MIRA INFORM REPORT
|
Report Date : |
08.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
NEW HRIZON KNITS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
112 A, Apra Plaza, Community Center, Pitampura, New Delhi-110034 |
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|
Country : |
India |
|
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|
Financials (as
on) : |
31.03.2012 |
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|
|
Date of
Incorporation : |
11.03.2004 |
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|
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Com. Reg. No.: |
55-125121 |
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|
|
|
Capital Investment
/ Paid-up Capital : |
Rs. 29.500 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U18101DL2004PTC125121 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
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|
Line of Business
: |
Manufacturer of Mens Socks, Ladies Socks and Kids Socks |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (33) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 140000 |
|
|
|
|
Status : |
Moderate |
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|
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Payment Behaviour : |
Slow But Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record.
There appears slight dip in the profitability during 2012. The reserves of
the company seem to be insufficient. However, trade relations are
reported to be fair business is active. Payments are slow but correct. 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
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.
INFORMATION DECLINED BY
Management Non Co-operative
LOCATIONS
|
Registered Office : |
112 A, Apra Plaza, Community Center, Pitampura, New Delhi-110034,
India |
|
Tel. No.: |
91-11-45620270 |
|
Fax No.: |
Not Available |
|
E-Mail : |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Ravi Chamria |
|
Designation : |
Director |
|
Address : |
62, Ambika Vihar, Paschim Vihar, New Delhi-110087, India |
|
Date of Birth/Age : |
14.01.1977 |
|
Date of Appointment : |
11.03.2004 |
|
DIN No.: |
00470989 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U74899DL1994PTC057799 |
BRIGHTER
HOSIERY PRODUCTS PRIVATE LIMITED |
Director |
26-03-99 |
26-03-99 |
12-01-09 |
Active |
NO |
|
2 |
U74899DL1995PTC067954 |
BRIGHTER
CAFIN PRIVATE LIMITED |
Director |
28-06-02 |
28-06-02 |
- |
Active |
NO |
|
3 |
U18101DL2004PTC125121 |
NEW
HORIZON KNITS PRIVATE LIMITED |
Director |
11-03-04 |
11-03-04 |
- |
Active |
NO |
|
Name : |
Mr. Shyam Sunder Chamria |
|
Designation : |
Director |
|
Address : |
62, Ambika Vihar, Paschim Vihar, New Delhi-110087, India |
|
Date of Birth/Age : |
14.01.1977 |
|
Date of Appointment : |
01.12.2009 |
|
DIN No.: |
01895551 |
Other Directorship:
|
S.No. |
CIN/LLPIN |
Name
of the Company/ LLP |
Current
designation of the Director/ Designated Partner |
Date
of appointment at current designation |
Original
date of appointment |
Date
of cessation |
Company/
LLP Status |
Defaulting
status |
|
1 |
U74899DL1994PTC057799 |
BRIGHTER
HOSIERY PRODUCTS PRIVATE LIMITED |
Director |
08-03-94 |
08-03-94 |
01-12-09 |
Active |
NO |
|
2 |
U74899DL1994PTC058560 |
BRIGHTER
PRODUCTS INDIA PRIVATE LIMITED |
Director |
22-04-94 |
22-04-94 |
01-05-12 |
Active |
NO |
|
3 |
U18101DL2004PTC125121 |
NEW HORIZON
KNITS PRIVATE LIMITED |
Director |
30-09-10 |
01-12-09 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
No. of Shares |
|
Ravi Chamria |
1133000 |
|
Shyam Sunder Chamria |
302500 |
|
Shyam Sunder Ravi Prakash (HUF) |
825000 |
|
Kirni Devi Chamria |
32000 |
|
Sushila Devi Chamria |
52500 |
|
Brighter Cafin Private Limited |
415000 |
|
Banshi Commosale Private Limited |
20000 |
|
Bhootnath Distributors Private Limited |
170000 |
|
TOTAL
|
2950000 |
AS ON 29.09.2012
|
Equity Shares
Break Up |
Percentage of
