MIRA
INFORM REPORT
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Report Date : |
04.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
NAKODA LIFESTYLE PRIVATE LIMITED |
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Registered Office : |
1003 Adarsh Tower, Adarsh Complex, Off Marve Road, Malad (West),
Mumbai – 400 064, Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
16.05.2005 |
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Com. Reg. No.: |
11-153095 |
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CIN No.: [Company
Identification No.] |
U52334MH2005PTC153095 |
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IEC No.: |
0305025686 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMN13219D |
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PAN No.: [Permanent
Account No.] |
AACCN1066G |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Exporter of Best Quality Cookware Items |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow |
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Litigation : |
Clear |
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Comments : |
Subject is a 3 years old company having moderate track. Company’s
profitability is under severe pressure. Financial position is weak having good amount of accumulated losses.
Payments are reported as slow at times. The company can be considered for any business dealings on safe and
secured terms, only. |
INFORMATION PARTED
BY
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Name : |
Mr. Shreepal Jain |
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Designation : |
Director |
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Contact No.: |
91-9323949544 |
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Date : |
01.12.2008 |
LOCATIONS
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Registered Office : |
1003 Adarsh Tower, Adarsh Complex, Off Marve Road, Malad (West),
Mumbai – 400 064, Maharashtra, India |
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Tel. No.: |
91-22-28654343 |
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Mobile No.: |
91-9323949544 / 9323949543 |
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Fax No.: |
91-22-28634242 |
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E-Mail : |
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Area : |
1000 Sq. ft. |
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Location : |
Owned |
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Factory : |
8, Land Mark Industrial Estate, Sativali Road, Vasai (East), Thane,
Maharashtra, India |
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Tel. No.: |
91-250-3211811 |
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Area : |
3000 Sq. ft. |
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Location : |
Leased |
DIRECTORS
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Name : |
Mr. Shreepal B Jain |
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Designation : |
Managing Director |
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Address : |
1003 Adarsh Tower, Adarsh Complex, Off Marve Road, Malad (West),
Mumbai – 400 064, Maharashtra, India |
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Date of Birth/Age : |
20.07.1966 |
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Qualification : |
B.Com |
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Date of Appointment : |
06.05.2005 |
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Name : |
Mr. Rakesh B Borana |
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Designation : |
Director |
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Address : |
1003 Adarsh Tower, Adarsh Complex, Off Marve Road, Malad (West), Mumbai
– 400 064, Maharashtra, India |
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Date of Birth/Age : |
25.05.1971 |
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Qualification : |
B.Com |
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Date of Appointment : |
06.05.2005 |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
(As on 29.09.2007)
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Names of Shareholders |
No. of Shares |
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Shreepal B Jain |
5000 |
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Rakesh B Borana |
5000 |
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Badamidevi B Jain |
2500 |
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Asha R Borana |
2500 |
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Sangeeta S Jain |
2500 |
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Total |
17500 |
Equity Share Breakup (Percentage of Total Equity)
(As on 29.09.2007)
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Category |
Percentage |
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Directors or relatives of directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Exporter of Best Quality Cookware Items |
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Products : |
·
L.P.G. Gas
Stove (Solo One Burner) |
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Exports : |
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Products : |
Cookware Items |
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Countries : |
·
UAE ·
Canada ·
Oman ·
Bahrain ·
Kuwait ·
Sri Lanka ·
Malaysia |
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Imports : |
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Products : |
Raw Material |
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Countries : |
·
China ·
Taiwan ·
Hong Kong |
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Terms : |
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Selling : |
L/C - Against Documents |
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Purchasing : |
Advance, Against Documents |
GENERAL
INFORMATION
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Customers : |
·
Wholesalers ·
Distributors |
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No. of Employees : |
51 (In Office 1, In Factory 50 and 40 Contract) |
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Bankers : |
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Bank of Baroda, Kandivali (West) ·
ICICI Bank Limited ·
Excellent Co-Operative Bank |
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Banking
Relations : |
- |
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Auditors : |
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Name : |
K B Jain and Associates Chartered Accountants |
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Address : |
7, Oceanic House, 310, J S S Road, Thakurdwar, Karel Wadi, Mumbai –
400 002, Maharashtra, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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50000 |
Equity Shares |
Rs.10/- each |
Rs.0.500 million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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17500 |
Equity Shares |
Rs.10/- each |
Rs.0.175
million |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2007 |
31.03.2006 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.175 |
0.175 |
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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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0.000 |
0.000 |
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4] (Accumulated Losses) |
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(0.852) |
(0.570) |
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NETWORTH |
