MIRA
INFORM REPORT
|
Report Date : |
12.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
S.S. AEROSOLS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
J2/19, Budh Vihar, Phase-1, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
15.06.2006 |
|
|
|
|
Com. Reg. No.: |
149746 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 0.300 million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U24222DL2006PTC149746 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Aerosol Spray Paints, High Temperature Paints etc. |
|
|
|
|
No. of Employees : |
15 (Approximately) (In Office + In Factory) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 960 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a relatively company having moderate track. There appears
some accumulated losses recorded by the company. However, 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 caution.
|
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) |
|
|
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. Sarvesh Kumar Gupta |
|
Designation : |
Director |
|
Contact No.: |
91-9810104333 |
|
Date : |
24.04.2012 |
LOCATIONS
|
Registered Office : |
J2/19, Budh Vihar, Phase-1, New Delhi – 110041, Delhi, India |
|
Tel No.: |
91-11-27532056 |
|
Mobile No.: |
91-9810104333 (Mr. Sarvesh Kumar Gupta) |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Area : |
150 Sq. Mt. |
|
Location: |
Rented |
|
|
|
|
Factory : |
256, Modern Industrial Estate, Phase – I, Bahadun Garh, Haryana –
124507, India |
|
Area : |
25 Sq. Mt. |
|
Location: |
Rented |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Sarvesh Kumar Gupta |
|
Designation : |
Director |
|
Address : |
J2/19, Budh Vihar, Phase-1, New Delhi – 110041, Delhi, India |
|
Date of Birth/Age : |
11.11.1967 |
|
Date of Appointment : |
15.06.2006 |
|
DIN No.: |
01480336 |
|
|
|
|
Name : |
Mrs. Sarita Gupta |
|
Designation : |
Director |
|
Address : |
J2/19, Budh Vihar, Phase-1, New Delhi – 110041, Delhi, India |
|
Date of Birth/Age : |
15.07.1971 |
|
Date of Appointment : |
15.06.2006 |
|
DIN No.: |
01480356 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Sarvesh Kumar Gupta |
|
10000 |
|
Sarita Gupta |
|
10000 |
|
Praveen Kumar Jain |
|
9000 |
|
Sushma Jain |
|
1000 |
|
Total |
|
30000 |
AS ON 30.09.2011
|
Category |
Percentage |
|
|
|
|
Directors or relatives of Directors |
100.00 |
|
Other top fifty shareholders |
33.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Aerosol Spray Paints, High Temperature Paints etc. |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Suppliers : |
·
A N Supplier, Chennai ·
Advance Colours and Coatings Private Limited ·
Ashish Cosmetics Private Limited ·
Bajaj Colour and Chemicals ·
Containers Point ·
Jai Mata Gas Agency ·
Mangalchand Bhanwarlal Agencies ·
Parkash International ·
Pooja Electricals Control ·
Prabhu Ji Packages ·
RNG Enterprises ·
Ruby Aerosol Fillers and Chemicals ·
Sara - Chem India Private Limited ·
Sharma Printers ·
S K Garg and Company |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Customers : |
Wholesalers and Retailers ·
Wheels India Limited, Bawal and Pune ·
Birla Corp, Manesar ·
Sonakoyo, Gurgaon ·
Atlas Cycles, Sonepat ·
Insulation, Girgaon ·
R. K. Inds. Fbd ·
FBD Auto Component, FBD ·
Steel Strips Wheels Limited, CHD ·
Ablaze Industries ·
ACME Tele Power Limited ·
Active Power Control and Care ·
Airwell Industries ·
Amber Enterprises India (Private) Limited ·
AMW Auto Component Limited ·
Arvindo Fabro Plast Private Limited |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
No. of Employees : |
15 (Approximately) (In Office + In Factory) |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
ICICI Bank, Rohini Sector - 24,
Delhi, India |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
S. Aggarwal Chartered Accountants |
|
Address : |
M.I.E., Mama Chowk, Bahadurgarh – 124507, Haryana, India |
|
PAN No.: |
AEMPA4088E |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000 |
Equity Shares |
Rs.10/- each |
Rs. 0.300 Million |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
30000 |
Equity Shares |
Rs.10/- each |
Rs.0.300
