MIRA
INFORM REPORT
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Report Date : |
16.03.2011 |
IDENTIFICATION DETAILS
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Name : |
EUROLUX FRAGRANCES PRIVATE LIMITED |
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Registered Office : |
C – 77, Mayapuri Industria Area, Phase – II, |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
30.06.2007 |
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Com. Reg. No.: |
55-165410 |
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CIN No.: [Company
Identification No.] |
U18204DL2007PTC165410 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELE04620A |
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PAN No.: [Permanent
Account No.] |
AABCE7997G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Perfumes and Body Care Products. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 18000 |
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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 record.
Trade relations are fair. Business is active. Payments are reported to be
usually correct and as per commitments. The company can be considered normal 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
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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 |
LOCATIONS
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Registered Office/ Factory : |
C – 77, Mayapuri Industria Area, Phase – II, |
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Mobile No.: |
91-9811334427 |
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E-Mail : |
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Website : |
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Locations : |
Rented |
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Corporate Office : |
Plot No.78, Sector 6, IMT Manesar, Gurgaon – 122050, |
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Tel. No.: |
91-124-4368889/ 92 |
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Fax No.: |
91-124-4368885 |
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E-Mail : |
DIRECTORS
AS ON 30.09.2010
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Name : |
Mr. Govinder Singh Kohli |
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Designation : |
Director |
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Address : |
C-2/20, DLF Phase – I, Gurgaon – 122001, |
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Date of Birth/Age : |
28.12.1944 |
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Date of Appointment : |
30.06.2007 |
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Name : |
Mr. Sarabjit Kohli |
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Designation : |
Director |
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Address : |
C-2/20, DLF Phase – I, Gurgaon – 122001, |
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Date of Birth/Age : |
15.06.1976 |
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Date of Appointment : |
30.06.2007 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Mr. Govinder Singh Kohli |
5000 |
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Mr. Sarabjit Kohli |
5000 |
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Total |
10000 |
AS ON 30.09.2010
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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 of Perfumes and Body Care Products. |
GENERAL INFORMATION
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No. of Employees : |
7 Approximately |
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Bankers : |
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Facilities : |
Rs. In Millions
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
K V V and Associates Chartered Accountant |
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Address : |
253/B-1, 1st Floor, Rama Market, Munirka, |
CAPITAL STRUCTURE
AS ON 30.09.2010
Authorised 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 |
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 |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
4.553 |
1.049 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
(0.544) |
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NETWORTH |
4.653 |
1.149 |
(0.444) |
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LOAN FUNDS |
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1] Secured Loans |
0.802 |
0.981 |
0.000 |
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2] Unsecured Loans |
4.139 |
5.998 |
4.306 |
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TOTAL BORROWING |
4.941 |
6.979 |
4.306 |
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DEFERRED TAX LIABILITIES |
0.073 |
0.064 |
0.000 |
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TOTAL |
9.667 |
8.192 |
3.862 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
6.876 |
7.160 |
1.648 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.121 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
10.262
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8.460 |
0.228 |
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Sundry Debtors |
4.352
|
1.814 |
3.498 |
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Cash & Bank Balances |
2.823
|
1.375 |
0.533 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
6.882
|
1.505 |
0.286 |
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Total
Current Assets |
24.319
|
13.154 |
4.545 |
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Less : CURRENT LIABILITIES & PROVISIONS |
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Sundry Creditors |
17.845
|
9.961 |
0.977 |
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Current Liabilities |
1.692
|
1.535 |
1.482 |
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Provisions |
2.000
|
0.640 |
0.011 |
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Total
Current Liabilities |
21.537
|
12.136 |
2.470 |
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Net Current Assets |
2.782
|
1.018 |
2.075 |
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MISCELLANEOUS EXPENSES |
0.009 |
0.014 |
0.018 |
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TOTAL |
9.667 |
8.192 |
3.862 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Sales |
101.200 |
44.400 |
3.499 |
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Other Income |
0.000 |
0.000 |
0.000 |
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TOTAL (A) |
101.200 |
44.400 |
3.499 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
95.712 |
41.991 |
4.153 |
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Advertising Expenses |
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TOTAL (B) |
95.712 |
41.991 |
4.153 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
5.488 |
2.409 |
(0.654) |
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Less |
FINANCIAL
EXPENSES (D) |
NA |
NA |
NA |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5.488 |
2.409 |
(0.654) |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
NA |
NA |
NA |
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PROFIT BEFORE
TAX (E-F) (G) |
5.488 |
2.409 |
(0.654) |
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Less |
TAX (H) |
2.000 |
0.526 |
0.000 |
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PROFIT AFTER TAX
(G-H) (I) |
3.488 |
1.883 |
(0.654) |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
92.477 |
44.370 |
NA |
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Earnings Per
Share (Rs.) |
348.85 |
188.38 |
-- |
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KEY RATIOS
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PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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PAT / Total
Income |
(%) |
3.44
|
4.24 |
18.69 |
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Net Profit Margin (PBT/Sales) |
(%) |
5.42
|
5.42 |
18.69 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
17.59
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11.85 |
10.56 |
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Return on Investment (ROI) (PBT/Networth) |
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1.17
|
2.09 |
(1.47) |
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Debt Equity Ratio (Total Liability/Networth) |
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5.70
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16.69 |
15.26 |
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Current Ratio (Current Asset/Current Liability) |
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1.12
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1.08 |
1.84 |
LOCAL AGENCY FURTHER INFORMATION
WORKING RESULT:
During the
financial year, the Company achieved export turnover of Rs 101.200 millions
(Previous Year Rs 44.400 millions) and earned Net Profit of Rs 5.488 millions (Previous
Year 2.409 millions) .The Directors are making efforts to achieve best results
in the subsequent years.
