1. Summary Information
|
|
|
Country |
|
|
Company Name |
NULUX TOOLS
LIMITED |
Principal Name 1 |
Mr. Dinesh Krishanlal Puri |
|
Status |
Moderate |
Principal Name 2 |
Mr. Prabha Krishanlal Puri |
|
|
|
Registration # |
11-115962 |
|
Street Address |
5, Beach Queen,
33, |
||
|
Established Date |
24.07.1998 |
SIC Code |
-- |
|
Telephone# |
91-22-26364304 /
26361589 |
Business Style 1 |
Manufacturer |
|
Fax # |
91-22-26364313 |
Business Style 2 |
Trader |
|
Homepage |
Product Name 1 |
Engineering Tools |
|
|
# of employees |
-- |
Product Name 2 |
-- |
|
Paid up capital |
Rs.19,950,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives
of Directors - 99.98% Other top fifty shareholders -
0.02% |
Banking |
-- |
|
Public Limited Corp. |
NO |
Business Period |
13 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
B
(28) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
Subsidiary |
|
Krishan Nigeria Limited |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
8,838,000 |
Current Liabilities |
33,697,000 |
|
Inventories |
8,458,000 |
Long-term Liabilities |
6,316,000 |
|
Fixed Assets |
20,283,000 |
Other Liabilities |
0 |
|
Deferred Assets |
1,300,000 |
Total Liabilities |
40,013,000 |
|
Invest& other Assets |
3,696,000 |
Retained Earnings |
2,289,000 |
|
|
|
Net Worth |
2,562,000 |
|
Total Assets |
42,575,000 |
Total Liab. & Equity |
42,575,000 |
|
Total Assets (Previous Year) |
40,967,000 |
|
|
|
P/L Statement as of |
31.03.2010 |
(Unit: Indian Rs.) |
|
|
Sales |
22,300,000 |
Net Profit |
1,004,000 |
|
Sales(Previous yr) |
14,677,000 |
Net Profit(Prev.yr) |
433,000 |
MIRA
INFORM REPORT
|
Report Date : |
30.05.2011 |
Note : Correct name of the company is “NULUX TOOLS
LIMITED”
IDENTIFICATION DETAILS
|
Name : |
NULUX TOOLS LIMITED |
|
|
|
|
Registered
Office : |
5, Beach Queen, 33, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
24.07.1998 |
|
|
|
|
Com. Reg. No.: |
11-115962 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.19.950 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29200MH1998PLC115962 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMN06478D / MUMN11593B |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACN9342F |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Trader of Engineering Tools. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 10000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. There appears
huge accumulated losses recorded by the company. However, trade relations are
reported as fair. Business is active. Payments are reported to be slow. 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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
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 : |
5, Beach Queen, 33, |
|
Tel. No.: |
91-22-26364304 / 26361589 |
|
Fax No.: |
91-22-26364313 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Factory 1 : |
57-D, Noida Special Economic Zone, Noida – 201305, |
|
|
|
|
Factory 2 : |
80 Ft., Road, Opposite Kamdar Vima hospital, |
DIRECTORS
As on 27.09.2010
|
Name : |
Mr. Dinesh Krishanlal Puri |
|
Designation : |
Director |
|
Address : |
Flat No. 101, Quarter Deck, 43A, |
|
Date of Birth/Age : |
03.11.1962 |
|
Date of Appointment : |
01.10.2002 |
|
DIN No. : |
00208392 |
|
|
|
|
Name : |
Mr. Prabha Krishanlal Puri |
|
Designation : |
Director |
|
Address : |
Flat No. 101, Quarter Deck, 43A, |
|
Date of Birth/Age : |
05.05.1938 |
|
Date of Appointment : |
24.07.1998 |
|
DIN No. : |
00208420 |
|
|
|
|
Name : |
Mrs. Vimmi Dinesh Puri |
|
Designation : |
Director |
|
Address : |
Flat No. 101, Quarter Deck, 43A, |
|
Date of Birth/Age : |
05.02.1968 |
|
Date of Appointment : |
24.07.1998 |
|
DIN No. : |
00208429 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Dinesh Krishanlal Puri |
|
1901600 |
|
Anilkumar Chopra |
|
100 |
|
Vimmi Dinesh Puri |
|
27000 |
|
Madanlal Vadhera |
|
100 |
|
Sanjay Wadhera |
|
100 |
|
Anjana Anilkumar Chopra |
|
100 |
|
Prabha Krishanlal Puri Jointly Dinesh Krishanlal Puri |
|
66000 |
|
Total |
|
1995000 |
As on 27.09.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
99.98 |
|
Other top fifty shareholders |
0.02 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Trader of Engineering Tools. |
GENERAL INFORMATION
|
Bankers : |
Not Available |
|||||||||||||||||||||
|
|
|
|||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Aditya and Associates (Manish Chaudhry) Chartered Accountant |
|
