MIRA
INFORM REPORT
|
Report Date : |
09.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
FRANK EDUCATIONAL AIDS PRIVATE LIMITED |
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Registered
Office : |
A – 404, Ashiana Apartments, Mayur Vihar, 1 (Extension), |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
08.02.1989 |
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Com. Reg. No.: |
55-034975 |
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Capital Investment/
Paid-up Capital: |
Rs. 12.500 Millions |
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CIN No.: [Company Identification
No.] |
U74899DL1989PTC034975 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELF02493B/ DELF00924A |
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PAN No.: [Permanent Account No.] |
AAACF0264C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Digital Sign Board and Publisher of Books. |
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No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 30000 |
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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 an established company having moderate track records. There
appears some 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 – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
LOCATIONS
|
Registered Office : |
A – 404, Ashiana Apartments, Mayur Vihar, 1 (Extension), New |
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Tel. No.: |
91-11-23273738 |
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E-Mail : |
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Head Office: |
A-34, Sector 4, Noida – 201301, |
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Tel No: |
91-120-2537672/ 2537673 |
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Fax No: |
91-120-2536500 |
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Email: |
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Website: |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Rakesh Kumar Govil |
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Designation : |
Director |
|
Address : |
242 Sector, 15 A, Noida, Gautam Budh Nagar, Noida – 201301, |
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Date of Birth/Age : |
23.12.1955 |
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Date of Appointment : |
08.02.1989 |
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DIN No: |
00745598 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation
of the director |
Date of appointment
at current designation |
Original date of
appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
L74140DL1985PLC022308 |
KOHINOOR SERVICES LIMITED |
Director |
31/03/1987 |
31/03/1987 |
- |
Active |
NO |
|
2 |
U74899DL1989PTC034975 |
FRANK EDUCATIONAL AIDS PRIVATE LIMITED |
Director |
8/2/1989 |
8/2/1989 |
- |
Active |
NO |
|
Name : |
Mr. Vijay Kumar Govil |
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Designation : |
Director |
|
Address : |
242 Sector, 15 A, Noida, Gautam Budh Nagar, Noida – 201301, |
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Date of Birth/Age : |
26.12.1964 |
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Date of Appointment : |
08.02.1989 |
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DIN No: |
00606544 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation
of the director |
Date of appointment
at current designation |
Original date of
appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
L74140DL1985PLC022308 |
KOHINOOR SERVICES LIMITED |
Director |
31/03/1987 |
31/03/1987 |
- |
Active |
NO |
|
2 |
U74899DL1989PTC034975 |
FRANK EDUCATIONAL AIDS PRIVATE LIMITED |
Director |
8/2/1989 |
8/2/1989 |
- |
Active |
NO |
|
Name : |
Mr. Manish Kumar Govil |
|
Designation : |
Director |
|
Address : |
242 Sector, 15 A, Noida, Gautam Budh Nagar, Noida – 201301, |
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Date of Birth/Age : |
30.11.1980 |
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Date of Appointment : |
30.09.2002 |
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DIN No: |
00606705 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation
of the director |
Date of appointment
at current designation |
Original date of
appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U74899DL1989PTC034975 |
FRANK EDUCATIONAL AIDS PRIVATE LIMITED |
Director |
30/09/2002 |
30/09/2002 |
- |
Active |
NO |
|
2 |
L74140DL1985PLC022308 |
KOHINOOR SERVICES LIMITED |
Director |
19/02/2009 |
19/02/2009 |
- |
Active |
NO |
|
Name : |
Mr. Sanjay Govil |
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Designation : |
Director |
|
Address : |
242 Sector, 15 A, Noida, Gautam Budh Nagar, Noida – 201301, |
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Date of Birth/Age : |
21.12.1982 |
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Date of Appointment : |
28.09.2006 |
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DIN No: |
00745680 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation
of the director |
Date of appointment
at current designation |
Original date of
appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U74899DL1989PTC034975 |
FRANK EDUCATIONAL AIDS PRIVATE LIMITED |
Director |
28/09/2006 |
28/09/2006 |
- |
Active |
NO |
|
2 |
L74140DL1985PLC022308 |
KOHINOOR SERVICES LIMITED |
Director |
19/02/2009 |
19/02/2009 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Rakesh Kumar Govil |
|
33960 |
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Vijay Kumar Govil |
|
28710 |
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Mohini Govil |
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3020 |
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Manish Kumar Govil |
|
5300 |
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Sanjay Govil |
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5310 |
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Govil Namrata Govil (Guardian R. K Govil) |
|
300 |
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Govil Lakshita (Guardian V. K. Govil) |
|
300 |
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Bhavika Govil |
|
300 |
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Kohinoor Services Limited |
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1000 |
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Neeta Govil |
|
8000 |
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Sunita Govil |
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13500 |
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S. C Govil HUF |
|
12600 |
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R. K. Govil HUF |
|
12600 |
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V K Govil HUF |
|
100 |
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Total |
|
125000 |
As on 31.03.2011
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Names of Allottees |
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No. of Shares
Allotted |
|
Rakesh Kumar Govil |
|
2500 |
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Vijay Kumar Govil |
|
10000 |
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Manish Kumar Govil |
