1. Summary Information
|
|
|
Country |
|
|
Company Name |
|
Principal Name 1 |
Mr. John Geevargeese |
|
Status |
Satisfactory |
Principal Name 2 |
Mr. Jose John Verghese |
|
|
|
Registration # |
04-007880 |
|
Street Address |
B Jadhav Chambers, 2nd Floor, |
||
|
Established Date |
06.06.1985 |
SIC Code |
-- |
|
Telephone# |
91-79-27546314-19 |
Business Style 1 |
Distributor |
|
Fax # |
91-79-27546221 |
Business Style 2 |
-- |
|
Homepage |
Product Name 1 |
Color Television |
|
|
# of employees |
Not Available
|
Product Name 2 |
Laptops |
|
Paid up capital |
Rs.45,267,000/- |
Product Name 3 |
DVD Players |
|
Shareholders |
Directors or relatives of directors 100% |
Banking |
Union Bank of |
|
Public Limited Corp. |
NO |
Business Period |
28 Years |
|
IPO |
NO |
International Ins. |
- |
|
Public |
NO |
Rating |
Ba (45) |
|
Related
Company |
|||
|
Relation
|
Country
|
Company
Name |
CEO |
|
-- |
-- |
-- |
-- |
|
Note |
- |
||
2. Summary
Financial Statement
|
Balance Sheet as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Assets |
Liabilities |
||
|
Current Assets |
78,070,000 |
Current Liabilities |
81,745,000 |
|
Inventories |
114,610,000 |
Long-term Liabilities |
46,306,000 |
|
Fixed Assets |
40,135,000 |
Other Liabilities |
20,941,000 |
|
Deferred Assets |
0,000 |
Total Liabilities |
148,992,000 |
|
Invest& other Assets |
3,000 |
Retained Earnings |
38,559,000 |
|
|
|
Net Worth |
83,826,000 |
|
Total Assets |
232,818,000 |
Total Liab. & Equity |
232,818,000 |
|
Total Assets (Previous Year) |
162,524,000 |
|
|
|
P/L Statement as of |
31.03.2012 |
(Unit: Indian Rs.) |
|
|
Sales |
1,053,508,000 |
Net Profit |
29,970,000 |
|
Sales(Previous yr) |
888,668,000 |
Net Profit(Prev.yr) |
20,298,000 |
MIRA
INFORM REPORT
|
Report Date : |
18.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
SALES INDIA PRIVATE LIMITED (w.e.f. 16.07.2009) |
|
|
|
|
Formerly Known
As : |
SALES INDIA LIMITED |
|
|
|
|
Registered
Office : |
B Jadhav Chambers, 2nd Floor, |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on)
: |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
06.06.1985 |
|
|
|
|
Com. Reg. No.: |
04-007880 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.45.267
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U29191GJ1985PTC007880 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCS6857N |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Distributor of Consumer Electronics Products. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 330000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a satisfactory track record. Trade
relations are reported to be fair. Business is active. Payments are reported
to be regular and as per commitment. The company can be considered for normal 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 – 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 |
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 : |
B Jadhav Chambers, 2nd Floor, |
|
Tel. No.: |
91-79-7546314/ 19 |
|
Fax No.: |
91-79-27546221 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
4000 Sq. Ft. |
|
Location : |
Owned |
|
|
|
|
Branches : |
Located at
|
DIRECTORS
As on: 29.09.2012
|
Name : |
Mr. John Geevargeese |
|
Designation : |
Director |
|
Address : |
Santosh Sadan, Opposite H.K House, |
|
Date of Birth/Age : |
21.09.1937 |
|
Date of Appointment : |
06.06.1985 |
|
DIN No.: |
00121828 |
|
|
|
|
Name : |
Mr. Jose John Verghese |
|
Designation : |
Managing director |
|
Address : |
Santosh Sadan, Opposite H.K House, |
|
Date of Birth/Age : |
06.06.1966 |
|
Date of Appointment : |
06.06.1985 |
|
DIN No.: |
01179345 |
|
|
|
|
Name : |
Mrs. Chandramati John Verghese |
|
Designation : |
Director |
|
Address : |
Santosh Sadan, Opposite H.K House, |
|
Date of Birth/Age : |
30.04.1941 |
|
Date of Appointment : |
20.01.2002 |
|
DIN No.: |
02245648 |
|
|
|
|
Name : |
Mrs. Jessica Jose John |
|
Designation : |
Director |
|
Address : |
Santosh Sadan, Opposite H.K House, |
|
Date of Birth/Age : |
28.04.1994 |
|
Date of Appointment : |
25.06.2012 |
|
DIN No.: |
05311926 |
|
|
|
|
Name : |
Mr. Joy Jose John |
|
Designation : |
Director |
|
Address : |
Santosh Sadan, Opposite H.K House, |
|
Date of Birth/Age : |
28.04.1994 |
|
Date of Appointment : |
25.06.2012 |
|
DIN No.: |
05312773 |
MAJOR SHAREHOLDERS
As on: 29.09.2012
|
Names of Equity Shareholders |
|
No. of Shares |
|
John Geevargeese |
|
1982475 |
|
Jose John |
|
1394100 |
|
Chandramati John |
|
571500 |
|
Sunita Vakta |
|
257625 |
|
Dipika jose |
|
4275 |
|
Joy Jose |
|
58050 |
|
Jessica John |
|
25650 |
|
Total |
|
4293675 |
|
Names of Preference Shareholders |
|
No. of Shares |
|
|
|
4000 |
|
Emmanuel
John Daniel |
|
600 |
|
Harold
Arnold Soloman |
|
5000 |
|
Minor.
