MIRA
INFORM REPORT
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Report Date : |
04.02.2012 |
IDENTIFICATION DETAILS
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Name : |
ASHLING IMPEX PRIVATE LIMITED |
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Registered Office : |
165-B Ambedkar Marg, Dadar (East), Mumbai-400014, |
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Country : |
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Financials (as on) : |
31.03.2011 |
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Date of Incorporation : |
07.05.2007 |
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Com. Reg. No.: |
11-170627 |
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Capital
Investment / Paid-up Capital : |
Rs.0.100 Million |
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CIN No.: [Company
Identification No.] |
U52100MH2007PTC170627 |
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TAN No.: [Tax
Deduction & Collection Account No.] |
MUM30927B |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Trader of Engineering, Electrical, Mechanical Goods etc. |
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No. of Employees
: |
7 [Approximately] |
RATING & COMMENTS
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MIRA’s Rating : |
B (28) |
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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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Maximum Credit Limit : |
USD 4000 |
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Status : |
Small Company |
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Payment Behaviour : |
Slow but correct |
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Litigation : |
Clear |
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Comments : |
Subject is a small company in its field. Its scale of activities are limited.
However, trade relations are reported as fair. Business is active. Payments
are reported to be slow but correct. The company can be considered for small 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
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Name : |
Mr. Sushant |
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Designation : |
Accounts Manager |
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Contact No.: |
91-22-24025161 |
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Date : |
03.02.2012 |
LOCATIONS
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Registered Office : |
165-B Ambedkar Marg, Dadar (East), Mumbai-400014, |
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Tel. No.: |
Not Available |
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Fax No.: |
Not Available |
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E-Mail : |
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Website : |
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Location : |
Owned |
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Administrative Office : |
10/265, Vishram Wadi, Opposite Gandhi Market, |
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Tel. No.: |
91-22-24025161 |
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Fax No.: |
91-22-24025162 |
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E-Mail : |
DIRECTORS
As on 30.09.2011
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Name : |
Mr. Umang Mahesh Vakharia |
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Designation : |
Director |
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Address : |
165-B, Kamla Terrace, Dr. Ambedkar Marg, Dadar (East), Mumbai-400014, |
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Date of Birth/Age : |
14.01.1974 |
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Date of Appointment : |
07.05.2007 |
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DIN : |
01190465 |
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Name : |
Ms. Minal Anil Haribhakti |
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Designation : |
Director |
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Address : |
165-B, Kamla Terrace, Dr. Ambedkar Marg, Dadar (East), Mumbai-400014, |
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Date of Birth/Age : |
23.06.1974 |
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Date of Appointment : |
07.05.2007 |
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DIN : |
01190719 |
MAJOR SHAREHOLDERS / SHAREHOLDING PATTERN
AS ON 30.09.2011
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Names of Shareholders |
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No. of Shares |
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Umang M. Vakharia |
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5000 |
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Minal A. Haribhakti |
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5000 |
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Total |
|
10000 |
AS ON 30.09.2011
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Equity share
breakup |
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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 : |
Trader of Engineering, Electrical, Mechanical Goods etc. |
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Products : |
PLASTICS AND PACKAGING INDUSTRIES
METALS(FERROUS
AND NON FERROUS) INDUSTRIES |
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Terms : |
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Selling : |
Cash / Credit |
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Purchasing : |
Cash / Credit |
GENERAL INFORMATION
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Customers : |
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No. of Employees : |
7 [Approximately] |
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Bankers : |
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Facilities : |
-- |
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Banking Relations
: |
-- |
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Auditors : |
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Name : |
