MIRA
INFORM REPORT
|
Report Date : |
03.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
CARPIGIANI INDIA PRIVATE LIMITED |
|
|
|
|
Registered
Office : |
Building No.16, Unit No.20, Jogani Industrial Complex, V. N. Purav
Marg, Chunabhati, Sion (East), Mumbai - 400022, Maharashtra |
|
|
|
|
Country : |
India |
|
|
|
|
Financials (as
on) : |
31.03.2011 |
|
|
|
|
Date of
Incorporation : |
24.04.2008 |
|
|
|
|
Com. Reg. No.: |
11-181500 |
|
|
|
|
Capital
Investment / Paid-up Capital : |
Rs.3.132 Millions |
|
|
|
|
CIN No.: [Company Identification
No.] |
U74900MH2008PTC181500 |
|
|
|
|
TAN No.: [Tax Deduction &
Collection Account No.] |
MUMC16022G |
|
|
|
|
PAN No.: [Permanent Account No.] |
AADCC3467H |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business
: |
Importer, Trader and Service Provider in Machine to prepare, produce,
Store and Display Frozen Desert, Ice Creams etc. |
|
|
|
|
No. of Employees
: |
4 (Approximately) |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca (15) |
|
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 |
|
|
|
|
Comments : |
Subject is a company having moderate track. There appear huge
accumulated losses recorded by the company. However, trade relations are
reported as 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 – June 30, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
India |
A1 |
A1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
EXTERNAL AGENCY RATING
|
Rating Agency Name |
CRISIL |
|
Rating |
SE3C |
|
Rating Explanation |
Financial strength of the company is low and
having moderate capacity to performe. |
|
Date |
January 2012 |
RBI DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter
in the publicly available RBI Defaulters’ list.
EPF (Employee Provident Fund) DEFAILTERS’ LIST STATUS
Subject’s name is not enlisted as a defaulter in
the publicly available EPF (Employee Provident Fund) Defaulters’ list as of
31-03-2012.
INFORMATION PARTED BY
|
Name : |
Mr. Niranjan |
|
Designation : |
Director |
|
Contact No.: |
91-9321721199 |
|
Date : |
30.07.2012 |
LOCATIONS
|
Registered Office : |
Building No.16, Unit No.20, Jogani Industrial Complex, V. N. Purav
Marg, Chunabhati, Sion (East), Mumbai - 400022, Maharashtra, India |
|
Tel. No.: |
91-22-32171199 |
|
Mobile No.: |
91-9321721199 (Mr. Niranjan) |
|
Fax No.: |
91-22-24055738 |
|
E-Mail : |
DIRECTORS
As on: 30.09.2011
|
Name : |
Mr. Vinayak Dhananjay Nalawade |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
185/5194, Pant Nagar, Ghatkopar (West), Mumbai-400075, Maharashtra,
India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
27.11.1973 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
24.04.2008 |
|||||||||||||||||||||||||||
|
Voter ID No.: |
MT/07/050/0264320 |
|||||||||||||||||||||||||||
|
DIN No.: |
00288431 |
|||||||||||||||||||||||||||
|
Other Directorship :
|
||||||||||||||||||||||||||||
|
|
|
|||||||||||||||||||||||||||
|
Name : |
Mr. Niranjan Lakshminarayan |
|||||||||||||||||||||||||||
|
Designation : |
Director |
|||||||||||||||||||||||||||
