1. Summary Information
|
|
|
Country |
|
|
Company Name |
DEORA SPARES AND COMPONENTS PRIVATE LIMITED |
Principal Name 1 |
Mr. Sudhir Kumar Deora |
|
Status |
Moderate |
Principal Name 2 |
Mrs. Maya Deora |
|
|
|
Registration # |
21-111880 |
|
|
|
|
|
|
Street Address |
133, |
||
|
|
|
||
|
Established Date |
22.11.2006 |
SIC Code |
-- |
|
Telephone# |
-- |
Business Style 1 |
Traders |
|
Fax # |
-- |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
Bearings |
|
# of employees |
30 (Approximately) |
Product Name 2 |
-- |
|
Paid up capital |
Rs. 7,234,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of
directors 100.00% |
Banking |
Tamilnad Mercantile Bank Limited |
|
Public Limited Corp. |
NO |
Business Period |
4 years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
B (28) |
|
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 |
11,478,000 |
Current Liabilities |
3,421,000 |
|
Inventories |
0 |
Long-term Liabilities |
6,000 |
|
Fixed Assets |
0 |
Other Liabilities |
0 |
|
Deferred Assets |
0 |
Total Liabilities |
3,427,000 |
|
Invest& other Assets |
12,089,000 |
Retained Earnings |
12,906,000 |
|
|
|
Net Worth |
20,140,000 |
|
Total Assets |
23,567,000 |
Total Liab. & Equity |
23,567,000 |
|
Total Assets (Previous Year) |
20,076,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
-- |
Net Profit |
852,000 |
|
Sales(Previous yr) |
-- |
Net Profit(Prev.yr) |
764,000 |
MIRA
INFORM REPORT
|
Report Date : |
24.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
DEORA SPARES AND COMPONENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
133, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
22.11.2006 |
|
|
|
|
Com. Reg. No.: |
21 - 111880 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 7.234 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29130WB2006PTC111880 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Traders of Bearings. |
|
|
|
|
No. of Employees
: |
30 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 80500 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
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 : |
133, |
|
Tel. No.: |
91-33-40053290 |
|
E-Mail : |
|
|
|
|
|
Corporate Office : |
8/16, |
|
Tel. No.: |
91-22-28831051/ 23414299 |
|
Fax No.: |
91-22-28836769/ 23437732 |
DIRECTORS
As on 30.09.2010
|
Name : |
Mrs. Maya Deora |
|
Designation : |
Director |
|
Address : |
13A, |
|
Date of Birth/Age : |
10.06.1948 |
|
Date of Appointment : |
08.06.2009 |
|
DIN No.: |
02397595 |
|
|
|
|
Name : |
Mr. Sudhir Kumar Deora |
|
Designation : |
Director |
|
Address : |
13 A, |
|
Date of Birth/Age : |
11.06.1968 |
|
Date of Appointment : |
22.11.2006 |
|
DIN No.: |
00886881 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Sudhir Kumar Deora |
|
145000 |
|
Shyam Sundar Deora |
|
5000 |
|
Parmeshwarri Devi Goenk |
|
40 |
|
Dhanpat Gouthi |
|
40 |
|
Chanra Devi Gouthi |
|
40 |
|
Babita Deora |
|
100040 |
|
Maya Deora |
|
100040 |
|
Rajesh Deora |
|
100040 |
|
Sanjay Kumar Deora |
|
52040 |
|
Dulichand Deora and Sons – HUF |
|
40 |
|
Shyam Sunder Deora – HUF |
|
40 |
|
Sampati Devi Deora |
|
70040 |
|
Deora Pawan Kumar and Sons – HUF |
|
40 |
|
Deora Ramavtar and Sons - HUF |
|
40 |
|
Ruchi Deora |
|
100040 |
|
Dunhamak Gouthi |
|
40 |
|
Vimla Devi Gouthi |
|
40 |
|
Ajay Kumar Garodia - HUF |
|
40 |
|
Banwarilal Garodia – HUF |
|
40 |
|
Bijay Kumar Garodia |
|
40 |
|
Ajay Kumar Garodia |
|
40 |
As on 30.09.2010
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Traders of Bearings. |
|
|
|
|
Products : |
Bearings. |
GENERAL INFORMATION
|
No. of Employees : |
30 (Approximately) |
||||||||||||
|
|
|
||||||||||||
|
Bankers : |
Tamilnad Mercantile Bank Limited, Goradia House, 1st Floor,
101-104, Kazi Syed Street, Mandvi, Masjid, Mumbai-400003, Maharashtra, India |
||||||||||||
|
|
|
||||||||||||
|
Facilities : |
|
|
|
|
|
Banking Relations
: |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Bhalotia and Company Chartered Accountant |
|
Address : |
P48, |
|
PAN.: |
AFUPB3313C |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
800000 |
Equity Shares |
Rs.10/- each |
Rs. 8.000 Millions |
|
|
|
|
|
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
723400 |
Equity Shares |
Rs.10/- each |
Rs. 7.234