V.U. Bhatt and Company Chartered Accountants |
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Address : |
612, Navjivan Society-III, |
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Tel. No.: |
91-22-66376672/23016672 |
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Fax No.: |
91-22-66376672 |
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Email : |
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PAN : |
AADPB0718M |
CAPITAL STRUCTURE
AS ON 30.09.2011
Authorised Capital :
|
No. of Shares |
Type |
Value |
Amount |
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10,000 |
Equity Share |
Rs.10/- Each |
Rs. 0.100 Million |
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Issued, Subscribed & Paid-up Capital :
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No. of Shares |
Type |
Value |
Amount |
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10,000 |
Equity Share |
Rs.10/- Each |
Rs. 0.100
Million |
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FINANCIAL DATA
[all figures are
in Rupees Millions]
ABRIDGED BALANCE
SHEET
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SOURCES OF FUNDS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SHAREHOLDERS FUNDS |
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1] Share Capital |
0.100 |
0.100 |
0.100 |
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2] Share Application Money |
0.000 |
0.000 |
0.000 |
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3] Reserves & Surplus |
1.143 |
0.595 |
0.515 |
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4] (Accumulated Losses) |
0.000 |
0.000 |
0.000 |
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NETWORTH |
1.243 |
0.695 |
0.615 |
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LOAN FUNDS |
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1] Secured Loans |
0.000 |
0.000 |
0.000 |
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2] Unsecured Loans |
0.000 |
0.000 |
0.000 |
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TOTAL BORROWING |
0.000 |
0.000 |
0.000 |
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DEFERRED TAX LIABILITIES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1.243 |
0.695 |
0.615 |
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APPLICATION OF FUNDS |
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FIXED ASSETS [Net Block] |
0.109 |
0.054 |
0.091 |
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Capital work-in-progress |
0.000 |
0.000 |
0.000 |
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INVESTMENT |
0.000 |
0.000 |
0.000 |
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DEFERREX TAX ASSETS |
0.000 |
0.000 |
0.000 |
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CURRENT ASSETS, LOANS & ADVANCES |
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Inventories |
0.000
|
0.000 |
0.000 |
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Sundry Debtors |
0.000
|
0.000 |
0.000 |
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Cash & Bank Balances |
0.174
|
0.009 |
0.472 |
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Other Current Assets |
0.000
|
0.000 |
0.000 |
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Loans & Advances |
2.023
|
1.038 |
0.443 |
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Total
Current Assets |
2.197
|
1.047 |
0.915 |
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Less : CURRENT
LIABILITIES & PROVISIONS |
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Sundry Creditors |
0.465 |
0.113 |
0.157 |
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Other Current Liabilities |
0.081
|
0.027 |
0.008 |
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Provisions |
0.517
|
0.266 |
0.226 |
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Total
Current Liabilities |
1.063
|
0.406 |
0.391 |
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Net Current Assets |
1.134
|
0.641 |
0.524 |
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MISCELLANEOUS EXPENSES |
0.000 |
0.000 |
0.000 |
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TOTAL |
1.243 |
0.695 |
0.615 |
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PROFIT & LOSS
ACCOUNT
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PARTICULARS |
31.03.2011 |
31.03.2010 |
31.03.2009 |
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SALES |
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Income |
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Other Income |
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TOTAL |
7.188 |
3.611 |
7.436 |
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Less |
EXPENSES |
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Office Expenses |
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Administrative Expenses |
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Advertising Expenses |
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TOTAL |
6.390 |
3.491 |
6.377 |
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PROFIT / [LOSS]
BEFORE TAX |
0.798 |
0.121 |
1.059 |
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Less |
TAX |
0.251 |
0.039 |
0.226 |
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PROFIT / [LOSS]
AFTER TAX |
0.547 |
0.080 |
0.833 |
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Add |
PREVIOUS
YEARS’ BALANCE BROUGHT FORWARD |
0.595 |
0.515 |
[0.318] |
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BALANCE CARRIED
TO THE B/S |
1.142 |
0.595 |
0.515 |
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EARNINGS IN FOREIGN
CURRENCY |
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Commission Income Received |
7.188 |
3.602 |
7.399 |
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TOTAL EARNINGS |
7.188 |
3.602 |
7.399 |
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Earnings/[Loss]
Per Share (Rs.) |
55.00 |
8.00 |
83.00 |
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Expected Sales (2011-2012) : Rs.7.500 millions
The above information has been parted by Mr. Sushant [Accounts Manager].
