MIRA
INFORM REPORT
|
Report Date : |
23.11.2012 |
IDENTIFICATION DETAILS
|
Name : |
FAUJI EXIM PRIVATE LIMITED [w.e.f. 21.07.2008] |
|
|
|
|
Formerly Known
As : |
FAUJI INTERNATIONAL ELECTRICALS PRIVATE LIMITED |
|
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Registered
Office : |
Building # 100 Sainik Vihar, Pitampura, New Delhi-110034 |
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Country : |
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Financials (as
on) : |
31.03.2011 |
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Date of
Incorporation : |
16.01.2006 |
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|
Com. Reg. No.: |
55-144911 |
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|
Capital
Investment / Paid-up Capital : |
Rs.0.100
Million |
|
|
|
|
CIN No.: [Company Identification
No.] |
U31909DL2006PTC144911 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELF03994E |
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|
|
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PAN No.: [Permanent Account No.] |
AABCF0696D |
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|
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|
Legal Form : |
Private Limited Liability Company |
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|
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Line of Business
: |
Manufacturer of Starter Armatures, Electric Armatures, Automobile
Armatures and Dynamo Armatures. |
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|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (28) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 2800 |
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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. Profitability
of the company appears to be low. 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
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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
India is developing into an open-market economy, yet traces
of its past autarkic policies remain. Economic liberalization, including
industrial deregulation, privatization of state-owned enterprises, and reduced
controls on foreign trade and investment, began in the early 1990s and has
served to accelerate the country's growth, which has averaged more than 7% per
year since 1997. India's diverse economy encompasses traditional village
farming, modern agriculture, handicrafts, a wide range of modern industries,
and a multitude of services. Slightly more than half of the work force is in
agriculture, but services are the major source of economic growth, accounting
for more than half of India's output, with only one-third of its labor force.
India has capitalized on its large educated English-speaking population to
become a major exporter of information technology services and software
workers. In 2010, the Indian economy rebounded robustly from the global
financial crisis - in large part because of strong domestic demand - and growth
exceeded 8% year-on-year in real terms. However, India's economic growth in
2011 slowed because of persistently high inflation and interest rates and
little progress on economic reforms. High international crude prices have
exacerbated the government's fuel subsidy expenditures contributing to a higher
fiscal deficit, and a worsening current account deficit. Little economic reform
took place in 2011 largely due to corruption scandals that have slowed legislative
work. India's medium-term growth outlook is positive due to a young population
and corresponding low dependency ratio, healthy savings and investment rates,
and increasing integration into the global economy. India has many long-term
challenges that it has not yet fully addressed, including widespread poverty,
inadequate physical and social infrastructure, limited non-agricultural
employment opportunities, scarce access to quality basic and higher education,
and accommodating rural-to-urban migration.
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
BB- (Long Term) |
|
Rating Explanation |
Moderate risk of default |
|
Date |
02.07.2012 |
|
Rating Agency Name |
CRISIL |
|
Rating |
A4+ (Short Term) |
|
Rating Explanation |
Minimal degree of safety. It carry very high credit risk |
|
Date |
02.07.2012 |
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.
LOCATIONS
|
Registered Office : |
Building # 100 Sainik Vihar, Pitampura, New Delhi-110034, India |
|
Tel. No.: |
91-11-27383624/27013408 |
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Fax No.: |
91-11-27383624 |
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E-Mail : |
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Website : |
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Corporate Office and Mining Address : |
Building # 1753/129, 1st Floor, Shanti Nagar, Tri Nagar,
New Delhi-110035, India |
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Tel. No.: |
91-11-27383623 |
|
Fax No.: |
91-11-27383624 |
DIRECTORS
AS ON 30.09.2011
|
Name : |
Mr. Deepak Chauhan |
|
Designation : |
Director |
|
Address : |
Building # 100 Sainik Vihar, Pitampura, Delhi - 110034, India |
|
Date of Appointment : |
16.01.2006 |
|
Din No.: |
01391453 |
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|
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|
Name : |
Mr. Rohit Chauhan |
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Designation : |
Director |
|
Address : |
Building # 100 Sainik Vihar, Pitampura, Delhi - 110034, India |
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Date of Appointment : |
16.01.2006 |
|
Din No.: |
01391397 |
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|
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|
Name : |
Mr. Dilbagh Singh |
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Designation : |
Director |
|
Address : |
Building # 100 Sainik Vihar, Pitampura, Delhi - 110034, India |
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Date of Appointment : |
16.01.2006 |
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Din No.: |
02126504 |
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|
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|
Name : |
Mr. Shekhar Chauhan |
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Designation : |
Director |
|
Address : |
Building # 100 Sainik Vihar, Pitampura, Delhi - 110034, India |
|
Date of Appointment : |
16.01.2006 |
|
Din No.: |
01391441 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
|
Names of Shareholders |
No. of Shares |
|
Dilbagh Singh |
2500 |
|
Deepak Chauhan |
2500 |
|
Rohit Chauhan |
2500 |
|
Shekhar Chauhan |
2500 |
|
TOTAL
|
10000 |
AS ON 30.09.2011
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Directors
or relatives of directors |
100.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Starter Armatures, Electric Armatures, Automobile
Armatures and Dynamo Armatures. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||
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Bankers : |
Oriental Bank of Commerce, LU Block, Pitampura, New Delhi-110088,
