MIRA INFORM REPORT

 

 

Report Date :

21.01.2012

 

IDENTIFICATION DETAILS

 

Name :

HEMA CONNOISSEUR COLLECTIONS PRIVATE LIMITED

 

 

Formerly Known As :

HEMA SYSTEMS PRIVATE LIMITED

 

 

Registered Office :

A-1/22, Safdarjung Enclave, New Delhi – 110029

 

 

Country :

India

 

 

Financials (as on) :

31.03.2011

 

 

Date of Incorporation :

03.07.2001

 

 

Com. Reg. No.:

55-111489

 

 

Capital Investment / Paid-up Capital :

Rs.0.100 Million

 

 

CIN No.:

[Company Identification No.]

U72200DL2001PTC111489

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trader and Importer of Wine, Liker, Whisky, Scotch etc.

 

 

No. of Employees :

15 (Approximately)

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (43)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 16000

 

 

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.

 

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)

India

A1

A1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

 

 

 

 

 

 

 

 

 

 

 

 

INFORMATION PARTED BY

 

Name :

Mr. Manoj

Designation :

Accountant

Contact No.:

91-11-41032500

Date :

20.01.2012

 

 

LOCATIONS

 

Registered Office :

A-1/22, Safdarjung Enclave, New Delhi – 110029, India

Tel. No.:

91-11-41032500

Fax No.:

91-11-41032501

E-Mail :

info@hema.in

Website :

www.hema.in

Location :

Owned

 

 

Ware House :

B-179, Okhla Industrial Area, Phase – I, New Delhi – 110020, India

 

 

DIRECTORS

 

As on 30.09.2011

 

Name :

Mr. Amit Agarwal

Designation :

Director

Address :

A-1/22, Safdarjung, Enclave, New Delhi – 110029, India

Date of Birth/Age :

06.05.1975

Date of Appointment :

03.07.2001

DIN No.:

00027405

Other Directorship :

 

S.No.

CIN

Name of the Company

Current designation of the director

Date of appointment at current designation

Original date of appointment

Date of cessation

Company Status

Defaulting status

1

U70101DL2001PTC109481

Hema Houses and Buildtech Private Limited

Director

02-02-01

02-02-01

-

Active

NO

2

U72200DL2001PTC111489

Hema Connoisseur Collections Private Limited

Director

03-07-01

03-07-01

-

Active

NO

3

U74899DL1994PTC061287

Fusion Micro Finance Private Limited

Director

27-11-04

27-11-04

01-01-10

Active

NO

4

U15491DL1984PLC018676

Green Valley Agro Mills Limited

Director

31-08-06

16-12-05

-

Active

NO

 

 

Name :

Mrs. Hema Agarwal

Designation :

Director

Address :

A-1/22, Safdarjung, Enclave, New Delhi – 110029, India

Date of Birth/Age :

20.09.1976

Date of Appointment :

30.09.2009

DIN No.:

00219475

Other Directorship :

 

S.No.

CIN

Name of the Company

Current designation of the director

Date of appointment at current designation

Original date of appointment

Date of cessation

Company Status

Defaulting status

1

U70101DL2001PTC109481

Hema Houses and Buildtech Private Limited

Director

02-02-01

02-02-01

-

Active

NO

2

U50401DL2004PTC127147

Venkateshwar Auto Components Private Limited

Managing director

01-10-04

01-10-04

-

Active

NO

3

U74899DL1994PTC061287

Fusion Micro Finance Private Limited

Director

27-11-04

27-11-04

01-01-10

Active

NO

4

U72200DL2001PTC111489

Hema Connoisseur Collections Private Limited

Director

29-09-10

30-09-09

-

Active

NO

 

 

KEY EXECUTIVES

 

Name :

Mr. Manoj

Designation :

Accountant

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

As on 30.09.2011

 

Names of Shareholders

 

No. of Shares

Amit Agarwal

 

5000

Hema Agarwal

 

5000

TOTAL

 

10000

 

Equity Share Break up (Percentage of Total Equity)

 

As on 30.09.2011

 

Category

Percentage

Directors or relatives of Directors

100.00

Total

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Trader and Importer of Wine, Liker, Whisky, Scotch etc

 

 

Imports :

 

Products :

Wine, Scotch

Countries :
  • Italy
  • Germany

 

 

Terms :

 

Selling :

Cash and Credit

 

 

Purchasing :

Cash and Credit

 

 

GENERAL INFORMATION

 

Customers :

End Users

  • D Maridian
  • Hyatt Hotel

 

 

No. of Employees :

15 (Approximately)

 

 

Bankers :

Deutsche Bank, New Delhi, India

 

 

Facilities :

Unsecured Loan

As on

31.03.2011

(Rs. in

Millions)

As on

31.03.2010

(Rs. in

Millions)

Amit Agarwal

17.000

11.600

Total

17.000

11.600

 

Banking Relations :

--

 

 

Auditors :

 

Name :

Jain Dhingra and Associates

Chartered Accountant

Address :

G-20, Dewan House, Subhash Nagar, New Delhi – 110018, India

PAN.:

AAAFJ6105F

 

 

CAPITAL STRUCTURE

 

As on 31.03.2011

 

Authorised Capital :

No. of Shares

Type

Value

Amount

10000

Equity Shares

Rs.10/- each

Rs.0.100 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

No. of Shares

Type

Value

Amount

10000

Equity Shares

Rs.10/- each

Rs.0.100 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

0.100

0.100

0.100

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

3.940

2.107

1.181

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

4.040

2.207

1.281

LOAN FUNDS

 

