MIRA
INFORM REPORT
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Report Date : |
04.04.2012 |
IDENTIFICATION DETAILS
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Name : |
EUROLUX FRAGRANCES PRIVATE LIMITED |
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Registered
Office : |
C-77, Mayapuri Industrial Area, Phase – II, New Delhi-110064 |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
30.06.2007 |
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Com. Reg. No.: |
55-165410 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U18204DL2007PTC165410 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELE04620A |
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PAN No.: [Permanent Account No.] |
AABCE7997G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Perfumes and Body Care Products. |
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No. of Employees
: |
7 [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 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 record.
Trade relations are fair. Business is active. Payments are reported to be
usually correct and as per commitments. The company can be considered normal 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
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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/ Factory : |
C-77, Mayapuri Industrial Area, Phase – II, New Delhi-110064, India |
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Mobile No.: |
91-9811334427 |
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E-Mail : |
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Website : |
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Locations : |
Rented |
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Corporate Office : |
Plot No.78, Sector 6, IMT Manesar, Gurgaon-122050, Haryana, India |
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Tel. No.: |
91-124-4368889/ 92 |
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Fax No.: |
91-124-4368885 |
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E-Mail : |
DIRECTORS
As on 30.09.2011
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Name : |
Mr. Sarabjit Kohli |
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Designation : |
Director |
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Address : |
C-2/20, DLF Phase – I, Gurgaon – 122001, |
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Date of Birth/Age : |
15.06.1976 |
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Date of Appointment : |
30.06.2007 |
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Din No.: |
01910867 |
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Name : |
Mr. Govinder Singh Kohli |
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Designation : |
Director |
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Address : |
C-2/20, DLF Phase – I, Gurgaon – 122001, |
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Date of Birth/Age : |
28.12.1944 |
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Date of Appointment : |
30.06.2007 |
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Din No.: |
01596085 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
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Names of Shareholders |
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No. of Shares |
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Sarabjit Kohli |
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5000 |
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Govinder Singh Kohli |
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5000 |
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Total |
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10000 |
As on 30.09.2011
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Perfumes and Body Care Products. |
GENERAL INFORMATION
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No. of Employees : |
7 [Approximately] |
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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 : |
K V V and Associates Chartered Accountant |
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Address : |
253/B-1, 1st Floor, Rama Market, Munirka, New Delhi-110067,
India |
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Pan No.: |
AAGPV4400M |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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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 |
8.345 |
4.553 |
1.050 |
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4] (Accumulated Losses) |
0.00 |
0.000 |
0.000 |
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NETWORTH |
8.445 |
4.653 |
1.150 |
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LOAN FUNDS |
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1] Secured Loans |
10.327 |
0.802 |
0.982 |
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2] Unsecured Loans |
4.140 |
4.140 |
5.999 |
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TOTAL BORROWING |
14.467 |
4.942 |
6.981 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.074 |
0.064 |
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TOTAL |
22.912 |
9.669 |
8.195 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
10.595 |
6.877 |
7.161 |
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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 |
0.040 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
13.134
|
10.262
|
8.461 |
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Sundry Debtors |
19.826
|
4.352
|
1.815 |
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Cash & Bank Balances |
6.108
|
2.823
|
1.376 |
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Other Current Assets |
0.000
|
0.000
|
0.000 |
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Loans & Advances |
14.367
|
6.882
|
1.505 |
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Total
Current Assets |
53.435
|
24.319
|
13.157 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
|
17.845
|
9.961 |
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Other Current Liabilities |