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(0.677) |
(0.395) |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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2.484 |
1.484 |
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TOTAL BORROWING |
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2.484 |
1.484 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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1.807 |
1.089 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.242 |
0.186 |
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Capital work-in-progress |
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0.025 |
0.013 |
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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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1.424 |
0.724 |
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Sundry Debtors |
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0.013 |
0.122 |
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Cash & Bank Balances |
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1.155 |
0.289 |
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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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0.892 |
0.583 |
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Total
Current Assets |
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3.484 |
1.718 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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1.844 |
0.686 |
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Provisions |
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0.121 |
0.165 |
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Total
Current Liabilities |
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1.965 |
0.851 |
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Net Current Assets |
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1.519 |
0.867 |
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MISCELLANEOUS EXPENSES |
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0.021 |
0.023 |
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TOTAL |
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1.807 |
1.089 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Earnings in Foreign Currency : |
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6.823 |
(3.567) |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
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Debt Equity Ratio (Total Liability/Networth) |
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(6.57) |
(5.91) |
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Current Ratio (Current Asset/Current Liability) |
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1.77 |
2.02 |
LOCAL AGENCY
FURTHER INFORMATION
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Additional Requirement
of Indiamart for Trust-Seal |
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Service Tax No. : -- |
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Excise Registration No.: -- |
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VAT / TIN : 27050385156 |
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IEC Code : 0305025686 |
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PAN / TAN : AACCN1066G |
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Bank Name : Bank of Baroda |
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Bank Address : Kandivali (West) |
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Bank A/c. No.: 26110200000280 |
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Account Since : 3 Years |
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In case of any affiliations / memberships / certifications : |
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Name : -- |
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Type : -- |
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Expiry Date : -- |
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Trade References
·
Asian Marketing, Colombo
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BDKS Enterprises, Canada
Fixed Assets
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Computer System
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Furniture and Fixture
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Moulds and Tools
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Office Equipment
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Testing and Measuring
Web Details
They Nakoda group are one of the names in Indian Kitchenware Industry
and are committed to produce consistent quality of cookwares with the best
workmanship and value for money products.
Incepted in year 2004, by Mr. Shreepal Jain a highly experienced professional
in the marketing and production of new kitchenware products, they have built
excellent reputation in Indian kitchenware industry. He has also specialized in
setup of new projects specially in Mixer Grinder, Gas Stove. They boast modern
machinery's to develop the kitchenware products featured with superior conductivity.
Determined towards quality and innovation, they always ensure that the products
are in accordance with International Standards. Empowered with highly skilled
personnel, they always play the each stroke with strategic planning. Redefining
lifestyles of millions, they owe the success to the ever expanding network of
dealers across continents which is helping them reach millions across the
world.
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 records 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.90 |
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UK Pound |
1 |
Rs.74.30 |
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Euro |
1 |
Rs.63.42 |
SCORE & RATING
EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
3 |
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PAID-UP CAPITAL |
1~10 |
3 |
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OPERATING SCALE |
1~10 |
- |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
- |
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--LIQUIDITY |
1~10 |
2 |
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--LEVERAGE |
1~10 |
2 |
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--RESERVES |
1~10 |
- |
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--CREDIT LINES |
1~10 |
- |
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--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
YES |
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--LITIGATION |
YES/NO |
NO |
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--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
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MERIT POINTS |
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--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
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--EXPORT ACTIVITIES |
YES/NO |
YES |
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--AFFILIATION |
YES/NO |
NO |
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--LISTED |
YES/NO |
NO |
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--OTHER MERIT FACTORS |
YES/NO |
YES |
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TOTAL |
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13 |
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
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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