MIRA
INFORM REPORT
|
Report Date : |
30.04.2011 |
Note : The correct name of the company is GLOBAL AUTOMOTIVE
COMPONENTS PRIVATE LIMITED.
IDENTIFICATION DETAILS
|
Name : |
GLOBAL AUTOMOTIVE COMPONENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
151, Sector-16 A, Faridabad-121002, Haryana |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
29.03.2001 |
|
|
|
|
Com. Reg. No.: |
05-034656 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899HR2001PTC034656 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
RTKG02971D / RTKG02822B |
|
|
|
|
Legal Form : |
Private Limited liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Exporters of Sheet Metal Pressed
Components, Automotive Gaskets, Rubber Molded Parts, Rubber To Metal Bonded
Parts, Exhaust Mounting Parts for all kinds of Motor Vehicle. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 70000 |
|
|
|
|
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 : |
151, Sector-16 A, Faridabad-121002, Haryana, India |
|
Tel. No.: |
91-129-2229658 / 4071341 / 2229821 / 2229498 |
|
E-Mail : |
DIRECTORS
As On : 30.09.2010
|
Name : |
Mr. Subhash Chander Gumber |
|
Designation : |
Director |
|
Address : |
151, Sector-16 A, Faridabad-121002, Haryana, India |
|
Date of Appointment : |
29.03.2001 |
|
DIN No : |
00716987 |
|
|
|
|
Name : |
Mr. Ritesh Gumber |
|
Designation : |
Director |
|
Address : |
151, Sector-16 A, Faridabad-121002, Haryana, India |
|
Date of Appointment : |
29.03.2001 |
|
DIN No : |
00716933 |
|
|
|
|
Name : |
Mr. Kamlesh Gumber |
|
Designation : |
Director |
|
Address : |
151, Sector-16 A, Faridabad-121002, Haryana, India |
|
Date of Appointment : |
29.03.2001 |
|
DIN No : |
01054655 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Subhash Chander Gumber |
|
135800 |
|
Ritesh Gumber |
|
30100 |
|
Kamlesh Gumber |
|
50100 |
|
Uma Ahuja |
|
500 |
|
|
|
|
|
Total |
|
216500 |
AS ON 30.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Directors or relatives of directors |
|
99.76 |
|
Others |
|
0.24 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporters of Sheet Metal Pressed
Components, Automotive Gaskets, Rubber Molded Parts, Rubber To Metal Bonded Parts,
Exhaust Mounting Parts for all kinds of Motor Vehicle. |
GENERAL INFORMATION
|
Bankers : |
·
Citi Bank N. A., DLF Square, M-Block, Jacaranda
Marg, DLF City, Phase-II, Gurgaon-122002, Haryana, India. ·
The Hongkong and Sanghai Banking Corporation, Umang,
Plot CST No.1406-A/28, 5th Floor, Mind Space, Behind Inorbit Mall,
New Link Road, Malad (West), Mumbai-400064, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Deepak and Arora Chartered Accountant |
|
Address : |
A-13, Nehru Ground, Faridabad-121001, Haryana, India |
CAPITAL STRUCTURE
As On : 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs. 10/- each |
Rs. 10.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
216500 |
Equity Shares |
Rs. 10/- each |
Rs. 2.165
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 |
2.165 |
2.165 |
2.165 |
|
|
2] Share Application Money |
1.917 |
1.517 |
1.517 |
|
|
3] Reserves & Surplus |
13.538 |
11.602 |
10.866 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
17.620 |
15.284 |
14.548 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
18.132 |
12.588 |
6.249 |
|
|
2] Unsecured Loans |
3.283 |
4.380 |
1.334 |
|
|
TOTAL BORROWING |
21.415 |
16.968 |
7.583 |
|
|
DEFERRED TAX LIABILITIES |
1.263 |
1.100 |
1.120 |
|
|
|
|
|
|
|
|
TOTAL |
40.298 |
33.352 |
23.251 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
25.824 |
25.066 |
21.098 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.626 |
0.100 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
4.383
|
5.110 |
3.092 |
|
|
Sundry Debtors |
29.036
|
12.877 |
18.921 |
|
|
Cash & Bank Balances |
0.525
|
0.576 |
0.440 |
|
|
Other Current Assets |
0.454
|
0.129 |
0.016 |
|
|
Loans & Advances |
14.971
|
15.022 |
12.061 |
|
Total
Current Assets |
49.369
|
33.714 |
34.530 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
32.666
|
20.107 |
15.391 |
|
|
Other Current Liabilities |
0.430
|
4.363 |
16.036 |
|
|
Provisions |
2.442
|
1.093 |
1.003 |
|
Total
Current Liabilities |
35.538
|
25.563 |
32.430 |
|
|
Net Current Assets |
13.831
|
8.151 |
2.100 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.017 |
0.035 |
0.053 |
|
|
|
|
|
|
|
|
TOTAL |
40.298 |
33.352 |
23.251 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
120.678 |
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
|
120.678 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
117.378 |
NA |
|
|
|
Financial |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
TOTAL |
|
117.378 |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
3.300 |
1.551 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.000 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
3.300 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.73
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.39
|
2.64 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.10 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
3.30
|
2.85 |
2.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.39
|
1.32 |
1.06 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULTS
The Profit and Loss Account of the company
shows a Net Profit amounting to Rs. 3.300 millions.
FORM 8
|
Corporate
identity number of the company |
U74899HR2001PTC034656 |
|
Name of the
company |
GLOBAL
AUTOMOTIVE COMPONENTS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
151, Sector-16 A, Faridabad-121002, Haryana, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Movable property (not being pledge) Others |
|
Particular of
charge holder |
Citi Bank N. A., DLF Square, M-Block, Jacaranda Marg, DLF City,
Phase-II, Gurgaon-122002, Haryana, India. |
|
Nature of
instrument creating charge |
Deed of Hypothecation. |
|
Date of
instrument Creating the charge |
31.03.2011 |
|
Amount secured by
the charge |
Rs. 28.100 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest As
per sanction terms and as may be decided by the Bank and Company mutually
from time to time. Terms of
repayment Repayable
on demand, annually renewable. Margin Borrower
shall at all times during the continuance of the security maintain a
sufficient amount to provide the margin of security as may from time to time
advised by the bank. Extent and
operation of the charge First
exclusive charge over the whole of the movable assets of the borrower,
including any and all stocks, book debts and receivables and all other
current assets and including plant and machinery tools, machinery spares,
furniture, fixtures, accessories and all other equipment both present and
future in favour of Citibank N.A Gurgaon for the repayment of all monies in
respect of the credit facility, including outstanding balance and also all
interest, costs, charges and expenses. |
|
Short particulars
of the property charged (Including location of the property) |
Whole
of the movable assets of the borrower, including any and all stocks, book
debts and receivables and all other current assets and including plant and
machinery |
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.44.38 |
|
|
1 |
Rs.73.87 |
|
Euro |
1 |
Rs.65.83 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
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 |
|
47 |
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.