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Report Date : |
10.03.2012 |
IDENTIFICATION DETAILS
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Name : |
AMBITIOUS PENS PRIVATE LIMITED |
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Registered
Office : |
B-27, Phase-I, Mayapuri Industrial Area, New Delhi-110064 |
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Country : |
India |
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Financials (as
on) : |
31.03.2011 |
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Date of Incorporation
: |
13.07.1992 |
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Com. Reg. No.: |
55-049522 |
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Capital
Investment / Paid-up Capital : |
Rs.5.000 Millions |
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CIN No.: [Company Identification
No.] |
U74899DL1992PTC049522 |
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TAN No.: [Tax Deduction & Collection
Account No.] |
DELA12169D DELA05151G |
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PAN No.: [Permanent Account No.] |
AAACA6564C |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturing and Exporting of writing instruments, pens, ball pens,
colour pencils, stationery product, etc. |
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No. of Employees
: |
Not Available |
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 20000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. The company
has been successful in wiping off the accumulated losses of the previous year.
Trade relations are reported as fair. Business is active. Payments are
reported to be slow. The company can be considered for business dealings with some
cautions. |
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
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
LOCATIONS
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Registered Office : |
B-27, Phase-I, Mayapuri Industrial Area, New Delhi-110064, India |
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Tel. No.: |
91-11-46861900/28114383/28115028 |
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Fax No.: |
91-11-46861900/28116328 |
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E-Mail : |
DIRECTORS
AS ON 29.09.2011
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Name : |
Mr. Atul Charla |
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Designation : |
Director |
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Address : |
Block 22, Apartment 902, Mehrauli Gurgaon Road, Heritage City,
Gurgaon-122002, Haryana, India |
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Date of Birth/Age : |
16.01.1964 |
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Date of Appointment : |
13.07.1992 |
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Din No.: |
00597174 |
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Other Directorship:
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Name : |
Ms. Jyoti Charla |
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Designation : |
Director |
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Address : |
Block 22, Apartment 902, Mehrauli Gurgaon Road, Heritage City,
Gurgaon-122002, Haryana, India |
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Date of Birth/Age : |
15.09.1965 |
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Date of Appointment : |
13.07.1992 |
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Din No.: |
00597240 |
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Other Directorship:
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Name : |
Mr. Baldev Raj Charla |
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Designation : |
Director |
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Address : |
Block 22, Apartment 902, Mehrauli Gurgaon Road, Heritage City,
Gurgaon-122002, Haryana, India |
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Date of Birth/Age : |
05.03.1940 |
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Date of Appointment : |
18.05.1998 |
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Din No.: |
00674497 |
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Other Directorship:
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Name : |
Mr. Shashi Charla |
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Designation : |
Director |
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Address : |
Block 22, Apartment 902, Mehrauli Gurgaon Road, Heritage City,
Gurgaon-122002, Haryana, India |
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Date of Birth/Age : |
13.12.1945 |
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Date of Appointment : |
23.11.2005 |
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Din No.: |
00674528 |
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Other Directorship:
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Name : |
Mr. Amit Charla |
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Designation : |
Director |
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Address : |
Block 22, Apartment 902, Mehrauli Gurgaon Road, Heritage City,
Gurgaon-122002, Haryana, India |
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Date of Birth/Age : |
17.09.1986 |
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Date of Appointment : |
01.01.2006 |
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Din No.: |
00180996 |
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2011
|
Names of Shareholders |
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No. of Shares |
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Baldev Raj Charla |
|
11364 |
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Atul Charla |
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10170 |
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Amit Charla |
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4500 |
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Shashi Charla |
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11636 |
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Abhishek Charla |
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750 |
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Jyoti Charla |
|
11580 |
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Total |
|
50000 |
AS ON 29.09.2011
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Equity Share Breakup |
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Percentage of Holding |
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Category |
