MIRA
INFORM REPORT
|
Report Date : |
11.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
TEJ INTERNATIONAL PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
F-5/D, Industrial Area, Bhiwadi - 301019, Rajasthan |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
06.03.1982 |
|
|
|
|
Com. Reg. No.: |
17-002923 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.2.200 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U19112RJ1984PTC002923 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
JPRT01402C |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT0098E |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer, Exporter and Dealer of Leather Footwear |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba [51] |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
USD 900000 |
|
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well established company having fine track. The company
is doing well. 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 – 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 : |
F-5/D, Industrial Area, Bhiwadi - 301019, |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Branch Office : |
|
|
Tel. No.: |
91-562-2642473 / 2641822 / 2642474 |
|
Fax No.: |
|
SOLE PROPRIETOR/PARTNERS/DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Daljeet Singh |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
New House, 53, Surya Nagar, |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
26.04.1949 |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
06.03.1984 |
||||||||||||||||||||||||||||||||||||||||
|
DIN : |
01477593 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship : |
|
||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||
|
Name : |
Mr. Mohinder Singh |
||||||||||||||||||||||||||||||||||||||||
|
Designation : |
Director |
||||||||||||||||||||||||||||||||||||||||
|
Address : |
70, Lajpat Kunj, Khandari, |
||||||||||||||||||||||||||||||||||||||||
|
Date of Birth/Age : |
16.08.1957 |
||||||||||||||||||||||||||||||||||||||||
|
Date of Appointment : |
06.03.1984 |
||||||||||||||||||||||||||||||||||||||||
|
DIN : |
01554406 |
||||||||||||||||||||||||||||||||||||||||
|
Other Directorship : |
|
||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Daljeet Singh |
|
10610 |
|
Mohinder Singh |
|
4750 |
|
Tej Shoe Exporters Private Limited |
|
4500 |
|
Tej Shoe Factory [through its parner Daljeet Singh] |
|
2000 |
|
Neena Kathuria |
|
140 |
|
Total |
|
22000 |
As on 30.09.2010
|
Category |
Percentage |
|
Bodies corporate |
20.45 |
|
Directors or relatives of Directors |
79.55 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Exporter and Dealer of Leather Footwear |
PRODUCTION STATUS As on 31.03.2010
|
Particulars |
Unit |
Licensed
Capacity |
Installed
Capacity |
Actual
Production |
|
Leather Footwear / Fottwear Uppers |
Pair in Nos. |
400,000 |
1,100,000 |
1,320,811 |
|
Note : Installed capacity
is as certified by the management but not verified by the auditors being a
technical matter. |
||||
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Rallan and Company Chartered Accountants |
|
Address : |
4D, Kaveri Centre, 1st Floor, Block 57/2, Sanjay Place,
Agra – 282002, Uttar Pradesh, India |
|
Tel. No.: |
91-562-2525999 / 2528598 |
|
|
|
|
Associates : |
Address
:
10th – 11th Mile Stone, Tel. No. : 91-562-2642473 / 2641822 / 2642474 Fax
No. : 91-562-2642472 |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30,000 |
Equity Shares |
Rs.100/-each |
Rs.3.000
millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
22,000 |
Equity Shares |
Rs.100/-each |
Rs.2.200
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
2.200 |
2.200 |
2.200 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
224.934 |
187.956 |
165.592 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
227.134 |
190.156 |
167.792 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
74.780 |
185.448 |
82.298 |
|
|
2] Unsecured Loans |
1.500 |
1.500 |
1.500 |
|
|
TOTAL BORROWING |
76.280 |
186.948 |
83.798 |
|
|
DEFERRED TAX LIABILITIES |
14.976 |
18.230 |
12.286 |
|
|
|
|
|
|
|
|
TOTAL |
318.390 |
395.334 |
263.876 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
183.732 |
160.620 |
135.819 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
1.500 |
1.500 |
1.500 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
101.235
|
56.638 |
55.611 |
|
|
Sundry Debtors |
136.225
|
192.972 |
143.237 |
|
|
Cash & Bank Balances |
59.890
|
156.767 |
34.244 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
67.876
|
76.744 |
58.234 |
|
Total
Current Assets |
365.226
|
483.121 |
291.326 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
172.327
|
199.111 |
141.123 |
|
|
Other Current Liabilities |
37.095
|
31.904 |
12.149 |
|
|
Provisions |
22.646
|
