MIRA
INFORM REPORT
|
Report Date : |
28.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
TAJIR PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Adie Mansion 334, Maulana Shaukat Ali Road, Mumbai – 400007,
Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2010 |
|
|
|
|
Date of
Incorporation : |
20.06.1950 |
|
|
|
|
Com. Reg. No.: |
11-008129 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.7.926 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51109MH1950PTC008129 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMTO9552E |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACT1959Q |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Distributor and Importer of Food Items. |
|
|
|
|
No. of Employees
: |
15 (In Office) (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba (46) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 90000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Usually Correct |
|
|
|
|
Litigation : |
Clear |
|
|
|
|
Comments : |
Subject is an established company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct and as per commitments. The company can be considered normal for business dealings at usual
trade terms and conditions. |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
INFORMATION PARTED BY
|
Name : |
Mr. Asif |
|
Designation : |
Accounts Department |
|
Contact No.: |
91-22-23010446 |
|
Date : |
26.07.2011 |
LOCATIONS
|
Registered Office : |
Adie Mansion 334, Maulana Shaukat Ali Road, Mumbai – 400007, Maharashtra,
India |
|
Tel. No.: |
91-22-23010446 |
|
Fax No.: |
91-22-23078761 |
|
E-Mail : |
|
|
Website : |
|
|
Location : |
Owned |
DIRECTORS
AS ON : 30.09.2010
|
Name : |
Mr. Aliasger Yusuf |
|
Designation : |
Whole Time Director |
|
Address : |
Adie Mansion 334, Maulana Shaukat Ali Road, Mumbai – 400007,
Maharashtra, India |
|
Date of Birth/Age : |
16.12.1974 |
|
Date of Appointment : |
02.03.1993 |
|
|
|
|
Name : |
Mr. Mufaddal Yusuf |
|
Designation : |
Whole Time Director |
|
Address : |
Adie Mansion 334, Maulana Shaukat Ali Road, Mumbai – 400007,
Maharashtra, India |
|
Date of Birth/Age : |
26.10.1976 |
|
Date of Appointment : |
26.12.1994 |
|
|
|
|
Name : |
Mr. Yusuf Gulamally |
|
Designation : |
Chairman cum Managing Director |
|
Address : |
184, Mehr DRD Cuffe Parade, Mumbai, Colaba, Maharashtra, India |
|
Date of Birth/Age : |
07.03.1940 |
|
Date of Appointment : |
10.12.1963 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON : 30.09.2010
|
Names of Shareholders |
|
No. of Shares |
|
Ali Asgar Yusuf |
|
124808 |
|
Dilshad Yusuf |
|
147314 |
|
Mufaddal Kagalwala |
|
28 |
|
Mufaddal Tusuf |
|
132160 |
|
R.S. Abidali |
|
3076 |
|
Yasmin billmoria |
|
5 |
|
Yusuf Gulamally |
|
50000 |
|
Yusuf Gullamally |
|
244232 |
|
Yusuf Gullamally |
|
50000 |
|
Ali asgar Yusuf |
|
19600 |
|
Mufaddal Yusuf |
|
21385 |
|
|
|
|
|
Total |
|
792608 |
AS ON : 30.09.2010
|
Category |
Percentage |
|
|
|
|
Directors or relatives of Directors |
100.00 |
|
|
|
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Distributor and Importer of Food Items. |
|
|
|
|
Imports : |
|
|
Products : |
Food Items |
|
Countries : |
All Over World |
|
|
|
|
Terms : |
|
|
Selling : |
L/C, Cash, Credit |
|
|
|
|
Purchasing : |
L/C, Cash, Credit |
GENERAL INFORMATION
|
Customers : |
·
Wholesalers ·
Retailers |
|||||||||||||||
|
|
|
|||||||||||||||
|
No. of Employees : |
15 (In Office) (Approximately) |
|||||||||||||||
|
|
|
|||||||||||||||
|
Bankers : |
HDFC Bank, Grant Road Mumbai , India |
|||||||||||||||
|
|
|
|||||||||||||||
|
Facilities : |
|
|
|
|
|
Banking
Relations : |
---- |
|
|
|
|
Auditors : |
|
|
Name : |
Lakhani and Company Chartered Accountant |
|
Address : |
Hemsharsaka 19, Gola Lane, Behind Badri Mahal, Mumbai – 400001,
Maharashtra, India |
|
|
|
|
Associates/Subsidiaries : |
Champioun T Mark |
CAPITAL STRUCTURE
AS ON 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
1250000 |
Equity Shares |
Rs.10/- each |
Rs.12.500 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
792608 |
Equity Shares |
Rs.10/- each |
Rs.7.926
Millions |
|
|
|
|
|
Note : Out of the above 370814 Equity shares of Rs. 10/- each are issued
as Bonus Shares)
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
7.926 |
7.416 |
3.708 |
|
|
2] Share Application Money |
0.000 |
0.000 |
0.000 |
|
|
3] Reserves & Surplus |
14.629 |
2.643 |
4.524 |
|
|
4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
|
|
NETWORTH |
22.555 |
10.059 |
8.232 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
