MIRA
INFORM REPORT
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Report Date : |
21.12.2011 |
IDENTIFICATION DETAILS
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Name : |
L COMPS AND IMPEX PRIVATE LIMITED |
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Formerly Known
As : |
L-CON COMPONENTS PRIVATE LIMITED |
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Registered
Office : |
182/63, Industrial Area, Phase I, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
31.10.1979 |
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Com. Reg. No.: |
05-004067 |
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Capital Investment
/ Paid-up Capital : |
Rs. 0.500 Million |
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CIN No.: [Company Identification
No.] |
U31200CH1979PTC004067 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PTLL10326B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Importer of Food Items and Electrical
Goods like Relays and Thermostats. etc. |
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No. of Employees
: |
40 (30 in Office and 10 in Branches) Approximately |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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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 269000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to be
regular 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 : |
182/63, Industrial Area, Phase I, |
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Tel. No.: |
91-172-2650026/2640573 |
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Fax No.: |
91-172-2653861 |
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E-Mail : |
garg_ca@hotmail.com |
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Area : |
2500 sq. yds. |
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Location : |
Owned |
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Mumbai Office / Factory: |
14, Paper Box House, Industrial Estate, Mahakali Caves
Road, Andheri East, |
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Tel. No.: |
91-22-24914073 |
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809-A, 8th Floor, |
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Tel. No.: |
91-11-26811108 / 26364632 /
26420044 / 26287003 / 26287004 |
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No. 5, Chamundi Krupa, 2nd. Floor, 4th Main, 9th
Cross, Malawian, |
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DIRECTORS
As on 30.09.2011
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Name : |
Mr. Puneet Gupta |
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Designation : |
Director |
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Address : |
610, Sector 18 B, |
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Date of Birth/Age : |
31.08.1971 |
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Date of Appointment : |
05.04.1993 |
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DIN No.: |
00210806 |
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Other
Directorship:
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Name : |
Mr. Sanjay Singla |
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Designation : |
Director |
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Address : |
H No. 1229, Sector 18, |
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Date of Birth/Age : |
17.12.1971 |
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Date of Appointment : |
31.07.2009 |
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DIN No.: |
02319860 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
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Names of Shareholders |
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No. of Shares |
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Puneet Gupta |
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3260 |
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Sat Prakash Gupta |
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25 |
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Sameer Gupta |
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1690 |
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Rattan Prabha |
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25 |
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TOTAL |
|
5000 |
Equity Share Break up (Percentage of Total Equity)
As on 30.90.2011
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Importer of Food Items and Electrical
Goods like Relays and Thermostats. etc. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
40 (30 in Office and 10 in Branches) Approximately |
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Bankers : |
Ř
State Bank of Ř Kotak Mahindra Bank Limited Ř HDFC Bank |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Garg Sanjeev and Associates Chartered Accountants |
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Address : |
Quiet Office No. 15, Sector 35-A, |
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Tel. No.: |
91-172-2607931 |
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PAN.: |
AAVFS8061J |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs. 100/- each |
Rs. 1.000 million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
5000 |
Equity Shares |
Rs. 100/- each |
Rs. 0.500
million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
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 |
0.500 |
0.500 |
0.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
66.666 |
59.325 |
59.239 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
67.166 |
59.825 |
59.739 |
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LOAN FUNDS |
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1] Secured Loans |
40.262 |
34.881 |
24.444 |
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2] Unsecured Loans |
15.553 |
10.819 |
0.923 |
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TOTAL BORROWING |
55.815 |
45.700 |
25.367 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
122.981 |
105.525 |
85.106 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
30.776 |
28.793 |
36.684 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
3.420 |
7.004 |
5.850 |
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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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|
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Inventories |
40.221
|
30.815 |
20.896 |
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Sundry Debtors |
70.228
|
69.181 |
32.486 |
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Cash & Bank Balances |
5.342
|
7.417 |
3.229 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
55.092
|
23.532 |
10.935 |
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Total
Current Assets |
170.883
|
130.945 |
67.546 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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|