|
Address : |
B 6, Three Star Chheda Nagar, Chembur, Mumbai-400089, Maharashtra,
India |
|||||||||||||||||||||||||||
|
Date of Birth/Age : |
23.06.1976 |
|||||||||||||||||||||||||||
|
Date of Appointment : |
24.04.2008 |
|||||||||||||||||||||||||||
|
DIN No.: |
02121264 |
|||||||||||||||||||||||||||
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
As on: 30.09.2011
|
Names of Shareholders |
|
No. of Shares |
|
Vinayak Dhananjay Nalawade |
|
1000 |
|
Niranjan Lakshminarayan |
|
9000 |
|
Ali SPA, Milano |
|
303180 |
|
|
|
|
|
Total |
|
313180 |
Equity Share Break up (Percentage of Total Equity)
As on: 30.09.2011
|
Category |
|
Percentage |
|
|
|
|
|
Foreign holdings [Foreign institutional investors, Foreign Companies, Foreign Financial Institutions, Non-resident Indian or Overseas corporate bodies or others] |
|
96.80 |
|
Directors or relatives of directors |
|
3.20 |
|
Total
|
|
100.00 |
BUSINESS DETAILS
|
Line of Business : |
Importer, Trader and Service Provider in Machine to prepare, Produce,
Store and Display Frozen Desert, Ice Creams etc. |
|
|
|
|
Products : |
Blast Freezers ·
Nordica 50.EPS ·
Nordika 100.EPS etc Cream Whippers ·
Ecowip G ·
Jetwip G ·
Masterwip G ·
Miniwip G.EPS Gelato Machines ·
Labo 8-12E ·
Pronto 4 Counter FT Softy Machines ·
Ice Cream ·
191 Spaghetti Soft ·
Miss Yogurt ·
N\'ice Dream 191 ·
Rainbow3 TIF ·
Rainbow1 ·
Super 39 BP. |
|
|
|
|
Imports : |
|
|
Products : |
Ice Creams Machine |
|
Countries : |
Europe |
|
|
|
|
Terms : |
|
|
Selling : |
Cash and Credit |
|
|
|
|
Purchasing : |
Cash and Credit |
GENERAL INFORMATION
|
Customers : |
End Users ·
Taj Group Hotels |
|
|
|
|
No. of Employees : |
4 (Approximately) |
|
|
|
|
Bankers : |
Citi Bank, Fort Branch, Mumbai, Maharashtra, India |
|
|
|
|
|
|
|
Banking
Relations : |
-- |
|
|
|
|
Auditors : |
|
|
Name : |
Shaparia and Mehta Chartered Accountant |
|
Address : |
1/74, Krishna Kunj, R. A Kidwai Road, King’s Circle, Matunga, Mumbai -
400019, Maharashtra, India |
|
Tel. No.: |
91-22-24098905/ 06/ 07/ 08 |
|
Fax No.: |
91-22-24098905/ 06/ 07/ 08 |
|
E-Mail : |
CAPITAL STRUCTURE
As on: 31.03.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
400000 |
Equity Shares |
Rs.10/- each |
Rs. 4.000 Millions |
|
|
|
|
|
Issued, Subscribed & Paid-up Capital :
|
No. of Shares |
Type |
Value |
Amount |
|
|
|
|
|
|
313180 |
Equity Shares |
Rs.10/- each |
Rs. 3.132 Millions |
|
|
|
|
|
FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
|
SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
SHAREHOLDERS FUNDS |
|
|
|
|
|
1] Share Capital |
3.132 |
3.132 |
1.632 |
|
|
2] Share Application Money |
0.000 |
0.000 |
1.500 |
|
|
3] Reserves & Surplus |
0.000 |
0.000 |
0.000 |
|
|
4] (Accumulated Losses) |
(3.658) |
(3.682) |
(2.681) |
|
|
NETWORTH |
(0.526) |
(0.550) |
0.451 |
|
|
LOAN FUNDS |
|
|
|
|
|
1] Secured Loans |
0.000 |
0.000 |
0.000 |
|
|
2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
|
|
TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
|
|
DEFERRED TAX LIABILITIES |
0.015 |
0.000 |
