1. Summary Information
|
|
|
Country |
India |
|
Company Name |
Enar Weld-Braze Private Limited |
Principal Name 1 |
Mr. Rakesh Rehani |
|
Status |
Satisfactory |
Principal Name 2 |
Mrs. Nishi Rehani |
|
|
|
Registration # |
55-077679 |
|
Street Address |
E-164, East of Kailash, New Delhi – 110065, India |
||
|
Established Date |
29.03.1996 |
SIC Code |
-- |
|
Telephone# |
91-11-26432669/ 23737372 |
Business Style 1 |
Trading |
|
Fax # |
91-11-26414508 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Welding Materials |
|
|
# of employees |
Not Available |
Product Name 2 |
-- |
|
Paid up capital |
Rs.982,000/- |
Product Name 3 |
-- |
|
Shareholders |
Directors or relatives of directors -100% |
Banking |
HDFC
Bank Limited |
|
Public Limited Corp. |
No |
Business Period |
16 years |
|
IPO |
No |
International Ins. |
-- |
|
Public |
No |
Rating |
Ba
(45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
-- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
47,603,000 |
Current Liabilities |
22,734,000 |
|
Inventories |
12,854,000 |
Long-term Liabilities |
9,325,000 |
|
Fixed Assets |
901,000 |
Other Liabilities |
4,076,000 |
|
Deferred Assets |
111,000 |
Total Liabilities |
36,135,000 |
|
Invest& other Assets |
0,000 |
Retained Earnings |
24,352,000 |
|
|
|
Net Worth |
25,334,000 |
|
Total Assets |
61,469,000 |
Total Liab. & Equity |
61,469,000 |
|
Total Assets (Previous Year) |
42,783,000 |
|
|
|
P/L Statement as of |
31.03.2011 |
(Unit: Indian Rs.) |
|
|
Sales |
214,732,000 |
Net Profit |
6,853,000 |
|
Sales(Previous yr) |
135,943,000 |
Net Profit(Prev.yr) |
6,283,000 |
MIRA
INFORM REPORT
|
Report Date : |
21.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
ENAR WELD-BRAZE PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
E-164, East of Kailash, New Delhi – 110065, Delhi |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
29.03.1996 |
|
|
|
|
Com. Reg. No.: |
55-077679 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.0.982
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29299DL1996PTC077679 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELE01443B |
|
|
|
|
Legal Form : |
Private Limited Liability Company. |
|
|
|
|
Line of Business
: |
Trading of Welding Materials |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 100000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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) |
|
|
A1 |
A1 |
|
|
|
|
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
E-164, East Of Kailash, New Delhi-110065, Delhi, India |
|
Tel. No.: |
91-11-26432669/ 23737372 |
|
Fax No.: |
91-11-26414508 |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Corporate Office : |
Enar House, A-157, D.D.A. Industrial Sheds, Okhla Industrial Area Phase-II,
New Delhi-110020, Delhi, India |
|
Tel. No.: |
91-11-26383911/12 |
|
Fax No.: |
91-11-26383913 |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Rakesh Rehani |
|
Designation : |
Director |
|
Address : |
E-164, East of Kailash, New Delhi-110065, Delhi, India |
|
Date of Birth/Age : |
15.03.1957 |
|
Date of Appointment : |
29.03.1996 |
|
DIN No.: |
01053889 |
|
|
|
|
Name : |
Mrs. Nishi Rehani |
|
Designation : |
Director |
|
Address : |
E-164, East of Kailash, New Delhi-110065, Delhi, India |
|
Date of Birth/Age : |
26.05.1961 |
|
Date of Appointment : |
29.03.1996 |
|
DIN No.: |
01053869 |
|
|
|
|
Name : |
Mr. Madhur Bhashni Rehani |
|
Designation : |
Director |
|
Address : |
E-164, East of Kailash, New Delhi-110065, Delhi, India |
|
Date of Birth/Age : |
13.06.1931 |
|
Date of Appointment : |
29.03.1996 |
|
DIN No.: |
01053943 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
|
|
|
|
Rakesh Rehani |
|
59210 |
|
Nishi Rehani |
|
19510 |
|
Bhashni M Rehani |
|
19510 |
|
|
|
|
|
Total |
|
98230 |
AS ON 30.09.2011
Equity Shares Break – up
|
Category |
|
Percentage |
|
|
|
|
|
Directors or relatives of directors |
|
100.00 |
|
|
|
|
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trading of Welding Materials |
|
|
|
|
Products : |
·
ENAR – Silver Brazing Alloys ·
ENAR – Copper and Brass Brazing Alloys ·
ENAR – Silver / Brass Brazing Fluxes ·
ENAR – Gas Flux ·
ENAR - MIG Brazing Wires ·
ENAR - Aluminum / Silver Alloy Rings |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
· HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West),
Mumbai-400013, Maharashtra, India |
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R. Rastogi and Company Chartered Accountant |
|
Address : |
207-208, VAkil Chamber, A-115, Shakarpur, Delhi-110092, India |
|
Tel. No.: |
91-11-22509184/ 43545927 |
|
PAN No.: |
AEWPR1301K |
CAPITAL STRUCTURE
(AS ON 30.09.2011)
Authorised Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital:
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
98230 |
Equity Shares |
Rs.10/- each |
Rs.0.982
Million |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.982 |
0.982 |
0.982 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
24.352 |
17.499 |
11.234 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
25.334 |
18.481 |
12.216 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
(0.521)
|
(2.576)
|
3.015 |
|
|
