MIRA INFORM REPORT

 

 

Report Date :

14.03.2011

 

IDENTIFICATION DETAILS

 

Name :

ELAARS POOLS PRIVATE LIMITED

 

 

Registered Office :

6, Premier Plaza, Phase 2, Mumbai-Pune Highway, Chinchwad, Pune - 411 019, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2009

 

 

Date of Incorporation :

03.08.2006

 

 

Com. Reg. No.:

25-128844

 

 

CIN No.:

[Company Identification No.]

U45209PN2006PTC128844

 

 

TAN No.:

[Tax Deduction & Collection Account No.]

PNEE02075D

 

 

PAN No.:

[Permanent Account No.]

AABCE6571C

 

 

Legal Form :

Private  Limited Liability Company

 

 

Line of Business :

Importer of Ceramic Tiles, Filtration Equipments and Residential Wooden Floorings.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (44)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 54000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually correct

 

 

Litigation :

Clear

 

 

Comments :

Subject is an established company having satisfactory track. Trade relations are fair. Business is active. Payments are reported usually correct and as per commitments.

 

The company can be considered for business dealing 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)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

INFORMATION PARTED BY

 

Name :

Mr. Imran Bagwan

Designation :

Accounts Department

 

 

LOCATIONS

 

Registered Office/ Factory :

6, Premier Plaza, Phase 2, Mumbai-Pune Highway, Chinchwad, Pune - 411 019, Maharashtra, India

Tel No.:

91-20-66114215/ 16

Fax No.;

91-20-27400428/ 6614215

E-Mail :

liyakat@vsnl.net

pune@elaarspools.com

imran@elaarspools.com

asif@elaarspools.com

Website :

www.elaarspools.com

Location :

Owned

 

 

Branch Office and Warehouse  :

Shop No.15, Makhdoomiya Manzil, Sainath wadi, Saki Naka, Mumbai - 400 072, Maharashtra, India 

Area :

5500 sq ft

Location :

Rented

 

 

Regional Office :

Located at:

 

·         Jalandhar

·         Bangalore

 

 

DIRECTORS

 

As on 30.09.2009

 

Name :

Mr. Mehjabeen Liyakat Shaikh

Designation :

Director

Address :

Plot No. 20, Sector No. 24, Pradhkaran, Nigdi, Pune-411044, Maharashtra, India

Date of Birth/Age :

27.10.1964

Date of Appointment :

03.08.2006

Other Directorship :

Freewill Infrastructures Private Limited

U45203PN2005PTC020665

 

 

Name :

Mr. Liyakat Abdul Razak Shaikh

Designation :

Director

Address :

Plot No. 20, Sector No. 24, Pradhkaran, Nigdi, Pune-411044, Maharashtra, India

Date of Birth/Age :

25.05.1962

Date of Appointment :

03.08.2006

Other Directorship :

Freewill Infrastructures Private Limited

U45203PN2005PTC020665

 

 

KEY EXECUTIVES

 

Name :

Mr. Imran Bagwan

Designation :

Accounts Department

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2009

 

Names of Shareholders

 

 

No. of Shares

Mehjabeen Liyakat Shaikh

 

5000

Liyakat Abdulrazak Shaikh

 

445000

 

 

 

Total

 

450000

 

Equity Share Breakup As on 30.09.2009

 

Category

 

 

Percentage

Directors or relatives of directors

 

100.00

Total

 

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Importer of Ceramic Tiles, Filtration Equipments and Residential Wooden Floorings.

 

 

Brand Names :
  • Bombas
  • Thermalec
  • Fiberstars
  • SuperVision
  • Kotisauna
  • Inbeca
  • Compool
  • Chemtrol,
  • CAT
  • Aquamatic
  • AquaVac
  • Aqua Queen
  • Clearwater Tech
  • Paddock
  • Deck Equipment
  • Durafirm
  • Duraflex

 

 

Agencies Held :
  • Astral Pools, USA
  • Certikin Pools, United Kingdom
  • Flcer Gres (Tiles)
  • Florim Ceramics S.p.A, Italy
  • Haro Flooring, Germany 

 

 

Imports :

 

Products :

Ceramics Tiles

Countries :
  • Italy 
  • Spain
  • Germany

 

 

Terms :

 

Selling :

Credit (30 days)

 