|
2500 |
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Sanjay Govil |
|
2500 |
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S. C Govil HUF |
|
20000 |
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R. K. Govil HUF |
|
20000 |
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V K Govil HUF |
|
7500 |
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Total |
|
65000 |
Equity Share Break up (Percentage of Total Equity)
AS ON 30.09.2010
|
Category |
Percentage |
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Bodies corporate |
0.80 |
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Directors or relatives of Directors |
99.20 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Digital Sign Board and Publisher of Books. |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mr. Dinesh Kumar Agarwal Chartered Accountant |
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Address : |
K. M. Agarwal and Company, 36 Netaji Subhash Marg, Darya Ganj, |
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PAN No.: |
AEOPD3690K |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
200000 |
Equity Shares |
Rs. 100/- each |
Rs. 20.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
|
|
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|
125000 |
Equity Shares |
Rs. 100/-
ech |
Rs. 12.500
Millions |
After 30.09.2010
Authorised Capital Rs. 20.000 Millions
Paid up Capital Rs. 19.030 Millions
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
12.500 |
10.000 |
7.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
(4.157) |
(2.614) |
(3.032) |
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NETWORTH |
8.343 |
7.386 |
4.468 |
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LOAN FUNDS |
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1] Secured Loans |
26.326 |
23.335 |
21.211 |
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2] Unsecured Loans |
39.109 |
43.509 |
40.506 |
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TOTAL BORROWING |
65.435 |
66.844 |
61.717 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.211 |
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TOTAL |
73.778 |
74.230 |
66.396 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
32.300 |
32.883 |
32.942 |
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Capital work-in-progress |
1.986 |
1.671 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.191 |
0.020 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
31.165
|
36.910 |
24.527 |
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Sundry Debtors |
51.885
|
36.163 |
15.221 |
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Cash & Bank Balances |
2.357
|
1.793 |
1.803 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
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Loans & Advances |
6.795
|
3.380 |
4.819 |
|
Total
Current Assets |
92.202
|
78.246 |
46.370 |
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|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
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Sundry Creditors |
45.546
|
32.761 |
7.914 |
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Other Current Liabilities |
7.920
|
6.981 |
6.099 |
|
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Provisions |
(0.342)
|
(0.705) |
(0.427) |
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Total
Current Liabilities |
53.124
|
39.037 |
13.586 |
|
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Net Current Assets |
39.078
|
39.209 |
32.784 |
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MISCELLANEOUS EXPENSES |
0.223 |
0.447 |
0.670 |
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TOTAL |
73.778 |
74.230 |
66.396 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
|
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|
Income |
124.706 |
104.091 |
72.750 |
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Interest Received |
0.045 |
0.079 |
0.063 |
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Other Income |
2.667 |
1.477 |
1.041 |
|
|
|
TOTAL |
127.418 |
105.647 |
73.854 |
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|
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Less |
EXPENSES |
|
|
|
|
|
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|
Raw Material and Stores consumed |
34.163 |
40.555 |
22.548 |
|
|
|
Purchase of finished goods |
8.362 |
11.367 |
6.827 |
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|
Decrease/ Increase in finished goods |
10.549 |
(14.082) |
(1.531) |
|
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|
Manufacturing Expenses |
16.145 |
17.584 |
11.155 |
|
|
|
Selling and Administrative Expenses |
53.975 |
43.670 |
32.798 |
|
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Directors Remuneration |
1.352 |
1.370 |
1.056 |
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|
Auditors Remuneration |
0.334 |
0.275 |
0.243 |
|
|
|
Loss on sale of fixed assets |
0.000 |
0.043 |
0.000 |
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TOTAL |
124.880 |
100.782 |
73.096 |
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PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
2.538 |
4.865 |
0.758 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
4.133 |
4.278 |
3.750 |
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|
PROFIT/ (LOSS)
BEFORE TAX |
(1.595) |
0.587 |
(2.992) |
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Less |
TAX |
(0.053) |
0.170 |
(0.033) |
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PROFIT/ (LOSS)
AFTER TAX |
(1.542) |
0.417 |
(2.959) |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(2.614) |
(3.032) |
(0.073) |
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BALANCE CARRIED
TO THE B/S |
(4.156) |
(2.614) |
(3.032) |
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EARNINGS IN
FOREIGN CURRENCY |
|
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|
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|
Export Sales |
28.197 |
28.462 |
20.570 |
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TOTAL EARNINGS |
28.197 |
28.462 |
20.570 |
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Earnings/ (Loss)
Per Share (Rs.) |
-- |
4.18 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
(1.21)
|
0.39 |
(4.00) |
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Net Profit Margin (PBT/Sales) |
(%) |
(1.27)
|
0.56 |
(4.11) |
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Return on Total Assets (PBT/Total Assets} |
(%) |
(1.28)
|
0.52 |
(3.77) |
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|
Return on Investment (ROI) (PBT/Networth) |
|
0.19
|
0.07 |
0.66 |
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|
|
|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
14.21
|
14.33 |
16.85 |
|
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|
|
|
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|
Current Ratio (Current Asset/Current Liability) |
|
1.73
|
2.00 |
3.41 |
LOCAL AGENCY FURTHER INFORMATION
Operations:
During the year the company has recorded total sale of Rs. 124.706 Millions and after depreciation the net profit is 1.595 Millions.
