MIRA INFORM REPORT
|
Report No. : |
309342 |
|
Report Date : |
24.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
SRG METALCRAFTS ( |
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Registered
Office : |
1011, 10th Floor, D’ Mall, Netaji Subhash Place, Pitampura,
New Delhi – 110 034 |
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Country : |
India |
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Financials (as
on) : |
31.03.2014 |
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Date of
Incorporation : |
24.09.2004 |
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Com. Reg. No.: |
55-129391 |
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Capital Investment
/ Paid-up Capital : |
Rs.15.040 millions |
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CIN No.: [Company Identification
No.] |
U27201DL2004PTC129391 |
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IEC No.: |
Not Available |
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TAN No.: [Tax Deduction &
Collection Account No.] |
DELS25590F |
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PAN No.: [Permanent Account No.] |
AAICS5428B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer of Industrial Crimped Wiremesh,
Vibrating Screen Mesh, SS Welded Mesh, Anti Clogging Screens, Self-Cleaning Meshes
and Perforation in all Metals, Copper and Aluminium Flexible Connectors,
Braided Links in Round and Flats, Stranded Wire Rope, Rods and Contacts. |
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|
|
|
No. of Employees
: |
100 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
B (26) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 64000 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is an established company having moderate track. Reserves of the company seems to be low during 2014. However, trade relations are reported as fair. Business is active. Payments
are reported to be slow but correct. The company can be considered for business dealings at usual trade
terms and conditions. |
ECGC Country Risk Classification List – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
EXTERNAL AGENCY RATING
NOT AVAILABLE
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
31-03-2014.
INFORMATION PARTED BY
|
Name : |
Mr. Sanjeev Dhir |
|
Designation : |
General Manager-Finance |
|
Contact No.: |
91-11-42470321 |
|
Date : |
01.2015 |
LOCATIONS
|
Registered Office/ Corporate Office : |
1011, 10th Floor, D’ Mall, Netaji Subhash Place, Pitampura,
New Delhi – 110 034, India |
|
Tel. No.: |
91-11-42470321-22 |
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Fax No.: |
91-11-42470324 |
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E-Mail : |
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Website : |
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Factory : |
42/43, Milestone, N.H.-01, G.T. Road, Sector-29, Bahalgarh Industrial
Zone, Sonipat – 131 201, Haryana, India |
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Location : |
Owned |
DIRECTORS
AS ON 25.09.2014
|
Name : |
Mr. Mahesh Aggarwal |
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Designation : |
Director |
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Address : |
AM-32, Shalimar Bagh, Delhi – 110 088, India |
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Date of Birth/Age : |
17.07.1969 |
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Date of Appointment : |
24.09.2004 |
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DIN No. : |
00222659 |
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Other Directorship :
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Name : |
Mr. Rajesh Aggarwal |
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Designation : |
Director |
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Address : |
AM-32, Shalimar Bagh, Delhi – 110 088, India |
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Date of Birth/Age : |
08.08.1968 |
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Date of Appointment : |
20.09.2008 |
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DIN No. : |
00222456 |
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Other Directorship :
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Name : |
Mr. Sadhu Ram Gupta |
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Designation : |
Director |
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Address : |
AM-32, Shalimar Bagh, Delhi – 110 088, India |
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Date of Birth/Age : |
26.09.1947 |
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Date of Appointment : |
25.05.2007 |
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DIN No. : |
00318898 |
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Other Directorship :
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KEY EXECUTIVES
|
Name : |
Mr. Sanjeev Dhir |
|
Designation : |
General Manager-Finance |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 25.09.2014
|
Names of Shareholders |
