MIRA
INFORM REPORT
|
Report Date : |
15.10.2011 |
IDENTIFICATION DETAILS
|
Name : |
INDUS EXIMTECH PRIVATE LIMITED (w.e.f. 11.12.2006) |
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|
|
|
Formerly Known
As : |
OSMA GASES PRIVATE LIMITED (w.e.f. 09.07.2003) OSMAG XPORTS PRIVATE LIMITED |
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Registered
Office : |
Vinit Market, 241, Jayendra Ganj, |
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Country : |
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|
|
|
Financials (as
on) : |
31.03.2011 |
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|
|
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Date of
Incorporation : |
07.03.1996 |
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|
|
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Com. Reg. No.: |
10-10571 |
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|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.000 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U01120MP1996PTC010571 |
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|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMI07849C |
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|
|
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PAN No.: [Permanent Account No.] |
AABCI6719E |
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|
Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Distributor of Hardware Sector, Solvent Cement, Construction etc. |
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|
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No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 33000 |
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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. 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.
INFORMATION PARTED BY
|
Name : |
Mr. Sunil |
|
Designation : |
Accounts Manager |
|
Contact No.: |
91-22-27896462 |
|
Date : |
14.10.2011 |
LOCATIONS
|
Registered Office : |
Vinit Market, 241, Jayendra Ganj, |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-9324596644 (Mr. Alok Gupta) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Corporate Office : |
724, The |
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Tel. No.: |
91-22-81265656 |
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Fax No.: |
91-22-61265650 |
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|
|
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Factory : |
C – 6, Punit Industrial CHS, Turbhe, Navi Mumbai – 400703, |
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Location : |
Rented |
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Branch Office : |
Unit 2, Plot No. 254, Sector – 28, Vashi, Navi Mumbai - 400 705, |
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E-Mail : |
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Location : |
Rented |
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Overseas Office
: |
3929, East Ash, |
DIRECTORS
As on 30.09.2010
|
Name : |
Ms. Anjana Gupta |
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Designation : |
Director |
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Address : |
Bhaskar Apartment, Jayandra Ganj, |
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Date of Birth/Age : |
30.10.1966 |
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Qualification : |
M.Com in Economics |
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Date of Appointment : |
10.12.2007 |
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DIN No.: |
01757245 |
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Other Directorship
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Name : |
Mr. Alok Chandra Gupta |
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Designation : |
Director |
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Address : |
Flat No.02, 1st Floor, Ras Bhavan, Plot No.159, Sector 28,
Vashi, Navi Mumbai – 400 703, |
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Date of Birth/Age : |
30.08.1965 |
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Qualification : |
Graduate from IT |
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Date of Appointment : |
16.03.2009 |
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DIN No.: |
00764478 |
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Other
Directorship
|
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KEY EXECUTIVES
|
Name : |
Mr. Sunil |
|
Designation : |
Accounts Manager |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
|
Names of Shareholders |
No. of Shares |
|
Gunjan Gupta |
1100 |
|
Alok Chandra Gupta |
11800 |
|
Pradeep Kamat |
24900 |
|
Anjana Gupta |
11900 |
|
Alok Chandra Gupta HUF |
300 |
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Total |
50000 |
As on 30.09.2010
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributor of Hardware Sector, Solvent Cement, Construction etc. |
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|
|
|
Agencies Held : |
·
Wax Man ·
Perfect Clean |
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Terms : |
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Selling : |
Credit (60 days) |
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Purchasing : |
Credit (60 days) |
GENERAL INFORMATION
|
Suppliers : |
Raneshwar Printers |
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Customers : |
Wholesalers OEM’s ·
Supreme Industries Limited |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
·
Punjab National Bank ·
HDFC Bank Limited ·
ICICI Bank ·
Kotak Mahindra Bank ·
HSBC Bank Limited ·
Central Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
S Prakash and Company Chartered Accountants |
|
Address : |
Maheshwari Sadan, Near Moti Market, Jayendra Ganj, |
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Tel. No.: |
91-751-2320120 / 2320707 / 2664948 |
|
Mobile No.: |
91-9826245362 |
CAPITAL STRUCTURE
As on 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
200000 |
Equity Shares |
Rs.10/- each |
Rs.2.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 million |
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 |
|
|
|
|
|
1] Share Capital |
1.000 |
0.500 |
0.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
7.292 |
1.371 |
0.060 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
8.292 |
1.871 |
0.560 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
13.990 |
6.741 |
0.000 |
|
|
2] Unsecured Loans |
2.150 |
6.950 |
3.344 |
|
|
TOTAL BORROWING |
16.140 |
13.691 |
3.344 |
|
|
DEFERRED TAX LIABILITIES |
0.022 |
0.010 |
0.000 |
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|
|
|
|
|
|
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TOTAL |
24.454 |
15.572 |
3.904 |
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|
|
|
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APPLICATION OF FUNDS |
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|
|
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|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
0.984 |
0.319 |
0.233 |
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|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
22.269
|
15.221 |
9.896 |
|
|
Sundry Debtors |
20.680
|
14.111 |
3.776 |
|
|
Cash & Bank Balances |
0.361
|
0.762 |
0.268 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
2.867
|
2.113 |
1.409 |
|
Total
Current Assets |
46.177
|
32.207 |
15.349 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
18.072 |
15.381 |
10.936 |
|
|
Other Current Liabilities |
4.637
|
1.300 |
0.697 |
|
|
Provisions |
0.000
|
0.276 |
0.050 |
|
Total
Current Liabilities |
22.709
|
16.957 |
11.683 |
|
|
Net Current Assets |
23.468
|
15.250 |
3.666 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.002 |
0.003 |
0.005 |
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|
|
|
|
|
|
TOTAL |
24.454 |
15.572 |
3.904 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
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|
|
|
WORKING
FOR THE YEAR RESULTED IN A NET PROFIT OF |
2.921 |
1.311 |
0.201 |
|
|
|
|
|
|
|
Add/ Less |
BALANCE BROUGHT FORWARD
|
1.371 |
0.060 |
0.023 |
|
|
|
|
|
|
|
|
BALANCE
CARRIED FORWARD |
4.292 |
1.371 |
0.178 |
|
|
|
|
|
|
|
|
IMPORTS |
50.562 |
29.080 |
15.086 |
|
Particulars |
|
31.03.2011 |
31.03.2010 |
|
Sales Turnover (Approximately) |
|
100.000 |
60.000 |
Expected Sales (2011-2012) : Rs.250.000 millions
The above information has been parted by Mr. Sunil
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Debt Equity Ratio (Total Liability/Networth) |
|
4.69
|
16.38 |
26.83 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.03
|
1.90 |
1.31 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
|
Particulars |
As
on 31.03.2011 Rs.
