MIRA INFORM REPORT
|
Report Date : |
23.02.2013 |
IDENTIFICATION DETAILS
|
Name : |
LIBRA INTERNATIONAL LIMITED (w.e.f.30.05.2006) |
|
|
|
|
Formerly Known
As : |
JAGDAMBEY PLASTIC INDUSTRIES PRIVATE LIMITED DEVH FOAM LIMITED DEVH FOAM PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Satish Sharma C/O Pritam Chand Aggarwal, Ward No. 5, Nalgarh - 174101,
Himachal Pradesh |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
28.03.1981 |
|
|
|
|
Com. Reg. No.: |
06-004469 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 65.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U25209HP1981PLC004469 |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACD7386B |
|
|
|
|
Legal Form : |
A Closely Held Public Limited Liability Company |
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|
|
|
Line of Business
: |
Manufacturer of Mattress and Allied Products. |
|
|
|
|
No. of Employees
: |
150 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (30) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 300000 |
|
|
|
|
Status : |
Moderate |
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|
|
|
Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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|
Comments : |
Subject is an established company having a moderate track record. Latest
financial i.e.2011-12 is missing from the Government Department. From the
previous year financial, it seems that the profitability of the company
appears to be low. However, trade relations are reported as fair. Business is
active. Payment terms are 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.
ECGC Country Risk Classification List – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
|
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
|
Source
: CIA |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
SE 2B |
|
Rating Explanation |
High performance capability and moderate
financial strength. |
|
Date |
June 30, 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 : |
Satish Sharma C/O Pritam Chand Aggarwal, Ward No. 5, Nalgarh - 174101,
Himachal Pradesh, India |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
|
|
|
Factory : |
B – 57, 2nd Floor, Sector 6, Noida - 201301, Uttar Pradesh, India |
|
Tel. No.: |
91-120-4618500 / 4618516 |
|
Fax No.: |
91-120-4618536 |
DIRECTORS
AS ON 20.09.2012
|
Name : |
Mr. Pankaj Jain |
|
Designation : |
Managing director |
|
Address : |
10-C, Court Lane, Civil Lines, Delhi - 110054, India |
|
Date of Birth/Age : |
20.10.1958 |
|
Qualification : |
BSc |
|
Date of Appointment : |
20.04.1995 |
|
DIN No.: |
00188700 |
|
|
|
|
Name : |
Mr. Prateek Jain |
|
Designation : |
Director |
|
Address : |
10-C, Court Lane, Civil Lines, Delhi - 110054, India |
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Date of Birth/Age : |
03.12.1984 |
|
Qualification : |
MBA in Finance |
|
Date of Appointment : |
17.03.2006 |
|
PAN No.: |
AEKPJ3724J |
|
DIN No.: |
00193842 |
|
|
|
|
Name : |
Mr. Pranav Jain |
|
Designation : |
Additional director |
|
Address : |
4834/ 24, Ansari Road, Darya Ganj, Delhi – 110002, India |
|
Date of Birth/Age : |
23.01.1988 |
|
Qualification : |
Higher Secondary |
|
Date of Appointment : |
27.11.2008 |
|
DIN No.: |
02444176 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 20.09.2012
|
Names of Shareholders |
No. of Shares |
% of Holding |
|
B.P. Jain (HUF) |
50000 |
0.76 |
|
Pankaj Jain |
1310611 |
20.01 |
|
Rekha Jain |
509503 |
7.78 |
|
Pankaj Jain (HUF) |
1872046 |
28.58 |
|
Prashant Jain |
351993 |
5.37 |
|
Prateek Jain |
80735 |
1.23 |
|
Pranav Jain |
111887 |
1.71 |
|
S.B. Distributors Limited, India |
2263225 |
34.56 |
|
Total |
6550000 |
100.00 |
AS ON 20.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Bodies
corporate |
|
34.55 |
|
Directors
or relatives of directors |
|
65.45 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Mattress and Allied Products. |
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Products : |
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GENERAL INFORMATION
|
No. of Employees : |
150 (Approximately) |
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Bankers : |
Punjab National Bank, Nalagarh, District Solan - 174101, Himachal
Pradesh, India |
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Facilities : |
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Banking
Relations : |
-- |
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|
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Auditors : |
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|
Name : |
S Bhatnagar and Associates Chartered Accountants |
|
Address : |
Flat No 12, 2nd
Floor, Sheel Tara House, 4866/24, Ansari Road, Darya Ganj, New Delhi –
110002, India |
|
Income-tax
PAN of auditor or auditor's firm : |
AACPB3468K |
CAPITAL STRUCTURE
AS ON 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
20,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 200.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
6,550,000 |
Equity Shares |
Rs. 10/- each |
Rs. 65.500
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 |
65.500 |
65.500 |
65.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
10.161 |
8.346 |
37.850 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
75.661 |
73.846 |
103.350 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
82.482 |
86.280 |
93.396 |
|
|
2] Unsecured Loans |
41.090 |
34.900 |
29.900 |
|
|
TOTAL BORROWING |
123.572 |
121.180 |
123.296 |
|
|
DEFERRED TAX LIABILITIES |
7.623 |
6.125 |
4.652 |
|
|
|
|
|
|
|
|
TOTAL |
206.856 |
