MIRA
INFORM REPORT
|
Report Date : |
07.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
HI GLO HOLO IMAGES PRIVATE LIMITED |
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Registered Office : |
Vill Rauni, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
07.02.1995 |
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Com. Reg. No.: |
16-15749 |
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Capital
Investment / Paid-up Capital : |
Rs.3.310 millions |
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CIN No.: [Company
Identification No.] |
U22219PB1995PTC015749 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
PTLH10766A |
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PAN No.: [Permanent
Account No.] |
AAACH4407R |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter, Importer of Holograms, Holographic Solutions
and labels.
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No. of Employees
: |
17 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 30000 |
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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 a relatively small company having moderate track records. Profitability
of the company appears to be under pressure. 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
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 |
|
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
|
Name : |
Mr. Arun |
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Designation : |
Director |
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Contact No.: |
91-9814423278 |
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Date : |
28.06.2011 |
LOCATIONS
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Registered Office / Factory : |
Vill Rauni, |
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Tel. No.: |
91-175-2366852/6536852 / 2365691 |
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Mobile No.: |
91-9814423278 (Mr. A. K. Gupta) |
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Fax No.: |
91-175-2366998 |
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E-Mail : |
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Area : |
2500 Sq. ft. |
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Location : |
Owned |
DIRECTORS
As on : 30.09.2010
|
Name : |
Mr. Arun Gupta |
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Designation : |
Managing Directors |
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Address : |
# Gobind Cotton Factory, Nabha |
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Date of Birth/Age : |
09.01.1951 |
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Qualification : |
M. sc. |
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Date of Appointment : |
07.02.1995 |
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Name : |
Mrs. Suman Gupta |
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Designation : |
Director |
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Address : |
32, Green View Colony, |
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Date of Birth/Age : |
14.08.1951 |
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Qualification : |
B. Sc |
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Date of Appointment : |
07.02.1995 |
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Name : |
Mr. Sandeep Gupta |
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Designation : |
Director |
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Address : |
12, Urban Estate, Phase – 1, |
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Date of Birth/Age : |
07.07.1968 |
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Qualification : |
B. |
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Date of Appointment : |
01.04.1995 |
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Name : |
Mr. Balbir Chand |
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Designation : |
Director |
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Address : |
Preet Vihar, Near Tempo |
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Date of Birth/Age : |
01.06.1947 |
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Date of Appointment : |
26.10.1998 |
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Name : |
Mrs. Vidya Sagar |
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Designation : |
Director |
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Address : |
32, Green View Colony, |
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Date of Birth/Age : |
15.06.1949 |
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Date of Appointment : |
26.10.1998 |
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Name : |
Mr. Pradeep Chaudhary |
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Designation : |
Director |
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Address : |
# C- 13/6, DLF, Phase I, Gurgaon, Haryana |
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Date of Birth/Age : |
04.07.1956 |
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Date of Appointment : |
26.10.1998 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Arun Kumar Gupta |
|
67630 |
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Suman Gupta |
|
58450 |
|
Parul Chaudhary |
|
32000 |
|
Sunita Gupta |
|
6700 |
|
Sandeep Gupta |
|
16550 |
|
Rajan Singla |
|
16550 |
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Aditya Jindal |
|
16550 |
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Madhur Gupta |
|
670 |
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Sheena Gupta |
|
200 |
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Vinod Gupta |
|
13500 |
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Shikha Gupta |
|
750 |
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Jagatbir Singh Kang |
|
16550 |
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Kalawati |
|
17600 |
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Piyush chowdhary |
|
1100 |
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Arvind Kumar |
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33100 |
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Abhimanyu |
|
4150 |
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Ambrish |
|
10250 |
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Vidya Sagar |
|
2020 |
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Dayawanti |
|
130 |
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P K Chowdhary |
|
16550 |
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Total |
|
331000 |
As on 30.09.2010
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Equity Share Breakup |
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Percentage of Holding |
|
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 : |
Manufacturer, Exporter, Importer of Holograms, Holographic Solutions
and labels.
