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MIRA
INFORM REPORT
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Report Date : |
01.03.2011 |
IDENTIFICATION DETAILS
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Name : |
HOME AUTOMATION ( |
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Registered
Office : |
3, 1st Floor, Savita Vihar, New Delhi – 110092, Delhi |
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Country : |
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Financials (as
on) : |
31.03.2009 |
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Date of
Incorporation : |
02.07.2002 |
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Com. Reg. No.: |
55-116040 |
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CIN No.: [Company Identification
No.] |
U31909DL2002PTC116040 |
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PAN No.: [Permanent Account No.] |
AABCH2523B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Electrical Products. |
RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
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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 10000 |
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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 is under pressure. However trade relations are 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
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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 |
INFORMATION PARTED BY
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Name : |
Mr. Manikant Sharma |
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Designation : |
Director |
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Contact No.: |
91-9810412337 |
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Date : |
05.02.2011 |
LOCATIONS
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Registered Office : |
3, 1st Floor, Savita Vihar, New Delhi – 110092, Delhi,
India |
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E-Mail : |
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Website : |
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Area : |
2000 Sq. Fts |
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Location : |
Owned |
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Factory : |
D – 10, Sector – B – 3, |
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Tel. No.: |
91-120-2696072 |
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Fax No.: |
91-120-2696072 |
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Area : |
1500 Sq. Fts |
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Location : |
Owned |
DIRECTORS
As On : 30.09.2009
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Name : |
Mr. Manikant Sharma |
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Designation : |
Director |
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Address : |
3, 1st Floor, Savita Nagar, |
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Date of Birth/Age : |
25.06.1964 |
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Qualification : |
MBA |
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Date of Appointment : |
02.07.2002 |
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Name : |
Mrs. Lata Sharma |
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Designation : |
Director |
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Address : |
383/8, East Azad Nagar, |
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Date of Birth/Age : |
04.08.1965 |
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Date of Appointment : |
30.01.2009 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2009
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Names of Shareholders |
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No. of Shares |
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Mr. Manikant Sharma |
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1000 |
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Mrs. Lata Sharma |
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9000 |
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Total |
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10000 |
AS ON 30.09.2009
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Equity Share
Breakup |
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Percentage of
Holding |
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Category |
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Directors or relatives of directors |
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100.00 |
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Total
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Electrical Products. |
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Exports : |
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Products : |
Electrical Products |
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Countries : |
Germany Nigeria Bangladesh Singapore |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China USA |
GENERAL INFORMATION
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Customers : |
Retailers OEM’s |
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No. of Employees : |
50 (10 in office and 40 in factory) (Approximately) |
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Bankers : |
·
Bank of India, Jhandewalan, New Delhi-110005,
Delhi, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
GSK and Associates Chartered Accountant |
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Address : |
8, 1st Floor, Rani Jhansi Road, Motia Khan Industrial Area,
New Delhi-110055, Delhi, India |
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Sister Concern : |
Market Electronic, New Delhi, India |
CAPITAL STRUCTURE
As On : 31.03.2009
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs. 10/- each |
Rs. 0.500 million |
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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 Shares |
Rs. 10/- each |
Rs. 0.100
million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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2] Share Application Money |
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2.624 |
2.624 |
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3] Reserves & Surplus |
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0.009 |
0.093 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH |
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2.733 |
2.817 |
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LOAN FUNDS |
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1] Secured Loans |
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4.866 |
4.771 |
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2] Unsecured Loans |
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2.796 |
2.212 |
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TOTAL BORROWING |
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7.662 |
6.983 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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10.395 |
9.800 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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4.639 |
4.823 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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0.000 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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3.586 |
3.911 |
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Sundry Debtors |
|
1.476 |
0.856 |
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Cash & Bank Balances |
