BUSINESS INFORMATION REPORT
1. Summary Information
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Country |
India |
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Company Name |
MANX EXIM INDIA PRIVATE LIMITED |
Principal Name 1 |
Mr. Manish Singhal |
|
Status |
Small Company |
Principal Name 2 |
Ms. Deepika Singhal |
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|
Registration # |
55-146711 |
|
Street Address |
Office No. 17th Floor, Raghushree Market, Ajmeri Gate, New Delhi – 110 006 |
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Established Date |
22.02.2006 |
SIC Code |
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Telephone# |
91-11-23212008/ 23217272 / 27678007 |
Business Style 1 |
Manufacturer, Distributor and Importers of Fire Hare, Valves and
Sprinklers (Yoyko Zingiang), Rubber Hokes, PVC Super Spray Hokes (Korea),
Clamps (Taiwan) |
|
Fax # |
91-11-25833434/ 23218181 / 27678007 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
-- |
|
|
# of employees |
11 Approximately |
Product Name 2 |
-- |
|
Paid up capital |
Rs.100,000 |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of directors – 100% |
Banking |
ICICI Bank |
|
Public Limited Corp. |
-- |
Business Period |
5 years |
|
IPO |
-- |
International Ins. |
-- |
|
Public |
-- |
Rating |
Ca (14) |
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Relation
- |
Associates/Subsidiaries |
Company
Name |
Firel Systems Limited |
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Note |
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2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
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|
Current Assets |
1,621,000 |
Current Liabilities |
1,560,000 |
|
Inventories |
4,760,000 |
Long-term Liabilities |
3,729,000 |
|
Fixed Assets |
79,000 |
Other Liabilities |
0 |
|
Deferred Assets |
3,000 |
Total Liabilities |
5,289,000 |
|
Invest& other Assets |
5,000 |
Retained Earnings |
523,000 |
|
|
|
Net Worth |
1,179,000 |
|
Total Assets |
6,468,000 |
Total Liab. & Equity |
6,468,000 |
|
Total Assets (Previous Year) |
5,137,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
-- |
Net Profit |
0.081 |
|
Sales(Previous yr) |
-- |
Net Profit(Prev.yr) |
0.172 |
MIRA INFORM REPORT
|
Report Date : |
26.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
MANX EXIM INDIA PRIVATE LIMITED |
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Registered Office : |
Office No. 17th Floor, Raghushree Market, Ajmeri Gate, New Delhi – 110 006 |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
22.02.2006 |
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|
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Com. Reg. No.: |
55-146711 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100
Million |
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|
|
CIN No.: [Company
Identification No.] |
U51909DL2006PTC146711 |
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|
|
Legal Form : |
Private Limited Liability Company |
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|
|
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Line of Business : |
Manufacturer, Distributor and Importers of Fire Hare, Valves and Sprinklers
(Yoyko Zingiang), Rubber Hokes, PVC Super Spray Hokes ( |
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|
|
|
No. of Employees : |
11 Approximately |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (14) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a small company in its field. Its scale of activities are
limited. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow. The company can be considered for small 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
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 DECLINED BY
|
Name : |
Mr. Manish |
|
Designation : |
Director |
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Contact No.: |
91-9811096110 |
LOCATIONS
|
Registered Office /Factory : |
Office No. 17th Floor, Raghushree Market, Ajmeri Gate, New Delhi – 110 006, India |
|
Tel. No.: |
91-11-23212008/ 23217272 / 27678007 |
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Fax No.: |
91-11-25833434/ 23218181 / 27678007 |
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E-Mail : |
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Area : |
500 Sq. fts. |
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Location : |
Rented |
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Godown : |
192, Padgunj, Industrial Area, |
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Location : |
Rented |
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Factory: |
Located at
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Location: |
Owned |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Manish Singhal |
|
Designation : |
Director |
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Date of Birth/Age : |
05.06.1972 |
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Qualification : |
MBA |
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Date of Appointment : |
22.02.2006 |
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Name : |
Ms. Deepika Singhal |
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Designation : |
Director |
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Date of Birth/Age : |
25.02.1967 |
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Qualification : |
Graduate |
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Date of Appointment : |
22.02.2006 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names
