MIRA
INFORM REPORT
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Report Date : |
23.03.2011 |
IDENTIFICATION DETAILS
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Name : |
BAID ELECTRONICS DISTRIBUTION PRIVATE LIMITED |
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Registered
Office : |
C-7, 1st Floor, |
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Country : |
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Date of
Incorporation : |
18.06.2010 |
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Com. Reg. No.: |
204432 |
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CIN No.: [Company Identification
No.] |
U74900MH2010PTC204432 |
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TAN No.: [Tax Deduction &
Collection Account No.] |
MUMB20461A |
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PAN No.: [Permanent Account No.] |
AAECB1653P |
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Legal Form : |
Private Limited Liability Company. |
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Line of Business
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Distributor of IT and Consumer Electronics. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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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 |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
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Comments : |
Subject is a new company and yet to complete its first full year of operations.
The company failure to provide the valuation report. However the networth
statement provided seems to be satisfactory. No further details or payment
could be made available. It would be advisable to take adequate securities while dealing with the
subject. |
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 – April 1, 2010
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Country Name |
Previous Rating (31.12.2009) |
Current Rating (01.04.2010) |
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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
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Name : |
Mr. Pravin Gandhi |
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Designation : |
Finance Department |
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Contact No.: |
91-9619444283 |
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Date : |
22.03.2011 |
LOCATIONS
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Registered Office : |
C-7, 1st Floor, |
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Tel. No.: |
91-22-30458800 |
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Fax No.: |
91-22-30458870 |
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E-Mail : |
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Website : |
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Area : |
Leased |
DIRECTORS
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Name : |
Mr. Pushpesh Baid |
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Designation : |
Director |
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Address : |
203/1, |
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Date of Birth/Age : |
12.04.1981 |
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Qualification : |
B.Com |
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Experience : |
6 Years |
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Name : |
Mrs. Kokila Devi Baid |
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Designation : |
Director |
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Address : |
203/1, |
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Date of Birth/Age : |
17.01.1957 |
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Qualification : |
B.Com |
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Experience : |
25 Years |
KEY EXECUTIVES
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Name : |
Mr. Pravin Gandhi |
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Designation : |
Finance Department |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 08.06.2010
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Names of Shareholders |
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No. of Shares |
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Pushpesh Kumar Baid |
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5000 |
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Kokiladevi Baid |
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5000 |
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Total |
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10000 |
BUSINESS DETAILS
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Line of Business : |
Distributor of IT and Consumer Electronics. |
GENERAL INFORMATION
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Suppliers : |
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Customers : |
Various Dealers/ Stockists/ Retails: Credit Period Allowed (35 Days
Average) |
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No. of Employees : |
Approximately 6 (In Office) |
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Bankers : |
Central Bank of |
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Banking
Relations : |
-- |
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Auditors : |
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Name : |
Not Available |
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Associates: |
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CAPITAL STRUCTURE
Authorised 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 |
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 |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
NEW COMPANY
LOCAL AGENCY FURTHER INFORMATION
TO WHOM IT
MAY CONCERN
NET WORTH POSITION AS ON
31.03.2010
They have checked the books and accounts of
KOKILA DEVI BAID of 12A,
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TO WHOM IT
MAY CONCERN
NET WORTH POSITION AS ON
31.03.2010
They have checked the books and accounts of
PUSHPESH KUMAR BAID of 12A,
MRS.
KOKILA DEVI BAID
(DIRECTOR)
PROVISIONAL BALANCE SHEET
|
SOURCES OF FUNDS |
31.03.2010 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
10.148 |
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2] Share Application Money |
0.000 |
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3] Reserves & Surplus |
0.000 |
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4] (Accumulated Losses) |
0.000 |
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NETWORTH |
10.148 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
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2] Unsecured Loans |
68.203 |
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TOTAL BORROWING |
68.203 |
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DEFERRED TAX LIABILITIES |
0.000 |
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TOTAL |
78.351 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
26.087 |
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Capital work-in-progress |
0.000 |
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INVESTMENT |
52.177 |
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DEFERREX TAX ASSETS |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000 |
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Sundry Debtors |
0.000 |
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Cash & Bank Balances |
0.087 |
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Other Current Assets |
0.000 |
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Loans & Advances |
0.000 |
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Total
Current Assets |
0.087 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
0.000 |
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Other Current Liabilities |
0.000 |
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Provisions |
0.000 |
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Total
Current Liabilities |
0.000 |
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Net Current Assets |
0.087 |
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MISCELLANEOUS EXPENSES |
0.000 |
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TOTAL |
78.351 |
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MR.
