MIRA
INFORM REPORT
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Report Date : |
13.01.2011 |
IDENTIFICATION DETAILS
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Name : |
BALAJI HYUNDAI AUTO PRIVATE LIMITED |
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Registered
Office : |
C.T. Marg, |
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Country : |
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Financials (as
on) : |
31.03.2009 |
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Date of
Incorporation : |
26.09.2006 |
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Com. Reg. No.: |
03-12679 |
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CIN No.: [Company Identification
No.] |
U50103BR2006PTC012679 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
PTNB03346A |
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PAN No.: [Permanent Account No.] |
AACCB9568K |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
: |
Trader and Dealer of Automobiles, Motor Cars, Van and Motor Cycles. |
RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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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 55000 |
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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. There appears
some accumulated losses recorded by the company. However trade relations are
reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with some caution.
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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 (GENERAL DETAILS)
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Name : |
Mr. Shakti Sharma |
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Designation : |
Director |
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Contact No.: |
91-621-2240344 |
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Date : |
12.01.2011 |
LOCATIONS
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Registered Office : |
C.T. Marg, |
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Tel. No.: |
91-621-2240344 |
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E-Mail : |
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Area : |
2000 sq.ft. (Owned) |
DIRECTORS
As on 30.09.2009
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Name : |
Mr. Shanti S Sharma |
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Designation : |
Chairman cum Managing Director |
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Address : |
C.T. Marg, |
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Date of Birth/Age : |
02.11.1959 |
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Date of Appointment : |
29.09.2006 |
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Other Directorship: |
Sharma Cold Storage and Ice Factory Private Limited U00074BR1979PTC001392 Janta Hotels Private Limited U00095BR1986PTC002436 |
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Other Proprietorship: |
Balajee Tractors |
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Name : |
Mr. Shakti Swarup Sharma |
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Designation : |
Director |
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Address : |
C.T. Marg, |
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Date of Birth/Age : |
31.01.1966 |
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Date of Appointment : |
29.09.2006 |
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Name : |
Mrs. Sumitra Sharma |
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Designation : |
Director |
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Address : |
C.T. Marg, |
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Date of Birth/Age : |
17.08.1935 |
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Date of Appointment : |
26.09.2006 |
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Other Directorship: |
Sharma Cold Storage and Ice Factory Private Limited U00074BR1979PTC001392 Janta Hotels Private Limited U00095BR1986PTC002436 |
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Name : |
Mrs. Meera Sharma |
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Designation : |
Director |
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Address : |
C.T. Marg, |
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Date of Birth/Age : |
16.08.1966 |
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Date of Appointment : |
26.09.2009 |
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Other Directorship: |
Janta Hotels Private Limited U00095BR1986PTC002436 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2009
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Names of Shareholders |
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No. of Shares |
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Shanti Swarup Sharma |
|
500 |
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Shakti Swarup Sharma |
|
500 |
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Sumitra Sharma |
|
500 |
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Meera Sharma |
|
500 |
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Total |
|
2000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2009
|
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 : |
Trader and Dealer of Automobiles, Motor Cars, Van and Motor Cycles. |
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Terms : |
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Selling : |
Cash and Credit ( 30 Days) |
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Purchasing : |
Cash and Credit ( 30 Days) |
GENERAL INFORMATION
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Customers : |
End Users and OEM’s |
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No. of Employees : |
Approximately 40 (In Office) |
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Bankers : |
Punjab National Bank, |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Chartered Accountant |
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Address : |
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CAPITAL STRUCTURE
As on 31.03.2009
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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150000 |
Equity Shares |
Rs. 100/- each |
Rs. 15.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
2000 |