0.014 |
|
|
|
|
|
|
|
|
TOTAL |
(0.511) |
(0.550) |
0.465 |
|
|
|
|
|
|
|
|
APPLICATION OF FUNDS |
|
|
|
|
|
|
|
|
|
|
|
FIXED ASSETS [Net Block] |
0.752 |
0.871 |
0.958 |
|
|
Capital work-in-progress |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
INVESTMENT |
0.000 |
0.000 |
0.000 |
|
|
DEFERREX TAX ASSETS |
0.000 |
0.037 |
0.013 |
|
|
|
|
|
|
|
|
CURRENT ASSETS, LOANS & ADVANCES |
|
|
|
|
|
|
Inventories |
1.671
|
3.417 |
0.261 |
|
|
Sundry Debtors |
3.327
|
0.324 |
0.242 |
|
|
Cash & Bank Balances |
1.855
|
0.072 |
0.637 |
|
|
Other Current Assets |
0.000
|
0.000 |
0.000 |
|
|
Loans & Advances |
0.186
|
0.274 |
0.106 |
|
Total
Current Assets |
7.039
|
4.087 |
1.246 |
|
|
Less : CURRENT
LIABILITIES & PROVISIONS |
|
|
|
|
|
|
Sundry Creditors |
5.713
|
4.710 |
1.040 |
|
|
Other Current Liabilities |
2.589
|
0.819 |
0.696 |
|
|
Provisions |
0.000
|
0.016 |
0.016 |
|
Total
Current Liabilities |
8.302
|
5.545 |
1.752 |
|
|
Net Current Assets |
(1.263)
|
(1.458) |
(0.506) |
|
|
|
|
|
|
|
|
MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
|
|
|
|
|
|
|
|
TOTAL |
(0.511) |
(0.550) |
0.465 |
|
PROFIT & LOSS
ACCOUNT
|
|
PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
|
|
SALES |
|
|
|
|
|
|
|
Income |
11.867 |
6.352 |
|
|
|
|
Other Income |
2.144 |
2.874 |
|
|
|
|
TOTAL (A) |
14.011 |
9.226 |
2.283 |
|
|
|
|
|
|
|
|
Less |
EXPENSES |
|
|
|
|
|
|
|
Office Expenses |
|
|
|
|
|
|
Administrative Expenses |
|
|
|
|
|
|
Advertising Expenses |
|
|
|
|
|
|
TOTAL (B) |
13.807 |
10.139 |
4.935 |
|
|
|
|
|
|
|
|
Less |
PROFIT
BEFORE INTEREST, TAX, DEPRECIATION AND AMORTISATION (A-B) (C) |
[Including
Financial Expenses ] |
[Including
Financial Expenses ] |
[Including
Financial Expenses ] |
|
|
|
|
|
|
|
|
|
Less |
FINANCIAL
EXPENSES (D) |
|
|
|
|
|
|
|
|
|
|
|
|
|
PROFIT
/ (LOSS) BEFORE TAX, DEPRECIATION AND AMORTISATION (C-D) (E) |
0.204 |
(0.913) |
(2.652) |
|
|
|
|
|
|
|
|
|
Less/ Add |
DEPRECIATION/
AMORTISATION (F) |
0.127 |
0.126 |
0.012 |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS) BEFORE
TAX (E-F) (G) |
0.077 |
(1.039) |
(2.664) |
|
|
|
|
|
|
|
|
|
Less |
TAX (I) |
0.052 |
(0.037) |
(0.017) |
|
|
|
|
|
|
|
|
|
|
PROFIT/ (LOSS)
AFTER TAX (G-I) (J) |
0.025 |
(1.002) |
(2.681) |
|
|
|
|
|
|
|
|
|
|
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
(3.683) |
(2.681) |
-- |
|
|
|
|
|
|
|
|
|
|
BALANCE CARRIED
TO THE B/S |
(3.655) |
(3.683) |
(2.681) |
|
|
|
|
|
|
|
|
|
|
EXPORT VALUE |
2.144 |
2.874 |
NA |
|
|
|
|
|
|
|
|
|
|
IMPORTS VALUE |
5.929 |
5.672 |
0.554 |
|
|
|
|
|
|
|
|
|
|
Earnings Per
Share (Rs.) |
0.08 |
(6.23) |
(73.73) |
|
|
Particulars |
|
|
31.03.2012 |
|
Sales Turnover (Approximately) |
|
|
20.000 |
|
|
|
|
|
Expected Sales (2012-2013): Rs.25.000 Millions
The above information has been parted by Mr. Niranjan
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
0.18
|
(10.86) |
(117.43) |
|
|
|
|
|
|
|
Net Profit Margin (PBT/Sales) |
(%) |
0.65
|
(16.36) |
NA |
|
|
|
|
|
|
|
Return on Total Assets (PBT/Total Assets} |
(%) |
0.99
|
(20.80) |