2] Unsecured Loans |
9.846 |
6.265 |
6.015 |
|
|
TOTAL BORROWING |
9.325 |
3.689 |
9.030 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
34.659 |
22.170 |
21.246 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.901 |
0.583 |
0.768 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.111 |
0.094 |
0.087 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
12.854
|
9.598
|
0.000
|
|
|
Sundry Debtors |
35.574
|
23.885
|
31.380
|
|
|
Cash & Bank Balances |
8.750
|
5.779
|
2.312
|
|
|
Other Current Assets |
0.000
|
0.000
|
0.000
|
|
|
Loans & Advances |
3.279
|
2.844
|
2.455
|
|
Total
Current Assets |
60.457
|
42.106 |
36.147
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditor |
21.500
|
14.562
|
12.365
|
|
|
Other Current Liabilities |
1.234
|
0.961
|
0.716
|
|
|
Provisions |
4.076
|
5.090
|
2.675 |
|
Total
Current Liabilities |
26.810
|
20.613 |
15.756
|
|
|
Net Current Assets |
33.647
|
21.493 |
20.391
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
34.659 |
22.170 |
21.246 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
214.732 |
135.943 |
118.425 |
|
|
|
Other Income |
21.334 |
17.474 |
10.897 |
|
|
|
TOTAL |
236.066 |
153.417 |
129.322 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Net Trading Operation |
|
132.358 |
113.411 |
|
|
|
Personal Expenses |
|
2.576 |
1.751 |
|
|
|
Office and Administrative Expenses |
|
2.968 |
2.088 |
|
|
|
Selling and Distribution Expenses |
|
6.221 |
3.462 |
|
|
|
TOTAL |
226.070 |
144.123 |
120.712 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(Including
Depreciation) |
9.294 |
8.610 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
0.199 |
0.242 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
9.996 |
9.095 |
8.368 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
3.143 |
2.812 |
2.677 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
6.853 |
6.283 |
5.691 |
|
|
|
|
|
|
|
|
|
Less |
INCOME
TAX OF PREVIOUS YEARS |
NA |
0.017 |
0.034 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX TFD TO RESERVE AND SURPLUS |
NA |
6.266 |
5.657 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Traded Goods |
24.856 |
22.155 |
22.508 |
|
|
TOTAL IMPORTS |
24.856 |
22.155 |
22.508 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
69.77 |
63.78 |
57.93 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
2.90
|
4.10 |
4.40
|
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.66
|
6.69 |
7.07
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.29
|
21.31 |
22.67
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.39
|
0.49 |
0.69
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.43
|
1.31 |
2.03
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.26
|
2.04 |
2.29
|
LOCAL AGENCY FURTHER INFORMATION
FINANCIAL RESULTS
The company has earned a Net Profit before Tax of Rs. 9.996 Millions
against total sales of Rs 214.732 Millions. The sale and net profit before tax
is increased by 57.96% and 9.91% respectively as compared to previous year.
FORM 8
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10084480 |
|
Corporate
identity number of the company |
U29299DL1996PTC077679 |
|
Name of the
company |
Enar Weld-Braze
Private Limited |
|
Address of the
registered office or of the principal place of business in |
E-164, East of
Kailash, New Delhi-110065, India |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
HDFC Bank Limited, HDFC Bank House, Senapati Bapat Marg, Lower Parel (West),
Mumbai-400013, Maharashtra, India |
|
Nature of
description of the instrument creating or modifying the charge |
Supplementary
Letter of Hypothecation. |
|
Date of
instrument Creating the charge |
19.12.2011 |
|
Amount secured by
the charge |
Rs.10.000
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest Interest at the
rate as may be communicated by the Bank from time to time. Terms of
Repayment On Demand Margin As may be
stipulated by the Bank from Time to Time. Extent and
Operation of the charge Hypothecation by
way of First charge on Company’s Stock’s and Book Debts etc, as a continuing
security as mentioned in column No. 15 to secured below for the repayment of
Rs.10.000 Millions together with interests, costs, charged, expenses and
other moneys and payable by the company to the Bank. Others NIL |
|
Short particulars
of the property charged |
Stock in Trade,
consisting of raw materials, goods in process of manufacturing finished
goods, and other merchandise whatsoever being movable properties. All the debts,
that is, all the book debts, outstanding, monies receivables, claims, bills, invoice
documents, contracts, guarantees, and rights. |
|
Particulars of
the present modification |
The Charge shall
now stand increased from Rs.8.000 Millions to Rs. 10.000
Millions against the security of Stocks and Book Debts of the Company. |
FIXED ASSETS:
·
Office Equipments
·
Furniture And Fixtures
·
Vehicles
·
Computer
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.50.67 |
|
|
1 |
Rs.77.72 |
|
Euro |
1 |
Rs.64.63 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
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 |
NO |
|
--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.