MIRA
INFORM REPORT
|
Report Date : |
31.05.2011 |
Note:
“CRAFT HOUSE” is brand name of the company.
Correct name of the company is “URBAN LIFESTYLE LIMITED”.
IDENTIFICATION DETAILS
|
Name : |
URBAN LIFESTYLE LIMITED |
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|
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Formerly Known
As : |
VEE TECH SOFTWARE PRIVATE LIMITED |
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Registered
Office : |
Metropolitan Hotel New Delhi, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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|
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Date of Incorporation
: |
21.02.2000 |
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Com. Reg. No.: |
55-103861 |
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Capital
Investment / Paid-up Capital : |
Rs.0.500
million |
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|
|
CIN No.: [Company Identification
No.] |
U74899DL2000PLC103861 |
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|
|
TIN No.: |
07340342695 |
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Legal Form : |
A Closely Held Public Limited Liability Company |
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Line of Business
: |
Dealers in Handicrafts and Other Items. |
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No. of Employees
: |
25 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 23000 |
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|
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|
Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to be
usually correct and as per commitments. The company can be considered normal for 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 |
INFORMATION PARTED BY
|
Name : |
Mr. Kishor |
|
Designation : |
Manager |
|
Contact No.: |
91-11-42500200 |
|
Date : |
27.05.2011 |
LOCATIONS
|
Registered Office : |
Metropolitan Hotel New Delhi, |
|
Tel. No.: |
91-11-41515250, 42500200 |
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Fax No.: |
91-11-41515255 |
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E-Mail : |
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Website : |
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|
Retail Store : |
Retail Store Level 1, A 7, Geetanjali, 1st Floor, Press
Enclave, |
|
Tel. No.: |
91-11-41515250, 42500200 |
|
Fax No.: |
91-11-41515255 |
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E-Mail : |
|
|
Location : |
Owned |
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|
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|
Branch Office : |
Sakura, First Floor, |
|
Tel. No.: |
91-124-4200952 |
DIRECTORS
As on 27.09.2010
|
Name : |
Mr. Satya Pal Gupta |
|
Designation : |
Director |
|
Address : |
K - 115, Hauz Khas, |
|
Date of Birth/Age : |
16.04.1936 |
|
Date of Appointment : |
21.02.2000 |
|
DIN No.: |
00204504 |
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|
|
|
Name : |
Mr. Vipul Gupta |
|
Designation : |
Director |
|
Address : |
K - 115, Hauz Khas, |
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Date of Birth/Age : |
27.12.1968 |
|
Date of Appointment : |
21.02.2000 |
|
DIN No.: |
00204638 |
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|
|
|
Name : |
Mr. Kaveen Gupta |
|
Designation : |
Director |
|
Address : |
K - 115, Hauz Khas, |
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Date of Birth/Age : |
26.05.1965 |
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Date of Appointment : |
21.02.2000 |
|
DIN No.: |
00204605 |
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|
|
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Name : |
Mrs. Monisha Vipul Gupta |
|
Designation : |
Director |
|
Address : |
K - 115, Hauz Khas, |
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Date of Birth/Age : |
07.06.1970 |
|
Date of Appointment : |
19.08.2003 |
|
Date of Ceasing : |
11.05.2009 |
|
DIN No.: |
00240923 |
|
|
|
|
Name : |
Mrs. Babita Kaveen Gupta |
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Designation : |
Director |
|
Address : |
K - 115, Hauz Khas, |
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Date of Birth/Age : |
07.07.1967 |
|
Date of Appointment : |
19.08.2003 |
|
Date of Ceasing : |
11.05.2009 |
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DIN No.: |
00240978 |
KEY EXECUTIVES
|
Name : |
Mr. Kishor |
|
Designation : |
Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 27.09.2010
|
Names of Shareholders |
No. of Shares |
Percentage of Holding |
|
Satya Pal Gupta |
12300 |
24.60 |
|
Vipul Gupta |
7500 |
15.00 |
|
Kaveen Gupta |
7500 |
15.00 |
|
Sheel Gupta |
7500 |
15.00 |
|
Babita Gupta |
7500 |
15.00 |
|
Monisha Gupta |
7500 |
15.00 |
|
Ruby Dhingra |
200 |
0.40 |
|
Total |
50000 |
100.00 |
As on 27.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
99.60 |
|
Other top fifty (50) shareholders (other than listed above) |
|
0.40 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Dealers in Handicrafts and Other Items. |
|
|
|
|
Brand Names : |
“CRAFT HOUSE” |
|
|
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Exports : |
|
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Products : |
Premium Arts, Crafts |
|
Countries : |
Japan, France,
Russia, Australia, U.S.A, Asia, Europe, Australia, North America, South
America and Africa |
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|
|
|
Terms : |
|
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Selling : |
L/C, Cash and Credit (30 days) |
