MIRA INFORM REPORT
|
Report Date : |
05.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
AMON-RA IMPEX PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
63 6th Floor Atlanta Building, 209 Nariman Point Road,
Mumbai 400021, Maharashtra |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
13.07.1995 |
|
|
|
|
Com. Reg. No.: |
090543 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.1.500
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH1995PTC090543 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Subject is engaged in Carpets, Rugs, Mats and Durries. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (32) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 103584 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
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|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is an established company having a moderate track record. The
management have fail to file its latest financial with the government
department. As per previous year, the company performance seems to be
satisfactory. Trade relations are reported to be fair. Business is active.
Payments are reported to be unknown. 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.
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 |
FITCH |
|
Rating |
B+ (Long Term ) |
|
Rating Explanation |
Indicate Material default risk is present, but a united margin of
safety remains. |
|
Date |
March 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.
INFORMATION DECLINED BY
Management Non Cooperative (Name not Disclose)
LOCATIONS
|
Registered Office : |
63 6th Floor Atlanta Building, 209 Nariman Point Road,
Mumbai 400021, Maharashtra, India |
|
Tel. No.: |
91-22-22836260 / 66308518 |
|
E-Mail : |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Ashok B Rajgor |
|
Designation : |
Director |
|
Address : |
C06 Ananta Cooperative Housing Society, 762 Rajabally Patel Road,
Mumbai 400026, Maharashtra, India |
|
Date of Birth/Age : |
01.11.1961 |
|
Date of Appointment : |
18.08.1995 |
|
DIN No.: |
00597972 |
|
|
|
|
Name : |
Mrs. Kalpana K Shah |
|
Designation : |
Director |
|
Address : |
C06 Ananta Cooperative Housing Society, 762 Rajabally Patel Road,
Mumbai 400026, Maharashtra, India |
|
Date of Birth/Age : |
28.10.1961 |
|
Date of Appointment : |
13.07.1995 |
|
DIN No.: |
00598038 |
|
|
|
|
Name : |
Mr. Vithaldas K Shah |
|
Designation : |
Director |
|
Address : |
805 Rajmala 87BB Napeansea Road, Mumbai 400006, Maharashtra, India |
|
Date of Birth/Age : |
03.06.1935 |
|
Date of Appointment : |
26.04.2004 |
|
|
|
|
Name : |
Mrs. Nalini K Shah |
|
Designation : |
Director |
|
Address : |
805 Rajmala 87BB Napeansea Road, Mumbai 400006, Maharashtra, India |
|
Date of Birth/Age : |
05.01.1939 |
|
Date of Appointment : |
02.03.2009 |
|
DIN No.: |
02579256 |
|
|
|
|
Name : |
Mrs. Kirtilal V Shah |
|
Designation : |
Director |
|
DIN No.: |
00598097 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Ashok Rajgor |
|
93200 |
|
Kalpana Shah |
|
55000 |
|
N Kapadia |
|
1000 |
|
Kirtilal Shah |
|
100 |
|
N K Shah |
|
100 |
|
Utpal Kapadia |
|
500 |
|
Kusum T Bhatt |
|
10 |
|
Kusum S Bhatt |
|
10 |
|
Dharmistha R Bhatt |
|
10 |
|
Nirmala Bhatt |
|
10 |
|
Dhiren K Bhatt |
|
10 |
|
Rajan Bhatt |
|
10 |
|
Sneha Bhatt |
|
10 |
|
Kanhiyallal Bhatt |
|
10 |
|
Lilavanti Bhatt |
|
10 |
|
Navin Amarnath |
|
10 |
|
Total |
|
150000 |
AS ON 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Subject is engaged in Carpets, Rugs, Mats and Durries. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||||||||||||||||||||
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Bankers : |
Dena Bank, Zaveri Bazar Branch, 262, Ganeshwadi, Mulji Jetha Building,
Sheikh Memon Street, Mumbai 400002, Maharashtra, India |
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Facilities : |
Rs. In Millions
|
|
|
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|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
V Kannan and Associates Chartered Accountant |
|
Address : |
A207, Kanara Business Center, Ghatkopar Andheri Link Road, Ghatkopar
(East), Mumbai 400077, Maharashtra, India |
|
|
|
|
Associates/Subsidiaries : |
-- |
CAPITAL STRUCTURE
AS ON 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs.10/- each |
Rs.1.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
150000 |
Equity Shares |
Rs.10/- each |
Rs.1.500
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 |
1.500 |
1.500 |
1.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
24.396 |
18.731 |
15.342 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
25.896 |
20.231 |
16.842 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.782 |
0.641 |
0.036 |
|
|
2] Unsecured Loans |
0.000 |
5.920 |
9.165 |
|
|
TOTAL BORROWING |
0.782 |
6.561 |
9.201 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
26.678 |
26.792 |
26.043 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
8.103 |
7.883 |
6.885 |
|
|
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 |
