MIRA
INFORM REPORT
|
Report Date : |
07.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
VIRAL ENTERPRISES PRIVATE LIMITED |
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Registered Office : |
11 Shanti Industrial Estate, S N Road, Mulund (West), Mumbai – 400080,
Maharashtra |
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Country : |
India |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
15.12.1995 |
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Com. Reg. No.: |
11-095358 |
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CIN No.: [Company
Identification No.] |
U28996MH1995PTC095358 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMV05755B |
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PAN No.: [Permanent
Account No.] |
AAACV3398P |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer and Importer of Non-Sticks Anodised Utensils of all
kinds. |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 10530 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
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Comments : |
Subject is a well – established and reputed company having
satisfactory track. Trade relations are fair. Business is active. Payments
are reported as usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. The company has not filed its latest financials with the Government
Registry and the management declined to part the same. |
INFORMATION PARTED
BY
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Name : |
Mr. Paresh |
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Designation : |
Accountant |
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Date : |
06.11.2008 |
LOCATIONS
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Registered Office : |
11 Shanti Industrial Estate, S N Road, Mulund (West), Mumbai – 400080,
Maharashtra, India |
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Tel. No.: |
91-22-25603250 |
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Fax No: |
91-22-67987225 |
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E-Mail : |
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Area: |
500 sq ft |
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Location: |
Owned |
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Factory : |
Plot No. A 367, Road No.25, Wagle Industrial Estate, Thane – 400607,
Maharashtra, India |
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Tel. No.: |
91-22-25834839/ 25820680 |
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Fax No.: |
91-22-55987225 |
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Area: |
1000 sq ft |
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Location: |
Owned |
DIRECTORS
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Name : |
Mr. Piyush Manilal Shah |
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Designation : |
Director |
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Address : |
A-3, Indraprasth, Jain Mandir Road, Mulund (West), Mumbai – 400080,
Maharashtra, India |
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Date of Birth/Age : |
15.11.1960 / 48 Years |
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Qualification: |
B. Com |
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Date of Appointment : |
27.09.2005 |
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Name : |
Mr. Ashok Shamji Savla |
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Designation : |
Director |
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Address : |
1/6 Pitambar Villa, Kolabad Road, Thane – 400601, Maharashtra, India |
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Date of Birth/Age : |
01.03.1960 / 48 Years |
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Date of Appointment : |
27.09.2005 |
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Name : |
Mr. Indradev Ramkumar Pande |
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Designation : |
Director |
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Address : |
Limna Bhavan, Shanti Nagar, Road No.28, Thane – 400604, Maharashtra,
India |
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Date of Birth/Age : |
02.07.1957 / 51 Years |
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Date of Appointment : |
27.09.2005 |
KEY EXECUTIVES
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Name : |
Mr. Paresh |
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Designation : |
Accountant |
MAJOR SHAREHOLDERS
/ SHAREHOLDING PATTERN
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Names of Shareholders (As on 27.09.2004) |
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No. of Shares |
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Mr. Piyush Manilal Shah |
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37010 |
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Mr. Ashok Shamji Savla |
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4500 |
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Mr. Indradev Ramdumar Pande |
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4500 |
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Mr. Viral P Shah |
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10 |
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Mr. Yatindra M Kotwal |
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10 |
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Total |
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46030 |
(As on 31.03.2007)
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Category |
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Percentage |
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Directors or relatives of directors |
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99.00 |
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Other top fifty (50) shareholders (other than listed above) |
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1.00 |
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Total |
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100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Importer of Non-Sticks Anodised Utensils of all
kinds. |
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Products : |
Aluminium Utensil |
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Imports: |
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Products: |
Colors |
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Countries: |
Indonesia |
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Terms : |
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Selling : |
L/C, Credit (30 days), D/D. |
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Purchasing : |
Cheque |
GENERAL
INFORMATION
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Customers : |
Wholesalers and Retailers |
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No. of Employees : |
26 |
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Bankers : |
Janaklayan
Sahakari Bank Limited, 140, Vivek Darshan, Sindhi Society, Chembur, Mumbai – 400071,
Maharashtra, India |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Girish Shah and Associates Chartered Accountant |
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Address : |
504, Konark Darshan, Zaver Road, Mulund (East), Mumbai – 400080,
Maharashtra, India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Share |
Rs.10/- each |
Rs.1.000 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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46030 |
Equity Share |
Rs.10/- each |
Rs.0.460 Million |
