|
Report Date : |
14.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
HILLSON FOOTWEAR PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
70, Rama Road, New Delhi-110 026, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
07.08.2008 |
|
|
|
|
Com. Reg. No.: |
55-181821 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3.930 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U19200DL2008PTC181821 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELH06864E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCH0910R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Supplier and Exporter of Shoes and Footwears. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 35000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having moderate track. Profitability
of the company appears to be low. However, trade relations are fair. Business
is active. Payments are reported to be slow but correct. 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
|
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. Nitin Agarwal |
|
Designation : |
Director |
|
Contact No.: |
91-1276-268085 |
|
Date : |
24.04.2012 |
LOCATIONS
|
Registered Office : |
70, |
|
Tel. No.: |
91-11-25436518 |
|
Mobile No.: |
91-9810337507 (Mr. Nitin Agarwal) / 91-9811364346 (Mr. Sachin Agarwal) |
|
E-Mail : |
|
|
Websites : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Plot No. 420-421, MIE Part – I, Bahadurgarh-124 507, |
|
Tel. No.: |
91-1276-268085 |
|
Location : |
Owned |
DIRECTORS
As on 28.09.2011
|
Name : |
Mr. Nitin Agarwal |
|
Designation : |
Director |
|
Address : |
26/53, West Punjabi Bagh, |
|
Date of Appointment : |
07.08.2008 |
|
DIN No. : |
02279027 |
|
|
|
|
Name : |
Mr. Sachin Agarwal |
|
Designation : |
Director |
|
Address : |
26/53, West Punjabi Bagh, |
|
Date of Appointment : |
07.08.2008 |
|
DIN No. : |
02240793 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 28.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Nitin Agarwal |
|
96380 |
|
Sachin Agarwal |
|
63500 |
|
Nikita Agarwal |
|
15900 |
|
Nisha Agarwal |
|
1000 |
|
Rambabu Agarwal |
|
32200 |
|
Shashi Agarwal |
|
14800 |
|
|
|
1000 |
|
Ramsons Compounding ( |
|
1000 |
|
Manju Jain |
|
1000 |
|
Ranjit Sahay Jain |
|
1000 |
|
Nirmak Kumar Sukhlal Pincha |
|
1000 |
|
Suman Nirmal Pincha |
|
1000 |
|
Santosh Bimal Bothra |
|
1000 |
|
Bimal Kumar Jain |
|
1000 |
|
Ranjana Agarwal |
|
1000 |
|
Toor Finance Company Limited ( |
|
150000 |
|
Jinesh Kumar Jain |
|
100 |
|
Nem Kumar Jain and Sons (HUF) |
|
100 |
|
Rashmi Gupta |
|
100 |
|
Sanwarmal Khadria (HUF) |
|
100 |
|
Amit Mata |
|
1000 |
|
Bulbul Buildcon Private Limited (India) |
|
3600 |
|
Adonis Infosoft Private Limited (India) |
|
4800 |
|
Ashish Jain |
|
100 |
|
Seema Jain |
|
100 |
|
Charanjit Kaur |
|
100 |
|
Total
|
|
392880 |
As on 31.03.2011
List of Allotees
|
Particular |
No. of shares |
|
Toor Finance company Limited (India) |
5000 |
|
Total |
5000 |
As on 28.09.2011
Equity Share Break up (Percentage of Total Equity)
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Supplier and Exporter of Shoes and Footwears. |
|
|
|
|
Products : |
·
Safety Boots ·
School Shoes ·
Mens Footwear ·
Woman and Children Footwear ·
Sandals ·
Slippers |
|
|
|
|
Exports : |
|
|
Products : |
Shoes and footwears |
|
Countries : |
·
Middle east ·
UAE |
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
China |
|
|
|
|
Terms : |
|
|
Selling : |
Credit (45 days) |
|
|
|
|
Purchasing : |
Credit (30 days) |
GENERAL INFORMATION
|
Suppliers : |
Huntsman International India Private Limited |
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Customers : |
Wholesalers ·
Master Rubber Works |
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No. of Employees : |
150 (Approximately) |
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Bankers : |
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Facilities : |
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Jinesh Manoj and Company Chartered Accountant |
|
Address : |
222, Vardhaman Plaza, Plot No. 12, Road No. 44, Opp. Rani Bagh,
Pitampura, New Delhi – 110034, Delhi, Indiax |
|
PAN.: |
AATPG1419N |
CAPITAL STRUCTURE
After as on
28.09.2011
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
800000 |
Equity Shares |
Rs.10/- each |
Rs.8.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
397980 |
Equity Shares |
Rs.10/- each |
Rs. 3.980
Millions |
|
|
|
|
|
As on 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
800000 |
Equity Shares |
Rs.10/- each |
Rs.8.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
392980 |
Equity Shares |
Rs.10/- each |
Rs.3.930
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 |
|
|
|
|
|
1] Share Capital |
