MIRA
INFORM REPORT
|
Report Date : |
02.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
INDUS EXIMTECH PRIVATE LIMITED (w.e.f. 11.12.2006) |
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Formerly Known
As : |
OSMA GASES PRIVATE LIMITED (w.e.f. 09.07.2003) OSMAG XPORTS PRIVATE LIMITED |
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Registered
Office : |
Vinit Market, 241, Jayendra Ganj, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
07.03.1996 |
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Com. Reg. No.: |
10-010571 |
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Capital
Investment/ Paid-up Capital: |
Rs.1.000 million |
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CIN No.: [Company Identification
No.] |
U01120MP1996PTC010571 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMI07849C |
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PAN No.: [Permanent Account No.] |
AABCI6719E |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacture of Chemical Plastic and also Distributor of Hardware
Sector, Solvent Cement, Construction etc. |
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No. of
Employees: |
55 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (46) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 49000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. It has
achieved better growth in its sales during 2012. The company has also started the manufacturing of chemical and plastic
from June 2012. Trade relations are reported as decent. Business is active. Payments
are reported to be usually correct. 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.
INDIAN ECONOMIC OVERVIEW
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
SE 2B |
|
Rating Explanation |
High performance capability and moderate
financial strength. |
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Date |
October 2011 |
RBI DEFAULTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAULTERS’’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Alok Gupta |
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Designation : |
Director |
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Contact No.: |
91-9324596644 |
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Date : |
31.10.2012 |
LOCATIONS
|
Registered Office : |
Vinit Market, 241, Jayendra Ganj, |
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Tel. No.: |
91-22-27896462 |
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Mobile No.: |
91-9324596644 (Mr. Alok Gupta) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Corporate Office : |
724, The |
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Tel. No.: |
91-22-81265656 |
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Fax No.: |
91-22-61265650 |
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Factory : |
C – 6, Punit Industrial Co-operative Housing Society, Turbhe, Navi
Mumbai – 400703, |
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Location : |
Rented |
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Branch Office : |
Unit 2, Plot No. 254, Sector – 28, Vashi, Navi Mumbai - 400 705, |
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E-Mail : |
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Location : |
Rented |
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Overseas Office : |
3929, East Ash, |
DIRECTORS
AS ON. 29.09.2012
|
Name : |
Ms. Anjana Gupta |
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Designation : |
Director |
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Address : |
Bhaskar Apartment, Jayandra Ganj, |
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Date of Birth/Age : |
30.10.1966 |
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Qualification : |
M.Com in Economics |
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Date of Appointment : |
10.12.2007 |
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DIN No.: |
01757245 |
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Name : |
Mr. Alok Chandra Gupta |
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Designation : |
Director |
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Address : |
Flat No.02, 1st Floor, Ras Bhavan, Plot No.159, Sector 28, Vashi,
Navi Mumbai – 400 703, |
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Date of Birth/Age : |
30.08.1965 |
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Qualification : |
Graduate from IT |
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Date of Appointment : |
16.03.2009 |
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DIN No.: |
00764478 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON. 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Gunjan Gupta |
1100 |
|
Alok Chandra Gupta |
36800 |
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Pradeep Kamat |
49900 |
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Anjana Gupta |
11900 |
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Alok Chandra Gupta HUF |
300 |
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Total |
100000 |
Equity Share Break up (Percentage of Total Equity)
AS ON. 29.09.2012
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Category |
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Percentage |
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Directors or relatives of directors |
|
100.00 |
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Total
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|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacture of Chemical Plastic and also Distributor of Hardware
Sector, Solvent Cement, Construction etc. |
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Terms : |
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Selling : |
Cash/Credit |
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Purchasing : |
Cash/Credit |
GENERAL INFORMATION
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Customers : |
Wholesalers, Retailers |
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No. of Employees : |
55 (Approximately) |
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Bankers : |
·
Punjab National Bank ·
HDFC Bank Limited ·
ICICI Bank ·
Kotak Mahindra Bank ·
HSBC Bank Limited ·
Central Bank of |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
S Prakash and Company Chartered Accountants |
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Address : |
Maheshwari Sadan, Near Moti Market, Jayendra Ganj, |
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Tel. No.: |
91-751-2320120 / 2320707 / 2664948 |
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Mobile No.: |
91-9826245362 |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
200000 |
Equity Shares |
Rs.10/- each |
Rs.2.000 millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 million |
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Note: Reconciliation of the number of shares
