1. Summary Information
|
|
|
Country |
|
|
Company Name |
CHANDRA ELECTRONIC APPLIANCES PRIVATE LIMITED |
Principal Name 1 |
MR. LALIT KUMAR
DHOKA |
|
Status |
MODERATE |
Principal Name 2 |
MRS. MAMTA DHOKA |
|
|
|
Registration # |
17-11886 |
|
Street Address |
CHANDRA HOUSE,
28, INDIRA COLONY, |
||
|
Established Date |
12.04.1996 |
SIC Code |
-- |
|
Telephone# |
91-141-2203712 |
Business Style 1 |
TRADING |
|
Fax # |
91-141-2282712 |
Business Style 2 |
DEALING |
|
Homepage |
Product Name 1 |
T. V. SETS |
|
|
# of employees |
-- |
Product Name 2 |
RADIOS |
|
Paid up capital |
Rs.6,500,000/- |
Product Name 3 |
WASHING MACHINES |
|
Shareholders |
DIRECTORS
OR RELATIVES OF DIRECTORS – 100% |
Banking |
STATE BANK OF |
|
Public Limited Corp. |
NO |
Business Period |
15 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 |
41,718,000 |
Current Liabilities |
13,047,000 |
|
Inventories |
56,818,000 |
Long-term Liabilities |
70,791,000 |
|
Fixed Assets |
2,460,000 |
Other Liabilities |
913,000 |
|
Deferred Assets |
113,000 |
Total Liabilities |
84,751,000 |
|
Invest& other Assets |
000 |
Retained Earnings |
9,858,000 |
|
|
|
Net Worth |
16,358,000 |
|
Total Assets |
101,109,000 |
Total Liab. & Equity |
101,109,000 |
|
Total Assets (Previous Year) |
85,871,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
326,758,000 |
Net Profit |
1,700,000 |
|
Sales(Previous yr) |
289,356,000 |
Net Profit(Prev.yr) |
995,000 |
MIRA
INFORM REPORT
|
Report Date : |
12.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
CHANDRA ELECTRONIC APPLIANCES PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
28, Indira
Colony, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
12.04.1996 |
|
|
|
|
Com. Reg. No.: |
17-11886 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.6.500 Millions
|
|
|
|
|
CIN No.: [Company Identification
No.] |
U29308RJ1996PTC011886 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JPRC02442G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACC9574E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Trading, Dealing
and Distributing Consumer Electronics and Entertainment Products like T. V.
Sets, Radios, VCRs, Fridge, Washing Machines and other Electrical Appliances. |
|
|
|
|
No. of Employees
: |
Not Available |
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 65000 |
|
|
|
|
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 : |
28, Indira
Colony, |
|
Tel. No.: |
91-141-2203712 /
2205512 / 2282512 / 882 /138 |
|
Fax No.: |
91-141-2282712 |
|
E-mail: |
|
|
Websites : |
|
|
Area : |
Medium Size |
|
Location : |
Owned |
|
|
|
|
Administrative
Office : |
Chandra House,
20, Indira Colony, |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Lalit Kumar
Dhoka |
|
Designation : |
Managing Director
|
|
Address : |
28, Indra Colony, |
|
Date of Appointment : |
12.04.1996 |
|
|
|
|
Name : |
Mrs. Mamta Dhoka |
|
Designation : |
Director |
|
Address : |
28, Indra Colony, |
|
Date of Appointment : |
18.03.1999 |
|
|
|
|
Name : |
Mr. Ashish Dhoka |
|
Designation : |
Director |
|
Address : |
28, Indra Colony, |
|
Date of Appointment : |
15.11.2002 |
|
|
|
|
Name : |
Mr. Suresh Dhoka |
|
Designation : |
Director |
|
Address : |
28, Indra Colony, |
|
Date of Appointment : |
12.04.1996 |
|
Date of Ceasing: |
21.03.1999 |
|
|
|
|
Name |
Mr. Mahendra Kumar Dhoka |
|
Designation |
Director |
|
Address |
Subhash Marg, Falna, Pali - 306 116, |
|
Date of Appointment : |
12.04.1996 |
|
Date of Ceasing: |
21.03.1999 |
|
|
|
|
Name : |
Mr. Chhagan Lal Dhoka |
|
Designation : |
Director |
|
Address : |
Subhash Marg, Falna, Pali - 306 116, |
|
Date of Appointment : |
12.04.1996 |
|
Date of Ceasing: |
21.03.1999 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Lalit Kumar Dhoka |
|
420000 |
|
Mamta Dhoka |
|
190000 |
|
Amit Kumar Dhoka |
|
40000 |
|
|
|
|
|
Total |
|
650000 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading, Dealing and
Distributing Consumer Electronics and Entertainment Products like T. V. Sets,
Radios, VCRs, Fridge, Washing Machines and other Electrical Appliances. |
GENERAL INFORMATION
|
Bankers : |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Chittora and Company Chartered Accountants |
|
Address : |
B-D, Shyam Apartment, C-77, Sarojani Marg, C-Scheme, Jaipur - 302 001,
|
|
Tel. No.: |
91-141-2369899/
2364300 |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
650000 |
Equity Shares |
Rs.10/- each |
Rs.6.500 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
650000 |
Equity Shares |
Rs.10/- each |
Rs.6.500 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 |
6.500 |
6.500 |
6.000 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
9.858 |
8.158 |
5.163 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
16.358 |
14.658 |
11.163 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
60.027 |
60.400 |
48.468 |
|
|
2] Unsecured Loans |
10.764 |
8.951 |
14.766 |
|
|
TOTAL BORROWING |
70.791 |
69.351 |
63.234 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
87.149 |
84.009 |