PUSHPESH KUMAR BAID
(DIRECTOR)
BALANCE SHEET
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SOURCES OF FUNDS |
31.03.2010 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
8.257 |
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2] Share Application Money |
0.000 |
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3] Reserves & Surplus |
0.000 |
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4] (Accumulated Losses) |
0.000 |
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NETWORTH |
8.257 |
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LOAN FUNDS |
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1] Secured Loans |
28.344 |
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2] Unsecured Loans |
161.540 |
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TOTAL BORROWING |
189.884 |
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DEFERRED TAX LIABILITIES |
0.000 |
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TOTAL |
198.141 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
162.998 |
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Capital work-in-progress |
0.000 |
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INVESTMENT |
34.967 |
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DEFERREX TAX ASSETS |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000 |
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Sundry Debtors |
0.000 |
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Cash & Bank Balances |
0.176 |
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Other Current Assets |
0.000 |
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Loans & Advances |
0.000 |
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Total
Current Assets |
0.176 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
0.000 |
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Other Current Liabilities |
0.000 |
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Provisions |
0.000 |
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Total
Current Liabilities |
0.000 |
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Net Current Assets |
0.176 |
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MISCELLANEOUS EXPENSES |
0.000 |
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TOTAL |
198.141 |
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ASSESSMENT OF WORKING
CAPITAL REQUIREMENTS
OPERATING STATEMENT
(Rs. in Millions)
|
PARTICULARS |
March -12 Estimated |
March- 13 Projected |
March-14 Projected |
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1. Gross Sales |
400.000 |
440.000 |
484.000 |
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a. Domestic |
400.000 |
440.000 |
484.000 |
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b. Export |
-- |
-- |
-- |
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2. Less Excise Duty/ Sales Tax |
-- |
-- |
-- |
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3. Net Sales (1-2) |
400.000 |
440.000 |
484.000 |
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4. % rise or fall in net sales |
0% |
10% |
10% |
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5. Cost of Sales: |
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I. Raw Materials |
391.970 |
395.492 |
430.183 |
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a. Imported |
-- |
-- |
-- |
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b. Indigenous |
391.970 |
395.890 |
435.479 |
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ii. Other Spares |
-- |
-- |
-- |
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iii. Power and Fuel |
