MIRA
INFORM REPORT
|
Report Date : |
05.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
NANGALWALA IMPEX PRIVATE LIMITED |
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Registered
Office : |
LU-8, Pitampura, New Delhi-110034 |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
14.02.1995 |
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Com. Reg. No.: |
55-120074 |
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Capital
Investment / Paid-up Capital : |
Rs.14.500 millions |
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CIN No.: [Company Identification
No.] |
U51909DL1995PTC120074 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Exporter of Wiring Harnesses and Auto Cables. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (42) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 270000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a satisfactory track record. There
appear dip in its sales and profitability during 2012. However, general financial position seems to be good. 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 business 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 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
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Rating |
Long term rating: BB- |
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Rating Explanation |
Having moderate risk of default regarding timely servicing of
financial obligation. |
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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.
LOCATIONS
|
Registered Office : |
LU-8, Pitampura, New Delhi-110034, |
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Tel No. : |
91-144-2332609 / 2332209 |
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Fax No. : |
91-144-2332609 |
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E-Mail : |
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Website : |
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Factory : |
F-152, F-154, M. I. A, Alwar-301001, |
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Tel No. : |
91-144-2345307 / 2332609 / 2332209 / 2881375 / 6450222 |
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Fax No. : |
91-144-2703384 / 2882336 / 2332608 |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Subhash Agarwal |
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Designation : |
Director |
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Address : |
47, Arya Nagar, Alwar-301001, |
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Date of Birth/Age : |
05.09.1956 |
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Date of Appointment : |
14.02.1995 |
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DIN No : |
00080151 |
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Other Directorship:
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Name : |
Mr. Naresh Agarwal |
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Designation : |
Director |
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Address : |
41, Moti Dugari, Alwar-301001, |
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Date of Birth/Age : |
28.01.1963 |
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Date of Appointment : |
14.02.1995 |
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DIN No : |
00365234 |
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Other Directorship:
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
NOTE: SHAREHOLDING DETAIL FILE ATTACHED
As on 29.09.2012
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Wiring Harnesses and Auto Cables |
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Products : |
· PVC Cables and Sleeves Rubber Cables and Hose Pipes Automobiles Utility Kits Auto Electrical Parts Battery Related Parts PVC Compound and Master Batch Thermo Plastic Elastomers Copper Wire Drawing Wire and Cables Auto Cable Speaker Wire Ignition Cable for petrol vehicles Battery Booster Cables |
GENERAL INFORMATION
|
Customers : |
· Singareni Collieries Company Limited Mumbai Port Trust Neyveli Lignite Corporation Karnataka Power Corporation Suzlon Energy Limited Jindal group Nec Micon BHEL Bajaj Electricals |
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No. of Employees : |
Not Available |
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Bankers : |
·
Bank of Baroda, Manu Marg, Alwar-301001, Rajasthan,
India |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Ravindra Shah and Company Chartered Accountant |
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Address : |
17, Shopping Centre, Pratap Nagar, Alwar-301001, Rajasthan, India |
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Income-tax PAN of auditor or auditor’s firm : |
AGWPS3789A |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
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|
1500000 |
Equity Shares |
Rs.10/- each |
Rs. 15.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
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|
1450000 |
Equity Shares |
Rs.10/- each |
Rs. 14.500 Millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
14.500 |
12.500 |
12.500 |
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2] Share Application Money |
0.000 |
2.000 |
0.000 |
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3] Reserves & Surplus |
52.556 |
42.240 |
30.462 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
67.056 |
56.740 |
42.962 |
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LOAN FUNDS |
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1] Secured Loans |
135.433 |
157.669 |
145.412 |
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2] Unsecured Loans |
58.924 |
51.290 |
100.728 |
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TOTAL BORROWING |
194.357 |
208.959 |
246.140 |
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DEFERRED TAX LIABILITIES |
3.201 |
1.625 |
1.468 |
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TOTAL |
264.614 |
267.324 |
290.570 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
81.808 |
71.526 |
46.329 |
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Capital work-in-progress |
0.785 |
0.078 |
0.178 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
107.269
|
103.230 |
37.669 |
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Sundry Debtors |
57.404
|
61.264 |
230.369 |
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Cash & Bank Balances |
28.355
|
10.285 |
3.324 |
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Other Current Assets |
0.013
|
0.015 |
0.000 |
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Loans & Advances |
23.222
|
47.742 |
21.077 |
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Total
Current Assets |
216.263
|
222.536 |
292.439 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
28.340
|
