MIRA
INFORM REPORT
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Report Date : |
04.06.2011 |
Note:
The Given address could not be confirmed.
IDENTIFICATION DETAILS
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Name : |
D J APPLIANCES PRIVATE LIMITED |
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Registered
Office : |
508, 5 Floor, Building No 20, Samartha Vaibhav, Shree Swami, Samarth
Nagar, New Link Road, Oshiwara, Andheri (W), Mumbai – 400053, Maharashtra |
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Country : |
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Financials (as
on) : |
31.03.2010 |
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Date of
Incorporation : |
03.06.2008 |
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Com. Reg. No.: |
11-183082 |
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Paid-up Capital
: |
Rs. 0.100 Million |
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CIN No.: [Company Identification
No.] |
U74900MH2008PTC183082 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMD17032B |
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PAN No.: [Permanent Account No.] |
AADCD0627Q |
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Legal Form : |
Private Limited Liability Company |
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Line of Business
: |
Manufacturer and Traders of Electronic Durable Goods Like T.V., VCR/VCD,
Refrigerator, Washing Machine, Microwave oven, and Gases |
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No. of Employees
: |
Information not divulged by management |
RATING & COMMENTS
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MIRA’s Rating : |
Ba (42) |
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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 14000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
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Comments : |
Subject is a three years old company having satisfactory track. Trade
relations are reported as fair. Business is active. Payments are reported to
be usually correct. The company can be considered normal for business dealings at usual
trade terms and conditions. Profit and Loss Account for the year 2009-10 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.
INFORMATION DENIED BY
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Name : |
Mr. Shivkumar |
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Designation : |
Accountant |
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Date : |
03.06.2011 |
LOCATIONS
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Registered Office : |
508, 5 Floor, Building No 20, Samartha Vaibhav, Shree Swami, Samarth
Nagar, New Link Road, Oshiwara, Andheri (W), Mumbai – 400053, Maharashtra,
India |
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E-Mail : |
DIRECTORS
As On 30.09.2010
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Name : |
Mrs. Jagruti Jayraj Pandit |
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Designation : |
Director |
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Address : |
Building No. 13, Flat no. 199, |
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Date of Birth/Age : |
16.08.1970 |
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Date of Appointment : |
03.06.2008 |
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DIN No.: |
00402674 |
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Name : |
Mr. Jayraj Dilipkumar Pandit |
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Designation : |
director |
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Address : |
603, 6th Floor, Building No.16, Phase-I, Indradarshan, Lokh
Complex, Andheri (W), Mumbai – 400053, |
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Date of Birth/Age : |
25.04.1965 |
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Date of Appointment : |
03.06.2008 |
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DIN No.: |
02132430 |
KEY EXECUTIVES
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Name : |
Mr. Shivkumar |
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Designation : |
Accountant |
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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Jayraj Dilipkumar Pandit |
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5000 |
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Jagruti Jayraj Pandit |
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5000 |
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Total |
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10000 |
As On 30.09.2010
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Category |
Percentage |
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Directors or relatives of Directors |
100.00 |
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Total |
100.00 |
BUSINESS DETAILS
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Line of Business : |
Manufacturer and Traders of Electronic Durable Goods Like T.V.,
VCR/VCD, Refrigerator, Washing Machine, Microwave oven, and Gases |
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GENERAL INFORMATION
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No. of Employees : |
Information not divulged by management |
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Bankers : |
Not Available |
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Facilities : |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
H P Patel and Associates Chartered Accountant |
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Address : |
4, Padma Society, 164, |
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Tel. No.: |
91-22-23754250/26713584 |
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Fax No.: |
91-22-23747542 |
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Pan No.: |
ABTPP4523F |
CAPITAL STRUCTURE
As On 31.03.2010
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 |
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Issued, Subscribed & Paid-up 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 |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
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31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
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0.100 |
0.100 |
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2] Share Application Money |
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0.000 |
0.000 |
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3] Reserves & Surplus |
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3.412 |
0.000 |
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4] (Accumulated Losses) |
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0.000 |
(0.061) |
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NETWORTH |
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3.512 |
0.039 |
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LOAN FUNDS |
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1] Secured Loans |
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0.000 |
0.000 |
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2] Unsecured Loans |
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0.000 |
0.615 |
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TOTAL BORROWING |
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0.000 |
0.615 |
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DEFERRED TAX LIABILITIES |
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0.000 |
0.000 |
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TOTAL |
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3.512 |
0.654 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
