MIRA INFORM REPORT
|
Report Date : |
28.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
ENARAYAN ELEX INDIA PRIVATE LIMITED |
|
|
|
|
Formerly Known
As : |
NARAYAN ELECTRICALS |
|
|
|
|
Registered
Office : |
5-2-130/131A |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
02.06.2008 |
|
|
|
|
Com. Reg. No.: |
01-059468 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs 27.062 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74999AP2008PTC059468 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
HYDE01748F |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCE0195K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Channel Partners and Distributors of Cables, Lighting, Switchgears,
Motors, Instrumentation and Electronic Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 280000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record.
There appear huge external borrowings recorded by the company. However, trade terms are reported as fair. Business is active.
Payments terms are reported as slow but correct. The company can be considered for business dealings with some caution. |
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classifpication |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
LOCATIONS
|
Registered Office : |
5-2-130/131A |
|
Tel. No.: |
91-40-66768696 |
|
Fax No.: |
91-40-66768697 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
203 TSK Chambers, |
|
Tel. No.: |
91-40-66768696 |
|
Mobile No.: |
91-9848021320 (Mr. Bhavesh Ghia) 91-9912348589 (Mr. Chetan Ghia) |
|
E-Mail : |
DIRECTORS
AS ON 30.09.2012
|
Name : |
Mr. Bhavesh Jayantilal Ghia |
|
Designation : |
Director |
|
Address : |
404, Amar Apartment6, |
|
Date of Birth : |
17.09.1972 |
|
Date of Appointment : |
30.11.2009 |
|
DIN No.: |
02067421 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U74999AP2008PTC059468 |
eNARAYAN ELEX
INDIA PRIVATE LIMITED |
Director |
30/11/2009 |
01/07/2008 |
- |
Active |
NO |
|
Name : |
Mr. Dinesh Manilal Ghia |
|
Designation : |
Director |
|
Address : |
806, Srinath Complex, |
|
Date of Birth : |
24.11.1947 |
|
Date of Appointment : |
30.11.2009 |
|
DIN No.: |
02067477 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U74999AP2008PTC059468 |
eNARAYAN ELEX
INDIA PRIVATE LIMITED |
Director |
30/11/2009 |
01/08/2008 |
- |
Active |
NO |
|
Name : |
Mr. Chetan Jayantilal Ghia |
|
Designation : |
Director |
|
Address : |
1-8-142/143, Bapubagh Colony, |
|
Date of Birth : |
13.12.1975 |
|
Date of Appointment : |
30.11.2009 |
|
DIN No.: |
02186826 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U74999AP2008PTC059468 |
eNARAYAN ELEX INDIA
PRIVATE LIMITED |
Director |
30/11/2009 |
01/07/2008 |
- |
Active |
NO |
MAJOR SHAREHOLDERS
Shareholder
details are not available
AS ON 30.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Directors or relatives of Directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Channel Partners and Distributors of Cables, Lighting, Switchgears,
Motors, Instrumentation and Electronic Products. |
|
|
|
|
Products : |
·
Cable and Cable Accessories ·
Control Panel Accessories ·
Electronic Products ·
Instrumentation ·
Lighting and Fans ·
Switchgears |
GENERAL INFORMATION
|
Customers : |
Pharma Industries
Cement
Industries
State &
Central Govt. Sector
Private Sector ·
Icomm Tele Limited ·
IVRCL Infrastructures Limited ·
·
Naseer Electricals ·
Ramoji Filmcity ·
TATA Projects Limited
|
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No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sudhakar and Company Chartered Accountant |
|
Address : |
5-2-134, |
|
PAN No.: |
ADFPK5519A |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
27.026 |
23.526 |
23.176 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
26.041 |
17.035 |
7.835 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
5] Money received against share warrants |
18.527 |
18.527 |
11.875 |
|
|
NETWORTH |
71.594 |
59.088 |
42.886 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.250 |
|
|
2] Unsecured Loans |
4.996 |
10.504 |
6.835 |
|
|
TOTAL BORROWING |
4.996 |
10.504 |
7.085 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
76.590 |
69.592 |
49.971 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
5.219 |
3.307 |
3.092 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.551 |
0.207 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
42.263
|
42.155 |
18.972 |
|
|
Sundry Debtors |
90.567
|
91.794 |
54.181 |
|
|
Cash & Bank Balances |
8.360
|
13.519 |
8.574 |
|
|
Other Current Assets |
0.059
|
0.119 |
0.514 |
|
|
Loans & Advances |
0.695
|
0.851 |
2.000 |
|
Total
Current Assets |
141.944
|
148.438 |
84.241 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
68.849
|
78.984 |
|
|
|
Other Current Liabilities |
0.000
|
0.000 |
|
|
|
Provisions |
2.275
|
3.376 |
|
|
Total
Current Liabilities |
71.124
|
82.360 |
