MIRA INFORM
REPORT
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Report Date : |
03.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
NITA ENTERPRISES |
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Registered Office : |
A-46, South Extension, Part – 2, |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
13.02.1986 |
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TIN No.: |
07650138097 |
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IEC No.: |
0595033083 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELN03343E |
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PAN No.: [Permanent
Account No. |
AASPS8579G |
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Legal Form : |
Sole Proprietory Concern |
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Line of Business : |
Manufacturer, Exporter, Importer and Supplier of Swimming Pool
Equipments. |
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No. of Employees : |
10 (Approximately) |
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 7600 |
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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 proprietory concern having satisfactory
track. Trade relations are reported as fair. Business is active. Payments are
reported to be usually correct and as per commitments. The concern can be considered normal for business dealings at usual
trade terms and conditions. The Latest Profit and Loss 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 PARTED BY
|
Name : |
Mr. Ashok Soni |
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Designation : |
Proprietor |
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Contact No.: |
91-9810048791 |
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Date : |
27.07.2011 |
LOCATIONS
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Registered Office / Factory: |
A-46, South Extension, Part – 2, |
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Tel. No.: |
91-11-26255242 / 26258639 |
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Mobile No.: |
91-9810048791 / 9968793923 (Mr. Ashok Soni) |
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Fax No.: |
91-11-26258639 |
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E-Mail : |
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Website : |
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Area : |
1000 sq ft |
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Location : |
Owned |
SOLE PROPRIETOR
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Name : |
Mr. Ashok Soni |
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Designation : |
Proprietor |
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Address : |
A-46, South Extension, Part - 2, |
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Date of Birth/Age : |
19.07.1948 |
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Qualification : |
B.Com. and National Swimmer |
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Experience : |
45 Years |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter, Importer and Supplier and Swimming Pool
Equipments. |
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Products : |
·
Life Saving Equipments: Life Buoy, Life
Jacket, Resuscitator, Shepherd Hook, Extension Rod, Life Guard Chair, etc. ·
Training Equipments: Kick Board, Drag
Plate, Pace Clock, Pull Buoy, Hand Paddle, etc. ·
Swimming Accessories: Swimming Lane,
Floating Goal Post, Storage Reel, Starting Block, Diving Board and Fulcrum,
SS Pole, Water Polo Caps, Diving Judges Card, Lap Card, Suction Sweeper,
Suction Brush-Small, Sand Filter, Suction Brush, Drain Sump Cover in SS, etc. ·
Pool Fittings: Anchor Basket, Inlet Nozzle,
Under Water Light, Ladder, Maxiflex Diving Board, Anti Current Machine,
Ergoneter, Pool Heater, Heat Exchanger, Transformer, Underwater Light 12 W,
Driving Judge Chair, etc. ·
Pool Accessories: Wall Brush, R.O
System, Automatic Suction Sweeper, Hydro-Pneumatic Tank and Pump, Chlorine,
Automatic Suction Sweeper, Leaf Skimmer, etc. |
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Brand: |
NITA |
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Agencies Held : |
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Exports : |
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Products : |
Swimming Pool Equipments |
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Countries : |
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Imports : |
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Products : |
Equipments |
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Countries : |
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Terms : |
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Selling : |
L / C, Cash and Credit (30 Days) |
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Purchasing : |
L / C, Cash and Credit (30 Days) |
GENERAL INFORMATION
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Suppliers : |
Own Manufacturing |
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Customers : |
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No. of Employees : |
10 (Approximately) |
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Bankers : |
Canara Bank, South Extension Branch, |
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Facilities : |
Credit limit Rs 3.000 Millions |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Rajesh Laxmi and Associates Chartered Accountants |
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Address : |
205, Vasant Complex, Shakarpur, |
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Tel. No.: |
91-11-22051299 |
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Name : |
Achint Gupta and Company Chartered Accountants |
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Address : |
D – 197, Ground Floor, laxmi Nagar |
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91-9899927558 |
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E – mail: |
CAPITAL STRUCTURE
As on 31.03.2010
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Capital Investment : |
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Owned : |
Rs.0.610 million |
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Borrowed : |
Rs.2.410 millions |
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Total : |
Rs.3.020
millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
|
Particulars |
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|
31.03.2011 |
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Sales Turnover (Approximately) |
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|
8.400 |
The above information has been parted by Mr Ashok
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry Records.
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.596 |
0.868 |
1.001 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.527 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.123 |
0.868 |
1.001 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.042 |
1.644 |
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2] Unsecured Loans |
3.592 |
2.368 |
0.291 |
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TOTAL BORROWING |
3.592 |
2.410 |
1.935 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
4.715 |
3.278 |
2.936 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.436 |
0.408 |
0.463 |
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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 |
2.145
|
1.008
|
1.267 |
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Sundry Debtors |
1.992
|
2.069
|
3.471 |
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Cash & Bank Balances |
0.027
|
0.136
|
0.002 |
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Other Current Assets |
0.964
|
0.527
|
0.170 |
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Loans & Advances |
0.000
|
0.000
|
0.000 |
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Total
Current Assets |
5.128
|
3.740 |
4.910 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
0.765
|
0.758
|
2.437 |
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Other Current Liabilities |
0.084
|
0.116
|
0.000 |
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Provisions |
0.000
|
0.000
|
0.000 |
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Total
Current Liabilities |
0.849
|
0.874 |
2.437 |
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Net Current Assets |
4.279
|
2.866
|
2.473 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
4.715 |
3.274 |
2.936 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
|
6.239 |
8.002 |
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Other Income |
|
0.089 |
0.030 |
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TOTAL (A) |
|
6.328 |
8.032 |
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Less |
EXPENSES |
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Cost of Goods Sold |
|
3.916 |
3.999 |
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Direct Expenses |
|
0.522 |
1.830 |
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Indirect Expenses |
|
1.558 |
1.672 |
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TOTAL (B) |
|
5.996 |
7.501 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
0.332 |
0.531 |
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Less |
FINANCIAL
EXPENSES (D) |
|
0.000 |
0.000 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
0.332 |
0.531 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.077 |
0.085 |
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NET PROFIT (G) |
|
0.255 |
0.446 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
4.02
|
5.55 |
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Net Profit Margin (PBT/Sales) |
(%) |
NA
|
4.08
|
5.57 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
7.78
|
8.30 |
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Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.29
|
0.45 |
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Debt Equity Ratio (Total Liability/Networth) |
|
3.95
|
3.80
|
4.37 |
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Current Ratio (Current Asset/Current Liability) |
|
6.04
|
4.27
|
2.01 |
LOCAL AGENCY FURTHER INFORMATION
TRADE REFERENCES:
- Sports of
Authority of
Fixed
Assets:
- Air Conditioner
- Car
- Cellular Phone
- Computer
- Dies
- Drill Machine
- Fax Machine
- Furniture
- Inverter
- Machinery
- Printer
- Scooter
- Starting Platform Die
- Telephone Instruments
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.44.23 |
|
|
1 |
Rs.72.09 |
|
Euro |
1 |
Rs.62.99 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
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--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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|
--BANK CHARGES |
YES/NO |
NO |
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--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
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|
--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 |
|
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.