MIRA INFORM REPORT
|
Report Date : |
06.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
EXCLUSIVE OVERSEAS PRIVATE LIMITED |
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Registered
Office : |
31/3203, Beadon Pura, Karol Bagh , New Delhi – 110005 |
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Country : |
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Financials (as
on) : |
31.03.2013 |
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Date of
Incorporation : |
04.01.1996 |
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Com. Reg. No.: |
55-075187 |
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Capital
Investment / Paid-up Capital : |
Rs.49.800
Millions |
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CIN No.: [Company Identification
No.] |
U51311DL1996PTC075187 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELE01557D |
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PAN No.: [Permanent Account No.] |
AAACE2609J |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Textile Products. |
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No. of Employees
: |
120 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (45) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 380000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having satisfactory track. General financial position of the company seems to be sound.
Profitability of the company is fair. Trade relations are fair. Business is active. Payment terms are
reported to be usually correct. The company can be considered for business dealings at usual trade
terms and conditions. |
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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
US investment bank
Goldman Sachs has upgraded its outlook on Indian markets as it expects positive
impact of the election cycle.
India’s economy may
grow 4.7 % in the current financial year, lower than the official estimate of
4.9 %, Fitch Rating said. The global rating agency expects the economy to pick
up in the next two financial years.
Global ratings
agency Standard & Poor said increasing focus by India Inc on lowering debt
is likely to improve their credit profiles.
Singapore (1.1
million Indian tourists in 2012), Thailand (one million), the United Arab
Emirates ().98 million) and Malaysia ().82 million) emerged as the preferred
holidays hotspots for Indians. The total figure is expected to increase to 1.93
million by 2017, according to the latest Eurmonitor international report.
There is a $29.34 bn
outward foreign direct investment by domestic companies between April and
January of 2013/14 which has seen some signs of recovery according to a Care
Ratings report.
There are 264 number
of new companies being set up every day on average during 2014. Most of them
are registered in Mumbai. India had 1.38 million registered companies at the
end of January, 2014.
Twitter like
messaging service Weibo Corporation has filed to raise $ 500 million via a US
initial public offering. Alibaba, which owns a stake in Weibo is expected to
raise about $ 15 billion New York this year in the highest profile Internet IPO
since Facebook’s in 2012.
Bharti Airtel has
raised Rs.2,453.2 crore (350 million Swiss Francs) by selling six-year bonds at
a coupon rate of three per cent and maturing in 2020. This is the largest ever
bond offering by an Indian company in Swiss Francs. Bharat Petroleum
Corporation raised 175 million Swiss Francs by selling five year bonds at 2.98
% coupon rate in February.
Indian Oil
Corporation plans to invest Rs.7650 crore in setting up a petrochemical complex
at its almost complete Paradip refinery in Odhisha in three to four years. The
company board is set to consider the setting up of a 700000 tonne per annum
polypropylene plant at an estimated cost at Rs.3150 crore.
Global chief
information officers at gathering in Bangalore in April to meet Indian startups
at an event called Tech50 Watchout for Little Eye Labs-Facebook type deals in
the making.
