1. Summary Information
|
|
|
Country |
|
|
Company Name |
NAINKO EXIM
PRIVATE LIMITED |
Principal Name 1 |
Mr. Yung Sun Bae |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Kil Hyang Lee |
|
|
|
Registration # |
55-116812 |
|
Street Address |
73, Pocket B-3, 2nd Floor, Safdarjung Enclave, |
||
|
Established Date |
03.09.2002 |
SIC Code |
-- |
|
Telephone# |
-- |
Business Style 1 |
Exporter |
|
Fax # |
-- |
Business Style 2 |
Importer |
|
Homepage |
Product Name 1 |
Electronic Components |
|
|
# of employees |
-- |
Product Name 2 |
Equipments |
|
Paid up capital |
Rs.
4,230,000/- |
Product Name 3 |
Appliances |
|
Shareholders |
-- |
Banking |
HDFC Bank Limited |
|
Public Limited Corp. |
NO |
Business Period |
9 Years |
|
IPO |
NO |
International Ins. |
-- |
|
Public |
NO |
Rating |
Ba (45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
166,196,000 |
Current Liabilities |
154,415,000 |
|
Inventories |
14,395,000 |
Long-term Liabilities |
30,836,000 |
|
Fixed Assets |
130,746,000 |
Other Liabilities |
5,768,000 |
|
Deferred Assets |
0 |
Total Liabilities |
191,019,000 |
|
Invest& other Assets |
0 |
Retained Earnings |
116,088,000 |
|
|
|
Net Worth |
120,318,000 |
|
Total Assets |
311,337,000 |
Total Liab. & Equity |
311,337,000 |
|
Total Assets (Previous Year) |
496,396,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
-- |
Net Profit |
25,777,000 |
|
Sales(Previous yr) |
-- |
Net Profit(Prev.yr) |
16,162,000 |
MIRA
INFORM REPORT
|
Report Date : |
11.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
NAINKO EXIM PRIVATE LIMITED |
|
|
|
|
Registered Office : |
73, Pocket B-3, 2nd Floor, Safdarjung Enclave, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
03.09.2002 |
|
|
|
|
Com. Reg. No.: |
55-116812 |
|
|
|
|
Capital Investment / Paid-up Capital : |
Rs. 4.230 millions |
|
|
|
|
CIN No.: [Company
Identification No.] |
U51909DL2002PTC116812 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MRTN00224A |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Exporter and Importer all types of Electronic Components, Devices,
Equipments and Appliances. |
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 480000 |
|
|
|
|
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 : |
73, Pocket B-3, 2nd Floor, Safdarjung Enclave, |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
C-12, 2nd Floor, Gitanjali Enclave, |
|
|
|
|
Plant : |
B – 30/1, Ranjan Gaon, MIDC, Next Bajaj Electricals Tal Shirur, Pune –
412220, Maharashtra, India |
|
Tel. No.: |
91-22-38563602 |
|
Fax No.: |
91-22-38232445 |
DIRECTORS
As On : 30.09.2010
|
Name : |
Mr. Yung Sun Bae |
|
Designation : |
Managing Director |
|
Address : |
73, II Floor, Safdurjung Enclave, New Delhi – 110029, Delhi, India |
|
Date of Birth/Age : |
29.08.1959 |
|
Date of Appointment : |
03.09.2002 |
|
DIN No : |
01768930 |
|
|
|
|
Name : |
Mr. Kil Hyang Lee |
|
Designation : |
Whole Time Director |
|
Address : |
73, II Floor, Safdurjung Enclave, New Delhi – 110029, Delhi, India |
|
Date of Birth/Age : |
20.06.1962 |
|
Date of Appointment : |
03.09.2002 |
|
DIN No : |
01768979 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Mr. Yung Sun Bae |
|
185000 |
|
Mr. Kil Hyang Lee |
|
130000 |
|
Mr. Bhanu Prasad |
|
5000 |
|
Panko Express India Private Limited, India |
|
20000 |
|
Laser Sound Systems Private Limited, India |
|
30000 |
|
Anika Consultants Private Limited, India |
|
10000 |
|
Kim Jung Rae |
|
13000 |
|
Samkit Finance Limited, India |
|
4000 |
|
Udyanchal Viniyog Private Limited, India |
|
4000 |
|
Harshratna Finance and Investments Private Limited, India |
|
4000 |
|
Priyamvada Finvest Private Limited, India |
|
4000 |
|
Ladha Finance Limited, India |
|
4000 |
|
Rudra Rubber Private Limited, India |
|
6000 |
|
Achates E-Services Private Limited, India |
|
4000 |
|
|
|
|
|
Total |
|
423000 |
AS ON 30.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Bodies corporate |
|
23.00 |
|
Directors or relatives of directors |
|
77.00 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Exporter and Importer all types of Electronic Components, Devices,
Equipments and Appliances. |
||||||
|
|
|
||||||
|
Products : |
|
PRODUCTION STATUS (As On : 31.03.2010)
|
Particulars |
Unit |
Installed
Capacity |
|
Colour Television Set |
Numbers |
1200000 |
|
Printed Circuit Board |