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Particular |
As on 31.03.2012 |
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|
Number |
Amount |
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Shares outstanding at the beginning of the
year |
100000 |
Rs.1.000 million |
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Add: Shares issued during the year |
- |
- |
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Less: Share cancelled on buyback of shares |
- |
- |
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Shares outstanding end of the year |
100000 |
Rs.1.000 million |
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Shares held by each share holding more than 5% Shares
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Particular |
As on 31.03.2012 |
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|
Number |
% |
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Mr. Alok Chand Gupta |
36800 |
36.80 |
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Mr. Pradeep Kamat |
49900 |
49.90 |
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Mrs. Anjana Gupta |
11900 |
11.90 |
Terms/Rights attached to equity shares
The company has only one class of equity
shares having a par value of Rs.10 per share. Each holder equity entitled to
one vote per share
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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|
SHAREHOLDERS FUNDS |
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1] Share Capital |
1.000 |
1.000 |
0.500 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
11.248 |
7.292 |
1.371 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
12.248 |
8.292 |
1.871 |
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LOAN FUNDS |
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1] Secured Loans |
17.412 |
13.926 |
6.741 |
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2] Unsecured Loans |
8.008 |
2.150 |
6.950 |
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TOTAL BORROWING |
25.420 |
16.076 |
13.691 |
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DEFERRED TAX LIABILITIES |
0.021 |
0.022 |
0.010 |
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TOTAL |
37.689 |
24.390 |
15.572 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
1.709 |
0.984 |
0.319 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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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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Inventories |
28.104
|
22.268 |
15.221 |
|
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Sundry Debtors |
34.775
|
20.680 |
14.111 |
|
|
Cash & Bank Balances |
0.335
|
0.363 |
0.762 |
|
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Other Current Assets |
0.000
|
0.000 |
0.000 |
|
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Loans & Advances |
4.912
|
2.869 |
2.113 |
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Total
Current Assets |
68.126
|
46.180 |
32.207 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
20.151
|
17.395 |
15.381 |
|
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Other Current Liabilities |
11.995
|
5.379 |
1.300 |
|
|
Provisions |
0.000
|
0.000 |
0.276 |
|
Total
Current Liabilities |
32.146
|
22.774 |
16.957 |
|
|
Net Current Assets |
35.980
|
23.406 |
15.250 |
|
|
|
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|
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.003 |
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|
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|
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|
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TOTAL |
37.689 |
24.390 |
15.572 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SALES |
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|
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|
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Income |
138.271 |
106.905 |
61.401 |
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Other Income |
0.000 |
0.000 |
0.007 |
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TOTAL (A) |
138.271 |
106.905 |
61.408 |
|
|
|
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|
|
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Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material Consumed |
54.768 |
46.751 |
|
|
|
|
Purchase of Stock in Trade |
42.902 |
32.382 |
|
|
|
|
Changes in Inventories of Finished Goods |
(5.805) |
(6.167) |
|
|
|
|
Employee Related Expenses |
14.784 |
12.362 |
|
|
|
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Other Expenses |
22.064 |
14.779 |
|
|
|
|
TOTAL (B) |
128.713 |
100.107 |
59.437 |
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|
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Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
9.558 |
6.798 |
1.971 |
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|
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|
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|
Less |
FINANCIAL
EXPENSES (D) |
3.506 |
2.410 |
0.000 |
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
6.052 |
4.388 |
1.971 |
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|
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|
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.275 |
0.155 |
0.074 |
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|
|
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|
PROFIT BEFORE
TAX (E-F) (G) |
5.777 |
4.233 |
1.897 |
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|
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|
Less |
TAX (H) |
1.821 |
1.312 |
0.586 |
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PROFIT AFTER TAX
(G-H) (I) |
3.956 |
2.921 |
1.311 |
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|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
4.292 |
1.371 |
0.060 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
8.248 |
4.292 |
1.371 |
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|
|
|
|
|
Earnings Per
Share (Rs.) |
39.56 |
29.21 |
NA |
|
%2002-Nov-2012_files/image001.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.86 |
2.73 |
2.13 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
4.18 |
3.96 |
3.09 |
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|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
8.27 |
8.98 |
5.83 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.47 |
0.51 |
1.01 |
|
|
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|
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|
Debt Equity Ratio (Total Liability/Networth) |
|
4.70 |
4.69 |
16.38 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.12 |
2.03
|
1.90 |
LOCAL AGENCY FURTHER INFORMATION
DETAILS OF SUNDRY
CREDITORS
|
Particulars |
As
on 31.03.2012 Rs.
