MIRA INFORM REPORT
|
Report Date : |
18.05.2013 |
IDENTIFICATION DETAILS
|
Name : |
V-ACCESS ( |
|
|
|
|
Formerly Known
As : |
VISSCHER-CARAVELLE (INDIA) PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
E-102/2, Naraina Vihar, |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2012 |
|
|
|
|
Date of
Incorporation : |
07.05.1996 |
|
|
|
|
Com. Reg. No.: |
55-078752 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs. 11.062
Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U17220DL1996PTC078752 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
DELV02023A |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACV5356K |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Manufacturer of Carpet Mats for Cars. |
|
|
|
|
No. of Employees
: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B (29) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 103000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having a moderate track record. The company has performed well for the year 2012 and wiped off its
losses from the profits earned from its operations during the current year. However, trade relations are fair. Business is active. Payments are
reported as 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 |
|
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.
LOCATIONS
|
Registered Office : |
E-102/2, Naraina Vihar, |
|
Tel. No.: |
Not Available |
|
Fax No.: |
Not Available |
|
E-Mail : |
|
|
Website : |
|
|
|
|
|
Head Office: |
E-1224, Phase 1, Extension (Ghatal), RIICO Industrial Area, Bhiwadi –
301019, Rajasthan, India |
|
Tel. No.: |
91-1493-222340 |
|
Fax No.: |
91-1493-223350 |
|
|
|
|
Marketing Office: |
37-38, Udyog Vihar,
Phase IV, Gurgaon, |
|
Tel. No.: |
91-124-4015930 |
|
Fax No.: |
91-124-4061124 |
|
E-Mail : |
DIRECTORS
AS ON 31.12.2012
|
Name : |
Mr. Sanjay Malik |
|
Designation : |
Director |
|
Address : |
House No. 125, Sector - 15, Part - I, Gurgaon, 122001, Haryana, India |
|
Date of Appointment : |
25.01.2001 |
|
DIN No.: |
00586438 |
|
|
|
|
Name : |
Jan Harmen Van Dalfsen |
|
Designation : |
Director |
|
Address : |
Pottenbakkerstraat 21, Zwolle, 8043 BM, Netherlands, 8043 |
|
Date of Appointment : |
27.06.2005 |
|
DIN No.: |
01572188 |
|
|
|
|
Name : |
Arie Jentinus Hoekman |
|
Designation : |
Director |
|
Address : |
Gans 11, 8281, GN, Genemuiden, 8281, Netherlands |
|
Date of Appointment : |
05.10.2007 |
|
DIN No.: |
01554996 |
|
|
|
|
Name : |
Harm Kolk |
|
Designation : |
Director |
|
Address : |
Slinger 8, 8281 MB, Genemuiden, Genemuiden, 8281,
Netherlands |
|
Date of Appointment : |
27.06.2005 |
|
DIN No.: |
01555043 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 31.12.2012
|
Names of Shareholders |
|
No. of Shares |
|
Vadain International ( |
|
1103765 |
|
Vadain Participate B.V, The |
|
2435 |
|
|
|
|
|
Total |
|
1106200 |
AS ON 31.12.2012
|
Equity Share Breakup |
|
Percentage of Holding |
|
Category |
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
100.00 |
|
Total |
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Carpet Mats for Cars. |
GENERAL INFORMATION
|
No. of Employees : |
Not Available |
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||||||||||||||||||
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Bankers : |
Ø HDFC Bank Limited Ø ABN Amro Bank |
||||||||||||||||||
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||||||||||||||||||
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Facilities : |
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||||||||||||||||||
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Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Sudhir Arora and Associates Chartered Accountants |
|
Address : |
F-42-42, D.B. Gupta Market, Karol Bagh, New Delhi – 110005, India |
|
Tel. No.: |
91-11-23536228/ 23521389 |
|
E-Mail : |
|
|
Income-tax
PAN of auditor or auditor's firm : |
AAFPA0406K |
|
|
|
|
Holding Company : |
Vadain International (India) Holding B.V |
CAPITAL STRUCTURE
AS ON 31.03.2012
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
3,000,000 |
Equity Shares |
Rs. 10/- each |
Rs. 30.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1,106,200 |
Equity Shares |
Rs. 10/- each |
Rs. 11.062
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 |
11.062 |
11.062 |
11.062 |
|
|
2] Share Application Money |
5.915 |
5.915 |
5.915 |
|
|
3] Reserves & Surplus |
8.819 |
0.000 |
14.788 |
|
|
4] (Accumulated Losses) |
0.000 |
(12.653) |
(39.027) |
|
|
NETWORTH |
25.796 |
4.324 |