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FINANCIAL DATA
[all figures are in Rupees Millions]
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Particulars |
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31.03.2008 (Estimated) |
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Sales Turnover |
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75.000 |
Expected Sales (2008-09) : Rs.100.000 Millions
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2007 |
31.03.2006 |
31.03.2005 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.460 |
0.460 |
0.460 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1.646 |
1.124 |
0.825 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
2.106 |
1.584 |
1.285 |
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LOAN FUNDS |
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1] Secured Loans |
0.384 |
0.000 |
0.000 |
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2] Unsecured Loans |
4.106 |
4.881 |
3.629 |
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TOTAL BORROWING |
4.490 |
4.881 |
3.629 |
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DEFERRED TAX LIABILITIES |
0.030 |
0.047 |
0.059 |
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TOTAL |
6.626 |
6.512 |
4.973 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
2.301 |
1.282 |
1.295 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
11.864
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8.047 |
6.245 |
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Sundry Debtors |
5.852
|
5.164 |
0.460 |
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Cash & Bank Balances |
0.480
|
0.611 |
0.117 |
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Other Current Assets |
0.325
|
0.107 |
0.074 |
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Loans & Advances |
0.155
|
0.597 |
1.693 |
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Total
Current Assets |
18.676
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14.526 |
8.589 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
14.020
|
9.099 |
4.815 |
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Provisions |
0.331
|
0.197 |
0.096 |
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Total
Current Liabilities |
14.351
|
9.296 |
4.911 |
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Net Current Assets |
4.325
|
5.230 |
3.678 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
6.626 |
6.512 |
4.973 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
|
31.03.2007 |
31.03.2006 |
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Sales Turnover |
|
77.150 |
53.745 |
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Other Income |
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0.000 |
0.000 |
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Total Income |
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77.150 |
53.745 |
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Profit/(Loss) Before Tax |
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0.805 |
0.464 |
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Provision for Taxation |
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0.000 |
0.000 |
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Profit/(Loss) After Tax |
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0.805 |
0.464 |
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Expenditures : |
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Interests |
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0.788 |
0.696 |
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Depreciation |
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0.406 |
0.219 |
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Other Expenditure |
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75.151 |
52.366 |
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Total Expenditure |
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76.345 |
53.281 |
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KEY RATIOS
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PARTICULARS |
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31.03.2007 |
31.03.2006 |
31.03.2005 |
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PAT / Total Income |
(%) |
1.04 |
0.86 |
NA |
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Net Profit Margin (PBT/Sales) |
(%) |
1.04 |
0.86 |
NA |
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Return on Total Assets (PBT/Total Assets} |
(%) |
3.84 |
2.93 |
NA |
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Return on Investment (ROI) (PBT/Networth) |
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0.38 |
0.29 |
NA |
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Debt Equity Ratio (Total Liability/Networth) |
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8.95
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8.95 |
6.65 |
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Current Ratio (Current Asset/Current Liability) |
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1.30
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1.56 |
1.75 |
LOCAL AGENCY
FURTHER INFORMATION
Trade References:
·
Hawkins Cookers Limited
Form 8:
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Name of the company |
VIRAL ENTERPRISES PRIVATE LIMITED |
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Presented By |
Mr. Piyush
Manilal Shah |
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1) Date and description of instrument creating the change |
Inland Bill
Purchases bond dated 20.03.1999 (Bill
Discounting) |
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2) Amount secured by the charge/amount owing on the securities of charge |
Rs.0.800 Millions |
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3) Short particular of the property charged. If the property acquired is subject to charge, date of the acquired of the property should be given |
Book Debts |
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4) Gist of the terms and conditions and extent and operation of the charge. |
Interests @17.5%
p.a. Margin 20% (Due Dated
31.01.2000) |
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5) Name and Address and description of the person entitled to the charge. |
Janaklayan
Sahakari Bank Limited 140, Vivek
Darshan, Sindhi Society, Chembur, Mumbai – 400071, Maharashtra, India |
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.47.67 |
|
UK Pound |
1 |
Rs.75.47 |
|
Euro |
1 |
Rs.61.19 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
5 |
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PAID-UP CAPITAL |
1~10 |
5 |
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OPERATING SCALE |
1~10 |
5 |
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FINANCIAL CONDITION |
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--BUSINESS SCALE |
1~10 |
6 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
5 |
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--LEVERAGE |
1~10 |
5 |
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--RESERVES |
1~10 |
5 |
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--CREDIT LINES |
1~10 |
5 |
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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 |
NO |
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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 |
|
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. |
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 |
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