3.930 |
3.843 |
1.810 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
4.956 |
0.555 |
0.092 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
8.886 |
4.398 |
1.902 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
15.875 |
13.336 |
2.089 |
|
|
2] Unsecured Loans |
10.830 |
8.885 |
2.367 |
|
|
TOTAL BORROWING |
26.705 |
22.221 |
4.456 |
|
|
DEFERRED TAX LIABILITIES |
0.204 |
0.239 |
0.161 |
|
|
|
|
|
|
|
|
TOTAL |
35.795 |
26.858 |
6.519 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
19.546 |
19.342 |
3.024 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
10.900
|
5.270 |
0.999 |
|
|
Sundry Debtors |
21.700
|
9.854 |
5.705 |
|
|
Cash & Bank Balances |
3.512
|
1.131 |
0.427 |
|
|
Other Current Assets |
3.497
|
0.183 |
0.055 |
|
|
Loans & Advances |
1.185
|
0.772 |
3.060 |
|
Total
Current Assets |
40.794
|
17.210 |
10.246 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
23.602
|
9.006 |
6.767 |
|
|
Other Current Liabilities |
0.000
|
0.000 |
0.000 |
|
|
Provisions |
1.009
|
0.787 |
0.116 |
|
Total
Current Liabilities |
24.611
|
9.793 |
6.883 |
|
|
Net Current Assets |
16.183
|
7.417 |
3.363 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.066 |
0.099 |
0.132 |
|
|
|
|
|
|
|
|
TOTAL |
35.765 |
26.858 |
6.519 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Gross turnover |
126.191 |
62.877 |
25.313 |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
0.437 |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
NA |
0.463 |
0.092 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
1.20 |
0.51 |
|
(Rs.
In millions)
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
180.000 |
|
|
|
|
|
Expected Sales (2012-2013): Rs.250.000 Millions
The above information has been parted by Mr. Nitin Agarwal.
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.72
|
NA |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
NA |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
5.77
|
7.28 |
5.96 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.65
|
1.76 |
1.49 |
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) |
Yes |
|
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 |
Yes |
|
29) Last accounts filed at ROC |
Yes |
|
30) Major Shareholders, if available |
Yes |
PROFITABILITY:
The company has earned a Net Profit of Rs.0.437 Million (Before tax) during
the year and the same has been transferred to Balance Sheet.
TURNOVER:
The company has achieved a Gross Turnover of Rs.126.191 Millions during
the year.
Bankers Charges
Report as per Registry
|
Corporate
identity number of the company |
U19200DL2008PTC181821 |
|
Name of the
company |
HILLSON FOOTWEAR PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
70, Rama Road, New Delhi – 110 026, Delhi, India |
|
This form is for |
Modification
of charge |
|
Charge
identification (ID) number of the charge to be modified |
10148887 |
|
Type of charge |
|
|
Particular of
charge holder |
Punjab National Bank, BO : |
|
Nature of
instrument creating charge |
·
Agreement
for Hypothecation of Goods and Book Debts to Secure Cash Credit Facility. ·
Agreement
for Hypothecation of moveable assets forming part of fixed/block assets. ·
Agreement
for Hypothecation of Current Assets. ·
Letter
of Continuity. ·
Supplementary
Agreement. |
|
Date of
instrument Creating the charge |
17.02.2012 |
|
Amount secured by
the charge |
Rs.15.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest The Borrower
shall pay interest at the rate of 4.50% over prevailing Base Rate i.e. 15.25%
per annum with monthly rests. Terms of Repayment The Working
Capital Limits shall be subject to renewal. Margin ·
Stocks
- 25% ·
Book
Debts- 40% Extent and Operation of the charge The Agreement
shall operate as a continuing security for balance or balances due to the
bank and all other monies due by the borrower. |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Hypothecation of
entire stocks of fabrics and Book Debts and all other current assets of the
company in its own or rented premises and its other sales depots as
specifically permitted by the sanctioning authority. Hypothecation of
all moveable assets forming part of fixed/block assets. Equitable
Mortgage of Immovable Property situated at Industrial Plot No. 420-21, MIE,
Part - I, Bahadurgarh, Haryana. |
|
Particulars of
the present modification |
The Cash Credit Limit
stand enhanced from Rs 6.000 Millions to Rs 15.000 Millions. |
TRADE REFERENCES
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 : |
SBA |
|
|
|
|
Report Prepared
by : |
DPK |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
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 |
3 |
|
--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.