%20PRIVATE%20LIMITED%20-%20139241%2023-Apr-2011_files/image009.jpg){kind=small}
MIRA
INFORM REPORT
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Report Date : |
23.04.2011 |
IDENTIFICATION DETAILS
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Name : |
HOMDEC LIGHTING ( |
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Registered Office : |
B – 269, Ashok Nagar, |
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Country : |
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Financials (as on) : |
31.03.2009 |
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Date of Incorporation : |
07.04.1997 |
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Com. Reg. No.: |
55-086488 |
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CIN No.: [Company
Identification No.] |
U31501DL1997PTC086488 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Trader of Lighting Fixtures Foils. |
RATING & COMMENTS
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MIRA’s Rating : |
B (29) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 7000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are fair. Business
is active. Payments are reported to be slow but correct. The company can be considered for business dealing with some caution. |
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 PARTED BY
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Name : |
Mr. B. P. Arora |
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Designation : |
Director |
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Date : |
19.04.2011 |
LOCATIONS
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Registered Office : |
B – 269, Ashok Nagar, |
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E-Mail : |
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Location : |
Leased |
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Factory : |
56/34-35, Site IV, Industrial Area, Sahibabad – 201301, |
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Tel. No.: |
91-120-6486068 |
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Fax No.: |
91-120-2896104 |
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Location : |
Owned |
DIRECTORS
As On 30.09.2009
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Name : |
Mr. Budh Prakash Arora |
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Designation : |
Director |
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Address : |
A – 69, Rampuri, |
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Date of Birth/Age : |
15.07.1947 |
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Date of Appointment : |
07.04.1997 |
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DIN No.: |
00220727 |
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Name : |
Mrs. Usha Arora |
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Designation : |
Director |
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Address : |
A – 69, Rampuri, |
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Date of Birth/Age : |
01.02.1951 |
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Date of Appointment : |
07.04.1997 |
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DIN No.: |
00222357 |
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Name : |
Ms. Preeti Arora |
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Designation : |
Director |
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Address : |
A – 69, Rampuri, |
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Date of Birth/Age : |
13.09.1982 |
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Date of Appointment : |
21.11.2002 |
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DIN No.: |
00222185 |
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Name : |
Mr. Neeraj Arora |
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Designation : |
Director |
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Address : |
B-269 Ashok Nagar, |
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Date of Birth/Age : |
28.09.1971 |
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Date of Appointment : |
01.01.2002 |
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Date of Ceasing : |
21.11.2002 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2009
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Names of Shareholders |
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No. of Shares |
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Budh Prakash Arora |
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126600 |
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Usha Arora |
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3100 |
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Preeti Arora |
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3500 |
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Neeraj Arora |
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2000 |
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Ruchika Arora |
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4000 |
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Total |
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139200 |
As on 30.09.2009
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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 : |
Manufacturer and Trader of Lighting Fixtures Foils. |
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Products : |
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Exports : |
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Countries : |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
20 (In Office) |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Jayaswal Associates Chartered Accountant |
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Address : |
A – 160, 2nd Floor, Vikas Marg, Shahkarpur, |
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Tel. No.: |
91-11-22412550 |
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Mobile No.: |
91-9810771510 |
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Pan No.: |
AADPJ4040N |
CAPITAL STRUCTURE
As on 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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400000 |
Equity Shares |
Rs.10/- each |
Rs. 4.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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139200 |
Equity Shares |
Rs.10/- each |
Rs. 1.392 Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
1.392 |
1.392 |
1.392 |
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2] Share Application Money |
0.000 |
0.000 |
0.200 |
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3] Reserves & Surplus |
0.567 |
0.480 |
0.415 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.959 |
1.872 |
2.007 |