of Shareholders |
No. of Shares |
|
Manish Singhal |
5000 |
|
Deepika Singhal |
5000 |
|
Total |
10000 |
AS ON 30.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
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Category |
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Directors or relatives of directors |
|
100.00 |
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Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Distributor and Importers of Fire Hare, Valves and Sprinklers
(Yoyko Zingiang ), Rubber Hokes, PVC Super Spray Hokes ( |
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Imports : |
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Countries : |
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Terms : |
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Selling : |
L/C, DP against Payment |
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Purchasing : |
L/C, DP against Payment |
GENERAL INFORMATION
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Customers : |
Wholesalers |
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No. of Employees : |
11 Approximately |
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Bankers : |
Ř
ICICI Bank, Corporate Office,
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Facilities: |
Rs. In Millions
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Nidhi Bansal and Company Chartered Accountant |
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Address : |
202 Amber Tower Commercial Complex, Azadpur, Delhi 110033, India |
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Tele Fax: |
91-11-27678007 |
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Associates/Subsidiaries : |
Ř Firel Systems Limited G-181,
Narayna Vihar, Turnover : 26 millions USD Website : http://www.firelsystems.in
Ř Zeco Aircon Industries Private Limited [Parent Company] A-19,
Narayna Vihar, Turnover : 40 millions USD Website : http://www.zecoaircon.com
Ř Manx Commerce Private Limited |
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|
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CAPITAL STRUCTURE
AS ON 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each
|
Rs.0.100
Million |
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 |
0.556 |
0.556 |
0.556 |
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3] Reserves & Surplus |
0.523 |
0.442 |
0.285 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.179 |
1.098 |
0.941 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
3.729 |
2.314 |
1.659 |
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TOTAL BORROWING |
3.729 |
2.314 |
1.659 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
4.908 |
3.412 |
2.600 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.079 |
0.102 |
0.129 |
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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 |
0.003 |
0.001 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
4.760
|
1.853 |
0.851 |
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Sundry Debtors |
0.888
|
1.516 |
3.105 |
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Cash & Bank Balances |
0.532
|
1.386 |
0.679 |
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Other Current Assets |
0.051
|
0.051 |
0.050 |
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Loans & Advances |
0.150
|
0.218 |
0.448 |
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Total
Current Assets |
6.381
|
5.024 |
5.133 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
0.000 |
0.000 |
0.000 |
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Other Current Liabilities |
1.391
|
1.591 |
2.613 |
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Provisions |
0.169
|
0.134 |
0.064 |
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Total
Current Liabilities |
1.560
|
1.725 |
2.677 |
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Net Current Assets |
4.821
|
3.299 |
2.456 |
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MISCELLANEOUS EXPENSES |
0.005 |
0.010 |
0.015 |
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TOTAL |
4.908 |
3.412 |
2.600 |
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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 |
NA |
NA |
NA |
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PROFIT AFTER TAX |
0.081 |
0.172 |
0.204 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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Debt Equity Ratio (Total Liability/Networth) |
|
4.48
|
3.67 |
4.60 |
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Current Ratio (Current Asset/Current Liability) |
|
4.09
|
2.91 |
1.91 |
LOCAL AGENCY FURTHER INFORMATION
THE COMPANY IS IN
TRADE TERMS WITH:
Ř Rahul
Rubber
Ř Rubber
Traders
Ř
Ř Suresh Industries
Ř National Belting Company
Ř Rajeev Hodge Maker, Kolkata
PROFITABILITY:
The company has
earned a Profit amounting to Rs 0.081 million after tax during the year as
compared to profit of Rs.0.172 million during the previous year, and the same
has been transferred to Balance sheet.
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 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.46.13 |
|
|
1 |
Rs.75.52 |
|
Euro |
1 |
Rs.66.53 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
2 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
1 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
-- |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
14 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.