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 |
7.234 |
3.714 |
3.714 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
12.906 |
6.774 |
6.011 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
20.140 |
10.488 |
9.725 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.006 |
0.006 |
0.000 |
|
|
TOTAL BORROWING |
0.006 |
0.006 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
20.146 |
10.494 |
9.725 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.000 |
0.000 |
0.000 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
12.089 |
10.619 |
8.497 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
0.000 |
|
|
Sundry Debtors |
0.000
|
0.000 |
0.000 |
|
|
Cash & Bank Balances |
1.498
|
6.128 |
0.151 |
|
|
Other Current Assets |
1.081
|
0.722 |
0.000 |
|
|
Loans & Advances |
8.899
|
2.495 |
1.372 |
|
Total
Current Assets |
11.478
|
9.345 |
1.523 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.000
|
0.000 |
0.000 |
|
|
Other Current Liabilities |
2.301
|
8.850 |
0.040 |
|
|
Provisions |
1.120
|
0.732 |
0.326 |
|
Total
Current Liabilities |
3.421
|
9.582 |
0.366 |
|
|
Net Current Assets |
8.057
|
(0.237) |
1.157 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.112 |
0.071 |
|
|
|
|
|
|
|
|
TOTAL |
20.146 |
10.494 |
9.725 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
|
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
|
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
1.240 |
1.170 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
|
0.388 |
0.406 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
|
0.852 |
0.764 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
1.18 |
1.06 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
10.80
|
12.52 |
-- |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.06
|
0.11 |
-- |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.17
|
0.91 |
0.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
3.35
|
0.97 |
4.16 |
LOCAL AGENCY FURTHER INFORMATION
Form 8:
|
This form is for |
Creation of
charge |
|
Corporate identity
number of the company |
U29130WB2006PTC111880 |
|
Name of the
company |
DEORA SPARES AND COMPONENTS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
133, |
|
Type of charge |
Movable Property |
|
Particular of
charge holder |
Tamilnad Mercantile Bank Limited, Goradia House, 1st Floor,
101-104, Kazi Syed Street, Mandvi, Masjid, Mumbai-400003, Maharashtra, India |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
Certified Copy of
Agreement for Demand Cash Credit on the Hypothecation of Movable Properties Certified Copy of
Demand Promissory Note - 2 Nos Certified Copy of
List of Directors Certified Copy of
Agreement for Joint and Several Guarantee |
|
Date of
instrument Creating the charge |
05.05.2009 |
|
Amount secured by
the charge |
Rs.4.000 Millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit
(Stock) 13.75% per annum on daily balances with monthly rests Terms of
Repayment Cash Credit (Stock
) Limits are sanctioned for a period of 1(one) year and are renewable every
year Margin Cash Credit
(Stock) 30% of Invoice Value Bank
Guarantee 25% Extent and
Operation of the charge Cash Credit
(Stock) Limits - Rs 3.000 Millions Bank Guarantee
Limits - Rs 1.000 Millions To secure the due
repayment of Loan Limits and for interest and other financial charges
thereon, the first charge and Hypothecation charge on present and future
stock in trade comprising of needle roller bearings, precision bearings,
transmission units, spares, components and Lien over Term Deposits. |
|
Short particulars
of the property charged |
Hypothecation
charge on Borrower's present and future stock in trade mainly comprising needle
roller bearings, precision bearings, transmission units, spares and
components stored/lying at - Premises No 8/16, Narayan Dhuru Cross Lane, 4th
Floor, Masjid(West), Mumbai 400 003 or at any other godown or at worksites.
Lien over Borrower's Term Deposits obtained as margin. |
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.44.93 |
|
|
1 |
Rs.72.09 |
|
Euro |
1 |
Rs.64.21 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
2 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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.