in millions |
As
on 31.03.2010 Rs.
in millions |
As
on 31.03.2009 Rs.
in millions |
|
For Goods supplied |
16.861 |
13.228 |
9.103 |
|
For Expenses |
0.677 |
1.837 |
1.247 |
|
Other Creditors |
0.534 |
0.316 |
0.586 |
|
Total |
18.072 |
15.381 |
10.936 |
|
Sr. No. |
Check List by Info Agents |
|
|
1. |
Year of Establishment |
YES |
|
2. |
Locality of the firm |
NO |
|
3. |
Constitutions of the firm |
YES |
|
4. |
Premises details |
NO |
|
5. |
Type of Business |
YES |
|
6. |
Line of Business |
YES |
|
7. |
Promoter’s background |
-- |
|
8. |
No. of employees |
YES |
|
9. |
Name of person contacted |
YES |
|
10. |
Designation of contact person |
YES |
|
11. |
Turnover of firm for last two years |
YES |
|
12. |
Profitability for last three years |
-- |
|
13. |
Reasons for variations <> 20% |
-- |
|
14. |
Estimation for coming financial year |
YES |
|
15. |
Capital in the business |
YES |
|
16. |
Details of sister concerns |
-- |
|
17. |
Major Suppliers |
YES |
|
18. |
Major Customers |
YES |
|
19. |
Payment terms |
YES |
|
20. |
Export / Import details (is applicable) |
-- |
|
21. |
Market information |
-- |
|
22. |
Litigation that the firm / promoter involved
in |
-- |
|
23. |
Banking Details |
YES |
|
24. |
Banking facility details |
YES |
|
25. |
Conduct of the banking account |
-- |
|
26. |
Buyer visit details |
-- |
|
27. |
Financials, if provided |
NO |
|
28. |
Incorporation details, if applicable |
-- |
|
29. |
Last accounts filed at ROC |
-- |
|
30. |
Major Shareholders, is available |
-- |
WORKING OF THE
COMPANY
Working for the year is satisfactory.
FORM 8
|
Corporate identity number of the company |
U01120MP1996PTC010571 |
|
Name of the company |
INDUS EXIMTECH PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in |
Vinit Market, 241, Jayendra Ganj, |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10167116 |
|
Type of charge |
·
Book debts ·
Movable property (not being pledge) ·
Others o
Stocks |
|
Particular of charge holder |
Punjab National Bank |
|
Nature of instrument creating charge |
Hypothecation of Goods and Book Debts To Secure Cash Credit
Facility for Rs.9.000 millions (enhanced from Rs.5.000 millions) |
|
Date of instrument Creating the charge |
14.09.2010 |
|
Amount secured by the charge |
Rs.9.000 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest 13% p.a. (subject to change from time to time) Terms of Repayment Cash Credit facility is subject to review and renew at annually. Margin stock 25% Extent and Operation of the charge Rs.9.000 millions and operation of Charge on first charge on
Hypothecation of Stocks of the Company |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
first charge on Hypothecation of Stocks of the Company |
|
Particulars of the present modification |
By this submission of modification, the company has created charge on
all kind of entire hypothecated stocks to secure bank for sanction of cash credit facility of Rs.9.000 millions
(enhanced from Rs.5.000 millions) |
FIXED ASSETS
·
Furniture and Fixture
·
Air Conditioner
·
Fax Machine
·
Fire Safety Equipment
·
Inverter
·
·
Dye
·
Computer
·
Laptop
·
Bicycle
·
Tourque Wrench
·
Machinery
·
Motor Car
·
Weighing Machine
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.77.42 |
|
Euro |
1 |
Rs.67.72 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
4 |
|
--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 |
|
42 |
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.