%20EXPORTS%20PRIVATE%20LIMITED-136124%2018-Mar-2011_files/image002.jpg){kind=small}
BUSINESS INFORMATION REPORT
1. Summary Information
|
|
|
Country |
|
|
Company Name |
EQUI PLUS ( |
Principal Name 1 |
Mr. Upendra Kumar Singh |
|
Status |
Moderate |
Principal Name 2 |
Mr. Kashi Nath Singh |
|
|
|
Registration # |
20-35424 |
|
Street Address |
C – 40, Panki Industrial Area, Site – 1, |
||
|
Established Date |
13.06.2008 |
SIC Code |
-- |
|
Telephone# |
91-512-2692180 / 81 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-512-2692280 |
Business Style 2 |
Trader |
|
Homepage |
- |
Product Name 1 |
Breaches |
|
# of employees |
- |
Product Name 2 |
Half Chaps |
|
Paid up capital |
Rs.37,500,000/- |
Product Name 3 |
Sleeping Bag |
|
Shareholders |
Directors or
relatives of Directors -100 % |
Banking |
State Bank of |
|
Public Limited Corp. |
NO |
Business Period |
2 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
B (31) |
|
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 |
36,001,000 |
Current Liabilities |
39,171,000 |
|
Inventories |
68,996,000 |
Long-term Liabilities |
64,866,000
|
|
Fixed Assets |
60,157,000 |
Other Liabilities |
2,743,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
106,780,000 |
|
Invest& other Assets |
2,961,000 |
Retained Earnings |
23,835,000 |
|
|
|
Net Worth |
61,335,000 |
|
Total Assets |
168,115,000 |
Total Liab. & Equity |
168,115,000 |
|
Total Assets (Previous Year) |
147,591,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
177,277,000 |
Net Profit |
17,413,000 |
|
Sales(Previous yr) |
778,362,000 |
Net Profit(Prev.yr) |
6,421,000 |
MIRA
INFORM REPORT
|
Report Date : |
18.03.2011 |
|
|
|
|
Tel. No.: |
91-512-2692289 |
|
Fax No.: |
91-512-2692280 |
IDENTIFICATION DETAILS
|
Name : |
EQUI PLUS ( |
|
|
|
|
Registered
Office : |
C – 40, Panki Industrial Area, Site – 1, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
13.06.2008 |
|
|
|
|
Com. Reg. No.: |
20-35424 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74900UP2008PTC035424 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
To carry on business of manufacturer, trade, export and import or
otherwise dealing in equestrian goods and other textile goods, garments, aprons,
harness, rugs, halters, caps, gloves, etc and other related products
whatsoever. |
RATING & COMMENTS
|
MIRA’s Rating : |
B (31) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 250000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a company having moderate track. The company is progressing
well. The company is progressing well, 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 : |
C – 40, Panki Industrial Area, Site – 1, |
|
Tel. No.: |
91-512-2692180 / 81 |
|
Fax No.: |
91-512-2692280 |
|
E-Mail : |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Upendra Kumar Singh |
|
Designation : |
Director |
|
Address : |
C – 21, Pankl Industrial Area, Site – 1, |
|
Date of Birth/Age : |
12.10.1970 |
|
Date of Appointment : |
13.06.2008 |
|
|
|
|
Name : |
Mr. Kashi Nath Singh |
|
Designation : |
Director |
|
Address : |
1203, Ratan Lal Nagar, |
|
Date of Birth/Age : |
01.12.1947 |
|
Date of Appointment : |
13.06.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Upendra Kumar Singh |
|
3400000 |
|
Kashi Nath Singh |
|
350000 |
|
|
|
|
|
Total |
|
3750000 |
As on 30.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
To carry on business of manufacturer, trade, export and import or
otherwise dealing in equestrian goods and other textile goods, garments,
aprons, harness, rugs, halters, caps, gloves, etc and other related products
whatsoever. |
|
Purchasing : |
|
PRODUCTION STATUS AS ON (As on 31.03.2010)
|
Particulars |
Unit |
Installed
Capacity |
Actual
Production |
|
Sleeping Bag |
PCS |
15.00 Lacs |
3.9 Lacs |
|
Half Chaps |
PCS |
4.00 Lacs |
0.5 Lacs |
|
Breaches |
PCS |
3.00 Lacs |
0.42 Lacs |
GENERAL INFORMATION
|
Suppliers : |
·
A. Enterprises ·
Ajay Products ·
Global Knits ·
JCT Limited ·
Lari Traders ·
New Empire International ·
Sethi Textiles ·
Shakchhi Print Line ·
Diamond Hosiery ·
Global Knits ·
United Synthetics ·
Spark Fibres ·
Shanty Enterprises ·
Swta Enterprises |
|
|
|
|
Bankers : |
State Bank of |
|
|
|
|
Banking
Relations : |
- |
|
|
|
|
Auditors : |
|
|
Name : |
Anil Saxena and Associates Chartered Accountants |
|
Address : |
Bhramnagar Chauraha, Kanpur-208 005, |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
4000000 |
Equity Shares |
Rs.10/- each |
Rs.40.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
3750000 |
Equity Shares |
Rs.10/- each |
Rs.37.500 Millions |
FINANCIAL DATA
[all figures are in
Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
37.500 |
37.500 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
23.835 |
6.421 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
61.335 |
43.921 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
52.516 |
50.301 |
|
|
2] Unsecured Loans |
|
12.350 |
11.035 |
|
|
TOTAL BORROWING |
|
64.866 |
61.336 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
126.201 |
105.257 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
60.157 |
64.747 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
2.961 |
1.835 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
68.996 |
54.671 |
|
|
Sundry Debtors |
|
34.801 |
24.130 |
|
|
Cash & Bank Balances |
|
0.073 |