Holding |
|
Bodies corporate |
21.00 |
|
Directors or relatives of Directors |
79.00 |
|
TOTAL |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Mens Socks, Ladies Socks and Kids Socks |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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Bankers : |
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Facilities : |
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Banking Relations
: |
-- |
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Auditors : |
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|
Name : |
M L Singhi and Associates Chartered Accountant |
|
Address : |
M-3, Group Tower, Azadpur Commercial Compelx, Azadpur, Delhi-110033,
India |
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Tel. No.: |
91-11-27673778 / 27673969 |
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PAN No.: |
ABVPA6073D |
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Related Parties : |
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CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3000000 |
Equity Shares |
Rs.10/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
2950000 |
Equity Shares |
Rs.10/- each |
Rs. 29.500
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 |
29.500 |
29.500 |
29.500 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
7.237 |
4.455 |
1.044 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
36.737 |
33.955 |
30.544 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
67.242 |
72.078 |
69.330 |
|
|
2] Unsecured Loans |
11.076 |
10.619 |
3.001 |
|
|
TOTAL BORROWING |
78.318 |
82.697 |
72.331 |
|
|
DEFERRED TAX LIABILITIES |
6.073 |
5.945 |
6.375 |
|
|
|
|
|
|
|
|
TOTAL |
121.128 |
122.597 |
109.250 |
|
|
|
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|
|
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APPLICATION OF FUNDS |
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|
|
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|
|
|
|
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|
FIXED ASSETS [Net Block] |
47.149 |
41.376 |
47.801 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.209 |
0.209 |
0.208 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
94.855
|
70.501 |
54.554 |
|
|
Sundry Debtors |
22.290
|
23.829 |
17.908 |
|
|
Cash & Bank Balances |
2.592
|
4.261 |
5.603 |
|
|
Other Current Assets |
0.664
|
0.574 |
0.574 |
|
|
Loans & Advances |
6.474
|
11.656 |
3.436 |
|
Total
Current Assets |
126.875
|
110.821 |
82.075 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
46.730
|
23.685 |
|
|
|
Other Current Liabilities |
5.640
|
5.498 |
20.295 |
|
|
Provisions |
0.735
|
0.626 |
0.581 |
|
Total
Current Liabilities |
53.105
|
29.809 |
20.876 |
|
|
Net Current Assets |
73.770
|
81.012 |
61.199 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.042 |
|
|
|
|
|
|
|
|
TOTAL |
121.128 |
122.597 |
109.250 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
NA |
121.957 |
102.300 |
|
|
|
Other Income |
NA |
NA |
NA |
|
|
|
TOTAL |
NA |
NA |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
NA |
126.521 |
113.167 |
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
BEFORE TAX |
NA |
3.057 |
3.463 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
NA |
(0.354) |
0.061 |
|
|
|
|
|
|
|
|
|
|
PROFIT / (LOSS)
AFTER TAX |
2.783 |
3.411 |
3.402 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
1.852 |
1.275 |
NA |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.94 |
1.16 |
1.15 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
Net Profit Margin (PBT/Sales) |
(%) |
NA
|
2.51 |
3.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA
|
2.01 |
2.67 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
NA
|
0.09 |
0.11 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.13
|
2.44 |
2.37 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.39
|
3.72 |
3.93 |
