MIRA
INFORM REPORT
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Report Date : |
13.04.2012 |
IDENTIFICATION DETAILS
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Name : |
MEHRA WAX PRODUCTS PRIVATE LIMITED |
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Registered
Office : |
Plot No. 9, Street No. 5, Maqbool Pura, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
11.03.2008 |
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Com. Reg. No.: |
16-031758 |
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Capital Investment
/ Paid-up Capital : |
Rs.1.000 Million |
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CIN No.: [Company Identification
No.] |
U24242PB2008PTC031758 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
AMRM12795G |
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PAN No.: [Permanent Account No.] |
AAFCM4699D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Wax Products. |
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No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (28) |
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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 8000 |
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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 be 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 caution.
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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 |
INFORMATION PARTED BY
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Name : |
Mr. Pankaj |
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Designation : |
Director |
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Contact No.: |
91-9888877000 |
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Date : |
03.04.2012 |
LOCATIONS
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Registered Office : |
Plot No. 9, Street No. 5, Maqbool Pura, Amritsar – 143001, Punjab,
India |
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Tel. No.: |
91-183-5064638 |
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Mobile No.: |
91-9888877000 (Mr. Pankaj) |
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Fax No.: |
91-183-5009280 |
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E-Mail : |
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Website : |
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Location : |
Owned |
DIRECTORS
As on 29.09.2011
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Name : |
Mr. Pankaj Mehra |
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Designation : |
Director |
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Address : |
12, Medical Enclave, Opposite Park No. 1, Amritsar, Punjab, India |
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Date of Birth/Age : |
42 Years |
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Qualification : |
Graduate |
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Date of Appointment : |
11.03.2008 |
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DIN No.: |
02079137 |
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Name : |
Mr. Ravi Mehra |
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Designation : |
Director |
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Address : |
25, Phase No. 3, Beauty Avenue, Amritsar, Punjab, India |
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Date of Birth/Age : |
38 Years |
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Qualification : |
Graduate |
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Date of Appointment : |
11.03.2008 |
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DIN No.: |
02079138 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2011
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Names of Shareholders |
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No. of Shares |
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Pankaj Mehra |
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20000 |
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Ravi Mehra |
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20000 |
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Parshotam Dass |
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24000 |
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Pran Nath |
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24000 |
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Shukla Mehra |
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6000 |
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Rama Mehra |
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6000 |
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Total |
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100000 |
Equity Share Break up (Percentage of Total Equity)
As on 29.09.2011
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Wax Products. |
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Products : |
· Wax Rolls · Wax Rods · Wax Bars · Wax Discs · Fancy Candles |
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Exports : |
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Products : |
Wax Products |
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Countries : |
·
Nepal ·
Bangladesh ·
Pakistan |
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Imports : |
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Products : |
Raw Material |
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Countries : |
China |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
L/C |
GENERAL INFORMATION
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Customers : |
Manufacturer |
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No. of Employees : |
50 (Approximately) |
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Bankers : |
Bank of India, Mall Road, Amritsar – 143001, Punjab, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Ahuja Sethi Vansil and Associates Chartered Accountants |
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Address : |
28-New Bhagat Singh Market, Near Bus Stand, Amritsar – 143001, Punjab,
India |
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PAN.: |
AFDPS9037B |
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Associates/Subsidiaries : |
Janta Industries |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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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 |
1.000 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.900 |
0.900 |
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3] Reserves & Surplus |
1.025 |
0.075 |
0.051 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2.025 |
1.075 |
1.051 |
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LOAN FUNDS |
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1] Secured Loans |
6.228 |
0.000 |
0.000 |
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2] Unsecured Loans |
4.071 |
0.977 |
0.154 |
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TOTAL BORROWING |
10.299 |
0.977 |
0.154 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
12.324 |
2.052 |
1.205 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.702 |
0.343 |
0.364 |
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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 |
2.808
|
0.579 |
0.529 |
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Sundry Debtors |
9.750
|
4.605 |
0.718 |
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Cash & Bank Balances |
1.137
|
0.819 |
0.147 |
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Other Current Assets |
0.672
|
0.672 |
0.065 |
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Loans & Advances |
0.000
|
0.000 |
0.000 |
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Total
Current Assets |
14.367
|
6.675 |
1.459 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
3.997
|
4.452 |
0.476 |
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Other Current Liabilities |
0.000
|
0.000 |
0.003 |
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Provisions |
0.756
|
0.529 |
0.161 |
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Total
Current Liabilities |
4.753
|
4.981 |
0.640 |
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Net Current Assets |
