MIRA
INFORM REPORT
|
Report Date : |
15.10.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SHREE DATTA TRUNK AND UMBRELLA MART |
|
|
|
|
Registered Office : |
1099, Budhwar Peth, Next to Datta Mandir, Pune – 411 002, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as on) : |
31.03.2008 |
|
|
|
|
Year of Establishment : |
1965 |
|
|
|
|
IEC No.: |
3101002613 |
|
|
|
|
PAN No.: [Permanent
Account No.] |
ADXPS3365E |
|
|
|
|
Legal Form : |
Sole Proprietory Concern |
|
|
|
|
Line of Business : |
Manufacturer and Exporter of Monsoon, Beach, Golf, Advertisement,
Promotional, Garden, etc. types of Umbrellas. |
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 7500 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is a well-established concern having satisfactory track
records. Trade relations are fair. Payments are usually correct and as per
commitment. The concern can be considered
normal for business at usual trade terms and conditions. |
INFORMATION PARTED
BY
|
Name : |
Mr. Sunil Shroff |
|
Designation : |
Son of Proprietor |
|
Contact No.: |
Mobile no. 91-9372949460 |
|
Date : |
08.10.2008 |
LOCATIONS
|
Registered Office : |
1099, Budhwar Peth, Next to Datta Mandir, Pune – 411 002, Maharashtra,
India. |
|
Tel. No.: |
91-20-24456944 |
|
Mobile No.: |
91-9372949460 |
|
Fax No.: |
91-20-24453997 |
|
E-Mail : |
|
|
Website : |
|
|
Area : |
3000 sq ft |
|
Location : |
Owned |
|
|
|
|
Factory : |
34/ 9, Erandwana, Pune- 411 004, Maharashtra, India. |
|
Area : |
11000 sq ft |
|
Location : |
Owned |
SOLE PROPRIETOR
|
Name : |
Mr. V.V. Shroff |
|
Designation : |
Proprietor |
|
Date of Birth/Age : |
75 Years |
|
Qualification : |
B.Com |
|
Experience : |
50 Years |
BUSINESS DETAILS
|
Line of Business : |
Manufacturer and Exporter of Monsoon, Beach, Golf, Advertisement,
Promotional, Garden, etc. types of Umbrellas. |
|
|
|
|
Products : |
|
|
|
|
|
Exports : |
|
|
Products : |
Umbrellas |
|
Countries : |
SAARC, Middle East, Africa |
|
|
|
|
Imports : |
|
|
Products : |
Raw Materials |
|
Countries : |
China |
|
|
|
|
Terms : |
|
|
Selling : |
Cheque |
|
|
|
|
Purchasing : |
Cheque |
GENERAL
INFORMATION
|
Customers : |
Corporate |
|
|
|
|
No. of Employees : |
18 (In office-6, In factory-12) |
|
|
|
|
Bankers : |
Bank of India, Pune City |
|
|
|
|
Facilities : |
CC – Rs.0.100 Million |
|
|
|
|
Banking
Relations : |
Satisfactory |
|
|
|
|
Auditors : |
|
|
Name : |
M/s A.M. Kankarya and Company Chartered Accountants |
|
Address : |
Pune |
|
|
|
|
Associates/Subsidiaries : |
Anchor Awnings Address: 249, Budhwar Peth, Pune – 411 002, Maharashtra, India. Line of Business: Manufacturer and Exporter of Awnings and
Accessories. |
CAPITAL STRUCTURE
|
Capital Investment : |
|
|
Owned : |
Rs.1.500 Millions (Estimated) |
|
Borrowed : |
-- |
|
Total : |
Rs.1.500 Millions (Estimated) |
FINANCIAL DATA
[all figures are in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2008 |
31.03.2007 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
10.330 |
8.779 |
|
|
2] Share Application Money |
|
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
0.000 |
0.000 |
|
|
NETWORTH |
|
10.330 |
8.779 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
3.634 |
3.175 |
|
|
TOTAL BORROWING |
|
3.634 |
3.175 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
13.964 |
11.954 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
|
0.958 |
0.903 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
1.856 |
2.160 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
2.683 |
3.051 |
|
|
Sundry Debtors |
|
2.479 |
3.073 |
|
|
Cash & Bank Balances |
|
6.812 |
4.104 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
0.565 |
0.655 |
|
Total
Current Assets |
|
12.539 |
