MIRA
INFORM REPORT
|
Report Date : |
19.05.2011 |
Note : - Correct name of the company is “HILLSON FOOTWEAR
PRIVATE LIMITED”
IDENTIFICATION DETAILS
|
Name : |
HILLSON FOOTWEAR PRIVATE LIMITED |
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Registered
Office : |
70, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
07.08.2008 |
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Com. Reg. No.: |
55-181821 |
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Capital
Investment / Paid-up Capital : |
Rs.3.843 Millions |
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CIN No.: [Company Identification
No.] |
U19200DL2008PTC181821 |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Supplier of Shoes and Footwears. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 17000 |
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|
Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established 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 but correct. 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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
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 |
LOCATIONS
|
Registered Office : |
70, |
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Tel. No.: |
91-11-25436518 |
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E-Mail : |
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Factory 1 : |
Plot No. 420-421, M.I.E. Part I,
Bahadurgarh - 124507, |
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Tel. No.: |
91-1276-268085 |
DIRECTORS
As on 29.09.2010
|
Name : |
Mr. Nitin Agarwal |
|
Designation : |
Director |
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Address : |
26/53, West Punjabi Bagh, |
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Date of Appointment : |
07.08.2008 |
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DIN No. : |
02279027 |
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|
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Name : |
Mr. Sachin Agarwal |
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Designation : |
Director |
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Address : |
26/53, West Punjabi Bagh, |
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Date of Appointment : |
07.08.2008 |
|
DIN No. : |
02240793 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Nitin Agarwal |
|
96380 |
|
Sachin Agarwal |
|
63500 |
|
Nikita Agarwal |
|
15900 |
|
Nisha Agarwal |
|
1000 |
|
Rambabu Agarwal |
|
32200 |
|
Shashi Agarwal |
|
14800 |
|
|
|
1000 |
|
Ramsons Compounding ( |
|
1000 |
|
Manju Jain |
|
1000 |
|
Ranjit Sahay Jain |
|
1000 |
|
Nirmak Kumar Sukhlal Pincha |
|
1000 |
|
Suman Nirmal Pincha |
|
1000 |
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Santosh Bimal Bothra |
|
1000 |
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Bimal Kumar Jain |
|
1000 |
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Ranjana Agarwal |
|
1000 |
|
Toor Finance Company Limited ( |
|
150000 |
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Jinesh Kumar Jain |
|
100 |
|
Nem Kumar Jain and Sons (HUF) |
|
100 |
|
Rashmi Gupta |
|
100 |
|
Sanwarmal Khadria (HUF) |
|
100 |
|
Amit Mata |
|
1000 |
As on 29.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Shoes and Footwears. |
GENERAL INFORMATION
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Jinesh Manoj and Company Chartered Accountant |
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Address : |
222, Vardhaman Plaza, Plot No. 12, Road No. 44, Opp. Rani Bagh,
Pitampura, New Delhi – 110034, Delhi, India |
CAPITAL STRUCTURE
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
800000 |
Equity Shares |
Rs.10/- each |
Rs.8.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
384280 |
Equity Shares |
Rs.10/-each |
Rs.3.843
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
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|
|
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1] Share Capital |
|
3.843 |
1.810 |
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2] Share Application Money |
|
0.000 |
0.000 |
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3] Reserves & Surplus |
|
0.555 |
0.092 |
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4] (Accumulated Losses) |
|
0.000 |
0.000 |
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NETWORTH |
|
4.398 |
1.902 |
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LOAN FUNDS |
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|
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1] Secured Loans |
|
13.336 |
2.089 |
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2] Unsecured Loans |
|
8.886 |
2.367 |
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TOTAL BORROWING |
|
22.222 |
4.456 |
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DEFERRED TAX LIABILITIES |
|
0.238 |
0.161 |
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TOTAL |
|
26.858 |
6.519 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
|
19.342 |
3.024 |
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Capital work-in-progress |
|
0.000 |
0.000 |
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INVESTMENT |
|
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
|
5.270 |
0.999 |
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Sundry Debtors |
|
9.854 |
5.705 |
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Cash & Bank Balances |
|
1.131 |
0.427 |
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Other Current Assets |
|
0.183 |
0.055 |
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Loans & Advances |
|
0.772 |
3.060 |
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Total
Current Assets |
|
17.210 |
10.246 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
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|
Sundry Creditors |
|
9.006 |
6.767 |
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Other Current Liabilities |
|
0.787 |
0.116 |
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Provisions |
|
0.000 |
0.000 |
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Total
Current Liabilities |
|
9.793 |
6.883 |
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Net Current Assets |
|
7.417 |
3.363 |
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MISCELLANEOUS EXPENSES |
|
0.099 |
0.132 |
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TOTAL |
|
26.858 |
6.519 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
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GROSS TURNOVER |
|
62.877 |
25.313 |
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NET PROFIT
(after tax) |
|
0.463 |
0.092 |
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
7.28 |
5.96 |
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Current Ratio (Current Asset/Current Liability) |
|
|
1.76 |
1.49 |
LOCAL AGENCY FURTHER INFORMATION
PROFITABILITY :
The company has earned a Net Profit of Rs.0.463 Million (after tax)
during the year and the same has been transferred to Balance Sheet.
TURNOVER :
The company has achieved a Gross Turnover of Rs.62.877 Millions during
the year.
FORM 8 :
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U19200DL2008PTC181821 |
|
Name of the
company |
HILLSON FOOTWEAR PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
70, |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
Punjab National Bank, BO : |
|
Nature of description
of the instrument creating or modifying the charge |
|
|
Date of instrument
Creating the charge |
05.03.2009 |
|
Amount secured by
the charge |
Rs.15.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest
: i) Interest @ BPLR+1.50%+0.50%(Term
Premia) i.e. 13.50% per annum with monthly rests. ii) Interest
payable by the borrower shall be subject to changes/variations in interest
rates, made by Reserve Bank of India/Bank from time to time. Terms of
Repayment : Term Loan is repayable
in 24(Twenty Four) quarterly installments of Rs. 0.667 Million after a
initial moratorium period of six months. The installment to be commenced from
April, 2010. However the interest will be paid as and when debited. Margin : 25% Extent and Operation
of the charge : 100% in favour of
Punjab National Bank, Gurudwara Road, Karol Bagh, New Delhi - 110005. |
|
Short particulars
of the property charged |
i)
Hypothecation
by way of 1st Charge on existing and proposed plant and machinery. ii)
Hypothecation
of all the movable assets such as plant and machinery, Furniture and
Fixtures, Generator etc. present and future acceptable to the Bank. iii)
Hypothecation
of all present and future book debts, outstanding decrees, money receivables,
Govt. subsides, claims, bill, contracts and investment. |
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.45.08 |
|
|
1 |
Rs.73.34 |
|
Euro |
1 |
Rs.64.30 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
2 |
|
--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 |
|
27 |
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.