BUSINESS INFORMATION REPORT
1. Summary Information
|
|
|
Country |
|
|
Company Name |
LEX INTERNATIONAL PRIVATE LIMITED |
Principal Name 1 |
MR. RAJEEV SURI |
|
Status |
GOOD |
Principal Name 2 |
MRS. SARITA SURI |
|
|
|
Registration # |
20-028361 |
|
Street Address |
86/ 300-A, RAIPURWA, |
||
|
Established Date |
03.03.2004 |
SIC Code |
-- |
|
Telephone# |
91-512-2520186 |
Business Style 1 |
EXPORTER |
|
Fax # |
91-512-2520188 |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
LEATHER ITEMS |
|
# of employees |
-- |
Product Name 2 |
-- |
|
Paid up capital |
Rs.100,000/- |
Product Name 3 |
-- |
|
Shareholders |
DIRECTORS
OR RELATIVES OF DIRECTORS – 100% |
Banking |
CANARA BANK |
|
Public Limited Corp. |
NO |
Business Period |
6 YEARS |
|
IPO |
NO |
International Ins. |
-- |
|
Public |
NO |
Rating |
A (64) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
153,000,000
|
Current Liabilities |
72,148,000
|
|
Inventories |
11,623,000
|
Long-term Liabilities |
905,000 |
|
Fixed Assets |
26,276,000 |
Other Liabilities |
4,335,000
|
|
Deferred Assets |
0,000 |
Total Liabilities |
77,388,000 |
|
Invest& other Assets |
28,307,000 |
Retained Earnings |
141,718,000 |
|
|
|
Net Worth |
141,818,000 |
|
Total Assets |
219,206,000 |
Total Liab. & Equity |
219,206,000 |
|
Total Assets (Previous Year) |
189,707,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Total Income |
222,375,000 |
Net Profit |
21,673,000 |
|
Total Income (Previous
yr) |
238,167,000 |
Net Profit(Prev.yr) |
26,691,000 |
MIRA
INFORM REPORT
|
Report Date : |
22.02.2011 |
IDENTIFICATION DETAILS
|
Name : |
LEX INTERNATIONAL PRIVATE LIMITED |
|
|
|
|
Registered Office : |
86/ 300-A, Raipurwa, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
03.03.2004 |
|
|
|
|
Com. Reg. No.: |
20-028361 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U19123UP2004PTC028361 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
KNPL01109D |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACL9654N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Exporter of Leather Items. |
RATING & COMMENTS
|
MIRA’s Rating : |
A (64) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
USD 567000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established and a reputed company having fine track.
Financial position of the company appears to be sound. 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 – April 1, 2010
|
Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
86/ 300-A, Raipurwa, |
|
Tel. No.: |
91-512-2520186 |
|
Fax No.: |
91-512-2520188 |
|
E-Mail : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Rajeev Suri |
|
Designation : |
Director |
|
Address : |
R/o. 113/36-A, Swaroop Nagar, |
|
Date of Birth/Age : |
04.11.1954 |
|
Date of Appointment : |
30.03.2004 |
|
DIN No.: |
00239046 |
|
|
|
|
Name : |
Mrs. Sarita Suri |
|
Designation : |
Director |
|
Address : |
R/o. 113/36-A, Swaroop Nagar, |
|
Date of Birth/Age : |
11.06.1961 |
|
Date of Appointment : |
30.03.2004 |
|
DIN No.: |
00239088 |
|
|
|
|
Name : |
Mr. Rohan Suri |
|
Designation : |
Director |
|
Address : |
R/o. 113/36-A, Swaroop Nagar, |
|
Date of Birth/Age : |
22.02.1985 |
|
Date of Appointment : |
02.08.2004 |
|
DIN No.: |
01321897 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Rajeev Suri |
5000 |
|
Savita Suri |
5000 |
|
Total |
10000 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Exporter of Leather Items. |
|
|
|
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||
|
|
|
|||||||||
|
Customers : |
|
|||||||||
|
|
|
|||||||||
|
Bankers : |
|
|||||||||
|
|
|
|||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Batra Agrawal Associates Chartered Accountants |
|
Address : |
15/79 (2), Civil Lines, |
|
Tel. No.: |
91-512-2375901/ 2333269 |
|
Fax No.: |
91-512-2375901 |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 millions |
|
|
|
|
|
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 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
141.718 |
120.172 |
94.504 |
|
|
4]( Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
