MIRA INFORM REPORT
|
Report Date : |
15.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
YES FACADE SYSTEMS PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
12, Ground Floor, Raghuvanshi Mills, S.B. Marg, Lower Parel, Mumbai –
400013, Maharashtra |
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|
Country : |
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Financials (as
on) : |
31.03.2010 |
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|
|
|
Date of Incorporation
: |
18.04.2008 |
|
|
|
|
Com. Reg. No.: |
11-181295 |
|
|
|
|
Capital
Investment/ Paid-up Capital: |
Rs. 4.771 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U51900MH2008PTC181295 |
|
|
|
|
TAN No.: [Tax Deduction & Collection
Account No.] |
MUMY02099G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AAACY3441J |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business
: |
Installing Windows and Doors. |
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|
|
|
No. of
Employees: |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (20) |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow |
|
|
|
|
Litigation : |
Clear |
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|
|
|
Comments : |
Subject is a company having moderate track records. Profitability of
the company is under pressure. There appears some accumulated losses recorded
by the company. However, trade relations are fair. Business is active.
Payments are reported to be slow. The company can be considered for business dealings on a secured 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.
ECGC Country Risk Classification List – September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
|
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
LOCATIONS
|
Registered Office : |
12, Ground Floor, Raghuvanshi Mills, S.B. Marg, Lower Parel, Mumbai –
400013, Maharashtra, India |
|
Tel. No.: |
91-22-24932310 |
|
Fax No.: |
91-22-24932309 |
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E-Mail : |
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Website: |
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Branch Office : |
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DIRECTORS
As on 26.08.2010
|
Name : |
Mr. Venkataraman Ananthanarayan |
|
Designation : |
Director |
|
Address : |
B-203, Sita Kutir, Veena Nagar Phase II, Mulund (West), Mumbai –
400080, |
|
Date of Appointment : |
18.04.2008 |
|
DIN No. : |
00398580 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation
of the director |
Date of appointment
at current designation |
Original date of
appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U99999MH1991PTC060930 |
Tainwala Financial Consultants Private Limited |
Director |
04-09-05 |
04-09-05 |
- |
Active |
NO |
|
2 |
U51900MH2008PTC181295 |
Yes Facade Systems Private Limited |
Director |
18-04-08 |
18-04-08 |
- |
Active |
NO |
|
3 |
U27205MH2008PTC181690 |
Samuel Aaron Trading ( |
Director |
29-04-08 |
29-04-08 |
04-11-09 |
Active |
NO |
|
4 |
U74140MH2008PTC184909 |
V-Magnum Opus Strategic Solutions Private Limited |
Director |
29-11-10 |
18-11-10 |
- |
Active |
NO |
|
Name : |
Mr. Joel Ron Kadish |
|
Designation : |
Director |
|
Address : |
9, H’agazit, St. Binyamina – 30500, |
|
Date of Appointment : |
20.06.2008 |
|
DIN No. : |
02306200 |
Other Directorship:
|
S.No. |
CIN |
Name of the Company |
Current designation
of the director |
Date of appointment
at current designation |
Original date of
appointment |
Date of cessation |
Company Status |
Defaulting status |
|
1 |
U51900MH2008PTC181295 |
Yes Facade Systems Private Limited |
Director |
16-10-09 |
20-06-08 |
- |
Active |
NO |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on 26.08.2010
|
Names of Shareholders |
|
No. of Shares |
|
Joel Ron Kadish and Mrs. Naomi Kadish |
|
9900 |
|
Naomi Kadish and Mr. Joel Ron Kadish |
|
100 |
|
Joel Ron Kadish |
|
467140 |
|
Total |
|
477140 |
As on 05.04.2010
|
Names of Allottee |
|
No. of Shares
Allotted |
|
Mr. Joel Ron Kadish |
|
271840 |
|
Total |
|
271840 |
Equity Share Break up (Percentage of Total Equity)
As on 26.08.2010
|
Category |
Percentage |
|
Directors or relatives of Directors |
100.00 |
|
Total |
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Installing Windows and Doors. |
GENERAL INFORMATION
|
Bankers : |
Not Available |
|
|
|
|
Banking
Relations : |
-- |
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|
|
|
Auditors : |
|
|
Name : |
M.M. Nissim and Company Chartered Accountants |
|
Address : |
Barodawala Mansion, B-Wing, 3rd Floor, 81, Dr. Annie Besant
