MIRA INFORM REPORT
|
Report Date : |
16.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
FACKELMANN INDA KITCHENWARE PRIVATE LIMITED |
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Registered
Office : |
315, 3rd Floor, JMD Pacific Square, Sector-15, Part- III, Gurgoan – 122001, Haryana |
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Country : |
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Financials (as
on) : |
31.03.2012 |
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Date of
Incorporation : |
26.10.2007 |
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Com. Reg. No.: |
17-047419 |
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Capital Investment
/ Paid-up Capital : |
Rs. 13.902 Millions |
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CIN No.: [Company Identification
No.] |
U25207HR2007PTC047419 |
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PAN No.: [Permanent Account No.] |
AABCF1456F |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Subject is primarily engaged in wholesale trading, import and export of Utensils and Kitchenware Tools. |
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No. of Employees
: |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B (28) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 50000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having a moderate track record. The company has wiped off its accumulated losses of previous years
successfully. The reserve of the company is very low. However, the company operated
on its own funds. It has earned very minimal profit during 2012. Business is active. Payment terms are slow. The company can be considered for business dealings with some caution.
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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) |
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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 |
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
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Registered Office : |
315, 3rd Floor, JMD Pacific Square, Sector-15,
Part- III, Gurgoan – 122001, Haryana, India |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
DIRECTORS
As on: 21.09.2012
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Name : |
Mr. Aman Singh Inda |
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Designation : |
Director |
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Address : |
Plot No. 610, Mohan Nagar, B. J. S. Colony, Jodhpur – 342010,
Rajasthan, India |
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Date of Birth/Age : |
01.05.1953 |
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Date of Appointment : |
26.10.2007 |
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DIN No.: |
01578359 |
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Other Directorship :
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Name : |
Mr. Philip Karl Hoffmann |
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Designation : |
Director |
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Address : |
Flat E, 13th Floor, Tower 2, Centre Stage, Hollywood Road
No. 108, Sheung Wan, Hong Kong |
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Date of Birth/Age : |
31.03.1985 |
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Date of Appointment : |
28.06.2011 |
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DIN No.: |
03315052 |
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Name : |
Mr. Anton Karl Hofmann |
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Designation : |
Alternate Director |
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Address : |
315, 3rd Floor, JMD Pacific Square, Sector – 15, Part –
III, Gurgaon - 122001, Haryana, India |
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Date of Birth/Age : |
08.02.1982 |
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Date of Appointment : |
23.08.2011 |
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DIN No.: |
03584678 |
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Name : |
Mr. Frederic Isel |
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Designation : |
Director |
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Address : |
FT E, 15/F, BLK 22, Laguna City, 13 Laguna St. CHA KWO Ling, KLN, Hong
Kong 852 China |
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Date of Birth/Age : |
10.03.1974 |
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Date of Appointment : |
05.03.2010 |
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DIN No.: |
02571114 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 21.09.2012
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Names of Shareholders |
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No. of Shares |
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Aman Singh Inda |
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183200 |
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Frederic Isel |
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111218 |
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Philip Karl Hoffmann |
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117060 |
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Angelika Hoffmann |
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6100 |
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European Quality Houseware Limited, Hong Kong |
|
583867 |
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Dragon Legend Holdings Limited, Hong Kong |
|
388782 |
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Total |
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1390227 |
Equity Share Break up (Percentage of Total Equity)
As on: 21.09.2012
|
Category |
Percentage |
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Foreign holdings( Foreign institutional
investor(s), Foreign companie(s) Foreign financial institution(s),
Non-resident Indian(s) or Overseas Corporate bodies or Others |
70.00 |
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Directors or relatives of Directors |
30.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Subject is primarily engaged in wholesale trading, import
and export of Utensils and Kitchenware Tools. |
GENERAL INFORMATION
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No. of Employees : |
Not Available |
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Bankers : |
Deutsche Bank Limited |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Mahesh Chander and Company Chartered Accountants |
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Address : |
203, Barodia Tower, D-12, Central Market, Prashant Vihar, Delhi –
110085, India |
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Tel No.: |
91-11-45027249 |
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PAN No.: |
AAFPN5403K |
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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 |
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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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|
1390227 |
Equity Shares |
Rs.10/- each |
Rs. 13.902
Millions |
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Details of each
shareholder holding more than 5% shares :-
|
Name of Shareholder |
No. of Shares held |
% of Shares held |
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Aman Singh India |
183200 |
13.18 |
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Fredric Isel |
111218 |
8.00 |
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Phillip Karl Hoffmann |
117060 |
8.42 |
|
Angelika Hofmann |
6100 |
0.44 |
|
Rajan Manufacturing Private Limited |
- |
- |
|
European Quality Houseware Limited |
583867 |
42.00 |
|
Dragon Legend Holding Company |
388782 |
27.97 |
Reconciliation of the
number of shares outstanding
|
Particular |
% |
Rs. in Millions |
|
Shares outstanding as at the beginning of the year |
100 |
13.902 |
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Additions during the year |
- |
- |
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Deletion during the year |
- |
- |
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Shares outstanding as at the end of the year |
100 |
13.902 |
Terms/Rights Attached
to Equity shares
The Company has only one class of equity shares having a par value of Rs.10 per share. Each holder of equity shares is entitled to one vote per share. In the event of liquidation of the company, after distribution of all preferential amounts. The distribution will be in proportion to the number of shares held by the shareholders.