141.818 |
120.272 |
94.604 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.905 |
6.700 |
4.465 |
|
|
TOTAL BORROWING |
0.905 |
6.700 |
4.465 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
142.723 |
126.972 |
99.069 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
26.276 |
25.650 |
21.636 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
28.257 |
16.881 |
12.500 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
11.623
|
23.523
|
20.372 |
|
|
Sundry Debtors |
28.685
|
15.984
|
44.452 |
|
|
Cash & Bank Balances |
118.811
|
102.443
|
54.023 |
|
|
Other Current Assets |
0.508
|
0.504
|
0.499 |
|
|
Loans & Advances |
4.996
|
4.659
|
13.795 |
|
Total
Current Assets |
164.623
|
147.113
|
133.141 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
70.184
|
55.439 |
57.894 |
|
|
Other Current Liabilities |
1.964
|
2.477
|
2.233 |
|
|
Provisions |
4.335
|
4.819
|
8.157 |
|
Total
Current Liabilities |
76.483
|
62.735
|
68.284 |
|
|
Net Current Assets |
88.140
|
84.378
|
64.857 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.050 |
0.063 |
0.076 |
|
|
|
|
|
|
|
|
TOTAL |
142.723 |
126.972 |
99.069 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
|
|
|
|
|
Income |
222.375 |
238.167 |
268.513 |
|
|
|
Other Income |
|
|
28.951 |
|
|
|
TOTAL |
222.375 |
238.167 |
297.464 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
188.974 |
|
182.315 |
|
|
|
Development Charges |
|
|
0.634 |
|
|
|
Electricity, Power & Fuel |
|
|
4.417 |
|
|
|
Brass Fitting Polishing |
|
|
0.056 |
|
|
|
Freight & Cartage |
|
|
0.377 |
|
|
|
Wages & HRA & Leave ENC |
|
|
18.044 |
|
|
|
Other Expenses |
|
|
42.035 |
|
|
|
TOTAL |
188.974 |
196.834 |
247.878 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
37.487 |
45.200 |
49.586 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
4.086 |
3.867 |
3.555 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
33.401 |
41.333 |
46.031 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
11.728 |
14.642 |
16.040 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
21.673 |
26.691 |
28.991 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
222.375 |
238.167 |
268.513 |
|
|
TOTAL EARNINGS |
222.375 |
238.167 |
268.513 |
|
|
|
|
|
|
|
|
|
|
IMPORT VALUE |
19.363 |
23.283 |
37.199 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2167.00 |
2669.10 |
2941.00 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
9.75
|
11.21
|
9.75 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA
|
17.14 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
17.50
|
23.92
|
29.74 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.34
|
0.49 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.55
|
0.58
|
0.77 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.15
|
2.34
|
1.95 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The registered office of the company has been shifted from 113 / 36 –
Aswaroop Nagar,
FIXED ASSETS:
·
Auto Three Wheelers
·
Building Construction
·
Cars
·
Close Circuit TV
·
Computers
·
Cycles
·
E. P. B. X.
·
Electrical Fittings
·
Fire Fighting System
·
Furniture and Fixtures
·
Generators
·
Imported Machinery
·
Imported Mould
·
Mobilink Pager
·
Modi Pager
·
Mopeds
·
Motor Cycle
·
Moulds and Dies
·
Office Equipments
·
Phone and
·
Photocopy Machine
·
Plant and Machinery
·
Scooters
·
Splitting Machines
·
Trade Mark
·
Imported Machinery
·
Generators
·
Splitting Machines
·
Moulds and Dies
·
Scooters
·
Cycles
·
Electrical Fittings
·
Furniture and Fixtures
·
Machinery
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.45.20 |
|
|
1 |
Rs.73.07 |
|
Euro |
1 |
Rs.61.41 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
7 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
7 |
|
--PROFITABILIRY |
1~10 |
8 |
|
--LIQUIDITY |
1~10 |
8 |
|
--LEVERAGE |
1~10 |
7 |
|
--RESERVES |
1~10 |
8 |
|
--CREDIT LINES |
1~10 |
7 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--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 |
|
64 |
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.