(7.262) |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
79.278 |
69.336 |
63.346 |
|
|
2] Unsecured Loans |
0.204 |
0.204 |
0.204 |
|
|
TOTAL BORROWING |
79.482 |
69.540 |
63.550 |
|
|
DEFERRED TAX LIABILITIES |
0.004 |
0.386 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
105.282 |
74.250 |
56.288 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
36.676 |
28.516 |
13.670 |
|
|
Capital work-in-progress |
0.445 |
2.240 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
25.734
|
16.518 |
5.869
|
|
|
Sundry Debtors |
32.887
|
16.769 |
15.676
|
|
|
Cash & Bank Balances |
33.213
|
7.627 |
2.980
|
|
|
Other Current Assets |
0.000
|
0.000 |
0.000
|
|
|
Loans & Advances |
43.085
|
40.243 |
37.348
|
|
Total
Current Assets |
134.919
|
81.157 |
61.873 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
55.459
|
30.982 |
15.442
|
|
|
Other Current Liabilities |
1.216
|
0.908 |
1.473
|
|
|
Provisions |
10.083
|
5.773 |
2.340
|
|
Total
Current Liabilities |
66.758
|
37.663 |
19.255
|
|
|
Net Current Assets |
68.161
|
43.494 |
42.618
|
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
105.282 |
74.250 |
56.288 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operations (Net) |
204.764 |
139.204 |
70.510 |
|
|
|
Other Income |
2.190 |
2.217 |
12.948 |
|
|
|
TOTAL (A) |
206.954 |
141.421 |
83.458 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Cost of Material consumed |
130.882 |
90.662 |
|
|
|
|
Changes in inventories of finished goods, WIP and stock-in-trade |
(1.147) |
(0.067) |
|
|
|
|
Employee Benefit Expenses |
15.005 |
11.572 |
|
|
|
|
Other Expenses |
20.248 |
14.050 |
|
|
|
|
TOTAL (B) |
164.988 |
116.217 |
66.800 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
41.966 |
25.204 |
(Including
Financial Expenses) |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
9.745 |
7.320 |
|
|
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
32.221 |
17.884 |
16.658 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
4.481 |
2.226 |
1.730 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX (E-F) (G) |
27.740 |
15.658 |
14.928 |
|
|
|
|
|
|
|
|
|
Less |
TAX (H) |
6.268 |
4.071 |
0.776 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
(G-H) (I) |
21.472 |
11.587 |
14.152 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS YEARS’
BALANCE BROUGHT FORWARD |
(27.440) |
(39.027) |
(53.179) |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(5.968) |
(27.440) |
(39.027) |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
19.41 |
10.47 |
12.79 |
|
%20PRIVATE%20LIMITED%20-%20222344%2018-May-2013_files/image001.gif){kind=small}
KEY RATIOS
|
PARTICULARS |
|
31.03.2012 |
31.03.2011 |
31.03.2010 |
|
PAT / Total Income |
(%) |
10.38
|
8.19
|
16.96 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
13.55
|
11.25
|
21.17
|
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
16.17
|
14.28
|
19.76
|
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
1.08
|
3.62
|
(2.06)
|
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
3.08
|
16.08
|
(8.75)
|
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.02
|
2.15
|
3.21
|
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) |
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 |
No |
|
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
|
Unsecured Loans |
31.03.2012 |
31.03.2011 |
|
|
(Rs. In Millions) |
|
|
Vadain International ( |
0.204 |
0.204 |
|
Total |
0.204 |
0.204 |
Note:
The registered office has been shifted from 574, Main Road, Chirag
Delhi, New Delhi – 110017, Delhi, India to
present address w.e.f.02.01.2012
CORPORATE
INFORMATION:
The Company is engaged in the business of manufacturing of carpet mats
for cars. The business is being carried out from its registered office at
Nariana Vihar, Delhi office at Udyog Vihar, Gurgaon and works at RIICO
Industrial Area, Bhiwadi, Rajasthan.
FIXED ASSETS:
Ø Land and Building
Ø Plant and Machinery
Ø Air Conditioners
Ø Electric Installation
Ø Fans
Ø Motor Car
Ø Computers
Ø UPS
Ø Cycle
Ø Water Equipments
Ø Inventor
Ø Transformer
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. 54.89 |
|
|
1 |
Rs. 83.66 |
|
Euro |
1 |
Rs. 70.58 |
INFORMATION DETAILS
|
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 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
4 |
|
--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 |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTERS |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
29 |
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.