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Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturing and Exporting of writing instruments, pens, ball pens,
colour pencils, stationery product, etc. |
GENERAL INFORMATION
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Bankers : |
Bank of India, SME Branch, Mayapuri Industrial Estate, New
Delhi-110064, India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Prekshit Mehta and Company Chartered Accountants |
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Address : |
3-4, Double Storey, New Rajinder Nagar, New Delhi-110060, India |
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Mobile No.: |
91-9313209656/9312268845 |
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E-Mail : |
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Pan No.: |
AAHFP1867H |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
50000 |
Equity Shares |
Rs.100/- each |
Rs.5.000 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
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|
|
|
|
1] Share Capital |
5.000 |
5.000 |
5.000 |
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|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
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3] Reserves & Surplus |
0.118 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
(0.109) |
(1.251) |
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NETWORTH |
5.118 |
4.891 |
3.749 |
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|
LOAN FUNDS |
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|
|
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|
1] Secured Loans |
10.114 |
11.261 |
20.354 |
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2] Unsecured Loans |
11.656 |
11.294 |
13.290 |
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TOTAL BORROWING |
21.770 |
22.555 |
33.644 |
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DEFERRED TAX LIABILITIES |
2.144 |
1.941 |
1.612 |
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TOTAL |
29.032 |
29.387 |
39.005 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
24.283 |
21.326 |
21.109 |
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Capital work-in-progress |
0.000 |
0.198 |
16.754 |
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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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|
|
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Inventories |
8.776
|
10.597 |
15.235 |
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Sundry Debtors |
8.426
|
4.509 |
4.080 |
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Cash & Bank Balances |
8.681
|
7.284 |
1.033 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
3.998
|
2.850 |
2.019 |
|
Total
Current Assets |
29.881
|
25.240 |
22.367 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
13.879
|
13.788 |
13.433 |
|
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Other Current Liabilities |
10.546
|
3.100 |
7.468 |
|
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Provisions |
0.707
|
0.489 |
0.324 |
|
Total
Current Liabilities |
25.132
|
17.377 |
21.225 |
|
|
Net Current Assets |
4.749
|
7.863 |
1.142 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
29.032 |
29.387 |
39.005 |
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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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|
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|
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Income |
78.428 |
92.486 |
60.752 |
|
|
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Other Income |
0.923 |
2.427 |
0.223 |
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|
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TOTAL (A) |
79.351 |
94.913 |
60.975 |
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|
|
|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Goods Sold |
65.211 |
76.714 |
49.426 |
|
|
|
Administrative Expenses |
3.372 |
2.501 |
1.429 |
|
|
|
Selling and Distribution Expenses |
1.605 |
2.035 |
0.990 |
|
|
|
Personal Expenses |
4.412 |
4.124 |
3.554 |
|
|
|
Other Expenses |
0.000 |
2.825 |
0.000 |
|
|
|
TOTAL (B) |
74.600 |
88.199 |
55.399 |
|
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|
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|
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|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
4.751 |
6.714 |
5.576 |
|
|
|
|
|
|
|
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|
Less |
FINANCIAL
EXPENSES (D) |
2.639 |
3.710 |
3.889 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
2.112 |
3.004 |
1.687 |
|
|
|
|
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|
|
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|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
1.583 |
1.232 |
1.068 |
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|
PROFIT BEFORE
TAX (E-F) (G) |
0.529 |
1.772 |
0.619 |
|
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|
|
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|
|
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|
Less |
TAX (H) |
0.301 |
0.630 |
0.144 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
0.228 |
1.142 |
0.475 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.55 |
22.85 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.29
|
1.20 |
0.77 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.67
|
1.92 |
1.02 |
|
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|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.97
|
3.81 |
1.42 |
|
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|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.10
|
0.36 |
0.17 |
|
|
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|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
9.16
|
8.16 |
14.63 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.19
|
1.45 |
1.05 |
LOCAL AGENCY FURTHER INFORMATION
FINANCE AND ACCOUNTS:
The Company achieved
a turnover of Rs. 78.428 millions and other income of Rs 0.923 millions against
which the expenses on cost of good sold amounting to Rs 65.211 millions,
Administrative expenses of Rs. 3.372 millions, selling and distribution
amounting to Rs.1.605 millions, personnel expenses of Rs. 4.412 millions,
financial expenses of Rs. 2.639 millions and a non cash expense of depreciation
amounting to Rs. 1.583 millions were incurred resulting in a pretax Profit of
Rs 0.529 million before appropriations. After the appropriation of Provision
for Income Tax of Rs 0.098 millions and Deferred tax liability of Rs 0.203
million resulting in a Post Tax Profit of Rs 0.228 million.
