1. Summary Information
|
|
|
Country |
India |
|
Company Name |
Aasu Exim
Private Limited |
Principal Name 1 |
Mr. Rajkumar Sardaramal Kaushik |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Anilkumar Sardaramal Kaushik |
|
|
|
Registration # |
11-32011 |
|
Street Address |
A-204/205, Udyog Bhavan, Sonawala Road, Goregaon (East), Mumbai – 400063, Maharashtra, India |
||
|
Established Date |
07.02.1984 |
SIC Code |
-- |
|
Telephone# |
91-22-26861484/ 92/ 28717203/
28717204 |
Business Style 1 |
Importers
|
|
Fax # |
91-22-26860831 |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
Textiles
and |
|
# of employees |
Not Available |
Product Name 2 |
Fabrics |
|
Paid up capital |
Rs.3540100/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of
directors – 100% |
Banking |
Corporation Bank |
|
Public Limited Corp. |
No |
Business Period |
27 years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
Ba (45) |
|
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 |
65,698,000 |
Current Liabilities |
38,033,000 |
|
Inventories |
42,110,000 |
Long-term Liabilities |
61,877,000 |
|
Fixed Assets |
13,883,000 |
Other Liabilities |
1,557,000 |
|
Deferred Assets |
0,000,000 |
Total Liabilities |
101,467,000 |
|
Invest& other Assets |
47,000 |
Retained Earnings |
16,731,000 |
|
|
|
Net Worth |
20,271,000 |
|
Total Assets |
121,738,000 |
Total Liab. & Equity |
121,738,000 |
|
Total Assets (Previous Year) |
115,418,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
176, 973,000 |
Net Profit |
1,843,000 |
|
Sales(Previous yr) |
217,782,000 |
Net Profit(Prev.yr) |
(4,763,000) |
MIRA
INFORM REPORT
|
Report Date : |
22.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
AASU EXIM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
A-204/205, Udyog Bhavan, Sonawala Road, Goregaon (East), Mumbai –
400063, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
07.02.1984 |
|
|
|
|
Com. Reg. No.: |
11-32011 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3.540 millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH1984PTC032011 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Importers
of Textiles and Fabrics. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s 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 80000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade relations
are reported as fair. Business is active. Payments are reported to be usually
correct 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 : |
A-204/205, Udyog Bhavan, Sonawala Road, Goregaon (East), Mumbai –
400063, Maharashtra, India |
|
Tel. No.: |
91-22-26861484/ 92/ 28717203/
28717204 |
|
Mobile No.: |
91-9820060159 (Mr. Rajkumar Kaushik) |
|
Fax No.: |
91-22-26860831 |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
Navjivan
Building, 3rd Floor, 12, 19, Lamingaton Road, Girgaon, Mumbai – 400004, Maharashtra,
India |
|
Tel. No.: |
91-22-23098183 |
DIRECTORS
(AS ON 30.09.2010)
|
Name : |
Mr. Rajkumar Sardaramal Kaushik |
|
Designation : |
Whole Time Director |
|
Address : |
B-401-402, Dharma Nagar, Off. Link Road, Bariwali (West), Mumbai –
400091, Maharashtra, India |
|
Date of Birth/Age : |
10.02.1963 |
|
Date of Appointment : |
07.07.1987 |
|
|
|
|
Name : |
Mr. Anilkumar Sardaramal Kaushik |
|
Designation : |
Whole Time Director |
|
Address : |
B-401-402, Dharma Nagar, Off. Link Road, Bariwali (West), Mumbai –
400091, Maharashtra, India |
|
Date of Birth/Age : |
06.03.1968 |
|
Date of Appointment : |
29.091988 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2010)
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Rajkumar Kaushik |
|
4010 |
|
Shakuntala Kaushik |
|
341000 |
|
Sardaramal Kaushik |
|
5500 |
|
Anil Kaushik |
|
3500 |
|
Empower Industries India Private Limited, India |
|
100000 |
|
Sanguine Media Limited, India |
|
45000 |
|
|
|
|
|
Total |
|
499010 |
(AS ON 30.09.2010)
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importers
of Textiles and Fabrics. |
|
|
|
|
Products : |
· Yarn · Textile ·
Echolac Bags. |
GENERAL INFORMATION
|
Customers (As on 31.03.2009) : |
v
Balaji Enterprises v
Beekay Tex v
Deepak International v
Khusbu Yarns v
Laxmi Fancy Yarns v
Rinku Textiles v
Sagar Drape v
Supreme Synthetics v
Vijaya Impex v
Abhisjek textiles v
Adarsh knitting industries v
Arihant synthetic v
Ashok plastics v
Aveelon synthetics (India) Private Limited v
Bholanath and Company v
Damodar Threads Limited v
Deepak International v
Deetex Poly Yarn Private Limited v
Devika Synthetics v
Future fibre and Filamints v
Ganesh Pipes v
Ginza Industries Limited v
Goyal Knitfab Private Limited v
J.K. Enterprises v
Kesav Corporation v
Khemi Filaments Limited v
Kairan Industries Limited v
Mahavir Textile Industries v
Manohar Processors v
Navnidhi Enterprises v
Rajendra synthetics v
Satyam Polyesters v
Shri Balaji Enterprises v
Sugam Synthetics v
Toto Toya Spin Limited v
Viswas Enterprises v
White Lotus Polytex Private Limited |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
Not Available |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
v
Corporation Bank, CST 836, Pratiksha Apartment, Opposite Filmistan Studio, S.V. Road, Goregaon
(West), Mumbai – 400062, Maharashtra, India v
Bank of Baroda v
Indusind Bank Limited v
Axis Bank |
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Vinod Kumar Jain and Company Chartered Accountants |
|
Address : |
205, Apollo Arcade, R.K. Singh Marg, Off |