in millions |
As
on 31.03.2011 Rs.
in millions |
As
on 31.03.2010 Rs.
in millions |
|
Sundry Creditors |
20.151 |
17.395 |
- |
|
For Goods supplied |
- |
- |
13.228 |
|
For Expenses |
- |
- |
1.837 |
|
Other Creditors |
- |
- |
0.316 |
|
|
|
|
|
|
Total |
20.151 |
17.395 |
15.381 |
|
Available
in Report [Yes/No] |
|
|
Year
of Establishment |
Yes |
|
Locality
of the Firm |
Yes |
|
Constitution
of the firm |
Yes |
|
Premises
details |
No |
|
Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
Yes |
|
No.
of Employees |
Yes |
|
Name
of Person Contacted |
Yes |
|
Designation
of contact person |
Yes |
|
Turnover
of firm for last three years |
Yes |
|
Profitability
for last three years |
Yes |
|
Reasons
for variation <> 20% |
- |
|
Estimation
for coming financial year |
No |
|
Capital
the business |
Yes |
|
Details
of sister concerns |
No |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
|
Payment
Terms |
Yes |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
Yes |
|
Conduct
of the banking account |
- |
|
Buyer
visit details |
- |
|
Financials,
if provided |
Yes |
|
Incorporation
details, if applicable |
Yes |
|
Last
accounts filed at ROC |
Yes |
|
Major
Shareholders, if applicable |
Yes |
|
Date of Birth of Proprietor/Partner/Director,
if available |
Yes |
|
PAN
of Proprietor/Partner/Director, if available |
No |
|
Voter
ID No of Proprietor/Partner/Director, if available |
No |
|
External Agency
Rating, if available |
Yes |
WORKING OF THE COMPANY
During the year ended 31st March
2012 Gross Turnover achieved Rs.138.271 Millions as against the turnover of
Rs.2010-11 Rs.106.905 Millions. During the current financial year the directors
are hopeful to achieve the sales of Rs.200.000 Millions
FORM 8
|
Corporate identity number of the company |
U01120MP1996PTC010571 |
|
Name of the company |
INDUS EXIMTECH PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in |
Vinit Market, 241, Jayendra Ganj, Email: spect2576@rediffmail.com |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10167116 |
|
Type of charge |
·
Book debts ·
Movable property (not being pledge) ·
Others ·
Stocks |
|
Particular of charge holder |
Punjab National Bank Email: jpscs2007@gmail.com |
|
Nature of instrument creating charge |
Hypothecation of Goods and Book Debts To Secure Cash Credit
Facility for Rs.9.000 millions (enhanced from Rs.5.000 millions) |
|
Date of instrument Creating the charge |
14.09.2010 |
|
Amount secured by the charge |
Rs.9.000 millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest 13% p.a. (subject to change from time to time) Terms of Repayment Cash Credit facility is subject to review and renew at annually. Margin stock 25% Extent and Operation of the charge Rs.9.000 millions and operation of Charge on first charge on
Hypothecation of Stocks of the Company |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
first charge on Hypothecation of Stocks of the Company |
|
Particulars of the present modification |
By this submission of modification, the company has created charge on
all kind of entire hypothecated stocks to secure bank for sanction of cash credit facility of Rs.9.000 millions
(enhanced from Rs.5.000 millions) |
FIXED ASSETS
·
Furniture and Fixture
·
Air Conditioner
·
Fax Machine
·
Fire Safety Equipment
·
Inverter
·
·
Dye
·
Computer
·
Laptop
·
Bicycle
·
Tourque Wrench
·
Machinery
·
Motor Car
·
Weighing Machine
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.53.78 |
|
|
1 |
Rs.86.77 |
|
Euro |
1 |
Rs.69.71 |
INFORMATION DETAILS
|
Information Gathered
by : |
SVA |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
46 |
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.