MIRA
INFORM REPORT
|
Report Date : |
22.08.2011 |
IDENTIFICATION DETAILS
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Name : |
N.S. READYMIX PRIVATE LIMITED |
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Registered
Office : |
E-14, Anand Niketan, New Delhi – 110021 |
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Country : |
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Financials (as on)
: |
31.03.2010 |
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Date of
Incorporation : |
22.06.2007 |
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Com. Reg. No.: |
55-165099 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U45209DL2007PTC165099 |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Manufacturer of Readymix Concrete. |
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No. of Employees
: |
Not Available |
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 70000 |
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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 reported as fair,
Business is active. Payments are reported to be slow but correct. The company can be considered for small to mediocre 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 |
LOCATIONS
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Registered Office : |
E-14, Anand Niketan, New Delhi – 110021, India |
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Tel No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
DIRECTORS
(AS ON 30.09.2010)
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Name : |
Mr. Ajit Arora |
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Designation : |
Director |
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Address : |
E-14, Anand Niketan, New Delhi – 110021, India |
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Date of Birth/Age : |
07.12.1952 |
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Date of Appointment : |
22.06.2007 |
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Name : |
Mr. Surjit Arora |
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Designation : |
Director |
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Address : |
C-40, Anand Niketan, New Delhi – 110021, India |
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Date of Birth/Age : |
23.09.1958 |
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Date of Appointment : |
22.06.2007 |
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Name : |
Mr. Anoop Arora |
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Designation : |
Director |
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Address : |
E-14, Anand Niketan, New Delhi – 110021, India |
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Date of Birth/Age : |
06.11.1978 |
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Date of Appointment : |
22.06.2007 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2010)
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Names of Shareholders |
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No. of Shares |
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Ajit Arora |
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4500 |
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Surjit Arora |
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4500 |
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Anoop Arora |
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1000 |
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Total |
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10000 |
(AS ON 31.12.2010)
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Names of Allottee |
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No. of Shares
Allotted |
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Ajit Arora |
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70550 |
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Anoop Arora |
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2100 |
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Surjit Arora |
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54300 |
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N.S. Concretes Private Limited |
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183700 |
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Total |
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310650 |
(AS ON 30.09.2010)
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Readymix Concrete. |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
· ICICI Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Financial institution : |
· Tata Capital Limited One Forbes, Dr. V. B. Gandhi Marg, Fort, Mumbai – 400001, Maharashtra,
India |
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Auditors : |
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Name : |
Sandeep Kumar and Associates Chartered Accountant |
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Address : |
99, Sector – 15, Part – 1, Gurgaon – 122001, Haryana, India |
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Tel No.: |
91-124-2321695 |
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Mobile No.: |
91-9811141515 |
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Related Parties : |
· National Stone Crushing Company · Jai Hind Enterprises · D G Traders · Shri Ram Carriers · N. S. Concrete Private Limited · N. S. Concrete Solution Private Limited · N. S. Buildtech Private Limited |
CAPITAL STRUCTURE
(AFTER – AS ON 30.09.2010)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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500000 |
Equity Share |
Rs.10/- each |
Rs.5.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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320650 |
Equity Share |
Rs.10/- each |
Rs.3.207
Millions |
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(AS ON 30.09.2010)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Share |
Rs.10/- each |
Rs.0.100 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Share |
Rs.10/- each |
Rs.0.100 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 |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
12.695 |
7.320 |
7.610 |
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3] Reserves & Surplus |
4.430 |
4.078 |
3.715 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
17.225 |
11.498 |
11.425 |
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LOAN FUNDS |
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1] Secured Loans |
18.193 |
26.620 |
36.314 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
18.193 |
26.620 |
36.314 |
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DEFERRED TAX LIABILITIES |
2.015 |
1.930 |
1.714 |
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TOTAL |
37.433 |
40.048 |
49.453 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
50.559 |
45.136 |
35.076 |
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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 |
2.484
|
1.988 |
1.417 |
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Sundry Debtors |
10.998
|
9.800 |
3.428 |
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Cash & Bank Balances |
1.984
|
1.750 |
0.613 |
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Other Current Assets |
3.295
|
3.489 |
0.000 |
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Loans & Advances |
1.208
|
0.453 |
11.921 |
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Total
Current Assets |
19.969
|
17.480 |
17.379 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditor |
29.773
|
10.705 |
2.064 |
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Other Current Liabilities |
2.709
|
11.580 |
0.754 |
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Provisions |
0.621
|
0.295 |
0.200 |
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Total
Current Liabilities |
33.103
|
22.580 |
3.018 |
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Net Current Assets |
(13.134)
|
(5.100) |
14.361 |
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MISCELLANEOUS EXPENSES |
0.008 |
0.012 |
0.016 |
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TOTAL |
37.433 |
40.048 |
49.453 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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TOTAL TURNOVER |
60.038 |
54.340 |
21.104 |
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PROFIT BEFORE
TAX |
0.634 |
0.074 |
5.630 |
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Less |
TAX |
0.281 |
(0.288) |
1.915 |
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PROFIT AFTER TAX
|
0.353 |
0.362 |
3.715 |
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Earnings Per
Share (Rs.) |
35.30 |
-- |
-- |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.90
|
0.12 |
10.73 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.01 |
0.49 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.98
|
4.28 |
3.44 |
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Current Ratio (Current Asset/Current Liability) |
|
0.60
|
0.77 |
5.76 |
LOCAL AGENCY FURTHER INFORMATION
FORM 8:
|
Corporate
identity number of the company |
U45209DL2007PTC165099 |
|
Name of the
company |
N.S. READYMIX PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
E-14, Anand Niketan, New Delhi – 110021, India |
|
This form is for |
Creation of charge |
|
Type of charge |
Movable Property (not being pledge) |
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Particular of
charge holder |
Tata Capital
Limited One Forbes, Dr. V. B. Gandhi Marg, Fort, Mumbai – 400001, Maharashtra,
India |
|
Nature of
instrument creating charge |
Loan cum
hypothecation cum guarantee agreement No.7000109863 dated 31.03.2011. |
|
Date of
instrument Creating the charge |
31.03.2011 |
|
Amount secured by
the charge |
Rs.1.255 Millions
|
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interests: Interests @
5.823% per annum Terms of
Repayments: Principal amount
to be repaid in 23 monthly installments of Rs.0.061 Millions. Margin: N.A. Extent and
Operation of the charge: The Loan amount along
with all costs, Interests, Fees and expenses and all monies in terms of the
Loan agreement is secured by hypothecation of the assets. |
|
Particulars of
the property charged |
Loader Model No.
760 to the loan agreement. |
FIXED ASSETS
· Air Conditioner
· Car
· Computers
· Conveyor
· Cooler
· D G Set
· Electric Installation
· Furniture
· Inverter
· Lab Equipment
· Mobile
· Motor Cycle
· Pump
· Stabilizer
· Transit Mixture
· Weighing Scale
· Weighing Machine
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.45.61 |
|
|
1 |
Rs.75.32 |
|
Euro |
1 |
Rs.65.68 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
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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 |
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--EXPORT ACTIVITIES |
YES/NO |
NO |
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--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
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.