(120.16) |
|
|
|
|
|
|
|
Return on Investment (ROI) (PBT/Networth) |
|
(0.15)
|
1.89 |
(5.91) |
|
|
|
|
|
|
|
Debt Equity Ratio (Total Liability/Networth) |
|
(15.78)
|
(10.08) |
3.92 |
|
|
|
|
|
|
|
Current Ratio (Current Asset/Current Liability) |
|
0.84
|
0.74 |
0.71 |
LOCAL AGENCY FURTHER INFORMATION
|
Sr. No. |
Check List by Info Agents |
Available in Report (Yes / No) |
|
1] |
Year of Establishment |
Yes |
|
2] |
Locality of the firm |
Yes |
|
3] |
Constitutions of the firm |
Yes |
|
4] |
Premises details |
No |
|
5] |
Type of Business |
Yes |
|
6] |
Line of Business |
Yes |
|
7] |
Promoter's background |
Yes |
|
8] |
No. of employees |
Yes |
|
9] |
Name of person contacted |
Yes |
|
10] |
Designation of contact person |
Yes |
|
11] |
Turnover of firm for last three years |
Yes |
|
12] |
Profitability for last three years |
Yes |
|
13] |
Reasons for variation <> 20% |
-- |
|
14] |
Estimation for coming financial year |
Yes |
|
15] |
Capital in the business |
Yes |
|
16] |
Details of sister concerns |
No |
|
17] |
Major suppliers |
No |
|
18] |
Major customers |
Yes |
|
19] |
Payments terms |
Yes |
|
20] |
Export / Import details (if applicable) |
Yes |
|
21] |
Market information |
-- |
|
22] |
Litigations that the firm / promoter involved in |
-- |
|
23] |
Banking Details |
Yes |
|
24] |
Banking facility details |
No |
|
25] |
Conduct of the banking account |
-- |
|
26] |
Buyer visit details |
-- |
|
27] |
Financials, if provided |
Yes |
|
28] |
Incorporation details, if applicable |
Yes |
|
29] |
Last accounts filed at ROC |
Yes |
|
30] |
Major Shareholders, if available |
Yes |
|
31] |
PAN of Proprietor/Partner/Director, if available |
No |
|
32] |
Passport No of Proprietor/Partner/Director, if available |
No |
|
33] |
Voter ID No of Proprietor/Partner/Director, if available |
Yes |
OPERATIONS:
The Company has achieved a turnover of Rs. 14.011 millions including
commission of Rs. 2.144 millions.
BACKGROUND
Subject is a company registered under the Companies Act, 1956. It was
incorporated on 25th April, 2008. The company is engaged in the
business of Importer, Wholesaler, Trader and Service Provider in machine to
prepare, produce, store and display frozen desert, ice creams and beverages.
TRADE REFERENCE:
·
Taj Group Hotels
FIXED ASSETS
·
AIR Conditioner
·
Electric Installation
·
Furniture and Fixtures
·
Leasehold Improvements
·
Mobile
·
Refrigerator
·
Computer
·
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.55.78 |
|
|
1 |
Rs.86.75 |
|
Euro |
1 |
Rs.68.32 |
INFORMATION DETAILS
|
Information
Gathered by : |
PJA |
|
|
|
|
Report Prepared
by : |
VRN |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
|
FINANCIAL CONDITION |
|
|
|
--BUSINESS SCALE |
1~10 |
2 |
|
--PROFITABILIRY |
1~10 |
-- |
|
--LIQUIDITY |
1~10 |
2 |
|
--LEVERAGE |
1~10 |
1 |
|
--RESERVES |
1~10 |
-- |
|
--CREDIT LINES |
1~10 |
1 |
|
--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 |
|
15 |
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 |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.