CAPITAL STRUCTURE
(AS ON 30.09.2010)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 millions |
|
|
|
|
|
Issued & Subscribed Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
499010 |
Equity Shares |
Rs.10/- each |
Rs.4.990 millions |
|
|
|
|
|
Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
354010 |
Equity Shares (Fully Paid) |
Rs.10/- each |
Rs.3.540millions |
|
145000 |
Equity Shares (Partly Paid) |
Rs.5/- each |
Rs.0.725 millions |
|
|
|
|
|
|
|
Total |
|
Rs.4.265
millions |
(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 |
|
|
|
|
|
|
354010 |
Equity Shares |
Rs.10/- each |
Rs.3.540 millions |
|
|
|
|
|
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 |
3.540 |
3.540 |
3.540 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
16.731 |
14.888 |
19.651 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
20.271 |
18.428 |
23.191 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.847 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
61.030 |
15.886 |
4.542 |
|
|
TOTAL BORROWING |
61.877 |
15.886 |
4.542 |
|
|
DEFERRED TAX LIABILITIES |
0.931 |
0.782 |
3.851 |
|
|
|
|
|
|
|
|
TOTAL |
83.079 |
35.096 |
31.584 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
13.883 |
4.495 |
4.712 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.047 |
0.048 |
0.048 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
42.110
|
52.541
|
78.752 |
|
|
Sundry Debtors |
18.669
|
19.531
|
27.008 |
|
|
Cash & Bank Balances |
29.755
|
31.369
|
22.786 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
17.274
|
7.434
|
17.517 |
|
Total
Current Assets |
107.808
|
110.875
|
146.063 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
25.476
|
78.648
|
116.438 |
|
|
Other Current Liabilities |
12.557
|
0.656
|
0.831 |
|
|
Provisions |
0.626
|
1.018
|
1.970 |
|
Total
Current Liabilities |
38.659
|
80.322
|
119.239 |
|
|
Net Current Assets |
69.149
|
30.553
|
26.824 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
83.079 |
35.096 |
31.584 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
176.973 |
217.782 |
262.744 |
|
|
|
Other Income |
2.108 |
10.613 |
0.566 |
|
|
|
TOTAL |
179.081 |
228.395 |
263.310 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
175.295 |
234.527 |
260.106 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
3.786 |
(6.132) |
3.204 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.496 |
0.260 |
0.240 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE TAX
|
3.290 |
(6.392) |
2.964 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.447 |
(1.629) |
0.576 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1.843 |
(4.763) |
2.388 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
14.888 |
19.651 |
17.263 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
16.731 |
14.888 |
19.651 |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
90.624 |
134.341 |
201.381 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
5.21 |
(13.45) |
- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.03
|
(2.09)
|
0.91 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.86
|
(2.94)
|
1.13 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.70
|
(5.54)
|
1.96 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.16
|
(0.35)
|
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.96
|
5.22
|
5.33 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.79
|
1.38
|
1.22 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS:-
The company has achieved turnover of Rs.176.973 millions as compared to Rs.217.782
millions during the previous year. However, despite having a low turnover this
year, the company has earned a net profit of Rs.1.843 millions as compared to a
net loss of Rs.4.763 Millions incurred in the previous year.
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U51900MH1984PTC032011 |
|
Name of the
company |
AASU EXIM PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
A-204/205, Udyog Bhavan, |
|
Type of charge |
Book Debts Movable Property Immovable
Property |
|
Particular of
charge holder |
Corporation Bank, CST 836, Pratiksha Apartment, Opposite Filmistan
Studio, S.V. Road, Goregaon (west), Mumbai- 4000 062, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Common Deed hypothecation
of movable/ Asset/ Debts Dated 29.04.2008 |
|
Date of
instrument Creating the charge |
29.04.2008 |
|
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 Commission as per
prescribed rate. Terms of
Repayment DP/DA (if DA
Usance not exceeding 180 Days.) Margin 25% in the form
of deposit Extent and
Operation of the charge In case of LC facility:
Extension of charge on stock and debtors. |
|
Short particulars
of the property charged |
1.
First
charge by way of equitable mortgage on Unit No. 204, 2nd Floor, Udyog Bhavan
Premises Co Operative Society Limited, Goregaon (East), Mumbai- 400063, Maharashtra,
India 2.
Collateral security given by Rajkumar Kaushik,
Directors of the Company Unit No 205, 2nd Udyog Bhavan Premises Co
Operative Society Limited, Goregaon (East), Mumbai-400 063, |
FIXED ASSETES:-
v Land
v Office Premises
v Building
v Bhiwandi Godown
v Honda City
v Maruti Car
v EPABX
v Computer
v Software
v Air Conditioner
v Weighing Machines
v Fax Machines
v Xerox Machine
v Acquaguard
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.44.43 |
|
|
1 |
Rs.71.89 |
|
Euro |
1 |
Rs.63.40 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.