MIRA
INFORM REPORT
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Report Date : |
29.09.2011 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
B-81, Okhla Industrial Area, Phase-I, New Delhi-110020 |
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Country : |
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Financials (as on) : |
31.03.2010 |
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Date of Incorporation : |
18.02.1977 |
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Com. Reg. No.: |
55-8507 |
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Paid up Capital : |
Rs.9.576 millions |
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CIN No.: [Company
Identification No.] |
U74899DL1977PTC008507 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELM08813A DELM09428G |
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PAN No.: [Permanent
Account No.] |
AAACM0433A |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importer and Buyer of Alcohol. |
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No. of Employees : |
25 (approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (45) |
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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 170000 |
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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 – 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 : |
B-81, Okhla Industrial Area, Phase-I, New Delhi-110020, |
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Tel. No.: |
91-11-43743434 |
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Fax No.: |
91-11-41513636 |
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E-Mail : |
DIRECTORS
As on 29.09.2009
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Name : |
Mr. Rohit Manoj Mehra |
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Designation : |
Managing Director |
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Address : |
32 E/F, Ashoka Avenue, Sainik
Farm, New Delhi – 110062, India |
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Date of Birth/Age : |
30.09.1958 |
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Qualification : |
Graduate |
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Date of Appointment : |
30.12.1998 |
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Other Directorship : |
Deepika Marketing Private Limited |
Other Directorship
Name:
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ROHIT MANOJ MEHRA
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Name : |
Ms. Deepa Mehra |
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Designation : |
Director |
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Address : |
32 E/F, Ashoka Avenue, Sainik
Farm, New Delhi – 110062, India |
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Date of Birth/Age : |
17.12.1962 |
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Date of Appointment : |
04.09.1999 |
Other Directorship
Name:
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DEEPA MEHRA
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2009
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Names of Shareholders |
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No. of Shares |
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Rohit Manoj Mehra |
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18465 |
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Deepa Mehra |
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64006 |
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Shweta Mehra |
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3672 |
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Suhail Mehra |
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3672 |
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Rohit Manoj Mehra Jointly
with Deepa Mehra |
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3497 |
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Rohit Manoj Mehra HUF |
|
2448 |
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Total |
|
95760 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2010
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Category |
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Percentage of Holding |
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Directors
or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Importer and Buyer of Alcohol. |
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Products : |
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GENERAL INFORMATION
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Customers : |
Diplomats, Hotels and Bonded Warehouses |
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No. of Employees : |
Around 25 |
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Bankers : |
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Facilities : |
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
Uberoi Sood and Kapoor Chartered Accountants |
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Address : |
606, Vishal Bhawan – 95, |
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Tel No.: |
91-11-26416942/ 26429297 |
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Fax No.: |
91-11-26480027 |
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E mail: |
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Associates/Subsidiaries : |
Deepeka Marketing Private
Limited CIN No.:
U74899DL1994PTC059976 |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
150,000 |
Equity Shares |
Rs.100/- each |
Rs. 15.000 millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
95,760 |
Equity Shares |
Rs.100/-
each |
Rs.9.576
millions |
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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 |
9.576 |
8.743 |
8.743 |
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2] Share Application Money |
0.001 |
2.500 |
2.500 |
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3] Reserves & Surplus |
34.285 |
25.214 |
17.290 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
43.862 |
36.457 |
28.533 |
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LOAN FUNDS |
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1] Secured Loans |
96.451 |
122.557 |
29.181 |
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2] Unsecured Loans |
20.734 |
20.741 |
20.759 |
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TOTAL BORROWING |
117.185 |
143.298 |
49.940 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
161.047 |
179.755 |
78.473 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
11.695 |
11.262 |
4.034 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
2.785 |
2.785 |
2.785 |
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DEFERREX TAX ASSETS |
0.837 |
0.677 |
0.262 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
87.459
|
113.011
|
91.748 |
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Sundry Debtors |
96.129
|
220.079
|
77.119 |
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Cash & Bank Balances |
16.184
|
12.626
|
11.117 |
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Other Current Assets |
0.000
|
0.000
|
0.000 |
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Loans & Advances |
