MIRA INFORM REPORT
|
Report Date : |
11.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
NAGAR ELECTRONICS AND INSTRUMENTS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
F-244, Flatted Factories
Complex, Area Okhla, New Delhi – 110 020 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
11.11.1980 |
|
|
|
|
Com. Reg. No.: |
55-011033 |
|
|
|
|
Capital Investment
/ Paid-up Capital : |
Rs.2.165
millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74899DL1980PTC011033 |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer
of Servo Voltage Stabilizers,
Automatic Servo Voltage Stabilizers, Online UPS Systems, Isolation
Transformers, Oil Cooled Servo Voltage Stabilizers and Air Cooled Servo
Voltage Stabilizers. |
|
|
|
|
No. of Employees
: |
50 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (27) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 6000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a small company having a moderate track record. Its scale
of activities is limited. There appear some accumulated losses in the of the company. The profit
margin appears to be very low. However, business is active. Payment terms are slow. The company can be considered for small to mediocre business dealings
with great 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 PARTED BY
|
Name : |
Mr. Abhishek Singh Chauhan |
|
Designation : |
Director |
|
Contact No.: |
91-9560608886 |
|
Date : |
31.05.2013 |
LOCATIONS
|
Registered Office : |
F-244, Flatted
Factories Complex, Area Okhla, New Delhi – 110 020, India |
|
Tel. No.: |
91-11-30622917/ 26839459 |
|
Mobile No.: |
91-9560608886 (Mr. Abhishek Singh Chauhan)
|
|
Fax No.: |
91-11-26839459 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
500 sq ft |
|
Location : |
Owned |
|
|
|
|
Head Office/ Factory : |
Plot No.51, Sector 34, EHTP, Gurgaon – 122 001, Haryana, India |
|
Tel. No.: |
91-124-4048094/ 2372040 |
|
Fax No.: |
91-124-4048094 |
|
Area : |
8000 sq ft |
|
Location : |
Owned |
|
|
|
|
Branch Office : |
Located at: ·
Jammu ·
Chandigarh ·
Gurgaon ·
Delhi ·
Agra ·
Patna ·
Chatisgarh ·
Kolkata ·
Mumbai |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Abhishek Singh Chauhan |
|
Designation : |
Director |
|
Address : |
K-1503, Palm Vihar, Gurgaon – 122 017, Haryana, India |
|
Date of Birth/Age : |
15.05.1980 |
|
Qualification : |
B. Tech |
|
Date of Appointment : |
02.05.2012 |
|
DIN No.: |
02238901 |
|
|
|
|
Name : |
Mr. Parishek Singh Chauhan |
|
Designation : |
Director |
|
Address : |
K-1503, Palm Vihar, Gurgaon – 122 017, Haryana, India |
|
Date of Birth/Age : |
15.05.1988 |
|
Date of Appointment : |
28.06.2012 |
|
DIN No.: |
02267944 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Abhishek Singh Chauhan |
|
59530 |
|
Vinay Nagar |
|
43000 |
|
Sushma Singh |
|
105990 |
|
Viraj Nagar |
|
8000 |
|
Total |
|
216520 |
As on 29.09.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Directors
or relatives of directors |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer
of Servo Voltage Stabilizers,
Automatic Servo Voltage Stabilizers, Online UPS Systems, Isolation
Transformers, Oil Cooled Servo Voltage Stabilizers and Air Cooled Servo
Voltage Stabilizers. |
|
|
|
|
Products : |
|
|
|
|
|
Terms : |
|
|
Selling : |
Cheque |
|
|
|
|
Purchasing : |
Cheque |
GENERAL INFORMATION
|
Customers : |
Wholesaler, Retailers, End Users and OEM’s ·
Airports Authority of India ·
Amway ·
Asian Paints ·
Bank of Baroda ·
Dabur ·
ICICI Bank ·
IDBI Bank ·
Domino’s Pizza ·
Punjab National Bank ·
Reliance ·
RAJA Biscuits |
|||||||||||||||||||||
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|||||||||||||||||||||
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No. of Employees : |
50 (Approximately) |
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Bankers : |
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Facilities : |
* The Limit is secured by hypothecation of stock, stores, book debts etc and further secured by personal guarantee of Directors. ** Secured against Residential House of Director. |
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
R. Rastogi and Company Chartered Accountants |
|
Address : |
207-208, Vakil Chambers, A-115, Shakarpur, Delhi – 110 092, India |
|
Tel. No.: |
91-11-22509184/ 43545927 |
|
Income-tax
PAN of auditor or auditor's firm : |
AEWPK1301K |
|
|
|
|
Enterprises over which Key Management Personnel (KMP) and Relative of
KMP have significant influence : |
Empower Electronics Private Limited |
CAPITAL STRUCTURE
As on 29.09.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
250000 |
Equity Shares |
Rs.10/- each |
Rs.2.500 millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
216520 |
Equity Shares |
Rs.10/- each |
Rs.2.165
millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2012 |
31.03.2011 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1) Shareholders' Funds |
|
|
|
|
(a) Share Capital |
|
2.165 |
2.165 |
|
(b) Reserves & Surplus |
|
(0.710) |
(0.735) |
|
(c) Money received against share warrants |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share Application money pending allotment |
|
0.000 |
0.000 |
|
|
|
|
|
|
(3)
Non-current liabilities |
|
|
|
|
(a) long-term borrowings |
|
0.000 |
0.000 |
|
(b) Deferred tax liabilities (Net) |
|
0.000 |
0.000 |
|
(c)
Other long term liabilities |
|
0.000 |
0.000 |
|
(d)
long-term provisions |
|
0.000 |
0.000 |
|
|
|
|
|
|
(4) Current liabilities |
|
|
|
|
(a)