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. Rajeev Agarwal |
|
Designation : |
Director |
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Contact No.: |
91-9811035872 |
|
Date : |
03.05.2014 |
LOCATIONS
|
Registered Office : |
31/3203, Beadon Pura, Karol Bagh, New Delhi – 110005, India |
|
Tel. No.: |
91-11-28725281 |
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Mobile No.: |
91-9811035872 (Mr. Rajeev Agarwal) |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Locality : |
Commercial |
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Factory 1 : |
HR – 15 ,Sharma Market, Pul Pehladpur, New Delhi – 110044, India |
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Tel. No.: |
91-11–26369884 /5/ 6 |
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Fax No.: |
91-11–26365812 |
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E-Mail : |
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Factory 2 : |
27, Bommasandra Industrial Area, 4th Phase, Jigni Link Road, Bangalore – 560099, Karnataka, India |
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Tel. No.: |
91-80-27839626 |
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E-Mail : |
DIRECTORS
(AS ON 27.09.2013)
|
Name : |
Mr. Rajeev Aggarwal |
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Designation : |
Director |
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Address : |
34, Block III, 2nd Floor, Charmwood Village, Faridabad -
121009, Haryana, India |
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Date of Birth/Age : |
22.07.1967 |
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Date of Appointment : |
04.01.1996 |
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DIN No.: |
00442120 |
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Other Directorship :
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Name : |
Mrs. Meenu Aggarwal |
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|
Designation : |
Director |
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|
Address : |
34, Block III, 2nd Floor, Charmwood Village, Faridabad -
121009, Haryana, India |
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Date of Birth/Age : |
20.05.1970 |
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Date of Appointment : |
04.01.1996 |
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DIN No.: |
00442229 |
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Other Directorship :
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MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
(AS ON 27.09.2013)
|
Name of
Shareholders |
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No of
Shares |
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|
Rajeev Aggarwal |
|
960000 |
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Meenu Aggarwal |
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960000 |
|
Ways Infotechnologies Private Limited, India
|
|
1200000 |
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Exclusive Fincap Private Limited, India |
|
1200000 |
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Riddhi Aggarwal |
|
220000 |
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Jahnvi Aggarwal |
|
220000 |
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Krrish Aggarwal |
|
220000 |
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Total |
|
4980000 |
AS ON 27.09.2013
|
Equity Share Breakup |
Percentage of Holding |
|
Category |
|
|
Bodies
corporate |
48.19 |
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Directors
or relatives of directors |
51.81 |
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|
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer of Textile Products. |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
· USA · Saudi Arabia · Mauritius |
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Imports : |
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Products : |
Raw Material |
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Countries : |
· Korea · China · Thailand · Taiwan |
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Terms : |
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Selling : |
Cash and Credit |
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Purchasing : |
Cash, Credit and Depend |
GENERAL INFORMATION
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Suppliers : |
· A-1 Polyfill Industries · Asian Resources Limited · Jagdish Thread Company · Jawala Poly Threads · Mayur Yarn Thread Private Limited · Natural Thread Industries · Star Comfort Industries · Sri Balaji Enterprises · Needle Marketing Private limited · Sai Balaji Wadding Industries · Star Waddings · Sha Bhaniram Pukhraj and Company |
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Customers : |
Others · A. K. Enterprises · Arcon International · Aruna Textiles · Aransh Exports · Astha International · B.C. Textiles · Chalo Holding · Fashion Stich · Flying Fashion · H. R. Enterprises · Indo Crafts |
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No. of Employees : |
120 (Approximately) |
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Bankers : |
· Corporation Bank Karol Bagh Branch, Karol Bagh, New Delhi - 110005, India ·
Corporation Bank 13/32, Wea, Main Arya Samaj
Road, Karol Bagh, New Delhi - 110005, India |
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Facilities : |
Cash Credit – Rs.105.000 Millions Limit Credit – Rs.62.500
Millions
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Parm and Smrn Chartered Accountants |
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Address : |
Office No.403, Block-B, NDM-1, Mall Road, Netaji Subhash Place, Pitampura,
New Delhi – 110034, India |
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Tel. No.: |
91-11-47050400-05 |
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Fax No.: |
91-11-47050405 |
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E-Mail : |
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PAN
No.: |
AAJFP2311C |
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Associates : |
· Exclusive Printographics Private Limited · Exclusive Fibers Private Limited |
CAPITAL STRUCTURE
AS ON 27.09.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
7,500,000 |
Equity Shares |
Rs.10/- each |
Rs.75.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,980,000 |
Equity Shares |
Rs.10/- each |
Rs.49.800
Millions |
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AS ON 31.03.2013
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
5,000,000 |
Equity Shares |
Rs.10/- each |
Rs.50.000 Millions |
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
4,980,000 |
Equity Shares |
Rs.10/- each |
Rs.49.800
Millions |
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|
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|
FINANCIAL DATA
[All figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
I.