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0.716 |
0.168 |
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Other Current Assets |
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0.331 |
0.327 |
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Loans & Advances |
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1.453 |
0.125 |
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Total
Current Assets |
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7.562 |
5.387 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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0.041
|
0.248 |
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Other Current Liabilities |
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1.779 |
0.179 |
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Provisions |
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0.001 |
0.001 |
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Total
Current Liabilities |
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1.821 |
0.428 |
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Net Current Assets |
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5.741 |
4.959 |
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MISCELLANEOUS EXPENSES |
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0.015 |
0.018 |
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TOTAL |
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10.395 |
9.800 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2009 |
31.03.2008 |
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SALES |
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Income |
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1.711 |
1.219 |
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Other Income |
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0.392 |
0.478 |
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TOTAL (A) |
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2.103 |
1.697 |
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Less |
EXPENSES |
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Manufacturing Expenses |
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1.048 |
0.830 |
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Administrative Expenses |
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0.171 |
0.166 |
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TOTAL (B) |
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1.219 |
0.996 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
0.884 |
0.701 |
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Less |
FINANCIAL
EXPENSES (D) |
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0.783 |
0.555 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
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0.101 |
0.146 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
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0.185 |
0.185 |
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PROFIT BEFORE
TAX (E-F) (G) |
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(0.084) |
(0.039) |
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Less |
TAX (H) |
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0.000 |
0.001 |
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PROFIT AFTER TAX
(G-H) (I) |
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(0.084) |
(0.040) |
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BALANCE CARRIED
TO THE B/S |
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(0.084) |
(0.040) |
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KEY RATIOS
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PARTICULARS |
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|
31.03.2009 |
31.03.2008 |
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PAT / Total Income |
(%) |
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(3.99) |
(2.36) |
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Net Profit Margin (PBT/Sales) |
(%) |
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(4.91) |
(3.20) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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(0.69) |
(0.38) |
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Return on Investment (ROI) (PBT/Networth) |
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(0.03) |
(0.01) |
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Debt Equity Ratio (Total Liability/Networth) |
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3.47 |
2.63 |
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Current Ratio (Current Asset/Current Liability) |
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4.15 |
12.59 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULT :
The Company
effected a gross turnover of Rs.2.103 millions during the current year and
suffered loss of Rs. 0.084 million after providing depreciation of Rs. 0.185
million as against turnover of Rs. 1.697 millions in the previous year and
suffered loss of Rs. 0.040 million after providing depreciation of Rs. 0.185
million.
TRADE REFERENCE:
·
Sukem Industries
·
Micro Tek
FORM 8
|
Corporate
identity number of the company |
U31909DL2002PTC116040 |
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Name of the
company |
HOME
AUTOMATION (INDIA) PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
3, 1st Floor, Savita Vihar, New Delhi – 110092, India |
|
This form is for |
Creation of charge |
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Type of charge |
Movable property (not being pledge) Floating charge |
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Particular of
charge holder |
Bank of India, Jhandewalan, New Delhi-110005, Delhi, India |
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Nature of
instrument creating charge |
Hypothecation
cum loan Agreement dated 05.02.2010 |
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Date of
instrument Creating the charge |
05.02.2010 |
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Amount secured by
the charge |
Rs.2.000 millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 12.25%
p.a. Terms of
repayment On Demand Margin 25% Extent and
operation of the charge 100% Other The
Above is to secure the Cash Credit (Hypothecation of Stock) of Rs. 2.000
millions together with interest, costs, expenses, interest etc. |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation
of Stock and all tangible movable machineries and plants both present and
future whether installed of not and whether lying loose or at site or in
transit or acquired subsequently hereunder written or which may at any time
during the continuance of this security being installed or lying loose or in
cases or being in or upon or about the borrower's premises godowns at
D10/B-3, Tronica City, Ghaziabad or wherever else the same may be or be held
by any party anywhere to the order and disposition of the borrower. |
|
Charge
identification number of the charge to be modified |
110092 |
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.45.18 |
|
|
1 |
Rs.72.79 |
|
Euro |
1 |
Rs.62.15 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
2 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
2 |
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--CREDIT LINES |
1~10 |
2 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
|
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--BANK CHARGES |
YES/NO |
YES |
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--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 |
|
27 |
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.