0.500 |
0.600 |
0.800 |
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iv. Direct Labour |
0.200 |
0.200 |
0.200 |
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v. Other Manufacturing Expenses |
-- |
-- |
-- |
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vi. Depreciation and Amortisation |
0.338 |
0.451 |
0.564 |
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vii. Sub Total (I to Vi) |
393.008 |
396.743 |
431.747 |
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vii. Add Opening stock-in-process |
-- |
-- |
-- |
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ix. Deduct closing stock-in-process |
-- |
-- |
-- |
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x. COST OF PRODUCTION |
393.008 |
396.743 |
431.747 |
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xi. Add Opening stock in finished goods |
-- |
29.770 |
32.385 |
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xii. Less: Closing Stock of Finished Goods |
29.770 |
32.385 |
35.226 |
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xiii. COST OF SALES |
363.238 |
394.128 |
428.906 |
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6. Selling, General and Administrative
Expenses |
20.000 |
26.400 |
33.880 |
|
7. Sub Total (5+6) |
383.238 |
420.528 |
462.786 |
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8. Operating Profit before interest (3-7) |
16.762 |
19.472 |
21.214 |
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9. Interest on working Capital |
10.000 |
10.313 |
10.625 |
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10. Operating Profit after Interest (8-9) |
6.762 |
9.160 |
10.589 |
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11a. Other Non-operating income: Interest Income
on Fixed Deposit |
-- |
-- |
-- |
|
b. Other non-operating expenses: |
-- |
-- |
-- |
|
Preliminary Expenses written off |
-- |
-- |
-- |
|
c. Net Other non-operating Income/ Expenses
(a-b) |
-- |
-- |
-- |
|
12. Profit / Loss before Tax (10+11c) |
6.762 |
9.160 |
10.589 |
|
13. Provision for taxes |
2.276 |
2.748 |
3.177 |
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14. NET PROFIT/ LOSS (12-13) |
4.486 |
6.412 |
7.412 |
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15. Dividend Paid + Provision Dividend Rate: |
-- |
-- |
-- |
|
16. Retained Profit (14-15) |
4.486 |
6.412 |
7.412 |
|
17 % of Net Profit Retained (16/14) |
100.00 |
100.00 |
100.00 |
ANALYSIS OF BALANCE SHEET
(Rs. in Millions)
|
PARTICULARS |
March -12 Estimated |
March- 13 Projected |
March-14 Projected |
|
LIABILITIES |
|
|
|
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CURRENT LIABILITIES |
|
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1. Short term borrowings form Banks: |
|
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a. From Applicant Bank |
80.000 |
82.500 |
85.000 |
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Sub Total (A) |
80.000 |
82.500 |
85.000 |
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2. Short term borrowings from others |
-- |
-- |
-- |
|
3. Sundry Creditors |
7.517 |
7.592 |
8.352 |
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4. Advance payments from customers/ deposits
form |
-- |
-- |
-- |
|
5. Provision for Taxation |
2.276 |
2.748 |
3.177 |
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6. Dividend Payable |
-- |
-- |
-- |
|
7. Other Statutory Liabilities (Due within
one year) |
-- |
-- |
-- |
|
8. Installments of Term Loans/ DPCs/
debentures due within one year |
-- |
-- |
-- |
|
9. Other current liabilities and provisions |
