MIRA
INFORM REPORT
|
Report Date : |
03.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
AGARWAL AND ASSOCIATES IMPEX PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
C-8, Sector 26, Noida – 201301, Uttar Pradesh |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
06.04.2005 |
|
|
|
|
Com. Reg. No.: |
20-29763 |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51393UP2005PTC029763 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
KNPA01994G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAFCA1728H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Trader and Distributor of Plywood and Chemicals. |
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 70000 |
|
|
|
|
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 business dealings with some caution. |
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-8, Sector 26, Noida – 201301, |
|
Tel. No.: |
91-120-4267734 |
|
Fax No.: |
91-120-4267736 |
|
E-Mail : |
|
|
|
|
|
Factory : |
Plot Number E36 and E37, Site B UPSIDC Industrial Area, Surajpur,
Greater Noida – 201306, |
DIRECTORS
As on 25.10.2010
|
Name : |
Mr. Ankur Agarwal |
|
Designation : |
Director |
|
Address : |
C-8, Sector 26, Noida – 201301, |
|
Date of Birth/Age : |
20.02.1970 |
|
Date of Appointment : |
06.04.2005 |
|
DIN No. : |
00015851 |
|
|
|
|
Name : |
Ms. Shalini Gupta |
|
Designation : |
Director |
|
Address : |
110/30, Nehru Nagar, |
|
Date of Birth/Age : |
21.09.1973 |
|
Date of Appointment : |
06.04.2005 |
|
DIN no. : |
01378431 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 25.10.2010
|
Names of Shareholders |
|
No. of Shares |
|
Ankur Agarwal |
|
549900 |
|
Shalini Gupta |
|
150000 |
|
Sudhir Kumar Agarwal |
|
100 |
|
Ankur Agarwal HUF |
|
300000 |
|
Total |
|
1000000 |
As on 25.10.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Trader and Distributor of Plywood and Chemicals. |
GENERAL INFORMATION
|
Suppliers : |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Customers : |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
G.R. Bansal and Company Chartered Accountant |
|
Address : |
2941/3, 1st Floor, Chuna Mandi, Paharganj, |
|
Tel. No.: |
91-11-23589350 / 23583279 |
CAPITAL STRUCTURE
As on 25.10.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000
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 |
10.000 |
10.000 |
10.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
7.614 |
4.811 |
2.625 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
17.614 |
14.811 |
12.625 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
65.151 |
11.725 |
16.832 |
|
|
2] Unsecured Loans |
30.014 |
24.865 |
7.071 |
|
|
TOTAL BORROWING |
95.165 |
36.590 |
23.903 |
|
|
DEFERRED TAX LIABILITIES |
0.551 |
0.043 |
0.001 |
|
|
|
|
|
|
|
|
TOTAL |
113.330 |
51.444 |
36.529 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
42.915 |
3.444 |
1.438 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
7.698 |
7.698 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
63.870
|
35.775 |
21.248 |
|
|
Sundry Debtors |
55.100
|
35.797 |
46.819 |
|
|
Cash & Bank Balances |
22.386
|
17.489 |
0.147 |
|
|
Other Current Assets |
10.155
|
5.254 |
0.000 |
|
|
Loans & Advances |
13.986
|
15.039 |
41.929 |
|
Total
Current Assets |
165.497
|
109.354 |
110.143 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
81.729
|
61.702 |
32.204 |
|
|
Other Current Liabilities |
13.961
|
4.219 |
41.917 |
|
|
Provisions |
7.174
|
3.235 |
1.054 |
|
Total
Current Liabilities |
102.864
|
69.156 |
75.175 |
|
|
Net Current Assets |
62.633
|
40.198 |
34.968 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.084 |
0.104 |
0.123 |
|
|
|
|
|
|
|
|
TOTAL |
113.330 |
51.444 |
36.529 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
|
|
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
298.655 |
324.237 |
300.477 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
320.759 |
297.624 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
3.478 |
2.853 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
1.292 |
1.055 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX |
NA |
2.186 |
1.798 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
2.625 |
0.827 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2.802 |
4.811 |
2.625 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
-- |
2.19 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
--
|
0.67 |
0.60 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
--
|
3.08 |
2.56 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
--
|
0.23 |
0.22 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
11.24
|
7.14 |
7.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.61
|
1.58 |
1.46 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULT :
During the year, the working of the company was remain
Satisfactory. The company achieved a turnover of Rs.2 98.655 Millions as against
turnover of Rs. 324.236 Millions in the previous year. After meeting various
Financial and Admin. Charges a Net Profit of Rs. 2.802 Millions was arrived
which has been transferred to Reserve and
Surplus a/c. The company hopes of better resulting in current year.
CHANGE OF ADDRESS
:
Registered office of the company has been shifted from 110/30, Nehru
Nagar,
FORM 8 :
|
Corporate
identity number of the company |
U51393UP2005PTC029763 |
|
Name of the
company |
AGARWAL AND ASSOCIATES IMPEX PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
C-8, Sector 26, Noida – 201301, |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
80034835 |
|
Type of charge |
Book debts Movable property Floating charge Others |
|
Particular of
charge holder |
Punjab National Bank, Gumti No. 5, Sohan Singh Market, 1st
Floor, Nasimabad, Kanpur – 208012, Uttar Pradesh, India |
|
Nature of
instrument creating charge |
Deed of
Hypothecation of Goods and Book debts to secure a Cash credit facility dated 12.03.2011
to enhance cash credit facility from Rs.60.000 Millions to Rs.67.000
Millions. as per detail as under: CC STOCK 67.0000
Millions CC BOOK DEBTS
7.000 Millions (WITHIN CC LIMIT OF 67.000 Millions) |
|
Date of
instrument Creating the charge |
12.03.2011 |
|
Amount secured by
the charge |
Rs.177.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest
: Cash Credit and
Term Loan : BPLR+1% Terms of
repayment : Cash Credit : on
demand Margin : Cash Credit and
Term Loan : 25% Bank Guarantee :
10% Book Debts : 35% Extent and
operation of the charge : First charge on
entire current assets, present and future including entire stocks, book
debts, loan and advances etc. First charge on block assets of the company by
way of hypothecation of machinery and equipment and other fixed assets and
equitable mortgage of land and building. Others : DP to be allowed
only against stocks and Book Debts. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
|
|
Date of
instrument modifying the charge |
20.11.2009 |
|
Particulars of
the present modification |
Enhance cash
credit facility from Rs.60.000 Millions to Rs.67.000 Millions. as per detail
as under: CC STOCK 67.000
Millions CC BOOK DEBTS
7.000 Millions (WITHIN CC LIMIT OF 67.000 Millions) |
FIXED ASSETS :
- Land
- Flat
- Building
- Two Wheeler
- Car
- Computers
- Plant and Machinery
- Electric Fitting
- Furniture and Fixture
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.44.30 |
|
|
1 |
Rs.73.89 |
|
Euro |
1 |
Rs.65.57 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--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.