|
Report Date : |
02.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
HILLSON FOOTWEAR PRIVATE
LIMITED |
|
|
|
|
Registered
Office : |
70, Rama Road, New Delhi-110 026, Delhi |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
07.08.2008 |
|
|
|
|
Com. Reg. No.: |
55-181821 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 3.980 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U19200DL2008PTC181821 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELH06864E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AACCH0910R |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer and Supplier and Exporter of Shoes and Footwear’s. |
|
|
|
|
No. of Employees
: |
150 (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 52000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The
profitability of the company appears to be low. 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 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) |
|
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. Yogesh |
|
Designation : |
Account Department |
|
Contact No.: |
91-01276-268085 |
|
Date : |
26.04.2013 |
LOCATIONS
|
Registered Office : |
70, |
|
Tel. No.: |
91-11-25436518 |
|
Mobile No.: |
91-9810337507 (Mr. Nitin Agarwal) / 91-9811364346 (Mr. Sachin Agarwal) |
|
E-Mail : |
|
|
Websites : |
|
|
Location : |
Owned |
|
|
|
|
Factory 1 : |
Plot No. 420-421, MIE Part – I, Bahadurgarh-124 507, |
|
Tel. No.: |
91-1276-268085 |
|
Location : |
Owned |
|
|
|
|
Factory 2: |
Plot No.78-77, MIE Part I, Bahadurgarh, District Jhajjar - 124507,
Haryana, India |
DIRECTORS
As on 29.09.2012
|
Name : |
Mr. Nitin Agarwal |
|
Designation : |
Director |
|
Address : |
26/53, West Punjabi Bagh, |
|
Date of Appointment : |
07.08.2008 |
|
DIN No. : |
02279027 |
|
|
|
|
Name : |
Mr. Sachin Agarwal |
|
Designation : |
Director |
|
Address : |
26/53, West Punjabi Bagh, |
|
Date of Appointment : |
07.08.2008 |
|
DIN No. : |
02240793 |
KEY EXECUTIVES
|
Name : |
Mr. Yogesh |
|
Designation : |
Account Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 29.09.2012
|
Names of Shareholders |
|
No. of Shares |
|
Nitin Agarwal |
|
96380 |
|
Sachin Agarwal |
|
63500 |
|
Nikita Agarwal |
|
15900 |
|
Nisha Agarwal |
|
1000 |
|
Rambabu Agarwal |
|
32200 |
|
Shashi Agarwal |
|
14800 |
|
|
|
1000 |
|
Ramsons Compounding ( |
|
1000 |
|
Manju Jain |
|
1000 |
|
Ranjit Sahay Jain |
|
1000 |
|
Nirmak Kumar Sukhlal Pincha |
|
1000 |
|
Suman Nirmal Pincha |
|
1000 |
|
Santosh Bimal Bothra |
|
1000 |
|
Bimal Kumar Jain |
|
1000 |
|
Ranjana Agarwal |
|
1000 |
|
Toor Finance Company Limited ( |
|
155000 |
|
Jinesh Kumar Jain |
|
100 |
|
Nem Kumar Jain and Sons (HUF) |
|
100 |
|
Rashmi Gupta |
|
100 |
|
Mohini Khadria |
|
100 |
|
Sanwarmal Khadria (HUF) |
|
100 |
|
Amit Mata |
|
1000 |
|
Bulbul Buildcon Private Limited (India) |
|
3600 |
|
Adonis Infosoft Private Limited (India) |
|
4800 |
|
Ashish Jain |
|
100 |
|
Seema Jain |
|
100 |
|
Charanjit Kaur |
|
100 |
|
|
|
|
|
Total |
|
397980 |
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 and Supplier and Exporter of Shoes and Footwear’s. |
|
|
|
|
Products : |
·
Safety Boots ·
School Shoes ·
Mens Footwear ·
Woman and Children Footwear ·
Sandals ·
Slippers |
|
|
|
|
Exports : |
|
|
Products : |
Shoes and footwear’s |
|
Countries : |
|
|
|
|
|
Imports : |
|
|
Products : |
Raw Material |
|
Countries : |
China |
GENERAL INFORMATION
|
No. of Employees : |
150 (Approximately) |
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Bankers : |
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Jinesh Manoj and Company Chartered Accountant |
|
Address : |
222, Vardhaman Plaza, Plot No. 12, Road No. 44, Opp. Rani Bagh,
Pitampura, New Delhi – 110034, Delhi, Indiax |
|
PAN.: |
AATPG1419N |
CAPITAL STRUCTURE
As on 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
800000 |
Equity Shares |
Rs.10/- each |
Rs. 8.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
397980 |
Equity Shares |
Rs.10/- each |
Rs. 3.980 Millions |
|
|
Share Application Money A/c |
|
Rs.0.200 Million |
|
|
Total |
|
Rs.4.180
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 |
4.180 |
3.930 |
3.843 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
8.944 |
4.956 |
0.555 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
13.124 |
8.886 |
4.398 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
28.590 |
26.705 |
13.336 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
8.885 |
|
|
TOTAL BORROWING |
28.590 |
26.705 |
22.221 |
|
|
DEFERRED TAX LIABILITIES |
0.447 |
0.204 |
0.239 |
|
|
|
|
|
|
|
|
TOTAL |
42.161 |
35.795 |
26.858 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
30.049 |
19.546 |
19.342 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
