MIRA INFORM REPORT

 

 

Report Date :

25.04.2013

 

IDENTIFICATION DETAILS

 

Name :

EGO WALL DÉCOR PRIVATE LIMITED

 

 

Registered Office :

419-D, Joshiwadi, 2nd Floor, Kalbadevi Road, Mumbai-400002, Maharashtra

 

 

Country :

India

 

 

Financials (as on) :

31.03.2012

 

 

Date of Incorporation :

14.03.2008

 

 

Com. Reg. No.:

11-180079

 

 

Capital Investment / Paid-up Capital :

Rs. 0.100 Million

 

 

CIN No.:

[Company Identification No.]

U20213MH2008PTC180079

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Trader and Importer of Wall Papers

 

 

No. of Employees :

Not Available

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba (42)

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 12000

 

 

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 usually correct and as per commitment.

 

The company can be considered for normal business is dealings at usual trade terms and condition.

 

 

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 :

419-D, Joshiwadi, 2nd Floor, Kalbadevi Road, Mumbai-400002, Maharashtra, India 

Tel. No.:

91-22-23787500

Fax No.:

91-22-23726452

E-Mail :

roshan@egofloor.com

sales@egoflooring.com

sales@egowalldecor.com  

Website :

www.egowalldecor.com

 

 

Head Office :

2nd Floor, Prem Estate, Mustapa Bazar, Mumbai-400010, Maharashtra, India

Tel. No.:

91-22-66847500

 

 

DIRECTORS

 

AS ON 30.09.2011

 

Name :

Mr. Roshan Ramesh Bisani

Designation :

Director

Address :

62, Ameeta Building, Sachiwalay, Mumbai-400021, Maharashtra, India

Date of Birth/Age :

09.05.1975

Date of Appointment :

14.03.2008

DIN No.:

01681140

 

 

Name :

Ms. Shivani Amish Dani

Designation :

Director

Address :

Flat No.9, 2nd Floor, Ameeta 7, General Bhosale Marg, Nariman Point-400021, Mumbai-400021, Maharashtra, India

Date of Birth/Age :

13.05.1978

Date of Appointment :

14.03.2008

DIN No.:

00625471

 

 

MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN

 

AS ON 30.09.2011

 

Names of Shareholders

No. of Shares

Roshan Ramesh Bisani

5000

Shivani Amish Dani

2500

Sandeep Mahesh Agarwal

2500

TOTAL

10000

 

AS ON 30.09.2011

 

Equity Shares Break Up

Percentage of Holding

Directors or relatives of Directors

100.00

TOTAL

100.00

 

 

BUSINESS DETAILS

 

Line of Business :

Trader and Importer of Wall Papers

 

 

GENERAL INFORMATION

 

No. of Employees :

Not Available

 

 

Bankers :

·         Kotak Bank Limited

 

 

Facilities :

Secured Loan

 

Rs. In Millions

31.03.2012

Rs. In Millions

31.03.2011

Long Term Borrowings

 

 

Business Loan

0.000

0.307

Short Term Borrowings

 

 

Overdraft from Kotak Bank Limited

0.000

0.772

Current Maturities of Long Term borrowings

0.307

0.541

TOTAL

0.307

1.620

 

NOTES

 

Long Term Borrowings

 

Additional Information

 

Business loan

 

a)       Business loan is secured by personal guarantee of directors and corporate guarantee of group company, Ego Flooring Private Limited.

 

b)       The same is repayable in 36 equitable installments @17.5% per annum. 6 installments are pending to be paid as on 31st March 2012.

 

Loan from Directors, shareholder and relatives is payable on demand. However, the same is not payable in the immediate for seeable future. The management  has considered the same as long term borrowings

 

Short Term Borrowings

 

Additional Information

 

Details of security for overdraft

 

Overdraft are secured by corporate Guarantee of Group company, Ego Flooring Private Limited. The Overdraft carries a Rate of Inertest of 18.5% and the facility / repayment is subject to yearly review.

 

Overdraft have been guaranteed by directors

 

1.       Roshan Bisani (Director)

2.       Shivani Dani (Director)

 

 

 

Banking Relations :

--

 

 

Auditors :

 

Name :

CLB and Associates

Chartered Accountant

Address :

77, Mulji Jetha Building, 3rd Floor, 185/187, Princess Street, Marine Lines, Mumbai-400002, Maharashtra, India

Tel. No.:

91-22-22052224 / 22066860

Fax No.:

91-22-22052224

E-Mail :

info@clb.co.in

PAN No.:

AAEFC1382K

 

 

Associates :

·         Ego Flooring Private Limited

·         Blue Mango Seatings Private Limited

·         Ego Care

 

 

CAPITAL STRUCTURE

 

AS ON 31.03.2012

 

Authorised Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

10000

Equity Shares

Rs.10/- each

Rs. 0.100 Million

 

 

 

 

 

Issued, Subscribed & Paid-up Capital :

 

No. of Shares

Type

Value

Amount

 

 

 

 

10000

Equity Shares

Rs.10/- each

Rs. 0.100 Million

 

 

 

 

 

 

 

 

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

0.100

0.100

0.100

2] Share Application Money

0.000

0.000

0.000

3] Reserves & Surplus

3.035

1.771

0.516

4] (Accumulated Losses)

