MIRA
INFORM REPORT
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Report Date : |
14.02.2012 |
IDENTIFICATION DETAILS
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Name : |
RESOURCES INTERNATIONAL PRIVATE LIMITED |
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Registered
Office : |
Suite No. 1, 75, Link Road, Lajpat Nagar III, New Delhi – 110024 |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
02.08.1996 |
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Com. Reg. No.: |
55-080862 |
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Capital Investment
/ Paid-up Capital : |
Rs.15.049 Millions |
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CIN No.: [Company Identification
No.] |
U74140DL1996PTC080862 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Trader of Sea Food. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B (32) |
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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 130000 |
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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. Trade relations
are reported as fair. Business is active. Payments are reported to be slow. The company can be considered for business dealings with slight
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 – 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 : |
Suite No. 1, 75, Link Road, Lajpat Nagar III, New Delhi – 110024,
India |
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Tel. No.: |
91-11-29848130 / 41550394 / 5 / 6 / 51550393- 5 / 64646642-4/
41550394-5 |
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Fax No.: |
91-11-29848826 |
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E-Mail : |
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Website : |
www.freshfrozen.com |
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Location : |
Owned |
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Branch Office : |
Located at : Gurgaon |
DIRECTORS
As on 30.09.2011
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Name : |
Mr. Subhash Mittal |
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Designation : |
Director |
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Address : |
A-181, Nand Gram Meerut Road, Ghaziabad – 201001, Uttar Pradesh, India
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Date of Birth/Age : |
10.07.1958 |
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Date of Appointment : |
04.11.2010 |
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DIN No.: |
00360566 |
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Other Directorship :
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Name : |
Mr. Anil Budhiraja |
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Designation : |
Director |
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Address : |
1023, Sector- 29, Noida- 201301, |
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Date of Birth/Age : |
01.08.1963 |
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Date of Appointment : |
02.08.1996 |
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DIN No.: |
00360699 |
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Other Directorship :
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Name : |
Mr. Amal Dev |
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Designation : |
Director |
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Address : |
E -12, Jungpura Extension, Delhi- 110014, India |
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Date of Birth/Age : |
02.07.1982 |
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Date of Appointment : |
01.12.2002 |
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DIN No.: |
02461322 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
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Names of Shareholders |
No. of Shares |
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Anupam Dev |
13740 |
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Anil Budhiraja |
150 |
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Rakesh Banga |
100 |
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Anita Dev |
17500 |
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Amal Dev |
89000 |
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Mahesh Vashwani |
30000 |
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Total |
150490 |
Equity Share Break up (Percentage of Total Equity)
As on 30.09.2011
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Category |
Percentage |
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Directors or relatives of Directors |
80.00 |
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Other top fifty shareholders |
20.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Trader of Sea Food. |
GENERAL INFORMATION
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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
: |
-- |
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Auditors : |
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Name : |
Mahesh Chander and Company Chartered Accountants |
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Address : |
203, Barodia Tower, S-12, Central Market, Prashant Vihar, Delhi –
110085, India |
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Tel. No.: |
91-11-45027249 |
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PAN.: |
AAFPN5403K |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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200000 |
Equity Shares |
Rs.100/- each |
Rs.20.000 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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150490 |
Equity Shares |
Rs.100/-
each |
Rs.15.049
Millions |
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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 |
15.049 |
15.049 |
15.049 |
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2] Share Application Money |
11.700 |
11.700 |
2.200 |
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3] Reserves & Surplus |
7.750 |
5.044 |
4.443 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
34.499 |
31.793 |
21.692 |
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LOAN FUNDS |
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1] Secured Loans |
0.079 |
18.825 |
35.185 |
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2] Unsecured Loans |
1.575 |
3.475 |
3.475 |
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TOTAL BORROWING |
1.654 |
22.300 |
38.660 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.019 |
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TOTAL |
36.153 |
54.093 |
60.371 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
24.814 |
25.732 |
25.769 |
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Capital work-in-progress |
0.000 |
0.000 |
0.994 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.103 |