19.344 |
30.541 |
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Other Current Liabilities |
1.242
|
1.244 |
8.420 |
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Provisions |
4.660
|
6.228 |
9.432 |
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Total
Current Liabilities |
34.242
|
26.816 |
48.393 |
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Net Current Assets |
182.021
|
195.720 |
244.046 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.017 |
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TOTAL |
264.614 |
267.324 |
290.570 |
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PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SALES |
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Income |
564.148 |
664.766 |
430.319 |
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Other Income |
3.092 |
7.031 |
0.961 |
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TOTAL (A) |
567.240 |
671.797 |
431.280 |
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Less |
EXPENSES |
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Cost of material consumed |
476.035 |
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Employee benefit expenses |
10.371 |
10.563 |
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Other expenses |
53.131 |
66.409 |
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Preliminary exp. W/off |
0.002 |
0.002 |
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Changes in inventory of finished goods |
(36.035) |
(0.256) |
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TOTAL (B) |
503.504 |
617.491 |
387.104 |
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PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
63.736 |
54.306 |
44.176 |
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Less |
FINANCIAL
EXPENSES (D) |
39.140 |
31.075 |
16.685 |
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PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
24.596 |
23.231 |
27.491 |
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Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
9.327 |
6.186 |
5.161 |
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PROFIT BEFORE
TAX (E-F) (G) |
15.269 |
17.045 |
22.330 |
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Less |
TAX (H) |
4.954 |
5.267 |
7.818 |
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PROFIT AFTER TAX
(G-H) (I) |
10.315 |
11.778 |
14.512 |
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|
Earnings /
(Loss) Per Share (Rs.) |
7.11 |
9.42 |
11.61 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
1.82
|
1.75 |
3.36 |
|
|
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|
Net Profit Margin (PBT/Sales) |
(%) |
2.71
|
2.56 |
5.19 |
|
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Return on Total Assets (PBT/Total Assets} |
(%) |
5.12
|
5.80 |
6.59 |
|
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Return on Investment (ROI) (PBT/Networth) |
|
0.23
|
0.30 |
0.52 |
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|
Debt Equity Ratio (Total Debt/Networth) |
|
2.90
|
3.68 |
5.73 |
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Current Ratio (Current Asset/Current Liability) |
|
6.32
|
8.30 |
6.04 |
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 |
Yes |
|
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 |
Yes |
NOTE:
The Registered Office of the company has been shifted from A-29, Old
Industrial Area, Alwar-301001,
MARKETING AND SALES:
During
the financial year under consideration the world economy has face worst
recession and Indian economy too has faced the some. The Indian economy too
have slowed down and the effect has been felt by all the Industry. Therefore
the Company has registered decline growth during the year. The sales of their
company has decreased for Rs.664.766 millions to Rs. 564.143 millions
UNSECURED LOAN
|
Particulars |
31.03.2012 (Rs.
in Millions) |
31.03.2011 (Rs.
In Millions) |
|
Loans and advances from related parties (of the above, Nil is guaranteed by Directors and / or others) Terms of Repayment: on demand after one year |
34.361 |
20.662 |
|
Other Loans and advances (of the above, Nil is guaranteed by Directors and / or others) |
24.563 |
30.628 |
|
Total |
58.924
|
51.290
|
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U51909DL1995PTC120074 |
|
Name of the
company |
NANGALWALA IMPEX
PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
LU-8, Pitampura, New Delhi-110034, India E-mail: r_shah111@hotmail.com
|
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
90058897 |
|
Type of charge |
Immovable property Book debts Others (Hupothecation of inventory) |
|
Particular of charge holder |
Bank of Baroda, Manu Marg, Alwar-301001, Rajasthan, India E-mail: alwar@bankofbaroda.co.in |
|
Nature of
instrument creating charge |
Supplementray
composte agreement of hypothecation of goods, book debts, movable machinary
and vehicle. |
|
Date of
instrument Creating the charge |
08.01.2013 |
|
Amount secured by
the charge |
Rs. 198.500
millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of Interest As per sanction
letter Terms of Repayment As per sanction
letter Margin For Increase BG
-10% In Form of FDR Extent and Operation of the charge Up to Rs 198.500
millions |
|
Short particulars
of the property or asset(s) charged (including complete address and location
of the property) |
Charge over current
assets of the company and misc fixed assets of the company Extension of em
of factory land and building At Plot No. F-151 to 154 MIA Alwar Extension of em
of factory land and building situated at 19 Premier Industrial Estate Daman Em OT two housing
plots situated at Riico Residential Quarters Riico Industrial Area Mia Alwar |
|
Date of
instrument modifying the charge |
09.06.2011 |
|
Particulars of
the present modification |
Total facilities
enhanced to Rs. 198.500 millions |
FIXED ASSETS
· Air Condition
Air
Cooling Cooler
Land
Alwar
Land
Daman
Building
Factory
building (Daman)
Well
Camera
Car
(Qualies)
Activa
Scooter
Car
(Truk)
Car
(Beat)
Car
Captiva
Car
Gats
Car
Maruti
Car
Van
Cycle
Motor
Cycle
Scooter
Computer
Electrical
Installation
EPABX
Fax
Furniture
and Fixture
Generator
Invetor
Lab
Equipment
Mobile
Handset
Office
Equipment
Phot
State Machine
Printing
Machine
Plant
and Machinery
Paper
Cutting Machine
Refrigeration
Rikshaw
Cart
Tee
Coffee Machine
Tools
and Tackles
Television
Type
Machine
Water
Cooler
Washing
Machine
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 pyments 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.56.64 |
|
|
1 |
Rs.86.69 |
|
Euro |
1 |
Rs.73.97 |
INFORMATION DETAILS
|
Report Prepared
by : |
MRI |
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 |
NO |
|
--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 |
||
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.