|
Report Date : |
22.05.2012 |
IDENTIFICATION DETAILS
|
Name : |
NANNOH BROTHERS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
165, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
05.04.1990 |
|
|
|
|
Com. Reg. No.: |
18995 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.6.000 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U36999TN1990PTC018995 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturing, exporting and importing of Household and
Industrial Brushes. |
|
|
|
|
No. of Employees
: |
Not Divulged |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (44) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 159424 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
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/Sales Office : |
165, |
|
Tel. No.: |
91-44-25228704/25230876/25230878/ 25230875 |
|
Mobile No.: |
91-9840085300 |
|
Fax No.: |
91-44-24501256/25230876 |
|
E-Mail : |
|
|
Website : |
http://www.nanooh.com |
|
Area : |
1000 sq. ft. |
|
Location : |
Owned |
|
|
|
|
Head Office : |
Old
Mahabalipuram road, |
|
Tel. No.: |
91-44-24502786/24502317/24501287 |
|
|
91-9840085300 |
|
Fax No.: |
91-44-24501256 |
|
E-Mail : |
|
|
Website: |
|
|
|
|
|
Factory : |
New No.
190 (Old No. 165), |
|
Tel. No.: |
91-44-25228704 |
|
Fax No.: |
91-44-25230876 |
DIRECTORS
AS ON 29.09.2011
|
Name : |
Mr. Ayub Mohamed Nannooh |
|
Designation : |
Managing Director |
|
Address : |
165, |
|
Date of Birth/Age : |
06.10.1947 |
|
Date of Appointment : |
05.04.1990 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U36999TN1990PTC018995 |
NANNOH BROTHERS PRIVATE
LIMITED |
Managing director |
05/04/1990 |
05/04/1990 |
- |
Active |
NO |
|
Name : |
Mr. Mohammad Imran |
|
Designation : |
Director |
|
Address : |
165, |
|
Date of Appointment : |
01.04.1995 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U36999TN1990PTC018995 |
NANNOH BROTHERS PRIVATE
LIMITED |
Director |
01/04/1995 |
01/04/1995 |
- |
Active |
NO |
|
Name : |
Mr. Akil Ahmed |
|
Designation : |
Director |
|
Address : |
165, |
|
Date of Appointment : |
30.09.2004 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation of the director |
Date of appointment at current designation |
Original date of appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U36999TN1990PTC018995 |
NANNOH BROTHERS PRIVATE
LIMITED |
Director |
30/09/2004 |
30/09/2004 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Ayub Mohamed Nannooh |
|
2549 |
|
Imran Mohamed Nannooh |
|
1200 |
|
Munira Ayub and Akil Ahmed |
|
264 |
|
Munira Ayub and Imran Mohamed Nannooh |
|
264 |
|
Munira Ayub and Md. Rizwan Nannooh |
|
263 |
|
Md. Rizwan Nannooh |
|
205 |
|
Akil Ahmed |
|
1200 |
|
Rahila |
|
55 |
|
Total |
|
6000 |
AS ON 29.09.2011
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturing, exporting and importing of Household and
Industrial Brushes. |
GENERAL INFORMATION
|
No. of Employees : |
Not Divulged |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
Bank of Baroda, Chennai Main Branch, 28, Rajaji Salai, Chennai -
600001, Tamil Nadu, India |
||||||||||||||||||||||||||||||||||||||||||
|
|
|
||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
E. Balu Chartered Accountant |
|
Address : |
172/93, Coral Merchant Street, Mannady, Chennai – 600001, Tamilnadu,
India |
|
Tel No.: |
91-44-25228680, 25268785 |
|
|
|
|
Associates/Subsidiaries : |
NA |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
7000 |
Equity Shares |
Rs.1000/- each |
Rs.7.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
6000 |
Equity Shares |
Rs.1000/-
each |
Rs.6.000
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 |
|
|
|
|
|
1] Share Capital |
6.000 |
6.043 |
6.043 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
33.856 |
6.386 |
5.912 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
39.856 |
12.429 |
11.955 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
32.499 |
21.772 |
19.822 |
|
|
2] Unsecured Loans |
1.062 |
7.979 |
15.127 |
|
|
TOTAL BORROWING |
33.561 |
29.751 |
34.949 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
73.417 |
42.180 |
46.904 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
48.532 |
20.932 |
23.152 |
|
|
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 |
14.219
|
13.209 |
14.479 |
|
|
Sundry Debtors |
14.881
|
14.660 |
12.957 |
|
|
Cash & Bank Balances |
0.181
|
0.354 |
0.119 |
|
|
Other Current Assets |
0.937
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.979
|
2.553 |
3.599 |
|
Total
Current Assets |
31.197
|
30.776 |
31.154 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
4.632
|
6.315 |
4.328 |
|
|
Other Current Liabilities |
0.800
|
0.995 |
0.926 |
|
|
Provisions |
0.880
|
2.218 |
2.148 |
|
Total
Current Liabilities |
6.312
|
9.528 |
7.402 |
|
|
Net Current Assets |
24.885
|
21.248 |
23.752 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
73.417 |
42.180 |
46.904 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
NA |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
1.00
|
3.16 |
3.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
4.94
|
3.23 |
4.21 |
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 |
No |
|
12)
Profitability for last three years |
No |
|
13)
Reasons for variation <> 20% |
-- |
|
14)
Estimation for coming financial year |
No |
|
15)
Capital in the business |
No |
|
16)
Details of sister concerns |
No |
|
17)
Major suppliers |
No |
|
18)
Major customers |
No |
|
19)
Payments terms |
No |
|
20)
Export / Import details (if applicable) |
-- |
|
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 |
PERFORMANCE OF THE COMPANY
The profits for the year had been considerably
reduced. The Directors are taking all steps necessary to improve the profits in
the coming years.