-- |
-- |
-- |
|
Sub Total (B) |
9.793 |
10.340 |
11.528 |
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10. TOTAL CURRENT LIABILITIES (A+B) |
89.793 |
92.840 |
96.528 |
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TERM LIABILITIES |
|
|
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11. Debentures (not maturing within one
year) |
-- |
-- |
-- |
|
12. Preferences shares (not redeemable
within one year) |
-- |
-- |
-- |
|
13. Term Loans (excluding installments
payable within one year) |
-- |
-- |
-- |
|
14. Deferred payment Credits (excluding
installment due within one year) |
-- |
-- |
-- |
|
15. Term Deposit accepted (Repay after one
year) |
-- |
-- |
-- |
|
16. Other Term Liabilities (Unsecured Loan) |
-- |
-- |
-- |
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17. TOTAL TERM LIABILITIES |
89.793 |
92.840 |
96.528 |
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18. TOTAL OUTSIDE LIABILITIES (10+17) |
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NET WORTH |
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19. Share Capital |
25.000 |
25.000 |
25.000 |
|
19a Share Premium |
-- |
-- |
-- |
|
19b Share Application Money |
-- |
-- |
-- |
|
20. Capital Reserve |
-- |
-- |
-- |
|
21. Revaluation Reserves |
-- |
-- |
-- |
|
22. Quasi Capital |
-- |
-- |
-- |
|
23. Surplus/ Deficit in Profit and Loss
Account |
4.486 |
10.898 |
18.310 |
|
23a. Others (Specify) Deferred Tax
Liabilities |
-- |
-- |
-- |
|
24. NET WORTH |
29.486 |
35.898 |
43.310 |
|
25. TOTAL LIABILITIES |
119.279 |
128.738 |
139.839 |
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ASSETS |
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CURRENT ASSETS |
|
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26. Cash and Bank Balances |
2.018 |
3.613 |
2.829 |
|
27. Investments (Other than long term) |
-- |
-- |
-- |
|
a. Government and other Trustee Securities |
-- |
-- |
-- |
|
b. Fixed Deposits with banks |
-- |
-- |
-- |
|
c. Others |
-- |
-- |
-- |
|
28. a. Receivables other than deferred and
exports (including bills purchased % discounted by banks) |
38.356 |
42.192 |
46.411 |
|
b. Export Receivables (including bills
purchased and discounted by banks) |
-- |
-- |
-- |
|
23. Inventory: |
|
|
|
|
i. Raw Materials |
-- |
-- |
-- |
|
a. Imported |
-- |
-- |
-- |
|
b. Indigenous |
-- |
-- |
-- |
|
ii. Stock-in-process |
-- |
-- |
-- |
|
iii. Finished Goods |
29.770 |
32.385 |
35.226 |
|
iv. Other consumable spares |
-- |
-- |
-- |
|
a. Imported |
-- |
-- |
-- |
|
b. Indigenous |
-- |
-- |
-- |
|
30. Advances to suppliers |
39.197 |
39.589 |
43.548 |
|
31. Advance payment of taxes |
2.276 |
2.748 |
3.177 |
|
32. Other Current Assets (Specify) |
5.000 |
5.000 |
5.000 |
|
33. TOTAL CURRENT ASSETS |
116.617 |
125.527 |
136.191 |
|
|
|
|
|
|
FIXED ASSETS |
|
|
|
|
34. Gross Block |
3.000 |
4.000 |
5.000 |
|
35. Depreciation to date |
0.338 |
0.789 |
1.352 |
|
36. NET BLOCK (34-35) |
2.662 |
3.211 |
3.648 |
|
|
|
|
|
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OTHER NON- CURRENT ASSETS |
|
|
|
|
37. Investments, Book Debts, Advances,
Deposits which are not current assets |
-- |
-- |
-- |
|
i. A. Investments in subsidiary companies |
-- |
-- |
-- |
|
a. Affiliates |
-- |
-- |
-- |
|
b. Others |
-- |
-- |
-- |
|
ii. Advances to suppliers of capital goods
and contractors |
-- |
-- |
-- |
|
iii. Deferred receivables (maturity
exceeding one year) |
-- |
-- |
-- |
|
iv. Debt o/s for more than 6 months |
-- |
-- |
-- |
|
v. Deposits with banks |
-- |
-- |
-- |
|
38. Non- Consumable stores and spares |
-- |