37.162
|
1.692
|
1.535 |
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Provisions |
4.000
|
2.000
|
0.641 |
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Total
Current Liabilities |
41.162
|
21.537
|
12.137 |
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Net Current Assets |
12.273
|
2.782
|
1.020 |
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MISCELLANEOUS EXPENSES |
0.004 |
0.010 |
0.014 |
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TOTAL |
22.912 |
9.669 |
8.195 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
104.700 |
101.200 |
44.400 |
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Other Income |
2.614 |
3.477 |
2.909 |
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TOTAL |
107.314 |
104.677 |
47.309 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
101.636 |
99.188 |
44.900 |
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Advertising Expenses |
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TOTAL |
101.636 |
99.188 |
44.900 |
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PROFIT BEFORE
TAX |
5.678 |
5.489 |
2.409 |
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Less |
TAX |
(2.667) |
2.001 |
1.359 |
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PROFIT AFTER TAX
|
8.345 |
3.488 |
1.050 |
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EARNINGS IN
FOREIGN CURRENCY |
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Export Earnings |
NA |
92.477 |
44.370 |
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Earnings Per
Share (Rs.) |
367.78 |
348.85 |
188.38 |
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KEY RATIOS
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PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
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PAT / Total Income |
(%) |
7.78
|
3.33 |
2.22 |
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Net Profit Margin (PBT/Sales) |
(%) |
5.42
|
5.42 |
5.43 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
8.87
|
17.60 |
11.86 |
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Return on Investment (ROI) (PBT/Networth) |
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0.67
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1.18 |
2.09 |
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Debt Equity Ratio (Total Liability/Networth) |
|
6.59
|
5.69 |
16.62 |
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Current Ratio (Current Asset/Current Liability) |
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1.30
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1.13 |
1.08 |
LOCAL AGENCY FURTHER INFORMATION
WORKING RESULTS:
During the financial year, the company achieved export turnover of
Rs.104.700 millions previous year Rs.101.200 millions and earned net profit of
Rs.5.678 millions previous year Rs.5.488 millions. The directors are making
efforts to achieve best results in the subsequent years.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U18204DL2007PTC165410 |
|
Name of the
company |
EUROLUX
FRAGRANCES PRIVATE LIMITED |
|
Address of the registered
office or of the principal place of
business in |
C-77, Mayapuri Industrial Area, Phase – II, New Delhi-110064, India |
|
Type of charge |
Immovable
Property Movable Property
[not being pledge] Floating Charge |
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Particular of
charge holder |
Indian Overseas Bank, IOB Palika Bhawan, Sector 13, R K Puram, New
Delhi-110066, India Email: rkpubr@delscoiobnet.co.in |
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Nature of
description of the instrument creating or modifying the charge |
Credit Sanction
Advice, Form F-110E towards Letter of Hypothecation for securing
Machineries/Goods/Book Debts, Form F-16,F-286 securing documents of title to
goods/accepted Hundies, Agreements, Letter for deposits of Title Deed of immovable
property. |
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Date of
instrument Creating the charge |
05.11.2009 |
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Amount secured by
the charge |
Rs.20.500
Millions |
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Packing credit
and FDDBP/FDUBD (bills):- BPLR minus 3% per annum with minimum 9% per annum ,
term loan :- BPLR minus 3% per annum with minimum of 10.5% per annum. Terms of
Repayment 1). Term loan is
to be repaid in 48 monthly installments of Rs. 77540/- from January 2010 or
from 4th month of the date of disbursement, whichever is earlier (with
holiday period of 3 months).holiday period interest is to be served every
month by borrower. 2). Other loans:
monthly interest will be served as and when debited to the account of
borrower. 3). Penal
interest at the rate of 2% over and above the normal rate on the amount
outstanding for default with the terms and conditions. Margin Packing Credit :-
25%, Term Loan :- 25%, Bills :- 15% Extent and Operation
of the charge Hypothecation of
stock/goods and equitable mortgage of residential property at H-404, Ambience
Lagoon, NH-8, Nathupur, Gurgaon, Haryana, measuring super area approx.3156 sq
ft. In the name of director Mr. Govinder Singh Kohli and his wife Mrs. Surjit
Kaur Kohli, in Gurgaon. Others Personal
guarantee of the director Mr. Sarabjit Kohli, Govinder Singh Kohli and mrs.
Surjit kaur kohli. |
|
Short particulars
of the property charged |
Conveyance deed
no. 10374 dated 04.11.2003 executed by m/s ambience infrastructure private
limited for residential flat no. H-404, Ambience Lagoon, NH-8 Nathupur
Gurgaon, Haryana. |
FIXED ASSETS:
- Plant and Machinery
- Furniture and Fixture
- 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 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.50.56 |
|
|
1 |
Rs.81.05 |
|
Euro |
1 |
Rs.67.49 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
5 |
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--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
|
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
NO |
|
--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.