India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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|
Name : |
DRA and Company Chartered Accountants |
|
Address : |
35, Bunglow Road, New Delhi-110007, India |
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Tel. No.: |
91-11-27666357/27667360/27667414 |
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Fax No.: |
91-11-27667414 |
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E-Mail : |
|
|
Pan No.: |
AAEFD9975H |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
10000 |
Equity Shares |
Rs.10/- each |
Rs. 0.100
Million |
|
|
|
|
|
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1000000 |
Equity Shares |
Rs.10/- each |
Rs. 10.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
210000 |
Equity Shares |
Rs.10/- each |
Rs. 2.100
Millions |
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|
|
|
|
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 |
0.100 |
0.100 |
0.100 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.612 |
0.205 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
(0.003) |
|
|
NETWORTH |
0.712 |
0.305 |
0.097 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
24.215 |
3.568 |
0.000 |
|
|
2] Unsecured Loans |
9.952 |
5.795 |
1.387 |
|
|
TOTAL BORROWING |
34.167 |
9.363 |
1.387 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
34.879 |
9.668 |
1.484 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
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|
|
|
|
|
|
|
|
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FIXED ASSETS [Net Block] |
2.643 |
0.000 |
0.000 |
|
|
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 |
|
|
|
|
|
|
|
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CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.022
|
0.782 |
0.000 |
|
|
Sundry Debtors |
32.139
|
8.529 |
0.000 |
|
|
Cash & Bank Balances |
1.289
|
0.914 |
1.347 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.448
|
0.336 |
0.003 |
|
Total
Current Assets |
33.898
|
10.561 |
1.350 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
0.372
|
0.675 |
0.000 |
|
|
Other Current Liabilities |
1.162
|
0.225 |
0.020 |
|
|
Provisions |
0.205
|
0.108 |
0.000 |
|
Total
Current Liabilities |
1.739
|
1.008 |
0.020 |
|
|
Net Current Assets |
32.159
|
9.553 |
1.330 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.077 |
0.115 |
0.154 |
|
|
|
|
|
|
|
|
TOTAL |
34.879 |
9.668 |
1.484 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
43.734 |
|
|
|
|
Other Income |
|
0.095 |
|
|
|
|
TOTAL |
61.338 |
43.829 |
0.612 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
60.724 |
43.513 |
0.615 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
60.724 |
43.513 |
0.615 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
0.614 |
0.316 |
(0.003) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
0.207 |
0.109 |
0.000 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
0.407 |
0.207 |
(0.003) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.205 |
(0.002) |
NA |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
0.612 |
0.205 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
61.23 |
20.46 |
-- |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.66
|
0.47 |
(0.49) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
0.72 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.68
|
2.99 |
(0.22) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.86
|
1.04 |
(0.03) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
50.43
|
34.00 |
14.51 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
19.49
|
10.47 |
67.50 |
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 |
No |
|
5) Type of Business |
Yes |
|
6) Line of Business |
Yes |
|
7) Promoter’s background |
Yes |
|
8) No. of employees |
No |
|
9) Name of person contacted |
No |
|
10) Designation of contact person |
No |
|
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 |
No |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
No |
|
17) Major suppliers |
No |
|
18) Major customers |
No |
|
19) Payments terms |
No |
|
20) Export / Import details (if applicable) |
No |
|
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 |
|
31) Date of Birth of Proprietor/Partner/Director, if available |
No |
|
32) PAN of Proprietor/Partner/Director, if available |
No |
|
33) Voter ID No of Proprietor/Partner/Director, if available |
No |
|
34) External Agency Rating, if available |
Yes |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
This form is for |
Modification of
charge |
|
Charge
identification number of the modified |
10210286 |
|
Corporate
identity number of the company |
U31909DL2006PTC144911 |
|
Name of the
company |
FAUJI EXIM
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
Building # 100 Sainik Vihar, Pitampura, New Delhi-110034, India |
|
Type of charge |
Book Debts Movable Property Floating Charge |
|
Particular of
charge holder |
Oriental Bank of Commerce, LU Block, Pitampura, New Delhi-110088,
India |
|
Email |
|
|
Nature of description
of the instrument creating or modifying the charge |
Loan Doc - 13
being Supplemental Agreement to Secure Credit Facilities dated 20.01.2012. |
|
Date of
instrument Creating the charge |
20.01.2012 |
|
Amount secured by
the charge |
Rs.170.000 Millions
|
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per HO
Guidelines. Terms of Repayment On Demand Margin 25% Extent and Operation of the charge Full i.e. 100% |
|
Short particulars
of the property charged |
Hypothecation of
Stocks of raw material, stocks in process, semi finished goods, finished
goods, stores and spares not relating to Plant and Machinery. Bill Receivables,
Book Debt and all other movable, both present and future of the borrower,
lying or stored in the borrower premises and also include in transit for the
purpose of processing or shipment. Goods In the
course of transit or on high seas or on order or delivery, however, and
whosoever in the possession of the borrower and either by way of substitution
or addition. All fixed assets
existing and future belonging to the borrower including unencumbered plant
and machinery, land and building, furniture and fixtures, vehicles, computer
and accessories, office equipment etc. Equitable
Mortgage of Residential House Property Bearing No. 100, Sainik Vihar,
Pitampura, Delhi Measuring 300 Sq. Yards standing in the name of Smt. Santosh
Kumari. First Charge on
all the existing and future current and fixed assets of the company whether
movable or immovable. |
|
Date of latest
modification prior to the present modification |
14.06.2011 |
|
Particulars of
the present modification |
Credit Facilities
availed by M/s Fauji Exim Private Limited enhanced by Rs.100.000 Millions
from Rs.70.000 Millions to Rs. 170.000 Millions. Details as below:- BPLC
Rs.100.000 Millions (Fresh) PC/FDBP/FUDBP
Limit Rs. 70.000 Millions (Existing) |
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 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.55.15 |
|
|
1 |
Rs.88.03 |
|
Euro |
1 |
Rs.70.85 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--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 |
|
28 |
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.