-- |
-- |
|
39. Other non-current assets including dues
from customers |
-- |
-- |
-- |
|
40. TOTAL OTHER NON-CURRENT ASSETS |
-- |
-- |
-- |
|
41. Intangible assets (patents, goodwill,
preliminary expenses etc.) |
-- |
-- |
-- |
|
42. TOTAL ASSETS (33+36+40+41) |
119.279 |
128.738 |
139.839 |
|
43. TANGIBLE NET WORTH (24-41) |
29.486 |
35.898 |
43.310 |
|
44. NET WORKING CAPITAL (17+24) – (37+40+41) |
26.824 |
32.687 |
39.663 |
|
45. CURRENT RATIO |
1.30 |
1.35 |
1.41 |
|
46. TOL/TNW |
3.05 |
2.59 |
2.23 |
COMPARATIVE STATEMENT OF
CURRENT ASSETS AND CURRENT LIABILITIES
(Rs. in Millions)
|
PARTICULARS |
March -12 Estimated |
March- 13 Projected |
March-14 Projected |
|
I. CURRENT ASSETS |
|
|
|
|
1. Raw Material |
|
|
|
|
a) Imported |
-- |
-- |
-- |
|
Day’s Consumption |
-- |
-- |
-- |
|
b) Indigenous |
-- |
-- |
-- |
|
Day’s Consumption |
-- |
-- |
-- |
|
2. Other Consumable Spares |
|
|
|
|
a) Imported |
-- |
-- |
-- |
|
Day’s Consumption |
-- |
-- |
-- |
|
b) Indigenous |
-- |
-- |
-- |
|
Day’s Consumption |
-- |
-- |
-- |
|
3. Stock-in-process |
-- |
-- |
-- |
|
Days’ cost of production |
-- |
-- |
-- |
|
4. Finished Goods |
29.770 |
32.385 |
35.226 |
|
Day’s Cost of Sales |
[29.91] |
[29.99] |
[29.98] |
|
5. Receivables |
|
|
|
|
a) Other than export and deferred
receivables |
38.356 |
42.192 |
46.411 |
|
Days’ domestic sales |
-- |
-- |
-- |
|
b) Export receivables |
-- |
-- |
-- |
|
Days’ Export Sales |
-- |
-- |
-- |
|
6. Advances to Suppliers of RM and Spares |
39.197 |
39.589 |
43.548 |
|
7. Cash and Bank Balances |
2.018 |
3.613 |
2.829 |
|
8. Other Current Assets including Loans and
Advances |
7.276 |
7.748 |
8.177 |
|
9. TOTAL CURRENT ASSETS |
116.617 |
125.527 |
136.191 |
|
|
|
|
|
|
II OTHER CURRENT LIABILITIES |
|
|
|
|
10. Sundry Creditors (Trade) |
7.517 |
7.592 |
8.352 |
|
Days’ Purchase |
[7.00] |
[7.00] |
[7.00] |
|
11. Advance form Customers |
-- |
-- |
-- |
|
12. Provision for Taxation |
2.276 |
2.748 |
3.177 |
|
13a. Dividend payable |
-- |
-- |
-- |
|
13b. Other Statutory Liabilities |
-- |
-- |
-- |
|
13c. Short term borrowings form others |
-- |
-- |
-- |
|
13d. Installments of TLs/ DPGs |
-- |
-- |
-- |
|
13e. Other Current liabilities and
provisions |
-- |
-- |
-- |
|
14. TOTAL OTHER CURRENT LIABILITIES |
9.793 |
10.340 |
11.528 |
COMPUTATION OF PERMISSIBLE
BANK FINANCE FRO WORKING CAPITAL
(Rs. in Millions)
|
PARTICULARS |
March -12 Estimated |
March- 13 Projected |
March-14 Projected |
|
1. Total Current Assets |
116.617 |
125.527 |
136.191 |
|
2.Other Current Liabilities (Other than bank borrowings) |
9.793 |
10.340 |
11.528 |
|
3. Working Capital Gap |
106.824 |
115.187 |
124.663 |
|
4. Minimum Stipulated Net Working Capital (25% of Total Current Assets excluding
export receivables) |
26.706 |
28.797 |
31.166 |
|
5. Net Working Capital |
26.824 |
32.687 |
39.663 |
|
6. Item 3 minus item 4 |
80.118 |
86.390 |
93.497 |
|
7. Item 3 minus item 5 |
80.000 |
82.500 |
85.000 |
|
8. Maximum permissible bank finance (Lower
of 6 or 7) |
80.000 |
82.500 |
85.000 |
|
9. Excess borrowings representing shortfall
in NWC |
-- |
-- |
-- |
FUND FLOW STATEMENT
(Rs. in Millions)
|
PARTICULARS |
March -12 Estimated |
March- 13 Projected |
March-14 Projected |
|
1. SOURCES |
|
|
|
|
a) Net Profit after tax |
4.486 |
6.412 |
7.412 |
|
b) Depreciation |
0.338 |
0.451 |
0.564 |
|
c) Increase in Capital |
25.000 |
-- |
-- |
|
d) Increase in term Liabilities |
-- |
-- |
-- |
|
e) Decrease in |
-- |
-- |
-- |
|
i) Fixed assets |
-- |
-- |
-- |
|
ii) Other non current assets |
-- |
-- |
-- |
|
f) Others – Increase in Quasi Capital |