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Products : |
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Exports : |
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Products : |
v Holograms v
Labels |
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Countries : |
v USA v Dubai v Pakistan |
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Imports : |
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Products : |
Machinery |
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Countries : |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
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Customers : |
End Users, OEM’s, Pharma Industry v
Abhishek Graphics v
Abhishek Industries Limited v
Alpine Poly Rub Private Limited v
Anand Industries Pta v
Cyco Exports Private Limited v
Elder Health Care Limited v
Nakoda Meters v
Naam Biotech v
Print Pack, v
Shree Krishan Graphics v
Sprint Packers v
VHS Papers Products v
Visine instruments, Ambala v
Sheetal Cosmetics v
Sprint Packers |
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No. of Employees : |
17 (Approximately) |
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Bankers : |
State Bank of |
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Facilities : |
Cash Credit :- Rs.1.800 millions
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Banking
Relations : |
--- |
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Auditors : |
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Name : |
Goyal Mahajan and Company Chartered Accountants |
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Address : |
Leela Bhawan Complex, |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
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|
400000 |
Equity Shares |
Rs.10/- each |
Rs.4.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
331000 |
Equity Shares |
Rs.10/- each |
Rs.3.310
millions |
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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 |
3.310 |
3.310 |
3.310 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
4.180 |
4.227 |
4.694 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
7.490 |
7.537 |
8.004 |
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LOAN FUNDS |
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1] Secured Loans |
0.091 |
0.275 |
0.907 |
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2] Unsecured Loans |
1.987 |
1.987 |
1.987 |
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TOTAL BORROWING |
2.078 |
2.262 |
2.894 |
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DEFERRED TAX LIABILITIES |
0.915 |
0.853 |
1.102 |
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TOTAL |
10.483 |
10.652 |
12.000 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
6.818 |
6.563 |
7.199 |
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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 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
1.390
|
1.141
|
1.652 |
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Sundry Debtors |
3.276
|
2.749
|
3.651 |
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Cash & Bank Balances |
2.108
|
1.745
|
1.580 |
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Other Current Assets |
0.211
|
0.162
|
0.177 |
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Loans & Advances |
0.653
|
0.882
|
0.594 |
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Total
Current Assets |
7.638
|
6.679
|
7.654 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
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Current Liabilities |
3.088
|
1.809
|
2.131 |
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Provisions |
0.885
|
0.781
|
0.722 |
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Total
Current Liabilities |
3.973
|
2.590
|
2.853 |
|
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Net Current Assets |
3.665
|
4.089
|
4.801 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
10.483 |
10.652 |
12.000 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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Sales and other income |
9.137 |
8.192 |
7.577 |
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Less |
EXPENSES |
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Administrative Expenses |
8.357 |
8.121 |
6.964 |
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Advertising Expenses |
|
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|
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TOTAL (B) |
8.357 |
8.121 |
6.964 |
|
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|
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|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
0.780 |
0.071 |
0.613 |
|
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|
Less |
FINANCIAL
EXPENSES (D) |
0.057 |
0.112 |
0.078 |
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.723 |
(0.041) |
0.535 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.665 |
0.646 |
0.663 |
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PROFIT BEFORE
TAX (E-F) (G) |
0.058 |
(0.687) |
(1.028) |
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Less |
TAX (I) |
0.012 |
NA |
NA |
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PROFIT AFTER TAX
(G-I) (J) |
0.046 |
NA |
NA |
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EXPORT EARNING |
3.364 |
NA |
NA |
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Earnings Per
Share (Rs.) |
(0.14) |
-- |
-- |
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|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
15.000 |
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|
Expected Sales ( 2011-2012 ) : Rs. 20.000 millions
The above information has been parted by Mr. Arun.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Net Profit Margin (PBT/Sales) |
(%) |
0.63 |
(8.39)
|
(13.57) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.40 |
(5.19)
|
(6.92) |
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.00 |
(0.09)
|
(0.13) |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.80
|
0.64
|
0.72 |
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|
Current Ratio (Current Asset/Current Liability) |
|
1.92
|
2.58
|
2.68 |
LOCAL AGENCY FURTHER INFORMATION
FORM : 8
|
Name of the company |
HI GLO HOLO IMAGES PRIVATE LIMITED |
|
Presented
By |
Mrs. Suman Gupta,
Director |
|
1) Date and description of instrument creating the change |
Agreement of
Hypothecation dated: 06.08.1996 |
|
2) Amount secured by the charge/amount owing on the securities of charge |
Cash Credit
:Rs.0.768 million D.D.
Purchase Rs.0.200 million |
|
3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Hypothecation of
raw materials, stock in process, finished goods, movable machinery equipment
tools spares and stores stored at factory at |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
Rate of Interest
18.75%p.a. extent of operation 100% repayable on demand |
|
5) Name and Address and description of the person entitled to the charge. |
State Bank of |
|
6) Date and brief description of instrument modifying the charge |
Agreement of
hypothecation dated 28.05.2005 |
|
7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Cash Credit
:Rs1.500 million D.D.
Purchase Rs.0.200 million Rate of Interest.
11.35% Extent of
Operation 100% Repayable on
demand The working
capital limit is further secured by way of 1st charge on fixed
assets of the company including plant and machinery and land and building
situated at village ablowal, |
TRADE REFERENCES:
v
GSK Healthcare Limited
v
Elder Pharma
FIXED ASSETS:
v Land
v Equipments
v Plant and Machinery
v Furniture and Fixture
v Computer
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] 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. 44.38 |
|
|
1 |
Rs. 71.24 |
|
Euro |
1 |
Rs. 64.15 |
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 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
29 |
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.