MIRA INFORM REPORT
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Report Date : |
27.01.2014 |
IDENTIFICATION DETAILS
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Name : |
NEW INDIA ELECTRICALS LIMITED |
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Registered Office : |
Desai House, 39/2, |
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Country : |
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Financials (as
on) : |
31.03.2002 |
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Date of Incorporation : |
15th April 1994 |
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Com. Reg. No.: |
08-15512 |
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Legal Form : |
A closely held public limited liability company |
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Line of Business : |
Dealers, distributors, and traders of all kinds of electrical goods |
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
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Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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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 |
INDIAN ECONOMIC OVERVIEW
India’s current account
deficit narrowed in the quarter ended September as government measures to curb
imports, especially gold, kicked in. The current account deficit, the
excess of a country’s imports of goods and services over exports, narrowed to $
5.2 billion from $ 21 billion in the year ago period, according to provisional
Reserve Bank of India data. Finance Minister P. Chidambaram said the CAD for
the year will be less than $ 60 billion or 3 per cent of GDP and the latest
data suggests the government may achieve the target.
India was ranked 94th
among the world’s most corrupt nations list. Denmark and New Zealand topped as
the cleanest while Somalia emerged as the most corrupt.
India’s services sector
activity witnessed a moderate improvement in November over the previous month,
even while indicating the fifth successive monthly contraction, according the
HSBC survey.
$53 million
estimated losses suffered by India due to phishing attacks during the third
quarter, according to a study by RSA. India ranks fourth in the list of nations
hit by phishing attacks. The US remained at the top of the charts. Phishing is
the process of acquiring information such as user names, passwords and credit
card details by sending e-mails disguised as official mails.
Rs.4080 million
worth of mobile-phone-based transactions by July 2013 compared to Rs.260
million in September, 2012, according to Deloitte report. The number of
transactions has shot up from 94000 to 701000.
India aims to earn
Rs.400000 million from the bandwidth auction set for January. The merger and
acquisition guidelines, cleared by a group of ministers, will be out before the
auction begins so that players can make informed decisions on the auctions.
LOCATIONS
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Registered Office : |
Desai House, 39/2, J. C. Road, Bangalore-560025, Karnataka, India |
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Tel. No.: |
91-80-22235230/22235434/22235254/22995052 |
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Fax No.: |
91-80-22226666 |
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E-Mail : |
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Website : |
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Overseas Associate
Offices: |
Srilanka: USA: U.A.E. |
DIRECTORS
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Name : |
Pramila N Desai |
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Designation : |
Director |
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Address : |
105, Serpentinenest, Kumarapark West, Banglore-560020 |
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Date of Appointment : |
15th April 1994 |
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Name : |
Hemanshu N Desai |
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Designation : |
Director |
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Address : |
105, Serpentinenest, Kumarapark West, Banglore-560020 |
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Date of Appointment : |
15th April 1994 |
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Name : |
Nipul N Desai |
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Designation : |
Director |
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Address : |
105, Serpentinenest, Kumarapark West, Banglore-560020 |
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Date of Appointment : |
15th April 1994 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
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Names of Shareholders |
No. of Shares |
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Pramila N Desai |
27000 |
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Hemanshu N Desai |
37300 |
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Nipul N Desai |
34700 |
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Payal N Desai |
9000 |
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Amisha N Desai |
9500 |
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Shreyanesh |
6500 |
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TOTAL |
124000 |
BUSINESS DETAILS
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Line of Business : |
Dealers, distributors, and traders of all kinds of
electrical goods |
GENERAL INFORMATION
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Bankers : |
Not Available |
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Auditors : |
Kumbhat and Company Chartered Accountants Primrose Road, M G Road Cross, Bangalore -560001 |
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Associates/Subsidiaries : |
· Kirloskar Electric Company Limited · Alakh · Khatau Junker · Wilden · Chemfleo · Kheraj · Totodel |
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CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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150000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.500 Millions |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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124000 |
Equity Shares |
Rs. 10/- each |
Rs. 1.240 millions |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES
OF FUNDS |
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31.03.2002 |
31.03.2001 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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1.240 |
1.240 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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0.740 |
0.540 |
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4] (Accumulated Losses) |
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0.000 |
0.000 |
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NETWORTH
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1.980 |
1.780 |
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LOAN FUNDS |
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1] Secured Loans |
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0.230 |
0.240 |
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2] Unsecured Loans |
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0.160 |
0.000 |
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TOTAL BORROWING
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0.390 |
0.240 |
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DEFERRED TAX LIABILITIES |
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TOTAL
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2.370 |
2.020 |
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APPLICATION OF FUNDS
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FIXED ASSETS [Net Block]
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1.160 |
1.440 |
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Capital work-in-progress
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0.000 |
0.000 |
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INVESTMENT
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0.000 |
0.000 |
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DEFERREX TAX ASSETS
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS &
ADVANCES
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Inventories
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3.760 |
4.930 |
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Sundry Debtors
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0.320 |
0.310 |
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Cash & Bank Balances
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2.430 |
3.210 |
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Other Current Assets
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0.000 |
0.000 |
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Loans & Advances
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3.610 |
2.660 |
Total Current Assets
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10.120 |
11.110 |
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Less :
CURRENT LIABILITIES & PROVISIONS
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Current Liabilities
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8.910 |
10.530 |
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Provisions
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Total Current Liabilities
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8.910 |
10.530 |
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Net Current Assets
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1.210 |
0.580 |
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MISCELLANEOUS EXPENSES
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0.000 |
0.000 |
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TOTAL
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2.370 |
2.020 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2002 |
31.03.2001 |
Sales Turnover [including other
income]
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31.310 |
28.970 |
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Profit/(Loss) Before Tax
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0.300 |
0.190 |
Provision for Taxation
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0.100 |
0.100 |
Profit/(Loss) After Tax
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0.200 |
0.090 |
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Export Value
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0.850 |
0.050 |
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Import Value
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Nil |
Nil |
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Total Expenditure
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NA |
NA |
KEY RATIOS
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PARTICULARS |
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31.03.2002 |
31.03.2001 |
PAT / Total Income
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(%)
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0.64 |
0.31 |
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Net Profit Margin
(PBT/Sales) |
(%) |
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0.96 |
0.65 |
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Return on Total Assets
(PBT/Total Assets} |
(%) |
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2.66 |
1.51 |
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Return on Investment (ROI)
(PBT/Networth) |
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0.15 |
0.11 |
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Debt Equity Ratio
(Total Liability/Networth) |
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4.70 |
6.05 |
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Current Ratio
(Current Asset/Current Liability) |
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1.14 |
1.06 |
LOCAL AGENCY FURTHER INFORMATION
Not Available
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.18 |
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1 |
Rs.103.38 |
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Euro |
1 |
Rs.85.09 |
INFORMATION DETAILS
|
Report Prepared
by : |
KVT |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.