MIRA
INFORM REPORT
|
Report Date : |
03.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
WOODIDEA FLOORINGS PRIVATE LIMITED (w.e.f. 12.01.2010) |
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Formerly Known
As : |
SATKAR AUTO STORES PRIVATE LIMITED |
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Registered
Office : |
A-8, Maya Puri Industrial Area, Phase I, New Delhi 110064 |
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Country : |
India |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
28.07.1997 |
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Com. Reg. No.: |
088754 |
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Capital Investment
/ Paid-up Capital : |
Rs.0.100 million |
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CIN No.: [Company Identification
No.] |
U74900DL1997PTC088754 |
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Legal Form : |
Private Limited Liability Company
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Line of Business
: |
Trading Business of Textiles and Fabrics and General Goods |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B (31) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 314420 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to low. However, trade relations are reported as fair.
Business is active. Payments are reported to be slow but correct. The company can be considered for business dealings with some
cautions. |
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) |
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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 : |
A-8, Maya Puri Industrial Area, Phase I, New Delhi 110064, India |
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E-Mail : |
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Administration Office : |
D - 14D, Rajouri Garden, New
Delhi 110027, India |
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Tel. No.: |
91-11-25115179 |
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E-Mail : |
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Showroom: |
5, Sewa Corporate Suits, M G Road, Gurgaon 122002, India |
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Tel. No.: |
91-124-4259325 |
DIRECTORS
AS ON 30.09.2010
|
Name : |
Mr. Nandlal Kothari |
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Designation : |
Director |
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Date of Appointment : |
21.02.2009 |
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Name : |
Mr. Sham Sunder Kothari |
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Designation : |
Director |
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Date of Appointment : |
21.02.2009 |
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Date of Ceasing: |
25.10.2010 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2010
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
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|
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Directors or relatives of directors |
|
100.00 |
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Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading Business of Textiles and Fabrics and General Goods |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
Oriental Bank of Commerce Limited, Delhi Mansrover Garden, New Delhi
110015, India |
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Facilities : |
-- |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Ajay Bhushan Sanwalka Chartered Accountant |
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Address : |
3J, gopala Towers, Rajindra Palce, New Delhi 110008, India |
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Name : |
Sunil Grover and Company Chartered Accountant |
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Address : |
Room No. 305, Second Floor, EMCA Chamber, 51 Darya Ganj, New Delhi 110002,
India |
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Associates/Subsidiaries : |
·
Kothari Marbles, New Delhi ·
Kothari Marbles, Ludhiana ·
Dee Pearls (India) Private Limited |
CAPITAL STRUCTURE
AS ON 30.09.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
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|
50000 |
Equity Shares |
Rs. 10 each |
Rs.0.500 million |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
10000 |
Equity Shares |
Rs. 10 each |
Rs.0.100 million |
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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 |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
78.505 |
78.194 |
78.191 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
78.605 |
78.294 |
78.291 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.002 |
0.000 |
0.000 |
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TOTAL |
78.607 |
78.294 |
78.291 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.049 |
0.012 |
0.016 |
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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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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
|
46.288 |
68.420 |
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Sundry Debtors |
0.000
|
6.987 |
9.988 |
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Cash & Bank Balances |
12.904
|
25.014 |
0.208 |
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Other Current Assets |
0.000 |
0.000 |
0.000 |
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Loans & Advances |
65.959
|
0.000 |
0.028 |
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Total
Current Assets |
78.863
|
78.289 |
78.644 |
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|
Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
0.000
|
0.000 |
0.314 |
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Other Current Liabilities |
0.305
|
0.007 |
0.049 |
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Provisions |
0.000
|
0.000 |
0.006 |
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Total
Current Liabilities |
0.305
|
0.007 |
0.369 |
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Net Current Assets |
78.558
|
78.282 |
78.275 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
78.607 |
78.294 |
78.291 |
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PROFIT & LOSS
ACCOUNT
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|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
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SALES |
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Sales |
|
46.416 |
23.231 |
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Other Income |
|
1.160 |
0.000 |
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TOTAL (A) |
|
47.576 |
23.231 |
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Less |
EXPENSES |
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Cost of Materials |
|
46.288 |
22.783 |
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Administrative Expenses |
|
0.830 |
0.439 |
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TOTAL (B) |
|
47.118 |
23.222 |
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
|
0.458 |
0.009 |
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Less |
FINANCIAL
EXPENSES (D) |
|
NA |
NA |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
|
0.458 |
0.009 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
|
0.008 |
0.004 |
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PROFIT BEFORE
TAX (E-F) (G) |
|
0.450 |
0.005 |
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Less |
TAX (H) |
|
0.139 |
0.003 |
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PROFIT AFTER TAX
(G-H) (I) |
|
0.311 |
0.002 |
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Earnings Per
Share (Rs.) |
|
31.10 |
-- |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
0.65
|
0.00 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
0.96
|
0.02 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.57
|
0.00 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
|
0.00
|
0.00 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
|
0.00
|
0.00 |
0.00 |
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Current Ratio (Current Asset/Current Liability) |
|
258.56
|
11184.14 |
213.12 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULTS:
The company has earned a net profit after tax of Rs. 0.311 million
during the year. Due to nominal profit, Directors are unable to recommend any
dividend during the year.
FIXED ASSETS:
·
Office Equipments
·
Furniture and Fixtures
·
Computers
FORM 8
|
Corporate
identity number of the company |
U74900DL1997PTC088754 |
|
Name of the
company |
WOODIDEA FLOORINGS PRIVATE LIMITED (w.e.f. 12.01.2010) |
|
Address of the
registered office or of the principal place of business in |
A-8, Maya Puri Industrial Area, Phase I, New Delhi 110064, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) Others |
|
Particular of
charge holder |
Oriental Bank of Commerce Limited, Delhi Mansrover Garden, New Delhi
110015, India Email: bm0903@obc.co.in |
|
Nature of
instrument creating charge |
Loan Doc-1
Agreement of Hypothecation of Assets |
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Date of instrument
Creating the charge |
31.05.2010 |
|
Amount secured by
the charge |
Rs. 30.000
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest 12% P.A. charged
on monthly rest with penal interest @2% if borrower violate any terms of
conditions of the agreement Terms of repayment On Demand Margin 25% in case CC
and 10% in case of LOC Extent and operation of the charge 100% |
|
Short particulars
of the property charged (Including location of the property) |
Stock of wooden
flooring tiles and trade receivables Documents of
title to goods in case of LC on DP basis Hypothecation
charge over the goods in case of LC on DA basis First charge on
entire present and future fixed assets of the company |
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.44.23 |
|
|
1 |
Rs.72.09 |
|
Euro |
1 |
Rs.62.98 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
31 |
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.