The Directors are happy to report that the
cordial relations that have been built up and nurtured promises to be long and
enduring.
FORM 8:
|
Corporate identity number of the company |
U36999TN1990PTC018995 |
|
Name of the company |
NANNOH BROTHERS PRIVATE LIMITED |
|
Address of the registered office or of the
principal place of business in |
165, Angappa Naicken Street, Madras, Tamil
Nadu, India |
|
This form is for |
Modification of charge |
|
Type of charge |
Book Debts Immovable Property Movable Property others |
|
Particular of charge holder |
Bank of Baroda |
|
Nature of instrument creating charge |
1. Composite Hypothecation Agreement (For
Stocks/Book-Debts/Vehicles/Moveable Machinery) - Hypothecation and
Power of Attorney 2. Memorandum of Deposit of Title Deeds Both relate to one single modification of
charge |
|
Date of instrument Creating the charge |
02/07/2010 |
|
Amount secured by the charge |
Rs.37.875 Millions |
|
Brief of the principal terms an conditions
and extent and operation of the charge |
Terms of Repayment Baroda Overdraft against Land and Building
(SME Scheme) : Rs. 32.500 Millions : Repayable on demand. Period 12 months Term Loan : Rs.2.750 Millions - 33 months
- 32 monthIy installments of Rs.83,500/-
each and the last (33rd) installment of Rs.78,000/-, commencing from June
2010. Interest to be serviced as and when charged Demand Loan : Rs.2.625 Millions - From
September 2010 @ Rs.1,05,000/- each per month for 25 months. Interest to be
serviced as and when charged including moratorium period of 5 months Margin Baroda Overdraft against Land and Building
(SME Scheme) : Rs. 32.500 Millions - 40% on Property Value (Residual Value) Term Loan : Rs.2.750 Millions - 25% Demand Loan of Rs.2.625 Millions - 25% Extent and Operation of the charge The charge on the Company's Stocks, Book
Debts, Plant and Machinery (present and future), Land and Building, fixtures,
fittings and all installations erected / to be erected shall operate as
security till the complete repayment of the Overall Credit Limit of Rs.37.875
Millions, together with interest, costs, charges and all expenses which may
be debited to the appropriate accounts from time to time. Others The present Overall Credit Limit of
Rs.37.875 Millions consists of : Baroda Overdraft against Land and Building
(SME Scheme) : Rs. 32.500 Millions Term Loan
: Rs. 2.750 Millions Demand Loan : Rs. 2.625 Millions |
|
Short particulars of the property charged |
1. Company's Stocks, Book Debts, Plant and
Machinery (present and future), and 2. Factory Land admeasuring 0.73 cents and
Building together with fixtures, fittings and all installations erected / to
be erected thereon in Survey Nos.141/4A (0.08 cents), 142/3 (0.04 cents),
142/2C (0.10 cents), 142/2B (0.42 cents) and 141/3B (0.09 cents), in Old
Patta No.19, Present Patta No.23 dated 24.10.2001 issued by Deputy Tahsildar
Tambaram at Karapakkam Village,within the Registration Sub District of
Neelangaraiand Registration District of Kancheepuram. |
|
Date of instrument modifying the charge |
18/02/2010 |
|
Particulars of the present modification |
Credit Limit has been enhanced from
Rs.26.041 Millions to Rs.37.875 Millions and is secured by Company's Stocks,
Book Debts, Plant and Machinery (present and future), Land admeasuring 0.73
cents and Building, together with fixtures, fittings and all installations
erected/to be erected thereon in Survey Nos.141/4A, 142/3, 142/2C, 142/2B and
141/3B in Patta No.23 (Old No.19) dated 24.10.01 issued by Dy Tahsildar
Tambaram at Karapakkam Village, within the Regn.Sub Dist of Neelangarai and
Regn, Dist of Kancheepuram. |
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.54.68 |
|
|
1 |
Rs.86.52 |
|
Euro |
1 |
Rs.69.85 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
44 |
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.