MIRA
INFORM REPORT
|
Report Date : |
23.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
LAKSHITA FASHIONS PRIVATE LIMITED |
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Registered
Office : |
Shop No-6, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
13.01.2006 |
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Com. Reg. No.: |
55-144790 |
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Capital
Investment / Paid-up Capital : |
Rs.1.450 Millions |
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CIN No.: [Company Identification
No.] |
U74899DL2006PTC144790 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELL03734D |
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PAN No.: [Permanent Account No.] |
AABCL1780C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Traders of Garments |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B [28] |
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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 27000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Trade
relations are reported as fair. Business is active. Payments are reported to
be slow but correct. The company can be considered for small to mediocre 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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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 |
LOCATIONS
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Registered Office : |
Shop No-6, |
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Tel. No.: |
NA |
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Fax No.: |
NA |
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E-Mail : |
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Website : |
http://www. |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Satish Kharbanda |
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Designation : |
Director |
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Address : |
320, Sector-15A, Noida – 201301, |
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Date of Birth/Age : |
10.10.1939 |
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Din : |
01965429 |
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Date of Appointment : |
01.12.2007 |
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Name : |
Mr. Sachin Kharbanda |
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Designation : |
Director |
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Address : |
320, Sector-15A, Noida – 201301, |
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Date of Birth/Age : |
19.11.1971 |
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Din : |
01184272 |
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Date of Appointment : |
13.01.2006 |
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Name : |
Mr. Suneet Kharbanda |
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Designation : |
Director |
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Address : |
320, Sector-15A, Noida – 201301, |
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Date of Birth/Age : |
03.05.1973 |
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Din : |
01326266 |
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Date of Appointment : |
15.02.2007 |
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Date of Cessation : |
01.12.2007 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Satish Kharbanda |
|
5000 |
|
Sachin Kharbanda |
|
140000 |
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Total |
|
145000 |
As on 30.09.2010
|
Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Other top fifty shareholders |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Traders of Garments |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Rajesh Radhey and Company Chartered Accountant |
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Address : |
House No.-672, Ground Floor, Sector-47, Gurgaon, Haryana – 122001, |
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Tel. No.: |
91-124-2218766 |
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Mobile No.: |
91-9911918763 |
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E-Mail : |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
500,000 |
Equity Shares |
Rs.10/-each |
Rs.5.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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145,000 |
Equity Shares |
Rs.10/-each |
Rs.1.450 millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
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1] Share Capital |
1.450 |
1.450 |
0.850 |
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2] Share Application Money |
3.650 |
2.600 |
0.000 |
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3] Reserves & Surplus |
1.717 |
0.699 |
0.429 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
6.817 |
4.749 |
1.279 |
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LOAN FUNDS |
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|
1] Secured Loans |
6.671 |
4.575 |
1.331 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
6.671 |
4.575 |
1.331 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
13.488 |
9.324 |
2.610 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.946 |
3.583 |
3.739 |
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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 |
5.923
|
4.537 |
6.761 |
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Sundry Debtors |
0.049
|
0.029 |
0.037 |
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Cash & Bank Balances |
4.391
|
3.114 |
0.627 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
4.406
|
1.135 |
0.494 |
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Total
Current Assets |
14.769
|
8.815 |
7.919 |
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|
Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
0.000 |
0.000 |
0.000 |
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Other Current Liabilities |
2.226
|
0.215 |
9.047 |
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Provisions |
2.062
|
2.888 |
0.044 |
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Total
Current Liabilities |
4.288
|
3.103 |
9.091 |
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Net Current Assets |
10.481
|
5.712 |
[1.172] |
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MISCELLANEOUS EXPENSES |
0.061 |
0.029 |
0.043 |
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TOTAL |
13.488 |
9.324 |
2.610 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2010 |
31.03.2009 |
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SALES
|
|
68.229 |
62.316 |
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Less |
EXPENSES |
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Cost of goods Sold |
|
55.956 |
52.296 |
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Administrative and other Expenses |
|
10.021 |
8.749 |
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Preliminary Expenses written
off |
|
0.026 |
0.014 |
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TOTAL |
|
66.003 |
61.059 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
2.226 |
1.257 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.752 |
0.785 |
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PROFIT BEFORE
TAX |
|
1.474 |
0.472 |
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Less |
TAX |
|
0.456 |
0.202 |
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PROFIT AFTER TAX
|
|
1.018 |
0.270 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
0.699 |
0.429 |
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BALANCE CARRIED
TO THE B/S |
|
1.717 |
0.699 |
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Earnings Per
Share (Rs.) |
|
7.00 |
26.00 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.49
|
0.43 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
2.16
|
0.76 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
8.32
|
3.81 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.10 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
|
1.61
|
1.62 |
8.15 |
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Current Ratio (Current Asset/Current Liability) |
|
3.44
|
2.84 |
0.87 |
LOCAL AGENCY FURTHER INFORMATION
Note : Registered office
address of the company has been shifted from 5C/D-4,
Financial Results
:
The year ended 31.03.2010, there is net profit of Rs.1.018 millions after tax
during the year and transferred to general reserve account in balance sheet
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U74899DL2006PTC144790 |
|
Name of the
company |
LAKSHITA FASHIONS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
5C/D-4, Bamashah
Road, Near Nanak Payu Gurudwara, Rana Pratap Bagh, Delhi – 110009, Delhi,
India |
|
This form is for |
Modification of charge |
|
Charge
identification (ID) number of the charge to be modified |
10115833 |
|
Type of charge |
Book Debts Movable Property |
|
Particular of
charge holder |
Syndicate Bank, Sme Branch, B - 117, Sector - 18, Noida - 201301, |
|
Nature of
instrument creating charge |
Composite
Hypothecation Agreement General Agreement Sanction Letter Board Resolution |
|
Date of
instrument Creating the charge |
02.03.2010 |
|
Amount secured by
the charge |
Rs.6.000 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest
- Interest shall be charged @14.00% pa on monthly rest being Bank's PLR +
2.00% or at such other rate (s) as may be specified by the bank from time to
time. Terms of
Repayment - Repayable on demand Margin - 30% Extent and
Operation of the charge - First Charge to secure SODH Limited 6.000 millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of
entire stock consisting of raw material, semi finished goods, finished stock of
ready made garment stored/to be stored at G-48, Sector - 18, NOIDA or at any
other place. Book debts and
receivable of the company both present and future |
|
Particulars of
the present modification |
The charge is
modified to secure SODH limit of Rs. 6.000 millions. Interest shall be
charged @ 14% pa. Security shall be entire stock, book debts and receivables
of the company both present and future. Other terms, conditions and
securities remained same. |
FIXED ASSETS :
·
Plant and Machinery
·
Car
·
Air Conditioner
·
Camera
·
Cease Fire
·
Easy Pose Billing Machine
·
Electronic Billing
Machine
·
Printer
·
Scanner
·
Inverter
·
Labeler
·
Music Systems
·
Water Cooler
·
Water Purifier
·
Generator
·
EPABX
·
Fire Extinguisher
·
Telephones
·
Television
·
UPS
·
Vacuum Cleaner
·
Furniture and Fixtures
·
Computer
·
Office Equipments
·
Electrical Installations
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.44.37 |
|
|
1 |
Rs.72.34 |
|
Euro |
1 |
Rs.63.87 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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.