 

Purchasing :

Credit (90 Days)

 

 

GENERAL INFORMATION

 

Customers :
  • End Users
  • Retailers
  • Private Institution

 

Educational Institute

 

  • Sadhana Vidyalaya, Hadapsar
  • Sinhgad Technical Education, Society Pune
  • Janaki International Residential School, Thane
  • Sinhagad Technical Education Society Vad Bk, Pune

 

Hotels, Resorts and Clubes

 

  • Krishna Valley Club, Sangali
  • Satara Club, Satara
  • Panchashil Club, Moshi
  • Ordnace Factories Club, Kirkee

 

Government and Semi-Government Organisation

 

  • P.C.M. Pool In Thergaon
  • P.C. M. Pool In Bhosari
  • P.C. M. Pool Keshavnagar
  • P.C.M. Pool Mohannnagar
  • District Sports Complex, Akola
  • P.C. M. Pool Sanghvi
  • District Sports Complex, Nandurbar

 

Private Residences

 

  • Finolex Holiday Homes, Panchgani
  • Finolex Holiday Homes, Goa
  • Vekanteshwara Pan Masala Limited, Sangli
  • Mr. Rahul Bhatta, Khandala

 

Condominiums

 

  • Sonigara Rothod and Associates Dehuroad
  • IKA NA MIDORI, Kasturi Housing, Pune
  • LA Vida Loca, Kasturi Housing, Pimpari
  • Magarpatta City, Hadapsar
  • Bramha Avenue, Kondhwa

 

Software Park

 

  • Logitech Park, Mumbai

 

 

No. of Employees :

15 ( In Office – 15)

Contract Workers – 20

 

 

Bankers :
  • The Cosmos Co-Operative Bank Limited, Chinchwad Branch, Premier Plaza, Mumbai – Pune Highway, Chinchwad, Pune-411019, Maharashtra, India
  • HDFC Bank, Plot No.1, Sector 27 A, PCNTDA, Pune – 411018, Maharashtra, India

 

 

Facilities :

Secured Loans :

 

As on 31.03.2009

Rs. in Millions

Loans and Advances from Banks

 

Cosmos Bank (Cash Credit)

(Secured against hypothecation of stocks and receivable)

2.068

Total

2.068

 

Unsecured Loans :

As on 31.03.2009

Rs. in Millions

Unsecured Loan from Directors, Shareholders and Relatives

1.300

Total

1.300

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

S Gautam and Associates

Chartered Accountant

Address :

Shop No. 25, ‘B’ Wing (Rear), 1st Floor, Kamala Cross Roads, Opposite PCMC Building, Pimpari, Pune-411018, Maharashtra, India

Tel. No.:

91-20-27425872/73

Fax No.:

91-20-27425871

E-Mail :

gautam@sgautam.com

akshay@sgautam.com

 

 

Associates/Subsidiaries :

Freewill Infrastructure Private Limited

Address : 67-15, Premier Plaza, Phase II, Shop No. 6, Bombay Pune Highway, Chinchwad, Pune-411019, Maharashtra, India

Line of Business: Sports Infrastructure

 

Summit Sports and Fitness Equipments

Address : 67/15, 1st Floor, G Block, MIDC, Chinchwad, Pune – 411019, Maharashtra, India

Line of Business : Sports Equipment and Goods Supplier

 

 

 

CAPITAL STRUCTURE

 

As on 30.09.2009

 

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

 

 

 

 

450000

Equity Shares

Rs. 10/- each

Rs. 4.500 Millions

 

 

 

 

 

 

 

 

 

 

FINANCIAL DATA

[all figures are in Rupees Millions]

 

ABRIDGED BALANCE SHEET

 

SOURCES OF FUNDS

 

31.03.2009

31.03.2008

31.03.2007

SHAREHOLDERS FUNDS

 

 

 

1] Share Capital

4.500

4.500

0.100

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

8.931

5.052

0.000

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

13.431

9.552

0.100

LOAN FUNDS

 

 

 

1] Secured Loans

2.068

0.309

0.000

2] Unsecured Loans

1.300

0.500

0.000

TOTAL BORROWING

3.368

0.809

0.000

DEFERRED TAX LIABILITIES

0.000

0.000

0.000

 

 

 

 