There is no change in the share capital during the year and no
bonus/right buy-back in the preceding five years shares issue/bought back
during the year Nil
There is no shares reserved for issue of employee stock option plan
conversion of bonds/debenture.
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 |
13.902 |
13.902 |
0.200 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.013 |
0.000 |
0.000 |
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4] (Accumulated Losses) |
0.000 |
(0.128) |
(3.536) |
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NETWORTH |
13.915 |
13.774 |
(3.336) |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.022 |
0.041 |
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TOTAL |
13.915 |
13.796 |
(3.295) |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.404 |
2.461 |
2.873 |
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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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DEFERREX TAX ASSETS |
0.011 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
11.649
|
10.555 |
5.084 |
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Sundry Debtors |
6.364
|
6.947 |
0.551 |
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Cash & Bank Balances |
8.677
|
5.449 |
0.290 |
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Other Current Assets |
0.000
|
0.000 |
1.398 |
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Loans & Advances |
2.747
|
2.263 |
0.000 |
|
Total
Current Assets |
29.437
|
25.214 |
7.323 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
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Sundry Creditors |
16.316
|
12.290 |
4.200 |
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Other Current Liabilities |
1.336
|
1.257 |
9.291 |
|
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Provisions |
0.285
|
0.332 |
0.000 |
|
Total
Current Liabilities |
17.937
|
13.879 |
13.491 |
|
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Net Current Assets |
11.500
|
11.335 |
(6.168) |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
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|
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TOTAL |
13.915 |
13.796 |
(3.295) |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
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SALES |
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Income |
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Other Income |
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TOTAL |
NA |
28.679 |
11.693 |
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EXPENSES |
|
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Office Expenses |
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Administrative Expenses |
NA |
24.958 |
13.783 |
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Advertising Expenses |
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TOTAL |
NA |
24.958 |
13.783 |
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PROFIT/
(LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION |
NA |
3.721 |
(2.090) |
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DEPRECIATION/
AMORTISATION |
NA |
0.000 |
0.531 |
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PROFIT/ (LOSS)
BEFORE TAX |
0.609 |
3.721 |
(2.621) |
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TAX |
NA |
0.350 |
(0.004) |
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PROFIT/ (LOSS)
AFTER TAX |
NA |
3.371 |
(2.617) |
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EARNINGS IN
FOREIGN CURRENCY |
13.561 |
13.782 |
10.141 |
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Earnings/ (Loss)
Per Share (Rs.) |
NA |
2.43 |
(13.08) |
|
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
NA
|
11.75 |
(22.38) |
|
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|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
1.91
|
13.45 |
(25.71) |
|
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Return on Investment (ROI) (PBT/Networth) |
|
0.04
|
0.27 |
0.78 |
|
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|
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Debt Equity Ratio (Total Debt /Networth) |
|
0.00
|
0.00 |
0.00 |
|
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|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.64
|
1.82 |
0.54 |
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 two 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) |
No |
|
21] |
Market information |
---------------------- |
|
22] |
Litigations that the firm / promoter involved in |
---------------------- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
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 |
NOTE:
The registered office of the company has been shifted from 610, Mohan Nagar – B, B.J.S. Colony, Jodhpur – 342010, Rajasthan, India to present address w.e.f. 20.06.2012
FINANCIAL RESULTS:
During the period, the company earned a net profit of Rs 0.609 Million before making provisions for taxes thereon. Their Directors are hopeful improvement in the performance of the company and are continuously working in this direction with all effort.
FIXED ASSETS
- Generator
- Air Conditioner
- Mobile Phones
- Water System
- Building
- Printer
- Office Equipments
- Furniture and Fixtures
- Heater
- Car Innova
- Computer
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. 54.78 |
|
|
1 |
Rs. 83.38 |
|
Euro |
1 |
Rs. 70.72 |
INFORMATION DETAILS
|
Report Prepared
by : |
UDS |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
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 |
NO |
|
--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 |
|
28 |
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.