There is no employee in respect of which particulars pursuant to section 217(2A) of the companies Act, 1956 are to be given.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U74899DL1989PTC034975 |
|
Name of the company
|
FRANK EDUCATIONAL AIDS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
A – 404, Ashiana Apartments, Mayur Vihar, 1 (Extension), New |
|
This form is for |
Creation of Charge |
|
Type of charge |
|
|
Particular of
charge holder |
Bank of Email: vinay.vaish@citi.com |
|
Nature of
instrument creating charge |
Sanction letter
dated 25.03.2010 Business loan
agreement dated 27.03.2010 Deed of
Hypothecation |
|
Date of
instrument Creating the charge |
27.03.2010 |
|
Amount secured by
the charge |
Rs.37.500
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest: As per loan
agreement Terms of Repayment: Tenor of 12 months
for Rs. 22.000 Millions (Secured AROD) Tenor of 6 months
for Rs. 10.000 Millions (Secured STDL) Tenor of 180 days
for Rs. 3.000 Millions (Secured PCFC) Tenor of 180 days
for Rs. 25.000 Millions (Secured LOCR) Margin: As per loan
agreement Extent and Operation of the charge: The charge is to
secure outstanding loan amount, interest, fee, commitment charges, costs,
charges and expenses and all other amounts payable under the loan agreement
dated 27.03.2010 |
|
Short Particulars
of the property or assets charged |
Equitable
mortgage on the industrial property located at D- 174 and 175, Hosiery
Complex, Phase – II, (Extension), Noida – 201305 Equitable
mortgage on the industrial property located at B – 12, Sector – 3, Noida –
201305 Personal
guarantees of Mr. Rakesh Kumar Govil, Mr. Vijay Kumar Govil, Mr. Manish
Govil, Mr. Sanjay Govil First and
Exclusive charge on stocks and book debts. |
Fixed Assets:
- Land
- Noida (New
Industrial Plot)
- Factory Shed
- Airconditioner
- Airconditioner
Phase II
- Bicycle
- Die Cutting
and Creasing Machine
- Digital
Camera
- Electric
Fixtures and Fitting
- Electric
Fixtures and Fitting Phase Ii
- Electricity
Panel
- Fax Machine
- Fire
Extinguishers
- Fork Stacker
Machine (Phase II)
- Genset
- Genset (Phase
II)
- Hand Pallet
Truck (Godown)
- Hard Case
Marker (Pasting Machine)
- Labelling
Machine
- Lamination
Machine
- Laser Printer
- Machinery
- Material
Handling Equipments
- Office
Equipments
- Office
Equipments (Phase II)
- Paper Cutting
Machine
- Photostat
Machine
- Pre Press Equipments
- Shrink
Wrapping Machine
- Stabilizer
- Stabilizer
(Phase II)
- Strapping
Machine
- Time Recorder
Clock (Factory)
- Time Recorder
Clock (Office)
- Time Recorder
Clock (Phase II)
- Tools and
Equipments (Phase II)
- Water Cooler
- Water Cooler
(Phase II)
- Water Pump
- Water Pump
(Submercible)
- Water
Purifier
- Water
Purifier (Phase II)
- Weighing
Scale
- Xerox Printer
- Furniture and
Fixtures
- Furniture and
Fixtures (Phase II)
- Car (AVEO)
- Car Baleno
- Car (Honda
City)
- Car (Honda
City 1.5V)
- Car (Maruti
Swift)
- Computer
- Book Titles
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] 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.49.38 |
|
|
1 |
Rs.79.19 |
|
Euro |
1 |
Rs.67.84 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
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 |
|
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.