MIRA
INFORM REPORT
|
Report Date : |
02.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
FAUJI EXIM PRIVATE LIMITED |
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Formerly Known
As : |
FAUJI INTERNATIONAL ELECTRICALS PRIVATE LIMITED |
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Registered
Office : |
Building # 100 Sainik Vihar, Pitampura, Delhi - 110034 |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
16.01.2006 |
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Com. Reg. No.: |
55-144911 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.100 Million |
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CIN No.: [Company Identification
No.] |
U31909DL2006PTC144911 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Produced a ranges of fine quality
Food Commodities, Auto Electrical Parts, Hand Tools and Metal Scrap products. |
RATING & COMMENTS
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MIRA’s Rating : |
B (28) |
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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 1000 |
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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 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 |
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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 : |
Building # 100 Sainik Vihar, Pitampura, Delhi - 110034, India |
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Tel. No.: |
91-11-27383624 |
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Fax No.: |
91-11-27383624 |
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E-Mail : |
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Website : |
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Corporate Office and Mining Address : |
Building # 1753/129, 1st Floor, Shanti Nagar, Tri Nagar,
New Delhi – 110035, India |
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Tel. No.: |
91-11-27383623 |
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Fax No.: |
91-11-27383624 |
DIRECTORS
(AS ON 30.09.2010)
|
Name : |
Mr. Deepak Chauhan |
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Designation : |
Director |
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Address : |
Building # 100 Sainik Vihar, Pitampura, Delhi - 110034, India |
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Date of Appointment : |
16.01.2006 |
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DIN No. : |
01391453 |
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Name : |
Mr. Rohit Chauhan |
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Designation : |
Director |
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Address : |
Building # 100 Sainik Vihar, Pitampura, Delhi - 110034, India |
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Date of Appointment : |
16.01.2006 |
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DIN No. : |
01391397 |
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Name : |
Mr. Dil Bagh Singh |
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Designation : |
Director |
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Address : |
Building # 100 Sainik Vihar, Pitampura, Delhi - 110034, India |
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Date of Appointment : |
16.01.2006 |
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DIN No. : |
02126504 |
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Name : |
Mr. Shekhar Chauhan |
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Designation : |
Director |
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Address : |
Building # 100 Sainik Vihar, Pitampura, Delhi - 110034, India |
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Date of Appointment : |
16.01.2006 |
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DIN No. : |
01391441 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2010)
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Names of Shareholders |
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No. of Shares |
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Mr. Deepak Chauhan |
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2500 |
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Mr. Rohit Chauhan |
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2500 |
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Mr. Dil Bagh Singh |
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2500 |
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Mr. Shekhar Chauhan |
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2500 |
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Total |
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10000 |
(AS ON 30.09.2010)
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Category |
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Percentage |
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Directors or relatives of directors |
|
100.00 |
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Total
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|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Produced a ranges of fine quality
Food Commodities, Auto Electrical Parts, Hand Tools and Metal Scrap products. |
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Products : |
Food Grain |
GENERAL INFORMATION
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Bankers : |
Oriental Bank of Commerce, LU Block, Pitampura, Delhi – 110088,
India |
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Facilities : |
Rs in Millions
* Secured by first charge on Book Debts and Stocks and second charge
on residential house of director’s relative |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
D R A and Company Chartered Accountants |
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Address : |
35, Bunglow Road, Delhi – 110007, India |
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Tel. No.: |
91-11-27666357 / 27667360 |
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Tel. Fax No.: |
91-11-27667414 |
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E-Mail : |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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1000000 |
Equity Share |
Rs. 10/- each |
Rs. 10.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
10000 |
Equity Share |
Rs. 10/-
each |
Rs. 0.100
Million |
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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 |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.205 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
(0.003) |
0.000 |
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NETWORTH |
0.305 |
0.097 |
0.100 |
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LOAN FUNDS |
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1] Secured Loans |
3.568 |
0.000 |
0.000 |
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2] Unsecured Loans |
5.795 |
1.387 |
0.177 |
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TOTAL BORROWING |
9.363 |
1.387 |
0.177 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
9.668 |
1.484 |
0.277 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.000 |
0.000 |
0.000 |
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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 |
0.782
|
0.000 |
0.000 |
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Sundry Debtors |
8.529
|
0.000 |
0.000 |
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Cash & Bank Balances |
0.914
|
1.347 |
0.089 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
0.336
|
0.003 |
0.000 |
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Total
Current Assets |
10.561
|
1.350 |
0.089 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
0.675
|
0.000 |
0.000 |
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Other Current Liabilities |
0.334
|
0.020 |
0.005 |
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Provisions |
0.000
|
0.000 |
0.000 |
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Total
Current Liabilities |
1.009
|
0.020 |
0.005 |
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Net Current Assets |
9.552
|
1.330 |
0.084 |
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MISCELLANEOUS EXPENSES |
0.116 |
0.154 |
0.193 |
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TOTAL |
9.668 |
1.484 |
0.277 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
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TURNOVER |
|
43.829 |
0.612 |
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Less |
EXPENSES |
|
43.513 |
0.615 |
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PROFIT BEFORE
TAX |
|
0.316 |
(0.003) |
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Less |
TAX |
|
0.109 |
0.000 |
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PROFIT AFTER TAX
|
|
0.207 |
(0.003) |
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Earnings Per
Share (Rs.) |
|
20.46 |
0.00 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.47
|
(0.49) |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
2.99
|
(0.22) |
NA |
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Return on Investment (ROI) (PBT/Networth) |
|
1.04
|
0.03 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
|
34.01
|
14.51 |
1.82 |
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Current Ratio (Current Asset/Current Liability) |
|
10.47
|
67.50 |
17.80 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U31909DL2006PTC144911 |
|
Name of the
company |
FAUJI EXIM
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
100 SAINIK
VIHARPITAMPURA, DELHI-34, INDIA |
|
This form is for |
Creation of charge |
|
Type of charge |
Book debts Stock In Trade |
|
Particular of
charge holder |
ORIENTAL BANK
COMMERCE LU BLOCK, PITAM
PURA, DELHI – 110088, INDIA |
|
Nature of
instrument creating charge |
Agreement of
Hypothecation of Assets Dated 19th February, 2010 For Packing Credit/ Foreign
Documentary Deman/ Foreign Documentary Usance Bill Limit (Fully
Interchargeable) |
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Date of
instrument Creating the charge |
19.02.2010 |
|
Amount secured by
the charge |
Rs. 30.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest @ 9.50%
p.a. Or at such other rate as may be fixed from time to time by the bank. In
case of non shipment within 180 days effective ROI will be 12.50% p.a. From
the date of adv. On monthly rest Terms of repayment ON DEMAND Margin 25% Extent and operation of the charge 100% IN FAVOUR OF
BANK |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
The whole of the
current asset namely stock in trade, book debts and bills receivable and
other movable asset residential property bearing No, 100, Sainik Vihar, Pitam
Pura, Delhi Standing in the name of Smt Santosh Kumari. |
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.44.89 |
|
|
1 |
Rs.73.84 |
|
Euro |
1 |
Rs.64.76 |
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 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--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.