Business
information report
1. Summary Information
|
|
|
Country |
India |
|
Company Name |
ASIX CORPORATION |
Principal Name 1 |
Mr. Sunil Brijmohan Bansal |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Akash Mohan Gupta |
|
|
|
Registration # |
|
|
Street Address |
Shanta Arcade, G P 62, Thermax Chowk, Chinchwad, Pune 411019,
Maharashtra |
||
|
Established Date |
28.04.2009 |
SIC Code |
-- |
|
Telephone# |
91-20-64107285, 32525062, 27370173 |
Business Style 1 |
Dealer and Importer of Synthetic Rubbers and Chemicals |
|
Fax # |
91-20-27370174 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
-- |
|
|
# of employees |
10 Approximately |
Product Name 2 |
-- |
|
Paid up capital |
Rs.12,437,000 |
Product Name 3 |
-- |
|
Shareholders |
-- |
Banking |
Axis Bank Limited |
|
Public Limited Corp. |
-- |
Business Period |
2 years |
|
IPO |
-- |
International Ins. |
- |
|
Public |
-- |
Rating |
Ba (45) |
|
Related
Company |
|||
|
Relation
|
Associates/Subsidiaries |
Company
Name |
K K Enterprises (Trading Unit) |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
17,549,000 |
Current Liabilities |
2,738,000 |
|
Inventories |
5,730,000 |
Long-term Liabilities |
8,929,000 |
|
Fixed Assets |
825,000 |
Other Liabilities |
0 |
|
Deferred Assets |
0 |
Total Liabilities |
11,667,000 |
|
Invest& other Assets |
0 |
Retained Earnings |
0 |
|
|
0 |
Net Worth |
12,437,000 |
|
Total Assets |
24,104,000 |
Total Liab. & Equity |
24,104,000 |
|
Total Assets (Previous Year) |
19,843,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
48,872,000 |
Net Profit |
3,942,000 |
|
Sales(Previous yr) |
10,111,000 |
Net Profit(Prev.yr) |
107,000 |
MIRA
INFORM REPORT
|
Report Date : |
27.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
ASIX CORPORATION |
|
|
|
|
Registered
Office : |
Shanta Arcade, G P 62, Thermax Chowk, Chinchwad, Pune 411019,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
28.04.2009 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.12.437 millions |
|
|
|
|
IEC No.: |
3109005263 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAQFA1268E |
|
|
|
|
Legal Form : |
Partnership Concern with an unlimited liability of the partners |
|
|
|
|
Line of Business
: |
Dealer and Importer of Synthetic Rubbers and Chemicals |
|
|
|
|
No. of Employees
: |
10 Approximately |
RATING & COMMENTS
|
MIRAs Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 49740 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively new partnership concern having satisfactory
track. Partners are reported to be an experiences businessman. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually corret and as per commitments. The concern 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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Sunil Brijmohan Bansal |
|
Designation : |
Partner |
|
Contact No.: |
91-9822015231 |
|
Date : |
24.12.2011 |
LOCATIONS
|
Registered Office/Factory : |
Shanta Arcade, G P 62, Thermax Chowk, Chinchwad, Pune 411019,
Maharashtra, India |
|
Tel. No.: |
91-20-64107285, 32525062, 27370173 |
|
Mobile No.: |
91-9822015231 (Mr. Sunil Brijmohan Bansal) |
|
Fax No.: |
91-20-27370174 |
|
E-Mail : |
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|
Website : |
|
|
Location : |
Owned |
PARTNERS
|
Name : |
Mr. Sunil Brijmohan Bansal |
|
Designation : |
Partner |
|
Date of Birth/Age : |
38 years |
|
Qualification : |
B. Com |
|
Experience : |
15 years |
|
|
|
|
Name : |
Mr. Akash Mohan Gupta |
|
Designation : |
Partner |
|
Date of Birth/Age : |
25 years |
|
Qualification : |
MBA |
|
Experience : |
4 years |
|
|
|
|
Name : |
Mrs. Rani Kamalraj Bansal |
|
Designation : |
Partner |
|
Date of Birth/Age : |
45 years |
|
Experience : |
22 years |
|
|
|
|
Name : |
Mrs. Usha Mohan Gupta |
|
Designation : |
Partner |
|
Date of Birth/Age : |
46 years |
|
Experience : |
23 years |
|
|
|
|
Name : |
Mr. Mohan Gupta |
|
Designation : |
Partner |
|
Date of Birth/Age : |
48 years |
|
Qualification : |
B. Sc. |
|
Experience : |
25 years |
|
|
|
|
Name : |
Mr. Kamalraj Bansal |
|
Designation : |
Partner |
|
Date of Birth/Age : |
48 years |
|
Qualification : |
B. Sc. |
|
Experience : |
25 years |
BUSINESS DETAILS
|
Line of Business : |
Dealer and Importer of Synthetic Rubbers and Chemicals |
|
|
|
|
Brand Name: |
