MIRA
INFORM REPORT
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Report Date : |
01.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
SURIYA KIRAN COMPUTERS PRIVATE LIMITED SURIYA KIRAN ELECTRONICS DIVISION OF SURIYA KIRAN COMPUTERS PRIVATE
LIMITED |
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Registered
Office : |
7, Behra Enclave, Outer Ring Road, Paschim Vihar, New Delhi – 110087 |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
08.05.1998 |
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Com. Reg. No.: |
093716 |
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Capital
Investment / Paid-up Capital : |
Rs.0.442 Million |
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CIN No.: [Company Identification
No.] |
U72200DL1998PTC093716 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELS24302F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of digital camera, LCD and LED Television, Home Theater, Laptops and related electronics products. Dealer of Sony. |
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No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
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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 2564 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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 reported as
fair. Business is active. Payments are reported to be slow. The company can be considered
for business dealings 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
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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. Rawat |
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Designation : |
Manager |
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Contact No.: |
91-11-25284492 |
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Date : |
01.08.2011 |
LOCATIONS
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Registered Office : |
7, Behra Enclave, Outer Ring Road, Paschim Vihar, New Delhi – 110087,
Delhi, India |
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Tel. No.: |
91-11-25284492/45056875 |
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Fax No.: |
91-11-45056875 |
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E-Mail : |
DIRECTORS
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Name : |
Mr. Suriya Kiran Vohra |
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Designation : |
Director |
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Address : |
7, Behra Enclave, Outer Ring Road, Paschim Vihar, New Delhi – 110087,
India |
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Name : |
Mr. Baldev Krishan Vohra |
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Designation : |
Director |
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Address : |
7, Behra Enclave, Outer Ring Road, Paschim Vihar, New Delhi – 110087,
India |
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Name : |
Mr. Sandeep Vohra |
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Designation : |
Director |
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Address : |
7, Behra Enclave, Outer Ring Road, Paschim Vihar, New Delhi – 110087,
India |
KEY EXECUTIVES
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Name : |
Mr. Rawat |
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Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
NOT AVAILABLE
BUSINESS DETAILS
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Line of Business : |
Trader of digital camera, LCD and LED Television, Home
Theater, Laptops and related electronics products. Dealer of Sony. |
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Agencies Held : |
Sony |
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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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Customers : |
·
Retailers ·
End Users |
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No. of Employees : |
20 (Approximately) |
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Bankers : |
State Bank of India, Netaji Subhash Place,
Pitampura, Delhi – 110034, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Tarsem Lal and Company Chartered Accountant |
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Address : |
Plot No. 4 and 5 ashirwad Appartment, Moti Ram Road, Behind Mukherjee
School, Delhi – 110032, Delhi, India |
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Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.10/- each |
Rs.2.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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44220 |
Equity Shares |
Rs.10/- each |
Rs.0.442
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.442 |
0.442 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.199 |
0.149 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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0.641 |
0.591 |
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LOAN FUNDS |
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1] Secured Loans |
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4.999 |
7.865 |
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2] Unsecured Loans |
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3.367 |
1.699 |
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TOTAL BORROWING |
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8.366 |
9.564 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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9.007 |
10.155 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.237 |
0.292 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.015 |
0.011 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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6.923
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9.846 |
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Sundry Debtors |
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0.549
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0.733 |
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Cash & Bank Balances |
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2.052
|
1.511 |
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Other Current Assets |
|
0.043
|
0.033 |
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Loans & Advances |
|
0.307
|
0.191 |
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Total
Current Assets |
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9.874
|
12.314 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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0.899
|
1.909 |
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Other Current Liabilities |
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0.136
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0.415 |
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Provisions |
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0.084
|
0.138 |
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Total
Current Liabilities |
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1.119
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2.462 |
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Net Current Assets |
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8.755
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9.852 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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9.007 |
10.155 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
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SALES |
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TOTAL |
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62.015 |
59.702 |
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Less |
EXPENSES |
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TOTAL |
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61.764 |
59.442 |
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PROFIT BEFORE
TAX |
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0.251 |
0.260 |
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Less |
TAX |
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0.097 |
0.138 |
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PROFIT AFTER TAX
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0.154 |
0.122 |
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KEY RATIOS
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
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PAT / Total Income |
(%) |
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0.25 |
0.20 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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2.48 |
2.06 |
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Return on Investment (ROI) (PBT/Networth) |
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0.39 |
0.44 |
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Debt Equity Ratio (Total Liability/Networth) |
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14.80 |
20.35 |
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Current Ratio (Current Asset/Current Liability) |
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8.83 |
5.00 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8:
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Corporate identity number of the company |
U72200DL1998PTC093716 |
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Name of the company |
SURIYA KIRAN COMPUTERS PRIVATE LIMITED |
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Address of the registered office or of the
principal place of business in |
7 Behra Enclave Paschim Vihar, Outer Ring
Road, Delhi – 110087, Delhi, India |
|
This form is for |
Modification of charge |
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Type of charge |
Book Debts Immovable Property Others |
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Particular of charge holder |
State Bank of India |
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Nature of instrument creating charge |
(i) Letter of arrangement (SME-1) (ii)Supplemental Agreement of loan cum
Hypothecation (SME-4) (iii) Memorandum of recording extension of
mortgage by deposit of title deeds (SME-7) (iv) Letter
of confirmation for extension of mortgage by deposit of title deeds
(SME-8) |
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Date of instrument Creating the charge |
25/06/2010 |
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Amount secured by the charge |
Rs.15.000 Millions |
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Brief of the principal terms an conditions
and extent and operation of the charge |
Rate of Interest Rate of interest @ 0.25% below SBAR
(SBAR-11.75% w.e.f.29.06.2009) with a minimum of 11.50% p.a. with monthly
rest. Terms of Repayment Payable on demand. Margin Raw materials, Semi Finished goods,
Finished goods-25% and Domestic receivables-40% Extent and Operation of the charge 100% Others The above is to secure the Cash Credit
(Hypo. of stocks and Book Debts) limit of Rs 15.000 Millions granted by the
Bank to the company. |
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Short particulars of the property charged |
Primary: First charge on entire current
assets and other items as also stocks in transit and present and future
receivables. Collateral: Equitable Mortgage of
Residential property No. 7, Behra Enclave, Paschim Vihar, New Delhi-87 in the
name of Smt Suriya Kiran . |
|
Particulars of the present modification |
The Cash Credit (Hyp. of stocks and Book
Debts) enhanced to Rs 15.000 Millions with interest @0.25% below SBAR (SBAR
11.75% w.e.f. 29.06.2009) with a minimum 11.50% p.a. with monthly rests. Other terms and conditions remain same. |
FIXED ASSETS:
·
Air Conditioner
·
Car
·
Furniture and Fixtures
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.44.15 |
|
|
1 |
Rs.72.10 |
|
Euro |
1 |
Rs.63.10 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
|
27 |
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.