MIRA INFORM REPORT
|
Report Date : |
21.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
COSMOS TAPES AND LABELS PRIVATE LIMITED |
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Registered
Office : |
201, Raj Kamal Sadan, Commercial Complex, Preet Vihar, |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
28.03.2005 |
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Com. Reg. No.: |
55-134426 |
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Capital Investment
/ Paid-up Capital : |
Rs. 1.137 Millions |
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CIN No.: [Company Identification
No.] |
U51396DL2005PTC134426 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELC08471B |
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PAN No.: [Permanent Account No.] |
AACCC5777D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer, Importer and Exporter of Industrial Tapes and Labels. |
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No. of Employees
: |
40 (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 |
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Maximum Credit Limit : |
USD 7500 |
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Status : |
Moderate |
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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 some loss during the current year. The external borrowing
appears to be huge. However, trade relations are reported to be fair. Business is active.
Payments are reported to be slow but correct. The company can be considered for 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 – 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 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INDIAN ECONOMIC OVERVIEW
|
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 (GENERAL DETAILS)
|
Name : |
Mr. Ravindra Nigam |
|
Designation : |
Director |
|
Contact No.: |
91-9810146024 |
|
Date : |
01.03.2013 |
LOCATIONS
|
Registered
Office / Factory : |
201, Rajkamal Sadan, Commercial Complex, Preet Vihar, |
|
Tel. No.: |
91-11-22021663 / 42420291/ 22011542 |
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Mobile No.: |
91-9810146024 [Mr. Ravindra Nigam] |
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Fax No.: |
91-11-22011542 |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Warehouse : |
59/2/6, Industrial Area Site - IV, Sahibabad, |
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Location : |
Owned |
DIRECTORS
AS ON 29.09.2012
|
Name : |
Mr. Ravindra Nigam |
|
Designation : |
Director |
|
Address : |
A 105, Pooja Apartment, 77 IP Extension, Patpargunj, Delhi - 110092,
India |
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Date of Birth/Age : |
28.10.1966 |
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Qualification : |
MSC |
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Date of Appointment : |
28.03.2005 |
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DIN No.: |
01107804 |
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Name : |
Anjna Nigam |
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Designation : |
Director |
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Address : |
A 105, Pooja Apartment, 77 IP Extension, Patpargunj, Delhi - 110092,
India |
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Date of Birth/Age : |
04.01.1970 |
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Qualification : |
BSC |
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Date of Appointment : |
28.03.2005 |
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DIN No.: |
00948850 |
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|
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Name : |
Mrs. Usha Nigam |
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Designation : |
Director |
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Address : |
A 105, Pooja Apartment, 77 IP Extension, Patpargunj, Delhi - 110092,
India |
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Date of Birth/Age : |
25.05.1943 |
|
Date of Appointment : |
28.03.2005 |
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DIN No.: |
00948766 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Ravindra Nigam |
|
63450 |
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Anjana Nigam |
|
26810 |
|
Usha Nigam |
|
23460 |
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Total |
|
113720 |
Equity Share Break up (Percentage of Total Equity)
AS ON 29.09.2012
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer, Importer and Exporter of Industrial Tapes and Labels. |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
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Imports : |
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Products : |
Raw Materials |
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Countries : |
·
·
·
·
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Terms : |
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Selling : |
L/C, Cash and Credit (60 Days) |
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Purchasing : |
L/C, Cash and Credit (60 Days) |
GENERAL INFORMATION
|
Customers : |
OEM’s (Industries) ·
Maruti Suzuki ·
Honda Cars ·
Videocon Industries Limited ·
Voltas Limited
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No. of Employees : |
40 (Approximately) |
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Bankers : |
·
Andhra Bank, 14 Community Centre, Raj kaml Sadan,
Preet Vihar, Delhi – 110092, India [91-11-22450551] ·
Standard
Chartered Bank ·
HDFC
Bank Limited |
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Facilities : |
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Banking
Relations : |
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Financial Institutions : |
·
Bajaj
Finance Company ·
HDFC
Finance Company |
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Auditors : |
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Name : |
Daver Sikri and Company Chartered Accountants |
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Address : |
4222/1, Laxmi Kunj, Ansari Road, Darya Ganj, Delhi – 110002, India |
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Tel. No.: |
91-11-41563004 |
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Fax No.: |
91-11-23257263 |
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Email : |
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PAN No.: |
AATPS9582J |
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Sister Concern : |
·
Golden Spheres Real Estate Agent |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
300000 |
Equity Shares |
Rs. 10/- each |
Rs. 3.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
113720 |
Equity Shares |
Rs. 10/- each |
Rs. 1.137 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 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
1.137 |
1.087 |
1.057 |
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2] Share Application Money |
0.000 |
0.303 |
0.000 |
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3] Reserves & Surplus |
0.745 |
1.715 |
1.160 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.882 |
3.105 |
2.217 |
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LOAN FUNDS |
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|
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|
