MIRA
INFORM REPORT
|
Report Date : |
24.11.2006 |
IDENTIFICATION
DETAILS
|
Name : |
INDIGO
MULTITRADE PRIVATE LIMITED |
|
|
|
|
Registered Office : |
416,
Bhaveshwar Complex, 4th Floor, Vidyavihar (West), Mumbai – 400086 |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2005 |
|
|
|
|
Date of Incorporation : |
04.07.2000 |
|
|
|
|
Com. Reg. No.: |
11-127563 |
|
|
|
|
CIN No.: [Company
Identification No.] |
U51900MH2000PTC127563 |
|
|
|
|
TAN No.: [Tax
Deduction & Collection Account No.] |
MUMI03840E |
|
|
|
|
Legal Form : |
Private
Limited Liability Company |
|
|
|
|
Line of Business : |
Company
is engaged Marketing, Trading and Promoting different products and commodities
covering wide range of fields catering to number of industries and clients and Commissions Agent |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD
10000 |
|
|
|
|
Status : |
Satisfactory
|
|
|
|
|
Payment Behaviour : |
Usually
Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject
is a well – established marketing and commissions agent Trade
relations are fair. Nothing adverse reported. Payments are usually correct
and as per commitments. The
company can be considered normal for business dealings at usual trade terms
and conditions. |
LOCATIONS
|
Registered Office : |
416,
Bhaveshwar Complex, 4th Floor, Vidyavihar (West), Mumbai – 400086 |
|
Tel. No.: |
91-22-25021144 |
|
Website : |
|
|
|
|
|
Branches
: |
408,
Bhaveshwar Complex, Vidyavihar (West), Mumbai – 400086 |
|
Tel.
No.: |
91-22-25092470/71/72 |
|
Fax
No.: |
91-22-25090595 |
|
E-Mail
: |
DIRECTORS
|
Name : |
Mr.
Rajesh Nambrath Nair |
|
Designation : |
Director
|
|
Address : |
203, C
– 41, Triveni Vasant Vihar, Thane – 400601 |
|
Date of Birth/Age : |
05.11.1969 |
|
Date of Appointment : |
04.07.2000 |
|
|
|
|
Name : |
Mr.
Dinesh Nambrath Nair |
|
Designation : |
Director
|
|
Address : |
204, C
– 41, Triveni Vasant Vihar, Thane – 400601 |
|
Date of Birth/Age : |
22.06.1972 |
|
Date of Appointment : |
04.07.2000 |
|
|
|
|
Name : |
Mr.
Nambrath Narayan Nair |
|
Designation : |
Director
|
|
Address : |
704, C
– 41, Triveni Vasant Vihar, Thane – 400601 |
|
Date of Birth/Age : |
15.10.1941 |
|
Date of Appointment : |
04.07.2000 |
MAJOR SHAREHOLDERS
|
Names
of Shareholders |
No. of Shares |
|
Mr.
Nambrath Narayan Nair |
5100 |
|
Mr.
Rajesh Nambrath Nair |
5100 |
|
Mr.
Dinesh Nambrath Nair |
5100 |
BUSINESS DETAILS
|
Line of Business : |
Company
is engaged Marketing, Trading and Promoting different products and commodities
covering wide range of fields catering to number of industries and clients and Commissions Agent |
GENERAL
INFORMATION
|
No. of Employees : |
10 |
|
|
|
|
Bankers : |
Corporation
Bank |
|
|
|
|
Facilities : |
-- |
|
|
|
|
Banking Relations : |
-- |
|
|
|
|
Auditors : |
Gala
Haria & Associates Chartered
Accountant |
|
Address: |
103/104,
Bhareshwar Complex, 1st Floor, Vidyavihar (West), Mumbai – 400086 |
|
Tel. No.: |
91-22-25104563 |
|
|
|
|
Associates/Subsidiaries : |
Nil |
CAPITAL STRUCTURE
Authorised
Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
40000 |
Equity
Shares |
Rs. 10/- Each |
Rs. 0.400 Millions |
|
500 |
Preference
shares |
Rs. 100/- Each |
Rs. 0.050 Millions |
|
|
Non
Classified Shares |
|
Rs. 0.050 Millions |
|
|
Total |
|
Rs. 0.500 Millions |
Issued,
Subscribed & Paid-up Capital :
|
No.