13.302
|
15.154 |
12.394 |
|
|
Sundry Debtors |
10.397
|
6.715 |
9.679 |
|
|
Cash & Bank Balances |
1.704
|
0.040 |
0.040 |
|
|
Other Current Assets |
12.077
|
12.939 |
13.790 |
|
|
Loans & Advances |
7.408
|
4.373 |
2.953 |
|
Total
Current Assets |
44.888
|
39.221 |
38.856 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
7.529
|
9.004 |
10.512 |
|
|
Other Current Liabilities |
11.080
|
6.104 |
5.826 |
|
|
Provisions |
7.704
|
5.204 |
3.360 |
|
Total
Current Liabilities |
26.313
|
20.312 |
19.698 |
|
|
Net Current Assets |
18.575
|
18.909 |
19.158 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
26.678 |
26.792 |
26.043 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
|
SALES |
|
205.728 |
123.957 |
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
|
8.164 |
5.233 |
|
|
|
|
|
|
|
Less |
TAX |
|
2.500 |
1.845 |
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
|
5.664 |
3.388 |
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
|
-- |
-- |
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
3.96
|
4.22 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
NA |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.31
|
0.25 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.03
|
0.32 |
0.54 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.70
|
1.93 |
1.97 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS
Rs. In Millions
|
Particulars |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Hanwha Corporation |
4.420
|
8.984 |
|
|
Kyungshin International Company |
3.003
|
0.000 |
|
|
Mahasagar Stationery |
0.002
|
0.000 |
|
|
Print Care |
0.004
|
0.000 |
10.512 |
|
Sri SGR Logistics |
0.020
|
0.020 |
|
|
Tushar Bhatt and Company |
0.080
|
0.000 |
|
|
Other |
0.000
|
0.000 |
|
|
Sundry Creditors |
7.529
|
9.004 |
10.512 |
OPERATIONS
The company has made a net profit before taxation of Rs. 8.164 millions on
sales of Rs. 205.728 millions
|
Sr. No. |
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 |
-- |
|
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 |
-- |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if
available |
-- |
|
32] |
Passport No of Proprietor/Partner/Director,
if available |
-- |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
-- |
|
34] |
External Agency Rating, if available |
Yes |
FORM 8
|
Corporate
identity number of the company |
AMON-RA IMPEX PRIVATE LIMITED |
|
Name of the
company |
U51900MH1995PTC090543 |
|
Address of the
registered office or of the principal place of business in |
63 6th Floor Atlanta Building, 209 Nariman Point Road,
Mumbai 400021, Maharashtra, India |
|
This form is for |
Modification of
charge |
|
Type of charge |
Immovable
property |
|
Particular of
charge holder |
Dena Bank, Zaveri Bazar Branch, 262, Ganeshwadi, Mulji Jetha Building,
Sheikh Memon Street, Mumbai 400002, Maharashtra, India Email: zaveri@denabank.co.in
|
|
Nature of
instrument creating charge |
No instrument was
executed. Charge created by way of equitable mortgage by deposit of title
deeds by constructive delivery. |
|
Date of
instrument Creating the charge |
21.05.2012 |
|
Amount secured by
the charge |
Rs. 77.500
millions |
|
Brief of the principal
terms an conditions and extent and operation of the charge |
Rate of interest Not Applicable Terms of repayment Not Applicable Margin Not Applicable Extent and operation of the charge Security to cover
the principal amount together with interest, charges, costs, expenses etc. |
|
Short particulars
of the property charged (Including location of the property) |
Office premises
at No.3 (old), New No. 63, admg. about 660 sq. ft., on 6th Floor of the
building known as "Atlanta" situated at Atlanta Premises Co-op
Society Ltd., 209 Nariman Point, Mumbai 400021 on ground lying, being and
situated at piece of land being Plot No. 209, Block III-BBR at Backbay
Reclamation bearing Cadastral Survey No. 1950 of Fort Division together with
structures, fixtures, fittings, machinery etc. both present and future. |
|
Date of
instrument modifying the charge |
21.05.2012 |
|
Particulars of
the present modification |
Charge over
immovable property is now extended to secure the enhanced credit facilities aggregating
Rs.77.500 millions |
FIXED ASSETS:
- Motor Car
- Computer
- Modem
- Air
Conditioner
- Mobile Phone
- Office
Equipment
- Fax Machine
- Furniture and
Fixture
- Office
Building
- Plant and
Machinery
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 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.54.64 |
|
|
1 |
Rs.82.41 |
|
Euro |
1 |
Rs.70.08 |
INFORMATION DETAILS
|
Information
Gathered by : |
SVA |
|
|
|
|
Report Prepared
by : |
PRL |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
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 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--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 |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
32 |
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.