MIRA
INFORM REPORT
|
Report Date : |
12.06.2012 |
IDENTIFICATION DETAILS
|
Name : |
MEGA DOORS AND PLY PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Flat No 32/1 Halagevoderhalli Rajarajeshwari Nagar, Near Gopalan
Arcade, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
19.07.2007 |
|
|
|
|
Com. Reg. No.: |
043411 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 1.000 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U20212KA2007PTC043411 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
BLRM1980D |
|
|
|
|
Legal Form : |
Private Limited Liability Company
|
|
|
|
|
Line of Business
: |
Trader of Doors and Plywood’s |
|
|
|
|
No. of Employees
: |
Not Available |
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 15120 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
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 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
Flat No 32/1 Halagevoderhalli Rajarajeshwari Nagar, Near Gopalan Arcade,
Bangalore 560098, Karnataka, India |
|
Tel. No.: |
91-80-32406112 |
|
E-Mail : |
DIRECTORS
|
Name : |
Mr. Dharmendra Baid |
|
Designation : |
Director |
|
Address : |
50, 8th Main, RPC Layout, Vijaya Nagar, Bangalore 560040,
Karnataka, India |
|
Date of Birth/Age : |
05.04.1974 |
|
Date of Appointment : |
19.07.2007 |
|
|
|
|
Name : |
Mr. F Manoj Kumar |
|
Designation : |
Director |
|
Address : |
2/1, OTC Road, S P Road, Cross, Bangalore 560002, Karnataka, India |
|
Date of Birth/Age : |
25.07.1972 |
|
Date of Appointment : |
19.07.2007 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Dharmendra Baid |
95000 |
|
Manoj Dugar |
55000 |
|
Mahendra Baid |
50000 |
|
Mamta Dugar |
30000 |
|
Jain Agencies Private Limited |
10000 |
|
Jitesh Finance Private Limited |
10000 |
|
Total |
250000 |
AS ON 30.09.2011
|
Equity Share
Breakup |
|
Percentage of
Holding |
|
Category |
|
|
|
Bodies corporate |
|
8.00 |
|
Directors or relatives of directors |
|
92.00 |
|
|
Total
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Trader of Doors and Plywood’s |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
·
Standard Chartered Bank, 112, Serenity,
Koramangala Industrial Area, 5th Block, Koramangala, Bangalore
560095, Karnataka, India ·
Bank of India |
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Facilities : |
Rs. In Millions
|
|
|
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Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
Bhandari Pincha and Surana Chartered Accountant |
|
Address : |
324, 1st Floor, Prabhat Complex, 8 K G Road, Bangalore
560009, Karnataka, India |
|
|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs. 10 each |
Rs. 5.000 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
250000 |
Equity Shares |
Rs. 10 each |
Rs.2.500 millions |
|
|
|
|
|
AS ON 31.03.2011
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 |
|
|
|
|
|
|
100000 |
Equity Shares |
Rs. 10 each |
Rs. 1.000 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 |
1.000 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
2.780 |
1.616 |
0.874 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
3.780 |
1.716 |
0.974 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
4.601 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
5.401 |
5.094 |
3.202 |
|
|
TOTAL BORROWING |
10.002 |
5.094 |
3.202 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.003 |
0.001 |
|
|
|
|
|
|
|
|
TOTAL |
13.782 |
6.813 |
4.177 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
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|
FIXED ASSETS [Net Block] |
0.935 |
0.218 |
0.110 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.004 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
11.190
|
12.905 |
9.057 |
|
|
Sundry Debtors |
25.712
|
18.507 |
12.800 |
|
|
Cash & Bank Balances |
0.550
|
0.245 |
0.269 |
|
|
Other Current Assets |
0.000 |
0.000 |
0.000 |
|
|
Loans & Advances |
4.100
|
1.922 |
1.962 |
|
Total
Current Assets |
41.552
|
33.579 |
24.088 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
17.373
|
17.529 |
10.059 |
|
|
Other Current Liabilities |
9.625
|
9.391 |
9.990 |
|
|
Provisions |
1.720
|
0.084 |
0.000 |
|
Total
Current Liabilities |
28.718
|
27.004 |
20.049 |
|
|
Net Current Assets |
12.834
|
6.575 |
4.039 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.009 |
0.020 |
0.028 |
|
|
|
|
|
|
|
|
TOTAL |
13.782 |
6.813 |
4.177 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Sales |
114.013 |
59.020 |
55.531 |
|
|
|
Other Income |
0.679 |
0.177 |
0.000 |
|
|
|
TOTAL (A) |
114.692 |
59.197 |
55.531 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Sales |
103.597 |
52.996 |
|
|
|
|
Preliminary Expenditure written Off |
0.009 |
0.009 |
55.347 |
|
|
|