10.883 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Current Liabilities |
|
0.504 |
1.137 |
|
|
Provisions |
|
0.885 |
0.855 |
|
Total
Current Liabilities |
|
1.389 |
1.992 |
|
|
Net Current Assets |
|
11.150 |
8.891 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
13.964 |
11.954 |
|
PROFIT & LOSS
ACCOUNT
|
PARTICULARS |
|
31.03.2008 |
31.03.2007 |
|
|
|
|
|
|
|
|
Sales Turnover |
|
20.780 |
23.420 |
|
|
Other Income |
|
0.048 |
0.084 |
|
|
Total Income |
|
20.828 |
23.504 |
|
|
|
|
|
|
|
|
Profit/(Loss) Before Tax |
|
2.129 |
2.435 |
|
|
Provision for Taxation |
|
0.000 |
0.000 |
|
|
Profit/(Loss) After Tax |
|
2.129 |
2.435 |
|
|
|
|
|
|
|
|
Expenditures : |
|
|
|
|
|
|
Cost of Goods Sold |
|
13.885 |
19.426 |
|
|
Salaries, Wages, Bonus, etc. |
|
0.570 |
0.579 |
|
|
Interest |
|
0.329 |
0.387 |
|
|
Insurance Expenses |
|
0.010 |
0.010 |
|
|
Other Expenditure |
|
3.905 |
0.667 |
|
Total Expenditure |
|
18.699 |
21.069 |
|
Expected Sales (2008-09) : Rs.26.000 Millions
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2008 |
31.03.2007 |
|
PAT / Total Income |
(%) |
|
10.22 |
10.35 |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
10.24 |
10.39 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
13.86 |
17.46 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
20.60 |
27.73 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
48.62 |
58.85 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
9.02 |
5.46 |
LOCAL AGENCY
FURTHER INFORMATION
|
Additional
Requirement of Indiamart for Trust-Seal |
|
|
|
|
|
VAT / TIN :27610316948 |
|
|
IEC Code : 3101002613 |
|
|
|
|
|
PAN / TAN : ADXPS3365E |
|
|
|
|
|
Bank Name :Bank
of India |
|
|
Bank Address :Pune
City |
|
|
Bank A/c. No.:050630100000042 |
|
|
Account Since :1967 |
|
TRADE REFERENCES:
- Bharti Airtel
- Hindustan Coca Cola
- Motorola
- Pepsi
WEBSITE DETAILS:
PROFILE
Subject is one of the pioneers in the field of manufacturing umbrellas and tents like promotional umbrellas, promotional advertising umbrellas, outdoor sun umbrella, outdoor beach umbrella etc. Today, they have earned the faith and trust of their valued customers and their brand "Anchor Umbrella" is a household name across the country. And it has almost been a century, since they ventured into the field of umbrella making in the year 1910. Set up by their forefathers, with the mission to manufacture best quality products at the most competitive rates, they still follow the generations old tradition.
Today, they have a state of the art manufacturing unit located at Pune,
Maharashtra. Besides this, they also have a team of qualified professional and
skilled workforce, who have a commitment towards quality and consistency.
Significantly, Subject has
become an extended family as the fathers and forefathers of many of their
present staff, have in fact, nurtured the company during its hey days.
Today, they are in a position to claim that the company has been able to
achieve the mission of its founders as it is counted among the leading
suppliers of umbrellas. Since, quality has always been their prime focus, they
continuously strive to improve their products with the aid of advanced
technology.
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.47.71 |
|
UK Pound |
1 |
Rs.83.30 |
|
Euro |
1 |
Rs.65.12 |
SCORE & RATING
EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
6 |
|
OPERATING SCALE |
1~10 |
6 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
6 |
|
--PROFITABILIRY |
1~10 |
6 |
|
--LIQUIDITY |
1~10 |
6 |
|
--LEVERAGE |
1~10 |
6 |
|
--RESERVES |
1~10 |
6 |
|
--CREDIT LINES |
1~10 |
6 |
|
--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 |
|
54 |
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 |
|