Numbers |
2050000 |
GENERAL INFORMATION
|
Bankers : |
·
HDFC
Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel(W),
Mumbai-400013, Maharashtra, India |
|||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Financial Institution : |
·
LG Electronics India Private Limited, Plot No.51,
Udyog Vihar, Surajpur Kasna Road, Greater Noida-201001, Uttar Pradesh, India |
|
|
|
|
Auditors : |
|
|
Name : |
Gupta Lokhotia and Associates Chartered Accountant |
|
Address : |
AD-27, Ground Floor, Shalimar Bagh, New Delhi – 110029, Delhi, India |
|
Tel. No.: |
91-11-27476873 |
CAPITAL STRUCTURE
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 |
|
|
|
|
|
|
423000 |
Equity Shares |
Rs. 10/- each |
Rs. 4.230
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 |
4.230 |
3.930 |
3.880 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.500 |
|
|
3] Reserves & Surplus |
116.088 |
83.110 |
66.499 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
120.318 |
87.040 |
70.879 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
7.867 |
17.818 |
19.814 |
|
|
2] Unsecured Loans |
22.969 |
25.977 |
31.897 |
|
|
TOTAL BORROWING |
30.836 |
43.795 |
51.711 |
|
|
DEFERRED TAX LIABILITIES |
5.768 |
6.689 |
6.512 |
|
|
|
|
|
|
|
|
TOTAL |
156.922 |
137.524 |
129.102 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
130.746 |
132.966 |
136.288 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
3.640 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
15.000 |
17.340 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
14.395
|
23.933
|
50.898
|
|
|
Sundry Debtors |
58.274
|
25.534
|
5.536
|
|
|
Cash & Bank Balances |
21.161
|
52.190
|
32.377
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
86.761
|
67.337
|
258.527
|
|
Total
Current Assets |
180.591
|
168.994
|
347.338 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
112.352
|
133.565
|
343.379 |
|
|
Other Current Liabilities |
7.129
|
25.032
|
14.555
|
|
|
Provisions |
34.934
|
20.838
|
17.590
|
|
Total
Current Liabilities |
154.415
|
179.435
|
375.524 |
|
|
Net Current Assets |
26.176
|
(10.441)
|
(28.186)
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.020 |
|
|
|
|
|
|
|
|
TOTAL |
156.922 |
137.524 |
129.102 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
2330.174 |
2472.473 |
2650.691 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Operating Expenses |
2273.174 |
2429.689 |
2609.083 |
|
|
|
TOTAL (B) |
2273.174 |
2429.689 |
2609.083 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
57.000 |
42.784 |
41.608 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.804 |
1.898 |
1.361 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
55.196 |
40.886 |
40.247 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
16.340 |
14.109 |
12.386 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
38.856 |
26.777 |
27.861 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
13.079 |
10.615 |
10.187 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
25.777 |
16.162 |
17.674 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
71.140 |
54.978 |
37.822 |
|
|
|
|
|
|
|
|
|
|
Taxes
Paid for earlier years |
0.000 |
0.000 |
(0.518) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
96.917 |
71.140 |
54.978 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Stores & Spares |
0.744 |
2.503 |
1.723 |
|
|
|
Capital Goods |
2.494 |
0.000 |
15.739 |
|
|
TOTAL IMPORTS |
3.238 |
2.503 |
17.462 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
60.94 |
41.12 |
44.22 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.11
|
0.65
|
0.67 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
12.48
|
8.87
|
5.76 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.32
|
0.31
|
0.39 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.59
|
2.64
|
6.03 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.17
|
0.94
|
0.92 |
LOCAL AGENCY FURTHER INFORMATION
Note:
Registered Office of
the company has been shifted from C-12, 2nd Floor, Geetanjali Enclave, New
Delhi – 110029, Delhi, India to
the present address w.e.f.24.09.2007
FINANCIAL RESULT
The turnover of the Company declined about 7% as compared to previous
year due to higher job work carried out by Company. Profit before tax increased
as compared top last year due to better utilization of material.