201.151 |
231.298 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
93.717 |
87.177 |
129.914 |
|
|
Capital work-in-progress |
0.000 |
0.513 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
76.215
|
58.456 |
57.282 |
|
|
Sundry Debtors |
68.229
|
73.553 |
45.272 |
|
|
Cash & Bank Balances |
7.511
|
3.471 |
4.325 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
7.834
|
4.014 |
4.483 |
|
Total
Current Assets |
159.789
|
139.494 |
111.362 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
45.628
|
25.542 |
12.145 |
|
|
Other Current Liabilities |
8.571
|
9.530 |
8.094 |
|
|
Provisions |
0.755
|
0.485 |
0.485 |
|
Total
Current Liabilities |
54.954
|
35.557 |
20.724 |
|
|
Net Current Assets |
104.835
|
103.937 |
90.638 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
8.304 |
9.524 |
0.663 |
|
|
DEFERRED REVENUE EXPENDITURE |
0.000 |
0.000 |
10.083 |
|
|
|
|
|
|
|
|
TOTAL |
206.856 |
201.151 |
231.298 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Operating revenue, net |
343.969 |
297.743 |
238.487 |
|
|
|
Other Income |
0.476 |
1.493 |
0.326 |
|
|
|
TOTAL (A) |
344.445 |
299.236 |
238.813 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Consumption materials changes inventories |
237.138 |
207.196 |
|
|
|
|
Manufacturing service costs |
14.092 |
13.286 |
|
|
|
|
Employee related expenses |
17.060 |
17.294 |
|
|
|
|
Administrative selling other expenses |
51.481 |
40.435 |
|
|
|
|
TOTAL (B) |
319.771 |
278.211 |
218.000 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
24.674 |
21.025 |
20.813 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL EXPENSES (D) |
16.883 |
14.457 |
15.310 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
7.791 |
6.568 |
5.503 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.717 |
3.618 |
2.708 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
4.074 |
2.950 |
2.795 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
2.259 |
2.157 |
1.778 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1.815 |
0.793 |
1.017 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
7.259 |
6.466 |
5.449 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
9.074 |
7.259 |
6.466 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.28 |
0.12 |
0.15 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.53
|
0.27 |
0.43 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.18
|
0.99 |
1.17 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.61
|
1.30 |
1.16 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.05
|
0.04 |
0.03 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
1.63
|
1.64 |
1.19 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.91
|
3.92 |
5.37 |
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 |
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 |
No |
|
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 |
Yes |
|
33] |
Voter ID No of Proprietor/Partner/Director,
if available |
No |
|
34] |
External Agency Rating,
if available |
Yes |
UNSECURED LOANS
|
Unsecured Loans |
31.03.2011 |
31.03.2010 |
|
|
(Rs. In Millions) |
|
|
Loans directors unsecured |
1.738 |
0.000 |
|
Other debt unsecured |
39.352 |
34.900 |
|
Total |
41.090 |
34.900 |
RESULTS OF OPERATIONS
During the year
despite of the global economic recession which have impacted the overall profitability
of the company due to increased raw material and labour cost and reduction in
overall demand, the company has performed well and has made a net profit of Rs.
1.815 Millions as compared to Rs. 0.793 Million during the immediately previous
year. Although the company is on progressive lines, it is still below the
expectation but your directors are hopeful to improve more in future.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U25209HP1981PLC004469 |
|
Name of the
company |
LIBRA
INTERNATIONAL LIMITED |
|
Address of the
registered office or of the principal place of business in |
Satish Sharma C/O Pritam Chand Aggarwal, Ward No. 5, Nalgarh - 174101,
Himachal Pradesh, India Email: sandeep@sbassociate.com
|
|
This form is for |
Creation of charge |
|
Type of charge |
Immovable property Movable property (not being pledge) Others [Machinery Covered Under The FLC] |
|
Particular of charge
holder |
Punjab National Bank, Nalagarh, District Solan - 174101, Himachal
Pradesh, India Email: hrdhiman@pnb.co.in |
|
Nature of
description of the instrument creating or modifying the charge |
40.000 Millions
CC Hypothecation, 20.000 Millions CC book debts, 60.000 Millions LC (inc.
1.000 Millions BG) and 49.341 Millions term loan |
|
Date of
instrument Creating the charge |
08.05.2012 |
|
Amount secured by
the charge |
Rs. 169.341
Millions |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Rate of Interest As per credit
rating and terms of sanction Terms of Repayment AT SIGHT Margin 25 % Extent and Operation of the charge 100 % |
|
Short particulars
of the property charged |
Machinery land
and building at A-31, Upsidc, Sikandrabad, Up |
FIXED ASSETS:
Ø
Computer
Ø
Furniture and Fixture
Ø
Vehicles
Ø
Land and Building
Ø
Plant and Machinery
Ø
Air Conditioner
Ø
Electrical Installation
Ø
Fire Fighting Equipments
Ø
Lab Equipments
Ø
Machinery
Ø
Refrigerator
Ø
Telephone Installation
Ø
Water Cooler
Ø
Weighting Scale
Ø
Building
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. 54.43 |
|
|
1 |
Rs. 83.20 |
|
Euro |
1 |
Rs. 71.91 |
INFORMATION DETAILS
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
3 |
|
--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
30 |
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.