Short term borrowings |
|
4.071 |
4.312 |
|
(b)
Trade payables |
|
4.536 |
5.401 |
|
(c)
Other current liabilities |
|
0.630 |
0.781 |
|
(d)
Short-term provisions |
|
0.000 |
0.000 |
|
TOTAL |
|
10.692 |
11.924 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1) Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
|
2.583 |
2.686 |
|
(ii)
Intangible Assets |
|
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
|
0.000 |
0.000 |
|
(iv) Intangible assets under development |
|
0.000 |
0.000 |
|
(b) Non-current
Investments |
|
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
|
0.367 |
0.365 |
|
(d) Long-term Loan
and Advances |
|
0.504 |
0.616 |
|
(e)
Other Non-current assets |
|
0.000 |
0.000 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
|
0.000 |
0.000 |
|
(b)
Inventories |
|
3.793 |
3.720 |
|
(c)
Trade receivables |
|
2.960 |
3.339 |
|
(d)
Cash and cash equivalents |
|
0.485 |
1.198 |
|
(e)
Short-term loans and advances |
|
0.000 |
0.000 |
|
(f)
Other current assets |
|
0.000 |
0.000 |
|
TOTAL |
|
10.692 |
11.924 |
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
|
31.03.2010 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
|
2.165 |
|
|
2] Share Application Money |
|
|
0.020 |
|
|
3] Reserves & Surplus |
|
|
0.098 |
|
|
4] (Accumulated Losses) |
|
|
(0.843) |
|
|
NETWORTH |
|
|
1.440 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
|
3.137 |
|
|
2] Unsecured Loans |
|
|
1.264 |
|
|
TOTAL BORROWING |
|
|
4.401 |
|
|
DEFERRED TAX LIABILITIES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
5.841 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
|
2.729 |
|
|
Capital work-in-progress |
|
|
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
|
0.000 |
|
|
DEFERREX TAX ASSETS |
|
|
0.399 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
|
3.165 |
|
|
Sundry Debtors |
|
|
4.350 |
|
|
Cash & Bank Balances |
|
|
1.415 |
|
|
Other Current Assets |
|
|
0.000 |
|
|
Loans & Advances |
|
|
0.310 |
|
Total
Current Assets |
|
|
9.240 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
|
5.837 |
|
|
Other Current Liabilities |
|
|
0.409 |
|
|
Provisions |
|
|
0.281 |
|
Total
Current Liabilities |
|
|
6.527 |
|
|
Net Current Assets |
|
|
2.713 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
|
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
|
5.841 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
|
|
|
|
|
|
|
|
Income |
16.983 |
16.284 |
19.714 |
|
|
|
Other Income |
|
|
|
|
|
|
TOTAL (A) |
16.983 |
16.284 |
19.714 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
|
16.302 |
15.470 |
18.887 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
16.302 |
15.470 |
18.887 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
0.681 |
0.814 |
0.827 |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
0.457 |
0.527 |
0.531 |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.224 |
0.287 |
0.296 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/ AMORTISATION (F) |
0.197 |
0.233 |
0.294 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
0.027 |
0.054 |
0.002 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
NA |
0.043 |
(0.063) |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
NA |
0.011 |
0.065 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
NA |
0.05 |
0.30 |
|
|
Particulars |
|
|
31.03.2013 |
|
Sales Turnover (Approximately) |
|
|
19.000 |
|
|
|
|
|
Expected Sales (2013-2014): Rs.25.000 millions
The above information has been parted by Mr. Abhishek Singh Chauhan
(Director).
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
0.33 |
0.01 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.26
|
0.47 |
0.02 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.02
|
0.04 |
0.00 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
2.80
|
3.02 |
3.06 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.78
|
0.79 |
1.42 |
LOCAL AGENCY FURTHER INFORMATION
|
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 |
Yes |
|
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 |
Yes |
|
13) Reasons for variation <> 20% |
-- |
|
14) Estimation for coming financial year |
Yes |
|
15) Capital in the business |
Yes |
|
16) Details of sister concerns |
Yes |
|
17) Major suppliers |
No |
|
18) Major customers |
Yes |
|
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 |
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 Loans |
31.03.2012 (Rs. in Millions) |
31.03.2011 (Rs. in Millions) |
|
SHORT TERM BORROWINGS |
|
|
|
Loans from
Directors |
1.400 |
1.306 |
|
Citi Bank
(Professional Loan) |
0.000 |
0.117 |
|
Total |
1.400 |
1.423 |
Note:
The registered office of the company has been shifted from F-224, Flatted Factories Area, Okhla, New Delhi – 110 020 to the present
address w.e.f. 22.11.2007.
FIXED ASSETS:
·
Freehold Land
·
Factory Building
·
Office Flat
·
Plant and Machinery
·
Dies
·
Electric Fittings
·
Servo Voltage
Stabilizer
·
Office
Equipments
·
Computers
·
Furniture and
Fixtures
·
Computers
·
Vehicles
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.57.78 |
|
|
1 |
Rs.89.71 |
|
Euro |
1 |
Rs.76.24 |
INFORMATION DETAILS
|
Information
Gathered by : |
HET |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
4 |
|
PAID-UP CAPITAL |
1~10 |
2 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--PROFITABILIRY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
2 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
27 |
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.