Equity Sharers |
Rs. 100/-
each |
Rs. 0.200
Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2009 |
31.03.2008 |
31.03.2007 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.200 |
0.200 |
0.200 |
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2] Share Application Money |
14.766 |
14.716 |
5.016 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
[1.127] |
[0.184] |
0.000 |
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NETWORTH |
13.839 |
14.732 |
5.216 |
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LOAN FUNDS |
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1] Secured Loans |
27.437 |
20.951 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
27.437 |
20.951 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
41.276 |
35.683 |
5.216 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
27.357 |
26.654 |
4.767 |
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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 |
0.005 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
6.942
|
6.278 |
0.000 |
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Sundry Debtors |
3.479
|
0.392 |
0.000 |
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Cash & Bank Balances |
2.626
|
0.876 |
0.018 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
7.405
|
3.490 |
0.250 |
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Total
Current Assets |
20.452
|
11.036 |
0.268 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
0.465
|
0.692 |
0.000 |
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Other Current Liabilities |
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|
0.006 |
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Provisions |
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Total
Current Liabilities |
6.672
|
2.186 |
0.006 |
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Net Current Assets |
13.780
|
8.850 |
0.262 |
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MISCELLANEOUS EXPENSES |
0.134 |
0.179 |
0.187 |
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TOTAL |
41.276 |
35.683 |
5.216 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2009 |
31.03.2008 |
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SALES |
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Income (Turnover) |
|
103.500 |
1.335 |
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Other Income |
|
NA |
0.209 |
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TOTAL |
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NA |
1.544 |
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Less |
EXPENSES |
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Cost of Goods Soled |
|
0.000 |
1.318 |
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Bank charges |
|
0.000 |
0.020 |
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Advertising Expenses |
|
0.000 |
0.024 |
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Salary and Wages |
|
0.000 |
0.065 |
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Preliminary Expense written off |
|
0.000 |
0.045 |
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Other Expenses |
|
0.000 |
0.254 |
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TOTAL |
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NA |
1.726 |
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PROFIT BEFORE
TAX |
|
[0.930] |
[0.182] |
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Less |
TAX |
|
[0.807] |
0.001 |
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PROFIT AFTER TAX
|
|
[0.123] |
[0.184] |
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Earnings Per
Share (Rs.) |
|
471.66 |
-- |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
NA
|
[11.92] |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
[0.90]
|
[13.63] |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
[1.95]
|
[0.48] |
NA |
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Return on Investment (ROI) (PBT/Networth) |
|
[0.07]
|
[0.01] |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
|
2.46
|
1.57 |
0.00 |
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Current Ratio (Current Asset/Current Liability) |
|
3.07
|
5.05 |
44.67 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
|
Particulars |
31.03.2009 |
31.03.2008 |
31.03.2007 |
|
Sundry Creditors |
0.465 |
0.692 |
0.000 |
|
Total |
0.465 |
0.692 |
0.000 |
Financial and
Accounts:
The company has achieved a turnover of Rs. 103.500 Millions and incurred
a net loss of Rs. 0.930 Million. The loss is due to depreciation and cash loss during
the year amount to negligible amount of Rs. 0.123 Million only.
It is felt that the company will earn profit in next year and the loss
incurred will be set off and surplus will be available.
Bankers Charges
Report as per Registry
|
Corporate identity
number of the company |
U50103BR2006PTC012679 |
|
Name of the
company |
BALAJI HYUNDAI AUTO PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
C.T. Marg, |
|
This form is for |
Creation of
Charge |
|
Type of charge |
Immovable Property Movable Property Floating Charges |
|
Particular of
charge holder |
Punjab National Bank, |
|
Nature of
instrument creating charge |
Term Loan
Agreement Against Sanction of Term Loan of Rs. 12.500 Millions. Agreement of
hypothecation to secure demand cash credit against Goods of Rs. 27.500
Millions |
|
Date of
instrument Creating the charge |
15.03.2010 |
|
Amount secured by
the charge |
Rs. 40.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest On Term loan of Rs.
12.500 Millions, Interest rate BPLR + 2.5% + 0.50% T.P i.e 14% On Demand cash
credit : Interest rate BPLR – 50% i.e. 10.50% Terms of
Repayment For Term Loan 48
months Margin 30% on Term Loan 30% on Cash
Credit Extent and
Operation of the charge For Term Loan
hypothecation of machineries, tools, furniture and fixture etc. for demand
cash credit hypothecation of stocks |
|
Short particulars
of the property charged |
For Term Loan registered
mortgaged Land, Hypothecation of machineries, tools, furniture and fixtures
etc for demand cash credit hypothecation of stocks. |
Fixed Assets:
·
Building under
construction
·
Plant and Machinery
·
Computer
·
Furniture
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.45.16 |
|
|
1 |
Rs.70.64 |
|
Euro |
1 |
Rs.58.68 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
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.