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MIRA
INFORM REPORT
|
Report Date : |
31.01.2012 |
IDENTIFICATION DETAILS
|
Name : |
MARIM IMPEX ( |
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Registered Office : |
8C/ 11, Abdul Aziz Marg, W.E.A. Karol Bagh, |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
19.07.1988 |
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Com. Reg. No.: |
55-32497 |
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Capital
Investment / Paid-up Capital : |
Rs. 4.000
millions |
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CIN No.: [Company
Identification No.] |
U51909DL1988PTC032497 |
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IEC No.: |
0591015692 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
DELM03466B |
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PAN No.: [Permanent
Account No.] |
AAACM2493G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trader and Importer of Iron and Steel, Aluminium. |
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No. of Employees : |
20 Approximately |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 66956 |
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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) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
INFORMATION PARTED BY
|
Name : |
Mr. M.S. Qureshi |
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Designation : |
Director |
LOCATIONS
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Registered Office : |
8C/ 11, Abdul Aziz Marg, W.E.A. Karol Bagh, |
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Tel. No.: |
91-11-25798822 |
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Fax No.: |
91-11-30525511 |
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E-Mail : |
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Website : |
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Location : |
Rented |
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Corporate Office : |
C – 194, Nariana Industrial Area, Phase – 1, |
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Tel. No. : |
91-11-25798822 |
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Fax No.: |
91-11-25798418 |
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Branch Office 1 : |
201, Magan Lal Chambers, Carnac Bunder, Baborao Bobde
Marg, Mumbai – 400009, |
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Tel. No.: |
91-22-23486411 |
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Fax No.: |
91-22-23486411 |
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Area : |
220 sq ft |
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Location : |
Rented |
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Branch Office 2 : |
BXV 198, |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Mohammed Shahid Qureshi |
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Designation : |
Managing Director |
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Address : |
G 74, Nizamuddin (West), |
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Date of Birth/Age : |
21.06.1954 |
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Qualification : |
MSC |
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Experience : |
30 years |
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Date of Appointment : |
19.07.1988 |
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Name : |
Mr. Mohammed Danish Qureshi |
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Designation : |
Director |
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Address : |
G 74, Nizamuddin (West), |
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Date of Birth/Age : |
21.04.1988 |
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Qualification : |
BA |
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Experience : |
3 years |
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Date of Appointment : |
01.04.2008 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Mr. Mohammed Shahid Qureshi |
320993 |
|
Mrs. Shaheen Qureshi |
49507 |
|
Mr. Mohammed Shakir |
1000 |
|
Mr. Shajahan B. Qureshi |
500 |
|
Mrs. Aalia Qureshi |
500 |
|
Mrs. Saima Qureshi |
500 |
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Mr. Zafar Saleem Qureshi |
500 |
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Mr. Ghous Mohammed |
500 |
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Mr. Mohammed Shadab Qureshi |
25000 |
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Mr. S.B. Mathur |
500 |
|
Mr. Mohammed Shadab Qureshi |
500 |
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Total |
400000 |
EQUITY SHARE BREAK – UP
AS ON 30.09.2011
|
Category |
Percentage |
|
Directors
or relatives of directors |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader and Importer of Iron and Steel, Aluminium. |
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Terms : |
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Selling : |
Cash and Credit (30-60-90 days) |
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Purchasing : |
L/C, Cash and Credit (30-60-90 days) |
GENERAL INFORMATION
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Customers : |
v
Wholesalers Major Customers v
Ferromart International v
Hind Metal Industries v
Modern Manufacturing Company v
Raksha Metal v
Saud Steel Traders v
Shah Steel Traders v
Ankur Steel Corporation v
Dew Steels v
Indian Steels v
Maaz Exports v
R.M. Trading Company v
K.P. Enterprises v
Indian Steel Corporation Limited v
Good Luck Fabrication v
National Steel |
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No. of Employees : |
20 Approximately |
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Bankers : |
v
Union Bank of G – 237, Naraina Vihar, v
The Development Credit Bank Limited B 39, |
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Facilities : |
SECURED LOANS: (Rs. in
millions)
UNSECURED LOANS (Rs. in
millions)
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Satish Aggarwal and Associates Chartered Accountants |
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Address : |
4/ 5, Asaf Ali Road, |
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Tel. No.: |