31.027
|
29.124
|
46.300 |
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Total
Current Assets |
230.799
|
374.840
|
226.284 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
58.873
|
188.963
|
137.239 |
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Other Current Liabilities |
1.799
|
0.774
|
0.380 |
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Provisions |
24.397
|
20.072
|
17.273 |
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Total
Current Liabilities |
85.069
|
209.809
|
154.892 |
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Net Current Assets |
145.730
|
165.031
|
71.392 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
161.047 |
179.755 |
78.473 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SALES |
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Income and other Income |
324.858 |
436.545 |
436.190 |
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TOTAL |
324.858 |
436.545 |
436.190 |
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Less |
TOTAL EXPENSES |
313.883 |
424.243 |
419.206 |
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PROFIT BEFORE
TAX |
10.975 |
12.302 |
16.984 |
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Less |
TAX |
3.571 |
4.378 |
7.141 |
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PROFIT AFTER TAX
|
7.404 |
7.924 |
9.843 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
72.929 |
186.467 |
172.658 |
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TOTAL EARNINGS |
72.929 |
186.467 |
172.658 |
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IMPORTS |
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Import Value |
17.105 |
162.893 |
39.016 |
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TOTAL IMPORTS |
17.105 |
162.893 |
39.016 |
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Earnings Per
Share (Rs.) |
0.77 |
90.63 |
-- |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
2.27
|
1.82 |
2.26
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Return on Total Assets (PBT/Total Assets} |
(%) |
4.52
|
3.19 |
7.29
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Return on Investment (ROI) (PBT/Networth) |
|
0.25
|
0.34 |
0.60
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Debt Equity Ratio (Total Liability/Networth) |
|
4.61
|
9.69 |
7.18
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Current Ratio (Current Asset/Current Liability) |
|
2.71
|
1.79 |
1.46
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LOCAL AGENCY FURTHER INFORMATION
Note:
The Register office of the company has been shifted from 2nd
Floor, Plaza Cinema Building, Connaught Place, New Delhi - 110 001, India
to present address w.e.f. 15.07.2009
It is in trade terms with:
·
Embassy of
·
Embassy of
·
Embassy of
·
·
Le Meridian Hotel (C J
International Hotel Limited),
·
Ship Store,
·
Inver House Distillers,
·
United Dutch Breweries,
·
Grolsch,
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Name of the company |
MOHAN BROTHERS PRIVATE LIMITED |
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Presented By |
Director |
|
1) Date and description of instrument creating the change |
Agreement of
Hypothecation of Goods, Book Debts to secure Cash Credit Facility dated
03.12.2005. |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.1.400 millions
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
1) Hypothecation
of present and future stocks of raw material, work in progress, finished
goods, consumable stores and spares belonging to borrower which now or hereafter
from time to time during the continuance of this agreement shall be brought
in, stored or to be brought in or about their premises or godown at Kirti
Nagar, New Delhi and Mumbai or any other godown including in transit. 2) All the
borrower’s present and future book debts, outstanding, money receivables,
claims, bills, contracts, engagements, securities, investments, rights and
other moveable assets. |
|
4) Gist of the terms and conditions and extent and operation of the charge. |
1) Interest @
2.00% over PLR with a minimum of 13.75% p.a. Margin – Stock – 25%. Book Debts
– 40% 2) Above is to
secure Adhoc Cash Credit (Hypothecation of Stocks) Limit of Rs.2.500
millions. |
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5) Name and Address and description of the person entitled to the charge. |
Punjab National
Bank, Okhla Industrial Estate, |
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6) Date and brief description of instrument modifying the charge |
Not Applicable |
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7) Particulars of modifications specifying the terms and conditions or the extent of operations of the charge in which modification is made and the details of the modification. |
Not Applicable |
|
This form is for |
Modification of
charge |
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Charge
identification number of the modified |
80025377 |
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Corporate identity
number of the company |
U74899DL1977PTC008507 |
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Name of the
company |
MOHAN BROTHERS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
2nd Floor, |
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Type of charge |
Book Debts Movable Property Others |
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Particular of
charge holder |
Punjab National Bank, NSIC Bhawan, Okhla Industrial
Estate, E-Mail: pnbokhla@rediffmail.com |
|
Nature of
description of the instrument creating or modifying the charge |
Agreement for
cash credit hypothecation of goods and book debts to secure cash credit and Agreement
of hypothecation of movable fixed assets |
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Date of
instrument Creating the charge |
13.09.2008 |
|
Amount secured by
the charge |
Rs. 112.500
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest:
Interest @ 15.50% p.a. Terms of
Repayment: On demand Margin: Margin –
25% Extent and
Operation of the charge: The charge operates as security as exclusive first
charge in favour of PNB Others: This is
to secure cash credit (Hypothecation and book debts) limit of Rs. 112.500
Millions |
|
Short particulars
of the property charged |
Hypothecation of
present and future stocks of raw material, work in progress, finished goods,
consumable stores and spares belonging to borrower which now or hereafter
from time to time during the continuance of this agreement shall be brought
in, stored or to be brought in or about their premises or godown at New Delhi
and Mumbai or any other godown including in transit and all book debts,
outstanding, money receivable, claims, bills, contracts, engagements,
securities, investments, rights and other moveable assets. |
|
Date of latest
modification prior to the present modification |
27.02.2007 |
FIXED ASSETS:
- Furniture and Fixtures
- Cars
- Computer
- Office Equipment
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.48.91 |
|
|
1 |
Rs.76.53 |
|
Euro |
1 |
Rs.66.43 |
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 |
5 |
|
--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 |
|
45 |
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.