3.400 |
4.110 |
7.375 |
|
|
TOTAL BORROWING |
3.400 |
4.110 |
7.375 |
|
|
DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.169 |
|
|
|
|
|
|
|
|
TOTAL |
25.955 |
14.169 |
15.776 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
12.813 |
6.498 |
6.834 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
5.156
|
8.009 |
3.783 |
|
|
Sundry Debtors |
5.021
|
5.031 |
8.685 |
|
|
Cash & Bank Balances |
9.548
|
2.818 |
0.884 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
2.076
|
2.512 |
5.164 |
|
Total
Current Assets |
21.801
|
18.370 |
18.516 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
6.291 |
7.083 |
6.035 |
|
|
Other Current Liabilities |
2.132
|
3.701 |
2.706 |
|
|
Provisions |
0.403
|
0.004 |
0.833 |
|
Total
Current Liabilities |
8.826
|
10.788 |
9.574 |
|
|
Net Current Assets |
12.975
|
7.582 |
8.942 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.167 |
0.087 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
25.955 |
14.169 |
15.776 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
|
|
|
|
|
|
|
|
|
SALES AND OTHER
INCOME |
65.804 |
57.148 |
60.488 |
|
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
59.540 |
53.105 |
54.128 |
|
|
|
Advertising Expenses |
|
|
|
|
|
|
interest |
|
|
|
|
|
|
TOTAL |
59.540 |
53.105 |
54.128 |
|
|
|
|
|
|
|
|
|
PROFIT
BEFORE TAX, DEPRECIATION AND AMORTISATION |
6.264 |
4.043 |
6.360 |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION |
0.821 |
0.947 |
0.944 |
|
|
|
|
|
|
|
|
|
|
PROFIT BEFORE
TAX |
5.443 |
3.096 |
5.416 |
|
|
|
|
|
|
|
|
|
Less |
TAX |
1.768 |
1.269 |
1.894 |
|
|
|
|
|
|
|
|
|
|
PROFIT AFTER TAX
|
3.675 |
1.827 |
3.522 |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
2.493 |
4.374 |
0.853 |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
6.168 |
6.201 |
4.375 |
|
|
|
|
|
|
|
|
|
|
EARNINGS IN
FOREIGN CURRENCY |
|
|
|
|
|
|
|
Export Earnings |
30.332 |
26.510 |
24.183 |
|
|
TOTAL EARNINGS |
30.332 |
26.510 |
24.183 |
|
|
|
|
|
|
|
|
|
|
IMPORTS |
|
|
|
|
|
|
|
Others |
11.473 |
10.045 |
9.116 |
|
|
TOTAL IMPORTS |
11.473 |
10.045 |
9.116 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
4.87 |
4.55 |
9.50 |
|
|
Particulars |
|
|
31.03.2011 |
|
Sales Turnover (Approximately) |
|
|
60.000 |
|
|
|
|
|
Expected Sales ( 2011-2012 ) : Rs.70.000 millions
The above information has been parted by Mr. Asif.
KEY RATIOS
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
PAT / Total Income |
(%) |
5.58
|
5.41 |
8.95 |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
15.93
|
12.44 |
21.36 |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
0.24
|
0.29 |
0.65 |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
0.54
|
1.48 |
2.05 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
2.47
|
1.70 |
1.93 |
LOCAL AGENCY FURTHER INFORMATION
SUNDRY CREDITORS
DETAILS :
(Rs.
In Millions )
|
Particulars |
31.03.2010 |
31.03.2009 |
31.03.2008 |
|
Sundry Creditors For Goods |
5.568 |
6.632 |
5.074 |
|
Sundry Creditors For Expenses |
0.723 |
0.451 |
0.961 |
|
|
|
|
|
|
Total |
6.291 |
7.083 |
6.035 |
OPERATIONS AND
FUTURE PROSPECTS :
The Company has reported total turnover including other income of
Rs.65.804 millions as compared to the last year’s turnover of Rs.57.148
millions, which is increase of 15.15 % over the last year’s turnover. The
Company has earned a net Profit of Rs.3.675 millions as compare to the last
year’s net profit of Rs.1.827 millions after providing for depreciation, taxes
and for deferred taxes.
FIXED ASSETS :
·
Air Conditioners
·
Computers
·
Electrical Installation
·
Furniture and Fixtures
·
Property
·
Leasehold improvements
·
Office equipments
·
Motor Car
TRADE REFERENCES :
·
Cadboury
·
Kalox
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. 44.28 |
|
|
1 |
Rs. 72.36 |
|
Euro |
1 |
Rs. 64.16 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
6 |
|
PAID-UP CAPITAL |
1~10 |
5 |
|
OPERATING SCALE |
1~10 |
5 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
5 |
|
--PROFITABILIRY |
1~10 |
5 |
|
--LIQUIDITY |
1~10 |
5 |
|
--LEVERAGE |
1~10 |
5 |
|
--RESERVES |
1~10 |
5 |
|
--CREDIT LINES |
1~10 |
5 |
|
--MARGINS |
-5~5 |
-- |
|
DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
NO |
|
--LITIGATION |
YES/NO |
NO |
|
--OTHER ADVERSE INFORMATION |
YES/NO |
NO |
|
MERIT POINTS |
|
|
|
--SOLE DISTRIBUTORSHIP |
YES/NO |
NO |
|
--EXPORT ACTIVITIES |
YES/NO |
NO |
|
--AFFILIATION |
YES/NO |
YES |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
46 |
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.