MIRA
INFORM REPORT
|
Report Date : |
25.02.2011 |
IDENTIFICATION DETAILS
|
Name : |
NORTH INDIA TOP COMPANY PRIVATE LIMITED |
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Registered
Office : |
D-18/1, Okhla Industrial Area, Phase Indus, New Delhi-110 020, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
25.09.1995 |
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Com. Reg. No.: |
55-72711 |
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CIN No.: [Company Identification
No.] |
U74899DL1995PTC072711 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELN08317B |
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PAN No.: [Permanent Account No.] |
AAACN2975Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Exporter of Home Appliances, Audio Video products, Kids products. |
RATING & COMMENTS
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MIRA’s Rating : |
B (31) |
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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 42000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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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 fair. Business
is active. Payments are reported to be slow. The company can be considered for business dealings with some
cautions. |
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) |
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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 |
INFORMATION PARTED BY
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Name : |
Mr. Sanjiv Mehta |
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Designation : |
Director |
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Contact No.: |
91-11-26814109 |
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Date : |
24.02.2011 |
LOCATIONS
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Registered Office : |
D-18/1, Okhla Industrial Area, Phase Indus, New Delhi-110 020, |
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Tel. No.: |
91-11-26814109 |
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Fax No.: |
91-11-26814422 |
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E-Mail : |
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Website : |
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Area : |
2500 sq. ft. (Approximately) |
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Location : |
Owned |
DIRECTORS
As on 30.09.2010
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Name : |
Mr. Sat Paul Mehra |
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Designation : |
Director |
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Address : |
W-64, Greater Kailash-II, New Delhi-110 048, |
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Date of Birth/Age : |
24.01.1938 |
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Date of Appointment : |
25.09.1995 |
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Name : |
Mr. Sanjiv Mehra |
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Designation : |
Director |
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Address : |
W-64, Greater Kailash-II, New Delhi-110 048, |
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Date of Birth/Age : |
31.07.1962 |
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Date of Appointment : |
25.09.1995 |
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Name : |
Mr. Rajiv Mehra |
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Designation : |
Director |
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Address : |
W-64, Greater Kailash-II, New Delhi-110 048, |
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Date of Birth/Age : |
30.01.1966 |
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Date of Appointment : |
27.09.1995 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Sat Paul Mehra |
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10 |
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Sanjiv Mehra |
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562010 |
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Rajiv Mehra |
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213010 |
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Total |
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775030 |
As on 30.09.2010
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Equity Share Breakup |
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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
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Line of Business : |
Exporter of Home Appliances, Audio Video products, Kids products. |
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Exports : |
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Products : |
·
Home Appliances ·
Audio Video products ·
Kids products. |
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Countries : |
Europe, |
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Terms : |
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Selling : |
L/C, Cash and Credit (30 to 60 to 90 Days) |
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Purchasing : |
Cash and Credit (30 to 60 to 90 Days) |
GENERAL INFORMATION
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Customers : |
·
Wholesalers ·
Retailers ·
End Users ·
OEM’s |
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No. of Employees : |
20 (Approximately) |
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Bankers : |
·
State Bank of ·
State Bank of ·
Vijaya Bank ·
HDFC Bank |
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Facilities : |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
Akash Jain and Associates Chartered Accountants |
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Address : |
4837/1, 24 No., |
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Tel. No.: |
91-11-23287426 |
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Mobile No.: |
