MIRA
INFORM REPORT
|
Report Date : |
17.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
CARAVEL MOTORS PRIVATE LIMITED (w.e.f.
09.08.2002) |
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Formerly Known
As : |
PRAMUKH MOTORS PRIVATE LIMITED |
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Registered
Office : |
A-406, Somdutt Chamber – 1, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of Incorporation
: |
17.06.1996 |
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Com. Reg. No.: |
55-079698 |
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CIN No.: [Company Identification
No.] |
U34101DL1996PTC079698 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trading in Motor Vehicles, Spare Parts and Accessories |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (47) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 67600 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are 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) |
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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 : |
A-406, Somdutt Chamber – 1, |
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Mobile No.: |
91-9227778801 (Mr. Praful Chauhan) |
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E-Mail : |
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Showroom : |
Plot No. 842/1, Opposite GSFC, Chhani, |
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Tel. No.: |
91-265-6631000 / 015 / 016 / 017 |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Pravesh Nanda |
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Designation : |
Director |
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Address : |
1/9B, Jindal House, |
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Date of Appointment : |
17.06.1996 |
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DIN : |
00063679 |
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Name : |
Mrs. Mukkul Nanda |
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Designation : |
Director |
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Address : |
1/9B, Jindal House, |
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Date of Appointment : |
17.06.1996 |
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DIN : |
00061807 |
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Name : |
Mrs. Neha Pramukh Nanda |
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Designation : |
Director |
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Address : |
16, Ring Road, Lajpat Nagar – IV, |
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Date of Birth/Age : |
11.09.1977 |
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Date of Appointment : |
02.02.2002 |
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DIN : |
02413415 |
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Name : |
Mr. Pranav Nanda |
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Designation : |
Director |
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Address : |
16, Ring Road, Lajpat Nagar – IV, |
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Date of Birth/Age : |
20.12.1979 |
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Date of Appointment : |
29.09.2008 |
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DIN : |
00167700 |
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Name : |
Mr. Pramukh Nanda |
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Designation : |
Director |
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Address : |
16, Ring Road, Lajpat Nagar – IV, |
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Date of Birth/Age : |
07.06.1977 |
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Date of Appointment : |
09.08.1996 |
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DIN : |
01581380 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
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Mr. Pravesh Nanda |
|
87010 |
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Mrs. Mukkul Nanda |
|
217010 |
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Mr. Pramukh Nanda |
|
126980 |
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Mr. Pranav Nanda |
|
37000 |
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Mr. Pravesh Nanda (HUF) |
|
32000 |
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Total |
|
500000 |
AS ON 30.09.2010
|
Category |
Percentage |
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Bodies corporate |
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Directors or relatives of Directors |
93.60 |
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Others |
6.40 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trading in Motor Vehicles, Spare Parts and Accessories |
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Products : |
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GENERAL INFORMATION
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Bankers : |
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Facilities : |
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
RKM and Associates Chartered Accountant |
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Address : |
D-44, Kalkaji, |
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Tel. No.: |
91-11-26436137 / 26436138 / 26439152 |
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Fax No.: |
91-11-40588922 |
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E-Mail : |
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Website : |
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PAN No.: |
AAEPM7958H |
CAPITAL STRUCTURE
AS ON 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
1,000,000 |
Equity Shares |
Rs.10/-each |
Es.10.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
500,000 |
Equity Shares |
Rs.10/-each |
Es.5.000 millions |
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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 |
|
|
SHAREHOLDERS FUNDS |
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|
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1] Share Capital |
5.000 |
5.000 |
5.000 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
11.901 |
6.349 |
4.437 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
16.901 |
11.349 |
9.437 |
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LOAN FUNDS |
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|
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1] Secured Loans |
14.795 |
0.816 |
14.328 |
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2] Unsecured Loans |
2.581 |
1.200 |
0.000 |
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TOTAL BORROWING |
17.376 |
2.016 |
14.328 |
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DEFERRED TAX LIABILITIES |
0.256 |
0.000 |
0.000 |