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 |
0.300 |
0.300 |
0.250 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(0.061) |
(0.122) |
(0.143) |
|
|
NETWORTH |
0.239 |
0.178 |
0.107 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.769 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.569 |
0.906 |
0.817 |
|
|
TOTAL BORROWING |
1.338 |
0.906 |
0.817 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1.577 |
1.084 |
0.924 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.158 |
0.281 |
0.306 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.010 |
0.010 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.050
|
0.024
|
0.094 |
|
|
Sundry Debtors |
2.856
|
2.533
|
1.465 |
|
|
Cash & Bank Balances |
0.272
|
0.216
|
0.051 |
|
|
Other Current Assets |
0.027
|
0.000
|
0.010 |
|
|
Loans & Advances |
0.000
|
0.000
|
0.000 |
|
Total
Current Assets |
3.205
|
2.773
|
1.620 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
1.884
|
0.985 |
0.546 |
|
|
Other Current Liabilities |
0.024
|
0.016
|
0.066 |
|
|
Provisions |
0.888
|
0.987
|
0.398 |
|
Total
Current Liabilities |
2.796
|
1.988
|
1.010 |
|
|
Net Current Assets |
0.409
|
0.785
|
0.610 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.008 |
0.008 |
|
|
|
|
|
|
|
|
TOTAL |
1.577 |
1.084 |
0.924 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
|
|
|
|
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
9.163 |
6.257 |
3.272 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
Interest |
|
|
|
|
|
|
Depreciation |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.071 |
0.048 |
0.040 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.000 |
0.027 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
0.071 |
0.021 |
0.040 |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(0.122) |
(0.143) |
(0.183) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(0.046) |
(0.122) |
(0.143) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
2.37 |
0.70 |
0.71 |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
10.000 |
|
|
|
|
|
Expected Sales (2012-2013) : Rs.11.200 millions
The above information has been parted by Mr. Sarvesh Kumar Gupta.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Net Profit Margin (PBT/Sales) |
(%) |
0.77
|
0.77 |
1.22 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.63
|
1.57 |
2.08 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.30
|
0.27 |
0.37 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
17.30
|
16.26 |
17.07 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.15
|
1.39 |
1.60 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
5) Type of Business |
Yes |
|
6) Line of Business• |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
Yes |
|
9) Name of person contacted |
Yes |
|
10) Designation of contact person |
Yes |
|
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 |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
Yes |
|
18) Major customers |
Yes |
|
19) Payments terms |
Yes |
|
20) Export / Import details (if applicable) |
No |
|
21) Market information |
-- |
|
22) Litigations that the firm / promoter |
-- |
|
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 |
No |
|
29) Last accounts filed at ROC |
No |
|
30) Major Shareholders, if available |
No |
SALES AND PROFIT:
The Company was incorporated
under the Companies Act, 1956 on 15.06.2006. As it is the fifth year of the
operation and the company has improved his sales and net Profit also. So the
turnover of Company during the year has amounted to Rs.9.163 Millions. However,
the company has made profit for Rs. only Rs. 0.071 million comparing to last
year Profit of Rs. 0.021 million.
FIXED ASSETS:
·
Air Conditioners
·
Car Wagon R
·
Computer
·
Fire Equipments
·
Mobile
·
Weighting Scale
·
Furniture and Fixtures
·
Machinery
TRADE REFERENCES:
· A N Supplier, Chennai
· Wheels India Limited
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.53.64 |
|
|
1 |
Rs.86.42 |
|
Euro |
1 |
Rs.69.29 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
BSN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
|
26 |
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.