, Nadir Colony, Shyama Hills, |
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Date of Birth/Age : |
18.11.1937 |
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Date of Appointment : |
11.02.2004 |
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DIN : |
02649503 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
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Vrendra Singh |
|
268000 |
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Shallu Singh |
|
128500 |
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Avtar Singh |
|
403500 |
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Total |
|
800000 |
As on 30.09.2010
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Authorized Dealer of Mahindra Vehicles |
GENERAL INFORMATION
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No. of Employees : |
Not Divulged by Management |
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Bankers : |
Ř
Punjab National Bank, T. T. Nagar, Ř
HDFC Bank Ř
Standard Chartered Bank Ř
ICICI Bank Ř
State Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Lowlekar and Barjatya Chartered Accountant |
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Address : |
Balwant Arcade, 15, Zone – II, M. P. Nagar, |
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Tel. No.: |
91-755-2551588 / 2550930 |
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PAN No. : |
AABFL3822C |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
1,000,000 |
Equity Shares |
Rs.10/-each |
Rs.10.000 million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
800,000 |
Equity Shares |
Rs.10/-each |
Rs.8.000 million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
8.000 |
8.000 |
8.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
13.374 |
7.818 |
5.057 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
21.374 |
15.818 |
13.057 |
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LOAN FUNDS |
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1] Secured Loans |
122.362 |
82.036 |
65.002 |
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2] Unsecured Loans |
19.840 |
29.031 |
29.434 |
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TOTAL BORROWING |
142.202 |
111.067 |
94.436 |
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DEFERRED TAX LIABILITIES |
3.198 |
2.150 |
1.391 |
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TOTAL |
166.774 |
129.035 |
108.884 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
67.591 |
53.432 |
45.225 |
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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 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
68.483
|
60.814 |
52.887 |
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Sundry Debtors |
28.472
|
15.479 |
18.730 |
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Cash & Bank Balances |
6.301
|
9.067 |
0.479 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
12.532
|
14.463 |
11.173 |
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Total
Current Assets |
115.788
|
99.823 |
83.269 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
7.377
|
4.121 |
11.122 |
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Other Current Liabilities |
6.285
|
17.066 |
6.633 |
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Provisions |
2.943
|
3.033 |
1.855 |
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Total
Current Liabilities |
16.605
|
24.220 |
19.610 |
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Net Current Assets |
99.183
|
75.603 |
63.659 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
166.774 |
129.035 |
108.884 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
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SALES |
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Sales |
|
867.353 |
834.678 |
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Labor Charges |
|
8.726 |
8.273 |
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Other Income |
|
9.704 |
8.360 |
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TOTAL (A) |
|
885.783 |
851.311 |
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Less |
EXPENSES |
|
|
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|
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|
Cost of goods sold |
|
822.687 |
797.998 |
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Workshop Expenses |
|
6.872 |
6.992 |
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Repair and Maintenance |
|
0.331 |
0.127 |
|
|
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Employee Remuneration and benefits |
|
8.038 |
5.746 |
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Administrative Expenses |
|
8.329 |
7.380 |
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Selling and distribution Expenses |
|
19.201 |
18.362 |
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Preliminary Expenses written off |
|
0.000 |
0.012 |
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TOTAL (B) |
|
865.458 |
836.617 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
20.325 |
14.694 |
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Less |
FINANCIAL
EXPENSES (D) |
|
13.787 |
9.446 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
6.538 |
5.248 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
1.841 |
0.787 |
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PROFIT BEFORE
TAX (E-F) (G) |
|
4.697 |
4.461 |
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Less |
TAX (I) |
|
1.936 |
1.573 |
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PROFIT AFTER TAX
(G-I) (J) |
|
2.761 |
2.888 |
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BALANCE CARRIED
TO THE B/S |
|
2.761 |
2.888 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
NA
|
0.31 |
0.34 |
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Net Profit Margin (PBT/Sales) |
(%) |
NA |
0.54 |
0.53 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
3.06 |
3.47 |
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Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.30 |
0.34 |
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|
Debt Equity Ratio (Total Liability/Networth) |
|
7.43
|
8.55 |
8.73 |
|
|
|
|
|
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|
Current Ratio (Current Asset/Current Liability) |
|
6.97
|
4.12 |
4.25 |
LOCAL AGENCY FURTHER INFORMATION
Note : Registered office
address of the company has been shifted from 50, Windsor Retreat Building, 1st
Floor, Malviya Nagar, Bhopal – 462003, Madhya Pradesh, India to the present
address w.e.f. 30.05.2009
Sundry Creditors
(Rs.in millions)
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
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|
Sundry Creditors for goods |
7.377 |
4.121 |
11.122 |
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|
|
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Total |
7.377
|
4.121
|
11.122 |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U05010MP2004PTC016396 |
|
Name of the
company |
WIN-WIN
AUTOMOBILES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
NH-12, |
|
This form is for |
Modification
of Charge |
|
Charge
identification (ID) number of the charge to be modified |
90209587 |
|
Type of charge |
Ř Immovable Property Ř Book Debts Ř Movable Property |
|
Particular of
charge holder |
Punjab National Bank, T. T. Nagar, Email : bo0591@pnb.co.in |
|
Nature of
instrument creating charge |
1.Hypothecation Of
Goods And Book Debts To Secure Cash Credit Facility 2. Letter Of
Continuity |
|
Date of
instrument Creating the charge |
22.03.2011 |
|
Amount secured by
the charge |
Rs.150.000
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate Of Interest
- BR+ 2.50% IE Presently 12.00% Terms Of
Repayment - As Per Document Attached Margin - 25% Will
Be Kept For Advances Against Stock O Vehicles Older Than 3 Months But Not
Older Than 6 Months 15% Will Be Kept
For Advances Against Hypothecation Of Book Debts And Spares Extent And
Operation Of The Charge - Cc Stocks 125.000 millions Cc Book Debts
25.000 millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Regd Sale Deed Of
Plot No 16 Situated At CI Park View, Regd Agreement Of
Plot At Sector B-I Industrial Area Govindpura Diverted Land
Bearing Khasra No 266/1/1 Area 0.352 Hectare Sitauted At Vill Misrod P.H. No
42 Hypothecation Of
Stock Of Vehicles/Spares/ Book Debts |
|
Particulars of
the present modification |
Cc Limit Has Been
Increased Form Rs.95.000 millions To Rs.150.000 millions |
FIXED ASSETS :
Ř
Building
Ř
Air Conditioner
Ř
Office Equipment
Ř
Electrical Installation
Ř
Showroom rent
Ř
Furniture and Fixtures
Ř
Land
Ř
Plant and Machinery
Ř
Vehicle
Ř
Vehicle
Ř
Tourist Bus
Ř
Sinage
Ř
Electrical Equipment
Ř
Television
Ř
Computer
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.44.27 |
|
|
1 |
Rs.72.07 |
|
Euro |
1 |
Rs.63.66 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.