MIRA
INFORM REPORT
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Report Date : |
13.05.2011 |
IDENTIFICATION DETAILS
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Name : |
VISION DISPLAY PRIVATE LIMITED |
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Registered Office : |
Plot No. 97, Singh Estate, Road No. 1, Opposite Thakur Vllage,
Kandivali (E), Mumbai – 400101, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of Incorporation : |
16.06.2009 |
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Com. Reg. No.: |
193359 |
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Capital
Investment / Paid-up Capital : |
Rs. 0.100
million |
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CIN No.: [Company
Identification No.] |
U74990MH2009PTC193359 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMV17562G |
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PAN No.: [Permanent
Account No.] |
AADCV0227G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer of Super Market Rack, Garment Rack, Display Materials,
Trolley and Basket. |
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No. of Employees : |
42 Approximately |
RATING & COMMENTS
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MIRA’s Rating : |
B (26) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 20980 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a company having moderate track. Profitability of the company
appears to be low. However, trade relations are fair. Business is active.
Payments are reported to be slow. The company can be considered for business dealings with some
cautions. |
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 |
INFORMATION PARTED BY
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Name : |
Ms. Aarti |
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Designation : |
Accountant |
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Contact No.: |
91-22-28867612 |
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Date : |
11.05.2011 |
LOCATIONS
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Registered Office / Factory : |
Plot No. 97, Singh Estate, Road No. 1, Opp. Thakur Vllage, Kandivali
(E), Mumbai – 400101, |
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Tel. No.: |
91-22-32032600 / 32032700 / 32068788 |
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Fax No.: |
91-22-28867612 |
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E-Mail : |
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Location : |
Owned |
DIRECTORS
AS ON 30.09.2010
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Name : |
Mr. Hemant K. Chapaneri |
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Designation : |
Managing Director |
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Address : |
A – 605, Oberoi Park View, Thakur Village, Kandivali E, Mumbai –
400101, Maharashtra, India |
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Date of Birth/Age : |
01.05.1963 |
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Qualification : |
Graduate |
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Experience : |
10 Years |
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Date of Appointment : |
16.06.2009 |
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Name : |
Mrs. Renuka H Chapaneri |
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Designation : |
Director |
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Address : |
A – 605, Oberoi Park View, Thakur Village, Kandivali E, Mumbai –
400101, Maharashtra, India |
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Date of Birth/Age : |
22.08.1974 |
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Date of Appointment : |
16.06.2009 |
KEY EXECUTIVES
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Name : |
Ms. Suja Nair |
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Designation : |
Key Executive |
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Name : |
Ms. Aarti |
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Designation : |
Accountant |
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Name : |
Mr. Pravin |
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Designation : |
Supervisor |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 16.09.2009
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Names of Shareholders |
No. of Shares |
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Mr. Hemant K. Chapaneri |
5000 |
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Mrs. Renuka H Chapaneri |
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
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Super Market Rack, Garment Rack, Display Materials,
Trolley and Basket. |
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Brand Names : |
“VISION” |
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Terms : |
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Selling : |
Cash, Credit |
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Purchasing : |
Cash, Credit |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
42 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 : |
Milind Vaman Agarkar Chartered Accountant |
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Address: |
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Associates/Subsidiaries : |
Nil |
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 |
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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 |
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Share Application Money from Director |
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Rs. 4.772
millions |
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Rs. 4.872 millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2010 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
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2] Share Application Money |
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4.772 |
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3] Reserves & Surplus |
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0.373 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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5.245 |
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LOAN FUNDS |
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1] Secured Loans |
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2.908 |
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2] Unsecured Loans |
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0.010 |
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TOTAL BORROWING |
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2.918 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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8.163 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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3.631 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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1.779 |
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Sundry Debtors |
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4.109 |
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Cash & Bank Balances |
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1.251 |