FUTURE PERFORMANCE
The company has got good orders in hand and expects to achieve a
turnover of Rs.2500.000 millions in the current year. However, the margins will
be under pressure because of higher input costs.
FORM 8
|
Corporate
identity number of the company |
U51909DL2002PTC116812 |
|
Name of the
company |
NAINKO EXIM
PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
73, Pocket B-3, 2nd Floor, Safdarjung Enclave, |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
HDFC Bank
Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel(W), Mumbai-400013,
Maharashtra, India |
|
Nature of
instrument creating charge |
Memorandum Recording
past transitions of creation of mortgage by delivery of title deeds. |
|
Date of
instrument Creating the charge |
29.09.2010 |
|
Amount secured by
the charge |
Rs.120.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest at the
rate as may be communicated by the bank from time to time Terms of repayment Overall facility
limit under MFA shall be payable on demand and term loan facility shall be repayable
in suitable installments. Margin As may be
stipulated by the bank from time to time. Extent and operation of the charge The company
created an equitable mortgage by way of deposit of title deeds in respect of
its immovable properties as stated under item No.15 as security for the due
repayment of Rs. 120.000 millions by the company, including principal amount
of the facility, interest, liquidated damages, costs, charges, costs, charges
and expenses etc. |
|
Short particulars
of the property charged (Including location of the property) |
Immovable
property situated at B-30/1 admeasuring 20750 Sq.mtr. in Rajangaon Industrial
Area situated at Dhok sangavi, Shirur, Pune. |
|
Charge
identification number of the charge to be modified |
10233489 |
|
Particulars of
the present modification |
The present
modification is for furnishing additional security of immovable property of
the Company situated at B-30/1 admeasuring 20750 Sq.mtr. in Rajangaon
Industrial Area situated at Dhok sangavi, Shirur, Pune., in addition to
securities already furnished by the company at the time of creation of the
charge and, there is, therefore no charge in amount of charge which stands
secured at Rs. 120.000 millions in favour of the bank. |
CONTINGENT LIABILITY (NOT PROVIDED FOR) IN RESPECT OF:
(Rs. In Millions)
|
SR NO |
PARTICLUARS |
2009-2010 |
|
1. |
Show cause / demand / notice by Excise,
Sales Tax, and Income Tax authorities being disputed by the Company |
125.562 |
|
2. |
Differential amount of custom duty in
respect of machinery imported under EPCG Scheme |
4.284 |
|
3. |
Estimated amount of contracts remaining to
be executed on capital account (net advances) |
Nil |
|
4. |
Outstanding Bank Guarantees (Secured against
100% Fixed Deposit Receipts) |
16.800 |
FIXED ASSETS
- Land
- Buildings
- Plant and
Machinery
- Office
Equipments
- Computers
- Vehicles
- Furniture and
Fixtures
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.44.72 |
|
|
1 |
Rs.72.92 |
|
Euro |
1 |
Rs.64.72 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
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 |
5 |
|
--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 |
|
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.