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0.386 |
0.000 |
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Capital work-in-progress |
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0.000 |
0.000 |
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INVESTMENT |
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29.614 |
0.000 |
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DEFERREX TAX ASSETS |
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0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
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0.103 |
0.000 |
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Sundry Debtors |
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0.062 |
0.000 |
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Cash & Bank Balances |
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8.758 |
0.632 |
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Other Current Assets |
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0.000 |
0.000 |
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Loans & Advances |
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3.295 |
0.033 |
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Total
Current Assets |
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12.218 |
0.665 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
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24.348 |
0.000 |
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Other Current Liabilities |
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12.407 |
0.000 |
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Provisions |
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1.951 |
0.011 |
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Total
Current Liabilities |
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38.706 |
0.011 |
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Net Current Assets |
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(26.488) |
0.654 |
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MISCELLANEOUS EXPENSES |
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0.000 |
0.000 |
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TOTAL |
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3.512 |
0.654 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
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31.03.2009 |
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SALES |
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Income |
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0.000 |
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Other Income |
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0.000 |
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TOTAL |
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0.000 |
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Less |
EXPENSES |
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Administrative and Operating Expenses |
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0.061 |
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TOTAL |
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0.061 |
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PROFIT BEFORE
TAX |
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(0.061) |
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Less |
TAX |
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0.000 |
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PROFIT AFTER TAX
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(0.061) |
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BALANCE CARRIED
TO THE B/S |
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(0.061) |
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Earnings Per
Share (Rs.) |
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(6.10) |
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KEY RATIOS
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PARTICULARS |
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31.03.2010 |
31.03.2009 |
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PAT / Total Income |
(%) |
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NA |
0.00 |
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Net Profit Margin (PBT/Sales) |
(%) |
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NA |
0.00 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
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NA |
(9.17) |
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Return on Investment (ROI) (PBT/Networth) |
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NA |
(1.56) |
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Debt Equity Ratio (Total Liability/Networth) |
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11.02 |
16.05 |
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Current Ratio (Current Asset/Current Liability) |
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0.32 |
60.45 |
LOCAL AGENCY FURTHER INFORMATION
THE DETAILS OF
SUNDRY CREDITORS:
Rs.
In Millions
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Particulars |
31.03.2010 |
31.03.2009 |
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Sundry Creditors – Goods |
23.957 |
0.000 |
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Sundry Creditors – Expenses |
0.391 |
0.000 |
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Total |
24.348 |
0.000 |
NOTE:
The Registered Office of the company has been shifted from 603, 6th
Floor, Building NO 16, Phase – 1, Indradarshan, Lokhandwala Complex, Andheri (W),
Mumbai – 400053,
OPERATIONS:
The company’s operations during the year were above plan. However, the
entire order books could not be executed due to the non-receipt of the goods
from the principals. The order book position for the current financial year is
also good and the company can achieve higher turnover.
PERFORMANCE OF THE
COMPANY:
The markets has started growing and hitting the recession crisis and we
could see it in the Home Appliance Industry as well. The Star Rating (BEE
labeling law) being implemented by the Government of India the company got a
hit on its Turnover. They were unable to sell refrigerators for the last
quarter of the year which usually contributes 15% - 20% of the turnover.
Dividend has not been recommended for better financials of the company.
SECTOR OUTLOOK:
The brand equity continued to play an important role in the sales of the
company’s products. The company has carried out feasible studies for opening up
of move show rooms in North and West. However, the studies show that it would
be better for the company to concentrate in the west and enter the northern
markets slowly after stabilising in the western markets.
Fixed Assets:
- Computers
- Furniture
- Office Equipments
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.44.85 |
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|
1 |
Rs.73.29 |
|
Euro |
1 |
Rs.64.89 |
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 |
4 |
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--MARGINS |
-5~5 |
-- |
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DEMERIT POINTS |
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--BANK CHARGES |
YES/NO |
NO |
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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 |
|
42 |
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 |
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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 |
|
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 |
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This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.