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Other Current Assets |
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0.290 |
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Loans & Advances |
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0.151 |
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Total
Current Assets |
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7.580 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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2.656 |
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Other Current Liabilities |
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0.291 |
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Provisions |
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0.231 |
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Total
Current Liabilities |
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3.178 |
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Net Current Assets |
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4.402 |
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MISCELLANEOUS EXPENSES |
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0.130 |
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TOTAL |
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8.163 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2010 |
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SALES |
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Sales |
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7.976 |
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Other Income |
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0.000 |
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TOTAL |
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7.976 |
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Less |
EXPENSES |
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Selling and Distribution Expenses |
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Office Expenses |
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6.481 |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
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6.481 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION |
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1.495 |
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Less |
FINANCIAL
EXPENSES |
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0.707 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
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0.788 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
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0.406 |
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PROFIT FOR THE
YEAR |
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0.382 |
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Earnings Per
Share (Rs.) |
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-- |
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KEY RATIOS
|
PARTICULARS |
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|
31.03.2010 |
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PAT / Total Income |
(%) |
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NA |
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Net Profit Margin (PBT/Sales) |
(%) |
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NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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NA |
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Return on Investment (ROI) (PBT/Networth) |
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NA |
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Debt Equity Ratio (Total Liability/Networth) |
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1.16 |
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Current Ratio (Current Asset/Current Liability) |
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2.38 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS
In the first year of operation we have concerted
on manufacturing super marketing racks and other display racks and it is in
highly demand. There is good demand for their product in the market and they
are planning to increase capacity of production by 50% and more in coming
Financial year. They have also imported few products which are in demand by
their existing client and sold to their esteem client. In future they also
focus to import more row products or ready from china and other country and
increase trading manufacturing both. In the next coming year they will try to
increase their sale by 100% or more than and they will introduced new product
too.
CHANGE OF ADDRESS:
The Registered Address of the company has been shifted from A – 605,
Oberoi Park View, Thakur Village, Kandivali E, Mumbai – 400101, Maharashtra,
India to the present address i.e. Plot No. 97, Singh Estate, Road No. 1, Opp.
Thakur Vllage, Kandivali (E), Mumbai – 400101, Maharashtra, India w.e.f
01.07.2009.
FIXED ASSETS:
- Computer
- Furniture
- Machinery
- Office
Equipment
- Plant and
Machinery
FORM 8:
|
Corporate
identity number of the company |
U74990MH2009PTC193359 |
|
Name of the
company |
VISION DISPLAY PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Plot No. 97, Singh Estate, Road No. 1, |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book Debts Movable Property Floating Charge |
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Particular of
charge holder |
ING Vysya Bank Limited, Shop No. 3, 4 and 5, Abhilasha 2, Punjabi
Lane, Borivali (W), Mumbai - 400092, Maharashtra, India |
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Nature of
instrument creating charge |
General
Hypothecation Agreement |
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Date of
instrument Creating the charge |
07.11.2009 |
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Amount secured by
the charge |
Rs. 6.000
Millions |
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Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest Cash Credit –
IVRR – 3.25% Term Loan - IVRR
– 3.25% Terms of
Repayment Cash Credit – On
Demand Term Loan –
Repayable on 36 monthly installments Margin Cash Credit – 25%
on stocks and book debts Term Loan – Nil Extent and
Operation of the charge 1st
charge on stock both present and future 1st charge
on plant and machineries and equipments purchase out of Term Loan 1st
charge on book debts both present and future |
|
Short particulars
of the property charged |
All the stocks
both present and future and plant and machineries purchases out of term loan
at Gala ˝, Tirupati Industrial estate, No. 1, Narghar, Vasai (E), Thane –
401210 All book debts
both present and future |
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.44.79 |
|
|
1 |
Rs.73.19 |
|
Euro |
1 |
Rs.63.59 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
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--BANK CHARGES |
YES/NO |
YES |
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--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 |
NO |
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--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
26 |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.