18.892 |
12.533 |
|
Total
Current Liabilities |
232.068
|
249.907 |
165.805 |
|
|
Net Current Assets |
133.158
|
233.214 |
125.521 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
1.036 |
|
|
|
|
|
|
|
|
TOTAL |
318.390 |
395.334 |
263.876 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
720.744 |
715.936 |
|
|
|
Other Income |
|
93.145 |
70.776 |
|
|
|
TOTAL (A) |
851.473 |
813.889 |
786.712 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Manufacturing Expenses |
|
537.411 |
545.066 |
|
|
|
Employee Cost |
|
119.561 |
102.985 |
|
|
|
Administrative and selling Expenses |
|
91.872 |
86.397 |
|
|
|
Increase / Decrease in stock |
|
0.457 |
1.581 |
|
|
|
TOTAL (B) |
798.273 |
749.301 |
736.029 |
|
|
|
|
|
|
|
|
|
PROFIT/LOSS
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
53.200 |
64.588 |
50.683 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
2.095 |
8.276 |
11.407 |
|
|
|
|
|
|
|
|
|
|
PROFIT/LOSS
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
51.105 |
56.312 |
39.276 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.000 |
11.967 |
10.123 |
|
|
|
|
|
|
|
|
|
|
PROFIT / LOSS
BEFORE TAX (E-F) (G) |
51.105 |
44.345 |
29.153 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
14.127 |
21.980 |
11.321 |
|
|
|
|
|
|
|
|
|
|
PROFIT / LOSS
AFTER TAX (G-H) (I) |
36.978 |
22.363 |
17.832 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
NA |
115.650 |
97.818 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED TO
THE B/S |
NA |
138.013 |
115.650 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
FOB Value of Export |
516.943 |
625.663 |
650.376 |
|
|
TOTAL EARNINGS |
516.943 |
625.663 |
650.376 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
48.912 |
48.318 |
29.036 |
|
|
|
Stores & Spares |
1.819 |
0.499 |
0.185 |
|
|
|
Capital Goods |
2.105 |
0.470 |
0.870 |
|
|
TOTAL IMPORTS |
52.836 |
49.287 |
30.091 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
1680.82 |
1016.52 |
810.55 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
4.34
|
2.75 |
2.27 |
|
|
|
|
|
|
|
(PBT/Sales) |
(%) |
NA
|
6.15 |
4.07 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.31
|
6.89 |
6.82 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.22
|
0.23 |
0.17 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.36
|
2.30 |
1.49 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.57
|
1.93 |
1.76 |
LOCAL AGENCY FURTHER INFORMATION
Note : Registered office
address of the company has been shifted from A-586, RIICO Industrial Area,
Bhiwadi,
Operational
Results :
During the year, the results have been encouraging and the trends since the
date of the balance sheet are still encouraging. The directors are confident to
end the current year with still better results.
Contingent
Liabilities :
Rs.in millions
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
|
i. Bank Guarantee |
0.032 |
0.416 |
|
ii. contracts remaining to be executed on capital account
[against which advance given] |
1.846 |
1.846 |
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U19112RJ1984PTC002923 |
|
Name of the
company |
TEJ INTERNATIONAL
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
F-5/D,Industrial
Area, Bhiwadi, Rajasthan - 301019, |
|
This form is for |
Modification of
charge |
|
Charge identification
(ID) number of the charge to be modified |
10155345 |
|
Type of charge |
|
|
Particular of
charge holder |
Bank Of |
|
Nature of
instrument creating charge |
Letter Evidencing
Deposit of Title Deeds |
|
Date of
instrument Creating the charge |
27.03.2010 |
|
Amount secured by
the charge |
Rs.210.000
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Terms of
Repayment - As per agreement Extent and
Operation of the charge - 100% to secure various credit facilities up-to
Rs.210.000 millions together with interest with interest and all other costs
as applicable from time to time. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Tangible moveable
machinery plant, stored/installed at borrower's premises at |
|
Particulars of
the present modification |
Credit facilities
up to Rs. 210.000 millions, sanctioned to the company further secured by way
of Equitable mortgage by way of deposit of title deeds in respect of
immovable properties of the company situated at Khasra No. 524, 536 and 537,
Mauza Artoni, Agra Mathura Road, Agra Uttar Pradesh. other terms and
conditions remain same. |
FIXED ASSETS :
§
Land
§
Building
§
Plant and Machinery
§
Furniture and Fixtures
§
Computer
§
Office Equipments
§
Electrical Installations
§
Vehicles
§
Dies
§
Temporary Wooden Structures
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.49.07 |
|
|
1 |
Rs.76.65 |
|
Euro |
1 |
Rs.66.16 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
51 |
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.