|
Report Date : |
02.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
RAJ ENTERPRISES |
|
|
|
|
Registered
Office : |
Unit No.319, 3rd Floor, Vikash Surya Shopping Mall,
Mangalam Palace, Sector – 3, Rohini, New Delhi – 110085 |
|
|
|
|
Country : |
|
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Year of
Establishment : |
2009 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 26.174 Millions |
|
|
|
|
TIN No.: |
07820361152 |
|
|
|
|
PAN No.: [Permanent Account No.] |
CKZPS2372G |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business
: |
Trader and Dealer of Ferrous and Non Ferrous Metals. |
|
|
|
|
No. of Employees
: |
17 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (43) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 100000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established proprietary having a satisfactory track
record. Trade relations are reported as decent. Business is active. Payment
terms are slow but correct. The concern can be considered 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.
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 |
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. Suresh |
|
Designation : |
Proprietor |
|
Contact No.: |
91-8744047884 |
|
Date : |
31.01.2013 |
LOCATIONS
|
Registered Office : |
Unit No.319, 3rd Floor, Vikash Surya Shopping Mall, Mangalam
Palace, Sector – 3, Rohini, New Delhi – 110085, India |
|
Tel. No.: |
Not Available |
|
Mobile No.: |
91-8744047884/9811568221/8527320498 (Mr. Suresh) |
|
Fax No.: |
Not Available |
|
E-Mail : |
SOLE PROPRIETOR
|
Name : |
Mr. Suresh |
|
Designation : |
Proprietor |
|
Address : |
|
|
Date of Birth/Age : |
45 Years |
|
Qualification : |
Graduate |
|
Experience : |
23 Years |
BUSINESS DETAILS
|
Line of Business : |
Trader and Dealer of Ferrous and Non Ferrous Metals |
|
|
|
|
Terms : |
|
|
Selling : |
Cash, Credit (30 Days) |
|
|
|
|
Purchasing : |
Cash, Credit (30 Days) |
GENERAL INFORMATION
|
Customers : |
Retailers and Others |
|
|
|
|
No. of Employees : |
17 (Approximately) |
|
|
|
|
Bankers : |
Union Bank of India, Delhi, India |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Pawan Kumar and Associates Chartered Accountant |
CAPITAL STRUCTURE
AS ON 31.03.2012
|
Capital Accounts : |
|
|
Opening Balance |
Rs. 25.644 Millions |
|
Add : Profit |
Rs. 0.595 Millions |
|
Add : Addition |
Rs. 0.185 Millions |
|
Less : Drawings |
Rs. 0.250 Millions |
|
Total : |
Rs. 26.174
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 |
26.174 |
25.594 |
25.350 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
26.174 |
25.594 |
25.350 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
1.500 |
1.500 |
1.350 |
|
|
TOTAL BORROWING |
1.500 |
1.500 |
1.350 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
27.674 |
27.094 |
26.700 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
2.722 |
3.093 |
3.503 |
|
|
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 |
11.254
|
8.545 |
5.599 |
|
|
Sundry Debtors |
36.146
|
37.318 |
34.578 |
|
|
Cash & Bank Balances |
0.413
|
0.409 |
0.645 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.000
|
0.000 |
0.000 |
|
Total
Current Assets |
47.813
|
46.272 |
40.822 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
21.036
|
20.527 |
16.011 |
|
|
Other Current Liabilities |
1.689
|
1.614 |
1.614 |
|
|
Duties and Taxes |
0.136
|
0.130 |
0.000 |
|
Total
Current Liabilities |
22.861
|
22.271 |
17.625 |
|
|
Net Current Assets |
24.952
|
24.001 |
23.197 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
27.674 |
27.094 |
26.700 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
||
|
|
SALES |
|
|
|
||
|
|
|
Income |
554.859 |
524.803 |
514.036 |
|
|
|
|
Other Income |
0.000 |
0.000 |
