MIRA
INFORM REPORT
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Report Date : |
24.10.2008 |
IDENTIFICATION DETAILS
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Name : |
PETSMART PET PRODUCTS PRIVATE LIMITED |
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Registered Office : |
Suite 203, 2nd Floor, Hill View 2, Hill Road, Opp. Mehboob Studios,
Bandra (West), Mumbai – 400 050, Maharashrra |
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Country : |
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Financials (as on) : |
31.03.2007 |
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Date of Incorporation : |
19.09.2006 |
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Com. Reg. No.: |
11-164717 |
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CIN No.: [Company
Identification No.] |
U15339MH2006PTC164717 |
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IEC No.: |
APPLIEDFOR |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMP22645A |
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Legal Form : |
Private Limited Liability Concern |
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Line of Business : |
Importer of Propac and Sportmiy Pet Food, 8 in 1 Pet Accessiories,
Greenies Pet Treats |
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 700 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is doing steady business. Trade relations are fair. No payment
recods are available. Bankers reported are not known. However the company can be considered normal for business dealings at
usual trade terms and conditions. |
INFORMATION PARTED BY
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Name : |
Mr. Vijay Patel |
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Designation : |
Accountant |
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Contact No.: |
91-9820051130 |
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Date : |
22.10.2008 |
LOCATIONS
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Registered Office : |
Suite 203, 2nd Floor, Hill View 2, Hill Road, Opp. Mehboob Studios,
Bandra (West), Mumbai – 400 050, Maharashrra, India |
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Tel. No.: |
91-22-32631852 |
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Mobile No.: |
91-9820051130 |
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Fax No.: |
91-22-26514845 |
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E-Mail : |
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Website : |
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Area : |
1000 Sq. ft. |
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Location : |
Rented |
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Corporate Office : |
Shop No.4-5, Gold Mist Apartments, Vakola Pipeline Road, Santacruz (East),
Mumbai:400055, Maharashtra |
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Tel. No.: |
91-22-32534617 / 32631852 |
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Mobile No.: |
91-9820051130 |
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Fax No.: |
91-22-26692007 |
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E-Mail : |
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Area : |
900 Sq. ft |
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Location : |
Rented |
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Branches : |
Plot No 39, Sector 6, Sanpada,
Navi Mumbai-400705 |
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Tel. No.: |
91-22-32614990 |
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Area : |
5000 Sq. ft |
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Location : |
Rented |
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Warehouse : |
Plot No. 129, Korn Savala Road, Village Arivali, Panvel, Mumbai,
Maharashtra, India |
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Mobile No.: |
91-9224780994 |
DIRECTORS
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Name : |
Mr. Bijoy Biharilal Lulla |
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Designation : |
Director |
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Address : |
6 Jalkiran, Cuffe Parade, Mumbai – 400005, Maharashtra, India |
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Date of Birth/Age : |
19.05.1965 |
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Qualification : |
MBA |
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Date of Appointment
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19.09.2006 |
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Name : |
Ms. Payal Ram Bhatia |
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Designation : |
Director |
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Address : |
B-5/19, Mahesh Nagar, S. V. Road, Goregaon (West), Mumbai – 400062,
Maharashtra, India |
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Date of Birth/Age : |
13.12.1978 |
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Qualification : |
MBA |
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Date of Appointment
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19.09.2006 |
MAJOR SHAREHOLDERS
(As on 06.07.2007)
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Names of Shareholders |
No. of Shares |
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Bijou Biharilal Lulla |
9000 |
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Payal Ram Bhatia |
1000 |
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Total |
10000 |
Equity shares Breakup (percentage of total equity)
(As on 18.03.2008)
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Category |
Percentage |
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Directors or Relative of director |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Importer of Propac and Sportmix Pet Food, 8 in 1 Pet Accessories,
Greenies Pet Treats |
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Products : |
Trading in Pet Products |
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Agencies Held : |
·
Mid-western Pet Foods ·
United Pet Group Inc. ·
S and M Nutec Inc. |
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Imports : |
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Products : |
·
Pet Foods ·
Products and Accessories |
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Countries : |
·
USA ·
Brazil |
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Terms : |
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Selling : |
Cash and Credit (30 days / 60 days / 90 days) |
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Purchasing : |
Credit (30 days) |
GENERAL INFORMATION
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Customers : |
·
Wholesalers ·
Retailer ·
Distributor |
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No. of Employees : |
10 |
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Bankers : |
ICICI Bank Krystal Building , Plot No.206-22, Waterfied Road, Mumbai 400050 |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
·
R. S. Khandelwal and company Chartered Accountant Address
:
404, Prospect Chambers, 3A D. N. Road, Fort Mumbai 400005, Maharashtra, India Tel. No.: 91-22-22828154 Fax No.: 91-22-2843202 ·
Falod and Khandelwal Chartered Accountants Address
:
407, Prospect Chambers, 317, D N Road, Fort, Mumbai – 400 001, Maharashtra,
India |
CAPITAL STRUCTURE