8.076 |
10.900 |
5.270 |
|
|
Sundry Debtors |
32.612
|
21.700 |
9.854 |
|
|
Cash & Bank Balances |
1.081
|
3.512 |
1.131 |
|
|
Other Current Assets |
1.515
|
1.360 |
0.183 |
|
|
Loans & Advances |
1.799
|
3.387 |
0.772 |
|
Total
Current Assets |
45.083
|
40.859 |
17.210 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
30.641
|
23.602 |
9.006 |
|
|
Other Current Liabilities |
1.230
|
0.460 |
0.000 |
|
|
Provisions |
1.100
|
0.548 |
0.787 |
|
Total
Current Liabilities |
32.971
|
24.610 |
9.793 |
|
|
Net Current Assets |
12.112
|
16.249 |
7.417 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
42.161 |
35.795 |
26.858 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
191.897 |
126.191 |
62.877 |
|
|
|
Other Income |
0.896 |
0.027 |
NA |
|
|
|
TOTAL (A) |
192.793 |
126.218 |
NA |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of material consumed |
158.520 |
104.556 |
NA |
|
|
|
Employee benefit Expenses |
2.653 |
2.566 |
NA |
|
|
|
Other Expenses |
22.766 |
12.840 |
NA |
|
|
|
TOTAL (B) |
183.939 |
119.962 |
NA |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
8.854 |
6.256 |
NA |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
3.174 |
3.091 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
5.680 |
3.165 |
NA |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
3.461 |
2.728 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
2.219 |
0.437 |
NA |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
0.681 |
0.152 |
NA |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
1.538 |
0.285 |
0.463 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
3.86 |
0.72 |
1.20 |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
0.80
|
0.23 |
NA |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
1.16
|
0.35 |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
4.92
|
1.07 |
NA |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.17
|
0.05 |
NA |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt /Networth) |
|
2.18
|
3.01 |
5.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.37
|
1.67 |
1.76 |
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 |
No |
|
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 |
Yes |
BANKERS CHARGES
REPORT AS PER REGISTRY
|
Corporate identity number of the company |
U19200DL2008PTC181821 |
|
Name of the company |
HILLSON FOOTWEAR PRIVATE LIMITED |
|
Address of the registered office or of the principal place of business in India of the company |
70, Rama Road, New Delhi – 110 026, Delhi, India |
|
This form is for |
Modification of charge |
|
Charge identification (ID) number of the charge to be modified |
10397109 |
|
Type of charge |
Immovable property |
|
Particular of charge holder |
Punjab National Bank, BO : Gurudwara Road, Karol Bagh, New Delhi –
110005, Delhi, India |
|
Nature of instrument creating charge |
Letter of Continuity (Extension of Equitable Mortgage of Immovable
Property). |
|
Date of instrument Creating the charge |
09.01.2013 |
|
Amount secured by the charge |
Rs.10.059 Millions |
|
Brief of the principal terms an conditions and extent and operation of
the charge |
Rate of Interest As per the agreement dated 08/01/2013 made between the company and
Punjab National Bank, Gurudwara Road Karol Bagh Branch, New Delhi 110005. Terms of Repayment As per the agreement dated 08/01/2013 made between the company and
Punjab National Bank, Gurudwara Road Karol Bagh Branch, New Delhi 110005. Margin As per the agreement dated 08/01/2013 made between the company and
Punjab National Bank, Gurudwara Road Karol Bagh Branch, New Delhi 110005. Extent and Operation of the charge As per the agreement dated 08/01/2013 made between the company and
Punjab National Bank, Gurudwara Road Karol Bagh Branch, New Delhi 110005. Others 2ONE |
|
Short particulars of the property or asset(s) charged (including
complete address and location of the property) |
Term Loan of Rs 10.059 Millions sanctioned to the company is further
secured by Equitable Mortgage of Industrial Plot No. 420-421 Sector - MIE PhaseI
Industrial Area Bahadurgarh Distt Jhajjar, Haryana. |
|
Particulars of the present modification |
Term Loan of Rs 10.059 Lacs sanctioned to the company is further
secured by Millions Mortgage of Industrial Plot No. 420-421 Sector - MIE
Phase I Industrial Area Bahadurgarh Distt Jhajjar, Haryana. |
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.54.21 |
|
|
1 |
Rs.84.00 |
|
Euro |
1 |
Rs.70.97 |
INFORMATION DETAILS
|
Information Gathered
by : |
PDT |
|
|
|
|
Report Prepared
by : |
KVT |
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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
NO |
|
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.