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 |
|
Long Term
Borrowing |
|
|
|
From Other |
|
|
|
Loan taken from NSIC |
1.412 |
1.451 |
|
Loan taken from Other Parties |
9.664 |
9.168 |
|
|
|
|
|
TOTAL |
11.076 |
10.619 |
FINANCIAL RESULTS
Financial results
of the Company dealt with by this report reveals net profit of Rs. 2.783 Millions
for the year as compared to the previous year profit of Rs 3.411 Millions. The
Directors are hopeful of achieving better results in the forthcoming year
FORM 8
|
Corporate
identity number of the company |
U18101DL2004PTC125121 |
|
Name of the
company |
NEW HRIZON KNITS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
112 A, Apra Plaza, Community Center, Pitampura, New Delhi-110034, India |
|
This form is for |
Modification of
charge |
|
Charge
identification number of the charge to be modified |
80029378 |
|
Type of charge |
|
|
Particular of
charge holder |
Punjab National Bank, Railway Road, Bahadurgarh-124507, Haryana, India |
|
Nature of
instrument creating charge |
|
|
Date of
instrument Creating the charge |
26.07.2012 |
|
Amount secured by
the charge |
Rs. 113.000
Millions |
|
Brief of the
principal terms an conditions and extent and operation of the charge |
Rate of interest CC Limit : BR+4.25%
i.e. 14.75% at present subject to change as per RBI/HO guidelines to be
levied on monthly basis. PC : BR + 0.75%
(Presently 11.25%) or as per directives of HO*RBI from time to time. Terms of repayment Within 12 Months
/ as per the agreement Margin CC and PC Limit :
25% or as amended from time to time by RBI / HO. FOBP / FOUBP –
Nil Foreign / Inland
letter of credit-10% Bank Guarantee :
10% And as per
agreement. Extent and operation of the charge The change shall
operate as a first charge on the Assets hypothecation and mortgaged. |
|
Short particulars
of the property charged (Including location of the property) |
Stock of RM, WIP,
FG and Store and Spares and Book Debts and other Current Assets stored in premises
and godwon situated at Village Hasa Garh, Thesil Sapla, District Rohtak,
Haryana Collateral
Security-Industrial Plot and Building situated at O-3, Old Industrial Area,
Bahadurgarh, measuring 4165 sq. yds. And other properties as per agreement. Personal Security
of Directors : Mr. Ravi Chamaria and Mr. Shyam Sunder Chamaria-Directors and
Ms. Kirani Devi Chamaria, Guarantor. Corporate
Guarantee of Brighter Cafin Private Limited (CIN : U74899DL1995PTC067954) |
|
Date of
instrument modifying the charge |
12.05.2011 |
|
Particulars of
the present modification |
CC/PC Limit
enhanced from Rs. 55.000 Million to Rs. 60.000 Million which is
interchangeable with each other with overall limit of Rs. 60.000 Million. FOBP
/ FOUBP / FOUBNLC / FOBNLC- (within FBWC – Rs. 60.000 Millions) Rs. 12.000
Million. Foreign / ILC –
Rs. 12.000 Millions, BG – 4.000 Millions – Same The total overall
limit enhanced from Rs. 108.000 Millions to Rs. 115.000 (Includes CC/PC
Limit, FOBP / FOUBP / FOUBNLC / FOBNLC- of Rs. 60.000 Millions) which
includes Term Loan Rs. 30.000 Millions, Corporate Loan Rs. 7.000 Millions and
ILC Rs. 12.000 Millions, BG Rs. 4.000 Millions |
FIXED ASSETS
- Land and
Building
- Furniture and
Fixtures
- Cooler
- RO System
- Water Cooler
- Plant and
Machinery
- Air
Conditioner
- Electric
Motor
- Generator Set
- Air Dryer
- UPS System
- Telephone
Equipment
- Standard Time
Machine
- Computer
- Vehicle
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. 56.74 |
|
|
1 |
Rs. 88.53 |
|
Euro |
1 |
Rs. 75.20 |
INFORMATION DETAILS
|
Information
Gathered by : |
PDT |
|
|
|
|
Report Prepared
by : |
DPT |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
4 |
|
--LIQUIDITY |
1~10 |
4 |
|
--LEVERAGE |
1~10 |
4 |
|
--RESERVES |
1~10 |
3 |
|
--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 |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
33 |
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.