74.397 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2.460 |
2.422 |
1.560 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.113 |
0.139 |
0.140 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
56.818
|
48.065 |
41.434 |
|
|
Sundry Debtors |
35.889
|
28.012 |
23.796 |
|
|
Cash & Bank Balances |
2.344
|
3.248 |
0.488 |
|
|
Other Current Assets |
0.260
|
0.000 |
0.000 |
|
|
Loans & Advances |
3.225
|
3.985 |
10.327 |
|
Total
Current Assets |
98.536
|
83.310 |
76.045 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
12.700
|
0.476 |
|
|
|
Other Current Liabilities |
0.347
|
0.674 |
3.263 |
|
|
Provisions |
0.913
|
0.712 |
0.085 |
|
Total
Current Liabilities |
13.960
|
1.862 |
3.348 |
|
|
Net Current Assets |
84.576
|
81.448 |
72.697 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
87.149 |
84.009 |
74.397 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
326.758 |
289.356 |
253.405 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
3.158 |
2.200 |
1.754 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION |
0.622 |
0.529 |
0.377 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
2.536 |
1.671 |
1.377 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.836 |
0.676 |
0.570 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
1.700 |
0.995 |
0.807 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.62 |
1.53 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Net Profit Margin (PBT/Sales) |
(%) |
0.52
|
0.58 |
0.54 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
2.51
|
1.95 |
1.77 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.15
|
0.11 |
0.12 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.18
|
4.86 |
5.96 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
7.06
|
44.74 |
22.71 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS:
In the current year
of its operations, the company has achieved a sales target of Rs. 326.758
millions in comparison to Rs. 289.356
millions during 2008-2009, considering
the market trend it is excellent.
FUTURE PROSPECTS:
The prospects for
the current year are bright; the company is trying to have more dealership of
repute company’s products. Your directors are sure this will add due increase
in sales as well as profitability.
Bankers Charges
Report as per Registry
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
90071578 |
|
Corporate
identity number of the company |
U29308RJ1996PTC011886 |
|
Name of the
company |
CHANDRA
ELECTRONIC APPLIANCES PVT LTD |
|
Address of the
registered office or of the principal place of business in |
28, Indira
Colony, |
|
Type of charge |
Book Debts Movable Property
(not being pledge) Immovable
Property |
|
Particular of
charge holder |
State Bank of |
|
Email |
|
|
Nature of
description of the instrument creating or modifying the charge |
1. Supplemental
agreement of loan for increase in the overall limit. 2. Supplemental
agreement of hypothecation of goods and assets for increase in the overall
limit. 3. Letter
regarding grant of individual limits within the overall limit. 4. Copy of Board
Resolution. |
|
Date of
instrument Creating the charge |
02.03.2011 |
|
Amount secured by
the charge |
Rs.82.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest At 3.25 % above
Base Rate i.e. 12.00%. Terms of
Repayment Repayable on
demand Margin Finished
goods 25% Book Debts 35% Extent and
Operation of the charge The charge will
operate as first charge on entire current assets of the company's, present
and future, including Raw Material,
SIP, Finished Goods, packing material and
book debts to secure the working capital limit to the extent of Rs. 82.500
Millions . Others Personal
Guarantee of 1. Lalit Dhoka 2. Smt. Mamta
Dhoka 3. Ashish Dhoka 4. Amit Dhoka 5. Lalit Kumar
Dhoka HUF |
|
Short particulars
of the property charged |
I)
First
charge on entire current assets of the company's present and future including Raw Material, SIP,
Finished Goods, Packing Material and
book debts. II)
Extension
of equitable mortgage of plot situated at Block No. 3, III)
Extension
of equitable mortgage of Chandra House situated at 28, Indra colony, IV)
Extension
of equitable mortgage of 1/2 portion of residential plot situated at Sector-7,
Keshariaji Nagar, Falna in the name of Smt. Mamta Dhoka. V)
Equitable
mortgage of property situated at Sector 5, part B, Keshriyaji Nagar, Flana
admeasuring 933.4 sq feet in the name of Smt. Mamta Dhoka. |
|
Particulars of
the present modification |
By this
modification the working capital Limit enhanced to Rs. 82.500 Millions as under: Cash
Credit(Hyp.) Rs. 82.500
Millions Sub-Limits: Against Book
Debts within CC (Rs. 30.000 Millions ) Against Clearing
within CC (Rs. 3.000 Millions )
---------------------- TOTAL LIMIT Rs. 82.500 Millions All other terms
and conditions remain same. |
FIXED ASSETS:
- Furniture and
Fixture
- Office
Equipment
- Computers
- Vehicles
- Cycle
Trolly
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.44.69 |
|
|
1 |
Rs.73.12 |
|
Euro |
1 |
Rs.64.39 |
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.