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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100000 |
Equity Shares |
Rs.10/- each |
Rs.1.000 Million |
Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 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 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
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2] Share Application Money |
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0.000 |
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3] Reserves & Surplus |
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0.042 |
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4] (Accumulated Losses) |
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0.000 |
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NETWORTH |
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0.142 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
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2] Unsecured Loans |
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0.834 |
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TOTAL BORROWING |
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0.834 |
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DEFERRED TAX LIABILITIES |
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0.000 |
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TOTAL |
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0.976 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.000 |
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Capital work-in-progress |
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0.000 |
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INVESTMENT |
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0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.000 |
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Sundry Debtors |
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0.250 |
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Cash & Bank Balances |
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0.848 |
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Other Current Assets |
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0.000 |
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Loans & Advances |
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0.212 |
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Total
Current Assets |
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1.310 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Current Liabilities |
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0.300 |
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Provisions |
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0.060 |
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Total
Current Liabilities |
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0.360 |
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Net Current Assets |
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0.950 |
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MISCELLANEOUS EXPENSES |
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0.026 |
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TOTAL |
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0.976 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2007 |
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Sales Turnover |
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2.011 |
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Other Income |
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0.000 |
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Total Income |
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2.011 |
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Profit/(Loss) Before Tax |
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0.102 |
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Provision for Taxation |
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0.060 |
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Profit/(Loss) After Tax |
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0.042 |
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Total Expenditure |
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1.909 |
KEY RATIOS
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PARTICULARS |
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31.03.2007 |
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PAT / Total Income |
(%) |
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2.09 |
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Net Profit Margin (PBT/Sales) |
(%) |
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5.07 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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7.79 |
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Return on Investment (ROI) (PBT/Networth) |
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0.72 |
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Debt Equity Ratio (Total Liability/Networth) |
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8.41 |
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Current Ratio (Current Asset/Current Liability) |
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3.64 |
LOCAL AGENCY FURTHER INFORMATION
Note
The Registered Office of the company has been shifted from Shop No.4-5,
Gold Mist Apartments, Vakola Pipeline Road, Santacruz (East), Mumbai:400055,
Maharashtra, India to the present address w.e.f. 06.08.2008.
Trade Reference:
·
Amsit – 28756470, Goregaon
·
Paper Product Limited, Sanjay Sharma – 9870309368,
Vapi
·
Midwestern Pet
Food Inc.
Mr. R.S. Khandawal 404 Prospect
chambers,317, D.N.Road, Fort, M-1.Tel-91-22-22828154
Mr. Naresh Taneja Weg, R-51, Basement,
Inderpuri, New Delhi, 110012, N.No.09810018472
Mr. Dinesh Sangle Padmavati ENT, Shop No 6,
Vakola Pipeline Road, Vakola, Santacruz (East)
Operations
The Company has commenced trading in
pet products during the year. The Company during the period has achieved a
turnover of Rs.2.011 millions and earned profit for the year Rs.0.042 million.
The future of the Company is promising.
Business
To carry on the business of manufacturing,
distribution, marketing, trading, sale, export and import of animal and pet
foods, including extruded dry and wet dog foods, cat foods, horse feed
including its raw materials, premiers, additives, vitamins and minerals
supplements.
To carry on the business of distributions,
marketing, trading, sale, export and import of animal and pet accessories and
books on animal care.
To carry on the business of pet training,
boarding and grooming.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.79 |
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UK Pound |
1 |
Rs.81.27 |
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Euro |
1 |
Rs.63.91 |
SCORE & RATING EXPLANATIONS
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SCORE FACTORS |
RANGE |
POINTS |
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HISTORY |
1~10 |
4 |
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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 |
5 |
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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 |
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43 |
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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