MIRA
INFORM REPORT
|
Report Date : |
23.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
B.S. MEHRA SONS PRIVATE LIMITED |
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Registered
Office : |
A-71, Kamla Nagar, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
08.03.1982 |
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Com. Reg. No.: |
55-013253 |
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Capital
Investment / Paid-up Capital : |
Rs.1.800
millions |
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CIN No.: [Company Identification
No.] |
U74899DL1982PTC013253 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Exporters of all kinds of chemicals like carbon tetra chloride,
chloroform, methylene chloride, trichloroethylene, perchloroethylene,
glycerine etc. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 67000 |
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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 – September 30, 2011
|
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 : |
A-71, Kamla Nagar, |
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Tel. No.: |
91-11-23559070/ 23843345/ 23843355 |
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Fax No.: |
91-11-23675377/ 23843333 |
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E-Mail : |
DIRECTORS
As on 30.09.2011
|
Name : |
Mr. Arun Mehra |
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Designation : |
Managing Director |
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Address : |
B-1/14, Ashok Vihar, Phase - II, |
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Date of Birth/Age : |
29.08.1957 |
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Date of Appointment : |
08.03.1982 |
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DIN No.: |
00240370 |
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Name : |
Ashwani Mehra |
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Designation : |
Director |
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Address : |
B-1/14, Ashok Vihar, Phase - II, |
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Date of Birth/Age : |
05.09.1959 |
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Date of Appointment : |
08.03.1982 |
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DIN No.: |
00240394 |
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Name : |
Mr. Pankaj Mehra |
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Designation : |
Director |
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Address : |
B-1/14, Ashok Vihar, Phase - II, |
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Date of Birth/Age : |
12.03.1961 |
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Date of Appointment : |
08.03.1992 |
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DIN No.: |
00240415 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Mehra Swaroop Bishan |
|
35000 |
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Mehra Arun |
|
20000 |
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Mehra Ashwani |
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20000 |
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Mehra Pankaj |
|
1000 |
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Mehra Shakuntala |
|
25000 |
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Mehra Sanhita |
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20000 |
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Mehra Rajni |
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20000 |
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Mehra Nishant |
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10000 |
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Mehra Siddhesh |
|
9000 |
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Mehra Raghav |
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10000 |
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Mehra Abhishek |
|
10000 |
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Total |
|
180000 |
As on 30.09.2011
|
Equity Share Breakup |
|
Percentage of Holding |
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Category |
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Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Exporters of all kinds of chemicals like carbon tetra chloride,
chloroform, methylene chloride, trichloroethylene, perchloroethylene,
glycerine etc. |
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Products : |
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GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
v Axis Bank
Limited, Ground Floor, Matharu Arcade, Plot No.32, Subhash Road, Ville Parle
(East), Mumbai, Mumbai – 400 057, Maharashtra, India v Axis Bank
Limited, Credit Management Centre, Unit No.6, Corporate Park, Chembur, Mumbai
– 400 071, v Union Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Krishan K. Gupta and Company Chartered Accountants |
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Address : |
1/3-10196, Jhandewalan, |
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Tel. No.: |
91-11-23678214, 23520387, 23559070 |
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Fax No.: |
91-11-23675377 |
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E-Mail : |
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Income-tax
PAN of auditor or auditor's firm : |
AACPG6006E |
CAPITAL STRUCTURE
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
500000 |
Equity Shares |
Rs.10/- each |
Rs.5.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
180000 |
Equity Shares |
Rs.10/- each |
Rs.1.800
millions |
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|
(Includes 90000 Equity
Shares Allotted as fully paidup Bonus Shares by Capitalization of Reserves of
Rs.10/- each)
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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|
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1] Share Capital |
1.800 |
1.800 |
1.800 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
14.854 |
13.826 |
13.837 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
16.654 |
15.626 |
15.637 |
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LOAN FUNDS |
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1] Secured Loans |
38.372 |
30.025 |
9.121 |