91-11-23277630 |
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Fax No.: |
91-11-23262956 |
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Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs.10.000 millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
400000 |
Equity Shares |
Rs.10/- each
|
Rs. 4.000
millions |
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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1] Share Capital |
4.000 |
2.500 |
2.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
12.739 |
6.186 |
5.201 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
16.739 |
8.686 |
7.701 |
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LOAN FUNDS |
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1] Secured Loans |
24.384 |
0.000 |
15.506 |
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2] Unsecured Loans |
42.806 |
31.632 |
26.446 |
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TOTAL BORROWING |
67.190 |
31.632 |
41.952 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
83.929 |
40.318 |
49.653 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
11.237 |
0.718 |
0.883 |
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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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DEFERREX TAX ASSETS |
0.088 |
0.102 |
0.063 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
36.661
|
20.510
|
17.686
|
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Sundry Debtors |
15.553
|
7.176
|
25.329
|
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|
Cash & Bank Balances |
7.342
|
5.867
|
2.966
|
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Other Current Assets |
0.000 |
0.000 |
0.000
|
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Loans & Advances |
16.137
|
9.900
|
17.374
|
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Total
Current Assets |
75.693
|
43.453
|
63.355
|
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
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|
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|
Sundry Creditors |
0.280
|
2.608
|
12.686
|
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Current Liabilities |
1.826
|
0.844
|
1.499
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Provisions |
0.983
|
0.503
|
0.462
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Total
Current Liabilities |
3.089
|
3.955
|
14.647
|
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Net Current Assets |
72.604
|
39.498
|
48.688
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
83.929 |
40.318 |
49.653 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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TURNOVER |
337.710 |
238.372 |
243.477 |
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Less |
EXPENSES |
334.660 |
236.923 |
239.905 |
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PROFIT BEFORE
TAX |
3.050 |
1.449 |
3.572 |
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Less |
TAX |
0.997 |
0.465 |
1.163 |
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PROFIT AFTER TAX |
2.053 |
0.984 |
2.409 |
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IMPORTS |
231.267 |
143.000 |
105.498 |
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Earnings Per
Share (Rs.) |
7.29 |
3.94 |
9.64 |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.60
|
0.41
|
0.99
|
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Net Profit Margin (PBT/Sales) |
(%) |
0.90
|
0.60
|
1.47
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.50
|
3.28
|
6.72
|
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Return on Investment (ROI) (PBT/Networth) |
|
0.18
|
0.16
|
0.67
|
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Debt Equity Ratio (Total Liability/Networth) |
|
4.19
|
4.09
|
1.53
|
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|
Current Ratio (Current Asset/Current Liability) |
|
24.50
|
10.98
|
6.42
|
LOCAL AGENCY FURTHER INFORMATION
NOTE:
The registered office address of the company has been shifted from C – 194,
Nariana Industrial Area, Phase – 1, New Delhi – 110 028, India to present
address w. e. f. 05.08.2008.
FORM 8
|
Corporate
identity number of the company |
U51909DL1988PTC032497 |
|
Name of the
company |
MARIM IMPEX ( |
|
Address of the
registered office or of the principal place of business in |
8C/ 11, Abdul Aziz Marg, W.E.A. Karol Bagh, New Delhi – 110 005 |
|
This form is for |
Modification of
charge |
|
Type of charge |
Book debts Movable property
(not being pledge) Floating charge |
|
Particular of
charge holder |
Union Bank of India, G – 237, Naraina Vihar, New Delhi – 110 028,
India Email: sanjuprofessional@gmail.com |
|
Nature of
instrument creating charge |
SD-06
Hypothecation Agreement of Goods and Debts |
|
Date of
instrument Creating the charge |
11.12.2010 |
|
Amount secured by
the charge |
Rs. 45.000
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest Base Rate +4.50%
presently effective @13.00% p.a on monthly rest or such other rate(s)
specified by the bank from time to time . Terms of repayment on demand Margin CC-20% LC-25% Extent and operation of the charge 100% First
exclusive charge |
|
Short particulars
of the property charged (Including location of the property) |
First charge on
all the stocks and stocks received under LC
of the company lying /kept/stored at godowns/premises or anywhere else
incluidng those in transit both present and future . First charge on
all the current assets , book-debts , receivables of the company both present
and future . |
|
Particulars of
the present modification |
Cash Credit limit
against stocks and book-debts now enhanced to Rs.45.000 millions and W/w
Import LC of Rs.(30.000) millions permitted to the company . |
FIXED ASSETS:
v
Computer
v
Cycle
v
Furniture
v
Office Equipments
v
Photocopy Machine
v
Scooter
v
Typewriter
v
Car
v
Crane
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.49.50 |
|
|
1 |
Rs.77.74 |
|
Euro |
1 |
Rs.65.19 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
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 |
|
46 |
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.