of Shares |
Type |
Value |
Amount |
|
15300 |
Equity
Shares |
Rs. 10/- Each |
Rs. 0.153 Millions |
FINANCIAL DATA
[all figures are in Rupees
Millions]
ABRIDGED
BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
0.153 |
0.153 |
0.273 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
0.535 |
0.391 |
0.150 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
0.688 |
0.544 |
0.423 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.701 |
1.164 |
0.532 |
|
|
TOTAL BORROWING |
0.701 |
1.164 |
0.532 |
|
|
DEFERRED TAX LIABILITIES |
0.016 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
1.405 |
1.708 |
0.955 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
1.164 |
1.464 |
0.486 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
0.000
|
0.000 |
|
|
|
Sundry Debtors |
0.357
|
0.297 |
|
|
|
Cash & Bank Balances |
0.006
|
0.151 |
0.963 |
|
|
Other Current Assets |
0.000
|
0.000 |
|
|
|
Loans & Advances |
0.378
|
0.864 |
|
|
Total Current Assets |
0.741
|
1.312 |
0.963 |
|
|
Less : CURRENT LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities & provisions |
0.500
|
1.073 |
0.505 |
|
|
Provisions |
|
|
0.000 |
|
Total Current Liabilities |
0.500
|
1.073 |
0.505 |
|
|
Net Current Assets |
0.241
|
0.239 |
0.458 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.005 |
0.011 |
|
|
|
|
|
|
|
|
TOTAL |
1.405 |
1.708 |
0.955 |
|
PROFIT
& LOSS ACCOUNT
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
|
Sales Turnover [including other income] |
|
2.279 |
3.067 |
|
|
|
|
|
|
Profit/(Loss)
Before Tax |
|
0.636 |
0.671 |
|
Provision
for Taxation |
|
0.487 |
0.430 |
|
Profit/(Loss)
After Tax |
|
0.149 |
0.241 |
|
|
|
|
|
|
Export
Value |
|
1.124 |
1.699 |
|
|
|
|
|
|
Total
Expenditure |
|
2.006 |
2.732 |
KEY
RATIOS
|
PARTICULARS |
|
31.03.2005 |
31.03.2004 |
31.03.2003 |
|
PAT / Total Income |
(%) |
6.53
|
7.85 |
-- |
|
|
|
|
|
|
|
Net
Profit Margin (PBT/Sales) |
(%) |
27.90
|
21.87 |
-- |
|
|
|
|
|
|
|
Return
on Total Assets (PBT/Total
Assets} |
(%) |
33.38
|
24.17 |
-- |
|
|
|
|
|
|
|
Return
on Investment (ROI) (PBT/Networth) |
|
0.92
|
1.23 |
-- |
|
|
|
|
|
|
|
Debt
Equity Ratio (Total
Liability/Networth) |
|
1.74
|
4.11 |
2.45 |
|
|
|
|
|
|
|
Current
Ratio (Current
Asset/Current Liability) |
|
1.48
|
1.22 |
1.90 |
LOCAL AGENCY
FURTHER INFORMATION
Director
Report
During
the pervious year under consideration income of the company reduced by Appox.
25.45%. The profit after depreciation provision for tax and deferred tax
liability of the company stood at Rs. 0.148 Millions as against Rs. 0.240
Millions corresponding to previous accounting year.
Fixed
Assets
v
Furniture
& Fixture
v
Motor
Car
v
Fax
Machine
v
Air
Conditioners
v
Computer
v
Xerox
Machine
Profile
Indigo Multitrade has been actively involved in the field of marketing,
trading and promoting different products and commodities covering wide range of
fields catering to number of industries and clients.
They represent a large number of customers
worldwide and meet their regular requirements not only from the Indian
sub-continent but also from South East Asia.
With their business associates in many South
Asian countries, they have been able to meet their customers' necessities from
these regions.
The company's goodwill, experience and
proficiency are an asset, with which they aim to develop new partners and new
markets for new products, both for import to India and export from India.
The company has been expanding its operational
areas to different new regions thereby establishing business connections with
new foreign partners for different products and services.
With Liberalisation and Globalisation of Indian
economy since 1991, Indigo has become more active in new fields of business and
economic co-operation and are always on the lookout for newer and fresher
avenues for entering into business co-operation with partners of varied
business activities and interest.
While Indigo, looks back with legitimate pride on its progress,
achievement and activities, it also looks forward for further expanding its
horizon of activities and operation in Global Trade by establishing new
business co-operations with partners around the globe. Thereby, setting newer
and more challenging goals.
Export
Indigo represents a large number of customers all over the world and
meets their regular requirements not only from the Indian sub-continent but
also from South East Asia. With their business associates in many South Asian
countries, they have able to meet their customers' necessities from these
regions.
The company has been expanding its operational areas to different new
regions thereby establishing business connection with new foreign partners for
different products and services.
Import
Indigo, has their own Import and Marketing division,
which is involved in the Import and Marketing of many products regularly. The
products marketed by us are broad based from Printing Industry, to
Pharmaceuticals, to Fruits. INDIGO is ever interested to increase their product
base by introducing new products in various fields as their experience and over
35 years of Goodwill has ensured a great market reputation. Some of the
products that are regularly imported are given below, besides which they are
also interested in any product you wish to market in India.
INDIGO has been actively involved in the import and
distribution of widely used consumer products
Associates
Indigo Multitrade, for the past many years have successfully been able
to extend its boundaries of supply source to neighboring countries and are able
to offer excellent quality product from their dynamic and largely experienced
associates in SRI LANKA and MALAYSIA.
Products offered by us from SRI LANKA and MALAYSIA are products which
these countries are famous worldwide. Like Coconut and its byproducts from Sri
Lanka are synonymous with Sri Lanka.
CMT REPORT [Corruption, Money
laundering & Terrorism]
The
Public Notice information has been collected from various sources including but
not limited to: The Courts, India Prisons Service, Interpol, etc.
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.44.87 |
|
UK
Pound |
1 |
Rs.85.99 |
|
Euro |
1 |
Rs.58.15 |
SCORE &
RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
5 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
45 |
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |
|
NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
|