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|
|
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Purchasing : |
Cash and Credit (30 days) |
GENERAL INFORMATION
|
Suppliers : |
v
Abdullah Handicrafts v
Apurva Organics Limited v
Arihant Enterprises v
Devans South Indian Coffee and Tea v
Foundation for Arts v
Gupta Printers and Packers v
Haji Ismail Haji Yunus v
Nisha Book Distributors v
Pawan Tailors Gents v
Rajat Gems v
The Unknowns v
Shah Art Emporium v
Universal Fashions v
Vivek Health Products v
HVM Network Private Limited v
Kashi Udyog |
|
|
|
|
Customers : |
End Users and Others v Foreign Individual Traveler (FIT) v
Leisure v Non-resident Indian (NRI) v Diplomats including Ambassadors and the High Commissioners v Expat Resident v Corporate Traveler v Airline Crew and Staff v Celebrity and Famous Personality |
|
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No. of Employees : |
25 (Approximately) |
|
|
|
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Bankers : |
Citi Bank Limited, |
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|
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Banking
Relations : |
-- |
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|
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Auditors : |
|
|
Name : |
Vinod Sanjeev Bindal and Company Chartered Accountants |
|
Address : |
D-219, Shiv Sushil Bhawan, Vivek Vihar-I, |
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|
|
|
Associates/Subsidiaries : |
Unique Lifestyle Private Limited CIN No.: U51101DL2009PTC195494 |
CAPITAL STRUCTURE
As on 31.03.2010
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 |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500
million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
0.500 |
0.500 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
5.285 |
3.935 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
5.785 |
4.435 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.001 |
|
|
|
|
|
|
|
|
TOTAL |
|
5.785 |
4.436 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.153 |
0.117 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.740 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.001 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
1.928
|
2.437 |
|
|
Sundry Debtors |
|
0.071
|
0.776 |
|
|
Cash & Bank Balances |
|
1.131
|
1.763 |
|
|
Other Current Assets |
|
0.000
|
0.000 |
|
|
Loans & Advances |
|
2.914
|
1.652 |
|
Total
Current Assets |
|
6.044
|
6.628 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
0.260
|
0.776 |
|
|
Other Current Liabilities |
|
0.183
|
0.661 |
|
|
Provisions |
|
0.710
|
0.872 |
|
Total
Current Liabilities |
|
1.153
|
2.309 |
|
|
Net Current Assets |
|
4.891
|
4.319 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
5.785 |
4.436 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales (Handicrafts & Other Items) |
|
16.536 |
19.575 |
|
|
|
Other Income |
|
0.089 |
0.022 |
|
|
|
TOTAL |
|
16.625 |
19.597 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
|
6.542 |
8.697 |
|
|
|
Administrative & Other Expenses |
|
8.002 |
8.065 |
|
|
|
TOTAL |
|
14.544 |
16.761 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
2.081 |
2.836 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.024 |
0.004 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
2.057 |
2.832 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.709 |
0.873 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
1.348 |
1.959 |
|
|
|
|
|
|
|
|
|
|
Excess/ (Short)
Taxation Provision for earlier year(s) |
|
0.002 |
0.001 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
3.935 |
1.975 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
|
5.285 |
3.935 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
8.001 |
6.223 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
26.97 |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
|
8.11 |
9.99 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
12.44 |
14.47 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
33.19 |
41.99 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
0.36 |
0.64 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
0.20 |
0.52 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
5.24 |
2.87 |
LOCAL AGENCY FURTHER INFORMATION
FUTURE PROSPECTS
AND OPERATIONS:
The Company has continued its retail trade business under franchise of a
well-known brand and during the year the company yielded encouraging profits. The
directors are confident of achieving promising results in future also.
FIXED ASSETS:
v
Furniture and Fittings
v
Bar Code Machine
v
Computer Printer
WEBSITE DETAILS:
CRAFT HOUSE
CRAFT HOUSE brand was established to showcase the premium
arts, crafts and produce of
The mystic of
Craft House also believes in preserving the environment by encouraging the
consumption of natural and eco friendly materials. Due to sincere endeavors,
Craft House is confidently recognized as a trustworthy brand.
Craft House, the winner of prestigious "The Bizz" award for
Excellence in Business
BRAND
Craft House has a single-minded ambition to be
Craft House range of products is in tune with the international trends yet
maintaining Indian heritage and mystique.
The unique concept of Craft House was conceived to bring both quality and fine
craftsmanship of
Craft House has also opened a retail boutique in Gurgaon in year 2008.
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.45.10 |
|
|
1 |
Rs.74.27 |
|
Euro |
1 |
Rs.64.35 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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.