MIRA
INFORM REPORT
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Report Date : |
08.12.2011 |
IDENTIFICATION DETAILS
|
Name : |
ACCURA SHELVING SYSTEMS PRIVATE LIMITED |
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Registered Office : |
3/AH – 1, Cama Estate, Opposite Kusum Masala, Goregoan (East), Mumbai
– 400 063, |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of Incorporation : |
24.04.2007 |
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Com. Reg. No.: |
11-170150 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company
Identification No.] |
U36100MH2007PTC170150 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUMA30609F |
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PAN No.: [Permanent
Account No.] |
AAGCA2678D |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturer, Exporter and Importer of Shelving System of Super Market
/ Hyper Market. |
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No. of Employees
: |
275 [In Office + In Factory] Approximately |
RATING & COMMENTS
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MIRA’s Rating : |
B (28) |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
USD 2500 |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a relatively new company having moderate track. The company
has been successful in wiping off the accumulated losses of previous years.
Trade relations are reported as fair. Business is active. Payments are
reported to be slow but correct. The company can be considered for business dealings with some
cautions. Profit and Loss Account of the company is not available. |
NOTES : Any query related to this
report can be made on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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A1 |
A1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
INFORMATION PARTED BY
|
Name : |
Mr. Sharma |
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Designation : |
Accounts Manager |
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Contact No.: |
91-9820793305 |
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Date : |
06.12.2011 |
LOCATIONS
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Registered Office : |
3/AH – 1, Cama Estate, Opposite
Kusum Masala, Goregoan (East), Mumbai – 400 063, |
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Tel. No.: |
91-22-40720000/ 66952300/ 26799425 (5 Lines) |
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Mobile No.: |
91-9820793305 (Mr. Sharma) |
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Fax No.: |
91-22-26853037 |
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E-Mail : |
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Website : |
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Area : |
1000 sq ft |
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Location : |
Owned |
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Factory : |
1A- Sheetal Industrial Complex, |
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Area: |
Owned |
DIRECTORS
As on 30.09.2010
|
Name : |
Mr. Dahyalal Ganeshbhai Parmar |
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Designation : |
Director |
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Address : |
B/306, Radhakrishna Apartment, S. V. Road, Dahisar (West), Mumbai –
400 068, |
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Date of Birth/Age : |
18.11.1962 |
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Qualification : |
B.com |
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Date of appointment: |
20.04.2007 |
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DIN : |
01954515 |
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Name : |
Mrs. Niru Parmar |
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Designation : |
Director |
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Name : |
Mr. Deep Parmar |
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Designation : |
Director |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 30.09.2010
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Names of Shareholders |
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No. of Shares |
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Firoz Afsar Ali |
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5000 |
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Dahyalal Ganeshbhai Parmar |
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5000 |
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Total |
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10000 |
Equity Share Breakup (Percentage of Total Equity)
As on 30.09.2010
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Category |
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Percentage of
Holding |
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Directors or relatives of directors |
|
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer, Exporter and Importer of Shelving System of Super Market
/ Hyper Market. |
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Products: |
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Exports : |
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Products: |
Shelving Systems of Super Markets |
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Countries : |
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Imports : |
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Products: |
Raw Material |
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Countries : |
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Terms : |
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Selling : |
L/C |
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Purchasing : |
L/C |
GENERAL INFORMATION
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Suppliers: |
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Customers : |
End Users ·
Aditya Birla Retails Limited ·
Hindustan Lever Limited |
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No. of Employees : |
275 [In Office + In Factory] Approximately |
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Bankers : |
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Facilities : |
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Banking
Relations : |
Satisfactory |
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Auditors : |
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Name : |
Hingora and Company Chartered Accountant |
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Address : |
A/302-303, |
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Tel No.: |
91-22-26799425 |
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E mail: |
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PAN : |
AABPH3319J |
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Associates/Subsidiaries : |
Accura Engineers Private Limited Activity: ACE Products |
CAPITAL STRUCTURE
As on 31.03.2010
Authorised Capital :
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No. of Shares |
Type |
Value |
Amount |
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10,000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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|
10,000 |
Equity Shares |
Rs.10/- each |
Rs.0.100 Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
0.535 |
0.000 |
0.699 |
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4] (Accumulated Losses) |
0.000 |
[0.922] |
0.000 |
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NETWORTH |
0.635 |
[0.822] |