Road, Worli, Mumbai – 400081, Maharashtra, India |
|
Tel. No.: |
91-22-24949991 |
|
Fax No.: |
91-22-24949995 |
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Email: |
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|
Website: |
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PAN NO : |
AAAFM5103A |
CAPITAL STRUCTURE
As on 26.08.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
477140 |
Equity Shares |
Rs. 10/-
each |
Rs. 4.771
Millions |
As on 31.03.2010
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
500000 |
Equity Shares |
Rs. 10/- each |
Rs. 5.000 Millions |
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
205300 |
Equity Shares |
Rs. 10/-
each |
Rs. 2.053
Millions |
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
|
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
|
2.053 |
2.053 |
|
|
2] Share Application Money |
|
2.718 |
0.000 |
|
|
3] Reserves & Surplus |
|
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
|
(0.789) |
(0.363) |
|
|
NETWORTH |
|
3.982 |
1.690 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
|
0.000 |
0.000 |
|
|
2] Unsecured Loans |
|
0.000 |
0.000 |
|
|
TOTAL BORROWING |
|
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
3.982 |
1.690 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
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|
|
FIXED ASSETS [Net Block] |
|
0.546 |
0.293 |
|
|
Capital work-in-progress |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
|
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
|
0.000 |
0.000 |
|
|
Sundry Debtors |
|
4.825 |
2.826 |
|
|
Cash & Bank Balances |
|
0.943 |
1.937 |
|
|
Other Current Assets |
|
0.000 |
0.000 |
|
|
Loans & Advances |
|
1.819 |
0.380 |
|
Total
Current Assets |
|
7.587 |
5.143 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
|
0.664 |
0.607 |
|
|
Other Current Liabilities |
|
3.487 |
3.139 |
|
|
Provisions |
|
0.000 |
0.000 |
|
Total
Current Liabilities |
|
4.151 |
3.746 |
|
|
Net Current Assets |
|
3.436 |
1.397 |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
|
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
|
3.982 |
1.690 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
|
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Project Installation Revenue |
|
9.351 |
3.552 |
|
|
|
Commission Received |
|
7.460 |
3.956 |
|
|
|
Other Income |
|
0.071 |
0.000 |
|
|
|
TOTAL |
|
16.882 |
7.508 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
7.772 |
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL |
|
17.309 |
7.772 |
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
BEFORE TAX |
|
(0.427) |
(0.264) |
|
|
|
|
|
|
|
|
|
Less |
TAX |
|
0.000 |
0.099 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX |
|
(0.427) |
(0.363) |
|
|
|
|
|
|
|
|
|
Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
|
(0.363) |
0.000 |
|
|
|
|
|
|
|
|
|
|
BALANCE
CARRIED TO THE B/S |
|
(0.790) |
(0.363) |
|
|
|
|
|
|
|
|
|
|
Earnings/ (Loss)
Per Share (Rs.) |
|
(2.08) |
(6.80) |
|
KEY RATIOS
|
PARTICULARS |
|
|
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
|
(2.52) |
(4.83) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
|
(4.56) |
(7.43) |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
|
(5.25) |
(4.85) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
|
(0.10) |
(0.16) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
|
1.04 |
2.21 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
|
1.82 |
1.37 |
LOCAL AGENCY FURTHER INFORMATION
NOTE:
The company changed its registered office from ‘B’ Wing, 3rd
Floor,
OPERATIONS:
During the year the company has earned income amounting to Rs. 9.351
Millions (Previous year Rs. 3.551 Millions) the financial results show that the
company has incurred a loss of Rs. 0.426
Million (Previous year Rs. 0.362 Million)
FIXED ASSETS:
- Plant and
Machinery
- Furniture and
Fixtures
- Office
Equipments
- Computer
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] 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.50.08 |
|
|
1 |
Rs.80.36 |
|
Euro |
1 |
Rs.68.83 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
4 |
|
OPERATING SCALE |
1~10 |
4 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
3 |
|
--PROFITABILIRY |
1~10 |
- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
2 |
|
--RESERVES |
1~10 |
- |
|
--CREDIT LINES |
1~10 |
2 |
|
--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 |
NO |
|
--LISTED |
YES/NO |
NO |
|
--OTHER MERIT FACTORS |
YES/NO |
YES |
|
TOTAL |
|
20 |
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.