No. of Shares |
|
Mahesh Aggarwal |
645000 |
|
Reena Aggarwal |
35000 |
|
Sadhu Ram Gupta |
681000 |
|
Rajesh Aggarwal |
140000 |
|
Savtari Gupta |
1000 |
|
Anju Aggarwal |
1000 |
|
Prashant Aggarwal |
1000 |
|
Total |
1504000 |
AS ON 25.09.2014
Equity Share Break up (Percentage of Total Equity)
|
Category |
Percentage of Holding |
|
Directors or relatives of Directors |
100.00 |
%20PRIVATE%20LIMITED%20-%20309342%2024-Feb-2015_files/image001.gif)
BUSINESS DETAILS
|
Line of Business : |
Manufacturer of Industrial Crimped Wiremesh,
Vibrating Screen Mesh, SS Welded Mesh, Anti Clogging Screens, Self-Cleaning Meshes
and Perforation in all Metals, Copper and Aluminium Flexible Connectors,
Braided Links in Round and Flats, Stranded Wire Rope, Rods and Contacts. |
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Products : |
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Brand Names : |
Not Available |
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Agencies Held : |
Not Available |
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Exports : |
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Products : |
Finished Goods |
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Countries : |
Malaysia |
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Imports : |
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Products : |
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Countries : |
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Terms : |
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Selling : |
L/C, Cash and Credit |
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Purchasing : |
L/C, Cash and Credit |
PRODUCTION STATUS –
NOT AVAILABLE
GENERAL INFORMATION
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Suppliers : |
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Customers : |
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No. of Employees : |
100 (Approximately) |
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Bankers : |
·
State Bank of Hyderabad, A.L. Market,
Shalimar Bagh, Delhi – 110 088, India ·
Axis Bank Limited ·
ICICI Bank Limited |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Kailash Anand and Associates Chartered Accountant |
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Address : |
D-146, Old Gupta Colony, Delhi – 110 009, India |
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Tel. No. : |
91-11-45261521 |
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Mobile No. : |
91-9810704673 |
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E-Mail : |
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PAN
No.: |
AESPA7022G |
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Memberships : |
Not Available |
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Collaborators : |
Not Available |
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Other Related Parties : |
Sadhu Ram Gupta (HUF) |
CAPITAL STRUCTURE
AS ON 25.09.2014
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
2000000 |
Equity Shares |
Rs.10/- each |
Rs.20.000 millions |
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|
|
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Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
1504000 |
Equity Shares |
Rs.10/- each |
Rs.15.040 millions |
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|
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|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
I.
EQUITY
AND LIABILITIES |
|
|
|
|
(1)
Shareholders' Funds |
|
|
|
|
(a) Share Capital |
15.040 |
15.040 |
15.040 |
|
(b) Reserves & Surplus |
7.353 |
5.503 |
10.679 |
|
(c) Money
received against share warrants |
0.000 |
0.000 |
0.000 |
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|
|
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(2)
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Total
Shareholders’ Funds (1) + (2) |
22.393 |
20.543 |
25.719 |
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|
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(3) Non-Current
Liabilities |
|
|
|
|
(a) Long-term borrowings |
94.355 |
97.534 |
106.057 |
|
(b) Deferred tax liabilities (Net) |
1.356 |
1.666 |
1.983 |
|
(c) Other long term
liabilities |
0.000 |
0.000 |
0.000 |
|
(d) Long-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Non-current
Liabilities (3) |
95.711 |
99.200 |
108.040 |
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|
|
|
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(4) Current Liabilities |
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|
|
|
(a) Short
term borrowings |
30.936 |
29.970 |
31.775 |
|
(b) Trade
payables |
30.243 |
28.116 |
21.496 |
|
(c) Other
current liabilities |
3.181 |
1.097 |
1.248 |
|
(d) Short-term
provisions |
0.000 |
0.000 |
0.000 |
|
Total Current
Liabilities (4) |
64.360 |
59.183 |
54.519 |
|
|
|
|
|
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TOTAL |
182.464 |
178.926 |
188.278 |
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II.