0.799 |
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LOAN FUNDS |
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1] Secured Loans |
2.225 |
0.199 |
0.000 |
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2] Unsecured Loans |
6.692 |
2.014 |
1.675 |
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TOTAL BORROWING |
8.917 |
2.213 |
1.675 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.100 |
0.100 |
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TOTAL |
9.552 |
1.491 |
2.574 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
6.906 |
4.971 |
5.185 |
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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 |
0.045 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
3.061
|
4.812 |
4.904 |
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Sundry Debtors |
21.794
|
10.840 |
13.501 |
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Cash & Bank Balances |
0.371
|
0.093 |
0.296 |
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Other Current Assets |
1.684
|
1.077 |
0.537 |
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Loans & Advances |
0.000
|
0.345 |
0.344 |
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Total
Current Assets |
26.910
|
17.167 |
19.582 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
21.903
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18.606 |
16.769 |
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Other Current Liabilities |
0.000
|
0.000 |
0.042 |
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Provisions |
2.420
|
2.059 |
5.406 |
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Total
Current Liabilities |
24.323
|
20.665 |
22.217 |
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Net Current Assets |
2.587
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[3.498] |
[2.635] |
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MISCELLANEOUS EXPENSES |
0.014 |
0.018 |
0.024 |
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TOTAL |
9.552 |
1.491 |
2.574 |
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Particulars |
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|
31.03.2010 |
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Sales Turnover (Approximately) |
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75.000 |
Expected Sales (2011-2012) : Rs.120.000 millions
The above information has been parted by Mr. Sharma [Accounts Manager]
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
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Debt Equity Ratio (Total Liability/Networth) |
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52.35
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[27.83] |
29.90 |
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Current Ratio (Current Asset/Current Liability) |
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1.11
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0.83 |
0.88 |
LOCAL AGENCY FURTHER INFORMATION
|
Available
in Report [Yes/No] |
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Year
of Establishment |
Yes |
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Locality
of the Firm |
Yes |
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Construction
of the firm |
Yes |
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Premises
details |
Yes |
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Type
of Business |
Yes |
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Line
of Business |
Yes |
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Promoters
background |
- |
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No.
of Employees |
Yes |
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Name
of Person Contacted |
Yes |
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Designation
of contact person |
Yes |
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Turnover
of firm for last two years |
Yes |
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Profitability
for last three years |
No |
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Reasons
for variation <> 20% |
- |
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Estimation
for coming financial year |
Yes |
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Capital
the business |
Yes |
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Details
of sister concerns |
- |
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Major
Suppliers |
Yes |
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Major
Customers |
Yes |
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Payment
Terms |
Yes |
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Export
/ Import Details [If Applicable] |
Yes |
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Market
Information |
- |
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Litigations
that the firm / promoter involved in |
- |
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Banking
Details |
Yes |
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Banking
Facility Details |
No |
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Conduct
of the banking account |
- |
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Buyer
visit details |
- |
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Financials,
if provided |
No |
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Incorporation
details, if applicable |
- |
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Last
accounts filed at ROC |
- |
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Major
Shareholders, if applicable |
- |
TRADE REFERENCES :
- Aditya Birla
Retails Limited
- Hindustan
Lever Limited
Fixed Assets:
·
Air Conditioner
·
Computer
·
Dies and Tools
·
Electrical Fittings
·
Furniture and Fittings
·
Machinery
·
·
Printer
·
Car
·
Van
·
Software
Website Details
Subject is a company dedicated to manufacturing
state-of-the-art Organised Retail Display Systems. They manufacture Shelves, Racks, Shopping Trolleys, Shopping Basket,
Point of Sale Displays and much more for a host of applications in
Supermarkets, Grocery stores, Pharmacies, Food Counters, Book and Music Shops,
Garment Stores, Appliance Showrooms, Automobile Spares, Franchisee Chains,
Corporate Exhibits, Mobile Displays, etc.
Changing Scenario
Thanks
to the emergence of customer as king,
CMT REPORT (Corruption, Money Laundering & Terrorism]
The Public Notice information has been collected from various sources
including but not limited to: The Courts,
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. 51.44 |
|
|
1 |
Rs. 80.37 |
|
Euro |
1 |
Rs. 69.12 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
2 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
|
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|
--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
4 |
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--LIQUIDITY |
1~10 |
3 |
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--LEVERAGE |
1~10 |
3 |
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--RESERVES |
1~10 |
3 |
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--CREDIT LINES |
1~10 |
3 |
|
--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 |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
YES |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
28 |
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 |
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 |
|
- |
NB |
New Business |
- |
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.