BUSINESS INFORMATION REPORT
1. Summary Information
|
|
|
Country |
|
|
Company Name |
ELECTROMART STORES PRIVATE LIMITED |
Principal Name 1 |
MR. RAHUL LOHIA |
|
Status |
MODERATE |
Principal Name 2 |
MR. NEERAJ KUMAR KHEMKA |
|
|
|
Registration # |
55-117829 |
|
Street Address |
A – 48, LGF, DAYANAND COLONY, LAJPAT NAGAR, |
||
|
Established Date |
28.11.2002 |
SIC Code |
-- |
|
Telephone# |
-- |
Business Style 1 |
RETAILER |
|
Fax # |
-- |
Business Style 2 |
-- |
|
Homepage |
-- |
Product Name 1 |
CONSUMER ELECTRONICS PRODUCTS |
|
# of employees |
-- |
Product Name 2 |
-- |
|
Paid up capital |
Rs.15,695,500/- |
Product Name 3 |
-- |
|
Shareholders |
BODIES CORPORATE-78.46% DIRECTORS OR RELATIVES OF DIRECTORS-21.54% |
Banking |
BANK OF |
|
Public Limited Corp. |
NO |
Business Period |
8 YEARS |
|
IPO |
NO |
International Ins. |
-- |
|
Public |
NO |
Rating |
B (29) |
|
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 |
21,429,000
|
Current Liabilities |
16,478,000
|
|
Inventories |
27,362,000
|
Long-term Liabilities |
12,578,000 |
|
Fixed Assets |
12,770,000 |
Other Liabilities |
445,000
|
|
Deferred Assets |
0,000 |
Total Liabilities |
29,501,000 |
|
Invest& other Assets |
0,000 |
Retained Earnings |
11,365,000 |
|
|
|
Net Worth |
32,060,000 |
|
Total Assets |
61,561,000 |
Total Liab. & Equity |
61,561,000 |
|
Total Assets (Previous Year) |
54,245,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
179,022,000 |
Net Profit |
121,000 |
|
Sales(Previous yr) |
152,221,000 |
Net Profit(Prev.yr) |
393,000 |
MIRA INFORM
REPORT
|
Report Date : |
26.03.2011 |
IDENTIFICATION DETAILS
|
Name : |
ELECTROMART STORES PRIVATE LIMITED |
|
|
|
|
Formerly Known As : |
WAL MART STORES
PRIVATE LIMITED |
|
|
|
|
Registered Office : |
A – 48, LGF, Dayanand Colony, Lajpat Nagar, New Delhi - 110 016 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.03.2010 |
|
|
|
|
Date of Incorporation : |
28.11.2002 |
|
|
|
|
Com. Reg. No.: |
55-117829 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U51909DL2002PTC117829 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
DELW01149B |
|
|
|
|
PAN No.: [Permanent
Account No.] |
AAACW4910E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Subject is a Retailer of Consumer Electronics Products. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 128000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
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 but correct. The company can be considered for small to mediocre 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) |
|
|
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 : |
A – 48, LGF, Dayanand Colony, Lajpat Nagar, New Delhi - 110 016, India
|
|
E-Mail : |
|
|
|
|
|
Corporate Office: |
P–5, Ground Floor, |
|
Tel No.: |
91-120-2514086/87/4316773 |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Rahul Lohia |
|
Designation : |
Director |
|
Address : |
Maitri Kunj, |
|
Date of Birth/Age : |
12.10.1985 |
|
Date of Appointment : |
27.10.2003 |
|
DIN No.: |
00290500 |
|
|
|
|
Name : |
Mr. Neeraj Kumar Khemka |
|
Designation : |
Director |
|
Address : |
A – 24, Sector 26, Noida - 201 301, |
|
Date of Birth/Age : |
10.12.1978 |
|
Date of Appointment : |
17.11.2003 |
|
DIN No.: |
00727255 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Sunita Devi Lohia |
|
5000 |
|
AKP Engineering Works Private Limited, |
|
100000 |
|
Perfection Engineering Works Private Limited, |
|
100000 |
|
Visionatic Engineering Works Private Limited, |
|
50000 |
|
Zeenet Marketing Private Limited, |
|
150000 |
|
Rajnigandha Marketing Private Limited, |
|
100000 |
|
Rajesh Vanijya Private Limited, |
|
125000 |
|
Deepsikha Advisory Services Private Limited, |
|
150000 |
|
PNR Holding Private Limited, |
|
100000 |
|
Rahul Lohia |
|
3050 |
|
Iron Products ( |
|
42500 |
|
Rhino Alloys and Steels Private Limited, |
|
150000 |
|
Neeraj Khemkha |
|
330000 |
|
Denim Engineering Works Private Limited, |
|
20000 |
|
Prakhar Vyapar Private Limited, |
|
24000 |
|
Gaylord Engineering Works Private Limited, |
|
20000 |
|
Delite Fincap Services Private Limited, |
|
30000 |
|
Banshidhar Vyapar Private Limited, |
|
30000 |
|
Jaishree Comotrode Private Limited, |
|
40000 |
|
Total |
|
1569550 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
78.46 |
|
Directors
or relatives of directors |
|
21.54 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is a Retailer of Consumer Electronics Products |
|
|
|
GENERAL INFORMATION
|
Suppliers : |
·
Global Agencies ·
Samsung ( ·
Garg Associates ·
Gaur Electrical and Electronics ·
My ·
National Press ·
Samsung India Electronics Limited A/c SCB |
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Manoj Prakash Associates Chartered Accountants |