0.000

0.000

0.000

NETWORTH

3.135

1.871

0.616

LOAN FUNDS

 

 

 

1] Secured Loans

0.307

1.620

2.269

2] Unsecured Loans

1.193

1.468

0.525

TOTAL BORROWING

1.500

3.088

2.794

DEFERRED TAX LIABILITIES

0.017

0.016

0.013

 

 

 

 

TOTAL

4.652

4.975

3.423

 

 

 

 

APPLICATION OF FUNDS

 

 

 

 

 

 

 

FIXED ASSETS [Net Block]

0.316

0.195

0.114

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
2.393

2.362

4.428

 

Sundry Debtors
12.760

9.826

6.489

 

Cash & Bank Balances
0.193

0.385

0.031

 

Other Current Assets
0.809

0.544

0.000

 

Loans & Advances
0.559

0.444

1.615

Total Current Assets
16.714

13.561

12.563

Less : CURRENT LIABILITIES & PROVISIONS
 

 

 

 

Sundry Creditors
6.904

5.481

8.444

 

Other Current Liabilities
4.146

2.437

0.414

 

Provisions
1.328

0.863

0.402

Total Current Liabilities
12.378

8.781

9.260

Net Current Assets
4.336

4.780

3.303

 

 

 

 

MISCELLANEOUS EXPENSES

0.000

0.000

0.006

 

 

 

 

TOTAL

4.652

4.975

3.423

 

PROFIT & LOSS ACCOUNT

 

 

PARTICULARS

31.03.2012

31.03.2011

31.03.2010

 

 

SALES

 

 

 

 

 

Income

48.502

38.143

24.872

 

 

Other Income

 

 

 

 

 

TOTAL                                    

48.502

38.143

24.872

 

 

 

 

 

Less

EXPENSES

 

 

 

 

 

Office Expenses

44.699

34.680

24.359

 

 

Administrative Expenses

 

 

 

 

 

Advertising Expenses

 

 

 

 

 

TOTAL                                    

44.699

34.680

24.359

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION

3.803

3.463

0.513

 

 

 

 

 

Less/ Add

DEPRECIATION/ AMORTISATION                    

1.934

1.761

0.278

 

 

 

 

 

 

PROFIT / (LOSS) BEFORE TAX

1.869

1.702

0.235

 

 

 

 

 

Less

TAX                                                                 

0.605

0.447

0.167

 

 

 

 

 

 

PROFIT / (LOSS) AFTER TAX

1.264

1.255

0.068

 

 

 

 

 

Add

PREVIOUS YEARS’ BALANCE BROUGHT FORWARD

1.771

0.516

0.448

 

 

 

 

 

 

BALANCE CARRIED TO THE B/S

3.035

1.771

0.516

 

 

 

 

 

 

IMPORTS

 

 

 

 

 

Goods Traded

15.005

11.320

NA

 

TOTAL IMPORTS

15.005

11.320

NA

 

 

 

 

 

 

Earnings Per Share (Rs.)

126.00

125.00

--

 

 

KEY RATIOS

 

PARTICULARS

 

 

31.03.2012

31.03.2011

31.03.2010

PAT / Total Income

(%)
2.61

3.29

0.27

 

 
 

 

 

Return on Total Assets

(PBT/Total Assets}

(%)
10.97

12.37

1.85

 

 
 

 

 

Return on Investment (ROI)

(PBT/Networth)

 
0.60

0.91

0.38

 

 
 

 

 

Debt Equity Ratio

(Total Debt /Networth)

 
0.48

1.65

4.54

 

 
 

 

 

Current Ratio

(Current Asset/Current Liability)

 
1.35

1.54

1.36

 

 

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

Yes

17]

Major suppliers

No

18]

Major customers

No

19]

Payments terms

No

20]

Export / Import details (if applicable)

Yes

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

 

 

Unsecured Loan

 

Rs. In Millions

31.03.2012

Rs. In Millions

31.03.2011

Directors, Shareholders and Relatives

1.193

1.468

 

 

 

TOTAL

1.193

1.468

 

 

FIXED ASSETS

 

·         Plant and Machinery

·         Furniture and Fixtures

·         Office Equipments

·         Computers and Printers

 

 

 

CMT REPORT (Corruption, Money Laundering & Terrorism]

 

The Public Notice information has been collected from various sources including but not limited to: The Courts, India Prisons Service, Interpol, etc.

 

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. 54.29

UK Pound

1

Rs. 82.87

Euro

1

Rs. 70.80

 

 

INFORMATION DETAILS

 

Report Prepared by :

DPT


 

SCORE & RATING EXPLANATIONS

 

SCORE FACTORS

 

RANGE

POINTS

HISTORY

1~10

5

PAID-UP CAPITAL

1~10

5

OPERATING SCALE

1~10

4

FINANCIAL CONDITION

 

 

--BUSINESS SCALE

1~10

4

--PROFITABILIRY

1~10

5

--LIQUIDITY

1~10

5

--LEVERAGE

1~10

5

--RESERVES

1~10

5

--CREDIT LINES

1~10

4

--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

YES

--LISTED

YES/NO

NO

--OTHER MERIT FACTORS

YES/NO

YES

DEFAULTER

 

 

--RBI

YES/NO

NO

--EPF

YES/NO

NO

TOTAL

 

42

 

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

-

 

 

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.