MIRA
INFORM REPORT
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Report Date : |
27.07.2012 |
IDENTIFICATION DETAILS
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Name : |
EFFORTS POLYMERS PRIVATE LIMITED |
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Registered
Office : |
208, Abhinash Mension, 82/3, |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
04.03.2008 |
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Com. Reg. No.: |
55-174909 |
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Capital Investment
/ Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company Identification
No.] |
U25209DL2008PTC174909 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELE05023E |
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PAN No.: [Permanent Account No.] |
AABCE9228L |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and exporter of polymers product and rubber product like
rubber ball for air valves, rubber hammer for industrial use etc. |
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No. of Employees
: |
20 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
B (27) |
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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 3600 |
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Status : |
Small company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a successor of “Efforts Rubber Industries” a proprietory concern
started in 1997. It is a small company in its field. Its scale of activities are
limited. However, trade relations are reported as fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for small 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
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 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Naveen Manchanda |
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Designation : |
Director |
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Contact No.: |
91-9810195509 |
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Date : |
26.07.2012 |
LOCATIONS
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Registered Office : |
208, Abhinash Mension, 82/3, Joshi Road, Karol Bagh, New Delhi –
110005, India |
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Tel. No.: |
91-11-47543551 |
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Mobile No.: |
91-9810195509/ 9810004551 (Mr. Naveen) |
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Fax No.: |
91-11-47543551 |
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E-Mail : |
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Website : |
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Area : |
25 Sq. Yard |
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Location : |
Rented |
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Corporate Office : |
4 DLF Industrial Area, Najaygarh Road, Near Moti Nagar, Metro Station,
Delhi – 110015, India |
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Factory : |
25/8/17, Modern Industrial Estate, Bahadurgarh – 124507, Haryana,
India |
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Tel. No.: |
91-1276-267765 |
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Fax No.: |
91-1276-267765 |
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Area : |
350 Sq. yard |
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Location : |
Owned |
DIRECTORS
(AS ON 30.09.2011)
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Name : |
Mr. Naveen Manchanda |
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Designation : |
Director |
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Address : |
H. No. 26, Sector – 1, Rohtak – 124001, Haryana, India |
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Date of Birth/Age : |
04.04.1973 |
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Date of Appointment : |
04.03.2008 |
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DIN No.: |
02071419 |
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Name : |
Mrs. Rohitraj Bhutani |
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Designation : |
Director |
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Address : |
House No.203, Sector 18, Mistipura Rohtak – 124001, Haryana, India |
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Date of Birth/Age : |
03.02.1981 |
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Date of Appointment : |
01.02.2011 |
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DIN No.: |
05102107 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 30.09.2011)
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Names of Shareholders |
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No. of Shares |
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Naveen Manchanda |
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9000 |
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Neelam Manchanda |
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1000 |
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Total |
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10000 |
(AS ON 30.09.2011)
Equity Shares Break – up
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Category |
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Percentage |
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Directors or relatives of directors |
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100.00 |
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Total
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|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and exporter of polymers product and rubber product like
rubber ball for air valves, rubber hammer for industrial use etc. |
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Products : |
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Exports : |
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Products : |
· Polymers Product · Rubber Product |
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Countries : |
· UK · Gulf Countries |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash and Credit |
PRODUCTION STATUS (AS ON 31.03.2011)
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Particulars |
Unit |
Actual Production |
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Rubber Parts |
(Pcs) |
10390 |
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(Mtrs) |
9812 |
GENERAL INFORMATION
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Customers : |
End Users · Ladwa Safety Solutions Private Limited |
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No. of Employees : |
20 (Approximately) |
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Bankers : |
Canara Bank, Haryana, India |
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Facilities : |
CC = R.3.000 Millions |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Gulati Pavan and Company Chartered Accountant |
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Address : |
218, Punjabi Colony, Ujhani – 243639, Uttar Pradesh, India |
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Tel. No.: |
91-591-264602 |
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Mobile No.: |
91-9999111410 |
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PAN No.: |
ACSPG9367L |
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Associates/Subsidiaries : |
· Safety Pro Inc 208, Abhinash Mension, 82/3, Joshi Road, Karol Bagh, New Delhi –
110005, India Activity: Manufacturer and exporter of polymers product and rubber
product like rubber ball for air valves, rubber hammer for industrial use
etc. |
CAPITAL STRUCTURE
(AS ON 30.09.2011)
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100
Million |
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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 |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.382 |
0.382 |
0.382 |
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3] Reserves & Surplus |