37.540 |
|
|
Net Current Assets |
70.820
|
66.078 |
46.701 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.178 |
|
|
|
|
|
|
|
|
TOTAL |
76.590 |
69.592 |
49.971 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
472.464 |
377.472 |
262.827 |
|
|
|
Other Income |
8.249 |
6.325 |
4.289 |
|
|
|
TOTAL (A) |
480.713 |
383.797 |
267.116 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
463.055 |
369.337 |
255.949 |
|
|
|
|
|
|
|
|
Less |
PROFIT
/ (LOSS) BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
17.658 |
14.460 |
11.167 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
1.920 |
0.861 |
0.957 |
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
15.738 |
13.599 |
10.210 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.233 |
0.899 |
1.068 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX (E-F) (G) |
14.505 |
12.700 |
9.142 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
5.500 |
3.500 |
3.500 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX (G-H) (I) |
9.005 |
9.200 |
5.642 |
|
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.87
|
2.40 |
1.31 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.07
|
3.36 |
3.88 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
9.86
|
7.99 |
10.47 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.21 |
0.13 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.06
|
1.57 |
1.04 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.99
|
1.80 |
2.24 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in
Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
No |
|
8] |
No. of employees |
No |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
Yes |
|
13] |
Reasons for variation
<> 20% |
----- |
|
14] |
Estimation for coming
financial year |
No |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister
concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
No |
|
20] |
Export / Import details
(if applicable) |
No |
|
21] |
Market information |
----- |
|
22] |
Litigations that the firm
/ promoter involved in |
----- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
Yes |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
Yes |
|
29] |
Last accounts filed at
ROC |
Yes |
|
30] |
Major Shareholders, if
available |
Yes |
|
31] |
Date of Birth of
Proprietor/Partner/Director, if available |
Yes |
|
32] |
PAN of Proprietor/Partner/Director,
if available |
Yes |
|
33] |
Voter ID No of
Proprietor/Partner/Director, if available |
No |
|
34] |
External Agency Rating,
if available |
No |
FORM 8
|
Corporate
identity number of the company |
U74999AP2008PTC059468 |
|
Name of the
company |
eNARAYAN ELEX
INDIA PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
5-2-130/131A |
|
This form is for |
Creation of
charge |
|
Type of charge |
Movable property
(not being pledge) |
|
Particular of
charge holder |
HDFC BANK
LIMITED, HDFC Bank Housesenapati Bapat Marg, Lower Parel - West, MUMBAI –
400013, |
|
Nature of instrument
creating charge |
Agreement for
Auto Loan |
|
Date of
instrument Creating the charge |
27.04.2009 |
|
Amount secured by
the charge |
Rs. 0.359
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Interest @ 11.84
% p.a. Terms of repayment The loan is
repayable in 36 monthly installments of Rs. 0.012 Million Margin Nil Extent and operation of the charge The Company hypothecates
to and charges in favour of the Bank by way of first and exclusive charge of
the Vehicle/ equipment described in Item No. 14 as security for the
repayment/payment by the company of the loan granted or to be granted to the
company by the Bank together with all
fees, interest, costs and expenses incurred/to be incurred by the Bank and
all other monies payable or to become payable by the company to the Bank. Other The Bank shall be
absolutely entitled and have full power and authority to sell, assign or
transfer in any manner, in whole or in part, and in such manner and on such
terms as the Bank may decide, including reserving a right to the Bank to
retain its power to proceed against the company on behalf of the purchaser,
assignee or transferee, any or all outstanding dues of the company, to any
third party of the Bank's choice without reference to or without written
intimation to the company. |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
New Vehicle
Purchased by the Company IA NA MAGANA
- HYUNDAI MAKE No G4LAM09M093320 |
FIXED ASSETS
- Air
Conditioner
- Batteries
- Car
- Computers
- Cell Phone
- Furniture
- Office
Equipments
- Scooter
- Software
Expenses
- Cranes
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 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.54.85 |
|
|
1 |
Rs.88.40 |
|
Euro |
1 |
Rs.72.63 |
INFORMATION DETAILS
|
|
|
|
Report Prepared
by : |
HET |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
|
32 |
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.