RESULTS OF
OPERATIONS:
The total turnover
of the business has been Rs 79.351 millions against which the total expenses
amounting to Rs 78.822 millions have been incurred resulting in a profit of Rs
0.529 million.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Creation of
charge |
|
Corporate
identity number of the company |
U74899DL1992PTC049522 |
|
Name of the
company |
AMBITIOUS PENS
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
B-27, Phase-I, Mayapuri Industrial Area, New Delhi-110064, India |
|
Type of charge |
Immovable
Property |
|
Particular of
charge holder |
Bank of India, SME Branch, Mayapuri Industrial Estate, New
Delhi-110064, India |
|
Email |
|
|
Nature of description
of the instrument creating or modifying the charge |
No Instrument.
Oral Assent Accorded on 11.03.2008 for extension of equitable mortgage of
immovable properties of the Company. |
|
Date of
instrument Creating the charge |
11.03.2008 |
|
Amount secured by
the charge |
Rs.16.373
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As applicable to
respective credit facilities aggregating to Rs. 16.373 Millions granted
to/enjoyed by B.R. Products Private Limited Terms of
Repayment As applicable to
respective credit facilities aggregating to Rs. 16.373 Millions granted
to/enjoyed by B.R. Products Private Limited Margin As applicable to
respective credit facilities aggregating to Rs. 16.373 Millions granted
to/enjoyed by B.R. Products Private Limited Extent and
Operation of the charge 100% |
|
Short particulars
of the property charged |
Equitable
mortgage of immovable properties of the Company situated at F-442A, RIICO
Industrial Area, Bhiwadi, Phase-II, Rajasthan. |
WEBSITE DETAILS:
PROFILE:
With over five decades of experience in manufacturing and research in the
field of Writing Instruments has today made it possible for subject to be
recognized as a reliable and dependable supplier of Fountain Pen Nibs and Ball
Pens to almost all the leading pen manufacturers of renowned brands all over
the world. They base their Business Ethics simply on- Quality, On-Time
Delivery, Transparency, Reliability and Capacity.
Subject is renowned for it’s unparalleled commitment to Quality,
Customer Satisfaction and Technical excellence; a commitment which has won us
International respect amongst world reputed pen manufacturers.
They manufacture complete range of Writing Instruments and Art Products:
Ball Point Pens, Fountain Pens, Sketch Pens, Gel Pens, Wax Crayons, Oil Pastels,
Water Soluble Oil Pastels and Water Soluble Wax Crayons.
Their current capacity levels are to supply over million pieces of ball
pens and geared to increase their capacity manifolds with a lead-time of only a
month. The pens they manufacture are exported to all the stationery outlets all
over the world.
The range includes standard models as well as customized versions, in
order to satisfy specific customer requests.
Equipped with a state-of-the-art in-house R&D facility, together
with the expertise of highly qualified and trained personnel with years of
experience they also develop new moulds and dies for their clients.
To attain high levels of consistent quality, their manufacturing process
is carried out with only selected raw materials and components sourced from
world reputed suppliers and manufacturers. They follow discrete production
process where products pass through the various stages and processes in batches
which can be traced back to the point of origin for immediate rectification of
any deviation from required quality standards.
With over 50 years of experience in making High Quality Fountain Pen
Nibs-Tapered (laminated), Roll Under, Butter Fly, Uniform thickness and
Calligraphy Nibs they have excelled in the art of crafting fine quality
products customized tosuit the individual specifications of their distinct and
varied clients. Their quality standards are second to none where every single
Nib passes through a series of Quality Control parameters before dispatch. Due
to the highly effective cost control measures in place they are able to add
value to their esteemed client s by not only providing the finest writing
instrument but also providing the cost advantage to their clients.
They at subject understand the dynamics of
deliverables on time and they endeavor to stand by their commitments at all
times. Their current range of Fountain Pen Nibs are being exported to France,
Italy, Germany, Czech Republic, Spain, UK and Japan.
As a young organization with a legacy of
over 50 years they owe their success to the hard work of their people and they
all in the Ambitious Family are completed devoted to the betterment of the
lives of their people. They are proud to offer their employees a safe, clean
and non-discriminating work environment. They are an Equal Opportunity
Employer. Their 70 percent of the work force is women.
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.50.02 |
|
|
1 |
Rs.79.00 |
|
Euro |
1 |
Rs.66.17 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
2 |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
|
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.