0.429 |
0.303 |
0.226 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
0.911 |
0.785 |
0.708 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.070 |
0.051 |
0.000 |
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TOTAL |
0.981 |
0.734 |
0.708 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.808 |
0.819 |
0.815 |
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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 |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.426
|
0.562
|
0.414 |
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Sundry Debtors |
3.932
|
3.088
|
2.546 |
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Cash & Bank Balances |
0.091
|
0.098
|
0.022 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
0.278
|
0.325
|
0.323 |
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Total
Current Assets |
4.727
|
4.073
|
3.305 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditor |
3.825
|
3.381
|
3.026 |
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Other Current Liabilities |
0.713
|
0.667
|
0.359 |
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Provisions |
0.035
|
0.030
|
0.052 |
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Total
Current Liabilities |
4.573
|
4.078
|
3.437 |
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Net Current Assets |
0.154
|
(0.005)
|
(0.132) |
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MISCELLANEOUS EXPENSES |
0.019 |
0.022 |
0.025 |
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TOTAL |
0.981 |
0.836 |
0.708 |
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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 |
8.435 |
5.562 |
8.323 |
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Other Income |
0.000 |
0.000 |
0.000 |
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TOTAL |
8.435 |
5.562 |
8.323 |
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Less |
EXPENSES |
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Cost of Goods Sold and Manufacturing Expenses |
7.086 |
4.530 |
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Administrative Expenses |
1.122 |
0.826 |
8.098 |
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Misc. Expenses Written Off |
0.003 |
0.003 |
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TOTAL |
8.211 |
5.359 |
8.098 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.224 |
0.203 |
0.225 |
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Less/ Add |
DEPRECIATION/
AMORTISATION |
0.043 |
0.044 |
0.035 |
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PROFIT BEFORE
TAX |
0.181 |
0.159 |
0.190 |
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Less |
TAX |
0.055 |
0.051 |
0.074 |
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PROFIT AFTER TAX
|
0.126 |
0.108 |
0.116 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.303 |
0.195 |
0.079 |
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BALANCE CARRIED
TO THE B/S |
0.429 |
0.303 |
0.195 |
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Earnings Per
Share (Rs.) |
12.58 |
10.81 |
11.60 |
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Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
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|
12.000 |
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Expected Sales (2012-13): Rs.15.000 Millions
The above information has been parted by Mr. Naveen Manchanda.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.49
|
1.94
|
1.39 |
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Net Profit Margin (PBT/Sales) |
(%) |
2.15
|
2.86 |
2.28 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.27
|
3.25
|
4.61 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.20
|
0.20
|
0.27 |
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Debt Equity Ratio (Total Liability/Networth) |
|
5.02
|
5.19
|
4.85 |
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Current Ratio (Current Asset/Current Liability) |
|
1.03
|
0.99
|
0.96 |
LOCAL AGENCY FURTHER INFORMATION
|
Check list by info
Agents |
Available in Report (Yes/ No) |
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Year of Establishment |
Yes |
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Locality of the Firm |
Yes |
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Constitution of the Firm |
Yes |
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Premises details |
Yes |
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Type of Business |
Yes |
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Line of Business |
Yes |
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Promoter’s Background |
Yes |
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No. of Employees |
Yes |
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Name of Person Contacted |
Yes |
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Designation of Contact person |
Yes |
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Turnover of Firm for last three years |
Yes |
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Profitability for last three years |
Yes |
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Reasons for variation <> 20% |
----- |
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Estimation for coming financial year |
Yes |
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Capital in the business |
Yes |
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Details of sister concerns |
Yes |
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Major Suppliers |
No |
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Major Customers |
Yes |
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Payments Terms |
Yes |
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Export/ Imports Details (If applicable) |
Yes |
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Market Information |
----- |
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Litigations that the firm/ Promoters Involved in |
----- |
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Banking details |
Yes |
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Banking Facility Details |
Yes |
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Conduct of the Banking Account |
----- |
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Buyer visit details |
----- |
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Financials, if provided |
Yes |
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Incorporation details is applicable |
Yes |
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Last Accounts filed at ROC |
Yes |
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Major Shareholders, if available |
Yes |
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PAN of
Proprietor/Partner/Director, if available |
No |
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Passport No of
Proprietor/Partner/Director, if available |
No |
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Voter ID No of
Proprietor/Partner/Director, if available |
No |
FINANCIAL PERFORMANCE:
The company is
progressing continuously. Due to competitive market the Sales have increased to
Rs.8.435 Millions in the current year as compared to Rs.5.562 Millions in the
previous year and Net profit after tax was Rs 1.26 Lac as against Rs 1.08 Lac
in previous year.
TRADE REFERENCE:
· Ladwa Safety Solutions Private Limited
· Ashoka Sales Corporation
FIXED ASSETS:
·
Computer
·
Electrical Installation
·
Plant and Machinery
·
Weighing Scale
· Tools and Dies
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 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.55.95 |
|
|
1 |
Rs.86.56 |
|
Euro |
1 |
Rs.67.95 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
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|
Report Prepared
by : |
NIT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
27 |
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.