ASSETS |
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|
|
|
(1) Non-current assets |
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|
|
|
(a) Fixed Assets |
|
|
|
|
(i)
Tangible assets |
79.523 |
87.229 |
95.800 |
|
(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 |
0.250 |
0.250 |
0.250 |
|
(c) Deferred tax assets (net) |
0.945 |
0.034 |
0.000 |
|
(d) Long-term Loan and Advances |
0.345 |
0.333 |
0.348 |
|
(e) Other
Non-current assets |
0.000 |
0.000 |
0.000 |
|
Total Non-Current
Assets |
81.063 |
87.846 |
96.398 |
|
|
|
|
|
|
(2) Current assets |
|
|
|
|
(a)
Current investments |
0.000 |
0.000 |
0.000 |
|
(b)
Inventories |
34.832 |
36.582 |
39.402 |
|
(c) Trade
receivables |
59.568 |
48.756 |
47.472 |
|
(d) Cash
and cash equivalents |
2.512 |
2.280 |
0.773 |
|
(e) Short-term
loans and advances |
2.437 |
1.309 |
1.307 |
|
(f) Other
current assets |
2.052 |
2.153 |
2.926 |
|
Total
Current Assets |
101.401 |
91.080 |
91.880 |
|
|
|
|
|
|
TOTAL |
182.464 |
178.926 |
188.278 |
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
|
|
SALES |
|
|
|
|
|
|
|
Revenue from operation |
191.536 |
187.275 |
176.484 |
|
|
|
Other Income |
0.047 |
0.072 |
0.058 |
|
|
|
TOTAL |
191.583 |
187.347 |
176.542 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
TOTAL |
190.954 |
192.874 |
175.030 |
|
|
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|
|
|
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|
PROFIT/
(LOSS) BEFORE TAX |
0.629 |
(5.527) |
1.512 |
|
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|
|
|
|
Less |
TAX |
(1.221) |
(0.351) |
0.467 |
|
|
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|
|
|
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|
|
PROFIT/
(LOSS) AFTER TAX |
1.850 |
(5.176) |
1.045 |
|
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|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
Nil
|
1.828 |
0.196 |
|
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|
|
|
|
|
|
|
|
Earnings /
(Loss) Per Share (Rs.) |
1.23 |
(3.44) |
NA |
|
Expected Sales (2014-2015): Rs.220.000 millions
The above information has been parted by Mr. Sanjeev Dhir (General
Manager-Finance).
KEY RATIOS
|
PARTICULARS |
|
31.03.2014 |
31.03.2013 |
31.03.2012 |
|
Net Profit Margin (PAT/Sales) |
(%) |
0.97 |
(2.76) |
0.59 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.35 |
(3.09) |
0.80 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.03 |
(0.27) |
0.06 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Debt/Networth) |
|
5.60 |
6.21 |
5.36 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
1.58 |
1.54 |
1.69 |
FINANCIAL ANALYSIS
[all figures are
in Rupees Millions]
DEBT EQUITY RATIO
|
Particular |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns.) |
(INR in Mlns.) |
(INR in Mlns.) |
|
Share Capital |
15.040 |
15.040 |
15.040 |
|
Reserves & Surplus |
10.679 |
5.503 |
7.353 |
|
Money received against share warrants |
0.000 |
0.000 |
0.000 |
|
Share Application money pending allotment |
0.000 |
0.000 |
0.000 |
|
Net worth |
25.719 |
20.543 |
22.393 |
|
|
|
|
|
|
Long Term borrowings |
106.057 |
97.534 |
94.355 |
|
Short Term borrowings |
31.775 |
29.970 |
30.936 |
|
Total borrowings |
137.832 |
127.504 |
125.291 |
|
Debt/Equity ratio |
5.359 |
6.207 |
5.595 |
%20PRIVATE%20LIMITED%20-%20309342%2024-Feb-2015_files/image002.gif)
YEAR-ON-YEAR GROWTH
|
Year on Year Growth |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from operation |
176.484 |
187.275 |
191.536 |
|
|
|
6.114 |
2.275 |
%20PRIVATE%20LIMITED%20-%20309342%2024-Feb-2015_files/image003.gif)
NET PROFIT MARGIN
|
Net Profit Margin |
31.03.2012 |
31.03.2013 |
31.03.2014 |
|
|
(INR in Mlns) |
(INR in Mlns) |
(INR in Mlns) |
|
Revenue from operation |
176.484 |
187.275 |
191.536 |
|
Profit |
1.045 |
(5.176) |
1.850 |
|
|
0.59% |
(2.76%) |
0.97% |
%20PRIVATE%20LIMITED%20-%20309342%2024-Feb-2015_files/image004.gif)
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 |
Yes |
|
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 |
NOTE:
The registered address of the company has been shifted from H-1192, DSIDC,
Narela Industrial Complex, Delhi – 110 040 to the present address w.e.f.