 

 

1] Secured Loans

17.000

11.600

17.900

2] Unsecured Loans

0.000

0.000

0.000

TOTAL BORROWING

17.000

11.600

17.900

DEFERRED TAX LIABILITIES

0.169

0.162

0.151

 

 

 

 

TOTAL

21.209

13.969

19.332

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

2.898

1.855

1.876

Capital work-in-progress

0.000

0.000

0.000

 

 

 

 

INVESTMENT

3.222

0.000

0.000

DEFERREX TAX ASSETS

0.000

0.000

0.000

 

 

 

 

CURRENT ASSETS, LOANS & ADVANCES

 

 

 

 

Inventories
10.156

6.947

14.887

 

Sundry Debtors
15.234

7.834

10.356

 

Cash & Bank Balances
3.979

4.058

3.873

 

Other Current Assets
0.000

0.000

0.000

 

Loans & Advances
3.117

2.332

1.742

Total Current Assets
32.486

21.171

30.858

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
14.183

7.816

11.855

 

Other Current Liabilities
3.129

1.246

1.486

 

Provisions
0.085

0.000

0.070

Total Current Liabilities
17.397

9.062

13.411

Net Current Assets
15.089

12.109

17.447

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.005

0.009

 

 

 

 

TOTAL

21.209

13.969

19.332

 

 

 

 

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2011

31.03.2010

31.03.2009

 

SALES

 

 

 

 

 

Income

106.626

93.655

56.458

 

 

Other Income

4.069

4.248

1.916

 

 

TOTAL                                    

110.695

97.903

58.374

 

 

 

 

 

Less

EXPENSES

 

 

Office Expenses

108.033

96.529

57.817

 

 

Administrative Expenses

 

 

 

 

 

Advertising Expenses

 

 

 

 

 

TOTAL                                    

108.033

96.529

57.817

 

 

 

 

 

 

PROFIT BEFORE TAX

2.662

1.374

0.557

 

 

 

 

 

Less

TAX                                                                 

0.829

0.448

0.266

 

 

 

 

 

 

PROFIT AFTER TAX

1.833

0.926

0.291

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

2.107

1.181

0.890

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

3.940

2.107

1.181

 

 

 

 

 

 

EARNINGS IN FOREIGN CURRENCY

 

 

 

 

 

FOB Value of Exports

0.023

4.110

0.602

 

 

Earning in Foreign Exchange 

0.000

0.511

0.295

 

TOTAL EARNINGS

0.023

4.621

0.897

 

 

 

 

 

 

CIF Value of Imports

29.075

27.066

14.154

 

 

 

 

 

 

Earnings Per Share (Rs.)

183.30

92.60

29.10

 

Expected Sales (2011-2012) : Rs.120.000 Millions

 

The above information has been parted by Mr. Manoj – Accountant

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2011

31.03.2010

31.03.2009

PAT / Total Income

(%)
1.66

0.95

0.50

 

 
 

 

 

Net Profit Margin

(PBT/Sales)

(%)
2.40

1.47

0.95

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
7.52

5.97

1.70

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.66

0.63

0.43

 

 
 

 

 

Debt Equity Ratio

(Total Liability/Networth)

 
8.51

9.36

24.44

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
1.87

2.34

2.30

 

 

LOCAL AGENCY FURTHER INFORMATION

 

Check list by Info Agents

 

Available in Reports ( Yes/No)
  1. Year of Establishment

Yes
  1. Locality of the Firm

Yes
  1. Constitutions of the Firm

Yes
  1. Premises Details

Yes
  1. Type of Business

Yes
  1. Line of Business

Yes
  1. Promoter’s Background

--
  1. No. of Employees

Yes
  1. Name of person contacted

Yes
  1. Designation of contact person

Yes
  1. Turnover of Firm fort last three years

Yes
  1. Profitability for last three years

No
  1. Reasons For Variation<>20%

No
  1. Estimation for coming financial year

Yes
  1. Capital in Business

Yes
  1. Details of Sister Concern

No
  1. Major Suppliers

No
  1. Major Customers

Yes
  1. Payment Terms

Yes
  1. Export / Import Details (if Applicable)

Yes
  1. Market Information

--
  1. Litigations that the firm / Promoter involved in

--
  1. Banking Details

Yes
  1. Banking Facility Details

No
  1. Conduct of the banking account

--
  1. Buyer visit details

--
  1. Financial, if provided

No
  1. Incorporation details, if applicable

--
  1. Last Account filed at ROC

--
  1. Major shareholder , if available

--

 

FUTURE PROSPECTUS

 

The board is hopeful of good results in future.

 

TRADE REFERENCES

 

  • D Maridian
  • Hyatt Hotel

 

FIXED ASSETS

 

  • Air Conditioner
  • Computer
  • EPABX Systems
  • Fire Extinguisher
  • Fridge
  • Inverter
  • Printer
  • Tea Machine
  • Generator
  • Stabilizer

 

·         CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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.50.29

UK Pound

1

Rs.77.60

Euro

1

Rs.64.67

 

 

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

4

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

4

--MARGINS

-5~5

--

DEMERIT POINTS

 

 

--BANK CHARGES

YES/NO

NO

--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

 

43

 

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

-

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.