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Sundry Creditors |
69.285
|
50.129 |
18.130 |
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Other Current Liabilities |
6.326
|
5.887 |
5.519 |
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Provisions |
6.487
|
5.201 |
1.325 |
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Total
Current Liabilities |
82.098
|
61.217 |
24.974 |
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Net Current Assets |
88.785
|
69.728 |
42.572 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
122.981 |
105.525 |
85.106 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
304.560 |
223.880 |
145.631 |
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Other Income |
1.171 |
0.244 |
6.610 |
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TOTAL (A) |
305.731 |
224.124 |
152.241 |
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Less |
EXPENSES |
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|
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Manufacturing Expenses |
289.375 |
213.504 |
140.525 |
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TOTAL (B) |
289.375 |
213.504 |
140.525 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
16.356 |
10.620 |
11.716 |
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Less |
INTEREST AND
FINANCIAL EXPENSES (D) |
4.797 |
4.931 |
2.442 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
11.559 |
5.689 |
9.274 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.213 |
0.731 |
0.517 |
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PROFIT BEFORE
TAX (E-F) (G) |
10.346 |
4.958 |
8.757 |
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Less |
TAX (H) |
3.036 |
1.680 |
1.107 |
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PROFIT AFTER TAX
(G-H) (I) |
7.310 |
3.278 |
7.650 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
26.882 |
26.795 |
19.442 |
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APPROPRIATIONS |
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|
Income Tax Paid for Earlier Years |
0.004 |
0.000 |
0.000 |
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|
Deferred Tax Provision |
0.035 |
3.191 |
0.297 |
|
|
BALANCE CARRIED
TO THE B/S |
34.222 |
26.882 |
26.795 |
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|
Earnings Per Share
(Rs.) |
1462.00 |
655.60 |
1530.91 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.40
|
1.46
|
5.02 |
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|
Net Profit Margin (PBT/Sales) |
(%) |
3.40
|
2.21
|
5.75 |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
5.13
|
3.10 |
8.40 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.08 |
0.15 |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.05
|
1.79 |
0.84 |
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Current Ratio (Current Asset/Current Liability) |
|
2.10
|
2.13 |
2.70 |
LOCAL AGENCY FURTHER INFORMATION
PERFORMANCE:
The working of the Company has resulted into a net profit of Rs. 10.346 millions after providing the depreciation of Rs.1.213 millions The share of Profit/ (Loss) from partnership firm amounted to Rs. 0.000. The Net profit after tax of Rs.7.310 millions has been added to brought forward profits and total profit has been transferred to Balance Sheet.
FORM 8
|
Corporate
identity number of the company |
U31200CH1979PTC004067 |
|
Name of the
company |
L COMPS AND IMPEX
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
182/63 Industrial
Areaphase I, Email: garg_ca@hotmail.com |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
90182912 |
|
Type of charge |
Movable Property
(not being pledge) Others |
|
Particular of
charge holder |
STATE BANK OF Industrial Area, Phase – I, Email: kanwalcs@gmail.com |
|
Nature of
instrument creating charge |
Supplemental
Agreement of Loan for increase in the overall limit, Supplemental Agreement
of Hypothecation of Goods and Assets for increase in the overall limit, Supplemental Deed
of Guarantee for increase in overall limit, Letter Regarding
the grant of individual limits within the overall limit. |
|
Date of
instrument Creating the charge |
16.02.2011 |
|
Amount secured by
the charge |
Rs. 81.800
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest:
CC: 6.50% above
base rate. TL: On conversion
to base rate 6.00% above base rate Terms of
repayment: CC : On demand TL: As per
Agreement Margin: FG: 25% Receivables
(90days): 40% NFB: 10% (Cash) Extent and
Operation of charge: As per Agreement |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
FBWC:
Hypothecation of company's entire current assets including stocks. spare
parts, receivables and other current assets (both present and future) TL: Hypothecation
of assets created out of bank finance. Collateral
Security: 1. EM of
residential Plat at 183, Sector 6, Panchkula measuring 893 sq. mts. (having
boundary wall) 2. EM of Plot no.
45, Saraswat Kunj Co-operative Group Housing Society Limited, Wazirabad,
Gurgaon (Haryana), measuring 547 sq. yards. Above both in the
name of Sh. Puneet Gupta. |
|
Particulars of
the present modification |
The Working
Capital limit of the company has been from Rs. 73.000 millions to Rs. 81.800
millions. |
FIXED ASSETS:
- Agricultural
Land
- Machinery
- Furniture and
Fixtures
- Office
Equipments
- Electric
Equipment and Installation
- Car
- Scooter
- Computers
- Truck, Tanks
and Trailers
- Air
Conditioner
WEBSITE DETAILS:
PROFILE
Subject is part of Prabha group
of companies a corporate with USD 10 million turnover. They are in business of
Hotels, Automobiles, Distribution, and Import.
The L'comps venture is a joint effort of a group of highly
qualified, experienced, young and dynamic professionals from the Engineering
and Marketing stream, who have worked for leading Indian and multinational
companies. They have been present in the Indian market for the last 35 years. A
young group, waiting in the wings to take off, L'COMPS represents a highly
professional and pragmatic approach to conducting trade with foreign companies
and customers. Each area they deal in is individually strong because of its
depth and the capabilities of their partners. Yet the group's overall strength
comes from the collaboration among these individuals, uniting their energies
and capabilities to solve complex problems.
· L-Comps has been in the market since 1971.
· Has a strong financial background.
· Group turnover USD 10 million.
· National presence with 5 offices.
· Retail reach of over 5000 A, B+ class outlets.
· Proven track record.
· They have an experience of over 10 years in importing.
· They have an excellent relation with all major retailers.
· Promoted by engineers and MBA with a over 20 years experience.
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.53.02 |
|
|
1 |
Rs.82.34 |
|
Euro |
1 |
Rs.68.99 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.