0.000 |
|
|
|
|
TOTAL |
554.859 |
524.803 |
514.036 |
|
|
|
|
|
|
|
||
|
Less |
EXPENSES |
|
|
|
||
|
|
|
Cost of Goods Sold |
540.548 |
511.196 |
501.452 |
|
|
|
|
Advertisement |
0.298 |
0.285 |
0.260 |
|
|
|
|
Audit Fees |
0.025 |
0.025 |
0.025 |
|
|
|
|
Bank Charges |
0.021 |
0.019 |
0.019 |
|
|
|
|
Books and Periodicals |
0.024 |
0.018 |
0.017 |
|
|
|
|
Commission on Sales |
1.325 |
1.219 |
1.026 |
|
|
|
|
Conveyance Expenses |
0.547 |
0.531 |
0.514 |
|
|
|
|
Discount |
0.801 |
0.794 |
0.645 |
|
|
|
|
Freight and Cartage Outward |
1.366 |
1.250 |
1.164 |
|
|
|
|
Generator Running and Maintenance |
0.526 |
0.519 |
0.498 |
|
|
|
|
Handling and Freight |
0.912 |
0.863 |
0.805 |
|
|
|
|
Internet Charges |
0.036 |
0.035 |
0.032 |
|
|
|
|
Legal Charges |
0.190 |
0.200 |
0.160 |
|
|
|
|
Loading and Unloading Charges |
0.683 |
0.615 |
0.615 |
|
|
|
|
Medical Reimbursement A/c |
0.396 |
0.386 |
0.369 |
|
|
|
|
Office Expenses |
0.601 |
0.570 |
0.517 |
|
|
|
|
Office Maintenance Expenses |
0.721 |
0.742 |
0.706 |
|
|
|
|
Postage and Courier |
0.075 |
0.069 |
0.066 |
|
|
|
|
Printing and Stationary Expenses |
0.026 |
0.021 |
0.022 |
|
|
|
|
Rent A/c |
0.300 |
0.270 |
0.250 |
|
|
|
|
Repair and Maintenance Expenses |
0.052 |
0.051 |
0.048 |
|
|
|
|
Salary Account |
2.010 |
1.875 |
1.808 |
|
|
|
|
Security Service Charges |
0.075 |
0.071 |
0.070 |
|
|
|
|
Staff Welfare Expenses |
0.210 |
0.199 |
0.196 |
|
|
|
|
Telephone Expenses |
0.188 |
0.183 |
0.172 |
|
|
|
|
Vehicle Insurance Expenses |
0.019 |
0.021 |
0.020 |
|
|
|
|
Vehicle Running and Maintenance |
0.469 |
0.417 |
0.407 |
|
|
|
|
Water and Electricity Expenses |
0.302 |
0.294 |
0.289 |
|
|
|
|
Direct Expenses |
1.148 |
1.085 |
0.868 |
|
|
|
|
TOTAL |
553.894 |
523.823 |
513.040 |
|
|
|
|
|
|
|
||
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
0.965 |
0.980 |
0.996 |
||
|
|
|
|
|
|
||
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.371 |
0.436 |
0.491 |
||
|
|
|
|
|
|
||
|
|
NET PROFIT |
0.594 |
0.544 |
0.505 |
||
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Net Profit Margin (PBT/Sales) |
(%) |
0.11
|
0.10 |
0.10 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.17
|
1.10 |
1.14 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.02 |
0.02 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
0.06
|
0.06 |
0.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.09
|
2.08 |
2.32 |
Note : Sole Proprietory and Partnership concerns are
exempted from filing their financials with the Government Authorities or
Registry.
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 |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact
person |
Yes |
|
11] |
Turnover of firm for last
three years |
Yes |
|
12] |
Profitability for last
three years |
No |
|
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 |
Yes |
|
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 |
No |
|
25] |
Conduct of the banking
account |
----- |
|
26] |
Buyer visit details |
----- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if
applicable |
No |
|
29] |
Last accounts filed at
ROC |
No |
|
30] |
Major Shareholders, if
available |
No |
|
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
|
Particulars |
Rs.
In Millions 31.03.2012 |
Rs.
In Millions 31.03.2011 |
|
Unsecured Loan |
1.500 |
1.500 |
|
TOTAL |
1.500 |
1.500 |
FIXED ASSETS
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.53.28 |
|
|
1 |
Rs.84.22 |
|
Euro |
1 |
Rs.72.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
SPR |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
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 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
|
TOTAL |
|
43 |
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.