|
Address : |
A – 48, Dayanand Colony, LGF, Lajpat Nagar – IV, New Delhi – 110 024,
India |
|
Tel. No.: |
91-11-26432756 |
|
Mobile No.: |
91-9810346940 |
|
E-Mail : |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1569550 |
Equity Shares |
Rs.10/- each |
Rs.15.695
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 |
15.695 |
15.695 |
15.695 |
|
|
2] Share Application Money |
5.000 |
2.500 |
2.500 |
|
|
3] Reserves & Surplus |
11.365 |
11.244 |
10.851 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
32.060 |
29.439 |
29.046 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
11.817 |
7.770 |
12.172 |
|
|
2] Unsecured Loans |
0.761 |
0.687 |
1.263 |
|
|
TOTAL BORROWING |
12.578 |
8.457 |
13.435 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
44.638 |
37.896 |
42.481 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
12.770 |
13.082 |
13.658 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
27.362
|
27.996
|
30.857
|
|
|
Sundry Debtors |
9.703
|
3.650
|
3.758
|
|
|
Cash & Bank Balances |
2.434
|
0.630
|
0.918
|
|
|
Other Current Assets |
2.345
|
1.666
|
0.300
|
|
|
Loans & Advances |
6.947
|
7.221
|
9.960
|
|
Total
Current Assets |
48.791
|
41.163
|
45.793
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
16.478
|
15.763
|
16.090
|
|
|
|
0.000
|
0.000
|
0.000
|
|
|
Provisions |
0.445
|
0.586
|
0.880
|
|
Total
Current Liabilities |
16.923
|
16.349
|
16.970
|
|
|
Net Current Assets |
31.868
|
24.814
|
28.823
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
44.638 |
37.896 |
42.481 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
179.022 |
152.221 |
199.963 |
|
|
|
Other Income |
9.452 |
11.517 |
0.052 |
|
|
|
TOTAL (A) |
188.474 |
163.738 |
200.015 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
170.923 |
147.322 |
182.141 |
|
|
|
Indirect Expenses |
15.231 |
14.034 |
15.103 |
|
|
|
TOTAL (B) |
186.154 |
161.356 |
197.244 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2.320 |
2.382 |
2.771 |
|
|
|
|
|
|
|
|
|
Less |
INTEREST (D) |
1.550 |
1.250 |
0.891 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.771 |
1.132 |
1.880 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.629 |
0.627 |
0.473 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.142 |
0.505 |
1.407 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.021 |
0.112 |
0.301 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.121 |
0.393 |
1.106 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.08 |
0.25 |
0.70 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.06
|
0.24
|
0.55 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.08
|
0.33
|
0.70 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.23
|
0.93
|
2.37 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.02
|
0.05 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.92
|
0.84
|
1.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.88
|
2.52
|
2.70 |
LOCAL AGENCY FURTHER INFORMATION
Bankers Charges
Report as per Registry
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U51909DL2002PTC117829 |
|
Name of the
company |
ELECTROMART STORES
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
A – 48, LGF, Dayanand Colony, Lajpat Nagar, New Delhi - 110 016, India
|
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Number of charge
holder (s) |
1 |
|
Particular of
charge holder |
Bank of Baroda, SME Noida Branch, P-5, Ocean Plaza, Upper Ground
Floor, Sector 18, Noida-201301, Uttar Pradesh, India. |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
Composite
Hypothecation Agreement |
|
Date of
instrument Creating the charge |
22.08.2009 |
|
Amount secured by
the charge |
Rs. 20.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest @1.50% above BPLR
(presently BPLR is 12.00%), based on Audited Balance Sheet 31.03.2008,
subject to credit rating and change in Bank's guidelines. Terms of
Repayment Payable on
demand. Margin 25% for stocks
and book-debts. Extent and
Operation of the charge 100% Others To secure all
amounts payable under Cash Credit Limit of Rs. 20.000 millions granted to the
company together with all interests, costs, charges, expenses etc. |
|
Short particulars
of the property charged |
Hypothecation of
present and future stocks and book debts. |
|
Date of latest
modification prior to the present modification |
Nil |
|
Particulars of the
present modification |
Nil |
FIXED ASSETS:
- Air
Conditioners
- Car
- Fire and
Extinguisher
- Furniture and
Fixture
- Generator
- Equipment and
Tools
- Land and
Building
- Vehicle
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.44.65 |
|
|
1 |
Rs.71.91 |
|
Euro |
1 |
Rs.63.28 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
29 |
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.