Vamac, Viton, Neoprene |
|
|
|
|
Agencies Held : |
Dupont Performance Elastomers (USA) |
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|
|
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Imports : |
|
|
Products : |
Synthetic Rubbers and Chemicals |
|
Countries : |
Russia, SA, USA, Poland, China, Republic of Korea and Other Europe and
Asian countries |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash |
|
|
|
|
Purchasing : |
L/C, Cash |
GENERAL INFORMATION
|
Customers : |
·
End Users ·
OEMs |
|
|
|
|
No. of Employees : |
10 Approximately |
|
|
|
|
Bankers : |
Axis Bank Limited, Pune, Maharashtra, India |
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|
|
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Name : |
L.B. Laddha and Company Chartered Accountant |
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Address : |
2nd Floor, Sukhwani Chambers, Station Road, Pimpri Pune
411018, Maharashtra, India |
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|
Tel. No.: |
91-20-27426966 |
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E-Mail : |
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Associates/Subsidiaries : |
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CAPITAL STRUCTURE
AS ON 31.03.2011
|
Capital Investment |
Rs.
In Millions |
|
Partner's
Capital Investment : |
Rs.12.437 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Partners Capital |
|
12.437 |
2.011 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
12.437 |
2.011 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.616 |
0.000 |
|
|
2] Unsecured Loans |
|
8.313 |
11.140 |
|
|
TOTAL BORROWING |
|
8.929 |
11.140 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
21.366 |
13.151 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.825 |
0.000 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
5.730 |
8.317 |
|
|
Sundry Debtors |
|
14.026 |
8.094 |
|
|
Cash & Bank Balances |
|
2.343 |
0.986 |
|
|
Other Current Assets |
|
1.180 |
2.446 |
|
|
Loans & Advances |
|
0.000 |
0.000 |
|
Total
Current Assets |
|
23.279 |
19.843 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
0.000 |
0.000 |
|
|
Other Current Liabilities |
|
0.638 |
6.667 |
|
|
Provisions |
|
2.100 |
0.025 |
|
Total
Current Liabilities |
|
2.738 |
6.692 |
|
|
Net Current Assets |
|
20.541 |
13.151 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
21.366 |
13.151 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
|
48.872 |
10.111 |
|
|
|
Other Income |
|
0.696 |
0.000 |
|
|
|
TOTAL (A) |
|
49.568 |
10.111 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Materials |
|
40.489 |
8.373 |
|
|
|
Administrative Expenses |
|
1.364 |
0.969 |
|
|
|
TOTAL (B) |
|
41.853 |
9.342 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
7.715 |
0.769 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
1.577 |
0.637 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
6.138 |
0.132 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.096 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
6.042 |
0.132 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
2.100 |
0.025 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
3.942 |
0.107 |
|
|
|
|
|
|
|
|
|
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IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
|
23.339 |
12.823 |
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
-- |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
|
7.95 |
1.05 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
12.36 |
1.30 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
25.06 |
0.66 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.48 |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
0.93 |
8.86 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
8.50 |
2.96 |
LOCAL AGENCY FURTHER INFORMATION
Not Available
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 Intl
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 companys 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.52.82 |
|
|
1 |
Rs.82.47 |
|
Euro |
1 |
Rs.68.93 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--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 |
|
45 |
This score serves as a reference to assess SCs 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.