MIRA
INFORM REPORT
|
Report Date : |
09.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
WAHI SONS PRIVATE LIMITED |
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Registered
Office : |
Plot No.11, Sector 5, IMT Manesar, Gurgaon – 122050, Haryana |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
18.10.1995 |
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Com. Reg. No.: |
55-073297 |
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Capital Investment
/ Paid-up Capital : |
Rs.9.943
millions |
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CIN No.: [Company Identification
No.] |
U74899DL1995PTC073297 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELW01200D |
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PAN No.: [Permanent Account No.] |
AAACW1247L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Supplier of Sheet Metal Parts, CNC Turning Parts,
Welded Assemblies and Body Shop Parts. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 199000 |
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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 – 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
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Registered Office : |
Plot No.11, Sector 5, IMT Manesar, Gurgaon – 122050, |
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Tel. No.: |
91-124-4340400-499 |
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Fax No.: |
91-124-2291507 |
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E-Mail : |
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Website : |
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Factory : |
Located at: v
Bawal |
DIRECTORS
As on 30.09.2011
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Name : |
Mr. Manav Wahi |
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Designation : |
Director |
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Address : |
D-5, Pushpanjali Farms, Bijwasan, |
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Date of Birth/Age : |
04.05.1979 |
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Date of Appointment : |
02.09.2004 |
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DIN No.: |
00726587 |
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Other Directorship :
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Name : |
Bani Wahi |
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Designation : |
Director |
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Address : |
D-5, Pushpanjali Farms, Bijwasan, |
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Date of Birth/Age : |
30.01.1957 |
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Date of Appointment : |
10.06.1999 |
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DIN No.: |
02399580 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Bani Wahi |
|
397500 |
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Usha Wahi |
|
400000 |
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Manav Wahi |
|
196800 |
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Total |
|
994300 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
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|
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Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier of Sheet Metal Parts, CNC Turning Parts,
Welded Assemblies and Body Shop Parts. |
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Products : |
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Exports : |
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Countries : |
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GENERAL INFORMATION
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Customers : |
v
Mahindra v
Mitsubishi Motors v
v
Fiat v
Maruti Suzuki v
Land Rover v
Nisaan v
Mercedes-Benz v
Honda v
Volkswagen v
BMW v
Jaguar v
TRW v
Tata v
Ford v
General Motor v
v
Skoda |
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No. of Employees : |
Not Available |
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Bankers : |
v Indian Bank,
Chandini Chowk Branch, 309, v HDFC Bank Limited v ICICI Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
PVR-N and Company Chartered Accountants |
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Address : |
2936/43, Beadon Pura, Saraswati Marg, Karol Bagh, |
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Tel. No.: |
91-11-28723207, 28726055 |
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E-Mail : |
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PAN No.: |
AAFFP4583N |
CAPITAL STRUCTURE
As on 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
994300 |
Equity Shares |
Rs.10/- each |
Rs.9.943
millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
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|
|
|
|
1] Share Capital |
9.943 |
9.943 |
9.943 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
39.717 |
27.937 |
19.751 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
49.660 |
37.880 |
29.694 |
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LOAN FUNDS |
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1] Secured Loans |
98.088 |
41.355 |
31.294 |
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2] Unsecured Loans |
50.264 |
31.857 |
23.466 |
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TOTAL BORROWING |
148.352 |
73.212 |
54.760 |
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DEFERRED TAX LIABILITIES |
1.341 |
0.000 |
0.000 |
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TOTAL |
199.353 |
111.092 |
84.454 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
175.593 |
90.924 |
79.971 |
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Capital work-in-progress |