EQUITY AND LIABILITIES |
|
|
|
|
(1)Shareholders'
Funds |
|
|
|
|
(a) Share Capital |
49.800 |
24.900 |
24.900 |
|
(b) Reserves & Surplus |
46.264 |
70.040 |
33.767 |
|
(c) Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
(2) Share
Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
96.064 |
94.940 |
58.667 |
|
|
|
|
|
|
(3) Non-Current Liabilities |
|
|
|
|
(a) long-term borrowings |
7.190 |
10.118 |
10.361 |
|
(b) Deferred tax liabilities (Net) |
2.230 |
2.234 |
2.168 |
|
(c)
Other long term liabilities |
0.000 |
0.000 |
0.006 |
|
(d)
long-term provisions |
0.000 |
0.000 |
0.000 |
|
Total
Non-current Liabilities (3) |
9.420 |
12.352 |
12.535 |
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(4)
Current Liabilities |
|
|
|
|
(a)
Short term borrowings |
114.153 |
55.867 |
36.363 |
|
(b)
Trade payables |
1.213 |
9.296 |
6.601 |
|
(c)
Other current liabilities |
3.679 |
2.687 |
3.965 |
|
(d)
Short-term provisions |
1.311 |
1.014 |
1.436 |
|
Total
Current Liabilities (4) |
120.356 |
68.864 |
48.365 |
|
|
|
|
|
|
TOTAL |
225.842 |
176.156 |
119.567 |
|
|
|
|
|
|
II.
ASSETS |
|
|
|
|
(1)
Non-current assets |
|
|
|
|
(a)
Fixed Assets |
|
|
|
|
(i)
Tangible assets |
102.247 |
105.981 |
68.742 |
|
(ii)
Intangible Assets |
0.000 |
0.000 |
0.000 |
|
(iii)
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
(iv) Intangible assets under development |
0.000 |
0.000 |
0.000 |
|
(b) Non-current
Investments |
0.000 |
0.000 |
0.000 |
|
(c) Deferred tax assets
(net) |
0.000 |
0.000 |
0.000 |
|
(d) Long-term Loan
and Advances |
0.080 |
0.078 |
0.083 |
|
(e)
Other Non-current assets |
0.000 |
2.720 |
2.720 |
|
Total
Non-Current Assets |
102.327 |
108.779 |
71.545 |
|
|
|
|
|
|
(2)
Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
66.926 |
48.878 |
8.745 |
|
(c)
Trade receivables |
41.403 |
14.823 |
28.282 |
|
(d)
Cash and cash equivalents |
0.524 |
0.389 |
9.502 |
|
(e)
Short-term loans and advances |
5.738 |
1.437 |
0.420 |
|
(f)
Other current assets |
8.924 |
1.850 |
1.073 |
|
Total
Current Assets |
123.515 |
67.377 |
48.022 |
|
|
|
|
|
|
TOTAL |
225.842 |
176.156 |
119.567 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2013 |
31.03.2012 |
31.03.2011 |
|
|
|
SALES |
|
|
|
|
|
|
|
|
|
170.170 |
145.648 |
|
|
|
Other Income |
|
1.794 |
1.396 |
|
|
|
TOTAL |
249.527 |
171.964 |
147.044 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
|
166.271 |
140.059 |
|
|
|
|
|
|
|
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|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
(Including Depreciation
Expenses) |
5.693 |
6.985 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
|
2.343 |
1.881 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
4.901 |
3.350 |
5.104 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.306 |
1.081 |
2.085 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
3.595 |
2.269 |
3.019 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.72 |
0.91 |
1.21 |
|
|
Particulars |
|
|
31.03.2014 |
|
Sales Turnover (Approximately) |
|
|
300.000 |
The above information has been parted by Mr. Rajeev Aggarwal.
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 |
Yes |
|
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 |
CORPORATE
INFORMATION
Subject is a Private Limited Company incorporated in India on 04.01.1996
under the provisions of The Companies Act, 1956. The company is engaged in
business of all kind of textiles, textile materials, fabrics, yarns, threads,
cloths and other items.
INDEX OF CHARGES
|
S.NO. |
CHARGE ID |
DATE OF CHARGE CREATION/MODIFICATION |
CHARGE AMOUNT SECURED |
CHARGE HOLDER |
ADDRESS |
SERVICE REQUEST NUMBER (SRN) |
|
1 |
10390529 |
16/10/2012 |
250,000,000.00 |
CORPORATION BANK |
KAROL BAGH BRANCH, KAROL BAGH, NEW DELHI - 110005, INDIA |
B63560379 |
|
2 |
10222787 |
29/11/2012 * |
131,830,000.00 |
CORPORATION BANK |
KAROL BAGH BRANCH, KAROL BAGH, NEW DELHI - 110005, INDIA |
B64621436 |
* Date of charge modification
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.60.05 |
|
|
1 |
Rs.101.32 |
|
Euro |
1 |
Rs.83.43 |
INFORMATION DETAILS
|
Information
Gathered by : |
PLK |
|
|
|
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
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.