TOTAL

16.799

10.361

0.100

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

4.678

5.736

0.000

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

0.100

0.000

0.000

DEFERREX TAX ASSETS

0.081

0.010

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
15.271

2.879

0.000

 

Sundry Debtors
9.284

10.856

0.000

 

Cash & Bank Balances
4.757

2.495

0.047

 

Other Current Assets
0.000

0.000

0.000

 

Loans & Advances
5.131

5.883

0.000

Total Current Assets
34.443

22.113

0.047

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Current Liabilities
20.664
16.703

0.000

 

Provisions
1.871
0.837

0.000

Total Current Liabilities
22.535

17.540

0.000

Net Current Assets
11.908

4.573

0.047

 

 

 

 

MISCELLANEOUS EXPENSES

0.032

0.042

0.053

 

 

 

 

TOTAL

16.799

10.361

0.100

 

 

 

 

PROFIT & LOSS ACCOUNT

 

PARTICULARS

 

 

31.03.2009

31.03.2008

Total Income

 

55.198

71.275

 

 

 

 

Profit/(Loss) Before Tax

 

5.901

7.522

Provision for Taxation

 

2.022

2.470

Profit/(Loss) After Tax

 

3.878

5.051

 

 

 

 

Total Expenditure

 

49.297

63.753

 

 

 

 

Earnings Per Share (Rs.)

 

8.62

NA

 

Particulars

 

 

 

31.03.2010

Sales Turnover

 

 

37.900

(Due to Recession)

 

 

 

 

 

Expected Sales (2010-11): Rs.80.000 millions

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2009

31.03.2008

31.03.2007

PAT / Total Income

(%)
7.03

7.09

NA

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
10.69

10.55

NA

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
15.08

27.01

NA

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.44

0.79

NA

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
1.93

1.92

0.00

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
1.53

1.26

0.00

 

 

 

 

 

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Note:

The registered office of the company has been shifted from 67-15, Premier Plaza, Phase II, Shop No. 6, Bombay Pune Highway, Chinchwad, Pune-411 019, Maharashtra to the present address.

 

TRADE REFERENCES:

 

·         Amar Builders

 

Bankers Charges Report as per Registry

 

Corporate identity number of the company

U45209PN2006PTC128844

Name of the company

ELAARS POOLS PRIVATE LIMITED

Address of the registered office or of the principal place of  business in India of the company

Premier Plaza, Phase II, Shop No. 6, Bombay Pune Highway, Chinchwad, Pune-411019, Maharashtra, India

This form is for

Creation of charge

Type of charge

Movable Property

Particular of charge holder

The Cosmos Co-Operative Bank Limited, Chinchwad Branch, Premier Plaza, Mumbai – Pune Highway, Chinchwad, Pune-411 019, Maharashtra, India

Nature of description of the instrument creating or modifying the charge

Letter of Hypothecation of Vehicle/s

Date of instrument Creating the charge

04.07.2009

Amount secured by the charge

Rs.0.465 million

Brief particulars of the principal terms an conditions and extent and operation of the charge

Rate of Interest

Rate of Interest - 13.00% Per Annum

 

Terms of Repayment

The Repayment of the loan by Emi of Rs.0.012 millions Per Month 48 Monthly Installments Starting From Date 4th August 2009.

 

Margin

Margin - 40% Valuation

 

Extent and Operation of the charge

 

Skoda Laura Eleg 1.9 Pd  Car

Registration No MH 14 - BC 1102,

Engine No- BJB 202907,

Chasis No. TMBBSD12578151492.

Mfg Year 2007.

Including Its Spares, Tools, Accessories, Software etc.

Short particulars of the property charged

Skoda Laura Eleg 1.9 Pd  Car

Registration No MH 14 - BC 1102,

Engine No- BJB 202907,

 

Chasis No. TMBBSD12578151492.

MFG Year 2007.

Including Its Spares, Tools,  Accessories, Software etc.

 

FIXED ASSETS:

 

  • Office
  • Machinery
  • Electrical Installation
  • Furniture and Fixtures
  • Computers and Peripherals
  • Office Equipments
  • Vehicles

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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. 45.21

UK Pound

1

Rs. 72.54

Euro

1

Rs. 62.43

 

 

 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

4

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

NO

--AFFILIATION

YES/NO

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

TOTAL

 

44

 

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

-

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.