0.000 |
21.231 |
7.646 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.133 |
0.279 |
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CURRENT ASSETS, LOANS & ADVANCES |
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|
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Inventories |
45.113
|
27.306 |
21.777 |
|
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Sundry Debtors |
74.191
|
35.511 |
31.696 |
|
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Cash & Bank Balances |
26.021
|
8.170 |
4.605 |
|
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Other Current Assets |
1.102
|
1.102 |
1.102 |
|
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Loans & Advances |
8.520
|
11.826 |
7.280 |
|
Total
Current Assets |
154.947
|
83.915 |
66.460 |
|
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
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|
Sundry Creditors |
114.843
|
61.753 |
57.473 |
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Other Current Liabilities |
11.200
|
16.803 |
9.557 |
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Provisions |
5.144
|
6.580 |
2.922 |
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Total
Current Liabilities |
131.187
|
85.136 |
69.952 |
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Net Current Assets |
23.760
|
(1.221) |
(3.492) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.025 |
0.050 |
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TOTAL |
199.353 |
111.092 |
84.454 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
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SALES |
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Income |
|
340.313 |
222.669 |
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Other Income |
|
17.921 |
0.560 |
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TOTAL |
|
358.234 |
223.229 |
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Less |
EXPENSES |
|
|
|
|
|
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|
Office Expenses |
|
|
196.694 |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
|
320.936 |
196.694 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
|
37.298 |
26.535 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
|
18.900 |
11.624 |
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PROFIT BEFORE
TAX |
|
18.398 |
14.911 |
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Less |
TAX |
|
6.618 |
6.725 |
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PROFIT AFTER TAX
|
|
11.780 |
8.186 |
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BALANCE CARRIED
TO THE B/S |
|
39.717 |
27.937 |
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|
Earnings Per
Share (Rs.) |
|
11.85 |
8.23 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
3.29
|
3.67 |
NA |
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|
Net Profit Margin (PBT/Sales) |
(%) |
5.41
|
6.70 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
5.57
|
8.53 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
|
0.37
|
0.39 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
|
5.63
|
4.18 |
4.20 |
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|
Current Ratio (Current Asset/Current Liability) |
|
1.18
|
0.99 |
0.95 |
LOCAL AGENCY FURTHER INFORMATION
Note:
The registered office of the company has been shifted from 19/175, Basti Sarai, Old Rohtak Road, New Delhi – 110 035 to the present address.
FORM 8:
|
Corporate
identity number of the company |
U74899DL1995PTC073297 |
|
Name of the
company |
WAHI SONS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
19/175, Basti Sarai, E-Mail: admin@taksalpharma.com |
|
This form is for |
Creation of
charge |
|
Type of charge |
Immovable
Property Book Debts Movable Property Floating Charge Others (stocks,
Book Debts, Plant and Machinery, current and fixed assets, E.M.) |
|
Particular of charge
holder |
Indian Bank,
Chandini Chowk Branch, 309, E-Mail: chandinichowk@indianbank.co.in |
|
Nature of description
of the instrument creating or modifying the charge |
Application and
agreement for forward exchange contract D-33 letter from
party to bank confirming extension of equitable mortgage |
|
Date of
instrument Creating the charge |
01.08.2011 |
|
Amount secured by
the charge |
Rs.10.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: As per sanction
terms and bank norms Terms of
Repayment: As per sanction terms
and bank norms Margin: As per sanction
terms and bank norms Extent and
Operation of the charge: first charge by
way of hypothecation of stocks and book debts, entire plant and machinery
existing and new machineries to be purchased, current and fixed assets of the
company present and future and E.M. of properties situated at Plot No.11, Sector-5 Industrial
Estate, IMT, Manesar (approximately 7875 sq. mtrs. are to secure the forward purchase contract
limit of Rs.10.000 millions sanctioned by bank to the company |
|
Short particulars
of the property charged |
stocks and book
debts, entire plant and machinery existing and new machineries to be
purchased, current and fixed assets of the company present and future E.M. of
properties situated at i) Plot No.11, Sector-5 Industrial Estate, IMT,
Manesar (approximately 7875 sq. mtrs. |
FIXED ASSETS:
v
Land
v
Building
v
Plant and Machinery
v
Furniture and Fixtures
v
Office Equipments
v
Electrical Equipments
v
Mould and Dies
v
Computer
v
Crates
v
Generator
v
Vehicles
v Machinery Imported
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.49.38 |
|
|
1 |
Rs.79.20 |
|
Euro |
1 |
Rs.67.84 |
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 |
6 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
46 |
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.