9.614
|
1.694 |
0.819 |
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MISCELLANEOUS EXPENSES |
0.008 |
0.015 |
0.022 |
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TOTAL |
12.324 |
2.052 |
1.205 |
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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 |
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13.865 |
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Other Income |
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|
0.000 |
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TOTAL |
36.453 |
18.441 |
13.865 |
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Less |
EXPENSES |
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Increase/ Decrease in Stock |
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0.276 |
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Purchases |
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9.676 |
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Direct Expenses |
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|
2.424 |
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Payment to Employees |
36.369 |
18.407 |
0.060 |
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Other Indirect Expenses |
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1.305 |
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Preliminary expenses written off |
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|
0.008 |
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TOTAL |
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13.749 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
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|
0.116 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
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0.047 |
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PROFIT BEFORE
TAX |
0.084 |
0.034 |
0.069 |
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Less |
TAX |
0.034 |
0.010 |
0.028 |
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PROFIT AFTER TAX
|
0.050 |
0.024 |
0.041 |
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Earnings Per
Share (Rs.) |
0.05 |
0.04 |
NA |
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Particulars |
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31.03.2012 |
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Sales Turnover (Approximately) |
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45.000 |
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The above information has been parted by Mr. Pankaj.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.14
|
0.13 |
0.29 |
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Net Profit Margin (PBT/Sales) |
(%) |
NA
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NA |
0.50 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
0.49
|
0.48 |
3.78 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.03 |
0.06 |
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Debt Equity Ratio (Total Liability/Networth) |
|
7.43
|
5.54 |
0.76 |
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Current Ratio (Current Asset/Current Liability) |
|
3.02
|
1.34 |
2.27 |
LOCAL AGENCY FURTHER INFORMATION
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Check List by Info Agents |
Available in Report (Yes / No) |
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1) Year of Establishment |
Yes |
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2) Locality of the firm |
Yes |
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3) Constitutions of the firm |
Yes |
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4) Premises details |
No |
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5) Type of Business |
Yes |
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6) Line of Business |
Yes |
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7) Promoter’s background |
-- |
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8) No. of employees |
Yes |
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9) Name of person contacted |
Yes |
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10) Designation of contact person |
Yes |
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11) Turnover of firm for last three years |
Yes |
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12) Profitability for last three years |
Yes |
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13) Reasons for variation <> 20% |
-- |
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14) Estimation for coming financial year |
No |
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15) Capital in the business |
Yes |
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16) Details of sister concerns |
Yes |
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17) Major suppliers |
No |
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18) Major customers |
No |
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19) Payments terms |
Yes |
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20) Export / Import details (if applicable) |
Yes |
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21) Market information |
-- |
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22) Litigations that the firm / promoter |
-- |
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23) Banking Details |
Yes |
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24) Banking facility details |
Yes |
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25) Conduct of the banking account |
-- |
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26) Buyer visit details |
-- |
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27) Financials, if provided |
Yes |
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28) Incorporation details, if applicable |
Yes |
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29) Last accounts filed at ROC |
Yes |
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30) Major Shareholders, if available |
Yes |
OPERATIONS AND
OVERALL PERFORMANCE
The overall operations and performance of the Company was satisfactory.
There was rise in the turnover and the directors of the company are optimistic
that results shall improve in the coming years.
Bankers Charges
Report as per Registry
|
Corporate identity
number of the company |
U24242PB2008PTC031758 |
|
Name of the
company |
MEHRA WAX
PRODUCTS PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
Plot No.9, Street
No.5, Maqbool Pura, Amritsar-143001, Punjab, India Email : krishi.2003@gmail.com
|
|
This form is for |
Creation of
charge |
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Type of charge |
Book Debts Movable Property |
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Particular of
charge holder |
Bank of India,
Mall Road, Amritsar-143001, Punjab, India Email : krishi.2003@gmail.com |
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Nature of
instrument creating charge |
Agreement of Term
Loan and Hypothecation of Movable Assets/ Goods/ Property/ Plant and
Machinery |
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Date of
instrument Creating the charge |
17.02.2011 |
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Amount secured by
the charge |
Rs.2.300 Millions |
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Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of Interest 14% p.a to be charged monthly and subject to
change from time to time Terms of
Repayment Repayable in 60
monthly Installments Rs.0.053 Million w.e.f May 2011 Margin As per Bank Norms Extent and
Operation of the charge 100% |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Machinery Work in Process Finished Wax
Rolls Book Debts. Other related Materials
lying at Borrower's Factory Godown and In transit. Stocks of Raw
Material in particular Raw Wax. |
FIXED ASSETS
·
Machinery
·
Computer
·
Electric Appliances and
Fitting
·
Furniture
·
Camera and PBX Equipment
·
Air-Conditioner
·
Vehicles
·
Generator
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.51.44 |
|
|
1 |
Rs.81.96 |
|
Euro |
1 |
Rs.67.61 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
28 |
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.