1] Secured Loans |
3.836 |
4.832 |
3.120 |
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2] Unsecured Loans |
5.781 |
2.880 |
2.903 |
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TOTAL BORROWING |
9.617 |
7.712 |
6.023 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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|
|
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TOTAL |
11.499 |
10.817 |
8.240 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
5.258 |
4.735 |
3.882 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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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 |
4.915
|
4.295 |
3.693
|
|
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Sundry Debtors |
7.218
|
9.225 |
6.625
|
|
|
Cash & Bank Balances |
0.290
|
0.595 |
0.398
|
|
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Other Current Assets |
0.281
|
0.147 |
0.056
|
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Loans & Advances |
1.269
|
1.258 |
0.491
|
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Total
Current Assets |
13.973
|
15.520 |
11.263 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
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Sundry Creditors |
5.221
|
8.822 |
6.362
|
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Other Current Liabilities |
1.970
|
0.307 |
0.550
|
|
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Provisions |
0.541
|
0.309 |
0.000
|
|
Total
Current Liabilities |
7.732
|
9.438 |
6.912
|
|
|
Net Current Assets |
6.241
|
6.082 |
4.351
|
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|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.007 |
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|
|
|
|
|
|
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TOTAL |
11.499 |
10.817 |
8.240 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
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Revenue from operations |
27.971 |
38.753 |
|
|
|
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Other Income |
0.021 |
0.002 |
|
|
|
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TOTAL |
27.992 |
38.755 |
36.529 |
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|
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|
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Less |
EXPENSES |
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|
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|
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|
Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
NA |
38.348 |
36.056 |
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PROFIT/ (LOSS)
BEFORE TAX |
NA |
0.407 |
0.473 |
|
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Less |
TAX |
NA |
0.122 |
0.142 |
|
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|
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|
PROFIT/ (LOSS)
AFTER TAX |
(1.222) |
0.285 |
0.331 |
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IMPORTS |
|
|
|
|
|
|
|
Raw Materials |
4.679 |
2.982 |
2.543 |
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|
Earnings/ (Loss)
Per Share (Rs.) |
(10.75) |
2.62 |
3.13 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
(4.37)
|
0.74 |
0.91 |
|
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|
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Net Profit Margin (PBT/Sales) |
(%) |
NA |
1.05 |
NA |
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|
Return on Total Assets (PBT/Total Assets} |
(%) |
NA |
2.01 |
3.12 |
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|
Return on Investment (ROI) (PBT/Networth) |
|
NA |
0.13 |
0.21 |
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|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
5.11
|
2.48 |
2.72 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.81
|
1.64 |
1.63 |
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 |
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 |
Yes |
|
19] |
Payments terms |
Yes |
|
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 LOANS
DETAILS
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
Century
Distributors Private Limited |
1.500 |
1.500 |
|
Loan from Bajaj
Finance Company |
0.460 |
0.000 |
|
Loan from HDFC
Finance Company |
0.839 |
0.000 |
|
Loan from
Standard Chartered Bank |
0.853 |
0.000 |
|
Ravindra Nigam |
0.633 |
0.415 |
|
Anjana Nigam |
0.667 |
0.547 |
|
Usha Nigam |
0.829 |
0.418 |
|
Total |
5.781 |
2.880 |
REVIEW OF
OPERATIONS:
The Company has suffered a net loss of Rs. 1.222 Millions during the financial
years as against net profit (after tax) of Rs. 0.285 Million in the previous
year. The company hopes to do better in the coming years and the Directors are
taking all steps necessary for this.
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate
identity number of the company |
U51396DL2005PTC134426 |
|
Name of the
company |
COSMOS TAPES AND
LABELS PRIVATE LIMITED |
|
Address of the
registered office or of the principal place of business in |
201, Raj Kamal Sadan, Commercial Complex, Preet Vihar, New Delhi –
110092, India Email: info@cosmostapes.com |
|
This form is for |
Modification of charge |
|
Charge
identification number of the modified |
80023737 |
|
Type of charge |
Immovable property Book debts Movable property (not being pledge) Floating charge |
|
Particular of
charge holder |
Andhra Bank, 14 Community Centre, Raj kaml Sadan, Preet Vihar, Delhi –
110092, India Email: bmdl1092@andhrabank.co.in
|
|
Nature of
description of the instrument creating or modifying the charge |
1. Composite
Agreement in favour of Andhra Bank, Preet Vihar, New Delhi. 2. Sanction Letter
by Andhra Bank. 3. RF 210. |
|
Date of
instrument Creating the charge |
21.08.2012 |
|
Amount secured by
the charge |
0.700 Million |
|
Brief particulars
of the principal terms an conditions and extent and operation of the charge |
Margin That the borrower(s)
undertake(s) and agree(s) to maintain a margin against the securities
hypothecated below as may be specified by the Bank from time to time. OCC 30% on Paid Stock 50% on Book-Debts
of up to 90 days. Extent and Operation of the charge This is a
continuing charge. |
|
Short particulars
of the property charged |
Equitable
mortgage of land and building at Plot No. 6, Block 59/2, Site 4, Industrial
Area Sahibabad, District Ghaziabad (up) measuring 318.93 sq. M. Hypothecation of
stocks, vehicles, movable machinery and book-debts. |
|
Date of
Modification |
20.07.2011 |
|
Particulars of
the present modification |
Charge Modified
by reduction of existing Open Cash Credit Limit from Rs. 3.700 Millions to Rs.
0.700 Million. |
Fixed Assets:
·
Land
·
Building
·
Air Conditioner
·
Vehicles
·
Cellular Phone
·
Computers
·
Furniture
·
Office Equipments
·
Fax Machine
·
Fire Exclusive
·
Invertor
·
Machinery
·
Printer
·
Generator
TRADE REFERENCES:
·
Maruti Suzuki
·
Honda Cars
·
Videocon Industries Limited
·
Voltas Limited
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. 54.38 |
|
|
1 |
Rs. 81.07 |
|
Euro |
1 |
Rs. 70.04 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Report Prepared
by : |
BVA |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
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 |
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 |
|
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.