-- |
-- |
-- |
|
TOTAL |
29.824 |
6.863 |
7.976 |
|
2. USES |
|
|
|
|
a) Net Loss |
-- |
-- |
-- |
|
b) Decrease in term liabilities (including
public deposit) |
-- |
-- |
-- |
|
c) Increase in |
3.000 |
1.000 |
1.000 |
|
i) Fixed Assets |
-- |
-- |
-- |
|
ii) Other non current assets |
-- |
-- |
-- |
|
d) Dividend payments |
-- |
-- |
-- |
|
e) Others |
-- |
-- |
-- |
|
TOTAL |
3.000 |
1.000 |
1.000 |
|
3. Long Term Surplus (+)/ Deficit (-) |
26.824 |
5.863 |
6.976 |
|
4. Increase/ decrease in current assets* (as
per details given below) |
116.617 |
8.910 |
10.664 |
|
5. Increase/ decrease in current liabilities
other than bank borrowings |
9.793 |
0.547 |
1.188 |
|
6. Increase/ decrease in working capital gap |
106.824 |
8.363 |
9.476 |
|
7. Net Surplus (+)/ Deficit(-) |
[80.000] |
[2.500] |
[2.500] |
|
8. Increase / decrease in Bank borrowings |
80.000 |
2.500 |
2.500 |
|
|
-- |
0.000 |
0.000 |
|
* Break up of 4 |
|
|
|
|
i) Increase/ Decrease in raw material |
-- |
-- |
-- |
|
ii) Increase/ Decrease in stocks in process |
-- |
-- |
-- |
|
iii) Increase/ Decrease in finished goods |
29.770 |
2.615 |
2.841 |
|
iv) Increase / Decrease in receivables |
38.356 |
3.836 |
4.219 |
|
a) Domestic |
38.356 |
3.836 |
4.219 |
|
b) Export |
-- |
-- |
-- |
|
v) Increase/ Decrease in consumable store
and spare |
-- |
-- |
-- |
|
vi) Increase/ Decrease in other current
assets |
48.491 |
2.459 |
3.604 |
|
Total Increase in Current Assets |
116.617 |
8.910 |
10.664 |
DUE DILIGENCE REPORT
BORROWER:
|
Borrower’s Name and Address |
BAID Electronics Distribution Private
Limited Office No. 7, |
|
|
|
|
Other site(s) of the borrower/ site (s) |
Company did not have any other office or
site |
|
|
|
|
Constitution of the borrower |
Private Limited Company |
|
|
|
|
Name of the Directors |
|
BUSINESS
ACTIVITIES:
|
Profile (Nature of Activity) |
Distribution channel for IT and Consumer
Durable Products |
|
|
|
|
Products |
All kinds of Electronic and Electrical
items, including mobile phones and accessories, Telephone instruments, cameras
Laptops, Computer and IT accessories, LCDs, CRTs, Televisions, Audio, Video
Products, Consumers durables, Complete range of Air Conditioners, White and
Brown Goods, Invertors, Large and small electronic appliances, music, gaming
and entertainment devices, Value Added Services, New Telephone/ Mobile
connections, recharge vouchers and providing necessary services including
repairs of any types for aforesaid or such other type of products Microwave
Telecom Systems, Optical Fibre Systems, Home Electrical Appliances such as
Steam Press, Automatic Toasters, Oven Cum Toasters, Microwave Ovens, Washing
Machines, Sewing Machines, Hair Driers and all kinds of Electronics and
Electrical Parts and Accessories. Consumers Electronics products like TV,
Refrigerator, Owens, Air Conditioner, Mobile Handsets etc. |
|
|
|
|
Details of Fixed Assets (Estimated) ·
Land and Building ·
Plant and Machinery ·
Furniture and Fixture ·
Other Assets |
Rs. 0.000 Million Rs. 0.000 Million Rs. 2.000 Millions Rs. 1.000 Million |
PERSONAL
ASSETS OF THE DIRECTORS:
|
Name |
Description of the Assets owned by them |
Amount (Rs. in
Millions) |
Whether offered
as Security |
|
Mr. Pushpesh Baid |
|
0.066 162.932 32.467 2.500 0.176 |
NO |
|
|
|
|
|
|
Mrs. Kolila Devi Baid |
|
25.921 52.127 0.167 0.087 |
NO |
FINANCIAL
ANALYSIS:
|
Whether the critical ratios conforms to the
bench mark stipulation |
|
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.44.97 |
|
|
1 |
Rs.73.35 |
|
Euro |
1 |
Rs. 63.98 |
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.