Address : |
122, Mandakini Enclave, Alaknanda, |
|
Tel. No.: |
91-11-26274956 |
|
|
|
|
Associates/Subsidiaries : |
|
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1995000 |
Equity Shares |
Rs.10/-each |
Rs.19.950 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 |
19.950 |
19.950 |
19.950 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2.289 |
2.754 |
3.219 |
|
|
4] (Accumulated Losses) |
(19.677) |
(20.681) |
(21.114) |
|
|
NETWORTH |
2.562 |
2.023 |
2.055 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
3.994 |
3.934 |
3.961 |
|
|
2] Unsecured Loans |
2.322 |
2.322 |
2.322 |
|
|
TOTAL BORROWING |
6.316 |
6.256 |
6.283 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
8.878 |
8.279 |
8.338 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
20.283 |
22.257 |
24.234 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
3.642 |
3.642 |
3.642 |
|
|
DEFERREX TAX ASSETS |
1.300 |
0.943 |
0.604 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
8.458
|
11.551 |
11.665 |
|
|
Sundry Debtors |
6.814
|
0.051 |
8.388 |
|
|
Cash & Bank Balances |
0.586
|
0.308 |
0.226 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
1.438
|
2.138 |
1.179 |
|
Total
Current Assets |
17.296
|
14.048 |
21.458 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
20.939
|
19.733 |
27.260 |
|
|
Other Current Liabilities |
12.679
|
12.853 |
14.346 |
|
|
Provisions |
0.079
|
0.102 |
0.104 |
|
Total
Current Liabilities |
33.697
|
32.688 |
41.710 |
|
|
Net Current Assets |
(16.401)
|
(18.639) |
(20.252) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.054 |
0.076 |
0.110 |
|
|
|
|
|
|
|
|
TOTAL |
8.878 |
8.279 |
8.338 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
22.300 |
14.677 |
28.111 |
|
|
|
Other Income |
2.267 |
1.827 |
1.939 |
|
|
|
TOTAL (A) |
24.567 |
16.504 |
30.050 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption of material and components |
0.685 |
1.261 |
2.771 |
|
|
|
Cost of merchandising goods |
14.934 |
8.949 |
17.493 |
|
|
|
Personnel Cost |
0.400 |
0.581 |
1.649 |
|
|
|
Direct Expenses |
1.358 |
0.829 |
3.200 |
|
|
|
Selling, General and administrative expenses |
1.844 |
2.823 |
2.488 |
|
|
|
Deferred revenue expenditure written off |
0.019 |
0.028 |
0.042 |
|
|
|
Preliminary expenses written off |
0.004 |
0.005 |
0.006 |
|
|
|
Increase / (Decrease) in Stock |
2.817 |
(0.016) |
0.207 |
|
|
|
TOTAL (B) |
22.061 |
14.460 |
27.856 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2.506 |
2.044 |
2.194 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.362 |
0.434 |
0.600 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.144 |
1.610 |
1.594 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.495 |
1.511 |
1.528 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.649 |
0.099 |
0.066 |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
(0.355) |
(0.334) |
(0.305) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-I) (J) |
1.004 |
0.433 |
0.371 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(20.681) |
(21.114) |
(21.486) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(19.677) |
(20.681) |
(21.115) |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
20.296 |
13.642 |
19.527 |
|
|
|
Dividends Earnings |
2.266 |
1.296 |
1.509 |
|
|
TOTAL EARNINGS |
22.562 |
14.938 |
21.036 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.50 |
0.22 |
0.19 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.09
|
2.62 |
1.23 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
2.91
|
0.67 |
0.23 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.73
|
0.27 |
0.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.25
|
0.05 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
15.62
|
19.25 |
23.35 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.51
|
0.43 |
0.51 |
LOCAL AGENCY FURTHER INFORMATION
FUTURE OUTLOOK
The company has shown improved performance in the current year and hopes
to perform better in the next year and new product mix coupled with
merchandising activity shall yield better.
FIXED ASSETS
- Plant and
Machinery
- Electrical
Installations
- Furniture and
Fixtures
- Vehicles
- Office
Equipments
- Computers
- Tooling
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.45.21 |
|
|
1 |
Rs.74.30 |
|
Euro |
1 |
Rs.64.40 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
2 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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.