Fixed Assets:
- Plant and Machinery
- Furniture and Fixture
- Office Equipment
FORM 8
|
Corporate
identity number of the company |
U18204DL2007PTC165410 |
|
Name of the
company |
EUROLUX FRAGRANCES PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
C – 77, Mayapuri Industria Area, Phase – II, |
|
This form is for |
Creation of
charge |
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Type of charge |
Immovable
property Movable property
(not being pledge) Floating charge |
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Particular of
charge holder |
Indian Overseas Bank, IOB Palika Bhawan, Sector 13, R K Puram, Email: rkpubr@delscoiobnet.co.in
|
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Nature of
instrument creating charge |
Credit Sanction
Advice, Form F-110E towards Letter of Hypothecation for securing Machineries/Goods/Book
Debts, Form F-16,F-286 securing documents of title to goods/accepted Hundies,
Agreements, Letter for deposits of Title Deed of immovable property. |
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Date of
instrument Creating the charge |
05.11.2009 |
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Amount secured by
the charge |
Rs. 20.500
millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Packing Credit and
FDDBP/FDUBD(BILLS) :- BPLR Minus 3% Per Annum With Minimum 9% Per Annum ,
Term Loan :- BPLR Minus 3% Per Annum With Minimum of 10.5% Per Annum. Terms of repayment 1). Term Loan Is
To Be Repaid In 48 Monthly Instalments of Rs. 0.077 million From Jan 2010 Or
From 4th Month Of The Date Of Disbursement, Whichever Is Earlier (With
Holiday Period Of 3 Months).Holiday Period Interest Is To Be Served Every
Month By Borrower. 2). Other Loans:
Monthly Interest Will Be Served As And When Debited To The Account Of
Borrower. 3). Penal
Interest At The Rate Of 2% Over And Above The Margin Packing Credit :-
25%, Term Loan :- 25%, Bills :- 15% Extent and operation of the charge Hypothecation Of
Stock/Goods And Equitable Mortagage Of Residential Property At H-404,
Ambience Lagoon, Nh-8, Nathupur, Gurgaon, Haryana, Measuring Super Area
Approx.3156 Sqft. In The Name Of Director Mr. Govinder Singh Kohli And His
Wife Mrs. Surjit Kaur Kohli, In Gurgaon. Other Personal
Guarantee Of The Director Mr. Sarabjit Kohli, Govinder Singh Kohli And Mrs.
Surjit Kaur Kohli. |
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Short particulars
of the property charged (Including location of the property) |
Conveyance Deed
No. 10374 Dated 04.11.2003 Executed By M/S Ambience Infrastructure Private
Limited For Residential Flat No. H-404,Ambience Lagoon, Nh-8 Nathupur
Gurgaon, Haryana. |
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Whether any of
the property or interest therein under reference is not registered in the
name of the company. If yes, in whose
name it is registers |
Yes, In The Name of
Director Mr. Govinder Singh Kohli and His Wife Mrs. Surjit Kaur Kohli. |
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 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.45.27 |
|
|
1 |
Rs.72.95 |
|
Euro |
1 |
Rs.63.08 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
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|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
|
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--BANK CHARGES |
YES/NO |
YES |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
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--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.