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LOAN FUNDS |
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1] Secured Loans |
5.226 |
4.391 |
4.583 |
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2] Unsecured Loans |
2.983 |
3.574 |
2.412 |
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TOTAL BORROWING |
8.209 |
7.965 |
6.995 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.034 |
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TOTAL |
10.168 |
9.837 |
9.036 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.893 |
3.204 |
3.626 |
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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 |
0.023
|
0.002 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
5.701
|
3.173 |
3.960
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Sundry Debtors |
1.916
|
4.542 |
2.979
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Cash & Bank Balances |
0.029
|
0.144 |
0.119
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Other Current Assets |
0.001
|
0.012 |
0.000
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Loans & Advances |
1.210
|
0.690 |
0.197
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Total
Current Assets |
8.857
|
8.561 |
7.255 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
0.328
|
0.240 |
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Other Current Liabilities |
1.166
|
1.539 |
1.709
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Provisions |
0.111
|
0.151 |
0.137
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Total
Current Liabilities |
1.605
|
1.930 |
1.846
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Net Current Assets |
7.252
|
6.631 |
5.409
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.001 |
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TOTAL |
10.168 |
9.837 |
9.036 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SALES |
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Income |
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20.224 |
16.736 |
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Other Income |
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NA |
NA |
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TOTAL |
20.403 |
NA |
NA |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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NA |
NA |
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Advertising Expenses |
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TOTAL |
20.225 |
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16.543 |
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PROFIT BEFORE
TAX |
0.178 |
0.196 |
0.193 |
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Less |
TAX |
0.090 |
0.152 |
0.117 |
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PROFIT AFTER TAX
|
0.088 |
0.044 |
0.076 |
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Earnings Per
Share (Rs.) |
0.63 |
NA |
0.55 |
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%20PRIVATE%20LIMITED%20-%20139241%2023-Apr-2011_files/image003.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20139241%2023-Apr-2011_files/image004.gif){kind=small}
%20PRIVATE%20LIMITED%20-%20139241%2023-Apr-2011_files/image005.gif){kind=small}
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Particulars |
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31.03.2010 |
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Sales Turnover |
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20.000 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
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PAT / Total Income |
(%) |
0.43
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NA |
NA
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Net Profit Margin (PBT/Sales) |
(%) |
NA
|
0.97 |
1.15
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.75
|
1.67 |
1.77
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Return on Investment (ROI) (PBT/Networth) |
|
0.09
|
0.10 |
0.10
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Debt Equity Ratio (Total Liability/Networth) |
|
5.01
|
5.29 |
4.41
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Current Ratio (Current Asset/Current Liability) |
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5.52
|
4.44 |
3.93
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LOCAL AGENCY FURTHER INFORMATION
Change of Address:
The Registered Address of the company has been shifted from 10058 Lane 3
H,
Form 8:
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Corporate
identity number of the company |
U31501DL1997PTC086488 |
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Name of the
company |
HOMDEC LIGHTING ( |
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Address of the
registered office or of the principal place of business in |
B – 269, Ashok Nagar, |
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This form is for |
Modification of
charge |
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Type of charge |
Immovable property
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Particular of
charge holder |
State Bank of |
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Nature of
description of the instrument creating or modifying the charge |
Bank Letter No.
SME/335 |
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Date of
instrument Creating the charge |
04.02.2011 |
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Amount secured by
the charge |
Rs. 5.000
Millions |
|
Short particulars
of the property charged |
Equitable
mortgage of the factory land and building situated at 56/34, Sahibabad
Industrial Area, site-IV, Sahibabad )GZB) |
|
Particulars of
the present modification |
The company has
given the coll. security as EMTof the factory L and B situated at
56/34,Sahibabad Indus. Area,Site-IV, Sahibabad (GZB) and Corporate Guarantee for
the credit facilities granted to M/s Castlite Industries to the extent of
Rs12.650 millions from time to time.Now Bank has released the said property
and Corporate Guarantee vide letter no SME/335 dt. 04.02.11.Hence the Company
has no collateral security and Corporate Guarantee for the credit facilities
granted to M/sCastlite Industries. Other T and C remain same |
Fixed Assets:
- Industrial Plot
- Plant and Machinery
- Dies and Tools
- Generator
- Electrical Installation
- Furniture
- Office Equipments
- Weight and Measures
- Fire – Extinguisher
- Computer
- Dust Collector
- Motor Car
- Lab Equipments
Trade References:
- Hospitality
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.44.30 |
|
|
1 |
Rs.72.92 |
|
Euro |
1 |
Rs.64.69 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
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
|
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.