0.079 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
1.127 |
2.129 |
|
Total
Current Assets |
|
104.997 |
81.009 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
39.171 |
39.757 |
|
|
Other Current Liabilities |
|
0.000 |
0.000 |
|
|
Provisions |
|
2.743 |
2.577 |
|
Total
Current Liabilities |
|
41.914 |
42.334 |
|
|
Net Current Assets |
|
63.083 |
38.675 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
126.201 |
105.257 |
|
PROFIT & LOSS ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
TOTAL (A) |
|
177.277 |
778.362 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL (B) |
|
147.049 |
764.624 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
30.228 |
13.738 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
5.533 |
3.578 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
24.695 |
10.160 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
6.825 |
3.503 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
|
17.870 |
6.657 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
|
0.457 |
0.236 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
|
17.413 |
6.421 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
4.64 |
1.78 |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
|
9.82 |
0.82 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
10.82 |
4.57 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.28 |
0.15 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
1.74 |
2.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
2.51 |
1.91 |
LOCAL AGENCY FURTHER INFORMATION
Working:
This year was an inspiring for the company, as it recorded excellent performance
on all major financial parameters, right from its early years of commencement
of business.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U74900UP2008PTC035424 |
|
Name of the
company |
EQUI PLUS ( |
|
Address of the
registered office or of the principal place of business in |
C – 40, Panki Industrial Area, Site – 1, |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10132922 |
|
Type of charge |
Book Debts Movable Property Floating Charge Immovable
property |
|
Particular of
charge holder |
State Bank of |
|
Nature of
description of the instrument creating or modifying the charge |
(i) Supplemental
Agreement of Loan Cum Hypothecation (SME-4)
(ii) Agreement cum Indemnity
(iii) Memorandum fore recording
extension of mortgage by deposit of title deeds (SME-7) |
|
Date of
instrument Creating the charge |
27.12.2010 |
|
Amount secured by
the charge |
Rs.96.250
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest CC-@1.50% margin
over Base Rate, Present effective rate 9.10% p. a. TL-II,III,IV @7%
over Base Rate, Present effective rate 14.60% p. a. TL-V@ 7.25% over
Base Rate, Present effective rate 14.85% p.a. Terms of
Repayment (i)Working Capital-Repayable
on demand (ii)Term Loan
-II,III and IV shall be repayable as per existing repayment schedule. (iii)Term Loan-V
of Rs.75.00 Millions shall be repayable 10 quarterly installments of Rs.7.50
each commencing from 01.07.2011. Margin 25% on Raw Material-Imported/Indigenous 50% on Semi
Finished Goods 25% on Finished
Goods 100% on
Components/Consumables/Spares 20% on FBP (Open
delivery) 20% on LC Extent and
Operation of the charge The Co's movable
and immovable properties as mentioned in column 15 are hypothecated and
mortgaged to secure following credit facilities agg.to Rs.96.250 millions
granted by Bank to the Borrower:- 1.EPC* Rs.30.000 Millions 2.FBP* Rs.15.000 Millions 2.TL-II(o/s) Rs.5.250 Millions 3.TL-III(o/s)
Rs.4.000 Millions 4.TL-IV(o/s)
Rs.7.000 Millions 5.TL-V(new)Rs.
7.500 Millions 6.SLC Rs. 7.500 Millions 7.LC Rs.20.000 Millions TOTAL Rs.96.250 Millions *Both way
interchangeability of Rs.10.000 Millions between EPC and FBP Others |
|
Short particulars
of the property charged |
Hypo of all
present and future stocks of raw materials, stocks in process, finished
goods, goods covered under LC, stores,
spares, vehicles and all other movable assets of the Borrower. Hypo. of all the
Borrower's present and future book debts, receivables, documents of title to
goods, outstanding monies, bills,
invoices, documents, contracts, guarantee, engagement, investments and
rights. Hypo. of all the Borrower's
present and future machinery and fixed assets belonging to or in the
possession or under control of the Borrower wherever lying, stored, kept or
in transit. Equitable
mortgage of immovable properties being land and building situated at Plot No.C-40,
Panki Industrial Area, Site No. I, |
|
Date of latest
modification prior to the present modification |
05.06.2010 |
|
Particulars of
the present modification |
The aggregate
amount of various credit facilities granted by the Bank has now been enhanced
from Rs.86.750 millions to Rs.96.250 millions. Therefore, total amount of
charge secured against hypothecation of entire current assets, fixed assets,
stocks, book debt, plant and machinery etc. and equitable mortgage of
immovable properties as per details mentioned in column No.15 above has now
been enhanced from Rs.86.750 millions to Rs.96.250 millions. |
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.45.24 |
|
|
1 |
Rs.72.56 |
|
Euro |
1 |
Rs.63.00 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
4 |
|
--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 |
|
31 |
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.