91-9810005041 |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1300000 |
Equity Shares |
Rs.10/- Each |
Rs.13.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
775030 |
Equity Shares |
Rs.10/- Each |
Rs.7.750
Millions |
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 |
7.750 |
0.100 |
0.100 |
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2] Share Application Money |
1.150 |
7.650 |
6.998 |
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3] Reserves & Surplus |
1.523 |
0.541 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
(1.253) |
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NETWORTH |
10.423 |
8.291 |
5.845 |
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LOAN FUNDS |
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1] Secured Loans |
21.224 |
18.508 |
21.600 |
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2] Unsecured Loans |
16.806 |
10.536 |
0.000 |
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TOTAL BORROWING |
38.030 |
29.044 |
21.600 |
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DEFERRED TAX LIABILITIES |
0.006 |
0.004 |
0.000 |
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TOTAL |
48.459 |
37.339 |
27.445 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
35.291 |
33.014 |
25.557 |
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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 |
0.443 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
14.852
|
4.532 |
5.652 |
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Sundry Debtors |
3.874
|
0.669 |
0.241 |
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Cash & Bank Balances |
0.174
|
0.119 |
1.703 |
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Other Current Assets |
0.022
|
0.010 |
0.000 |
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Loans & Advances |
0.721
|
0.467 |
0.970 |
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Total
Current Assets |
19.643
|
5.797 |
8.566 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
5.312
|
0.723 |
3.741 |
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Other Current Liabilities |
0.000
|
0.278 |
3.500 |
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Provisions |
1.235
|
0.584 |
0.031 |
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Total
Current Liabilities |
6.547
|
1.585 |
7.272 |
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Net Current Assets |
13.096
|
4.212 |
1.294 |
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MISCELLANEOUS EXPENSES |
0.072 |
0.113 |
0.151 |
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TOTAL |
48.459 |
37.339 |
27.445 |
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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 |
47.872 |
26.560 |
8.903 |
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Less |
EXPENSES |
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TOTAL |
46.368 |
24.046 |
7.427 |
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PROFIT BEFORE
TAX |
1.504 |
2.514 |
1.476 |
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Less |
TAX |
0.522 |
0.717 |
NA |
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PROFIT AFTER TAX
|
0.982 |
1.797 |
NA |
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Earnings Per
Share (Rs.) |
1.27 |
250.68 |
- |
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Expected Sales (2010-2011) : Rs.60.000 Millions
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.05
|
6.77 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.74
|
6.48 |
4.33 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.14
|
0.30 |
0.25 |
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Debt Equity Ratio (Total Liability/Networth) |
|
4.28
|
3.69 |
4.91 |
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Current Ratio (Current Asset/Current Liability) |
|
3.00
|
3.66 |
1.18 |
LOCAL AGENCY FURTHER INFORMATION
Details of Sundry Creditors:
|
Particulars |
31.03.2010 (Rs. in millions) |
31.03.2009 (Rs. in millions) |
31.03.2008 (Rs. in millions) |
|
Sundry Creditors |
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Trade Creditors |
4.863 |
0.000 |
3.296 |
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Other Creditors |
0.449 |
0.723 |
0.445 |
OPERATING RESULTS
The company has
earned a profit of Rs.1.504 millions (Previous year Profit of Rs.2.514
millions) before provision for tax on a turnover of Rs.47.872 millions
(Previous year Rs.26.427 Millions).
Trade Reference:
·
TV 18 Home Shopping Network private Limited
·
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U74899DL1995PTC072711 |
|
Name of the
company |
NORTH INDIA TOP COMPANY
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
D-18/1, Okhla Industrial Area, Phase Indus, New Delhi-110 020, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Book Debts Others First charge over
current assets. |
|
Particular of
charge holder |
State Bank of |
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Nature of
description of the instrument creating or modifying the charge |
Agreement of
hypothecation of goods and assets. |
|
Date of
instrument Creating the charge |
01.01.2011 |
|
Amount secured by
the charge |
Rs.30.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest CC (HYP.) - Rate
of Interest @ 15.30% p.a. Terms of
Repayment Payable on
demand. Margin Raw Materials -
25% Book
Debts/Receivables - 50% Extent and Operation
of the charge 100% |
|
Short particulars
of the property charged |
Hypothecation by
way of first and exclusive charge over all present and future current assets
of the company stored or to be stored at the company's godowns or premises or
wherever else the same may be. |
FIXED ASSETS:
·
Furniture and Fixture
·
Electrical Appliances
·
Air Conditioner
·
Laptop
·
Office Equipment
·
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.45.37 |
|
|
1 |
Rs.73.54 |
|
Euro |
1 |
Rs.62.39 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
31 |
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.