Administrative Expenses |
8.203 |
4.656 |
|
|
|
|
TOTAL (B) |
111.809 |
57.661 |
55.347 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
2.883 |
1.536 |
NA |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.912 |
0.404 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
1.971 |
1.132 |
NA |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
0.250 |
0.037 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
1.721 |
1.095 |
0.996 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.557 |
0.353 |
0.341 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1.164 |
0.742 |
0.655 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
1.616 |
0.874 |
NA |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
2.780 |
1.616 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
11.64 |
74.24 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
1.01
|
1.25 |
1.17 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.50
|
1.85 |
1.79 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.05
|
3.23 |
4.11 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.45
|
0.63 |
1.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
10.24
|
18.70 |
23.87 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.44
|
1.24 |
1.20 |
LOCAL AGENCY FURTHER INFORMATION
FUTURE OUTLOOK
The company has doubled the turnover and also very profit compare to previous
year. The company is expected to achieve substantial turnover and profits are
expected to reasonably well. There is a strong competition in the line of
operation where the company operates, however they hope that their policies and
service will improve the performance of the company year by year.
NOTE:
Registered office of the company has been shifted from Survey No.20, Block No.5/2, Pantharapalya, Nayandahalli, Mysore Road, Bangalore 560039, Karnataka, India to the present address w.e.f. 08.08.2011
FIXED ASSETS:
·
Furniture and Fixture
·
Television
·
Mobile Instruments
·
TVS Victor
·
Hero Honda Splendor
·
Computer
·
Laptop
FORM 8
|
Corporate
identity number of the company |
U20212KA2007PTC043411 |
|
Name of the company
|
MEGA DOORS AND PLY PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Flat No 32/1 Halagevoderhalli Rajarajeshwari Nagar, Near Gopalan
Arcade, Bangalore 560098, Karnataka, India |
|
This form is for |
Creation of
charge |
|
Type of charge |
Book debts Floating charge |
|
Particular of
charge holder |
Standard Chartered Bank, 112, Serenity, Koramangala Industrial Area, 5th
Block, Koramangala, Bangalore 560095, Karnataka, India Email: leena.gangadharan@sc.com
|
|
Nature of
instrument creating charge |
Hypothecation
Agreement |
|
Date of
instrument Creating the charge |
28.10.2010 |
|
Amount secured by
the charge |
Rs. 10.000 millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest Credit Facility. Interest /
Commission - As agreed by and with the Bank from time to time. Terms of repayment As agreed by and
with the Bank from time to time. Margin As applicable, if
any. Extent and operation of the charge The Bank is
having first and exclusive charge on the security given by the Company |
|
Short particulars
of the property charged (Including location of the property) |
Hypothecation by
way of first and exclusive charge on: a) all the stock in trade both present
and future consisting of raw materials, finished goods, goods in process of
manufacturing and other merchandise. b) All the
present and future book debts, o/s moneys receivables, claims and bills.
|
|
Check List by
Info Agents |
Available in
Report (Yes / No) |
|
1) Year of Establishment |
Yes |
|
2) Locality of the firm |
Yes |
|
3) Constitutions of the firm |
Yes |
|
4) Premises details |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter's background |
Yes |
|
8) No. of employees |
No |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
11) Turnover of firm for last three years |
Yes |
|
12) Profitability for last three years |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if
applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter
involved in |
-- |
|
23) Banking Details |
Yes |
|
24) Banking facility details |
Yes |
|
25) Conduct of the banking account |
-- |
|
26) Buyer visit details |
-- |
|
27) Financials, if provided |
Yes |
|
28) Incorporation details, if applicable |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
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.55.24 |
|
|
1 |
Rs.85.93 |
|
Euro |
1 |
Rs.69.82 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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 |
3 |
|
--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 |
|
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 |
-- |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.