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2] Unsecured Loans |
1.976 |
0.856 |
0.765 |
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TOTAL BORROWING |
40.348 |
30.881 |
9.886 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
57.002 |
46.507 |
25.523 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
4.235 |
4.725 |
3.895 |
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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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DEFERRED TAX ASSETS |
0.040 |
0.054 |
0.069 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
8.827
|
6.733 |
6.198 |
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Sundry Debtors |
59.515
|
47.446 |
28.131 |
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Cash & Bank Balances |
3.543
|
4.797 |
2.417 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
2.293
|
1.876 |
2.655 |
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Total
Current Assets |
74.178
|
60.852 |
39.401 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
17.905
|
17.152 |
15.613 |
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Other Current Liabilities & Provisions |
3.598
|
2.042 |
2.229 |
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Total
Current Liabilities |
21.503
|
19.194 |
17.842 |
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Net Current Assets |
52.675
|
41.658 |
21.559 |
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MISCELLANEOUS EXPENSES |
0.052 |
0.070 |
0.000 |
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TOTAL |
57.002 |
46.507 |
25.523 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
250.900 |
172.800 |
132.400 |
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Other Income |
1.924 |
1.837 |
1.666 |
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TOTAL (A) |
252.824 |
174.637 |
134.066 |
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Less |
EXPENSES |
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|
249.751 |
172.514 |
132.781 |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL (B) |
249.751 |
172.514 |
132.781 |
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PROFIT BEFORE
TAX (E-F) (G) |
3.073 |
2.123 |
1.285 |
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Less |
TAX (H) |
0.995 |
0.660 |
0.628 |
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PROFIT AFTER TAX
(G-H) (I) |
2.078 |
1.463 |
0.658 |
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Earnings Per
Share (Rs.) |
11.54 |
8.13 |
3.65 |
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KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.82
|
0.84 |
0.49 |
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Net Profit Margin (PBT/Sales) |
(%) |
1.22
|
1.23 |
0.97 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.92
|
3.24 |
2.97 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.14 |
0.08 |
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Debt Equity Ratio (Total Liability/Networth) |
|
3.71
|
3.20 |
1.77 |
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Current Ratio (Current Asset/Current Liability) |
|
3.45
|
3.17 |
2.21 |
LOCAL AGENCY FURTHER INFORMATION
OPERATIONS AND FINANCIAL RESULTS:
The Profit and Loss
Account shows a net profit of Rs.3.073 millions for the year as against a net
profit of Rs.2.123 millions in the immediate preceding year. The directors wish
to inform the members that inspite of tough competition and opening of retail
depots in the market, they have been able to sustain the turnover of the
company and there is a considerable increase in the turnover of the company,
which has gone up to Rs.250.900 millions as against Rs.172.800 millions in the
immediate preceding year, but the profit margins have decreased. The directors
are hopeful in view of their best efforts to have better results in the near
future. The members that 50% final dividend has been proposed during the year.
FORM 8:
|
Corporate
identity number of the company |
U74899DL1982PTC013253 |
|
Name of the
company |
B.S. MEHRA SONS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
A-71, Kamla Nagar, E-Mail: speedex3@vsnl.com |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
80042849 |
|
Type of charge |
Book Debts Movable Property
(Not being pledge) Others (Current Assets)
|
|
Particular of
charge holder |
Axis Bank
Limited, Credit Management Centre, Unit No.6, Corporate Park, Chembur, Mumbai
– 400 071, E-Mail: adlalwani@rediffmail.com |
|
Nature of description
of the instrument creating or modifying the charge |
1. Supplemental
Deed of Hypothecation |
|
Date of
instrument Creating the charge |
14.12.2009 |
|
Amount secured by
the charge |
Rs.15.000
millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest: 2.50% below BPLR
i.e. presently 12.25% at monthly rest or as stipulated by Bank from time to
time Terms of
Repayment: On demand or as
stipulated by Bank from time to time Margin: 5% on stock and
receivables or as stipulated by Bank from time to time Extent and
Operation of the charge: First Charge
(present and future) - Total Cash Credit = Rs.15.000 millions (Sub Limit to
Cash Credit = Letter of Credit Rs.1.000 million) Others: As stipulated by
Bank from time to time |
|
Short particulars
of the property charged |
First Charge
(present and future)-hypothecation of all stock/goods/inventories kept at
borrower place or in transit or whereeverelse Hypothecation of all
book debts and receivables Hypothecation of
all current and movable assets of the company |
|
Particulars of
the present modification |
By this modification limit enhanced to cash credit = Rs.15.000 millions (sub limit
to cash credit = letter of credit Rs.1.000 million), securities are continued
as given by original charge as well as by modifications, terms and conditions
as per agreement, terms and conditions as per agreement and as per sanction
letter of the Bank. |
FIXED ASSETS:
v
Air Conditioners
v
Building (Industrial Plot, Okhla)
v
C.C.T.V.
v
Computer
v
Fax Machine
v
Furniture & Fixtures
v
Generator
v
Godown at Antop Hill, Mumbai
v
Industrial Plot, Okhla
v
Land at
v
v
Motor Car/Scooter
v
Office Equipment
v
Tempo
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.49.25 |
|
|
1 |
Rs.76.75 |
|
Euro |
1 |
Rs.65.16 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
44 |
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.