Jeshurun Harold Soloman |
|
2800 |
|
Minor.Jerrice
Harold Soloman |
|
4800 |
|
Sunita
Vakta |
|
20000 |
|
John
Geevargese |
|
101800 |
|
Jose
John |
|
11800 |
|
Mrs.
Chandramati John |
|
6000 |
|
Jessica John |
|
45000 |
|
Joy Jose |
|
31200 |
|
Total |
|
233000 |
Equity Share Break up (Percentage of Total Equity)
As on: 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributor of Consumer Electronics Products. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Bankers : |
|
||||||||||||||||||
|
|
|
||||||||||||||||||
|
Facilities : |
(Rs.
In Millions)
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Paras F. Jain and Company Chartered Accountant |
|
Address : |
3rd Floor, Meera Chambers, Opposite Syndicate Bank, Kadia Kui Relief Road, Ahmedabad – 380001, Gujarat, India |
|
PAN No.: |
AATPJ9113C |
CAPITAL STRUCTURE
As on: 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4500000 |
Equity Shares |
Rs.10/- each |
Rs.45.000 Millions |
|
500000 |
Preference Shares |
Rs.10/- each |
Rs.5.000 Millions |
|
|
Total |
|
Rs.50.000
Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4293675 |
Equity Shares |
Rs.10/- each |
Rs.42.937
Millions |
|
233000 |
Preference Shares |
Rs.10/- each |
Rs.2.330
Millions |
|
|
Total |
|
Rs.45.267 Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
45.267 |
21.413 |
21.413 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
38.559 |
32.714 |
12.687 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
83.826 |
54.127 |
34.100 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
42.406 |
27.814 |
48.788 |
|
|
2] Unsecured Loans |
3.900 |
3.900 |
1.200 |
|
|
TOTAL BORROWING |
46.306 |
31.714 |
49.988 |
|
|
DEFERRED TAX LIABILITIES |
0.096 |
0.096 |
0.095 |
|
|
|
|
|
|
|
|
TOTAL |
130.228 |
85.937 |
84.183 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
40.135 |
31.314 |
26.514 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.003 |
0.003 |
0.004 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
114.610
|
100.751 |
67.182
|
|
|
Sundry Debtors |
19.583
|
4.328 |
7.049
|
|
|
Cash & Bank Balances |
29.307
|
7.669 |
20.168
|
|
|
Other Current Assets |
0.232
|
0.075 |
0.000
|
|
|
Loans & Advances |
28.948
|
18.384 |
9.567
|
|
Total
Current Assets |
192.680
|
131.207 |
103.966 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
51.296
|
47.969 |
39.903
|
|
|
Other Current Liabilities |
30.449
|
14.314 |
3.405
|
|
|
Provisions |
20.845
|
14.304 |
2.993
|
|
Total
Current Liabilities |
102.590
|
76.587 |
46.301 |
|
|
Net Current Assets |
90.090
|
54.620 |
57.665
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
130.228 |
85.937 |
84.183 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
|
888.668 |
726.524 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL |
1053.508 |
888.668 |
726.524 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
NA |
NA |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
29.970 |
20.298 |
5.351 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
6.62 |
NA |
NA |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
2.84
|
2.28 |
0.74 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
0.59
|
0.59 |
1.47 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.88
|
1.71 |
2.24 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
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 |
Yes |
|
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 |
No |
FINANCIAL RESULTS:
During the year, the Company has earned the profit (after tax) of Rs. 29.970 Millions (Previous year Rs. 20.298 Millions). However, with a view to strengthen the financial position of the company, the Directors do not recommend any dividend on Equity Shares. At the same time, your Directors are please to recommend dividend @ 10% on 10% Redeemable Preference Shares of Rs. 10/- each.
OPERATIONS:
During the year, the performance of the company was quite encouraging. The sales of the company have increased to Rs. 1053.508 Millions as against the previous year's sale of Rs. 888.668 Millions showing significant rise in sales during the year under report. This is the result of the efforts put up by the Directors assisted by the Executives of the company.
The products marketed by the company are very well received by the Customers and all efforts are being made to see that the company achieves new heights of sales and profits in the years to come.
UNSECURED LOAN:
(Rs. in Millions)
|
Particulars |
As
on 31.03.2012 |
As
on 31.03.2011 |
|
LONG TERM
BORROWINGS |
|
|
|
Loans and advances from related parties |
3.900 |
3.900 |
|
Total |
3.900 |
3.900 |
FIXED ASSETS:
- Land
- Building
- Plant and
Machinery
- Vehicle
- Computer and
Printer
- Furniture and
Fixture
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 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.53.94 |
|
|
1 |
Rs.82.77 |
|
Euro |
1 |
Rs.71.05 |
INFORMATION DETAILS
|
Report Prepared
by : |
RAJ |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--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 |
|
--DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
45 |
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.