24.01.2011.
UNSECURED LOANS
|
PARTICULARS |
31.03.2014 (Rs.
In Millions) |
31.03.2013 (Rs.
In Millions) |
|
LONG TERM
BORROWINGS |
|
|
|
From Bank |
|
|
|
ICICI Bank Limited-Toyota Altis Car Loan |
0.484 |
0.000 |
|
Axis Bank Limited-Verna |
0.000 |
0.245 |
|
From Others |
|
|
|
Mahesh Aggarwal |
3.071 |
6.192 |
|
Rajesh Aggarwal |
8.423 |
0.802 |
|
Reena Aggarwal |
10.204 |
8.387 |
|
Anju Aggarwal |
8.164 |
6.767 |
|
Sadhu Ram Gupta (HUF) |
4.955 |
4.246 |
|
Savitri Gupta |
27.551 |
24.994 |
|
S.R. Gupta |
17.195 |
24.960 |
|
Prahant Aggarwal |
1.423 |
1.064 |
|
SHORT TERM
BORROWINGS |
|
|
|
From Bank |
|
|
|
ICICI Bank Limited-Toyota Altis Car Loan |
0.404 |
0.000 |
|
Axis Bank Limited-Vento Car Loan |
0.000 |
0.239 |
|
Axis Bank Limited-Audi Car Loan |
0.000 |
0.550 |
|
Axis Bank Limited-Verna |
0.245 |
0.333 |
|
Total |
82.119 |
78.779 |
INDEX OF CHARGES
|
S. No. |
Charge ID |
Date of Charge
Creation/Modification |
Charge amount secured |
Charge Holder |
Address |
Service Request Number
(SRN) |
|
1 |
10527218 |
23/09/2014 |
750,000.00 |
STANDARD CHARTERED BANK |
10, PARLIAMENT STREET,
NEW DELHI, DELHI - 110001, |
C30719207 |
|
2 |
10316879 |
28/10/2011 |
63,330,000.00 |
STANDARD CHARTERED BANK |
10, PARLIAMENT STREET,
NEW DELHI, DELHI - 110001, |
B25022328 |
|
3 |
10311688 |
21/11/2013 * |
52,081,000.00 |
STANDARD CHARTERED BANK |
10, PARLIAMENT STREET,
NEW DELHI, DELHI - 110001, |
B90851338 |
* Date of charge modification
FIXED ASSETS
· Car
· Computer
· Fire Fighting and Equipments
· Furniture and Fixture
· Generator
· Machinery
· Office Automation
· Refrigerator
· Motor Cycle
· Tool and Equipments
· Air Conditioner
· Crane
· Factory Building-Sonepat
· Land for Factory-Sonepat
· Lift
· Invertor
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.62.18 |
|
|
1 |
Rs.95.71 |
|
Euro |
1 |
Rs.70.76 |
INFORMATION DETAILS
|
Information
Gathered by : |
DIP |
|
|
|
|
Analysis Done by
: |
RAS |
|
|
|
|
Report Prepared
by : |
SMN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL
CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
-- PROFITABILITY |
1~10 |
2 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
2 |
|
--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 |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
DEFAULTER |
|
|
|
--RBI |
YES/NO |
NO |
|
--EPF |
YES/NO |
NO |
|
TOTAL |
|
26 |
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.