0.044 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
5.233
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18.369 |
22.192
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Sundry Debtors |
7.366
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13.440 |
9.292
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Cash & Bank Balances |
2.523
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0.851 |
1.932
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Other Current Assets |
1.696
|
1.946 |
8.030
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Loans & Advances |
0.000
|
0.108 |
0.714
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Total
Current Assets |
16.818
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34.714 |
42.160 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
5.802
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5.229 |
7.752 |
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Other Current Liabilities |
0.230
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2.663 |
1.230 |
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Provisions |
1.270
|
0.226 |
1.451
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Total
Current Liabilities |
7.302
|
8.118 |
10.433
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Net Current Assets |
9.516
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26.596 |
31.727
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MISCELLANEOUS EXPENSES |
1.720 |
1.721 |
1.881 |
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TOTAL |
36.153 |
54.093 |
60.371 |
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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 |
67.707 |
67.707 |
63.768 |
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Other Income |
NA |
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0.000 |
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TOTAL |
NA
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67.707 |
63.768 |
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TURNOVER |
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Less |
EXPENSES |
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63.176 |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
67.210 |
67.210 |
63.176 |
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PROFIT BEFORE
TAX |
3.919 |
0.497 |
0.592 |
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Less |
TAX |
1.270 |
0.334 |
0.499 |
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PROFIT AFTER TAX
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2.649 |
0.163 |
0.093 |
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Earnings Per
Share (Rs.) |
17.60 |
-- |
0.60 |
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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 |
(%) |
NA |
0.24 |
0.15 |
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Net Profit Margin (PBT/Sales) |
(%) |
5.78 |
NA |
0.93 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
9.41 |
0.82 |
0.87 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.11 |
0.02 |
0.03 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.26 |
0.96 |
2.26 |
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Current Ratio (Current Asset/Current Liability) |
|
2.30 |
4.28 |
4.04 |
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULTS
During the period under consideration, the company earned a net profit of
Rs.3.919 Millions before making provisions for taxes thereon. The Directors are
hopeful improvement in the performance of the company and are continuously
working in this direction with all effort.
FORM 8
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This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U74140DL1996PTC080862 |
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Name of the
company |
RESOURCES
INTERNATIONAL PRIVATE LIMITED |
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Address of the
registered office or of the principal place of business in |
Suite No. 1, 75, Link Road, Lajpat Nagar III, New Delhi – 110024,
India |
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Type of charge |
Book Debts Movable Property (not being
pledge) |
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Particular of
charge holder |
Canara Bank,
Lajpat Nagar Branch, A-14, DDA Shopping Centre, Defence Colony, New Delhi –
110024, India Email Id : mallyashenoyca@rediffmail.com |
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Nature of
description of the instrument creating or modifying the charge |
Cash Credit
Agreement and supplemental Collateral security Agreement |
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Date of instrument
Creating the charge |
12.06.2009 |
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Amount secured by
the charge |
Rs.4.000 Millions
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Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest The borrower shall
pay interest on outstanding in WCDL account at 1.25% p.a. over and above
ongoing BPLR rate with a minimum 13.25% p.a. with compounded monthly rests,
or at such other rates as may be specified by the bank from time to time Terms of
Repayment The WCDL loan
shall be repaid in 12 equal monthly installment of Rs.0.033 Million each from
12.07.2009 to 12.06.2010 Margin As applicable Extent and
Operation of the charge The hypothecated assets
is to secure WCDL loan of Rs.4.000 Millions granted by Canara Bank to the
company |
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Short particulars
of the property charged |
Hypothecation of
all the Stocks and Book-debts/ Receivables of the company both present and
future and Collaterally secured by all
types of machineries, tools, and accessories of the company etc. the above
hypothecated assets is to be stored/ installed at borrower's premises /
godown at Khasra No.11/21 and 22 Garhi Harsaru, Pataudi Raod, Gurgoan
(Haryana) and at all other places belonging to the company |
Fixed Assets
- Land
- Office Equipments
- Car
- Air Conditioner
- Scooter
- Furniture and Fixture
- Generators
- Computer
- Tata Trucks
- Shed
- Bio Gas Plant
- Feed Room
- Water Tank
- Aluminum Tub
- Slaughter House Plant
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.49.32 |
|
|
1 |
Rs.77.84 |
|
Euro |
1 |
Rs.65.35 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
4 |
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OPERATING SCALE |
1~10 |
4 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
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--LIQUIDITY |
1~10 |
4 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
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--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 |
|
MERIT POINTS |
|
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
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--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.