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TOTAL |
34.533 |
13.365 |
23.765 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
5.126 |
4.108 |
4.464 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.151 |
0.151 |
0.151 |
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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 |
16.146
|
8.068 |
12.053 |
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Sundry Debtors |
16.554
|
5.216 |
5.259 |
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Cash & Bank Balances |
1.938
|
5.484 |
10.755 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
7.668
|
4.834 |
4.412 |
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Total
Current Assets |
42.306
|
23.602 |
32.479 |
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|
Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
4.043
|
8.329 |
8.427 |
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Other Current Liabilities |
5.158
|
4.443 |
3.726 |
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Provisions |
3.849
|
1.724 |
1.176 |
|
Total
Current Liabilities |
13.050
|
14.496 |
13.329 |
|
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Net Current Assets |
29.256
|
9.106 |
19.150 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
34.533 |
13.365 |
23.765 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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|
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Income |
307.478 |
220.047 |
100.584 |
|
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Other Income |
13.871 |
8.296 |
3.289 |
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TOTAL (A) |
321.349 |
228.343 |
103.873 |
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Less |
EXPENSES |
|
|
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|
|
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|
Purchase of Trading Goods |
306.588 |
209.796 |
109.119 |
|
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Work Shop Expenses |
1.715 |
1.037 |
0.629 |
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Payments to and provision to employees |
5.296 |
3.781 |
1.085 |
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Administrative and Miscellaneous Expenses |
5.096 |
4.080 |
3.272 |
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Donation |
0.026 |
0.009 |
0.014 |
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Service tax paid on rent |
0.000 |
0.000 |
0.072 |
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Interest paid to others |
0.099 |
0.000 |
0.000 |
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|
Preliminary Expenses Written off |
0.000 |
0.000 |
0.004 |
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Increase/Decrease in stock |
(8.078) |
3.984 |
(12.053) |
|
|
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TOTAL (B) |
310.742 |
222.687 |
102.142 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
10.607 |
5.656 |
1.731 |
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Less |
FINANCIAL
EXPENSES (D) |
1.799 |
1.841 |
0.708 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
8.808 |
3.815 |
1.023 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.875 |
0.779 |
0.479 |
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PROFIT BEFORE
TAX (E-F) (G) |
7.933 |
3.036 |
0.544 |
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Less |
TAX (I) |
2.382 |
1.085 |
0.174 |
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PROFIT AFTER TAX
(G-I) (J) |
5.551 |
1.951 |
0.370 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
6.350 |
4.438 |
4.068 |
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Prior
Period Adjustment |
0.000 |
(0.039) |
0.000 |
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BALANCE CARRIED
TO THE B/S |
11.901 |
6.350 |
4.438 |
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Earnings Per
Share (Rs.) |
11.10 |
3.90 |
0.74 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
1.73
|
0.85 |
0.36 |
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|
Net Profit Margin (PBT/Sales) |
(%) |
2.58
|
1.38 |
0.54 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
16.72
|
10.96 |
1.47 |
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.47
|
0.27 |
0.06 |
|
|
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|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
1.80
|
1.45 |
2.93 |
|
|
|
|
|
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|
Current Ratio (Current Asset/Current Liability) |
|
3.24
|
1.63 |
2.44 |
LOCAL AGENCY FURTHER INFORMATION
NOTE
Registered office of the company has been shifted from 1/9B, Jindal
House,
OPERATIONAL
RESULTS
During the year the company sold 583 vehicles of different models of
Mahindra and Mahindra Limited which comprises of Logan, XYLO, Scorpio and
Utility Vehicles as against 421 vehicles in the previous year. The turnover
during the year was Rs. 307.478 millions as against Rs. 220.047 millions as
compared to previous year. There was an increase of Workshop Receipt for the
current year as compared to the previous year. The Workshop receipt increased
to Rs. 6.892 million in the current year as compared to Rs. 3.572 million of
the previous year.
OUTLOOK
They are looking at positioning Caravel Motors Private Limited among the
top players. They are expecting much stronger years ahead both in terms of
revenue and margin growth in the coming years on the back of successful
execution and implementation of their business strategy and plan.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge identification
number of the modified |
90053696 |
|
Corporate
identity number of the company |
U34101DL1996PTC079698 |
|
Name of the
company |
CARAVEL MOTORS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
A-406, Somdutt Chamber – 1, |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Union Bank of email : cbsbodakdev@unionbankofindia.com
|
|
Nature of
description of the instrument creating or modifying the charge |
Deposit of
extension of memorandum dated 26.03.2009 |
|
Date of instrument
Creating the charge |
25.03.2009 |
|
Amount secured by
the charge |
Rs.30.000 million |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
- NA Terms of
Repayment - NA Margin - NA Extent and
Operation of the charge – A pari passu first charge operates till the
repayment of all dues in respect of above credit facility availed/ to be
availed by Concept Motors ( |
|
Short particulars
of the property charged |
As per attached
extension of memorandum dated 26.03.2009 |
FIXED ASSETS
- Building
- Plant and Machinery
- Furniture and Fixtures
- Office Equipment
- Vehicles
- Computers
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.75.58 |
|
Euro |
1 |
Rs.63.13 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
47 |
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.