KEY RATIOS
|
PARTICULARS |
|
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
PAT / Total Income |
(%) |
7.61
|
2.21 |
11.20 |
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Return on Total Assets (PBT/Total Assets} |
(%) |
34.60
|
10.99 |
105.27 |
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Return on Investment (ROI) (PBT/Networth) |
|
0.64
|
0.17 |
1.72 |
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Debt Equity Ratio (Total Liability/Networth) |
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0.86
|
0.58 |
0.63 |
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Current Ratio (Current Asset/Current Liability) |
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2.07
|
2.58 |
2.34 |
LOCAL AGENCY FURTHER INFORMATION
Sundry Creditors
Details :
Rs. in millions
|
Particulars |
31.03.2011 |
31.03.2010 |
31.03.2009 |
|
Sundry Creditors |
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V U. Bhatt and Company (Professional Fees) |
0.059 |
0.050 |
0.071 |
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Mr. Nitesh Parekh (for Expenses) |
0.243 |
0.000 |
0.008 |
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Jaya Advertising Private Limited |
0.004 |
0.017 |
0.010 |
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Citibank Cfedit Card |
0.111 |
0.000 |
0.036 |
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HDFC Credit Card |
0.039 |
0.045 |
0.031 |
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Outstanding Expenses |
0.000 |
0.001 |
0.001 |
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Growthwelll Consulting Private Limited |
0.009 |
0.000 |
0.000 |
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Total |
0.465 |
0.113 |
0.157 |
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Available
in Report [Yes/No] |
|
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Year
of Establishment |
Yes |
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Locality
of the Firm |
Yes |
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Construction
of the firm |
Yes |
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Premises
details |
Yes |
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Type
of Business |
Yes |
|
Line
of Business |
Yes |
|
Promoters
background |
- |
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No.
of Employees |
Yes |
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Name
of Person Contacted |
Yes |
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Designation
of contact person |
Yes |
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Turnover
of firm for last one years |
Yes |
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Profitability
for last three years |
No |
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Reasons
for variation <> 20% |
- |
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Estimation
for coming financial year |
Yes |
|
Capital
the business |
No |
|
Details
of sister concerns |
- |
|
Major
Suppliers |
No |
|
Major
Customers |
No |
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Payment
Terms |
Yes |
|
Export
/ Import Details [If Applicable] |
No |
|
Market
Information |
- |
|
Litigations
that the firm / promoter involved in |
- |
|
Banking
Details |
Yes |
|
Banking
Facility Details |
No |
|
Conduct
of the banking account |
- |
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Buyer
visit details |
- |
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Financials,
if provided |
No |
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Incorporation
details, if applicable |
- |
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Last
accounts filed at ROC |
- |
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Major
Shareholders, if applicable |
- |
Fixed Assets:
- Computers
- Software
- Canon Printer
- Office Equipment
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 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.48.96 |
|
|
1 |
Rs.77.46 |
|
Euro |
1 |
Rs.64.39 |
SCORE & RATING EXPLANATIONS
|
SCORE FACTORS |
RANGE |
POINTS |
|
HISTORY |
1~10 |
3 |
|
PAID-UP CAPITAL |
1~10 |
3 |
|
OPERATING SCALE |
1~10 |
3 |
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FINANCIAL CONDITION |
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|
--BUSINESS SCALE |
1~10 |
3 |
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--PROFITABILIRY |
1~10 |
3 |
|
--LIQUIDITY |
1~10 |
3 |
|
--LEVERAGE |
1~10 |
3 |
|
--RESERVES |
1~10 |
4 |
|
--CREDIT LINES |
1~10 |
3 |
|
--MARGINS |
-5~5 |
- |
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DEMERIT POINTS |
|
|
|
--BANK CHARGES |
YES/NO |
YES |
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--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 |
|
28 |
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.